A look at the headlines in the sector:

  1. State-run banks need $65 billion additional capital to tackle NPAs, says Fitch Ratings: This additional money is required to raise loan growth and tackle weak provisionings for rising bad loans.
  2. Fuel rates rise in four metros, petrol price touches Rs 80 in Mumbai: Diesel rates also went up by 10-11 paise a litre.
  3. Sensex closes above 32,000 mark, Asian markets rally as Irma, North Korea tensions fade: Tata Steel, Tata Motors DVR, Sun Pharma, Tata Motors and Hindustan Unilever were the top five gainers at the BSE.  
  4. After earlier model’s battery fires, Samsung says Galaxy Note 8 pre-orders are the series’ highest: The company is banking on its newest device to secure its market dominance and compete with Apple. Its sale will begin on September 15.  
  5. Tata Sons will spend Rs 1,458.55 crore to increase stake in Tata Global and Tata Chemicals: This is likely to give Tata Sons better control over its companies.
  6. Force Motors, Rolls-Royce Power Systems tie up to produce engines for power generation and rail application: Under the joint venture, Force Motors will produce complete power generation systems, including associated spare parts for Indian and global markets, the company said.   
  7. Larsen & Toubro’s construction arm wins orders worth Rs 2,525 crore: After the announcement, the company’s shares rose 0.58% to Rs 1,223.95.