CRUDE OIL PRICE AT 1999 LOWS WITH CHANGING MARKET TREND

Oil prices reduced again on Wednesday with Brent falling to the lowest price since 1999. Brent crude ,which fell 24% in the previous session, touched $15.98 per barrel, its lowest since June 1999.

Oil prices have slumped by around 80% this year Covid-19 pandemic which spread across the world. It has killed nearly 180,000 people. routing financial markets and leading to potentially the worst economic meltdown since 1930s slowdown.

The viral outbreak has dropped fuel demand nearly to 30% worldwide and energy companies in the United States, the world's biggest producer, are scrambling to find storage for excess oil.

Date: 22/4/20 Information by Sources.

INDIA IS 17TH COUNTRY WHICH HAS MORE THEN 20000 COVID-19 PATIENTS & 600+ DEATH

India became 17th nation to cross 20,000 Covid-19 patients mark on 21/4/20.Death toll crosses 600+.

Gujarat emerged as 2nd Covid Hot sport after Maharashtra, Crosses 2000 mark in number of cases and overtook Delhi To claim 2 most infected state in India.

With continuously increasing no of cases,  Ahmedabad is leading in the state with more than 1300 cases.

Date: 22/4/20 Information by Sources

HDFC LTD CUTS INTEREST RATE BY 15 BASIC POINTS

HDFC LTD on Tuesday slashed its lending rate by 15 basis points.This move comes after a few market lenders, including the country's biggest lender SBI has reduced their lending rate.

"HDFC  reduces its  Retail Prime Lending Rate (RPLR) on housing loans, on which its  Adjustable  Rate Home Loans (ARHL) are bench marked, by 15 basis points (bps), with effect from April 22, 2020," the company said in a statement.

New  rates will now range between 8.05-8.85 per cent. The RBI last month cut the policy rate by 75 basis points to spur growth amid the COVID-19 crisis.

Date: 21/4/20  Information by : Sources

CORONAVIRUS IMPACT : SALARY CUT AIR ASIA INDIA / SOURCES

Air Asia India has declared salary cut of its pilot and all other employees.

Sources confirmed that air lines had implemented salary cut of 13 % for Captain and 7% for First Officers.As per Governments direction company has suspended all flights till May 03.

Employees earning Rs 50000 / month or less have escaped the salary cut. Similarly all other companies in aviation industries are thinking for similar steps to conserve cash flow. Apart from laying off expat pilots, airlines have either cut pays or have sent employees on leave without pay.

Date:21/4/20  By:Sources

CORONAVIRUS IMPACT: INFOSYS SUSPENDED PROMOTION & SALARY HIKE

Countries 2nd largest IT firm Infosys has suspended promotion and salary Hike in view of the ongoing Covid-19 pandemic that has claimed over 500 lives in Pan India.The firm said that it will honor all new job offers.

Infosys has reported 6.3% rise in Net Profit in Q4 to Rs 4335 crore for March 2020.

Infosys CEO and MD Salil Parekh said our team has achieved around 93 % remote working and ensuring consistent service delivery to their clients in present situation. 

Infosys COO Pravin Rao said the impact caused by Covid-19 since last few weeks of March has led to significant displacement in the operating modal while severely testing future business continuity plan of companies. 

Date: 21/4/20.