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.

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

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 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.

Nationwide lockdown should only be lifted once the situation is fully under control, said State Bank of India Chairman Rajnish Kumar.

Sugar sales in March and April declined by 10 lakh tonne because of the imposition of nationwide lockdown to control the coronavirus disease, the Indian Sugar Mills Association (ISMA) said.

On Tuesday, Fitch warned India's sovereign rating could come under pressure if its fiscal outlook deteriorates further as the government tries to steer the country through the coronavirus crisis.

SBI Chairman Rajnish Kumar said he is hopeful of more relaxations by May 31 and expects economic activity to return by the festive season.

The tweets recall Musk's controversial tweets in August 2018 when he said he had "funding secured" for a quickly-aborted campaign to take the electric car maker private.

PM Narendra Modi, who held discussions with Amit Shah and Nirmala Sitharaman, on Friday held meetings with different ministries including civil aviation, labour and power.

The bank is looking at the short term now - the next two or three quarters, a senior SBI official said on condition of anonymity.

In his opening remarks, the governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.

The product has emerged as the fastest growing financial subscription service, reaching a subscriber base of 1,60,000 in less than a year.

It is now, more than ever, that investors need credible and timely information that will allow them to take decisions in the midst of extraordinary uncertainty.

The RBI said the bank is not in a position to pay its current or future depositors and has violated regulatory norms for minimum capital requirement.

The prime minister also had discussions with key economic ministries such as Agriculture and Farmers' Welfare, and MSME to discuss various issues.

Reeling under pressure due to sharp drop in footfalls following the COVID-19 pandemic, operators in the country's coworking industry believe the blip could be temporary and demand for flexible space would go up again as some key factors are going for them.

Sebi has imposed a total penalty of Rs 1.05 crore on 21 entities for executing fraudulent trading in the scrip of Jolly Plastic Industries Ltd.

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Tata Consultancy Services' market valuation zoomed Rs 73,753.12 crore to Rs 7,56,049.23 crore, becoming the biggest gainer in the top-10 chart.

Asked about the reluctance of lenders to extend advances to small and medium enterprises, Panda said banks are "afraid" of increasing their lending to businesses despite several policy rate cuts by the Reserve Bank of India.

Indian banks are already grappling with 9.35 lakh crore rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

In commodity markets, US crude futures sank in early trade on worries about oil oversupply, even as some US states start to ease coronavirus pandemic restrictions.

This is the first sizable investment by SLP in India and reaffirms Jio’s technological capabilities and the potential of the business model, even in this Covid-19 world and beyond.

With new orders and output shrinking at the steepest pace since at least early 2005 factories cut jobs at the fastest rate in the survey's history, signaling a high chance of recession.

The rupee opened weak at 75.70 at the interbank forex market and then fell further to 75.80, down 71 paise over its last close.

ICICI Bank was the top laggard in the Sensex pack, tumbling nearly 9 per cent, followed by IndusInd Bank, Bajaj Finance, Tata Steel and HDFC.

Antibody testing is an important step to tell if someone has been previously infected. It will provide more understanding of the virus.

Remdesivir is authorised for the treatment of hospitalised patients with severe Covid-19 disease though the optimal duration of treatment is still being studied in ongoing clinical trials.

While ITC had so far not taken any action against workers, the company notices said "absence without leave" would lead to salary cuts and "disciplinary action", without elaborating.

Professional indemnity policy offers protection to professionals against potential claims for injury or loss resulting from their advice action for failure to fulfil their duties.

Sectoral meetings, held separately in two sessions through video conference, were also attended by Deputy Governors and other senior officers of RBI.

The PM’s Office, Niti Aayog and the Department for Promotion of Industry and Internal Trade are firming up a plan to offer incentives in order to attract companies looking to shift manufacturing units out of China.

It could well be economically rewarding if the workers managed to get back to work in the cities and towns where they were engaged in before the lockdown, only if appropriate welfare measures reach them.

Suggestions from various quarters, including from Indian Banks' Association, have come for the further extension of moratorium and the RBI is actively considering them, according to sources.

ONGC was the top gainer in the Sensex pack, rallying over 5 per cent, followed by M&M, Bharti Airtel, IndusInd Bank, ICICI Bank, PowerGrid and Tech Mahindra.

Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the local unit.

An American financial organisation has agreed to sanction USD 15 million loan to an Indian education start-up to expand the access to quality education by providing critical financing to schools that serve low-income students in India.

The report said the increase in non-performing assets by 2-4 percentage points will need a government recapitalisation requirement by $7-15 billion.

Slumping over 810 points from the day's high, the 30-share BSE index settled 261.84 points or 0.83 per cent lower at 31,453.51.

Analysts agree that Covid-19 pandemic will lead to an increase in bank's gross non-performing assets with some reports pegging the stock to double as well.

Imports also fell, but only by 6.2 percent, as transportation and shipping began to close down worldwide.

In March, the government announced a Rs 1.7 lakh crore relief package focusing on providing food security to the poor and providing money in their hands to fight COVID-19.

The SC said cooperative banks cannot carry on any activity without compliance of the provisions of the Banking Regulation Act, 1949 and any other legislation applicable to such banks relatable to 'Banking'.

US West Texas Intermediate (WTI) crude futures fell as much as 2.1 per cent to $24.05 a barrel and were down 14 cents at $24.41 a barrel at 0201 GMT. WTI has snapped a five-day winning streak.

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.

Forex traders said the weakness in the rupee was largely due to the strengthening US dollar. Besides, rising coronavirus cases in the country also weighed on the local unit.

India's April gasoil exports closed at a four-month high of 2.73 million tonnes, compared with 2.53 million tonnes in March, according to Refinitiv oil research assessments.

After swinging over 800 points during the day, the 30-share index closed 232.24 points or 0.74 per cent higher at 31,685.75.