A look at the headlines in the sector right now:
- India’s GDP to grow by 7.6% in 2016-’17, IMF says in fresh report: The organisation revised its earlier growth figures for the country, citing reasons including ‘effective policy actions’.
- Google launches Pixel smartphones with built-in Google Assistant: In India, pre-orders start from October 13, and the starting price will be Rs 57,000.
- Reliance Infrastructure to sell power transmission business to Adani to reduce debt: While the size of the deal was not revealed, reports said it was in excess of Rs 2,000 crore.
- Sensex closes 114 points down, Nifty slips below 8,800 as banking, IT stocks see profit booking: The markets had made gains in early trading before ending lower, a day after the Reserve Bank of India announced an interest rate cut.
- ONGC Videsh to acquire 11% stake in JSC Vankorneft from Russia's Rosneft Oil: The deal is in line with the company’s goal of ‘adding high quality international exploration and production assets’.
- Government’s spectrum auction receives bids worth Rs 63,000 crore on fourth day: So far, commitments have been made for approximately 40% of the bandwidth put up for sale.
- Facebook Messenger’s end-to-end encryption now available for all users: The feature first began rolling out to the social network’s users in August.