With Mubadala, Jio Platforms nears finishing line of pre-IPO fund raising target

• On listing, the general expectation is that Jio Platforms will be valued much higher than what the Street had pegged its valuations at

India curve continues to rise, could hit 300,000 cases in a week

The death count in Mumbai is now close to 1,500, while that in Ahmedabad is now 938

Sensex rebounds 31%, but why are many investors stuck with low returns?

• Although there are worries over this sharp pullback, this rally has brought some respite to investors who saw a much sharper correction of around 50% in a month’s time during February-March.

Economy shows signs of springing back to life as lockdown lifts

• Initial numbers seem to indicate the economy is on the mend as the lockdown lifts, but it is unclear if demand will hold up as unemployment rises
• Movement of goods, which shrank sharply in March and April, picked up in May, in line with the relaxations

RIL's Jio Platforms gets one more investor, Mubadala to buy 1.85% for Rs9,094 cr

• Jio has so far raised Rs87,655.35 crore by selling 18.97% stake to 6 investors that include Facebook, General Atlantic, KKR
• The stake sales are part of RIL's plan to be debt-free by March. It raised Rs53,124 crore via a rights issue that closed 4 June

Coronavirus: India sees deadliest 24 hours with highest deaths, 9,851 new cases

• India now has the seventh highest number of cases in the world after the United States, Brazil, Russia, United Kingdom, Spain and Italy
• The deadly novel coronavirus has claimed 6,348 lives in the country, 273 coronavirus patients died in last 24 hours

With second highest active cases in India, tally crosses 25,000 in Delhi

• The total number of coronavirus patients in the national capital has crossed 25,000-mark
• The Union health minister Harsh Vardhan advised the Delhi government to ramp up testing, surveillance, contact tracing

Bharti Airtel share prices may double in 3 years: Jefferies

• India’s telecom market has drawn attention from global giants
• The ratio of mobile revenue to gross domestic product for India is among the lowest of countries with similar per capita GDP, suggesting scope for average revenue per user to rise

The tragedy of Indian H-1B visa holders with US-born kids

• Many Indian H-1B visa holders are feeling left out in the US now
• US-born kids of H-1B visa are not being allowed entry to India under the Vande Bharat Mission flights

FMCG recovery hinges on revival of rural demand

• Thanks to a bumper crop this year, rural demand is likely to remain strong, which, in turn, will aid revival in demand
• If firms spend more on improving their work culture, then there will be better-run companies

Hexaware jumps 20% as board set to consider delisting proposal

• Baring PE, through HT Global, holds 62.4% stake in Hexaware, while 37.6% is held by public shareholders. For the delisting, HT Global will consider a price of ₹285 apiece

Restaurants, malls, hotels to reopen from Monday: New rules in 10 points

• Temperature screenings will be a must at entrances and visitors will be allowed only if they use face cover or masks which should be worn at all times inside
• Cinema halls, gaming arcades and children play areas in these establishments will remain closed

One person arrested in connection with death of pregnant elephant

Forest department sources had said yesterday that three people were under the scanner of the joint investigation team of Kerala police and their personnel and a search was on for two more people

Coronavirus cases in India rise to 2.26 lakh, over 9,800 new cases in 24 hours

• India has recorded 273 fatalities in last 24 hours, the highest toll in a single day since outbreak
• Delhi now has the maximum number of active coronavirus cases after Maharashtra

Petronet invites partners for development of LNG stations

• PLL will soon be coming out with the finer details of the partnerships in coming weeks
• PLL has already launched its first commercially registered LNG buses and LNG dispensing stations at its Dahej and Kochi Terminals

Coronavirus treatment: Medical journal Lancet withdraws study flagging HCQ risks

• In their paper published on May 22, the authors claimed that hydroxychloroquine and chloroquine, a related compound, were ineffective against COVID-19 and even increased the risk of death

Stocks to Watch: RIL, Power Grid, Lupin, DLF, SBI, HCL Tech, UPL, Rites

• Mubadala Investment Company will buy 1.85% stake Reliance Industries' Jio Platforms for ₹9,093.60 crore
• DLF reported a net loss of ₹1,858 crore for the March quarter versus net profit of ₹436.6 crore in the same period last year

Gold prices today fall sharply, a day after rising ₹700 per 10 gram

• Gold prices have fallen sharply since hitting a record high of about ₹48,000 per 10 gram last month
• In global markets, gold prices are set for third weekly drop

Reliance Industries shares hit record high after announcing another Jio deal

The jump in the RIL's share price came after Mubadala Investment Company announced investment of ₹9,093.60 crore into Jio platforms

Goldman Sachs executive's email on racial inequality in America goes viral

• Goldman Sachs on Wednesday created a $10 million fund for racial equity
• The email by Frederick Baba, a managing director at the bank who is black, coincides with other Wall Street executives and companies speaking out against racial inequality

Realme budget phone Narzo 10A to go on sale today: Details here

• It will be available in a single variant with 3GB RAM and 32GB of internal storage
• The Realme Narzo 10A will be offered in So White and So Blue colour

Mukesh Ambani's Jio Platforms gets ₹87,655 cr investment in 6 weeks. Timeline

• Mubadala's investment will translate into a 1.85 per cent equity stake on a fully diluted basis
• Jio Platforms has raised a total of ₹87,655.35 crore from leading global technology and growth investors

The de-escalation road map for India and China

It has been a month since the India-China face-off began with an incident at the Pangong Tso Lake in Ladakh along the LAC. Mint takes a look at steps taken to ease the tension

US tech firms line up for stakes in telcos

• Airtel could also benefit from Amazon’s purchase-level insight due to its e-commerce services
• Analysts say the discussions and buzz around partnerships between technology and telecom companies could mark a strategic shift, especially in the e-commerce sector

₹16,039-crore Pune-Nashik semi-high speed rail line project gets nod

• MRIDC (also known as MahaRail) will be implementing the project, which had been pending approval for long
• The Railway line will pass through three districts of Maharashtra - Pune, Ahmednagar and Nashik

Forbes highest-paid celebrities: Kylie Jenner tops, Akshay Kumar only Indian

Forbes estimated that Jenner earned $590 million in the last 12 months, mostly from the sale of a 51% stake in her Kylie Cosmetics line to Coty in 2019

20 Delhi Metro staff have tested positive for Covid-19 till date

Many Delhi Metro Rail Corporation (DMRC) officials have been coming to office or to station premises to ensure smooth resumption of services, whenever the orders come from the government.

Treatment of coronavirus patients: Delhi govt issues new rules for hospitals

• Govt has directed all the hospitals to shift the patient from the vehicle to the triage area in 15 minutes without asking for details
• The patient must not be made to stay in triage for more than 3 hours

Bharti Airtel clarifies on reports of Amazon in talks to buy stake in company

• The company 'routinely works with all digital and OTT players and has deep engagement with them to bring their products, content and services for our wide customer base', Bharti Airtel said

Elon Musk says ‘time to break up Amazon,’ escalating feud with Jeff Bezos

• 'Monopolies are wrong,' Elon Musk tweeted while tagging Jeff Bezos, the world’s wealthiest man
• The online retailer is among tech companies being scrutinized by federal regulators and lawmakers for the increasing size and the scope of its business

New search system could help contain covid-19

AB-PMJAY officials have been tracing high-risk beneficiaries through call centres, enquiring about covid-19 symptoms such as breathlessness, fever, and lack of the sense of taste

India's urban covid-19 outbreak is morphing into a rural health crisis

• All transport in India was suspended in late March, when Prime Minister Narendra Modi announced a nationwide lockdown in an attempt to contain covid-19
• As migrant workers fan out to their villages, some states with an existing heavy burden of cases are facing a second wave of infections

No touching of idols to staggered entrance: Unlock 1.0 rules for religious areas

• No physical offerings like Prasad/distribution or sprinkling of holy water, etc to be allowed inside the religious place, said health ministry in a statement
• Common prayer mats should be avoided and devotees should bring their own prayer mat or piece of cloth which they may take back with them, it added