Embassy proposes to merge 62 mn sq ft into Indiabulls Real Estate

Once the merger goes through, Embassy Group and its chairman Jitu Virwani will take control of the combined entity

India's sees a trade surplus after nearly two decades: Enjoy it while it lasts

• During June, merchandise exports contracted 12.4% while imports dipped 47.6%
• Meanwhile, a trade surplus would translate into a current account surplus in the June quarter of fiscal year 2021

Delivery on targets set by RIL in its AGMs has been mixed

Given that the targets set in 2016 and 2019 were met by the company, investors are, unsurprisingly, looking forward to more big bang announcements from RIL’s AGM today. But the experience with the announcements in 2017 and 2018 should cause them to tone down expectations a bit

Why India must remain vocal for global

• Embracing economic isolation at this point will be a strategic mistake. India must seize global opportunities
• A confident India, which is already a lower middle-income country, and which needs to avoid the middle-income trap, should not be afraid to engage with the world

Yes Bank’s ₹15,000 crore FPO subscribed 24% on first day

Yes Bank is aiming to raise ₹15,000 crore through this issue, the price band for which has been fixed at ₹12-13 per share

Rossari Biotech's Rs496 crore IPO subscribed 79 times

• The company had fixed a price band of ₹423-425 for the IPO
• Last week, the company raised ₹148.87 crore from anchor investors

Larsen & Toubro Infotech Q1 results: Profit 416 crore, revenue ₹2,949 crore

• Larsen & Toubro Infotech reported revenue of ₹2,949 crore up 18.7% year on year
• Profit stood at ₹416.4 crore up 17.1% over the year

With Jio, Google and Facebook, Mukesh Ambani plots a tech future

• Google and Jio are partnering to build an Operating System that could power a cheap 4G/5G smartphone
• Jio will roll out its 5G network once airwaves are available, according to Ambani

COVID-19: Record spike in Karnataka's coronavirus tally

• 'Only God can save us now', said Karnataka health minister B. Sriramulu
• The state registered the fourth highest caseload in the country

Positive news on Oxford coronavirus vaccine could come tomorrow: Report

• The developers of the vaccine earlier this month said they are encouraged by the immune response they have seen in trials so far
• The Oxford vaccine project is already into final stage of human trials

Moratorium poses a big challenge to MFIs

The debt moratorium given by the RBI till August following the covid-19 outbreak is a major relief for borrowers, and gives a breather to poor households facing wage cuts and job losses

RIL announces strategic initiatives at AGM, raises hopes of investors

• The big announcement in the AGM pertains to the partnership with Google
• The end-product and its pricing will be key in determining the success of the new JioPhone

Mint Lite | India trade surplus, covid vaccine, Netflix top movies & other news

A daily wrap of news and views, opinions and talking points to start your day

Air India to send staff on leave without pay for upto five years

Air India has over 11,000 permanent employees on its rolls, which include staff from its subsidiary companies

Govt launches IIT Delhi’s covid-19 test kit for commercial use at ₹399

• Approved by the Indian Medical Council of India and Drug Control General of India, the commercial product named ‘Corosure’ was commercially developed by a company named NewTech Medical Devises after obtaining license from the IIT

India's trade balance turns surplus in June

• During June, merchandise exports contracted 12.4% while imports dipped 47.6%, leading to a trade surplus of $790 million
• India’s current account balance recorded a surprise marginal surplus at 0.1% of GDP in March quarter of FY20

Reliance Jio TV Plus: Users can watch Netflix, Prime, Hotstar from single log-in

• At the AGM, Akash Ambani gave viewers a demonstration of the new Jio TV Plus interface
• The interface will divide content in different genres for ease of browsing

How work from home policy will hit REITs

• With demand for office and commercial spaces likely to reduce as companies consider permanent work from home, revenues for REITs may take a hit
• The short-term outlook for REITs is not positive but experts don’t write them off in the long term

Lowering GST on hand sanitisers will go against local producers: FinMin

The ministry said in a statement that sanitisers are disinfectants like soaps and anti-bacterial liquids all of which attract the standard rate of 18% GST

New HRD Ministry guidelines for school classes online: Details here

The new rules have been put in place after parents complained about increased screen time due to online classes

How much tax do you pay on your investment?

The Budget 2020 has not made too many changes to taxes, except the abolition of DDT. Here is a look at the various taxes that apply to some of these instruments under categories

PM Modi's message for CBSE students who are unhappy: One exam doesn't define you

• 'Each of you is blessed with numerous talents. Live life to the fullest. Never lose hope, always look ahead. You will do wonders,' PM Modi said

Uttam Galva Steels Apr-Jun net loss narrows to ₹159.6 cr

• The company also stated that its income came down to Rs. 89.06 crore from Rs. 112.78 crore a year ago

COVID-19 global vaccine plan: More than 150 countries sign up to cure corona

• Gavi said the 165 countries that have expressed interest represent about 60% of the world’s population
• Dozens of vaccines are being researched, and some countries — including Britain, France, Germany and the United States — already have ordered hundreds of millions of doses

Infosys outperforms TCS; guidance shows damage from covid is minimal

Infosys’s revenue grew 1.5% year-on-year, compared to a 4.4% and 6.3% fall for Wipro and TCS, respectively

Wall Street climbs, tentatively, with hopes for COVID-19

Shares rose in global markets on Wednesday as investors took heart from news that an experimental COVID-19 vaccine had revved up people’s immune systems just as desired

Wipro stock finds favour after positive Q1 earnings, new CEO’s comments

Perception for the Wipro stock changed overnight after the company reported better-than-expected earnings for the June quarter

India-China border talks: Beijing says achieved progress in troop disengagement

• On the table from the Indian side is the restoration of status quo ante – or a complete withdrawal of Chinese troops to positions they occupied in April. The Chinese have made inroads into what is seen as Indian territory

Serum Institute’s indigenous pneumonia vaccine gets DCGI approval

• As per the government’s clinical trial registry, the first phase of the trial was conducted in 2013 in 34 young Indian adults, while the second phase in 114 toddlers of 12-15 months

Infosys appoints Bobby Parikh as an Independent Director

• Parikh was most recently co-founder of BMR Advisors
• Prior to forming BMR Advisors, Parikh was the Chief Executive Officer of Ernst & Young in India

Infosys Q1 earnings: Net profit rises 12% to ₹4,233 crore, beats estimates

• The revenue from the operations increased 1.7% sequentially to ₹23,665 crore
• Infosys signed $1.74 billion worth of large deals in the three months to June 30, it said in a statement

Russia says coronavirus vaccine is tested and safe

• 'Their immunity is working well, antibodies are being created, they are protected against the coronavirus', said a researcher

What the latest court ruling means for Indian students in US

Of the 1.1 million foreign students in the US, a third are Chinese, and roughly a fifth are Indians

Ambani echoes PM Modi's atmanirbhar Bharat: RIL to work with Indian startups

• In the next three years, Jio will connect half a billion mobile customers, a billion smart sensors and 50 million home and business establishments, says Mukesh Ambani

Reliance Jio announces new Jio Glass for 3D interactions, holographic content

• The Jio Glass weighs just 75gm and comes with personalized audio
• In order to access content on the device, the company will provide a simple cable that can be attached to the smartphone

Moderna covid vaccine produces neutralizing antibodies, enters final stage trial

Moderna’s Covid-19 vaccine produced antibodies to the coronavirus in all patients tested in an initial safety trial, federal researchers said, clearing an important milestone as the US continues to grapple with a surge in new infections

Reliance Jio, Google announce new Android-based operating system

Reliance Industries Chairman, Mukesh Ambani announced that the new operating system is aimed at developing new affordable smartphones

CBSE 10th Result 2020 Updates: Board results declared at cbseresults.nic.in

CBSE 10th Result 2020 LIVE updates: The board results were announced through an alternative assessment scheme after it cancelled remaining exams in wake of COVID-19 pandemic.