Tata Steel reports 84% fall in consolidated net profit for March quarter

• The company had reported a consolidated net profit of ₹14, 688 crore during the same period of the previous year
• During the March 2019 quarter, the company beat the Bloomberg estimate, which included prediction of a ₹2, 194.6 core profit by 12 analysts

Maruti to phase out all diesel cars from April next year

• Maruti Suzuki garners nearly 23% of its annual sales from diesel cars
• The carmaker also today announced a hike in prices of some of its models

Axis Bank back in the black with ₹1,505 crore profit in Q4

• The rise in profit was aided by a fall in total provisions, which more than halved on a year-on-year basis to ₹2,711.4 crore in Q4
• The bank saw slippages of ₹3,012 crore in Q4 FY19, down 81.7% y-o-y and down 19.5% sequentially

Microsoft surpasses $1 trillion valuation

• Shares climbed about 4.8% before the market open, setting up Microsoft to regain the title of largest US stock
• UBS said Microsoft results suggested that 'there’s lots more opportunity ahead'

Maruti Q4 net dips to ₹1,795 crore, sees weak year ahead

• Maruti's board recommended dividend of ₹80 per share
• Net sales increased marginally to ₹20,737 crore

UltraTech Q4 results beat ACC’s hands down, but so do valuations

• The positives accruing from UltraTech Q4 results have been factored in its valuation, limiting a meaning upside from current levels
• Unless cement prices rise meaningfully and hold ground, valuations of most cement stocks, including UltraTech, look expensive

CEO Ravneet Gill planning to replace entire top management of Yes Bank

• CEO Ravneet Gill is looking to replace the entire top management of Yes Bank, including some of ousted founder Rana Kapoor's trusted aides
• In a span of two weeks, at least 14 top executives of Yes Bank have been listed for a potential replacement, a move unprecedented in India’s banking industry

Homeowners turn amateur property developers to finish incomplete projects

• India’s property market is struggling to digest some $65 billion worth of projects in various stages of completion
• Real estate and associated businesses account for the largest number of cases referred to India’s two-year-old bankruptcy process

Rupee weakens beyond 70 against dollar, may slide further: 5 things to know

• High oil prices and a stronger dollar weighed on the rupee
• Bullish bets on rupee seen receding: Reuters poll

The three questions facing India’s World Cup squad

• Is the middle-order brittle? Do those selections draw from past performance or are they inspired choices? How does this squad compare against previous ones?

Saffron Salaam in Mamata Banerjee's West Bengal

• Widespread anger over violence during panchayat polls has turned 2019 Lok Sabha elections into a referendum on TMC's rule
• The BJP’s strategy of whipping up Hindu religious pride in West Bengal, where 27% people are Muslims, seems to be paying off

Narendra Modi scripts a Bollywood twist with Akshay Kumar 'interview'

• PM Narendra Modi calls his hour-long 'interview' with Bollywood actor Akshay Kumar 'apolitical'
• Modi says he never dreamt of being the PM and that he isn't the disciplinarian he is made out to be

Tax officials to pose as customers to check profiteering

• NAA has asked field officers to make purchases from the market and investigate profiteering
• The idea is to scale up the anti-profiteering oversight on industry and trade as central and state governments have made several large tax cuts

Sebi orders pause on Leela-Brookfield deal after ITC, LIC complaints

• Hotel Leelaventures has struck a ₹3,950 crore deal with Canada's Brookfield Asset Management LLC to sell four of its hotel properties
• ITC has alleged that the Leela-Brookfield deal violated provisions of related-party transactions. LIC's objections could not be ascertained immediately

Vodafone Idea rights issue oversubscribed as promoters commit ₹18,250 crore

• The Vodafone Idea rights issue is one of the largest in recent times by any company
• The telecom operator also plans to raise up to ₹5,000 crore by monetizing its stake in Indus Towers

Jet Airways says will validate refund claims in 45 days

• Jet Airways has provided a web interface to travel agents to submit refund applications, claims can be submitted till 20 May
• Refunds for tickets bought through credit cards will be validated by Jet Airways and credit card companies each Monday

Facebook actively working on WhatsApp Pay in India

• WhatsApp Pay, stuck owing to India's demand to store data locally, has not gone beyond the beta testing
• Facebook CEO Mark Zuckerberg said it is running a test in India for WhatsApp Pay

Spotify loses access to songs from major Indian label Saregama

• Spotify Technology SA said it will remove all songs belonging to one of India's oldest record labels from its app after they failed to agree on licensing terms
• Saregama India Ltd filed a petition with the Delhi High Court seeking an injunction against Spotify to stop it from using its songs

Opinion | India’s secret stimulus is a bad sign

• What’s more concerning is the way in which the RBI is opening the floodgates to liquidity
• At one level, the RBI is simply being proactive

Facebook now has 2.38 billion users

• Facebook's daily active users were 1.56 billion on average for March 2019
• Facebook CEO Mark Zuckerberg says about 500 million people use Facebook Stories every day

India's data should be "stringently domiciled": Paytm's Vijay Shekhar Sharma

• If anyone wants to take the data, they should take it on a sample basis, Paytm founder Vijay Shekhar Sharma said
• Sharma said India should think about bringing the code here and running it

Congress fields Ajay Rai, not Priyanka Gandhi, from Varanasi to take on PM Modi

• The Congress announced Madhusudan Tiwari as the party's candidate from Gorakhpur
• The Congress had fielded Ajai Rai against Modi in 2014 as well. He finished third in the contest, after Modi and AAP's Arvind Kejriwal, according to PTI

SC bench orders probe into claims of conspiracy to frame CJI Gogoi

• A Supreme Court special bench is examining issues of judicial corruption and alleged attempts to frame Chief Justice of India Ranjan Gogoi in a sexual harassment case
• Advocate Utsav Bains, who filed the affidavit claiming conspiracy against Gogoi, alleged that he was asked to 'frame' the CJI

AAP releases manifesto, Delhi CM Kejriwal vows to fight for full statehood

• Delhi will vote on 12 May, in the ongoing Lok Sabha elections
• AAP has fielded seven candidates for the polls

Amazon's Alexa reviewers can access customers' home addresses

• An Amazon team auditing Alexa users’ commands transcribes, annotates and analyzes a portion of the voice recordings picked up by Alexa
• Although Amazon says the "access to internal tools is highly controlled," it is unclear how many workers have access to the system

Why are investors willing to forgive ICICI PruLife's weak FY19 performance?

• All the profitability metrics of ICICI Prudential Life Insurance held up. The value of its new business margin rose to 17% in FY19
• ICICI PruLife saw its business growth drop because it shifted its focus to small-ticket products a few quarters ago

Xiaomi's new e-bike has 120km range, ₹31,000 price tag

• The Xiaomi Himo T1 electric was launched in China on Wednesday
• It is powered by a 350W brushless permanent magnet motor and is backed by a 14,000mAh (14Ah) li-ion battery with a nominal voltage of 48V

Parle Agro in ₹200 crore marketing push for Frooti, Appy Fizz

• The summer campaign of Frooti, for the first time, features two big Bollywood celebrities — Alia Bhatt and Varun Dhawan
• Parle Agro has launched a ₹10 'pick me up' bottle through a television campaign featuring actor Salman Khan

Nirav Modi, Mehul Choksi's 13 luxury cars on auction

• The auction is being carried out on behalf of the Enforcement Directorate which had seized these vehicles from Nirav Modi and Mehul Choksi last year
• The vehicles include a silver Rolls Royce, a Porsche, a red Mercedes Benz, a white Mercedes Benz and a BMW

Amol Dighe appointed as CEO, Madison Media Ultra and Head Investments

• Amol Dighe has 22 years of experience across agency, client, broadcast and content companies
• He is well versed with all aspects of media

Hindustan Copper board approves raising up to ₹1,400 crore through QIP

• The Cabinet last year had approved a fresh equity issue of 15% by Hindustan Copper to help it raise over Rs900 crore
• Shares of the company dropped by 1.64% to settle at Rs47.95 on BSE

Samsung, P&G, J&J, other MNCs may not have passed on GST benefits

• Procter & Gamble allegedly did not pass on more than $35 million in tax benefits which were meant to have gone to its customers, according to authorities
• The authorities are also investigating Samsung Electronics and Johnson & Johnson among others

Rupee weakens seven week low as crude hits $75 per barrel

• Other Asian currencies also drifted lower against the US dollar
• The 10-year bond yield also inched higher

Microsoft becomes a trillion dollar company after impressive earnings

• Microsoft's "commercial cloud" revenue - which includes business use of Azure, Office 365 and LinkedIn - was $9.6 billion this quarter, up 41% from the previous year
• Microsoft's stock has gained about 23% gain so far this year

WeWork India, SpiceJet, CureFit, others offer jobs to Jet Airways employees

• WeWork, in a statement, said it will actively consider job applications from Jet employees for openings
• Jet Airways has shut down operations temporarily after lenders decided against extending emergency funds for its survival

Maruti hikes prices of Baleno diesel range, Baleno RS petrol

• Maruti has increased the price of Baleno RS model from ₹8.76 lakh to ₹8.88 lakh
• Baleno is the highest selling premium hatchback in the domestic market

Army offering jobs in military police to women for the first time

• The application window for recruitment of soldier general duty (Women Military Police) will close on 8 June
• This is the first such call for women to join the Corps of Military Police

Tesla hit with big loss as car deliveries sputter

• Tesla reported a loss of $702 million in the first three months of this year after two consecutive quarters of profit.
• Tesla produced about 63,000 Model 3 vehicles in the period, an increase of 3% from the same quarter a year earlier

Subramanian Swamy beats PM Modi to become most interactive politician on Twitter

• The ranking is done on the basis of political index calculated on five factors including followership, engagement rate, response rate, original activity, and amplification
• Rahul Gandhi occupies the third spot while Smriti Irani is on fourth position

Your paid Netflix, Prime subscription is a prized target for cyber criminals

• India came second to the US among top destinations for hacking attempts in the world
• In the video media sector alone, three of the largest credential stuffing attacks in 2018 increased from 133 million to nearly 200 million

SpiceJet to shift more flights to Terminal 2 of Delhi, Mumbai airports

• The new flights from Delhi to Mumbai and Bengaluru will operate from Terminal 2 and have a 4-digit flight number starting with 8
• SpiceJet's 4 digit flight numbers — starting with 6 — would be used for flights departing and arriving at Mumbai's Terminal 2

Sri Lanka bombings: Intelligence units confirm IS toehold in south Asia

• The prime suspect Mohammad Zahran’s whereabouts continue to remain unknown
• Sri Lankan President Maithripala Sirisena has moved to sack the defence secretary and inspector general of police

Banking ombudsman saw 25% rise in customer complaints in FY18

• The banking ombudsman scheme (BO Scheme) was introduced in 1995 as a cost-free and expeditious grievance redressal mechanism for customers of banks
• The report showed that the major grounds of complaints received during the year were non-observance of fair practices code

Sril Lanka bombings: Another blast reported in Pugoda town, near Colombo

• A blast was heard in the town of Pugoda, near Colombo
• Police said they were investigating the explosion, which came at a time of high tension in Sri Lanka

Lok Sabha Elections 2019: Making sense of Mandya’s record voter turnout

• Mandya has become one of the biggest political theatres in the state, if not the country in the ongoing Lok Sabha elections
• The record turnout of 80.23%, the highest in its history, indicating that the battle was not just between candidates but between the people of this region

66% of complaints mutually settled: Banking Ombudsman Report

• Banking Ombudsman Report shows a marked rise in mutual settlement of ‘maintainable’ complaints
• The Reserve Bank of India set up the Banking Ombudsman Scheme in 2006 to hear complaints by banking customers

Triumph Motorcycles to launch used bike program in India soon

• The company is also planning to offer financing options on its refurbished models, Triumph India general manager Shoeb Farooq said
• Triumph Motorcycles started its India operations in November 2013 and has cumulatively sold more than 6,000 premium bikes

IAF jets hit 5 out of 6 targets in Balakot air strike

• Indian fighter jets hit five of six designated targets — the first official revelation of the number of targets in the Balakot operation
• As the Indian jets turned back after striking the targets in Balakot, Pakistan scrambled its jets from as many as eight bases

Fitbit Versa Lite review: More smartwatch than a fitness tracker

• The Versa Lite is great if you are just going for a run without a worry about your pace etc
• The Fitbit Versa Lite will make a nice gift for fitness enthusiasts, beginners or those who generally want a smartwatch