Business highlights

New Delhi, Mar 12 () Following are the top business stories at 1827 hours:

DEL84 BIZ-LD STOCKSSensex crashes 2,919 pts as corona contagion triggers global rout; investors lose Rs 11 lakh cr Mumbai: Indian equity benchmarks suffered their biggest ever one-day plunge to crash into bear territory on Thursday as the coronavirus pandemic left a trail of red across global financial markets.

DEL97 BIZ-RUPEE-CLOSERupee sinks to fresh 17-month low amid market meltdown, continued forex outflowsMumbai: The rupee slid by 56 paise to a fresh 17-month low of 74.24 (provisional) against the US currency on Thursday due to strong dollar demand as investors pruned riskier bets amid coronavirus pandemic fanning recession fears.

BOM27 BIZ-DEFICITIndia's current account deficit narrows to $1.4 bln in December quarterMumbai: India's current account deficit narrowed sharply to USD 1.4 billion or 0.2 per cent of GDP in the December quarter, the Reserve Bank said on Thursday.

DEL95 BIZ-IIPIndustrial production grows 2 pc in JanuaryNew Delhi: India's industrial output grew by 2 per cent in January amid subdued performance of manufacturing sector, government data showed on Thursday.

DEL94 BIZ-INFLATIONRetail inflation eases to 6.58 pc in FebNew Delhi: Retail inflation slowed to 6.58 per cent in February over the previous month mainly due to easing food prices, government data showed on Thursday.

DEL68 BIZ-SBI-YESBANK-STAKE-APPROVALSBI gets approval to invest Rs 7,250 cr in Yes BankMumbai: The country's largest lender State Bank of India on Thursday said it has received approval to buy Rs 7,250 crore worth of shares in crisis-hit Yes Bank.DEL101 BIZ-RBI-LD FOREX-DOLLARRBI to sell dollars worth USD 2 bn on Monday to sooth forex marketMumbai: The Reserve Bank will sell USD 2 billion worth of American currency to banks in a bid to infuse liquidity in the domestic forex market roiled by mounting concerns over coronavirus pandemic and crash in global oil prices.

DEL63 BIZ-RBI-STATE-DEPOSITSRBI asks state govts not to move deposits out of pvt banks; says money is safeNew Delhi: The Reserve Bank of India (RBI) has asked state governments not to transfer their deposits out of private sector banks saying apprehensions about the safety of deposits in private lenders are highly misplaced. DCM10 BIZ-NCLAT-CAIT-LD WALMARTNCLAT sets aside CAIT plea against CCI nod to Flipkart's acquisition by WalmartNew Delhi: The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed a petition filed by traders' body CAIT against CCI nod to Walmart's USD 16-billion acquisition of Flipkart.

DEL73 CORONAVIRUS-LD BIZ-TOURISMCoronavirus: Visa suspension may cost Rs 8,500 cr for travel, tourism, aviation sectorsNew Delhi: The coronavirus pandemic could bring Indian travel, tourism and aviation industries to a halt within next ten days, especially with the government suspending visas for a month, a move that could cause an immediate economic impact of at least Rs 8,500 crore, according to industry players.

DEL20 CORONAVIRUS-BIZ-DUTYFREE SHOPSCoronavirus: Passengers from 15 nations not allowed to enter Delhi airport duty-free shopping areaNew Delhi: Indian Customs has barred passengers arriving from 15 nations, including China, the US, Italy and South Korea, from entering duty-free shopping area at the Delhi airport in wake of the coronavirus pandemic.

DCM34 BIZ-GST-RATE HIKEGST on cellphones, fertiliser, man-made fabric, garments may be hiked to 18 pcNew Delhi: GST rates on mobile phones, fertilisers, man-made fabrics and garments are likely to be hiked to 18 per cent in the next GST Council meeting on March 14.DCM28 BIZ-AUTO-RETAIL SALES FADAPassenger vehicle retail sales down 1.17 pc in February: FADANew Delhi: Automobile dealers' body FADA on Thursday said retail sales of passenger vehicles, measured by registration, declined 1.17 per cent to 2,26,271 units in February.DCM21 CORONAVIRUS-BIZ-GOLDETFCoronavirus effect: Inflows into gold ETF hit all-time high of Rs 1,483 cr in FebNew Delhi: Gold exchange-traded funds witnessed an all-time high net inflow of Rs 1,483 crore in February, as slowdown in global economy amid the coronavirus outbreak led investors to opt for the instrument as a safe haven.DCM20 BIZ-LD INVESTOR WEALTHMarket mayhem wipes off over Rs 11 lakh crore investor wealthNew Delhi: Investor wealth worth over Rs 11 lakh crore was wiped off on Thursday as stocks crashed amid a global equity selloff after the World Health Organization declared the coronavirus outbreak a pandemic.

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