Finance Minister Piyush Goyal and the RBI governor today met CEOs of public sector banks. RBI governor Mr Das said the meeting was held to understand the current situation for PSU lenders. He also said the regulator's expectations were communicated to the banks.  

RBI Governor Shaktikanta Das has said, the coronavirus outbreak will have a limited impact on India but the global GDP and trade will definitely get affected due to the large size of the Chinese economy. He said, only a couple of sectors in India are likely to see some disruptions, pharmaceutical and electronic manufacturing sectors, which are dependent on China, but alternatives are being explored to overcome those issues as well. He added, for India, China is an important trading partner and policymakers both in the government and the monetary authority are keeping a close watch on the developments.

India will switch to the world's cleanest petrol and diesel from April 1, when it moves to Bharat Stage VI-compliant fuel from the current BS-IV grade now. With that, India will join the select club of nations using petrol and diesel containing just 10 parts per million of sulphur and emission standards as good as CNG. Sanjiv Singh, chairman of Indian Oil Corporation Ltd., said almost all refineries began producing ultra-low sulphur BS-VI petrol and diesel by the end of 2019 and are working tirelessly to replace every drop of fuel in the country to the new one.

As the real estate sector reels under a slowdown, a report by Anarock Realty Consultants brings some good news. The report says that major real estate companies listed on stock exchanges have recorded a steady growth in their revenue during the October-December quarter of the current fiscal&nbsp;year. Housing sales revenue of the top nine listed developers in the quarter stood at nearly ₹5,800 crore, up 4% sequentially and 2% over previous&nbsp;year.
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Stock markets ended Wednesday with strong gains following a sharp surge in pharma, metal, FMCG&nbsp;and bank stocks.
The Sensex&nbsp;closed 428.62 points or 1.05% higher at 41,323 and the Nifty surged 1.15% to end the session at 12,130.30.
Infratel, Grasim, Coal India, Zee and Hindustan Unilever were the top five Nifty movers. While, Tata&nbsp;Motors, JSW&nbsp;Steel, Sun Pharma, TCS and Bharti&nbsp;Airtel&nbsp;were in red.
Nifty Pharma&nbsp;rose 2.32%, Metal 1.94% followed by Nifty FMCG&nbsp;and Nifty Bank.
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Stock markets started Wednesday session with strong gains led by banks, metals and pharma. Index heavyweight Reliance industries also pushed the Nifty 50 index higher in early trade.
At 9:30 AM, the Sensex was 405.39 points up at 41,299.77 and Nifty was trading almost a percent high at&nbsp;12,111.20.
Among the top gainers, Infratel&nbsp;was up 6.24%, followed by Coal India, NTPC, Reliance and Nestle India. Whereas, Tata&nbsp;Motors, Yes Bank, IndusInd&nbsp;Bank, Britannia and GAIL were the top for Nifty losers in the morning session.
Currency markets are closed today for Chattrapati Shivaji Jayanti.
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+405.39 +0.99%
12,111.20 118.70&nbsp;0.99%&nbsp;
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While&nbsp;coronavirus&nbsp;fears curtail much of China's bustle, traders are getting back to business at the world's largest electronics market, buying and selling from bags and suitcases on the streets outside their shut premises.&nbsp;The market which has around 38,000 trading desks will remain closed this week, with vendors uncertain of when formal business will resume.

Vodafone&nbsp;Idea shares on Wednesday&nbsp;jumped over 48% to 4.45 on NSE&nbsp;as the going concerns over the company eased slightly on a report that the government is backing a three-private player market and is unlikely to invoke the company's bank guarantees for now. Telco's&nbsp;senior counsel Mukul Rohatgi on Monday warned&nbsp;if the bank guarantees deposited with the government are encashed, Vodafone Idea will have to shut shop.&nbsp;On Tuesday, its Chairman Kumar&nbsp;Mangalam&nbsp;Birla&nbsp;met government officials to look for options to keep the company afloat.&nbsp;

Describing the situation in terms of raw material import from China as 'grim', India Pharmaceutical Alliance (IPA) said the Indian Pharma Industry has enough stocks of active pharmaceutical ingredient (APIs) for two to three months only. India imports ₹17,000 crore worth of APIs from the Novel Coronavirus-hit nation.

Shree Cement will replace private lender Yes Bank in the benchmark index Nifty 50 from March 27,&nbsp;the National Stock Exchange (NSE), said later on Tuesday. Following the news, stocks of Shree&nbsp;Cements rose 3.43%, while Yes Bank fell over 4% on Wednesday.
Further, Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&amp;T Finance Holdings and Shree Cement will be dropped from Nifty Next 50.&nbsp;Adani Transmission, IDBI Bank, Info Edge India, Larsen &amp; Toubro Infotech and Torrent Pharmaceuticals would be added in Nifty Next 50 index.

The government is unlikely to invoke Vodafone Idea&rsquo;s bank guarantees for now, even as the officials of the telecom and finance ministries met Cabinet secretary Rajiv Gauba to discuss ways to ensure that the sector retains three private players, officials told the Economic Times.&nbsp;Government could consider postponing or staggering other payments due to it, in order to give some flexibility to telcos to cough up money towards AGR&nbsp;dues, the report mentioned. After plunging for over 11% on Tuesday, scrips&nbsp;of Vodafone&nbsp;Idea were trading 8.33% higher at 3.25 on NSE&nbsp;on Wednesday.

Stock markets on Tuesday ended in red dragged by metals and autos as panic rises in global markets over increasing cases of&nbsp;coronavirus.
The Sensex on Tuesday closed 161.31 points down at 40,894.38. Similarly, Nifty 50 ended the session below 12,000, falling&nbsp;0.44%.
Infratel was the biggest Nifty loser, crashing over 11%. Yes Bank, Tata&nbsp;Motors, IndusInd&nbsp;bank and Hindalco&nbsp;were the other top losers. While, Coal India, Zee, BPCL, GAIL and Adani&nbsp;Ports were the top five gainers.
The Indian rupee was down 26&nbsp;paise&nbsp;at 71.56 against the US dollar in intraday&nbsp;session.
 
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Indicating that a major bilateral trade deal during his visit to Delhi next week might not be on the cards, US President Donald Trump has said he is "saving the big deal" with India for later. Trump added that he "does not know" if it will be done before the presidential election in November. In an apparent dissatisfaction over US-India trade ties, Trump said, "we're not treated very well by India." But he praised PM Modi and said he is looking forward to meet him. Trump is scheduled to visit India on February 24 and 25.

India employees could see the&nbsp;lowest salary hike in 2020 in over a decade. As per the Aon&nbsp;Salary Increase survey 2020, the salary hike this year could be just 9.1%. The projected hike is even lower than 9.3% it projected in 2019.&nbsp;It said that despite the dip in the projections, two out of five participating companies in the survey were projecting a double-digit increase, expecting a positive economic outlook.&nbsp;The results are based on responses from over 1,000 organisations spread across more than 20 industries.

Domestic equities fall in early trade on Tuesday after Moody's slashed India's growth estimates. Weak Asian cues also impacted trade sentiments.
At 9:30 AM, the Sensex&nbsp;was down 247.91 points or 0.60% at&nbsp;40,807.78. The NSE&nbsp;Nifty index was trading at 11,965.40, falling 80.40 points or 0.67%.
Yes Bank, IndusInd&nbsp;Bank, Infratel, Hindalco and Tata&nbsp;Steel were the top five Nifty losers.&nbsp;
The Indian rupee opens at 71.38 against its Monday close of 71.30 per&nbsp;US dollar.

Amid talks of Centre&nbsp;encashing its bank guarantee over default in payment of AGR dues, Vodafone Idea Chairman Kumar Mangalam Birla met Telecom Secretary Anshu Prakash on Tuesday as he looked for options to keep the company afloat. After the meeting, Birla said he "cannot say anything at the moment." The meeting took place after the&nbsp;Supreme Court on Monday refused to stop DoT from taking any coercive steps for recovery of dues from Vodafone Idea.&nbsp;Vodafone Idea may have to shut if there is no relief on the statutory dues.

Reliance Industries (RIL) on Monday announced their decision to merge&nbsp;TV18 Broadcast, Hathway Cable and Den Networks&nbsp;into Network18 Media &amp; Investments. Accordingly, the scheme's share exchange ratio proposes that for every 100 shares of TV18, shareholders will receive 92 shares of Network 18, while, those of Hathway shareholders will get 78 shares and Den shareholders will get 191 shares.&nbsp;Post the consolidation Network18 will be an integrated media and distribution company with a revenue of ₹8,000 crores and will scale-up as one of the largest listed players in the sector.

Casual dining chain Barbeque Nation has filed papers with the markets regulator SEBI to raise an estimated&nbsp;₹1,000-1,200 crores through an&nbsp;IPO. The company may consider a pre-IPO placement of ₹150 crores. Proceeds of the issue will be utilised to repay an outstanding borrowing of&nbsp;₹205 crores in part or full and for general corporate purposes.

Amazon founder Jeff Bezos has announced he plans to spend $10 billion of his own fortune to help fight "the devastating impact" of climate change.&nbsp;The world&rsquo;s richest man took to Instagram&nbsp;to say that the Bezos Earth Fund would start giving grants this summer to scientists, activists and non-profit organisations working to protect Earth.&nbsp;&ldquo;I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change&rdquo;, Bezos said in the post. Amazon has an enormous carbon footprint - the online retailer relies on fossil fuels to power planes, trucks and vans in order to ship billions of items all around the world.

As the Supreme Court refused to provide any relief to the telecom&nbsp;companies towards the AGR dues on Monday, the street is worried if the Vodafone&nbsp;Idea will survive. Brokerages said&nbsp;Bharti&nbsp;Airtel&nbsp;looked set to clear dues but the question remained if Vodafone&nbsp;could pay. Vodafone&nbsp;promoters have raised concerns about their operations in India if they have to pay dues.&nbsp;As per the DoT's&nbsp;calculation,&nbsp;Vodafone&nbsp;owes over ₹56,000 crores&nbsp;out of which the telco&nbsp;has paid a mere ₹2,500 crores&nbsp;on Monday and said it would pay ₹1,000 crores&nbsp;in the next few days.
As of March 2019, the company only has ₹784 crores&nbsp;in cash.&nbsp;According to reports, Voda's&nbsp;promoters&nbsp;Aditya Birla Group and Vodafone Plc are unwilling to furnish further capital into the company for the dues.&nbsp;Vodafone Idea&nbsp;has asked for its AGR dues to be adjusted against ₹7,000 crores owed to it by the tax department.
Telcos filed a modification plea on February 14, 2020 seeking new schedule of AGR&nbsp;dues by the SC. Vodafone&nbsp;posted losses to the tune of ₹6,453 crores in the December quarter.
Brokerages believe that India will have a duopoly telecom market and hence raised the target price for&nbsp;Bharti&nbsp;Airtel. They also believe that Vodafone&nbsp;Idea may have to file for bankruptcy, if no relief is provided.

India's domestic air passenger traffic rose 2.20% in January 2020 on a year-on-year basis, official data showed. According to the Directorate General of Civil Aviation (DGCA), passengers ferried by domestic airlines during the month rose to 1.27 crore as against 1.25 crore for the corresponding period of the previous year. However, on a sequential basis, the January growth rate was marginally lower than the 2.56% increase in passenger traffic during December 2019.

FM & RBI head meet PSU Chiefs before Budget

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