A look at the headlines in the sector now:

  1. Moody's maintains India growth prediction at 7.5%, hikes forecast for China: The credit rating firm said a change in trade pacts after the US presidential elections may prove to be risky for the global economy.
  2. Singtel to buy 7.39% stake in Bharti Telecom Ltd: Singapore Telecommunications said it will also acquire 21% of Thailand's Intouch Holdings, the biggest shareholder of the country's top mobile operator.
  3. Alibaba eyes entry to Indian market, holds talks with domestic firms: Among the various companies with whom the Chinese e-commerce giant has discussed possible alliance include Snapdeal and Shopclues.
  4. Sensex ends trading to close 118.07 points higher, Nifty up 49.20 points: Indian markets were boosted both by banking stocks and indications that the United States’ Federal Reserve won’t cut rates in September.
  5. Altico Capital to invest Rs 200 crore in Bengaluru realty firm: The money from the non-banking financial company will be used to fund constructions by Legacy Global Projects Private Limited.
  6. Cisco Systems to lay off 5,500 jobs worldwide: It is likely to affect India where the networking giant has 11,000 employees.
  7. Centre imposes fine of $380 million on Reliance Industries and its partner for missing production target: Now, the total fine slapped on RIL stands at a cumulative $2.76 billion.