A look at the headlines in the sector:

  1. Retail inflation remained steady at 3.28% in September: The rise in food prices has slowed down, according to data released by the Central Statistics Office.
  2. Bharti Airtel to acquire mobile operations of Tata Teleservices: As part of the deal, the telecom operator will absorb around 4 crore customers of the Tata group’s mobile business.
  3. Sensex surges 348 points, Nifty closes above 10,000 on strong Asian, US markets: Shares of Tata Consultancy Services rose on both indices on expectations of a rise in its July-September earnings.
  4. Petrol pump dealers call off October 13 nationwide strike: Dealers’ associations were demanding better margins and protesting against recent changes in the guidelines governing petrol pumps.
  5. Centre says it collected 15.8% more direct tax in April-September than corresponding period in 2016: The Finance Ministry said advance tax collection for the same months was Rs 1.77 lakh crore.
  6. Meru Cabs says Ola and Uber are using foreign funds to distort the market: Meru filed complaints with the Competition Commission of India, accusing the two rival firms of abusing their dominance by using vast sums of investor funds.
  7. Cabinet approves revised salaries for university, college teachers under 7th Pay Commission: Around 7.58 lakh academic staff will benefit from this revision.
  8. Monsanto settles GM cotton dispute with three Indian seed firms, says report: Ajeet Seeds, Kaveri Seed Co Ltd and Ankur Seeds were among six Indian companies that delayed payments to Monsanto, demanding royalties be cut.