The business wrap: Morgan Stanley pegs India’s GDP growth at 6.7% this year, and 6 other top stories
Other headlines: Both the Sensex and the Nifty declined after the rupee hit a three-week low, and 169 McDonald’s outlets may be shut down from today.
A look at the headlines in the sector right now:
- Morgan Stanley says India’s GDP growth already recovering after demonetisation, GST: The financial services firm has forecast a 6.7% growth for the country this year.
- Sensex falls 148 points, Nifty 36 as rupee hits three-week low, geopolitical tensions continue: Most other Asian markets also declined sharply.
- 169 McDonald’s outlets in North and East India may be shut down from today: This is because of a protracted legal fight between the fast food chain and its estranged partner Vikram Bakshi.
- Infosys pushes announcing September quarter results to October 24: The information technology major said a meeting of the Board of Directors will be held on October 23 and October 24.
- Huawei beats Apple, is now second in global smartphone sales: The report comes just ahead of the expected launch of Apple’s new phone, the iPhone X, on September 12.
- Raghuram Rajan questions the government’s move to merge public sector banks: The former RBI governor said the fact that these banks were already weak made their consolidation even more difficult.
- Banks to restrict use of accounts of over two lakh firms ‘struck off’ from Register of Companies: These accounts will not be operational till the companies are deemed ‘active’ by a tribunal order, the Finance Ministry said.
