A look at the headlines in the sector right now:
- 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.
- 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.
- 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.
- 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.
- 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.
- Jet Airways sends back home 30 foreign pilots: The airline plans not to renew the service contracts of some more expat pilots.
- 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.