A look at the headlines in the sector right now:

  1. Flexi fare: Railways' surge pricing system comes into effect, to run on trial for three months: The new rates will apply to only 81 of the 12,000 passenger trains that operate every day, a railway board member said.
  2. Vijay Mallya says he wants to return to India but cannot because his passport was revoked: The businessman reportedly moved an application in Delhi's Patiala House Court, seeking a reversal of the External Affairs Ministry's decision.
  3. Learning startup Byju’s raises $50 million from Mark Zuckerberg’s Chan Zuckerberg Initiative: The investment is the first Asian one for the Priscilla Chan-Mark Zuckerberg philanthropic foundation, which has nominated a representative to Byju’s board.
  4. Yes Bank shares fall 12.5% in three days: Investors in the company's stock lost Rs7,400 crore as a result.
  5. Patanjali Ayurved gets 40 acres from Madhya Pradesh government for food processing unit: The company has been asked to deposit Rs 10 crore and will reportedly invest Rs 500 crore in the unit over the next three years.
  6. Hindustan Petroleum sets refining capacity target of 60 million tonnes 2030: Officials from the country's third-largest crude oil refiner said its expansion plans will help meet India's rising fuel demands. 
  7. Sensex closes almost 1% lower after reports of North Korea's alleged nuclear tests emerged: Investors were also cautious as the release of July's Index of Industrial Production data was due on Friday.