A look at the headlines in the sector:
- Unitech’s shares surge nearly 20% after court allows Centre to take over company’s management: The Supreme Court is expected to hear the realty firm’s appeal against the National Company Law Tribunal’s order.
- Sensex ends 205 points up, Nifty above 10,300 after strong buying by domestic investors: Mahindra & Mahindra, TCS and Wipro were among the top gainers on both indices.
- Amazon India claims its gross sales rose much faster than Flipkart’s – at 66% – in April-September: Neither company has disclosed the exact figures, though Flipkart said it grew ‘at least 80%’ in the first half of 2017-’18.
- Bitcoin debuts on the futures market, hits a high of $18,700: This is the first time professional investors got an opportunity to invest in the cryptocurrency.
- Centre may allow foreign carriers to bid for stake in Air India, say reports: The chief executive officer of the International Air Transport Association agreed with the move, but added that the government must sell it entire stake.
- State Bank of India changes IFSCs of 1,300 branches after merger with associate banks: Customers will be informed of the change in code of their branches, the bank said.
- Chandigarh airport to remain closed from February 12 to 26 for work on runway: The length of the runway will be increased from 9,000 feet to 10,200 feet to allow wide-bodied aircraft to operate out of the airport.