A look at the headlines in the sector:

  1. Sensex, Nifty close at record highs for fourth day in a row: The 30-share Sensex was up 50.12 points and closed at 31,159.40, while Nifty was up 19.65 points at 9,624.55.
  2. Demonetisation may have had a disproportionate impact on poor households, says World Bank: The international organisation also said India must increase women’s participation in the job market.
  3. Swiggy raises $80 million in funding round led by South African media company Naspers: The company plans to use the money to hire engineering talent and upgrade its technology, including automation, data sciences, machine learning and personalisation.
  4. Judy malware infects more than 36.5 million Android users: It has been found in over 41 apps developed by a Korean company called Estudio.
  5. Don’t need employees’ union in IT industry as engineers are ‘well-paid’, says Ex-Infosys CFO Balakrishnan: He claimed reports of layoffs in the sector were ‘exaggerated’.
  6. CBI says Air India is involved in multiple scams: Civil Aviation Minister Ashok Gajapathi Raju said that his department will fully cooperate with the CBI officials in the investigation.
  7. Reliance Jio aims to launch home broadband services by Diwali: The company is likely to offer 100 GB data for Rs 500.