L&T assures Mindtree shareholders the IT firm will be independent post takeover

• Mindtree's public shareholders asked the board whether Larsen and Toubro will merge its IT services subsidiary, L&T Infotech Ltd, with Mindtree or not
• On 30 June, L&T completed its ₹10,000 crore hostile takeover of Mindtree through an open offer

HDFC AMC Q1 Results: Net profit surges 42%

• HDFC AMC is the largest actively managed equity-oriented mutual fund manager in the country
• Total assets under management rose 18% to ₹3,56,700 crore

Fall in truck rentals spells a woeful tale for CVs

• Truck rentals are down by 11-14% on major freight routes from November
• A drop in fleet utilisation levels has led to some transport operators even downing shutters

As Reliance Jio, Airtel hold on to tariffs, volume growth falls off the cliff

• For telcos, volume trends are not worrying yet
• But they still face the herculean task of profitability improvement and balance-sheet repair

Govt cuts interest rate on General Provident Fund (GPF)

• GPF interest rate applies to provident funds of central government employees, railways and defence forces
• GPF rate is in line with that of Public Provident Fund (PPF)

Mumbai building collapse updates: 12 dead, over 40 trapped in Dongri

• Around 40-50 people are feared to have been buried under the rubble
• The building that collapsed before noon was located in Mumbai's Dongri area

10-year bond yield hits lowest level since demonetization

• According to Deutsche Bank AG report, the 10-year bond yield may decline to 6% by end 2019
• 10-year bond yield eased 11 bps to a low of 6.312%

Retail sales of automobiles declined by 5.4% in June

• Showroom sales of passenger vehicles decreased by 4.6% y-o-y
• Retail sales of commercial vehicles declined significantly by 19.3% to 48752 units

What does the World Bank’s $500 million ‘partnership’ mean for Kerala?

• Pinarayi Vijayan shook hands with Junaid Ahmad, World Bank’s India Director, to push the partnership, called as ‘Resilient Kerala Initiative’, into its deployment phase
• State partnership, according to the bank, is an instrument to have long term investment in the Indian state

Bitcoin briefly tumbles below $10,000, testing its stellar run

• Donald Trump’s criticism of cryptocurrencies late last week put the focus back on this year’s jump in prices
• Bitcoin initially climbed 6.8% on Friday after Trump’s comments, but has since more than erased the gains

Snapdeal cuts losses by 71% YoY to ₹186 crore in FY19

• The company has been constantly cutting losses by scaling down its expenses
• Snapdeal’s consolidated revenues grew to ₹925.3 crore in FY19

If there is no fresh contribution to PF, interest earned thereafter is taxable

• EPF as an investment avenue is preferred due to the discipline it creates, assured rate of interest along with its tax-free status
• PF account continues to earn interest till the retirement, irrespective of the fact that person is or not in an employment

L&T assures Mindtree shareholders of further impetus to long-term growth

• Earlier this month, L&T became the new promoter of Mindtree, acquiring 60.06% stake
• L&T CEO said the management will be focused on delivering best levels of service to clients

India slowdown to raise profitability challenges for pharma firms in Q1

• Volumes dropped for the second consecutive month in June
• The slowdown intensified from May, when growth dropped to 7%

Is CPSE ETF a good tax-saving option under ELSS category?

• It is better (in terms of the amount of money required to be invested) owning the ETF than owing individual stocks separately
• CPSE ETF now qualifies for 80C deduction of ₹1.5 lakh, putting this at par with ELSS

Will liquid funds work for you after Sebi’s tweak?

• Sebi to tighten investment and valuation norms to streamline risks in liquid funds
• The new rules are a continuation of the steps Sebi took in March 2019 to de-risk the debt fund category

Vakrangee to set up electric vehicle (EV) charging stations across India

• Vakrangee has 3,504 Nextgen Vakrangee Kendra outlets spread across 19 states
• It plans to increase the number of outlets to 75,000 by FY2021-22

Byju’s valuation soars by $2 billion since start of latest funding round

• Byju’s first raised funds in Series F round in Dec at a $3.5 bn valuation. In July, it raised $86 mn more at a $5.5 bn valuation
• Its expansion into grades I-III and entry into the US market have contributed to the valuation jump, investors said

Federal Bank Q1 result: Net profit rises 46% to ₹384 crore

• Net interest of the bank grew 18% year-on-year
• Federal Bank’s total deposits increased by 19.14% y-o-y to reach ₹1.32 lakh crore

A $677 billion manager spots buy opportunity amid India sell-off

• Short-term volatility is 'an opportunity to build positions in quality companies whose share prices have been indiscriminately dragged down,' said Kristy Fong
• A tax proposed earlier this month on India’s super-rich, which many overseas investors may struggle to sidestep, triggered the sharpest weekly loss in the benchmark equity index since mid May

Sandeep Sinha resigns as MD of Cummins India

• Sandeep Sinha was in February 2018 appointed as MD of Cummins India
• Prior to that he was COO of Cummins India

Microsoft is killing classic internet games old Windows users loved

• Microsoft has announced that it is killing its popular internet games on older Windows versions
• These include Backgammon, Checkers, Spades, Hearts, Reversi, and MSN Go on Windows XP, Windows ME, and Windows 7

Gold prices inch higher, approach record highs; silver rates up

• Expectations of a rate cut by US Federal Reserve have supported gold prices
• Some analysts say that gold may remain in a narrow range in the near term

Aadhaar verification no more in use for driving license

• The process of collection of biometric at the RTOs has been discontinued, Union minister Nitin Gadkari said
• Aadhaar number obtained for vehicle registrations are 1.65 crore

New 50-pound note to feature World War Two code-breaker Alan Turing

• As well as an image of Turing, the new 50-pound note will feature a table and mathematical formulae by Turing
• The note will also include a quote by Turing about the rise of machine intelligence

Lucknow-Agra Expressway: No entry for bikers without helmet

• A decision has been taken to prohibit entry of two-wheeler riders without a helmet on Agra-Lucknow Expressway
• Non-use of helmets was listed as one of the risk factors in a study released on road traffic injuries by WHO

IndiGo pilot held hostage in cab, robbed of cash, cards near Delhi airport

• The IndiGo pilot was waiting for his company cab when he was approached by another cab driver who offered to drop him
• The driver withdrew ₹1 lakh from his debit card

Delhi RTR flyover opens, to ease connectivity to Gurgaon, IGI airport

• Delhi CM Arvind Kejriwal inaugurated the long-delayed, Rao Tula Ram (RTR) flyover today
• The flyover on Outer Ring Road will also smoothen the journey to Gurgaon

Coca-Cola India & South West Asia appoints VP for M&A and new ventures

• Harsh Bhutani appointed as the VP, finance (CFO), effective from 1 August 2019
• Sarvita Sethi is appointed as the news VP, M&A for the company

CFM offered better terms for deal at centre of IndiGo row

• India’s largest airline, IndiGo, placed a $20 billion jet engine contract with CFM International in June
• IndiGo’s choice of engine assumes significance against the backdrop of the ongoing power struggle between the two promoters of the airline

How Exide and Amara Raja are bucking the trend in auto sector

• Together, the two account for about three-fourths of the replacement market sales that has better realizations than OEMs
• Apart from the tailwinds of robust replacement market sales, soft lead prices are expected to support profitability

Survival of DHFL hinges on an equity infusion of ₹3,000 crore

• Sum required to maintain capital adequacy, help raise funds to continue operations
• DHFL shares plunged on Monday after the firm’s weekend admission of its precarious state

Debt mutual funds also need a ‘Sahi Hai’ moment

• The key risks associated with debt funds include interest rate risk, credit risk and liquidity risk
• Interest rate risk is triggered due to change in interest rates which generally has an inverse correlation to returns

Your WhatsApp, Telegram files aren't safe once you receive them on phone

• The attack is called 'Media File Jacking' and all that a hacker needs to gain access to files or alter them is a malicious app
• Apps like these either use the phone's storage or external storage when you want to save your file

Shah Rukh firm’s Betaal among 5 new original series on Netflix

• Netflix has been pushing for regional language content and testing a mobile-only plan starting at ₹250 a month
• Betaal is Red Chillies Entertainment’s second Netflix series after espionage thriller Bard of Blood that stars Emraan Hashmi and will be out on 27 September

Amazon Prime Day 2019: Sales triple of normal day

• Sales of consumable products on Amazon during the first nine hours of Prime Day are about triple what they are on a typical sales day
• The results show Prime Day’s appeal stretches beyond electronics, appliances and other big-ticket purchases

Kia Seltos bookings start in India from today

• Customers can also book this SUV through Kia's official website
• The company has not revealed the price of the Seltos

Adani Ports to buy back bonds worth $650 million

• Adani Ports is buying back the $1,000 bonds for $1,009.5 apiece
• The latest bond issuance and repurchase programme at Adani Ports follow last month’s $750-million offshore bond sale

Two Indian airports figure in the list of world's best

• USA has the highest number of business travel-friendly airports in the top 10 list
• Delhi airport got 4 out of 5 stars while Mumbai airport got 3 stars

IndiGo announces new route, offers flight tickets from ₹2,899

• IndiGo will also start six new international flights connecting Delhi and Mumbai with cities in middle-eastern countries
• Currently, IndiGo is the leading airline in India as it has around 50 per cent share of the domestic air passenger market

India’s urban youth crave a new type of job

In India, urban millennials are looking for better jobs and would be happy to consider freelance work as an alternative to their current employment, shows survey data

How IOT and AI can help identify flailing trees and prevent accidents

• The researchers examined over 100 large trees scattered in the campus of City University of Hong Kong
• Several other methods have been used in the past to evaluate the health of trees

DHFL auditors seek more info on financials

• On Monday, DHFL said it is working with stakeholders and creditors to ensure resolution of liquidity issues
• Sources said auditors have sought additional information on the company's financials

The outlook on profit growth is gloomy globally

• Region wise, profit expectations in the US fell sharply to the lowest since late 2016
• As for India, analysts cautioned that the growth slowdown that started a couple of quarters ago is expected to broaden

Rishikesh-Gangotri highway remains blocked, heavy rains in Uttarakhand

• The Rishikesh-Gangotri highway remained blocked due to a landslide in Tehri district's Tachla area
• The rain led to landslides at various places, including the Gangotri Highway

Amazon workers strike as 'Prime' shopping frenzy hits

• Amazon workers picketed outside the facility, briefly delaying a few trucks and waving signs with messages along the lines of 'We're human, not robots'
• The strike was part of an ongoing effort to pressure the company on issues including job safety, equal opportunity in the workplace

Pakistan reopens airspace for civil aviation after Balakot strike

• Pakistan airspace is now open for all type of civil traffic on ATS routes
• Pakistan had closed its airspace in February

After US, Canada, PayPal launches Xoom money transfer service in Britain

• Britons alone transfer over $26 billion in remittances overseas annually
• The international global remittances market is pegged at $689 billion

Goa's Mopa airport delayed by a year

• Due to a Supreme Court order, construction of Goa's Mopa Airport is expected to be commissioned in 2021
• Developed jointly by the Goa government and GMR, the greenfield airport is planned in North Goa district

India's hedge funds threatened by higher taxes

• So much of India’s private wealth is trapped in gold that any more will be a colossal social waste
• For a country that aims to elevate GDP to $5 trillion by 2024, India needs risk capital to go into productive assets

Sachin Bansal's investments post Flipkart exit

• Bansal’s investment in Ola is widely seen as strengthening the hand of Aggarwal
• Bansal has subscribed to NCDs issued by Piramal Enterprises, which has business interests in pharmaceutical and financial services

Bali, other Indonesian islands hit by earthquake. Temple damaged

• A temple was left damaged in Bali after the earthquake
• The US Geological Survey said the magnitude 5.7 quake was centered 82 kilometers to the southwest of Denpasar on Bali

Non-bank asset sales to push securitisation volumes to ₹2 trillion in FY20

• The securitisation market continues to soar as the liquidity crisis in NBFC sector has shown no immediate signs of abetting, says ICRA
• Mortgage loans constituted the largest asset class with around in direct assignment market and around 46% share in Q1 FY20