A look at the headlines in the sector right now:

  1. ONGC asked to explain why it planned to hire oil rigs without issuing tenders: In 2015, the public sector company intended to hire nine rigs through nomination in order to save time.
  2. Axis Bank is all set to buy FreeCharge for Rs 400 crore: The private lender said acquiring the digital wallet will allow it access to customer transaction data, which will help it make better offers to users.   
  3. HCL stocks rise after it reports 7.64% increase in Q1 profit: Sensex and Nifty end on a flat note, HDFC biggest gainer. 
  4. Amazon says it has invested Rs 3,847 crore in India since January 2017: Half of the money will be used to set up warehouses and data centres. 
  5. WhatsApp says 100 crore people use its messaging services every day: The Facebook-owned company also announced an update to its status feature, which will now allow users to share photos and videos.   
  6. Facebook reports revenue of $9.32 billion, profit rises to $3.89 billion for second quarter: Their earnings from mobile ad sales rose to 87% of the total revenue for the second quarter.
  7. YouTube Red and Google Play Music will be merged to create a unified app, says official: Lyor Cohen said the decision to merge the two services was made to rope in new subscribers.