A look at the headlines in the sector right now:
- Nifty hits 12-month high of 8,636, Sensex jumps 292 points to close at 28,095: Energy shares gained amid reports that the Cabinet Secretariat has introduced a proposal suggesting a merger of 13 public sector undertaking oil firms.
- US telecom giant Verizon confirms $4.8-billion deal to buy Yahoo’s internet business: The company is expected to combine Yahoo's operations with that of AOL – another once-popular internet firm it owns.
- Nintendo's shares plummet after firm says Pokémon GO's success has limited impact on revenue: The Japanese gaming giant had explained that it owns only 32% of The Pokémon Company, which receives the app's licensing fees.
- Shah Rukh Khan gets notice from I-T department, asked to reveal offshore assets: The move comes as the government is seeking information on overseas assets to flush out black money holders.
- Supreme Court asks Vijay Mallya to file reply on details of his assets within four weeks: Bankers had moved the apex court seeking contempt proceedings against the former liquor baron for not giving details about the money he got from Diageo Plc.
- FIR filed after internet service providers across Mumbai complain of cyber attack: Many users had been calling in about very slow speeds from across the city, causing the police to suspect an organised crime.
- RBI fines Bank of Baroda Rs 5 crore after finding irregularities: The apex bank found irregularities in anti-money laundering provisions that came to light in October 2015.