A look at the headlines in the sector right now:s

  1. Union Cabinet approves Ordinance making luxury cars, SUVs more expensive: Finance Minister Arun Jaitley had said the GST collection for July was Rs 92,283 crore, which exceeded its Rs 91,000 crore target.
  2. Indian markets bounce back – Sensex rises 258 points, Nifty regains 9,800 level: While all the sectoral indices were in the green, stocks of Mahindra and Mahindra, and Cipla performed poorly.
  3. Uber confirms Dara Khosrowshahi is its new chief executive officer: The former Expedia Inc’s official will meet the ride-hailing firm’s staff for the first time on Wednesday.
  4. RBI sends second list of defaulters to banks for debt recovery, insolvency proceedings, says report: Companies in the power, telecommunications, steel and infrastructure sectors are said to be included in the list.  
  5. Wipro gets shareholders’ approval to buy back shares worth Rs 11,000 crore: Over 99% voted in favour of the proposal, which was first pitched in July.
  6. Aviation company Bird Group wants to buy Air India’s ground services subsidiary: Finance Minister Arun Jaitley said they will decide on the airline’s divestment soon.
  7. Madras HC asks Tamil Nadu and cinema halls why ticket prices for Ajith-starrer were hiked: Justice M Duraiswamy asked the government to file a counter affidavit on the matter within two weeks.