A look at the headlines in the sector right now:
- Mukesh Ambani launches ‘effectively free’ JioPhone, but with a refundable Rs 1,500 deposit: Users of the Reliance device will get unlimited data, free voice calls and text messages at Rs 153 per month.
- Sensex ends 124 points higher, Nifty closes crosses 9,900-mark: The gains were led by Wipro which had announced its plan to buyback shares worth Rs 11,00 crore.
- MakeMyTrip gets tax demand notice of Rs 91 crore: The travel portal’s annual report for FY17 showed that the notice was served in December 2016.
- Jet Airways asks junior pilots to go on 10 days unpaid leave a month or quit, to cut costs: The airline told its employees that it had to revisit its manpower requirements to improve cost efficiency.
- Indian passengers can soon browse internet on board aircraft: BSNL chairman Anupam Shrivastava said the facility will be made available in about a year’s time.
- ICICI Bank customers can get personal loans worth Rs 15 lakh at ATMs instantly: The private lender will pre-qualify those eligible for the service through data from credit information companies.
- Reliance Industries to buy 24.9% stake in Balaji Telefilms for Rs 413 crore: This will give Mukesh Ambani’s company access to content generated by the Jeetendra-run production house for its Jio customers.