A look at the headlines in the sector right now:
- Stock of pre-GST goods can be sold with stickers bearing new MRP till September 30: The Centre has asked manufacturers and packers to publish at least two newspaper advertisements on unsold products that now cost more.
- Cyrus Mistry, four others face Rs 500-crore defamation complaint filed by managing trustee: The complainant claimed that the ousted chairman’s email after his dismissal alleging fraud had ‘damaged his reputation’.
- India and Israel to focus on defence deals and tackling terrorism on Day 2 of Narendra Modi’s visit: The Barak-8 air defence system, which the countries built together, is expected to feature in the pacts the prime ministers will ink.
- Rajinikanth asks Tamil Nadu government to roll back additional tax on theatre owners: The film industry is losing Rs 4 crore a day because of the ongoing strike against the new GST regime, market experts said.
- Anil Ambani’s Reliance Communications suggests brother Mukesh’s Jio has affected telecom industry: The company pointed at a new entrant’s ‘strategy of freebies to gain customers’ to explain the sector’s current financial problems.
- Essar Steel moves Gujarat High Court after RBI begins bankruptcy proceedings against it: The company said the apex bank had ‘arbitrarily’ selected the 12 stressed accounts.
- Volvo to launch only electric or hybrid cars from 2019, is the first major automaker to go green: The company, owned by Zhejiang Geely Holding Group, will compete with Elon Musk’s Tesla Motors and Mercedes’ AMG Division.