Here's a roundup of the day's top stories in brief.
1. GST Collections Cross Rs 1 Lakh Crore For Fifth Straight Month
Goods and services tax revenue for January, collected in February, was at Rs 1.13 lakh crore, according to a statement from the Ministry of Finance. That was 7% higher over the year earlier, but 6% lower than the preceding month—an all-time high.
2. BPCL's Rs 9,900-Crore Sale
The board of Bharat Petroleum Corp. approved the sale of its 61.25% stake in the Assam-based Numaligarh Refinery Ltd. for Rs 9,876 crore ahead of the sale of the state-run refiner and retailer.
3. Shift In India's Credit Mix
While credit growth slowed this fiscal because of the pandemic, various loan segments point to an unequal recovery after the Covid-19 lockdown that stalled economic activity. Retail credit and loans to industry fell while loans to the services category, however, surged.
4. Sensex Recovers Some Of Friday's Losses
Indian equity markets staged a comeback, with benchmark indices rising around 1.5% each. Auto, cement and PSU stocks were among the top performers in today's session.
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5. Hero Moto, Tata Motors Shine In February
India's largest two-wheeler manufacturer sold 5.05 lakh units in February, while Tata Motors Ltd. reported its best car sales in nearly nine years. See how Indian automakers fared in February.
6. How India's Hotels Got Leaner Due To Pandemic
While daily life is nowhere back to normal, there are early signs that the hospitality industry may be hurt less than was imagined earlier, and some players could recover lost ground a lot more than others, writes Niraj Shah.
7. HDFC Bank: Another Outage
HDFC Bank Ltd., said issues related to internet banking were resolved after some customers faced the second outage in three months.
8. Ambani's Payments Licence Partnership
Reliance Industries Ltd. is teaming up with its investors Facebook Inc. and Google, as well as homegrown technology service provider, Infibeam Avenues Ltd., to apply for a digital payments business license from the RBI, Bloomberg reported citing people with knowledge of the matter.
9. Oil Rallies, Gold Rebounds
Oil futures rebounded from their biggest slump since November and rose above $65 a barrel ahead of a key meeting of OPEC and its allies.
Gold, too, bounced back after its biggest monthly slump since 2016 after dovish comments from major central bankers helped curb rising bond yields.
10. Modi Kicks Off Phase 2 Of India's Vaccination Drive
The Indian government has opened up the second phase of the Covid-19 vaccination drive from today for people above 60 years of age and those over 45 years with comorbidities. Prime Minister Narendra Modi, 70, took the first dose of the vaccine at AIIMS. According to the PMO, he was given Bharat Biotech's Covaxin shot.
Took my first dose of the COVID-19 vaccine at AIIMS.
March 1, 2021
Remarkable how our doctors and scientists have worked in quick time to strengthen the global fight against COVID-19.
I appeal to all those who are eligible to take the vaccine. Together, let us make India COVID-19 free! pic.twitter.com/5z5cvAoMrvEssential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
