A look at the headlines in the sector right now:

  1. Russia’s Rosneft buys Essar Oil assets for Rs 78,000 crore: A consortium comprising trading firm Trafigura and financial investor UCP have acquired a separate 49.13% in the company.  
  2. McDonald’s ends agreement with franchisee, 169 outlets in North and East India likely to be shut: The move could result in the loss of jobs for thousands of its employees, and hamper contracts of its suppliers.  
  3. Sensex closes 265 points down, Nifty 83 points in red after opening higher: Infosys continued its poor run on the stock market despite a recent buyback offer, finishing as the top loser on both indices on Monday.
  4. Sebi checks if brokers, clients are ready to submit Aadhaar details by December: Currently, the permanent account number is the only document needed to trade.  
  5. Most wilful defaulters indebted to SBI, Punjab National Bank, owed them 40% of bad loans in 2016-17: They owe lenders Rs 37,382 crore of the Rs 92,376 crore NPAs, as of March 2017.
  6. Artificial intelligence experts are urging the UN to prevent the development of ‘killer robots’: More than 100 experts have called for a ban on use of artificial intelligence in weaponry. 
  7. Uber India hires Vishpala Reddy as its chief people’s officer: The company operates in 29 cities.