A look at the headlines in the sector right now:
- 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.
- 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.
- HCL stocks rise after it reports 7.64% increase in Q1 profit: Sensex and Nifty end on a flat note, HDFC biggest gainer.
- 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.
- 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.
- 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.
- 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.