A look at the headlines in the sector:
- Sensex and Nifty close at record highs after positive wholesale inflation data: The biggest gainers on the Sensex were Bharti Airtel, Tata Motors DVR, Mahindra & Mahindra, Tata Motors and Hindustan Unilever.
- India’s wholesale inflation fell to 2.60% in September: A lower increase in the wholesale prices of food compared to those in August led to the decline.
- Government may lower GST slab for air-conditioned restaurants from 18% to 12%: The final decision is likely to be taken at the GST Council meeting in Guwahati on November 9.
- Netflix announces its first Indian kids’ original, ‘Mighty Little Bheem’: The entertainment company earlier announced three original shows set in India including ‘Sacred Games’ based on Vikram Chandra’s crime novel of the same name.
- RBI refuses to disclose why new banknotes advertise Swachh Bharat mission: The central bank cited a section of the RTI Act that allows for secrecy if some information could pose a threat to national security or foreign relations.
- Recent reforms will revive jobs, Indian economy on ‘very solid track’, says IMF Chief: Meanwhile, Niti Aayog’s Rajiv Kumar said the economy will grow 6.9%-7% this fiscal year.
- Facing backlash, OnePlus says it will ask users for consent to collect data from phones: The Chinese company was criticised after a researcher pointed out that it collects user information without permission.