A look at the headlines in the sector right now:

  1. Markets close at record high, Nifty falls short of 10,000-mark: Analysts attributed strong global market and influx of foreign investment as the key reasons behind the spurt.
  2. RBI to hire 12 verification machines to weed out the fake ones from deposited demonetised notes: They will be leased for six months to process all the bills received at the central bank’s regional offices.
  3. After Tesla, Mercedes Benz requests incentives on electric car imports: The company wants to capitalise on the Centre’s plan to replace nearly half of India’s motor vehicles with electric ones by 2030.
  4. FDI grew by 23% at $10 billion during April-May: In 2016-17, the foreign fund inflows aggregated at $60.08 billion (Rs 3,86,734 cores), Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
  5. Arun Jaitley will head panel to oversee HPCL stake sale to ONGC: Post-merger all refining units of ONGC will be accumulated under HPCL, making it India’s third largest oil refiner after Indian Oil Corp (IOC) and Reliance Industries, Oil Minister Dharmendra Pradhan said.
  6. PE funds KKR, Warburg Pincus interested in acquiring Air India’s businesses: Airline saddled with Rs 50,000-cr debt and discussing with lenders ways of restructuring loans
  7. IMF downgrades UK growth forecast: Britain’s economy now looks set to grow by 1.7 percent this year, down from a forecast made in April of 2.0 percent but still higher than growth in France, Italy and Japan, the IMF said.