A look at the headlines in the sector right now:

  1. Reliance Jio will offer world's lowest data charges, free voice calls across India: Mukesh Ambani: According to the RIL chairperson, Jio's 4G network will cover 18,000 cities and towns, and more than two lakh villages.
  2. Sensex, Nifty close lower after telecom stocks face massive fall following Reliance Jio launch: Shares were also affected after official data showed India’s GDP growth slowing to 7.1% in the April-June quarter.
  3. 11 cement companies fined Rs 6,320 crore for forming a cartel and fixing prices: Fair trade regulator CCI said by banding together on matters of production and distribution, they had hurt customer interests and the economy.
  4. Reliance Industries Ltd made unfair gains from ONGC’s field in KG basin: Justice AP Shah committee: The Mukesh Ambani-led company should compensate the government for illicitly using 8.9 billion cubic metres of gas that flowed into its own field.
  5. Price of subsidised LPG increased by Rs 2 per cylinder, bringing cost to Rs 425 in Delhi: The move to hike the rate in phases is part of the Centre's plan to eliminate subsidies on cooking gas.
  6. Vedanta's plea to export iron ore from Karnataka rejected by Supreme Court: The bench said the National Mineral Development Corporation may continue its dual pricing policy of the mineral in the country.
  7. Apple to shift billions in profits to United States next year for tax purposes, CEO Tim Cook says: His statement came two days after the European Commission ordered the technology giant to pay €13 billion plus interest in taxes to Ireland.
  8. Google enters Uber territory with ride-sharing service in San Francisco: Officials said the service will link passengers with non-professional drivers going to the same destination and customer reviews will filter problem cabbies.