A look at the headlines in the sector right now:
- Ramdev’s Patanjali will launch its own line of clothing by April 2018: Spokesperson SK Tijarawala said they will begin with woven clothes, knitwear and machine-made apparel, including denims.
- Markets extend losses a day after RBI cut its key rates: Banking stocks performed poorly on both indices.
- At least 27 lakh businesses have not yet registered on the GST website: This means they may not be able to file their tax returns.
- Cabinet committee approves three-step strategy for Air India’s divestment: A panel comprising a group of ministers will oversee the process.
- Indian Oil’s Q1 profit falls 45% to Rs 4,549 crore, but beats analysts’ estimates: The company’s shares were up 4.92% to Rs 388.30.
- Railways introduces new facility for tatkal tickets: Under this scheme, a customer has the option to pay after 15 days of booking an e-ticket through the IRCTC website.
- Rupee has outperformed all major currencies in 2017, says Standard Chartered Chairperson Ananth Narayan: He said a weak dollar had an impact on the currency.