Mumbai, March 26 (IANS) Indian equity indices surged on Thursday morning with the BSE Sensex gaining over 1,100 points.
The rise in the stock market was in line with the gains in the Asian indices. Healthy buying in finance and banking stocks also supported the domestic indices.
At 10.12 a.m., Sensex was trading at 29,710.48, higher by 1174.70, or 4.12 from the previous close of 28,535.78.
It had opened at 29,073.71 and has so far touched an intra-day high or 29,768.99 and a low of 28,566.34.
The Nifty50 was trading at 8,625.35, higher by 307.50 points or 3.70 per cent from the previous close.
On the Sensex, IndusInd Bank, Axis Bank and Bajaj Auto were the top gainers, while NTPC, ITC and Maruti Suzuki were the only stocks that fell so far.
Chennai, April 2 (IANS) In order to boost the manufacture of anti-malarial, anti-virul drugs, invasive ventilators, intensive care unit (ICU) monitors, masks and personal protective equipment (PPE), the Tamil Nadu government on Thursday announced incentives like guaranteed off take, interest subsidy and others.
The measures were announced to meet the increased demand for the above items to treat the increasing Coronavirus infected persons in the state.
According to the government, eligible units will be provided with:
- guaranteed sourcing of 50 per cent of the production by Tamil Nadu Medical Services Corporation
- 30 per cent investment subsidy subject to a maximum of Rs 20 crore spread out equally over five years
- micro/small/medium scale units involved in production of the above items will be classified as `Thrust Sector' and be offered the existing incentives;
- the units can start production and necessary permissions could be obtained later under single window clearance process
- 100 per cent exemption from stamp duty
- interest subsidy on working capital loan up to six per cent for two quarters till December 31, 2020.