Indian services activity expanded for the first time in four months, returning to growth as firms say they are seeing customers return in the months after demonetization. Service providers across the country are reporting business growth for the first time since the start of November, and said they were able to raise prices to offset rising costs.

The revolving-door of senior executives out of Indian startups, and the slow down in funding are discouraging new hires from joining unicorn firms. The 2014 goldrush appears to have come to an end, when senior business leaders from larger companies, banks and consulting were joining India's high-profile unicorn startups. Now with salaries being pared and pink slips handed out, the space is looking a lot less attractive. 

Stock in spotlight: Alembic Pharmaceuticals, which has launched the generic equivalent of Pfizer's Pristiq, used to treat major depressive disorder. The market size for this drug in the US is estimated at $883 million. 

Photo of the day: Boys battle for the ball at soccer practice in Mumbai. Shailesh Andrade/Reuters