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Biz EOD: Lockdown to hit 50% of PV sales; RBI's liquidity boost may struggle; recovery of FT funds tough

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

twitter-logoBusinessToday.In | April 29, 2020 | Updated 22:45 IST
Biz EOD: Lockdown to hit 50% of PV sales; RBI's liquidity boost may struggle; recovery of FT funds tough
Top stories from the world of business and economy

The coronavirus outbreak is likely to negatively impact half of the passenger vehicle (PV) sales in FY21. The Reserve Bank of India's support measures for mutual funds may struggle to be effective, as low-capitalised banks are unlikely to extend liquidity to the sector without capital relief on the facilities. The fate of investors of the six closed debt funds and other fund of funds (FoF) investors will depend upon how quickly the Franklin Templeton fund house can sell all its securities. Read for more top stories from the world of business and economy:

1. Hotels to incur Rs 90,000 crore revenue loss in 2020

The fall was less steep compared to key Asian markets, which fell 65.4 per cent in China, 64.7 per cent in Malaysia, 62.6 per cent in Thailand and 53.6 per cent in Singapore, during the same period.

2. Coronavirus lockdown to hit 50% of passenger vehicles sales

According to an analysis, top 100 districts account for 62 per cent of passenger vehicle sales in volume terms, with 41 per cent coming from the top 40 districts alone.

3. Power discoms to record Rs 20,000 crore loss in FY21, says ICRA

The average thermal PLF (plant load factor), which determines the capacity utilisation for power companies is expected to fall from 56 per cent in fiscal 2020 to 54 per cent in 2020-21 against an earlier projection of 60 per cent.

4. RBI's Rs 50,000 crore liquidity boost for MF may struggle to be effective

Fitch feared that if the liquidity facility does not achieve its aims of supporting liquidity or restoring market confidence, more debt schemes will be forced to suspend redemptions.

5. BT Insight: Where 6 Franklin Templeton funds got stuck; recovery tougher

Franklin Templeton investors can hope to get better realisation of their locked investment if the market sentiment improves.

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