Azim Premji’s principled approach towards norms and ethics, and attention to detail, transformed Western India Vegetable Products into Wipro, one of India’s top software exporters (Photo: Mint)
Azim Premji’s principled approach towards norms and ethics, and attention to detail, transformed Western India Vegetable Products into Wipro, one of India’s top software exporters (Photo: Mint)

Best yet to come, says Azim Premji at last AGM as Wipro chief

  • The mood at Wipro’s 73rd AGM was sombre. But Premji went about the proceedings clinically
  • Premji will pass the baton over to his son Rishad in July-end after leading the charge at the company for over five decades

Fuel retailers are looking to pass on the higher cost of producing BS VI-compliant fuel to customers (Photo: Ramesh Pathania/Mint)
Long Reads
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
Then CEO and MD of Ranbaxy Malvinder Mohan Singh (left) with then president and CEO of Daiichi Sankyo Takashi Shoda during the merger announcement in June 2008 (Photo: AFP)

How Ranbaxy hurtled towards a meltdown

11 min read . 11 Jul 2019
Inside ByteDance headquarters in Beijing (Photo: Bloomberg)
Fire brigade, NDRF personnel, and rescue workers recover a body after a building collapsed at Dongri in Mumbai on Tuesday (Photo: ANI)
Fire brigade, NDRF personnel, and rescue workers recover a body after a building collapsed at Dongri in Mumbai on Tuesday (Photo: ANI)

Mumbai building collapse live updates: 11 dead, 40 trapped in Dongri

  • The building was more than a century old and had 10 families living inside despite its dilapidated condition
  • Prime Minister Narendra Modi tweeted his condolences to the victims' families, describing the incident as 'anguishing'

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ITR Filing
Plain Facts
The outstanding payment was part of a total bond issuance of $546.91 million. (Photo: Bloomberg)
The outstanding payment was part of a total bond issuance of $546.91 million. (Photo: Bloomberg)

Suzlon defaults on bond payments worth $172 million

  • The outstanding payment was part of a total bond issuance of $546.91 million, the company said in a filing to stock exchanges
  • On 11 July, Bloomberg reported that Canadian asset manager Brookfield Asset Management Inc. is planning an offer for a majority stake in Suzlon

RBI’s monetary policy committee will meet from 6-7 August (Photo: Ramesh Pathania/Mint)
Passenger vehicle manufacturers, in anticipation of continued decline in demand, reduced dispatches by double digits in every segment in June. (Photo: Pradeep Gaur/Mint)
Passenger vehicle manufacturers, in anticipation of continued decline in demand, reduced dispatches by double digits in every segment in June. (Photo: Pradeep Gaur/Mint)

Retail auto sales continue in slow lane in Jun, decline 5.4%

  • Showroom sales of passenger vehicles declined 4.6% year-on-year to 224,755 units
  • Consumer sentiment remains subdued due to an overall slowdown in the economy

S.N. Subrahmanyan, CEO and managing director of L&T. (Photo: Aniruddha Chowdhury/Mint)
Work on the long-pending project had started in October, after MoEF issued the final clearance in May 2017 (Photo: Aniruddha Chowdhury/Mint)
(Photo: AFP)
For every empty seat in a plane, an airline takes a hit on its profitability or what is called the ‘yield’.
Flood affected villagers travel on boats in Burha Burhi village, east of Gauhati, Assam. (AP )
Flood affected villagers travel on boats in Burha Burhi village, east of Gauhati, Assam. (AP )

Toll rises to 36 as floods worsen in Bihar, Assam

  • 25 people have been killed in Bihar with over 16 districts facing a severe deluge. In Assam, the death toll rose to 14
  • In Assam, road connectivity across various districts has been disrupted

The reaction to the surcharge increase has been mixed. (iStock)
Air India, which is surviving on a  ₹30,000 crore taxpayer-funded bailout, has failed to maintain its dominance in Indian skies. (Photo: Reuters)
Air India, which is surviving on a 30,000 crore taxpayer-funded bailout, has failed to maintain its dominance in Indian skies. (Photo: Reuters)

Government to invite expressions of interest for Air India by August

  • Govt will conduct road shows and is open to meet prospective buyers before the expressions of interest are sought
  • The plan is being prepared after the government’s attempt to partially exit the carrier failed to attract any bidder last year

DHFL was in talks to sell its retail and wholesale loan portfolio and was in the final stages of completing a deal. (Reuters )
DHFL was in talks to sell its retail and wholesale loan portfolio and was in the final stages of completing a deal. (Reuters )

Lenders to DHFL ready for haircut in rescue

  • Any rescue package will require regulatory approvals and needs the backing from debtholders
  • DHFL's plight underscores growing financial sector stress as state banks grapple with nearly $150 billion of bad debt

Rakesh Gangwal (File photo: HT)
istockphoto
Indus Towers’ plans come at a time the Union government is aggressively looking to increase the sale of EVs (Photo: Pradeep Gaur/Mint)
Indus Towers’ plans come at a time the Union government is aggressively looking to increase the sale of EVs (Photo: Pradeep Gaur/Mint)

Indus plans to host EV charging units across its vast network of telecom towers

  • The move will let Indus secure a unique revenue stream outside the traditional model of renting towers to phone firms
  • The move will allow the company to secure a unique revenue stream outside the traditional model of renting out its towers to mobile phone operators

Jet Airways has not flown since 18 April because of funding woes. (Photo: Mint)
Improving subsidy delivery and schemes for financial inclusion are very effective ways of addressing income inequality. Taxation is just one of the several instruments. (Mint )
Improving subsidy delivery and schemes for financial inclusion are very effective ways of addressing income inequality. Taxation is just one of the several instruments. (Mint )

Progressive taxation will help bring down income inequality

  • The govt’s focus on rationalizing corporate tax rate is the need of the hour for Indian economy
  • In a dynamic economy, some sectors may need to be incentivised.

Photo: iStock
Simultaneously, you can also make your Will whereby you can bequeath the remaining 75% undivided right, title and interest in the property in favour of your friend. (Priyanka Parashar/Mint)
Simultaneously, you can also make your Will whereby you can bequeath the remaining 75% undivided right, title and interest in the property in favour of your friend. (Priyanka Parashar/Mint)

You can transfer right of undivided house

  • You can transfer a certain percentage, say, 25% undivided right, title and interest in the property in favour of your friend by way of a gift
  • This will safeguard your interest of protecting the property from your relatives

(Photo: ANI)
Budget proposals to enhance statutory limit of FPI investments up to FDI sectoral norms are well intended. (PTI)
Party leaders are also wary of the crisis facing the central leadership, which they say may make matters worse in other states, too. (Burhaan Kinu/HT)
Party leaders are also wary of the crisis facing the central leadership, which they say may make matters worse in other states, too. (Burhaan Kinu/HT)

In downward spiral, Congress faces crises across states

  • Party faces defections, turf wars across Karnataka, Goa, Telangana, Delhi and Punjab
  • The crisis since Rahul Gandhi’s resignation began with 12 of its 19 Telangana MLAs merging with the TRS

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

After the restrictions were lifted, SpiceJet’s Jaipur-Dubai flight flew over Pakistani airspace on Tuesday
Photo: HT
Photo: HT

Opinion | The 1969 bank nationalization did India more harm than good

It was the pivot of a political economy strategy of the 1970s—when economic growth barely outpaced population growth

R. Roshan Baig (centre) is among the 16 legislators from the coalition who have submitted their resignations as MLAs (Photo: HT)
R. Roshan Baig (centre) is among the 16 legislators from the coalition who have submitted their resignations as MLAs (Photo: HT)

Karnataka govt using IMA Jewels case to coerce me: Roshan Baig tells HC

  • Shivajinagar Cong legislator says the Kumarawamy-led govt is using case to coerce him into supporting the ruling coalition
  • Baig and Congress minister B.Z. Zameer Ahmed Khan are among scores of people being questioned by SIT for their alleged involvement in the scam

Andhra Pradesh chief minister Y. S. Jagan Mohan Reddy-led government said that it will review all the power agreements which were done over the last five years.
Andhra Pradesh chief minister Y. S. Jagan Mohan Reddy-led government said that it will review all the power agreements which were done over the last five years.

Andhra Pradesh to go ahead with review of PPAs in spite of Centre’s warning

  • YSR Congress Party government said that the existing PPAs will put a 'burden of thousands of crores' on the state annually otherwise
  • The state govt will review all the power agreements which were done over the last five years, when TDP was in power

The Essar Steel case pertains to a 10-million tonne per annum steel mill in Gujarat, which became insolvent in August 2017, with dues of more than  ₹54,000 crore. (Photo: AP)
The Essar Steel case pertains to a 10-million tonne per annum steel mill in Gujarat, which became insolvent in August 2017, with dues of more than 54,000 crore. (Photo: AP)

Lenders to Essar Steel move Supreme Court against NCLAT ruling

  • NCLAT had ruled that lenders and operational creditors would get 60.7% of their outstanding claims
  • Essar Steel’s financial creditors are primarily state-run banks, while its operational creditors are vendors and suppliers

Kunal Bahl, chief executive officer of Snapdeal. (Photo: Mint)
The addressable market for recreational genetic tests is 500,000, according to the Indian Council of Medical Research.  (Bloomberg)
Oyo pegs co-working spaces to be a $20 billion business opportunity in India by 2020.
Telangana Congress chief Uttam Kumar Reddy.
Photo: Mint
Adani is also issuing new bonds of at least $650 mn, the proceeds of which will be used for buyback of the bonds due in 2020. (AFP)
 (Photo: Ramesh Pathania/Mint)
(Photo: Ramesh Pathania/Mint)

Opinion | Why is government trying to kill off hedge funds?

So much of private wealth is trapped in gold that any more will be a colossal social waste

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)
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

Britain will be taken even less seriously when the front-runner Tory MP steps into 10 Downing Street next week

Photo: ANI
Raj Khosla, founder and MD, MyMoneyMantra.
The character Daenerys Targaryen is seen on an advertisement screen before the screening of the final episode of Game of Thrones on a 20-meter-high screen at RZD Arena in Moscow.  (Reuters )
The character Daenerys Targaryen is seen on an advertisement screen before the screening of the final episode of Game of Thrones on a 20-meter-high screen at RZD Arena in Moscow. (Reuters )

'Game of Thrones' breaks record with 32 Emmy nominations

  • HBO claimed 137 nods to Netflix's 117 -- a record for each, meaning the pair tighten their joint stranglehold on the prestigious awards
  • This year's nominations also saw HBO reclaim its title for most-nominated network from web streaming giant Netflix

 Dealer inventory, too, rose from 45-50 days in May to 60-65 days in June. (Bloomberg)
Photo: Mint
Photo: Mint

Opinion | We should not be crying wolf over dollar sovereign bonds

Even if we assume a falling rupee, there is no reason why some risk cannot be taken on such bonds

The logo of German corporation ThyssenKrupp.  (AFP)
The logo of German corporation ThyssenKrupp. (AFP)

ThyssenKrupp to create Indian supply hub for engineering business

  • The German industrial group embarked on a major restructuring programme after a failed merger of its steel unit in May with India's Tata Steel's European business
  • India currently contributes one-fifth of ThyssenKrupp's industrial solutions business and one-fourth of its workforce

For the July-September, General Provident Fund and other similar funds will pay 7.9%
The logo of TikTok application is seen on a mobile phone screen.  (Reuters )
The logo of TikTok application is seen on a mobile phone screen. (Reuters )

Is Facebook launching new TikTok competitor?

  • Facebook's NPE team is aimed at developing experimental apps for consumers who are still slightly removed from the core Facebook brand
  • The world's largest social media platform last week announced that it will begin to launch new consumer-focused apps

 (Paras Jain/Mint )
(Photo: AP)

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.