A look at the headlines in the sector right now:

  1. 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. 
  2. Sensex falls 148 points, Nifty 36 as rupee hits three-week low, geopolitical tensions continue: Most other Asian markets also declined sharply.   
  3. 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.   
  4. 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.   
  5. 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. 
  6. 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.
  7. 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.