Top 10 finance news of the day, June 9, 2020

Big win for Gautam Adani. Walmart's Flipkart rolls out voice assistant to make shopping easier. Comparing the COVID-19 crisis to the 2008 recession.

Here are major finance stories of the day.

Adani wins world's largest solar project; to invest Rs 45,000 cr

Billionaire Gautam Adani's renewable energy firm Adani Green Energy on Tuesday said it has won the world's largest solar order to build 8 gigawatts of photovoltaic (PV) power plant along with a domestic solar panel manufacturing unit at an investment of Rs 45,000 crore. Read more

FM reviews progress of Rs 3 lakh crore credit guarantee scheme for MSMEs

Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. Read more

Brokerages cut price target for this PSB stock; still see upside of 80%

The leading PSB lender State Bank of India in its Q4FY20 results released on Friday posted a profit at Rs. 3580 crore, which is a nearly four fold jump in consolidated net profit. This was however on account of share sale in SBI Cards. Read more

Walmart's Flipkart rolls out voice assistant to make shopping easier

Flipkart is rolling out a voice assistant feature to its platform to make it easier for consumers to shop as the Walmart-owned e-commerce giant looks to expand its reach in the nation. Read more

Comparing the COVID-19 crisis to the 2008 recession – Everything you need to know!

With month-long lockdowns being implemented worldwide, it doesn’t tax a Financial Guru to predict a recessionary economy. Pre-existing geo-political conditions from 2019 end had already started stressing the economic growth when the Covid-19 Virus was detected and declared as a pandemic. Read more

The Government’s restarting the economy step by step – Let us recap!

Early in 2020, China announced the detection of the novel Coronavirus which has taken over the global economy today. From the early detection of Covid19 to its status as a pandemic and the lockdowns announced by the Indian Government, it’s tough to keep track of everything that has happened. Read more

India's sovereign rating downgrade created six 'fallen angels': Moody's

India's sovereign rating downgrade has created six 'fallen angels', or companies in the non-financial sector whose ratings have dipped to just one notch away from being considered junk, global ratings agency Moody's Investors Service said on Tuesday. Read more

Jeff Bezos now worth $150 bn as his wealth continues to rise despite coronavirus pandemic

Amazon CEO Jeff Bezos is now worth $150 billion after he added almost $35 billion to his net worth so far this year, according to the Bloomberg Billionaires Index. Bezos' wealth is largely linked to Amazon's climbing stock price. Read more

Turbocharged petrol cars for under Rs 10 lakh

Looking for a practical family car that’ll liven up your routine drives without breaking the bank? Here’s a list of all the fun-to-drive turbo-petrol cars on sale in India for under Rs 10 lakh, in order of starting price. Read more

This Delhi-based startup has developed UV sterilisation box to disinfect daily use objects within 3 minutes

Green Grapes Devices, a Delhi-based digital display solutions startup has developed a product called UV Sterilisation Box for sterilising small-sized objects such as mobile phones, watches, rings, currency, masks, key rings, etc.  Read more