A look at the headlines in the sector right now:
- Indian economy recorded 7.1% GDP growth in April-June, down from 7.9% in first quarter: Economists had predicted 7.6% growth for the quarter.
- RBL Bank stock rises 36% on debut as Sensex, Nifty end higher for third straight day of trading: Banking and capital goods stocks led the trading session’s gains, with UltraTech Cement and Kotak Mahindra Bank among the best performers.
- President Pranab Mukherjee to notify GST council as Goa becomes 15th state to ratify Bill: The Assembly gave its consent for the legislation unanimously, and Chief Minister Laxmikant Parsekar said the new tax regime won't have negative impacts.
- Zee announces sale of TEN Sports network to Sony Pictures in $385-million deal: However, the acquisition will be completed only after approval from the regulatory body.
- Cabinet approves 'radical' changes in FDI policy, 100% foreign investment in a number of sectors: The policy amendments are part of efforts to improve ease of doing business, which will in turn boost investment inflow, growth and employment opportunities.
- E-carts, e-rickshaws no longer need permits, but states can restrict their movement in traffic: The Ministry of Road Transport and Highways issued a notice that said specific sections of the Motor Vehicles Act will not apply to these means of transport.
- It is acceptable for companies to appoint qualified female relatives on their boards, says SBI chief: Arundathi Bhattacharya commented on firms that have been appointing family members to comply with an SEBI directive to have at least one woman board member.
- India clinches deal to launch 68 overseas satellites: ISRO's commercial arm Antrix Corporation will release the spacecrafts from various countries, including 12 from the US.