A look at the headlines in this sector right now:
- Reliance Communications to sell 51% stake in mobile tower assets to Canadian firm Brookfield: The Anil Ambani-owned company said it will use the proceeds of the Rs 11,000-crore deal solely to repay its debts.
- India's wholesale inflation drops to 3.57% in September: The rate is expected to go down further because of a relatively good monsoon.
- Russia's Rosneft to acquire majority of shared stake worth $12 billion in Essar Oil, say reports: The acquisition's other stakeholders, Singapore-based trading firm Trafigura and Russia-based financial investor UCP, will split 49% of the 97.4% stake.
- China to sanction $24-billion credit line to Bangladesh: In 2015, India had approved a loan of Rs 2 billion (Rs 13,000 crore) to Dhaka.
- Infosys reports 6.1% increase in net profit for second quarter of financial year: While market experts had expected the multinational company to make a profit of Rs 3,526 crore, it recorded Rs 3,606 crore.
- Stocks of Larsen and Toubro soar as firm wins Rs 3799 contract from Railways: The order has been secured by a consortium of L&T and Japan’s Sojitz Corp.
- Centre to auction transmission projects worth Rs 50,000 crore: The decision was made with the aim to increase power evacuation capacity in the country