No change in retail prices as oil marketing firms to absorb increase

Companies across the sector are restructuring payrolls of crew, cutting allowances, and extending leave without pay duration as they realise they will have more aircraft and employees compared to customers.

M and M was the top gainer in the Sensex pack, rallying over 5 per cent, followed by Bajaj Finance, HDFC Bank, ICICI Bank, Bharti Airtel and Hero MotoCorp. NSE Nifty rose 65.30 points, or 0.71 per cent, to finish at 9,270.90.

The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.

ONGC was the top loser in the Sensex pack, slumping over 4 per cent, followed by NTPC, Kotak Bank, Titan, Bharti Airtel and PowerGrid. On the other hand, IndusInd Bank rallied over 6 per cent.

Except for laws pertaining to the payment of minimum wages, following safety norms and adequate compensation for workers in case of industrial accidents, no other provisions of the labour law would apply to all new companies that wish to operate in the state for at least 1,200 days, and for those that have already been operational for that period.

Retail loan growth is likely to be subdued because of the recent spate of job losses and a sense of uncertainty.Some banks are already seeing higher growth in their corporate book, as compared to their retail loan book

Punjab National Bank also requests RBI to permit one-time restructuring of loans till March 31, 2021 on a case to case basis

In a televised address to the nation, Singapore Prime Minister Lee said the government was committed to do its "utmost" to keep the deadly virus at bay.

The Indian Army chief, who is on a visit to Jammu and Kashmir, to review LoC operations, said, "It is very unfortunate that at a time when the

Young Rediff readers share inspiring messages to raise awareness about COVID-19.

Boston based poet and writer Sunayana Kachroo writes about her mother.