A look at the headlines in the sector:

  1. Indian markets close at all-time high after country improves its rank in ease of doing business: Reports that eight core sectors grew to a six-month high of 5.2% may have also boosted trade on the indices.
  2. Tata Sons pays $1.27-billion penalty to NTT DoCoMo, settles three-year-long dispute: The row began when DoCoMo decided to exit a joint venture in 2014.
  3. Fiscal deficit narrows to 91.3% of government’s target for current financial year: The situation, however, has marginally improved since August, when the deficit reached 96.2% of the target, data by Controller General of Accounts showed. 
  4. SBI reduces lending rates by 5 basis points across maturities: The one-year lending rate will now be 7.95% instead of 8%. 
  5. Eight core industrial sectors grew 5.2% in September – the highest in six months: The coal, refinery products and natural gas sectors led the way while the fertiliser sector was the only one to show a decline.   
  6. Reliance Communications completes merger with Russian conglomerate Sistema: Shares of the Indian telecommunications major closed at a flat rate of Rs 17.15 on Tuesday.   
  7. Bharti Airtel’s net profit declines 76.5% in July-September quarter: The company’s total revenue fell to Rs 21,777 crore, a decline of 11.7% compared to its second-quarter report in 2016.