Larsen and Toubro completed its acquisition of Mindtree with the induction of its three nominees during the annual general meeting of the Bengaluru-based IT firm (Photo: Aniruddha Chowdhury/Mint)
Larsen and Toubro completed its acquisition of Mindtree with the induction of its three nominees during the annual general meeting of the Bengaluru-based IT firm (Photo: Aniruddha Chowdhury/Mint)

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: AUM in actively managed equity oriented funds grew to  ₹1,68,900 crore
HDFC AMC Q1: AUM in actively managed equity oriented funds grew to 1,68,900 crore

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

Hopes that the hike in fuel prices may result in an uptick in rentals were dashed when the mid-July hike of 2.5% failed to sustain. (Photo: Ramesh Pathania/Mint)
Hopes that the hike in fuel prices may result in an uptick in rentals were dashed when the mid-July hike of 2.5% failed to sustain. (Photo: Ramesh Pathania/Mint)

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

ITR deadline 2 weeks away | Quick guide to file income tax online

July 31, 2019 is the last date for filing income tax return for the year 2018-19. From the forms needed, to the information they require - here's a quick guide for first-timers to file income tax online. Watch the full video to also know the changes in the process introduced by the Income Tax Department. Stay tuned to this space for more information like checking tax refund status to why it's advisable to file ITR even by those whose income isn't taxable.

Revenue trends for telcos are unlikely to see major change in the recently concluded June quarter (Pradeep Gaur/Mint)
For the July-September, General Provident Fund and other similar funds will pay 7.9%
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Rescue work going on at the site of four-storied Kesarbai building in Mumbai's Dongri. (ANI)
India’s Core inflation slowed to 4.1% -- its lowest in nearly two years down from 4.23% in May, according to government data on Friday. (Photo: Bloomberg)

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Lack of financing options from non banking financial companies have further exacerbated the situation for truck fleet owners. (Photo: Ramesh Pathania/Mint)
Lack of financing options from non banking financial companies have further exacerbated the situation for truck fleet owners. (Photo: Ramesh Pathania/Mint)

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

Kerala chief minister Pinarayi Vijayan. (Ramesh Pathania/Mint)
Long Reads
A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California. (Reuters)
A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California. (Reuters)

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

ITR Filing
Plain Facts
In FY17, Snapdeal’s consolidated losses stood at  ₹4638 crore, which was also an 87% year-on-year drop compared to FY18 losses of  ₹611 crore. (Photo: Reuters)
In FY17, Snapdeal’s consolidated losses stood at 4638 crore, which was also an 87% year-on-year drop compared to FY18 losses of 611 crore. (Photo: Reuters)

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

Photo: Priyanka Parashar/Mint
L&T's takeover of Mindtree marked India's first-ever hostile takeover in the IT space.
A sanguine view is that product off-take figures will normalize as the industry adjusts to GST and normalises inventory levels. (Photo: Bloomberg)
Photo: Reuters
If the money has to be held for less than seven days, then overnight funds will be more suitable for investors.
If the money has to be held for less than seven days, then overnight funds will be more suitable for investors.

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

In Budget 2019, the government proposed to provide additional income tax deduction of on loans taken to purchase electric vehicles
The bank’s total exposure to the non-bank and HFCs constitute 14.4% of its total loans. (Photo: Pradeep Gaur/Mint)
The slump in equities further frayed the nerves of investors spooked by a string of yearlong defaults in the nation’s credit markets that started with IL&FS Group in June last year. (Reuters)
The slump in equities further frayed the nerves of investors spooked by a string of yearlong defaults in the nation’s credit markets that started with IL&FS Group in June last year. (Reuters)

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 wants to
Microsoft Internet Games services on Windows XP and ME will end on July 31, 2019.
Microsoft Internet Games services on Windows XP and ME will end on July 31, 2019.

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

On MCX, gold prices traded near  ₹35,000 level (Reuters)
Tamil Nadu government’s new initiative will also enable Anganwadi workers to be involved in the Aadhaar registration work.
Tamil Nadu government’s new initiative will also enable Anganwadi workers to be involved in the Aadhaar registration work.

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

Bank of England governor Mark Carney presents the image of mathematician Alan Turing who will appear on a new 50 pound note
Bank of England governor Mark Carney presents the image of mathematician Alan Turing who will appear on a new 50 pound note

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

Orders have been issued for implementation of the decision with immediate effect. (Mint)
Orders have been issued for implementation of the decision with immediate effect. (Mint)

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

After the IndiGo pilot returned home, he filed a police complaint. (Pradeep Gaur/Mint)
The Rao Tula Ram (RTR) flyover was opened by Delhi chief minister Arvind Kejriwal. (@AamAadmiParty )
In India, Coca-Cola sells these brands through 2.6 million outlets and functions along with owned bottling plants as well as bottling partners. (Photo: Bloomberg)
IndiGo had in 2011 ordered engines from Pratt and Whitney
IndiGo had in 2011 ordered engines from Pratt and Whitney

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

DHFL posted its worst quarterly loss of  ₹2,224 crore on Saturday
If Sebi's latest measures are hurting mutual funds, they have only themselves to blame for going out of line in the first place. (AFP)
If Sebi's latest measures are hurting mutual funds, they have only themselves to blame for going out of line in the first place. (AFP)

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

Files from encrypted messaging apps such as WhatsApp and Telegram were not safe. (Reuters)
Files from encrypted messaging apps such as WhatsApp and Telegram were not safe. (Reuters)

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

Netflix is teaming up with Shah Rukh Khan’s Red Chillies Entertainment for Betaal, a horror series based in a remote village. (Photo: HT)
Netflix is teaming up with Shah Rukh Khan’s Red Chillies Entertainment for Betaal, a horror series based in a remote village. (Photo: HT)

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

On Amazon Prime Day, Sales of car seats, appliances and toys were up four to five times a typical day. (AP)
On Amazon Prime Day, Sales of car seats, appliances and toys were up four to five times a typical day. (AP)

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

The Seltos will be BSVI compliant right from its launch. (AP)
Adani Ports claims to be the country’s largest port developer and operator with a 21.2% market share of port capacity.
Adani Ports claims to be the country’s largest port developer and operator with a 21.2% market share of port capacity.

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

In 2016, the AAI had issued a circular asking airports under its control to make public announcements in the local language followed by Hindi and English.
In 2016, the AAI had issued a circular asking airports under its control to make public announcements in the local language followed by Hindi and English.

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

The new flights would be on Delhi-Jeddah, Mumbai-Kuwait and Mumbai-Dubai routes, IndiGo said.
The new flights would be on Delhi-Jeddah, Mumbai-Kuwait and Mumbai-Dubai routes, IndiGo said.

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

And given India’s ongoing job challenge, millennial's views on the type of jobs they desire is particularly pertinent.
And given India’s ongoing job challenge, millennial's views on the type of jobs they desire is particularly pertinent.

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

People walk past uprooted trees as Cyclone Phethai barrels through coastal Andhra Pradesh, at Kakinada town in East Godavari.  (Photo:AP)
DHFL posted a net loss of  ₹2,223 crore during the quarter compared with a profit of  ₹134 crore in the same period a year earlier. (Photo: Mint)
DHFL posted a net loss of 2,223 crore during the quarter compared with a profit of 134 crore in the same period a year earlier. (Photo: Mint)

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 rural stress, demand disruption due to general elections is among the key causes. (Photo: Hindustan Times)
The rural stress, demand disruption due to general elections is among the key causes. (Photo: Hindustan Times)

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

PWD workers trying to remove the debris and boulders on the national highway 58 near Badrinath after the highway closed for vehicles as landslides block the highway in Uttarakhand on Monday. (ANI)
PWD workers trying to remove the debris and boulders on the national highway 58 near Badrinath after the highway closed for vehicles as landslides block the highway in Uttarakhand on Monday. (ANI)

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

File photo. Amazon had said in advance that the strike would not affect deliveries to customers. (AFP)
File photo. Amazon had said in advance that the strike would not affect deliveries to customers. (AFP)

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 lies in the middle of a vital aviation corridor. (Mint)
PayPal's Xoom partners with major banks and other finance firms to facilitate the money transfers
Goa chief minister Pramod Sawant (PTI)
Goa chief minister Pramod Sawant (PTI)

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

Equity investment in India by overseas financial investors is upward of $400 billion. (Photo: Reuters)
Equity investment in India by overseas financial investors is upward of $400 billion. (Photo: Reuters)

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

An Indonesian soldier looks at a Hindu temple damaged following an earthquake in Denpasar, Bali, Indonesia. (Reuters)
An Indonesian soldier looks at a Hindu temple damaged following an earthquake in Denpasar, Bali, Indonesia. (Reuters)

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

 (Mint)