A look at the headlines in the sector right now:

  1. Sensex sheds 363 points on heavy selling, Nifty closes 88 points down at 9,827: ITC stocks declined by more than 12% on both indices after the GST Council increased the cess on cigarettes.  
  2. Indian banks will need Rs 18,000 crore for bad loans of 12 companies: Banks must keep aside funds that amount to at least 50% of the bad loans of each company.  
  3. Giving more time to deposit old notes will defeat the purpose of demonetisation, Centre tells SC: The government said opening a new window would give black money hoarders ‘sufficient time’ to come up with an excuse for not having submitted the bills.
  4. Delhi and central governments get notices after petition seeks lower or no GST on sanitary napkins: The High Court has asked for a report on the schemes, if any, that have already been implemented to educate young girls about menstruation.  
  5. CBI court says 21 accounts held by Vijay Mallya, associates to be attached in IDBI loan default case: The CBI believes that the bank’s officials committed many mistakes while sanctioning and disbursing the loan of Rs 1,300 crore to Mallya’s Kingfisher Airlines.  
  6. Netflix stocks jump over 10% as company reports surge in subscribers in second quarter: This is the first time Netflix has recorded more subscription outside the US – more than 4 million customers are international viewers. 
  7. Air India to offer buyouts to over a third of its 40,000 employees: The state-owned airline had also put fleet expansion on hold, an official said.