Photo: Mint
Photo: Mint
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Market LIVE: Sensex, Nifty off day's low; Bharti Airtel, Bajaj Finance top drags

  • After a firm opening, Indian benchmark equity indices pared gains led by losses in Infosys, ICICI Bank and Kotak Bank. Shares of RIL traded higher ahead of Q2 results.

Refinery, which is expected to be the weakest segment for the September quarter for RIL, may register a 4% q-o-q decline in Ebit. (Photo: Reuters)
Refinery, which is expected to be the weakest segment for the September quarter for RIL, may register a 4% q-o-q decline in Ebit. (Photo: Reuters)

Reliance Industries Q2: Telecom, retail likely to drive growth

  • Telecom subsidiary Reliance Jio Infocomm is likely to continue with its growth momentum in the September quarter. Key metrics such as average revenue per user (Arpu) may improve with physical and digital recharges picking up

Borrowing from or lending by a relative or friend is not a taxable transaction from an income tax perspective but there are certain other regulations that one should keep in mind while borrowing or lending, to avoid penalties (iStock)
Borrowing from or lending by a relative or friend is not a taxable transaction from an income tax perspective but there are certain other regulations that one should keep in mind while borrowing or lending, to avoid penalties (iStock)

Tax regulations to consider in borrowing from or lending by friends or relatives

  • The loan should not be given in cash or bearer’s cheque in case the amount is more than Rs20,000. Same regulations will apply in case of repayment
  • An Indian resident can only take foreign exchange loans from his close non-resident relatives, and such a loan cannot exceed $250,000 per year

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Pills in the hand of a worker in the quality control laboratory at the Stada Arzneimittel AG factory in Bad Vilbel, Germany, on Wednesday, Oct. 28, 2020. Stada�is seeking to bolster its pipeline ahead of a potential sale or listing of the pharmaceutical company by its private equity owners. Photographer: Alex Kraus/Bloomberg (Bloomberg)
Pills in the hand of a worker in the quality control laboratory at the Stada Arzneimittel AG factory in Bad Vilbel, Germany, on Wednesday, Oct. 28, 2020. Stada�is seeking to bolster its pipeline ahead of a potential sale or listing of the pharmaceutical company by its private equity owners. Photographer: Alex Kraus/Bloomberg (Bloomberg)

Indian pharma company, whose shares are up 350% year to date, to boost capacity

  • Laurus plans to fund the capital expenditure through a mix of internal accruals and some external debt.

The 7.5% quota would be applicable to those who studied in govt schools from Class 6 to Class 12. (AP)
A man counts rupee notes inside a shop in Mumbai. (REUTERS)
SAI is similar to commercially available messaging applications like WhatsApp, Telegram. (Reuters)
The Meteor 350 will be replacing the Thunderbird 350X motorcycle. Source: Royalenfield.com

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The highlight of Q2 is the sharp improvement in the operating metrics of TVS (Hemant Mishra/Mint)
The shutting down of servers means PUBG Mobile and PUBG Mobile Lite will no longer be available to the existing users who had downloaded the games before the government's app ban. (MINT_PRINT)
The shutting down of servers means PUBG Mobile and PUBG Mobile Lite will no longer be available to the existing users who had downloaded the games before the government's app ban. (MINT_PRINT)

Curtains down on PUBG Mobile in India with server shut down

  • PUBG Mobile and PUBG Mobile Lite's Indian servers were operated by China-based Tencent Games
  • The closure of servers will deprive existing users of PUBG from playing the game on their phones. The government had banned the game as part of its 70-app ban in September

517 passport seva kendras, including 424 Post Office Passport, across the country provide passport services
In April 2020, a nationwide lockdown sent debt markets into a tizzy.
A man walks past an electronic stock board.  (AP)
Vodafone Idea's 4G subscriber base has risen by only 10.4% in the past year, while in Airtel’s case, the segment has grown 48.5%.
A healthcare worker wearing personal protective equipment (PPE) collects a swab sample from a man amidst the spread of the coronavirus disease (COVID-19), (REUTERS)
Holidays delay the credit of redemptions from mutual funds into investors’ bank accounts. (istock)
Gandhinagar: Prime minister Narendra Modi leaves the residence of former Gujarat chief minister late Keshubhai Patel after paying condolence to Patel's family (PTI)
Bengaluru lockdown: Public transportation services which include KSRTC, BMTC and private buses will remain suspended during the period. (PTI)
Bengaluru lockdown: Public transportation services which include KSRTC, BMTC and private buses will remain suspended during the period. (PTI)

Infosys turns carbon neutral: Implications for Bengaluru

  • Lack of mass mobility solutions in Bengaluru has forced people to rely on private vehicles which is the biggest source of pollution in India’s technology capital. There are over 8.5 million vehicles plying in the city which has just over 10 million residents

Sriharikota Range was renamed in 2002 after ISRO's former chairman Satish Dhawan
Kerala has been able to improve its numbers in the past week, but reported more new cases (nearly 50,000) in the period than any other state. (PTI)
Democratic U.S. presidential nominee and former Vice President Joe Biden. (REUTERS)
Democratic U.S. presidential nominee and former Vice President Joe Biden. (REUTERS)

Two prominent Indian-Americans among Joe Biden’s core advisers

  • Among those advising him on the pandemic are Dr Vivek Murthy, former US Surgeon General who was appointed by President Barack Obama and Harvard economist Raj Chetty is among those who have briefed Biden on economic issues

Route Mobile today hit a new high of  ₹1,006 per share
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint

Five things to know about LTC cash voucher scheme

  • The scheme is valid for 2018-21. Those availing it should spend three times the payout on buying goods or services taxed at 12% or above. Purchases must be from GST registered suppliers, with payments made digitally and by 31 March

The Bombay Stock Exchange building is seen from a facade in Mumbai. (REUTERS)
The Bombay Stock Exchange building is seen from a facade in Mumbai. (REUTERS)

Markets brace for turbulence over US polls, 2nd covid wave

  • The BSE Sensex ended 173 points lower at 39,749.85 on Thursday, while the Nifty index ended at 11,670.80, down 59 points
  • Analysts expect the market to stay volatile until a clear winner emerges in the US elections, and expect the pandemic to cast a shadow after the election as well

Photo: Mint
A firefighter receives a Covid-19 test after a potential exposure while working with a patient. (AFP)
Gold rates today: Prices on MCX rose to  ₹50,425 per 10 gram
Indonesian President Joko Widodo, left, and U.S. Secretary of State Mike Pompeo wave at photographers during their meeting at Bogor Presidential Palace in Bogor, West Java, Indonesia. (AP)
Indonesian President Joko Widodo, left, and U.S. Secretary of State Mike Pompeo wave at photographers during their meeting at Bogor Presidential Palace in Bogor, West Java, Indonesia. (AP)

Mike Pompeo says China 'gravest threat' to religious freedom

  • In Indonesia, which has the world's biggest Muslim population, Pompeo took aim at China's treatment of its Uighur Muslim minority
  • China is Indonesia's biggest trading partner and criticism in the Southeast Asian country of Beijing's treatment of Uighurs has been muted

The Netflix logo is pictured on a television. (REUTERS)
Anthony Fauci, MD, Director, National Institute of Allergy and Infectious Diseases, National Institutes of Health. (REUTERS)
Anthony Fauci, MD, Director, National Institute of Allergy and Infectious Diseases, National Institutes of Health. (REUTERS)

Coronavirus vaccine shipments: 1st US vaccines could ship late Dec or early Jan

  • 'The first interim look (at trial results) should be, we hope, within the next few weeks, Dr Anthony Fauci said
  • Both firms started the final stage of clinical testing in late July with tens of thousands of people taking part in each trial

In the eyes of the demonstrators, the king is the antithesis of constitutional monarchs. The Thai monarchy’s $40 billion contrasts with the Queen of England’s assets of $500 million (Photo: AP)
In the eyes of the demonstrators, the king is the antithesis of constitutional monarchs. The Thai monarchy’s $40 billion contrasts with the Queen of England’s assets of $500 million (Photo: AP)

Why 2020 is Thailand’s year of living dangerously

  • The upheaval in Thailand could hurt the Asian Tiger that is already grappling with a middle-income trap
  • In the eyes of the demonstrators, the king is the antithesis of constitutional monarchs. The Thai monarchy’s $40 billion contrasts with the Queen of England’s assets of $500 million

The benchmark rate applicable for such relief would be the contract rate, which is used by the credit card issuers for the purpose of EMI loans, it added (REUTERS)
The benchmark rate applicable for such relief would be the contract rate, which is used by the credit card issuers for the purpose of EMI loans, it added (REUTERS)

Interest-on-interest waiver: Crop, tractor loans not part of ex-gratia scheme

  • The scheme, which was announced as per the direction of the Supreme Court, is likely to cost the exchequer 6,500 crore
  • Crop and tractor loans come under agriculture and allied activities loans and are not part of the eight segments or classes eligible under the scheme

Photo: Reuters
Photo: Reuters

A coalition to counter China will take some time to operationalize

India and the US will now face the hard decisions of how far each is willing to go in implementing their cooperation pacts

Prime Minister Narendra Modi. (PTI)
517 passport seva kendras, including 424 Post Office Passport, across the country provide passport services
FILE - In this Saturday, March 14, 2020 file photo, an Apple logo adorns the facade of the downtown Brooklyn Apple store in New York. Five technology giants reported mixed earnings results Thursday, Oct. 29, 2020 a sign of varying fortunes as they try to rebound from an pandemic-related economic slowdown earlier this year. While all five — Amazon, Google parent Alphabet, Facebook, Apple and Twitter — exceeded analyst expectations, gloomy forecasts and other uncertainties led to share-price declines for all but Alphabet in after-market trading.   (AP Photo/Kathy Willens, File) (AP)
FILE - In this Saturday, March 14, 2020 file photo, an Apple logo adorns the facade of the downtown Brooklyn Apple store in New York. Five technology giants reported mixed earnings results Thursday, Oct. 29, 2020 a sign of varying fortunes as they try to rebound from an pandemic-related economic slowdown earlier this year. While all five — Amazon, Google parent Alphabet, Facebook, Apple and Twitter — exceeded analyst expectations, gloomy forecasts and other uncertainties led to share-price declines for all but Alphabet in after-market trading. (AP Photo/Kathy Willens, File) (AP)

Apple sees record quarter in India, even as iPhone sales fall worldwide

  • Apple didn’t provide guidance for the next quarter, something it has been doing this year, since the pandemic has made business conditions unpredictable
  • Apple led the premium smartphone market in India in this quarter, ahead of popular brands like OnePlus and Samsung

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FILE - In this Friday, Sept. 25, 2020 file photo, people work in a workshop at Dharavi, one of Asia's largest slums, in Mumbai, India. Up to 150 million people could slip into extreme poverty, living on less than $1.90 a day, by late next year depending on how badly economies shrink during the COVID-19 pandemic, the World Bank said Wednesday, Oct. 7, 2020 in an outlook grimmer than before. (AP Photo/Rajanish Kakade, File) (AP)
FILE - In this Friday, Sept. 25, 2020 file photo, people work in a workshop at Dharavi, one of Asia's largest slums, in Mumbai, India. Up to 150 million people could slip into extreme poverty, living on less than $1.90 a day, by late next year depending on how badly economies shrink during the COVID-19 pandemic, the World Bank said Wednesday, Oct. 7, 2020 in an outlook grimmer than before. (AP Photo/Rajanish Kakade, File) (AP)

Redevelopment of Dharavi : Decision to float new tender approved

  • The previous Devendra Fadnavis government had decided on October 16, 2018, to redevelop Mumbai's Dharavi area, considered to be Asia's largest slum
  • Under the proposed redevelopment, 67,000 families living in Dharavi were to get 350 sq ft houses

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