The business wrap: Markets end higher as FMCG stocks soar, and six other top stories
Other headlines: HC Gupta gets two years’ jail term in coal scam, and Cathay Pacific announced its biggest round of job cuts in nearly 20 years.
A look at the headlines in this sector:
- Sensex, Nifty up after GST tax rates are announced: ITC hit a new high of Rs 303 and led on both the bourses.
- Former Coal Secretary HC Gupta and two others sentenced to two years in prison in coal scam: Managing director of Kamal Sponge Steel and Power Ltd PK Ahluwalia will have to serve a three-year jail term in the same case.
- Hong Kong’s Cathay Pacific to lay off 600 employees: The company has suffered massive losses, which it blamed on increased competition from budget carriers and Chinese airlines.
- Elon Musk dashes hopes for summer launch of Tesla India: The Silicon Valley chief executive officer, on Twitter said, the supply of locally sourced parts was not ready yet.
- Delhi High Court seeks Marans’ response on CBI’s plea against their discharge in Aircel-Maxis case: The Enforcement Directorate had also challenged the special court’s February 2 verdict discharging them from the case.
- Railways’ premier train Tejas Express takes its first trip between Mumbai and Goa: The luxury train comes with many facilities including on board Wi-Fi and LCD screens on every seat.
- Nasa scientists name bacterium found on International Space Station after Abdul Kalam: Solibacillus kalamii has not been completely characterised yet, but scientists hope it will be helpful in biotechnology applications.