A look at the headlines in the sector right now:

  1. 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.
  2. 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. 
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.