A look at the headlines in this sector right now:
- Andhra Pradesh, Telangana pass Gujarat in ease of doing business rankings: Officials said the national average for implementing features of the Business Reform Action Plan stood at 48.93% as against 32% last year.
- Diwali sales of Chinese goods fell by 60% this year, says traders’ body: The Confederation of All India Traders said the decline was driven by a social media-led boycott call.
- Stock markets shut on Monday on account of Diwali holiday: The Bombay Stock Exchange Sensex ended 14.31 points higher at 27,930.21 on Sunday in muhurat trading, while the National Stock Exchange Nifty rose 10.45 points to end at 8,625.70.
- GST Network will borrow Rs 800 crore to fund infrastructure costs: The private limited company’s chairperson Navin Kumar said Rs 550 crore would be borrowed as a five-year term loan and Rs 250 crore as a working capital loan.
- Brickwork Ratings downgrades Tata Steel citing Cyrus Mistry ouster: The ratings agency cited ‘heightened management risk’ following the former chairman’s ouster as the reason for its revision.
- NITI Aayog index declares Maharashtra the most farmer-friendly state in the country: ‘The state has implemented most of the marketing reforms and it offers best environment for doing agribusiness among all the states and UTs,’ the council said.
- ONGC Videsh Limited completes acquisition of additional 11% stake in Russia’s Vankor oilfield: The state-owned enterprise, which paid $390 million, now owns 26% of the East Siberian plot.