A look at the headlines in the sector right now:

  1. Sensex rises 377 points, Nifty 126 as Monetary Policy Committee meeting: Banking and auto stocks witnessed the biggest gains of the day amid expectations for an RBI rate cut.
  2. CAG may audit performance of Income Declaration Scheme, will not examine individual disclosures: The central auditor is also examining entities that have claimed tax exemptions on agricultural income.
  3. Anil Ambani’s Reliance Group ties up with Dassault to help French firm invest in India for Rafale deal: The defence company has agreed to invest 50% of its earnings from the contract with the government to supply 36 units of the aircraft, as per a new rule.
  4. SBI set to become the first domestic bank to open branch in Myanmar: Chairperson Arundhati Roy said the Yangon branch will be its 54th foreign division.
  5. Canada’s CDPQ signs deal with Edelweiss to invest Rs 5,000 crore in country’s stressed assets: The Quebec-based pension fund will make annual investments of Rs.1,250 crore. 
  6. Farmer organisations across the country protest against GM mustard: A government-conducted biosafety report had declared a variety of genetically modified mustard safe for humans and animals.
  7. Lodha panel asks banks handling BCCI accounts to stop disbursing funds: According to its directives, the cricketing body is not supposed to make any decision on issues besides ‘routine matters’, the committee said.