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Biz EOD: Tracking India's economic health; Unlock 3.0 announced; Maruti's worst quarter ever

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | July 29, 2020 | Updated 23:29 IST
Biz EOD: Tracking India's economic health; Unlock 3.0 announced; Maruti's worst quarter ever
Top stories from the world of business and economy

India's economy has been hit the hardest due to prolonged lockdown spanning over four months, however, some sectors have held the fort. Ministry of Home Affairs unveiled the Unlock 3.0 guidelines under which gymnasiums and yoga institutes will be reopened from August 5. India's largest carmaker Maruti Suzuki India has reported its worst-ever performance in a quarter, logging a loss for the first time in the first quarter of this fiscal. Read for more top stories from the world of business and economy:

1. Where are early signs of economic revival after COVID-19 lockdown?

Though India's economy has been hit the hardest due to lockdown, some sectors have held the fort, with agriculture, exports, consumer durables, FMCG recording growth.

2. Unlock 3.0: Schools, Cinemas, metros to remain shut till Aug 31

Unlock 3.0 guidelines: Schools, cinemas, metro trains will remain closed till August 31, while gymnasiums and yoga institutes will be reopened from August 5.

3. Maruti reports its worst quarterly performance ever, logs Rs 249 crore loss in Q1

The company has seen many troughs in the past including weak performance between 2011 and 2013 when multiple labour unrest at its Manesar factory crippled its production. It also suffered like others in the aftermath of the global financial crisis of 2008 but even then it always managed to stay in black.

4. Anil Ambani loses ADAG Mumbai headquarters to YES Bank

Anil Ambani-led Reliance group is one of the biggest borrowers of YES Bank with exposure of over 12,000 crore.

5. Indian firms lose Rs 14 crore to data breaches in 8 months

Top three root causes of data breach were reported to be malicious attack (53 per cent), system glitch (26 per cent) and human error (21 per cent). Rs 5,522 was the cost per lost or stolen record in the 2020 study, an increase of 10 per cent from 2019.

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