A look at the headlines in the sector right now:
- 6% GDP is disappointing, says noted economist Paul Krugman as he blames demonetisation and RBI policies: The Nobel laureate said the central bank should loosen its regulations to tackle India’s inflation trends.
- Sensex surges nearly 124 points to close at record high, Nifty rises 37 points: The surge was because of a recovery of the stock of state-owned lenders like State Bank of India.
- Amazon invests Rs 1,680 crore more in India to bolster operations against local rival Flipkart: The global e-commerce portal said it will continue to expand its ecosystem in India.
- SC warns Subrata Roy against ‘dishonouring’ deadline for Rs 552.21 crore deposit: The company has paid Rs 1,500 crore so far and has to pay Rs 9,000 crore more, the apex court said.
- Nokia and Xiaomi sign multi-year patent sharing deal: They aim to explore augmented and virtual reality, artificial intelligence and the Internet of Things.
- Flipkart in talks with Snapdeal as differences arise over reduced $850-million takeover offer: A deal is still possible, but differences over valuation could delay the process.
- Former Tata Finance MD Dilip Pendse commits suicide in Mumbai office: Police discovered a note in which Pendse claimed that ‘personal reasons’ were responsible for his decision to end his life.