Live: Sensex Down Nearly 2%; Nifty Bank Falls 550 Points

The company has informed the exchanges that it ha resumed partial operations at its Unit-VII from May 11, after obtaining permission from local authorities.

Operations were shut on March 27 after the nation-wide lockdown was announced to curb the spread of Covid-19.

Shares fell as much a 5.32 percent to Rs 46.25. It is trading at its lowest in a month. After its nine-day gaining streak ended on April 20, 2020, the stock has gained only on four instances in the last 15 trading sessions.

India's commerce ministry is proposing a tax holiday for companies bringing in new investments, Bloomberg News reports citing people familiar with the matter.

The government is exploring measures to support the economy amidst the Covid-19 pandemic.

The Finance Ministry is evaluating the proposal to give a 10-year full tax exemption to companies making new investment upwards of $500 million. The plan will require companies to start operations within three years from June 1.

Sectors like medical devices, telecom equipment, electronics and capital goods are likely to be covered under this proposal.

The government is also mulling to provide a four-year tax holiday to companies that invest $100 million or more in labour intensive sectors like textiles, food processing, leather and footwear.

• Top performer on the Nifty Midcap Index
• Gains for the second straight day
• Up 9 percent in the last two trading sessions
• Best two-day returns in nearly two months
• Today's volumes are double than its 30-day average
• Trades near its 100-Day Moving Average of Rs 815.5
• Has gained 27 percent from its 52-week low of Rs 630 on March 23, 2020
• 24 out of the 34 analysts tracking the stock have a buy recommendation; 1 sell call
• Return potential of the stock as per Bloomberg data is 10.2 percent

• Reliance Industries' 1,600 Call: Premium falls 31.1 percent to Rs 32.7. The contract has added 42,000 shares in Open Interest.
• ICICI Bank's 300 Put: Premium rises 17 percent to Rs 13.05. The contract has added 1.91 lakh shares in Open Interest.
• Piramal Enterprises' 800 Put: Premium rises 113.5 percent to Rs 50.4. The contract has added 27,810 shares in Open Interest.