A look at the headlines in the sector right now:
- India rises to second place in global business optimism index: The Grant Thornton International Business Report for the July-September quarter has attributed the rise to the GST regime and other policy reforms.
- Godrej Consumer Products records near 44% rise in Q2 profits: The company’s total income rose by 11% to Rs 2,439.35 crore from Rs 2,197.28 crore during the corresponding period last year.
- Sensex ends 185 points up, Nifty closes 63 points higher after four days of losses: The rise in markets came on the back of the FBI clearing presidential candidate Hillary Clinton for using a private email server during her term as US secretary of state.
- Reliance LYF smartphone explodes, company promises thorough investigation: Former J&K Chief Minister Omar Abdullah said he will not use his handset anytime soon after his aide’s family had a ‘narrow escape’.
- Hiring by Indian IT companies in September quarter fell by 43%, says report: Kotak Institutional Equities said the decline was ‘consistent with slowdown in growth rates’ and the sector’s efforts to increase productivity.
- Niti Aayog CEO accuses western economies of ‘protectionist’ policies while promoting free trade: Amitabh Kant’s remarks at an India-UK summit came days after the British government announced new visa rules for immigrant workers.
- Assocham survey says smog levels across NCR affecting employee productivity: The one-week study also found that companies were facing staff shortages of up to 10% because of several workers calling in sick.