A look at the headlines in the sector right now:

  1. Sensex, Nifty 50 begin the week on a strong note, end at record closing high: Tata Motors DVR, Lupin, Bharti Infratel and Yes Bank gained the most on both indices.   
  2. Government amends PPF rules, accounts will be closed down if holders become NRIs: A notification on National Savings Certificates said they will be encashed in case of a similar change in the person’s status.   
  3. Supreme Court asks Unitech to deposit Rs 750 crore to enable refund to home buyers: The bench said the company needs around Rs 2,000 crore to refund or allot flats to all the home buyers.   
  4. Ministers’ panel proposes lower GST for small businesses under composition scheme: It suggested a tax rate of 1% for manufacturers and restaurants with annual turnover of Rs 1 crore or less, as against the 2% and 5% they now pay.   
  5. India’s jobless growth is for real, says rating agency Care: Such a scenario calls for ‘proactive measures’ from government and the recent infrastructure building efforts will help, it said.
  6. Jet Airways sends back home 30 foreign pilots: The airline plans not to renew the service contracts of some more expat pilots.   
  7. GDP growth likely to recover to 6% in second quarter, says SBI Research: However, the growth rate in the agricultural sector is a problem, the agency said.