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Top headlines: Uncertain future amid lockdowns; Vax production speeded From Airlines, hotels staring at uncertain future amid new curbs in Maharashtra to Swiggy closing $800mn fundraising round, here are top headlines this morning
Airlines, hotels stare at uncertain future amid new curbs in Maharashtra Just when airlines and hotels—battered by year-long Covid restrictions--were preparing to get back to normal business, the weekend lockdown announcement in Maharashtra threw their plans out of gear. While aviation and hospitality firms could face a significant slump in bookings, the retail industry may head for an uncertain future as well. Tightening of travel restrictions and
introduction of RT-PCR tests by more states had led to a near flat air traffic growth in February and demand will be dented further due to new curbs in Maharashtra. Read More FinMin confident of combating downside risk amid rising Covid-19 cases The finance ministry on Monday said the country was equipped -on the strength of the vaccination drive and the government’s management of the pandemic -- to combat any downside risks posed by the recent surge in Covid-19 cases. The ministry’s Economic Affairs Department, in its monthly report, said the capital expenditure (capex) cycle was in motion, and its signs would be seen in the second half of the year. Read More Maharashtra Covid-19 curbs sink markets; Sensex falls over 1,400 points Domestic stocks dropped on Monday following the imposition of strict restrictions in Maharashtra to contain the spread of Covid-19 infections, with investors fearing that the resurgence in virus cases could dent the economy recovery and hurt corporate earnings. The benchmark Sensex fell as much as 1,449 points, or 2.9 per cent, in intra-day trade. The index settled at 49,159, logging a loss of 870 points, or 1.7 per cent. The Nifty 50 index closed at 14,638, down 229 points, or 1.5 per cent. Both the indices fell the most since March 24. The rupee weakened 18 paise against the dollar to end at 73.29. Read More