A look at the headlines in the sector:
- The next generation will look at demonetisation with great pride, says Arun Jaitley: Meanwhile, former Prime Minister Manmohan Singh said demonetisation and GST were ‘twin blows’ for India’s economy and small businesses.
- Overnight surge in global oil prices sends Sensex and Nifty nosediving: The BSE index fell 360 points, and the NSE index ended 101 points lower.
- Samsung to pay Apple $120 million after US Supreme Court rejects its appeal in a patents case: Apple had accused Samsung of infringing its patents on popular features such as slide-to-unlock, autocorrect and quick links.
- Paradise Papers smash secrecy around tax havens, says Arun Jaitley: The finance minister’s comments come a day after the Congress criticised the Centre for not doing enough to bring back black money stashed abroad.
- Lupin shares end 17% lower as US drug regulator issues warning letters for two manufacturing units: The company said its plants in Goa and Indore had been warned for violating goods manufacturing practices.
- HDFC Bank makes online NEFT and RTGS transactions free of cost effective November 1: In an effort to promote digital economy, the lender will continue to charge a fee for these transactions if they are carried out at branches.
- 21st Century Fox’s shares surge after reports say that it held merger talks with Disney: If the deal goes through, the media giant will reportedly sell its movie studio, television production unit and networks to its rival company.
- Revenue Secretary Hasmukh Adhia now appointed finance secretary: The Finance Ministry position fell vacant after Ashok Lavasa’s tenure ended on October 31.
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