A look at the headlines in the sector right now:
- 5,610 wilful defaulters owe Rs 58,792 crore to state-owned and private sector banks, says data: According to the list released by the All India Bank Employees' Association, State Bank of India account for the highest default amount – Rs 18,576 crore.
- HDFC Bank registers 20% higher net profit in first quarter: The country's second-largest private lender said the year-on-year rise was because of higher interest and fee income.
- Craft beer Bira makers set to sell stakes to TR Capital: The Hong Kong-based private equity firm is likely to invest about $10 million in B9 Beverages.
- Amazon beats Flipkart in retail app downloads in India: However, the Bangalore-based company is ahead of the American e-commerce giant in terms of monthly active users.
- Global trends push silver prices to fall below Rs 46,000 mark: According to traders, equities gains and a stronger dollar affected demand for gold as well, though it held steady on Thursday.
- Elon Musk unveils new 'Master Plan' for Tesla: Electric trucks, buses and driver-less Uber: He aimed to extend the automaker's focus beyond personal automobiles and also allow owners to let the cars earn money by driving others when not being used.
- Arun Jaitley says India needs a mix of fiscal and monetary policies to deal with Brexit fallouts: According to the finance minister, Britain's decision to exit from the European Union has further heightened uncertainty, market volatility and risk-averse behaviour.