Biz EOD: Rana Kapoor in soup; aviation sector down with coronavirus; tough times for automakers

Biz EOD: Rana Kapoor in soup; aviation sector down with coronavirus; tough times for automakers

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

The Enforcement Directorate has charged Rana Kapoor with money landering and criminal conspiracies, among other things. Poor demand and large-scale cancellations due to the coronavirus contagion have weighed upon the Indian aviation industry. Disrupted supply of raw materials from China has Indian auto manufacturers worried about shortfall in prodcution across the board, and even delay in BS-VI rollout.

1. Yes Bank crisis: ED puts Rs 20,000 crore NPAs blame on Rana Kapoor

Yes Bank founder Rana Kapoor denied the allegations and said he was being made a scapegoat. He added that when he left the bank, the NPA of Yes Bank was only one per cent.

2. Air fares crash due coronavirus; IndiGo, Air India, SpiceJet, Vistara feel the pinch

Indian domestic airlines might soon start suspending flights on domestic routes as air travel demand suffers due to coronavirus outbreak.

3. SIAM warns coronavirus to hit auto production, BS-VI rollout

While auto manufacturers have started looking for alternatives, it would take a long time to reach stable production scale as these components will need regulatory testing.

4. IRCTC share: Market's bullet train runs out of steam in 10 sessions, what lies ahead?

Share price of IRCTC has lost 38 per cent from its all-time high of Rs 1,995 hit on February 25, 2020. Rs 1 lakh infused into IRCTC stock on February 25 would have turned to Rs 61,463 today.

5. Gold price recovers on hopes of economic revival amid coronavirus scare

Gold price in India fell today, in line with international rates on hopes of global economic stimulus efforts to cushion the economic impact of the coronavirus that continued to spread rapidly.