A look at the headlines in the sector right now:
- Demonetisation hit India’s poor very hard, says Raghuram Rajan: A skewed measurement of the GDP will overlook the impact of the drive on the poor, he added.
- Star India bags global IPL media rights for an astronomical Rs 16,347.50 crore: The deal is for the next five seasons, running till 2022.
- Sensex ends 190 points down, Nifty sheds 62 amid geopolitical tensions, weak Asian markets: Coal India and Sun Pharma were the top gainers on both indices.
- Supreme Court stays insolvency proceedings against Jaypee as flat buyers fear they will lose money: Homebuyers told the bench they will end up with nothing as the dues of financial institutions, who are secured creditors, will be cleared first.
- Infosys promoters offer to sell 1.77 crore shares worth Rs 2,083 crore in buyback: Co-founders Narayana Murthy and Nandan Nilekani and their families have offered to tender 112 lakh shares.
- The new Rs 200 notes may not be available at ATMs for another three months: Operators said they will begin to recalibrate the machines after banks send them the currency.
- Naveen Jindal, three others get bail in Madhya Pradesh coal scam case: They were charged with criminal conspiracy and cheating in the allocation of the Urtan North coal block.
- Indian-origin Vasant Narasimhan will replace Novartis CEO Joseph Jimenez in 2018: Narasimhan said he felt honoured and humbled to be asked to lead the pharmaceutical major.