(Reuters)
The selling pressure mounted a day after Finance Minister Nirmala Sitharaman said FPIs should consider the option of structuring themselves as companies rather than trusts to avoid paying the increased surcharge announced in Union Budget for 2019-20 (Photo: Reuters)
The selling pressure mounted a day after Finance Minister Nirmala Sitharaman said FPIs should consider the option of structuring themselves as companies rather than trusts to avoid paying the increased surcharge announced in Union Budget for 2019-20 (Photo: Reuters)

Nifty, Sensex see heavy selloff amid weak results and no respite for FPIs

  • Sensex closed 560.45 points lower or 1.44% at 38,337 while Nifty 50 shed 177.65 points or 1.53% to close at 11,419
  • Auto stocks were the worst sufferers as indices levelled at their two-month low

Oyo founder Ritesh Agarwal.
Percentage of gross NPAs in Q1 climbed to 2.02% from 2.04% on a quarter-on-quarter basis (Mint file)
Percentage of gross NPAs in Q1 climbed to 2.02% from 2.04% on a quarter-on-quarter basis (Mint file)

Bandhan Bank Q1 profit beats Street, rises 45.5%

  • The bank posted a net profit at 701.14 crore for the quarter ended 30 June, against 481.71 crore in the year-ago period
  • Net interest income for the quarter increased 35.98% to 1,410.38 crore, against 1,037.17 crore in the same quarter last year

The Nifty mid-cap gauge closed 2018 with a decline of 15%. (Photo: Hemant Mishra/Mint)
The Nifty mid-cap gauge closed 2018 with a decline of 15%. (Photo: Hemant Mishra/Mint)

Small-cap misery seen ending in India, thanks to RBI rate cuts

  • The valuation of the Nifty MidCap 100 Index is near the cheapest since 2012
  • Smaller companies underperformed during the sell-off that roiled India and other emerging nations last year

Jio had reported a profit of  ₹840 crore for the March quarter on an operating revenue of  ₹11,100 crore (Mint file)
Lenders have been trying to sell Jet Airways as a going concern for the past five months (Reuters file)
Lenders have been trying to sell Jet Airways as a going concern for the past five months (Reuters file)

Jet Airways lenders vote on proposals for resolution under IBC

  • Resolutions up for vote include a $10-million interim fund infusion into the airline, eligibility criteria for potential bidders and appointment of consultants for valuation of the company’s assets
  • Jet Airways has not flown since 18 April because of funding woes

The toll fare is directly deducted from the bank account linked to FASTag (Mint file)
The toll fare is directly deducted from the bank account linked to FASTag (Mint file)

FASTags to be made mandatory by 1 December, says road ministry

  • FASTag is an electronic toll connection device installed in the vehicle to help drivers to drive through toll plazas without having to stop
  • The move is part of the government’s plan to promote digital payments at toll plazas and decongest national highways

RIL had announced its FTTH service JioGigaFiber plans last year at the company's AGM. Photo: Reuters

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Long Reads
A file photo of former India cricket captain Mahendra Singh Dhoni. (Alamy)

Dhoni’s dilemma: Mahi way or highway

8 min read . 12:11 AM IST
Prime Minister Narendra Modi during his interaction with secretaries to the government this month. (Twitter@narendramodi)

The plan to reform India’s babudom

8 min read . 18 Jul 2019
If Boris Johnson becomes PM, he will assume leadership at a time when the old model of leadership in the UK lies exposed and a new one is yet to be born (Photo: Getty Images)

Boris Johnson: An unsuitable boy

11 min read . 16 Jul 2019
Richard Branson, president, Virgin Atlantic (Photo: Mint)

Business dreams powering a lunar race

9 min read . 16 Jul 2019
Reliance Jio has witnessed a continuous drop in its average monthly billings over the past five quarters Photo: Mint
Reliance Jio has witnessed a continuous drop in its average monthly billings over the past five quarters Photo: Mint

What to expect from Reliance Jio’s Q1 earnings

  • Reliance Industries will announce its financial results for April-June quarter today
  • Reliance Jio had posted a profit of 8.4 billion for the March quarter

ITR Filing
Shares of Vodafone Idea fell 5.4% on Thursday. Photo: Reuters
Plain Facts
Suzlon did sell its German subsidiary Senvion S.A. in 2015 and refocused its energies on the Indian market. (Photo: Bloomberg)
Suzlon did sell its German subsidiary Senvion S.A. in 2015 and refocused its energies on the Indian market. (Photo: Bloomberg)

How wind market disruption drove Suzlon to financial ruin

  • Quantum of capacity additions and the pace of recovery is too slow for Suzlon’s comfort
  • Suzlon began missing payment obligations after a steep fall in volumes began eroding its revenues and earnings

With millions of phones shipping to India every year, people are buying a new phone almost every year, some even in six months
Sebi chairman Ajay Tyagi. (MINT)
Photo: iStock
The domestic FMCG business for the company reported a volume growth of 9.6% during the quarter. Photo: Ramesh Pathania/Mint
The domestic FMCG business for the company reported a volume growth of 9.6% during the quarter. Photo: Ramesh Pathania/Mint

Dabur India Q1 net profit up by 10.3%

  • Dabur’s performance across sectors remained stable
  • Dabur’s health supplements business registered a 19.6% growth during the quarter

A file photo of Arvind Subramanian, former chief economic adviser to the finance ministry
Provisions during the quarter increased 51.89% to  ₹213.18 crore, from  ₹140.35 crore in the year-ago quarter (Mint file)
Provisions during the quarter increased 51.89% to 213.18 crore, from 140.35 crore in the year-ago quarter (Mint file)

RBL Bank Q1 net profit rises 40.5% to 267 crore

  • Net interest income increased 47.88% to 817.32 crore during the quarter, against a year ago
  • Gross NPAs, as a percentage of total advances, were at 1.38% in the June quarter, and 1.40% in the year-ago period

A file photo of a Mahindra Reva plant. India’s largest EV maker Mahindra has committed over  ₹1,000 crore to build manufacturing lines for EVs and powertrains in Maharashtra and Karnataka.
A file photo of a Mahindra Reva plant. India’s largest EV maker Mahindra has committed over 1,000 crore to build manufacturing lines for EVs and powertrains in Maharashtra and Karnataka.

Auto firms take cue from govt, gear up for future beyond petrol, diesel

  • Automakers move to tap emerging market on govt push to turn India into an EV manufacturing hub
  • Hyundai plans to set up a lithium-ion battery plant for its affordable EVs for the Indian market

 (Photo: Mint)
(Photo: Mint)

IndiGo crisis: What is at stake?

  • The shareholder dispute could dent investor confidence, delay decision making on key issues and invite avoidable regulatory attention
  • The shareholder spat has come out at a time IndiGo needs to focus attention on making gains in a market that has suffered the demise of Jet Airways

Bollywood star Salman Khan (Mint file)
Bollywood star Salman Khan (Mint file)

Salman Khan to endorse Somany Ceramics

  • The brand campaign with Khan will come with the tag line ‘Zameen se Judey’ and revolve around the idea, ‘no matter how high you soar or how successful you are, you should always remain grounded’
  • The company is planning aggressive expansion across the country

Dabur India's new chairman Amit Burman. (Pradeep Gaur/Mint)
The Netflix logo is seen on their office in Hollywood, Los Angeles, California. (Reuters)
The Netflix logo is seen on their office in Hollywood, Los Angeles, California. (Reuters)

Netflix's challenge in India: Cheaper rivals

  • The intense competition could derail Chief Executive Officer Reed Hastings’s goal of 100 million customers in India
  • The world’s second-most populous country is a priority for the streaming service, which is effectively blocked in China

 (Bloomberg)
The development is expected to ease the ongoing investigation and the effort to return the money of thousands of investors.
The development is expected to ease the ongoing investigation and the effort to return the money of thousands of investors.

Bengaluru ponzi scam prime accused arrested

  • Khan, who is accused of perpetrating financial fraud worth crores in Bengaluru, was absconding for a month
  • Khan was arrested from Delhi airport where arrived from Dubai

The study published in the journal 'Behaviour and Information Technology'. Photo: Bloomberg
The study published in the journal 'Behaviour and Information Technology'. Photo: Bloomberg

Is your Facebook profile making you depressed?

  • Most people use Facebook to share the best glimpses of their lives
  • However, studies have claimed that self-esteem takes a hit as it seems that everyone is better than them

This image released by Disney shows the character Mufasa, voiced by James Earl Jones in a scene from
This image released by Disney shows the character Mufasa, voiced by James Earl Jones in a scene from "The Lion King," directed by Jon Favreau (AP)

Friday Film Wrap: ‘The Lion King’ big release of the week

  • 'The Lion King' is Disney’s latest effort in its quest to remake many of its animated classics. What is new is this film’s striking CGI animation style
  • Several releases this week haven’t inspired any reviews yet

Twitter has been testing the new design for about a year now (Reuters file)
Twitter has been testing the new design for about a year now (Reuters file)

Twitter’s desktop redesign takes cues from its mobile app

  • As part of the new change, the navigation bar has been moved to the left of the screen and users with multiple accounts can switch from one to the other from there
  • Twitter is also adding the Explore option from the mobile app, which allows one to browse through trending hashtags and topics

The government has started implementing initiatives for faster adoption of EVs. (Pradeep Gaur/Mint )
Prime Video penetration is 15% as compared to 13% of Netflix. (Photo: Indranil Bhoumik/Mint)
In recent years, the popularity of Netflix has been a chief reason for the accelerated drop in cable subscriptions and viewers tuning out traditional live TV. (Photo: AP)
In recent years, the popularity of Netflix has been a chief reason for the accelerated drop in cable subscriptions and viewers tuning out traditional live TV. (Photo: AP)

Netflix, welcome to ratings hell

With last quarter’s weak showing, the video-streaming service gets to experience what the media giants went through

FaceApp is displayed on an iPhone. (AP)
FaceApp is displayed on an iPhone. (AP)

FaceApp sparks worry over privacy of photos

  • Some users fear that FaceApp's access to photos on their smartphones is a giveaway of privacy and personal information
  • While the app does not state that it downloads the photo, it is not unusual for a company to do so, according to a report

The curriculum judiciously blends courses from business functions, performance analytics and transformation technologies. (Photo: PTI)
The curriculum judiciously blends courses from business functions, performance analytics and transformation technologies. (Photo: PTI)

IIT Madras to offer tech MBA programme for undergraduates

  • Students taking tech MBA programme will be awarded two degrees
  • The programme aims to impart business acumen to engineering students

The stock was cut to neutral from buy at Phillip Securities and cut to add from buy at Centrum Broking. (Photo: iStock)
Boeing warned that the timing of a return to service could change. Photo: Bloomberg
Pragmatic approach: Finance Minister Nirmala Sitharaman with finance ministry officials.
Pragmatic approach: Finance Minister Nirmala Sitharaman with finance ministry officials.

Budget: A mixed bag for individual taxpayers

  • Budget proposes an additional deduction of up to Rs1.5 lakh for interest paid on loans for purchase of an affordable house
  • The proposal to exempt entire lump sum withdrawal of NPS is intended to enable pensioners to have more disposable funds to meet their immediate needs post retirement

After a slowdown of eight years, occupancy rates in the industry moved up by three percentage points to 69% in FY2019 from the year-ago period, according to ICRA (Mint file)
After a slowdown of eight years, occupancy rates in the industry moved up by three percentage points to 69% in FY2019 from the year-ago period, according to ICRA (Mint file)

Will hotels lose pricing power amid the gloom in the economy?

  • Foreign tourist arrivals grew by a mere 1.8% during January-May, according to data from the Ministry of Tourism
  • Weak foreign tourist arrivals and a fall in domestic travel will take their toll on the hotel industry's Q1FY20 performance

Businesses face two challenges in making fresh investments: one is the high-interest costs that they incur despite RBI slashing its benchmark interest rate three times by 25 bps so far this year, and the other is the high interest rates on small savings schemes that keep funds away from banks. (Photo: Pradeep Gaur/Mint)
Businesses face two challenges in making fresh investments: one is the high-interest costs that they incur despite RBI slashing its benchmark interest rate three times by 25 bps so far this year, and the other is the high interest rates on small savings schemes that keep funds away from banks. (Photo: Pradeep Gaur/Mint)

Tweaks in Companies Act to make fundraising easier

  • Move will be of interest to startups keen to raise capital without diluting their stake
  • Challenges businesses face in making fresh investments include high interest costs

MG Motor currently produces 2,000 units of the Hector a month. The SUV has received 21,000 bookings since its 4 June launch. (Photo: Mint)
MG Motor currently produces 2,000 units of the Hector a month. The SUV has received 21,000 bookings since its 4 June launch. (Photo: Mint)

MG Motor, unable to keep up with demand, halts Hector bookings

  • Top two variants of Hector—Smart and Sharp—were in high demand, with over 50% reservations for petrol variants
  • According to the company, the top two variants – Smart & Sharp – have registered the highest demand, with over 50% reservations for the petrol variants

Suzlon has an installed wind turbine base of over 15GW, with about 12GW in India and 3GW in overseas markets. (Photo: Reuters)
The Shahid Kapoor-starrer ‘Kabir Singh’ is currently the ninth highest grossing Hindi film of all time.
Price starts at  ₹1,99,990

Before filing your tax returns this year, calculate and pay self-assessed tax

  • Taxpayers are required to pay tax on the consolidated income from all the five sources of income—income from salary, business and profession, house property, capital gains and other sources
  • Tax can be paid either offline at designated branches of banks empanelled with the I-T department, by filling up challan 280 or online through Incometaxindia.gov.in

In the  TikTok video, which went viral on the social media on Thursday, Furqan Ahmed is seen sitting on the bonnet of an official car,
In the TikTok video, which went viral on the social media on Thursday, Furqan Ahmed is seen sitting on the bonnet of an official car,

TikTok video has Telangana home minister's kin in soup

  • The vehicle on which the TikTok video was shot was part of the Telangana home minister's convoy
  • The incident has come close on the heels of some government employees in Khammam district making TikTok videos and uploading them

Several restaurants in Maharashtra have already implemented the half glass water policy to conserve water. (iStock)
Several restaurants in Maharashtra have already implemented the half glass water policy to conserve water. (iStock)

Water crisis: The glass will now be half empty in Uttar Pradesh Assembly

  • Half-filled glasses of water will be served in all offices and canteens of the UP Assembly
  • The order would increase the work pressure on fourth class employees, especially during summer months

On MCX, August gold futures have surged above  ₹35,400.
For FDs maturing in seven days to 90 days, IDFC First Bank offers 6.5% interest rate.
Netflix was drawn into a legal battle last year after a complaint that its first Indian original series ‘Sacred Games’ insulted former prime minister and Congress leader Rajiv Gandhi. (Reuters)
Netflix was drawn into a legal battle last year after a complaint that its first Indian original series ‘Sacred Games’ insulted former prime minister and Congress leader Rajiv Gandhi. (Reuters)

Should Netflix be censored? Govt to decide soon

  • The government will take a decision on censoring OTT platforms like Netflix after consultation with stakeholders
  • New concerns are being raised on films being shown on Netflix, Minister Prakash Javadekar said

The tower is scheduled to be completed in the spring of 2020. Photo: Merrick Architecture
The tower is scheduled to be completed in the spring of 2020. Photo: Merrick Architecture

Apple plans to open office in Vancouver's new 'futuristic' tower. Take a look

  • Apple's new office is a 'futuristic' 24-story office building — rotating stack of enormous glassy cubes said to be inspired by a Japanese paper lantern
  • Apple will join Deloitte LLP and IWG Plc’s Spaces co-working unit as key tenants in 400 West Georgia

Former RBI governor Raghuram Rajan. (Abhijit Bhatlekar/Mint)
India has become one of the top renewable producers globally with ambitious capacity expansion plans. (Photo: Getty Images)
A file photo of Sachin Tendulkar (Photo: Reuters)
A file photo of Sachin Tendulkar (Photo: Reuters)

Sachin Tendulkar, Allan Donald inducted into ICC Hall of Fame

  • Sachin Tendulkar became the 6th Indian to be inducted into the ICC Hall of Fame
  • The previous Indian bigwigs into the ICC Hall of Fame are Sunil Gavaskar, Bishan Singh Bedi, Kapil Dev, Anil Kumble and Rahul Dravid

A file photo of former India cricket captain Mahendra Singh Dhoni. (Alamy)
A file photo of former India cricket captain Mahendra Singh Dhoni. (Alamy)

Dhoni’s dilemma: Mahi way or highway

  • The cool, calculated thinker in Dhoni faces his greatest challenge: planning a good exit. What are his options?
  • Some people close to Dhoni say he does have plans for the future, but cricket doesn’t feature too high among them. They don’t rule out cricket completely, though

The bridge financing raised by PCR Investments, which has a 19.57% stake in Apollo, has a repayment period of 91 days. (Photo: Priyanka Parashar/Mint)
The bridge financing raised by PCR Investments, which has a 19.57% stake in Apollo, has a repayment period of 91 days. (Photo: Priyanka Parashar/Mint)

Hospital chain Apollo’s parent raises 1,000 cr

  • The promoters have raised funds from Credit Suisse to meet debt repayment obligations of the promoter group
  • According to a recent credit rating report by Brickworks, PCR Investments has a total debt of 689 crore due for redemption this calendar year

In this May 1, 2019, photo provided by the U.S. Navy, the amphibious assault ship USS Boxer (LHD 4) transits the San Diego Bay in San Diego, Calif. President Donald Trump says the USS Boxer destroyed an Iranian drone in the Strait of Hormuz amid heightened tensions between the two countries. Trump says it's the latest
In this May 1, 2019, photo provided by the U.S. Navy, the amphibious assault ship USS Boxer (LHD 4) transits the San Diego Bay in San Diego, Calif. President Donald Trump says the USS Boxer destroyed an Iranian drone in the Strait of Hormuz amid heightened tensions between the two countries. Trump says it's the latest "hostile" action by Iran. (AP )

Donald Trump says US Navy 'destroyed' Iranian drone in Strait of Hormuz

  • Tensions in the Gulf region are high, with fears that the United States and Iran could stumble into war
  • The United States has blamed Iran for a series of attacks since mid-May on shipping around the Strait of Hormuz

Increased political will, financial resources and research to develop new ways to treat and prevent TB will help achieve India’s goal of ending the epidemic by 2025. Pradeep Gaur/Mint
Increased political will, financial resources and research to develop new ways to treat and prevent TB will help achieve India’s goal of ending the epidemic by 2025. Pradeep Gaur/Mint

Mutations in tuberculosis bacteria make it resistant to drugs, say researchers

  • genetic variations identified in clinical strains from North India could be resistant to drugs
  • India accounts for 24% of global MDR TB and 27% of global TB incidence among HIV-negative people