A look at the headlines in the sector right now:

  1. SoftBank to invest in Uber after the two strike a billion-dollar deal: The Japanese venture capitalist is also a major investor in Ola, the cab-hailing firm’s main competition in India.  
  2. Sensex, Nifty plunge amid investor concerns over government finances, retail inflation data: Tata Consultancy Services, Mahindra and Mahindra, and Sun Pharmaceuticals were the top gainers on both indices.
  3. Shares of Reliance Communications tumble after its poor quarterly performance: On Saturday, the telecom major posted a loss of Rs 2,709 crore in the quarter that ended in September.
  4. Centre flags off second phase of BharatNet project, to connect all villages to broadband by 2019: Telecom operators made their payments to buy bandwidth for the project, with Reliance Jio paying the most – Rs 13 crore.
  5. Vodafone India, Idea Cellular to sell mobile tower business to US firm for Rs 7,852 crore: If the towers are sold before the merger between Vodafone and Idea, the former will earn Rs 4,000 crore while the latter will get over Rs 3,850 crore.
  6. Bank of India helps out debt-laden Air India with Rs 1,500-crore loan: The national carrier floated a tender last month as it requires urgent working capital.  
  7. Value of bitcoin plunges after technology update gets cancelled: The digital currency declined almost 29% to $5,605 from its record high of $7,882 on November 8.