The business wrap: Cabinet agrees to increase cess on luxury cars, and six other top stories
Other headlines: Indian markets regained their losses, and Uber confirmed the appointment of Dara Khosrowshahi as its new chief executive officer.
A look at the headlines in the sector right now:s
- Union Cabinet approves Ordinance making luxury cars, SUVs more expensive: Finance Minister Arun Jaitley had said the GST collection for July was Rs 92,283 crore, which exceeded its Rs 91,000 crore target.
- Indian markets bounce back – Sensex rises 258 points, Nifty regains 9,800 level: While all the sectoral indices were in the green, stocks of Mahindra and Mahindra, and Cipla performed poorly.
- Uber confirms Dara Khosrowshahi is its new chief executive officer: The former Expedia Inc’s official will meet the ride-hailing firm’s staff for the first time on Wednesday.
- RBI sends second list of defaulters to banks for debt recovery, insolvency proceedings, says report: Companies in the power, telecommunications, steel and infrastructure sectors are said to be included in the list.
- Wipro gets shareholders’ approval to buy back shares worth Rs 11,000 crore: Over 99% voted in favour of the proposal, which was first pitched in July.
- Aviation company Bird Group wants to buy Air India’s ground services subsidiary: Finance Minister Arun Jaitley said they will decide on the airline’s divestment soon.
- Madras HC asks Tamil Nadu and cinema halls why ticket prices for Ajith-starrer were hiked: Justice M Duraiswamy asked the government to file a counter affidavit on the matter within two weeks.