A look at the headlines in the sector right now:
- Low GDP growth is a matter of concern, says Finance Minister Arun Jaitley: He blamed the gap between the improvement in services and decline in manufacturing on the impact of the Goods and Services Tax.
- Adani Group ties up with Swedish defence company Saab to build fighter jets in India, says report: The deal to supply single-engine jets to the Indian military under the ‘Make in India’ banner was announced on Friday.
- Economist Rajiv Kumar takes over as Niti Aayog vice chairman: He was earlier a senior fellow at the Centre for Policy Research in New Delhi.
- Apple sends out invite for September 12 event at Steve Jobs Theater, likely to launch iPhone 8: The iPhone 8 and new versions of iPhone 7 will not feature the Touch ID fingerprint scanner, but instead use 3D sensors to enable facial recognition.
- Sensex ends at a three-week high, Nifty nears 10,000 again after a volatile week: Analysts believe that investors are hopeful of a rate cut by the RBI, given the low GDP growth in the first quarter.
- Facebook launches Watch video service for US users as it competes with YouTube for ad revenue: The new feature will curate TV shows and sports events and also have content specifically created for the social media network initially.
- Maruti Suzuki India reports 26% growth in domestic passenger vehicle sales in August: The rise was attributed to the festival season buying spree.