The issue for IRCTC was open for subscription between 30 September and 4 October.
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French oil company Total buys stake at Adani Gas. Photo: Reuters (REUTERS)
French oil company Total buys stake at Adani Gas. Photo: Reuters (REUTERS)

Total buys 37.4% stake in Adani Gas for 5,662 crore

  • Adani family and TOTAL SA shareholders will ultimately hold 37.4% each and public shareholders the remaining 25.2%
  • As part of the existing Joint Venture, Adani and Total in the coming years will also target to build a fuel retail network of 1,500 retail stations

Graphic: Naveen Kumar Saini/Mint

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Operationally, Infosys Q2 result was marginally above estimate: Motilal Oswal
Gainers & Losers
Finance Minister Nirmala Sitharaman (Photo: ANI)
MOST ACTIVE BY VOLUME
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The move implies that the government does not want lenders to take an unrelenting position on debt recovery by invoking the IBC

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Mark to Market
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52 WEEK HIGH/LOW
Rupee opened at 72.01 a dollar. (Rupee opened at 72.01 a dollar.)
Rupee opened at 72.01 a dollar. (Rupee opened at 72.01 a dollar.)

There is reason now for banks to cut interest rates

One reason that banks haven’t been able to cut interest rates in line with repo rate cuts is the high credit-deposit ratio (CDR). Interestingly, this ratio as of September-end has fallen to its lowest level in 2019. Mint probes if this will prompt banks to cut their interest rates.

P.S. Jayakumar, MD and CEO of Bank of Baroda (Photo: Mint)
Mittal (left) and Ambani (right) have managed to draw crowds at the first two editions of the expo in 2017 and 2018 where they shared stage and addressed each other as ‘dear friends’.
Mittal (left) and Ambani (right) have managed to draw crowds at the first two editions of the expo in 2017 and 2018 where they shared stage and addressed each other as ‘dear friends’.

Mukesh Ambani, Sunil Mittal to skip India’s largest mobile expo amid IUC battle

  • Mittal and Ambani are expected to give the expo a miss at a time when their telecom companies engage in a fresh battle over interconnect usage charges
  • Ambani’s Reliance Jio and Mittal’s Bharti Airtel last week again locked horns over the interconnect usage charge

Hindustan Aeronautics Ltd (HAL) is bracing for an indefinite strike from today. (Reuters)
Hindustan Aeronautics Ltd (HAL) is bracing for an indefinite strike from today. (Reuters)

HAL employees on indefinite strike over wage revision

  • HAL has about 20,000 employees in 5 production complexes in Bengaluru, Hyderabad, Koraput, Lucknow and Nashik
  • The management also offered to revised rate of fitment benefit at 11%

Infosys CEO Salil Parekh (C), COO Pravin Rao (L) and CFO Nilanjan Roy (R) pose for a photograph during a press conference to announce the second quarter financial results of the company at its headquarters in Bengaluru (Photo: PTI)
Infosys CEO Salil Parekh (C), COO Pravin Rao (L) and CFO Nilanjan Roy (R) pose for a photograph during a press conference to announce the second quarter financial results of the company at its headquarters in Bengaluru (Photo: PTI)

Infosys fares better than TCS, but IT sector is unmistakably slowing down

  • Infosys’s forecast for the current year suggests a sharp drop in growth rates in the second half of the fiscal
  • Shares of Infosys have outperformed those of TCS by about 22% in the past three months

The Indian economy expanded at just 5% in the three months ended June (Photo: Bloomberg)
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China's Vice Premier Liu He looks on during a meeting with U.S. President Donald Trump in the Oval Office of the White House in Washington, US (Photo: Reuters)
China's Vice Premier Liu He looks on during a meeting with U.S. President Donald Trump in the Oval Office of the White House in Washington, US (Photo: Reuters)

China’s partial win in trade war  with  US

  • The US has agreed to suspend its next tariff hike on Chinese imports after two days of trade talks in Washington
  • However, US is not prepared to accept China’s demand for a complete phase-out of all additional tariffs that the US had imposed until now, say analysts

The panel will give its report in 15 days to the GST Council (Photo: PTI)
The panel will give its report in 15 days to the GST Council (Photo: PTI)

Govt set to crack down on GST defaulters

  • Panel will discuss ways to check abuse of the lenient approach taken by the government so far
  • In September, Centre and states collected 91,916 crore in GST, a decline of 2.67% from what was collected in the same month a year ago

Joaquin Phoenix in Joker
Joaquin Phoenix in Joker

Opinion | What Joker should learn from real-life supervillains

Film critics appear to have done Joker a big favour by mistaking its farce for anthropology

Long Reads
Trade ministers of RCEP grouping at the recently held ministerial meet in Bangkok. Twitter@piyushgoyal
CarDekho co-founders Anurag Jain (left) and Amit Jain. The online car marketplace has raised about $185 million so far.
CarDekho co-founders Anurag Jain (left) and Amit Jain. The online car marketplace has raised about $185 million so far.

China’s Autohome looks to back CarDekho at $700 mn valuation

  • Existing investor Sequoia Capital may join the latest funding round amid growing demand for used cars
  • CarDekho has seen strategic investor interest despite a slowdown in automobile sales

Plain Facts
While Valentino Rossi has won on 23 circuits in 19 seasons, Marquez has already won on 20 circuits in just 7 seasons (Photo: Reuters)

The Midas touch of Marc Marquez

4 min read . 10 Oct 2019
In fiscal year 2018, new jobs for both blue- and white-collar workers rose to their highest levels in half a decade (Photo: Bloomberg)

Factory jobs have seen a revival

4 min read . 10 Oct 2019
Photo: Bloomberg
Photo: Bloomberg

Opinion | For lithium ion batteries to pave the way for a rechargeable India

While China has an advantage in lithium battery production, India could turn competitive with a couple of components

Hari Menon, co-founder of BigBasket, tested and proved his theory that the biggest factor in grocery is delivering everything on the customer’s list.raj sam/mint
Hari Menon, co-founder of BigBasket, tested and proved his theory that the biggest factor in grocery is delivering everything on the customer’s list.raj sam/mint

The hard thing about selling groceries online

  • How BigBasket’s Hari Menon resisted the pressure to pivot, stuck to an inventory-led grocery model, and was vindicated
  • If a customer can’t fill a basket with everything he needs, he will go to another store, online or offline, and buy everything there

Swedish climate activist Greta Thunberg. (AP)
Swedish climate activist Greta Thunberg. (AP)

Opinion | Greta-fication is not going to help us fight climate change

To stop global warming, we need reason and rationality, not panic, pedophrasty and poor science

More disclosures at the time of sale, and a review of incentives for intermediaries is the need of the hour (Photo: iStock)
More disclosures at the time of sale, and a review of incentives for intermediaries is the need of the hour (Photo: iStock)

The menace of mis-selling in insurance and how to curb it

  • The spat between ICICI Pru Life Insurance and its former employee reveals a larger industry problem
  • Front-end commission structure and high exit cost contribute to mis-selling in insurance

IRCTC shares more than doubled on market debut today
IRCTC is the fourth railway company to be listed on the bourses
Gold price today: On MCX, gold was trading at  ₹37,795 per 10 gram
Merely buying land will not fulfil the conditions as mentioned in Section 54 of the Act (Photo: iStock)
Merely buying land will not fulfil the conditions as mentioned in Section 54 of the Act (Photo: iStock)

Construct or buy a residential house to get LTCG exemption under Section 54

  • You would need to construct a residential house on the land within 3 years, after the date of transfer of the erstwhile residential property, for claiming the tax exemption under Section 54
  • As the monthly rental is equal to 50,000, the TDS deduction provisions are not currently applicable to you

In the year so far, the rupee has weakened 2%. (Photo: Bloomberg)
The Supreme Court resumes its proceedings for the 38th day on Monday (Mint file)
Graphic: Santosh Sharma/Mint
Photo: AP
With the economy slowing down, several companies may come up with VRS for their employees. (Photo: iStock)
With the economy slowing down, several companies may come up with VRS for their employees. (Photo: iStock)

Should you take that voluntary retirement offer?

  • Several companies have come up with VRS options for their employees and with the economy slowing down, more may come up with such schemes
  • Remember that VRS is not a lay-off, and you can choose to take it or leave it and continue in the job

India Mobile Congress. Photo: Twitter/@exploreIMC
Consumer firms in India have been reeling under weak market sentiment, aggravated by a slump in demand in rural areas, a liquidity crunch and irregular monsoons in vast swathes of the country.bloomberg
Consumer firms in India have been reeling under weak market sentiment, aggravated by a slump in demand in rural areas, a liquidity crunch and irregular monsoons in vast swathes of the country.bloomberg

Rural slowdown may weigh on HUL’s growth in second quarter

  • Weakness in sentiment, stress in agriculture segment have continued to affect rural demand, say analysts
  • HUL may witness tepid growth in sales volume in Q2 amid subdued demand in the rural markets

Graphic: Satish Kumar/Mint
Bhupinder Singh Hooda Photo:  (Photo: Ramesh Pathania/Mint)
Ashok Soota, executive chairman, Happiest Minds. (File photo: Mint)
Photo: iStock
Photo: iStock

Opinion | Venture capital firms now want to get ‘boring’

Venture capitalists are urging startups to be guided by more traditional metrics

Future Group chairman Kishore Biyani (Photo: Abhijit Bhatlekar/Mint)
Future Group chairman Kishore Biyani (Photo: Abhijit Bhatlekar/Mint)

Future’s Biyani moves to simplify group structure

  • Future Retail to buy Future Enterprises’ retail infra assets of up to 4,000 crore
  • For Future Retail, it would reduce rental costs. It is expecting an up to 650 crore reduction in annual lease rental

Chinese President Xi Jinping and Prime Minister Narendra Modi at Arjuna's Penance in Mamallapuram (Photo: AP)
Considering that it is the Union that makes important contributions to the health sector, including framing of policy, why should health lie in the state list?  (Reuters)
Considering that it is the Union that makes important contributions to the health sector, including framing of policy, why should health lie in the state list? (Reuters)

India’s federal edifice needs a nudge

  • As greater decentralization is the need of the hour, the Union, concurrent and the  state lists should be re-examined
  • Most people will agree India’s administrative and governance template needs greater decentralization, and that’s in line with what the current Union govt also wants

Former cricketer Sourav Ganguly (Photo: PTI)
Former cricketer Sourav Ganguly (Photo: PTI)

Sourav Ganguly likely to be new BCCI President; Brijesh Patel IPL Chairman

  • Union Home Minister Amit Shah's son Jay Shah will be the new secretary while Arun Dhumal will be the new treasurer
  • Monday is the last day to file nomination but no election will be held since all candidates have emerged unopposed after weeks of lobbying and hectic parleys

Photo: Mint
The creation of the National Urban Housing Fund is aimed at financing the government’s Housing for All programme. Photo: Indranil Bhoumik/Mint
The creation of the National Urban Housing Fund is aimed at financing the government’s Housing for All programme. Photo: Indranil Bhoumik/Mint

Realty bites: Indian property slump leaves beleaguered banks exposed

  • A slump in the residential property market is leaving many builders struggling to repay loans to shadow lenders
  • The fallout could spread to mainstream banks that have lent money to the shadow lenders or invested in their bonds

Most expensive neighbourhood to eat out is Chennai’s Guindy, with the average cost for two people at  ₹3,200  (Photo: iStockphoto)
Emma Greer, senior architect at Italy-based design firm Carlo Ratti Associati (Photo: Kumar/Mint)
ONGC plans to begin natural gas production from the deepwater block KG-DWN-98/2 in about two to three months. Reuters
Supermarkets and online grocers serve just 5% of the overall $367 billion grocery market in India against the Kirana stores’ market share of 95%, according to 2018 data from Euromonitor. Ramesh Pathania/Mint
Supermarkets and online grocers serve just 5% of the overall $367 billion grocery market in India against the Kirana stores’ market share of 95%, according to 2018 data from Euromonitor. Ramesh Pathania/Mint

Clash of business models as war for the grocery basket escalates

  • Alibaba-backed BigBasket and SoftBank-backed Grofers are the leading online grocers
  • New entrants Swiggy and Dunzo hope to leverage their capacity for quick delivery from offline stores

To promote gender diversity at the top of India Inc., the Companies Act had made it mandatory for publicly listed firms as well as those with a turnover of over  ₹300 crore to appoint at least one woman director.
To promote gender diversity at the top of India Inc., the Companies Act had made it mandatory for publicly listed firms as well as those with a turnover of over 300 crore to appoint at least one woman director.

Opinion | Gender diversity aids corporate governance

Compliance with rules is not the reason our businesses should have women in boardrooms. Firms with a better balanced gender ratio are better governed and deliver superior results

The lender's market value has surged by $21 billion over the past year, more than any other bank worldwide (Photo: Reuters)
The lender's market value has surged by $21 billion over the past year, more than any other bank worldwide (Photo: Reuters)

HDFC Bank, market’s favourite megabank, is surrounded by a lending crisis

  • Investors pile into HDFC Bank’s stock, convinced it will emerge winner from India’s financial woes
  • Among the 25 biggest lenders globally, no other stock commands a higher price relative to earnings or net assets

To get itself out of the grey list, Pakistan will need a minimum of 11 members. (Photo: Reuters)
Design curator Jane Withers (Photo: Kumar/Mint)
Design curator Jane Withers (Photo: Kumar/Mint)

Why the ancient bathing springs should make a comeback

  • Design curator Jane Withers believes that the loss of bathing places has made us less sensitive to water and, even, devalue it
  • Our idea of luxury is a power shower in a sterile commune cubicle. We have lost a lot of connection with water, says Tithers

The pilots are first hired on the contractual basis for five years with a low salary. Photo: Mint
The pilots are first hired on the contractual basis for five years with a low salary. Photo: Mint

Air India faces mass resignation ahead of divestment

  • Around 120 Airbus A-320 pilots tendered their resignation after their demands pertaining to the salary hike and promotion were not paid heed to by the AI management
  • This came in the backdrop of the Central government's decision to initiate the process of divestment of Air India's stake