Shares of telecom companies declined as much as 40 per cent on Wednesday after the Supreme Court said that the self-assessment of adjusted gross revenue (AGR) dues by the firms or the Department of Telecommunication (DoT) may amount to contempt of court.

Among individual stocks, Vodafone Idea tumbled 40 per cent to Rs 2.91 per share. At 11:35 am, the stock was trading 25.36 per cent lower at Rs 3.62 as compared to 2.06 per cent fall in Sensex.

Google on Wednesday appointed long-time industry veteran Karan Bajwa as Managing Director of Google Cloud in India.

A senior leader with over three decades of leadership experience, Bajwa will be responsible for driving all revenue and go-to-market operations for Google Cloud's extensive solution portfolio that includes Google Cloud Platform and G Suite in the country.

Senior Congress leader Digvijaya Singh and Karnataka Congress chief DK Shivakumar were placed under preventive arrest in Bengaluru after they attempted to visit the hotel where several rebel Congress MLAs from Madhya Pradesh are staying.

Singh sat on a dharna outside the Ramada Hotel after he was not allowed by the police to meet the rebel lawmakers in the hotel. He was later taken into preventive custody by the police.

The coronavirus infection has reached the Indian Army as a soldier from Leh is reported to have tested positive for the virus. He was on leave from February 25 to March 1 and during that time, his father had returned from a pilgrimage in Iran.

The jawan is said to belong to the Ladakh Scouts. As per news reports, he is being treated while his family including his sister and wife have been put in quarantine. His father has also tested positive.

As the number of coronavirus cases in India rose to 139 on Tuesday, the Union Ministry of Health and Family Welfare and the Indian Council of Medical Research (ICMR) on Tuesday issued guidelines for private laboratories to conduct tests and appealed them not to charge anything for it.

According to the guidelines, the private labs would work under the domain of ICMR.

Power utilities having significant exposure to regulated business such as NTPC and Power Grid may have corrected with the decline in broader indices, but analysts maintain a positive view.

NTPC and Power Grid earn a certain regulated return on their capital irrespective of demand for power and the flow of power, and hence excluding some temporary collections issues that may emerge, analysts at HSBC see little risk to earnings for the two companies.

YES Bank, on which the Reserve Bank of India (RBI) had imposed a moratorium, will resume normal operations from 6 pm on Wednesday.

On Tuesday, administrator of the troubled private sector lender, Prashant Kumar, said that YES Bank will resume normal operations from 6 pm on March 18 and it has no liquidity problem.

Lender IndusInd Bank on Wednesday reiterated that it is financially strong, well-capitalised, profitable, and a growing entity with strong governance.

The bank's statement comes in the wake of significantly higher level of speculation around its stock.

On Wednesday, the bank's stock on the BSE fell by Rs. 61.10 or 9.20 per cent to close at Rs. 603.05 from its previous close.

Maharashtra Chief Minister will on Tuesday take a decision on suspending the lifeline of Mumbai, the local train services for some days as the number of confirmed cases of coronavirus in the state rose to 39 on Monday. The decision is said to be a measure to prevent the spread of the virus as lakhs of people use the local trains to commute.

The matter is being discussed at the state cabinet meeting on as the Maha Vikas Aghadi government has maintained that the virus must not be allowed to spread from 'Phase II to Phase III' at any cost.

The Taj Mahal will be closed for tourists from Tuesday onwards amid the novel coronavirus pandemic.

Officials said that the decision was communicated to them on Monday night by the Ministry of Tourism in New Delhi.

The Taj Mahal's closure will be a major jolt to the domestic tourism industry, particularly the hospitality sector since the shutdown would lead to more cancellation of bookings in Agra.

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