India Market 

Unlock 4.0: Delhi Metro receives nod to resume services from September 7

By Administrator_India Capital Sands The Ministry of Home Affairs (MHA) on August 29 gave the go-ahead for reopening of metro rail services with effect from September. The Metro rail will be allowed to operate with effect from September 7 in a graded manner, the Unlock 4 guidelines issued by the MHA said. Chief Minister Arvind Kejriwal tweeted that he was “glad” the metro services will resume operations in a phased manner. “As per the latest guidelines issued by the Ministry of Home Affairs under Unlock-4, the Delhi Metro will be…

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Covid-19 India 

Maharashtra government slashes stamp duty to 2% until Dec 2020 to boost demand

By Administrator_India Capital Sands   To boost the stagnant real estate market hit by COVID-19, the Maharashtra government on August 26 decided to temporarily reduce stamp duty on housing units from 5 percent to 2 percent until December 31, 2020, sources said. Stamp duty from Jan 1, 2021, until March 31, 2021, will be 3 percent, they said. The decision was taken at the state cabinet meeting on August 26. Real estate developers had been asking for a reduction in stamp duty following the lockdown to encourage homebuyers to purchase…

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India 

Sonia Gandhi reaches out to CMs of West Bengal, Maharashtra and Jharkhand on GST compensation issue

By Administrator_India Capital Sands Congress president Sonia Gandhi on August 25 reached out to the chief ministers of West Bengal, Maharashtra and Jharkhand on the issue of compensation to states and would hold a meeting with them for evolving a collective stand at the August 27  GST Council meeting, sources said. They said Gandhi will be holding the virtual meeting with Mamata Banerjee, Uddhav Thackeray and Hemant Soren, besides all four Congress chief ministers, to evolve a joint strategy for pressing the central government to grant compensation to states. The…

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Stocks in focus on September 18, 2020 Economic News India 

Indian shares hit near four-month highs, Reliance rises on Intel investment

By Administrator_India Capital Sands   Indian shares scaled near four-month highs on Friday, as upbeat data from the United States and China outweighed concerns about surging domestic cases of the novel coronavirus, while Reliance Industries climbed after Intel invested in its digital unit. The benchmark indexes rose for a third day, with the Nifty rising 0.39% to 10,592.55 and the Sensex by 0.34% to 35,963.73. Both indexes were set for their third straight weekly gain. Broader Asian markets were supported by data that showed China’s services sector in June expanded…

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India's services activity collapses as coronavirus paralyses global economy India 

India’s services activity collapses as coronavirus paralyses global economy

By Ritu, Capital Sands India’s services activity suffered a shock collapse in April as the coronavirus lockdown crippled global demand, causing a historic spike in layoffs and reinforcing fears of a deep recession in Asia’s third-largest economy, a private survey showed. The grim result for the industry, the engine of economic growth and jobs, underlined the pandemic’s sweeping impact across India as authorities extended a nationwide lockdown, in effect since March 25, until May 17. The Nikkei/IHS Markit Services Purchasing Managers’ Index plunged to an eye-popping 5.4 in April from…

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India charges Tablighi Jamaat chief with culpable homicide for coronavirus surge Covid-19 India 

India charges Tablighi Jamaat chief with culpable homicide for coronavirus surge

By administrator_India Capital Sands India has brought charges of culpable homicide not amounting to murder against the chief of a Muslim seminary for holding a gathering last month that authorities say led to a big jump in coronavirus infections, police said on Thursday. The headquarters of the Tablighi Jamaat group in a cramped corner of Delhi were sealed and thousands of followers, including some from Indonesia, Malaysia and Bangladesh, were taken into quarantine after it emerged they had attended meetings there in mid-March. Police initially filed a case against Muhammad…

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