A look at the headlines in the sector right now:

  1. Arvind Panagariya resigns as the vice chairman of Niti Aayog: The economist said he will return to academics in the United States.
  2. Lowest Purchasing Managers’ Index in eight years indicates GST hit the manufacturing sector hard: The industry has not seen a dip this steep since the 2008 global financial crisis.
  3. Reliance Industries Chairman Mukesh Ambani is now the second richest man in Asia: Ambani is richer by $12.1 billion this year, according to the Bloomberg Billionaires Index.
  4. Sensex, Nifty close at an all-time high: The Sensex closed up 60.23 points at 32,575.17, while the Nifty ended higher by 37.55 points at 10,114.65.
  5. Flipkart completes merger with eBay India: The Indian e-commerce major will now own and operate eBay.in, which will remain an independent entity.
  6. Staff strength at Infosys, TCS and Tech Mahindra declines for the first time: The combined workforce at the three companies dropped by nearly 5,000 in the first quarter of 2017-18.
  7. Government stops $1.3 billion Chinese bid for Gland Pharma: Officials said there were “genuine concerns” over proprietary technology developed by an Indian company going over to a Chinese pharma major.