A look at the headlines in this sector right now:

  1. Supreme Court holds Vijay Mallya guilty of contempt, asks him to be present before it on July 10: A consortium of banks had accused the businessman of transferring USD 40 million to his children in violation of a court order.
  2. Demonetisation alone will not stop the flow of black money, says UN report: The United Nations has suggested the government use supplementary measures to target undeclared wealth and assets.
  3. India’s growth to touch 7.2% in 2017-18, predicts International Monetary Fund: Cash shortages caused by demonetisation are likely to ease in 2017, the organisation added.
  4. IT professionals file petition with Tamil Nadu government against layoffs in Cognizant: The software company, in its defence, said the employees were asked to quit because they performed poorly.    
  5. Maruti Suzuki partially replaces manpower with robots at its Manesar and Gurugram plants: The robots are working in the automated weld, paint and press shops whereas manual work is limited to the car assembly.  
  6. The Netherlands’ massive new offshore wind farm promises green energy to 1.5 million people: With 150 turbines located north of Ameland in the North Sea, the Gemini windpark will supply at least 7,85,000 Dutch households.
  7. Adi Godrej’s daughter to head Godrej Consumer Products: Nisaba will assume the new role of executive chairperson on Wednesday.