More than 1,976 stocks traded on BSE have dropped since January—that’s 86% of all traded stocks. (HT)
More than 1,976 stocks traded on BSE have dropped since January—that’s 86% of all traded stocks. (HT)

Mid-cap mayhem: Long road to recovery

  • Mid- and small-cap stocks have gone through a free fall. To make matters worse, large-caps are now in trouble
  • The large-cap-based BSE Sensex has been masking the pain. The bellwether gained 12% since Jan 2018, but within the large-cap universe, only a handful are driving the surge

With the additional tax on dividends, companies had found share buybacks a more optimum route to distribute surplus cash to shareholders (Mint)
With the additional tax on dividends, companies had found share buybacks a more optimum route to distribute surplus cash to shareholders (Mint)

Companies seek clarity on buyback tax from finance ministry

  • Some companies have sought clarity on the applicability of the buyback tax on their offerings, which had been announced before the Budget proposal
  • In the past three years, publicly traded firms bought back shares worth 1.43 trillion

Munish Varma, managing partner at SoftBank Vision Fund.
The court added that Noida and Greater Noida colluded with the realty group in allowing diversion of the home buyers' money and not acting as per the law. (HT)
The court added that Noida and Greater Noida colluded with the realty group in allowing diversion of the home buyers' money and not acting as per the law. (HT)

Supreme Court cancels registration, lease of Amrapali group

  • The court directed ED to investigate the alleged money laundering by Amrapali CMD Anil Sharma and other directors of the group
  • The apex court also directed Noida and Greater Noida to handover a completion certificate to the flat buyers who are already residing in various projects

APPLE satellite being tested in a bullock cart in 1981. (Photo: www.isro.gov.in)
Not just global cues, domestically as well odds seem to be in favour of the precious metal. (Photo: Reuters)
Not just global cues, domestically as well odds seem to be in favour of the precious metal. (Photo: Reuters)

With all odds in its favour, gold hogs limelight

  • Gold prices in India too soared to over 36,000/10gms recently, touching its life-time high
  • With equity valuations remaining expensive, gold seems to be regaining its safe haven status

Loans to companies grew just 7.4%, a far cry from double-digit growth the lender reported in previous quarters (Mint file)
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InterGlobe Aviation co-founder Rahul Bhatia (Photo: Pradeep Gaur/Mint)

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Donald Trump and Narendra Modi. Photo: Reuters
Plain Facts

Mint Headlines: Jet Airways crisis, heat on cryptocurrencies and more

Headlines @ Mint gives you a quick brief on the biggest events and developments expected to make news this Tuesday, including the hearing on Jet Airways insolvency case, government heat on cryptocurrencies and the countdown to who will be the next British PM. Also on the menu are the latest on the Essar steel case, Indigo’s plan to expand the board, Xiaomi entering the Fortune 500 list and more. Watch the full video to tune into your daily dose of news shorts and more.

Vetri Subramaniam, group president and head of equity, UTI Asset Management
Small eateries account for 80% of Zomato’s orders in emerging cities. For Swiggy, 35% of its business comes from small outlets and stand-alone restaurants. (Mint)
Small eateries account for 80% of Zomato’s orders in emerging cities. For Swiggy, 35% of its business comes from small outlets and stand-alone restaurants. (Mint)

Small eateries log on to food delivery apps, discover new customer base

  • In small cities, the apps are helping outlets expand their business and in metros, iconic joints are getting new customers
  • India’s food services market is pegged at 4.2 tn, 65% of which comprises unorganized and unlicensed joints

Long Reads
 (Bloomberg file)
The southwest monsoon has covered the entire country on 19 July, against its normal date of 15 July. (Photo: PTI )
ITR Filing
Sourirajan with his wife, Subasree and daughter, Gayathri Ganesh at their Chennai residence. He was able to move to his house only after a long court battle with his tenant. (Sai Sen/Mint)
Sourirajan with his wife, Subasree and daughter, Gayathri Ganesh at their Chennai residence. He was able to move to his house only after a long court battle with his tenant. (Sai Sen/Mint)

Draft Act has little room for owner-tenant fights

  • Draft Model Tenancy Act tries to balance the rights and interests of owners, tenants
  • The draft Act proposes to cap security deposit to a maximum of two months’ of rent for residential houses

Kavita Kumble took a loan from IDFC First Bank for her solo trip to Antarctica
A still from Mulk, which did not find box-office success but has managed to garner views on video streaming platform ZEE5.
A still from Mulk, which did not find box-office success but has managed to garner views on video streaming platform ZEE5.

Streaming sites a haven for niche films while blockbusters take to TV

  • Video streaming services have become a haven for experimental films that are unlikely to find theatrical draw
  • Impressions, a term used by the viewership measurement agency BARC, refer to the number of individuals in thousands of a target audience who viewed an event, averaged across minutes

On MCX, gold prices were down below  ₹35,000 per 10 gram
Glitch in Delhi Metro's Magenta Line Photo: PTI
 (Photo: iStock)
(Photo: iStock)

No new changes in online ITR forms, says CBDT

  • Online ITR forms were changed and updated on 1 April itself, while utility forms meant for partial online filing were updated with the changes in May
  • Updating of utility does not hamper filing of ITR as taxpayers can use utility available at any given point, said CBDT

HDFC Bank has hiked interest rates on FDs with maturity between 5 years and 10 years (HT)
Earlier this month, the NCLAT allowed ArcelorMittal’s purchase of Essar Steel, while modifying the distribution of the proceeds (Mint file)
Earlier this month, the NCLAT allowed ArcelorMittal’s purchase of Essar Steel, while modifying the distribution of the proceeds (Mint file)

Apex court stays NCLAT verdict in Essar Steel insolvency case

  • The top court put on hold the sale of Essar Steel and said the NCLAT order should not be given effect to as of now
  • The court said it would resolve issues arising from the Essar verdict expeditiously and fix an early date for hearing the case

Oil tankers pass through the Strait of Hormuz. (Reuters )
One needs to submit composite claims form along with bank details and IFSC code for PF account transfer. (Photo: iStock)
Greenko Energy Holdings raised $950 million on Monday
A sharp drop in moped volumes dragged sales, mirroring the weak rural sentiment (Mint file)
A sharp drop in moped volumes dragged sales, mirroring the weak rural sentiment (Mint file)

TVS Motors braves slowdown in Q1, but uncertainty in sales loom ahead

  • TVS Motor’s 7.2% year-on-year growth in Q1FY20 net sales to 4,468.6 crore is impressive
  • While the management is confident of some revival in the festive season, it is also said that the second half FY20 would be less impressive than the year-ago period

Amara Raja's net sales of  ₹1,815 crore, a fraction higher than the year-ago period, was about 6% higher than the average estimate of 12 brokers on Bloomberg (HT file)
Amara Raja's net sales of 1,815 crore, a fraction higher than the year-ago period, was about 6% higher than the average estimate of 12 brokers on Bloomberg (HT file)

Will changing dynamics crimp Amara Raja’s earnings growth?

  • There are also challenges in the near term, with a price war on in the replacement market for auto batteries
  • Exide and Amara Raja will have to fight for a larger share of the replacement market, when the original equipment segment is dull

Payment Bank cannot accept deposits higher than  ₹1 lakh. (Photo: Mint)
File photo of Warren Buffett, CEO of Berkshire Hathaway Inc
File photo of Warren Buffett, CEO of Berkshire Hathaway Inc

Buffett’s lunch with crypto investor, who paid $4.5 million, postponed

  • Justin Sun bid a record $4.57 million this year to win the chance to dine with Buffett
  • Sun, who launched Tronix in 2017, said in June that he was hoping to educate Buffett on the benefits of crypto and the underlying technology, blockchain

The central government has decided to fix MSPs at least 150% of the cost of production for all kharif crops for 2018-19. Photo: Bloomberg
The central government has decided to fix MSPs at least 150% of the cost of production for all kharif crops for 2018-19. Photo: Bloomberg

Weak kharif season ups earnings challenges for agrochemical companies

  • Insufficient rainfall in several parts of the country has delayed sowing, which was down 6.8% as of last week, as compared to this time last year
  • A monsoon failure can accentuate earnings challenges for agricultural input providers, notably Rallis India and Dhanuka Agritech

Mukesh Bansal, co-founder and chief executive, CureFit. (Photo: Mint)
In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available. (Photo: Pradeep Gaur/Mint)
In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available. (Photo: Pradeep Gaur/Mint)

Lack of 5G spectrum for commercial use may push up auction prices

  • Of 300MHz, Isro and defence department have sought 100 and 25MHz, respectively
  • In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available

The decision comes despite the slew of defaults by IL&FS group, which has more than  ₹90,000 crore in debt. (Photo: Aniruddha Chowdhury/Mint)
ITR filing for AY 2019-20: Tax experts say that you should verify the pre-filled ITR forms before submitting it
Flats under the DDA Housing Scheme 2019 will be allotted through a computerised draw based on random number technique. (iStock)
Karnataka chief minister H.D. Kumaraswamy (left) and BJP state president B.S. Yeddyurappa during the assembly session at Vidhana Soudha, in Bengaluru on Monday. (PTI)
Karnataka chief minister H.D. Kumaraswamy (left) and BJP state president B.S. Yeddyurappa during the assembly session at Vidhana Soudha, in Bengaluru on Monday. (PTI)

Coalition survives to fight another day in Karnataka

  • Govt says trust vote can be held after SC provides clarity over issuance of a party whip
  • The Congress-JD(S) coalition tally in the assembly stands at 100, excluding the speaker

Isro chairman K. Sivan. (PTI )
Iran-owned tankers continue to haul shipments to bonded tanks.
Iran-owned tankers continue to haul shipments to bonded tanks.

Millions of barrels of Iranian oil piled up at China’s ports

  • A bulk of Iranian oil in China’s bonded tanks is owned by Tehran and therefore not in breach of the sanctions
  • The store of oil has the potential to push down global prices if Chinese refiners decide to draw on it

Edwin Aldrin on the Moon. Nasa will now send a woman to its surface.
Edwin Aldrin on the Moon. Nasa will now send a woman to its surface.

Nasa plans to put first woman on Moon by 2024

  • Nasa preparing to take its next giant leap with the ambitious Artemis programme
  • Artemis is named after the twin sister of Apollo who is also the goddess of the Moon and the hunt

Information and broadcasting minister Prakash Javadekar presented the report card. vipin kumar/ ht
Salt Skin founder Deviana Gupta believes swimming helps bring clarity to the mind.
Salt Skin founder Deviana Gupta believes swimming helps bring clarity to the mind.

This entrepreneur hits the swimming pool to unwind

  • Salt Skin founder Deviana Gupta understands the importance of leading an active life, and the impact is has on work
  • The Salt Skin team is active even while in office. Instead of being hunched over their desks all the time, they take their meetings outdoors when possible

Juventus' Cristiano Ronaldo celebrates after scoring a goal during the International Champions Cup soccer match between Juventus and Tottenham Hotspur in Singapore,  (Photo: AP)
Juventus' Cristiano Ronaldo celebrates after scoring a goal during the International Champions Cup soccer match between Juventus and Tottenham Hotspur in Singapore, (Photo: AP)

Cristiano Ronaldo won't face Vegas rape charge

  • Ronaldo's attorney, Peter Christiansen, wasn't immediately available to comment
  • Prosecutor Steve Wolfson said in a statement Monday that after reviewing a new police investigation, he determined that sexual assault claims can't be proven beyond a reasonable doubt and no charge will be filed

A file photo of Nissan’s Altima sedan. Profits are at a decade low and the carmaker is struggling in the US. (Photo: Bloomberg)
A file photo of Nissan’s Altima sedan. Profits are at a decade low and the carmaker is struggling in the US. (Photo: Bloomberg)

Nissan bets that the boring sedan will be the next big thing for new generation

  • The sedan might be the right car for the eco-conscious driver, says Nissan’s chief of product planning Espinosa
  • Over the past few decades, the auto industry, especially in North America, has been ditching four- and two-door passenger cars in favour of bigger vehicles

 (Photo: Mint)
JPMorgan said it is not exiting its NBFC business in India. (Photo: Mint)
JPMorgan said it is not exiting its NBFC business in India. (Photo: Mint)

JPMorgan shuts one of its NBFCs in India, surrenders licence

  • Responding to an RTI query, RBI said 45 companies have surrendered their NBFC licences so far in 2019
  • Incorporated on 27 June 1996, the company is a subsidiary of JPMorgan Special Situations (Mauritius) Ltd and part of the JPMorgan Chase Group

THE introduction in China of a Nasdaq-style index pulled investment away from existing indices (Photo: Bloomberg)
 (Photo: Mint)
Kerala chief minister Pinarayi Vijayan (Mint file)
Kerala chief minister Pinarayi Vijayan (Mint file)

Congress workers, police clash during anti-govt protests in Kerala

  • Youth Congress workers were staging a march in support of the ongoing week-long hunger strike by the Kerala Student's Union against the ruling Left government
  • The police used stun grenades and tear gas against protestors, injuring at least 20 police officers and activists, according to reports

 (Jayachandran/Mint)
With a sex ratio of 833, Haryana continues to carry the ignominy of being the most unfair to the girl child among the surveyed states.. Photo: HT