Serum, the world’s largest maker of vaccines by volume, is mass-producing the vaccine candidate developed by the University of Oxford.

HDFC was the top gainer in the Sensex pack, rallying nearly 5 per cent, followed by Bajaj Finance, HDFC Bank, Tech Mahindra, M&M, Reliance Industries and NTPC.

Forex traders said positive start of domestic stocks supported the local unit. Besides, market sentiments improved as more countries are announcing gradual lifting of lockdowns that have been imposed to contain coronavirus infection.

Axis Bank on Tuesday reported a standalone net loss of Rs 1,387.78 crore for March quarter of 2019-20 as provisioning for bad loans and contingencies soared.

India's equity markets have lost more than a fifth of their value this year, while the S&P 500 has corrected by just over 11 per cent. The S&P 500 also has almost no correlation with India's markets, making it an ideal hedge for domestic investors.

A study by Deloitte found that 27 companies of the 100 listed on the NSE, won't be able to sustain current wage bill from cash profits, if their revenue dips by 30 per cent or more.

The Reserve Bank in October 2018 had barred the bank from granting or renewing any loan for six months and later extended the curbs twice. The bank was allowed to continue to undertake banking business with restrictions till "its financial position improves".

Vodafone Idea, formerly known as Vodafone Mobile Services Ltd, had however sought Rs 4,759.07 crore in tax refund from for AYs - 2014-15, 2015-16, 2016-17 and 2017-18.

The scrip closed the day at Rs 438.85, 3.67 per cent lower at the BSE. During the day, it declined 6.15 per cent to Rs 427.50.

Chief Economic Adviser K Subramanian said policy making in India happens throughout the year, coming up with a separate budget may only be a legal way to go about it.

MFIs have been hit hard by the COVID-19 pandemic, with many finding it difficult to meet the operating costs and pay salaries during the ongoing lockdown.

The ILO also projects that 1.6 billion workers in the 'informal economy,' stand in immediate danger of having their livelihoods destroyed.

The Rs 1 lakh crore flagship Delhi-Mumbai Expressway project is scheduled to be completed within three years and and expected to cut down the travel time between Delhi and Mumbai to just 12 hours.

The hospitality sector has been one of the worst affected by the coronavirus outbreak, with global and domestic travel coming to a near-halt.

The Energy Information Administration expects jet fuel use to fall 34% in the second quarter. In addition, the agency expects gasoline use to drop by 25% from April to June.

A top US health official said Gilead Sciences Inc's antiviral drug remdesivir is likely to become the standard of care for Covid-19 after early results from a clinical trial showed it helped certain patients recover more quickly.

Oil prices have plunged to historic lows in recent weeks as collapsing demand due to worldwide lockdowns prompted a massive glut and led to storage capacity filling up.

The NSE Nifty 50 index advanced 3.11 per cent to 9,850.3 by 0455 GMT, while the benchmark S&P BSE Sensex was up 3.1 per cent at 33,734.26. Both indexes were on course for their fourth straight session of gains in a holiday shortened week.

Rising scrap supplies amid a fall in demand could dent the world's second-biggest bullion consumer's imports and cap a rally in global prices, which hit a more than seven-year high earlier this month.

The surge came after market sentiments improved as more countries are announcing the gradual lifting of lockdowns that have been imposed to contain coronavirus infection.

On Wednesday, another Indian pharmaceutical company, Strides Pharma Science Ltd, said it had developed and commercialised favipiravir antiviral tablets, and had applied to Indian drug authorities to start trials.

A committee headed by the state’s chief secretary that also includes representatives from South Korea and Japan will submit a report within one month.

After surging 1,167 points during the day, the 30-share index settled 997.46 points or 3.05 per cent higher at 33,717.62. It hit an intra-day high of 33,887.25.

In a letter to employees dated April 29, Reliance Industries' executive director Hital R. Meswani stated that Ambani will forego his entire compensation.

The final report of the task force on NIP for 2019-2025 suggested steps like deepening bond markets, setting up of development financial institutions and land monetisation to meet the funding needs,

In its filing with the Bombay Stock Exchange (BSE), the company said that the board of directors of JustDial has given its nod to a buyback proposal worth maximum Rs 220 crore.

Industry representatives said while some hotels have chosen not to entertain new guests, some have stepped up hygiene and sanitisation measures.

The 'MSME Bank of Ideas, Innovation and Research' portal was launched via video-conference. Registered users on the portal can share ideas, innovation and research, which will be reviewed by the officer concerned.

The petitioner contended that telephone operators and ISPs ought not to charge citizens for services not used by them while following the government's directions.

Rising for the fourth straight session, the 30-share BSE Sensex settled 997.46 points, or 3.05 per cent, higher at 33,717.62.

The report further said that the supply additions through infrastructure development boost short-term as well as the potential rate of GDP growth.

The infrastructure output growth for February was upwardly revised to 7.1% from an earlier estimate of 5.5%, the data showed.

Revenue from operations for the March quarter stood at Rs 136,000 crore, against Rs 152,939 crore in December quarter and Rs 138,659 crore in the year-ago period.

The greenback weakening overseas and optimism over a COVID-19 drug trial in the US further supported the local unit, forex traders said.

The final report of the task force on National Infrastructure Pipeline (NIP) for 2020-2025 presented to the government suggested agricultural reforms broadly in three areas e-market infrastructure, storage and processing, and research and development (R&D).

Reckitt Benckiser recorded a 13.3% rise in first quarter like-for-like sales, that was its best performance since the company was formed in 1999.

The new clause comes as sellers in Asia seek to protect their interests, as prices of some physical crude grades sold in the region have fallen to close to $10 a barrel due to heavy discounts.

Government officials said that collection numbers present a worrying trend, given that normal business activities were underway till March 24 when a nationwide lockdown was announced.

The agency affirmed the long-term issuer default ratings (IDR) of SBI and BOB at 'BBB-' and those of ICICI Bank and Axis Bank at 'BB+'.

The PF returns have details about employees' and employers' contributions towards the social security scheme run by the Employees' Provident Fund Organisation (EPFO).

Brent crude for July delivery, which started trading on Friday as the new front-month contract, was up $1.10, or 4.2%, at $27.58 a barrel by 0013 GMT.

Millions more Americans filed claims for unemployment benefits last week, lifting the number of applications to 30.3 million since March 21, data showed.

All major financial markets in India will remain closed on Friday on account of Maharashtra Day.

The coronavirus has infected workers at dozens of locations, igniting small protests and prompting labour organisers to demand site closures

With the lockdown in place, many banks have limited their working hours. Every second and fourth Saturday is also a bank holiday.

According to Dun & Bradstreet's latest report, changes in consumer behaviour will determine the segments that are likely to flourish after the pandemic comes under control.

The proposed acquisition involves settlement or contribution of equity shares of the company to the four trusts by Ashok Todi, Bimla Todi, Pradip Todi and Shobha Todi.

The outbreak of coronavirus and the lockdowns imposed by nations to curb its spread has evaporated demand for oil, sending international oil prices crashing.

The state government has also decided to provide working capital loans to MSMEs at lower interest rates. A fund to the tune of Rs 200 crore would be created to lend loans between Rs 2-10 lakh.

The high court order of March 30 came as steelmaker ArcelorMittal looked to enforce a $1.5 billion arbitral award stemming from a soured supply agreement.