Top headlines: Equity MFs continue to see outflows; Uttarakhand CM resigns

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Equity mutual funds see outflows for 8th straight month in Feb 

Equity and equity-linked mutual fund schemes saw a net outflow of over Rs 10,000 crore in February. As per data furnished by the Association of Mutual Funds in India (AMFI) on Tuesday, the net outflow stood at Rs 10,468.02 crore in February. In January, net outflow stood at Rs 9,253.22 crore from Rs 10,147.12 crore in December. Read more

Global stocks recover on retreat in US yields

Global stocks steadied on Tuesday, supported by stronger U.S. equity futures and a decline in U.S. and European bond yields. In Europe, the Euro STOXX 600 was up 0.1% after a gains on Monday that lifted Germany's index to a record high. In volatile trading in Asia, the Shanghai Composite index fell 1.8% and was close to a correction from a multi-year high on Feb. 18 amid fears of policy tightening. Read more

Trivendra Singh Rawat resigns as chief minister of Uttarakhand

Uttarakhand Chief Minister Trivendra Singh Rawat on Tuesday announced his resignation to governor Baby Rani Maurya. The move comes amid speculations in the state political circles about an imminent change of guard. "The party gave me a golden opportunity to serve this state for four years. I had never thought that I would get such an opportunity. The party has now decided that the opportunity to serve as CM should be given to someone else now," said Rawat in Dehradun after meeting governor. Read more

PV retail sales rise over 10% in Feb: FADA

Automobile dealers' body FADA on Tuesday said passenger vehicle (PV) retail sales in February witnessed an increase of 10.59 per cent to 2,54,058 units on account of low base of last year. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,274 out of the 1,481 regional transport offices (RTOs), PV sales stood at 2,29,734 units in February 2020. Two-wheeler sales however declined 16.08 per cent to 10,91,288 units last month, as compared to 13,00,364 units in February 2020. Read more

Delhi govt presents Rs 69,000-crore Budget

The Delhi government presented a Rs 69,000-crore budget themed on "patriotism" for financial year 2021-22 on Tuesday, announcing free COVID-19 vaccination to all in its hospitals in the coming phases of the ongoing inoculation drive. Presenting the budget, Deputy Chief Minister Manish Sisodia said it is based on "deshbhakti" (patriotism) as it pays tributes to freedom fighters and hopes to work towards building the capital and the country, as envisioned by them. Presenting the budget for the seventh consecutive time in the Assembly, Sisodia proposed to allocate Rs 16,377 crore, one-fourth of the total budget, for the education sector while the health sector got Rs 9,934 crore. Read more