Billionaire businessman Vinod Khosla promised to offer $10 million for the supply of medical oxygen to hospitals in India. This is in continuation with the Sun Microsystems co-founder's efforts to fund hospitals for oxygen supplies amid a surge in COVID cases in the country. India is struggling with a second wave of the pandemic with more than 3,00,000 new coronavirus cases being reported daily.

The total consolidated cargo traffic managed at the government-run ports (major and non-major) in India declined to a three-year low in FY21, contracting 5.3% y-o-y. At (6.2%), the fall has been sharper for non-major ports. However, there was a sharp increase in cargo handled in March, with volumes up 16% y-o-y (23% m-o-m) and 11% y-o-y (27% m-o-m)  for major and non-major ports, respectively.

Kotak Mahindra Bank on May 3 is likely to announce healthy growth in profit on account of lower provisions, NII and normalised credit cost YoY with stable asset quality QoQ. Net interest income could also see double-digit growth with the pick-up in loan traction. Loan growth could be 1-3% YoY and 4-5% QoQ, while deposit growth may be 8-9% QoQ and over 10% YoY, according to analysts.

Crude oil prices dipped on Monday as a catastrophic second wave of a Covid-19 in India cut short a recovery in oil demand there, offsetting optimism about a strong rebound in demand in developed countries and China. Brent crude futures for July fell 15 cents, or 0.2%, to $66.61 a barrel by 0244 GMT while U.S. West Texas Intermediate for June was at $63.48 a barrel, down 10 cents, or 0.2%.

Yes Bank's Chief Executive Officer, Prashant Kumar said that the private lender would evaluate the acquisition of Citi's retail banking assets, including credit cards and wealth management. Citigroup had on April 15 said it close its retail banking operations in 13 countries across Europe and Asia, including India. Yes Bank may join the list of suitors for Citibank's consumer/retail operations.

Warren Buffett offers a clear verdict Saturday on the state of the U.S. economy as it emerges from the pandemic: red hot. “It’s almost a buying frenzy,” the Berkshire Hathaway Inc. chief executive officer said during the conglomerate’s annual meeting, which was held virtually from Los Angeles. “People have money in their pocket and they’re paying higher prices,” he added.

Property registrations in Mumbai were the best in 10 years for April with more than 10,136 completed deals, due to a spillover effect from earlier months. The completed deals led to stamp duty revenue collection of Rs 514 crore during the month, according to data revealed by the Inspector General of Registration (IGR), Maharashtra.

Severely stressed gas-based power plants looks forward to the relaxing of norms from the government to bid for fuel from state-run Oil and Natural Gas Corporation’s (ONGC) KG-DWN-98/2 field located offshore on the east coast. ONGC has recently floated the tender for prospective buyers to bid for two million standard cubic meters per day (mscmd) gas from the field.

Vodafone Idea (Vi) expects its delayed fundraising will raise for about $1 billion (Rs 7,500 Cr) by the end of June. Vi has assured his lenders that it won’t back out on any upcoming payments. One of the Vi’s domestic lenders, a large public-sector bank, also extended a bank guarantee for about Rs 1,420 Cr by next year to clear its remaining dues to govt. for 4G spectrum acquired in March.

Sandeep Singhal, co-founder and managing partner of Nexus Venture Partners, a startup investor in some of India’s hottest unicorn startup companies such as Unacademy, Postman, Delhivery and Druva is seeing a co-founder leave the firm. Sandeep Singhal will not be involved with firm’s $500 million 6th venture fund that it is currently raising, or any future funds.

Yes Bank denies to sell any bad loans to the newly proposed National Asset Reconstruction Company (NARC) to be able to recover from bad debt collectors. The chief executive Prashant Kumar announced that Yes Bank is, at the same time, targeting to possess a majority stake in an ARC and is waiting for the new set of guidelines from the Reserve Bank of India (RBI).

More than 20 companies are expected to announce their quarterly (Q4) results today (May 03, 2021). Some of the important ones are- [1] Kotak Mahindra Bank, [2] SBI Life Insurance Company Limited, [3] Godrej Properties Limited, [4] Tata Chemicals and [5] Varun Beverages Limited. How will the market react today? Let us know in the comments section.

Citing the severe impact of the second Covid-19 wave, HDFC Bank has cut India’s growth projection from 11.5% to 10% for the current fiscal. Growth could be further lower at 8% in the worst-case scenario due to second wave of COVID-19. It sought to keep industry open to limit COVID impact on the economy but concerns are raised over the health of the workforce.

As per Chandan Taparia of Motilal Oswal, NIFTY50 formed a Bearish candle on the daily chart but a Bullish candle on the weekly frame with long upper shadow indicating it couldn’t sustain at higher zones. Now, it has to cross 14,700 to witness an up move towards 14,900 and 15,050 zone, while on the downside support exists at 14,400 and 14,250 zones. What do you think about the market tomorrow?

National Institute of Micro, Small and Medium Enterprise (NI-MSME), which trains MSMEs, individuals, and professionals for entrepreneurship development under the Ministry of MSME, posted almost 150% jump in the number of trainees trained during FY21. 95 training programmes involving 9,935 trainees were conducted in FY21 in comparison to 154 programmes involving 3,999 trainees conducted in FY20.