A look at the headlines in the sector right now:

  1. 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’.
  2. 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.
  3. 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.
  4. 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.
  5. 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’.
  6. 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.
  7. 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.