A look at the headlines in the sector:
- Cyrus Mistry moves National Company Law Appellate Tribunal against Tata Sons’ meeting on February 6: The shareholders will be meeting to remove Mistry from the company board.
- India signs $201.50-million financing agreement with World Bank to improve technical education: The money will mainly be used to upgrade engineering institutes in the country.
- Sensex ends 85 points higher, Nifty by 18 as markets make marginal gains one day after Budget: Oil and gas companies were among the top gainers as investor sentiment remained cautious ahead of the Reserve Bank of India’s February 8 policy statement.
- HSBC report says India’s GDP to grow by 7.1% in 2017-2018: The institution’s Chief India Economist Pranjul Bhandari said the growth would largely be driven by the remonetisation process.
- Facebook-owned Oculus loses virtual reality case to ZeniMax, to pay $500 million in damages: The video game developer had accused the firm of copyright infringement for using its computer code to create a VR headset.
- Bajaj Auto reports 18% decline in sales during January: The company said it sold 241,297 units in the month as compared to 293,939 vehicles during the same period in 2016.
- Instagram likely to start letting you share entire albums in a single post: The carousel feature, which was enabled for advertisers in 2015, is currently available only in the beta version.