A look at the headlines in the sector right now:

  1. Sensex and Nifty close high as Asian stocks rally: Dr Reddy’s, Sun Pharma and Bharti Airtel were among the top gainers on both indices.  
  2. Uber to buy up to 24,000 self-driving cars from Volvo in non-exclusive deal: Uber’s Advanced Technologies group is building the autonomous system to be used in the vehicles.
  3. Customs authority asks companies, restaurants to reduce prices after cut in GST rates: The letter comes amid reports that restaurants are overcharging the customers.  
  4. Isro turns to private sector for help as it targets 60 satellite launches in next five years: The space agency floated a tender inviting private companies to assist them in building more than 30 satellites.  
  5. US Federal Reserve Chairperson Janet Yellen to resign from board after successor takes over: Though Yellen’s four-year term as the chairperson expires in February 2018, her term as member of its Board of Governors ends only in January 2024.  
  6. US Justice Department sues telecom giant AT&T for Time Warner deal: AT&T CEO Randall Stephenson said the federal government’s action ‘defies logic and is unprecedented’.  
  7. Maria Sharapova under investigation for endorsing fraudulent Gurgaon real-estate project: Homestead Infrastructure Development, the firm behind the project, is alleged to have taken millions of dollars from homebuyers before it folded.