Business highlights

·4-min read

New Delhi, Feb 2 (PTI) Following are the top business stories at 1900 hours: DEL47 BIZ-LD STOCKS Benchmarks build on gains as Budget cheer continues; Sensex leaps 1,197 pts Mumbai: The Sensex soared nearly 1,200 points while the NSE Nifty reclaimed the 14,600-mark on Tuesday as the post-Budget rally continued for the second session with brisk buying in banking, finance and infra stocks. DEL54 BIZ-LD-RUPEE Rupee rises 6 paise to end at 72.96 against US dollar Mumbai: The rupee gained 6 paise to settle at 72.96 against the US dollar on Tuesday tracking weak American currency and heavy buying in domestic equities.

DCM58 LSQ-FARMLAWS No info on losses incurred by farmers for not being able to sell produce in Delhi due to protest: Tomar New Delhi: The Centre has not received any information on losses incurred by farmers for not being able to sell their produce in the national capital owing to the farmers' protest at various border points of the city against new farm laws, Parliament was informed on Tuesday.

DEL65 BIZ-VACCINE-PM CARES PM-CARES Fund to foot over 80% cost of 1st phase of Covid vaccination drive New Delhi: The PM-CARES fund, which has been set up to provide relief during the coronavirus pandemic, has contributed over Rs 2,200 crore for the first phase of vaccination drive, which is looking to inoculate frontline healthcare workers, the Expenditure Secretary said on Tuesday.

DCM43 BIZ-KEROSENE-SUBSIDY Govt eliminates subsidy on kerosene via small price hikes New Delhi: The government has eliminated subsidy on poor man's fuel kerosene through small fortnightly price increases and the fuel sold through the public distribution system (PDS) is now priced at market rates.

DCM45 BIZ-DISINVESTMENT BPCL, Air India stake sale by Sept; LIC IPO post Oct: DIPAM Secy New Delhi: The initial public offering (IPO) of India's largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government's divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal.

DCM37 BIZ-TRADE-UNIONS-PROTEST Trade unions call for nationwide protest on Wed against privatisation, other policies in Budget New Delhi: A joint platform of 10 central trade unions on Tuesday gave a call for a nationwide protest on February 3 against privatisation and other 'anti-people' policies proposed in the Budget for 2021-22 and to press for scrapping labour codes and providing income and food support to the families of poor workers.

DCM65 BIZ-LD RESULTS-HDFC HDFC Ltd posts Rs 5,177 cr net profit in Q3 Mumbai: Mortgage lender HDFC Ltd on Tuesday reported a consolidated profit after tax of Rs 5,177 crore in the third quarter this fiscal compared to Rs 3,835 crore in the year-ago period.

DCM25 BIZ-LD EXPORTS Exports rise 5.37 pc in Jan; trade deficit narrows to USD 14.75 bn New Delhi: The country's exports grew 5.37 per cent year-on-year to USD 27.24 billion in January 2021, mainly driven by healthy growth in pharma and engineering sectors, according to provisional data of the commerce ministry.

DCM16 BIZ-IOC-PIPELINE IOC to monetise pipeline assets, says many investors interested New Delhi: State-owned Indian Oil Corporation (IOC) is likely to sell stakes in one or two of its vast network of crude oil and petroleum product pipelines in the country under the asset-monetization plan, but won't give up control, its Director (Finance) Sandeep Kumar Gupta said Tuesday.

DCM15 RSQ-NPA-BANKS Banks' NPAs decline to Rs 8.08 lakh cr in Sep 2020 from Rs 10.36 lakh cr in Mar 2018: Govt New Delhi: Non-performing assets (NPAs) or bad loans of the banking sector came down from a high of Rs 10.36 lakh crore at the end of March 2018 to Rs 8.08 lakh crore at the end of September 2020 due to various initiative of the government, Minister of State for Finance Anurag Thakur informed the Rajya Sabha on Tuesday.

DEL30 BIZ-GOLD-PRICE Gold declines Rs 480; silver tumbles Rs 3,097 New Delhi: Gold in the national capital declined by Rs 480 to Rs 47,702 per 10 gram on Tuesday in-line with fall in global precious metal prices, according to HDFC Securities. PTI SHW SHW