The business wrap: Factory output growth back at pre-demonetisation level, and 6 other top stories
Other headlines: Japanese company Nissan Motor sued India for Rs 5,000 crore over unpaid incentives, and the Centre credited its reforms for growth recovery.
A look at the headlines in the sector right now:
- Rise in India’s manufacturing output for November was highest in 13 months, shows data: Creation of jobs in the manufacturing sector was fastest since September 2012, the monthly survey by IHS Markit showed.
- Japanese automaker Nissan Motor sues India for Rs 5,000 crore over unpaid incentives: The company sought its dues from the Tamil Nadu government as part of a 2008 agreement to set up a car manufacturing unit in the state.
- Finance Minister Arun Jaitley credits government’s reforms for rise in GDP growth rate: The growth of the manufacturing sector was the most significant aspect of ‘this quarter’s positive result’, he added.
- Sensex, Nifty remain volatile during morning trade despite positive second-quarter GDP data: The poor performance of metal, telecom and pharmaceutical stocks pulled the indices down.
- Super intelligence can be for India what manufacturing was for China, says Mukesh Ambani: The Reliance Industries chairperson said those who do not adopt technology will become irrelevant.
- Enforcement Directorate raids seven places in NCR in Sterling Biotech money laundering case: The Gujarat firm and its associates are accused of cheating public sector banks to the tune of Rs 5,383 crore.
- Zomato withdraws outdoor advertisement after social media users criticise it as offensive and sexist: The company’s co-founder apologised and said the firm had not intended to offend anyone.