At least Rs 10.52 trillion worth of corporate loans — around 16 per cent of the system-level corporate debt — is likely to default over the next three years due to prolonged slowdown in the economy. Further, around 25 per cent of the vulnerable debt is likely to turn delinquent, resulting in additional Rs 2.54 trillion of delinquent debt, according to a recent report by India Ratings & Research. This is likely to result in incremental delinquencies to the extent of 4 per cent of the system-level corporate debt, the report adds.

Ashok Leyland reported a 47 per cent drop in the total medium and heavy commercial vehicle (M&HCV) domestic sales during the month of February 2020 at 6,745 units as against 12,621 units, a year ago.

The drop came due to the truck business, which dropped by 58 per cent to 4,706 units from 11,117 units, while domestic bus sales rose by 36 per cent to 2,039 units from 1.504 units.

Shares of Bajaj Auto slipped 4 per cent to Rs 2,785 on the BSE on Monday after the company reported a 10 per cent year on year (YoY) drop in total auto sales at 354,913 units for the month of February 2020.

The two-wheeler maker missed analysts' expectations by a decent margin. Nirmal Bang Equities, for instance, had expected total auto sales of 382,844 units, while Emkay Global Financial Services had expected total sales of 374,000 units for the month.

Goods and Services Tax (GST) collection crossed the Rs 1-trillion-mark for the fourth month in a row in February at Rs 1.05 trillion. The GST collection, which grew 8.3 per cent year-on-year (y-o-y) in the month, was a tad lower than Rs 1.10 trillion mopped up in the previous month.

GST collection had grown 8.1 per cent y-o-y in January. The mop-up could have been much higher, but tax on imports fell 2 per cent y-o-y. However, experts ruled out the impact of the coronavirus outbreak in China on imports since these are contracted three months in advance.

Shares of Tata Power hit an over 13-year low of Rs 45.35, down 3 per cent, on the BSE in an otherwise firm market on Monday. Thr stock has fallen 13 per cent in the past week on the back of heavy volumes after concerns emerged that the electric utilities firm may snap power lines to five states beginning March if they don't agree to tariff increases. The stock of the Tata Group Company was trading at its lowest level since July 28, 2006.

Shares of car-maker Mahindra and Mahindra hit a fresh 52-week low of Rs 444.6, down 2.5 per cent on the BSE on Monday, in an otherwise strong market, after the company's total sales in February plunged 42 per cent year-on-year (YoY). The sales stood at 32,476 units in the previous month, as against 56,005 units sold in the same month last year, M&M said in a statement.

Supreme Court will on Monday hear the curative petition filed by one of the four death row convicts, Pawan Kumar Gupta, seeking commutation of his death penalty to life imprisonment in the 2012 Nirbhaya gang rape and murder case.

Gupta had on Friday filed a curative petition before the apex court seeking commutation of his death sentence to life imprisonment. He is the fourth convict in the case to file a curative petition.

The Central Board of Secondary Education (CBSE) on Sunday said school principals had been requested to provide a list of students who would not be able to appear in the board exams to be conducted till March 7 in the violence-affected areas. For these students, exams would be held at a later date.

Considering the difficult situation that continues with some of the candidates, the CBSE is prepared to hold examinations at a later date for such candidates who would not be able to appear for the examinations up to 7th March, said CBSE in a statement.

The Goa government on Saturday warned all high-end restaurants operating along the coastal belt in the state to obtain the Food and Drugs Administration (FDA) licence within a month or face shutdown.

The warning comes amid concerns over rising food adulteration and use of carcinogenic chemicals in fruits and vegetables by traders.

Bharti Airtel said it has paid an amount of ₹3,004 crore towards the full and final settlement of its adjusted gross revenues (AGR) dues in addition to ₹10,000 crore already paid on February 17, 2020 on behalf of the Bharti Group of Companies.

The company added that it has also deposited an additional amount of ₹5,000 crore as an ad-hoc payment (subject to subsequent refund or adjustment) to cover differences, if any, arising from the reconciliation exercise with the Department of Telecommunication (DoT).

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