A look at the headlines in the sector right now:
- 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.
- 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.
- Customs authority asks companies, restaurants to reduce prices after cut in GST rates: The letter comes amid reports that restaurants are overcharging the customers.
- 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.
- 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.
- 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’.
- 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.