Key issues pointed out by SEBI included providing incorrect data on investor complaints in the annual report/MF website. (Photo: Aniruddha Chowdhury/Mint)
Key issues pointed out by SEBI included providing incorrect data on investor complaints in the annual report/MF website. (Photo: Aniruddha Chowdhury/Mint)

Sebi probes insider trading at Infosys, whistleblower claims

  • Regulator takes suo motu action, huge short positions built just before complaint under lens
  • On Wednesday, BSE said Infosys failed to disclose the whistleblower complaint to exchanges as per listing norms

A forensic audit of DHFL’s accounts had earlier found gaps in assessment of projects against which DHFL had advanced funds (Photo: Aniruddha Chowdhury/Mint)
A forensic audit of DHFL’s accounts had earlier found gaps in assessment of projects against which DHFL had advanced funds (Photo: Aniruddha Chowdhury/Mint)

DHFL lenders hire real estate consultants to check its loans

  • CBRE South Asia is examining large project loans, JLL is looking at mortgage loans and Cushman and Wakefield is scrutinizing the remaining loans
  • Lenders have also asked law firm Desai and Diwanji to conduct a legal due diligence of DHFL’s wholesale borrower book

Graphic: Santosh Sharma/Mint

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The MAX crisis, which has consumed the company, has eclipsed work on a potential new mid-market airplane codenamed NMA, and other industrial setbacks broadened pressure on the company's new commercial leadership. (Reuters)
The MAX crisis, which has consumed the company, has eclipsed work on a potential new mid-market airplane codenamed NMA, and other industrial setbacks broadened pressure on the company's new commercial leadership. (Reuters)

Boeing sees 737 MAX US approval before year-end, shares rise

  • Boeing said it was cutting production of its flagship Dreamliner, delaying plans to step up output of its money-spinning 737 line and also the arrival of a successor to its 777 mini-jumbo
  • Boeing faces a slew of investigations by regulators, U.S. Congress, and the Department of Justice over its development of the 737 MAX,

Communications and IT Minister minister Ravishankar Prasad added that neither BSNL or MTNL is being closed, or government’s stake divested or the firms being hived off to a third party.
Communications and IT Minister minister Ravishankar Prasad added that neither BSNL or MTNL is being closed, or government’s stake divested or the firms being hived off to a third party.

BSNL, MTNL to be merged as part of a 56,000 crore rescue plan

  • The strategy would also see the government explore ways to exploit the vast land assets of the two companies
  • The BSNL-MTNL revival plan includes raising sovereign bonds, monetising assets and voluntary retirement scheme (VRS) for employees

Britain's Prime Minister Boris Johnson (Reuters)
Britain's Prime Minister Boris Johnson (Reuters)

EU could approve Boris Johnson’s Brexit extension request by Friday

  • Boris Johnson wrote to EU Council President Donald Tusk asking for a three-month extension to the Brexit negotiations until Jan. 31
  • Ambassadors from the EU’s other 27 governments will meet in Brussels at 5:30 p.m. local time on Wednesday to discuss the U.K.’s request

The slump in consumption has been at the forefront of the recent slowdown, with the biggest hit seen in the automobile sector (Photo: Mint)
The slump in consumption has been at the forefront of the recent slowdown, with the biggest hit seen in the automobile sector (Photo: Mint)

No festive cheer in the economy

  • The slowdown shows no sign of letting up with nine of the 16 high-frequency indicators tracked by the Mint Macro Tracker in the red as of September
  • The only sector of the economy that saw some relief was the external sector, with the trade balance improving slightly

A week before Diwali, the main market in Srikaranpur, Rajasthan, bears an empty look.  (Photo: Pradeep Gaur/Mint)
A week before Diwali, the main market in Srikaranpur, Rajasthan, bears an empty look. (Photo: Pradeep Gaur/Mint)

Celebrating Diwali during a downturn

  • A field report from the agriculturally prosperous heartland reveals a lacklustre festival of lights
  • Delay in farm loan waivers has worsened farmers’ credit score. So, financiers are unwilling to advance new loans to them for buying farm equipment

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Photo: Jayachandran/Mint
Photo: Aniruddha Chowdhury/Mint
Photo: Aniruddha Chowdhury/Mint

WeWork plans to lay off 4,000 staff: Report

The job cut will amount to just under a third of WeWork's global workforce, and about 1,000 of the cuts will hit employees such as janitorial staffSoftBank agreed to spend more than $10 billion to take over WeWork on Tuesday

If you have been undisciplined with your spending, you will see the signs in your finances later (Photo: iStock)
If you have been undisciplined with your spending, you will see the signs in your finances later (Photo: iStock)

Put a festival fund in place to truly enjoy the celebrations

  • Planning ahead for expenses that are likely to be incurred each year can make celebrations truly enjoyable
  • If you are falling short and believe you may need to resort to debt, then have a repayment plan in place

SpiceJet chairman Ajay Singh (left) with Sheikh Khalid bin Saud Al Qasimi, son of Ras al-Khaimah ruler Sheikh Saud bin Saqr Al Qasimi in Ras al-Khaimah, United Arab Emirates on Wednesday (Photo: PTI)
SpiceJet chairman Ajay Singh (left) with Sheikh Khalid bin Saud Al Qasimi, son of Ras al-Khaimah ruler Sheikh Saud bin Saqr Al Qasimi in Ras al-Khaimah, United Arab Emirates on Wednesday (Photo: PTI)

SpiceJet to open 1st international hub in UAE with Boeing 737 Maxs

  • Ras Al Khaimah International Airport will be the hub of the new airline, and will be SpiceJet's first overseas hub in the UAE
  • SpiceJet says it would use now-grounded Boeing 737 Maxs aircraft in the operation, once regulators approve the planes for flight

Till now, only companies with refinery businesses were allowed to enter the fuel retail segment (Photo: Mint)
The market expects the company to continue to show improved performance. Photo: HT
Axis Bank reported a net loss of  ₹112 crore for the second quarter.
Non-bank lenders have seen their source of funds suddenly dry up after a series of defaults by Infrastructure Leasing & Financial Services Ltd (IL&FS) that triggered a liquidity crisis.. Aniruddha Chowdhury/Mint
Non-bank lenders have seen their source of funds suddenly dry up after a series of defaults by Infrastructure Leasing & Financial Services Ltd (IL&FS) that triggered a liquidity crisis.. Aniruddha Chowdhury/Mint

S&P sees rising risk of contagion in India's financial sector

  • Many finance companies have lost more than half of their equity value in the past year, and credit markets are charging huge premiums on debt issued by the riskier finance companies
  • A recent contagion analysis released by the RBI suggested that the failure of any top-five HFC or NBFC could result in the default of up to two banks

US-based Rosen Law Firm is preparing a class action lawsuit to recover losses of Infosys investors
Could longer gestation periods for new phone launches lead to better and more purposeful innovation? (Bloomberg)
Could longer gestation periods for new phone launches lead to better and more purposeful innovation? (Bloomberg)

Should smartphone makers consider longer gestation periods?

  • Where Google and Samsung seem to be examples of lack of testing because of a ‘hurry’ in the market, others are about the lack of innovation
  • A cursory glance at the market reveals that few have been able to really do anything new in the smartphone space

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Salil Parekh, chief executive of Infosys. The company has dealt with whistleblower issues in the past as well (Photo: Mint)
Plain Facts
The slump in consumption has been at the forefront of the recent slowdown, with the biggest hit seen in the automobile sector (Photo: Mint)

No festive cheer in the economy

3 min read . 12:26 AM IST
Over 10% of Delhi’s teenagers are hypertensive, and nearly 25% of 5- to 9-year-olds in WB have high cholesterol

India and its unhealthy children

3 min read . 22 Oct 2019
Abhijit Banerjee, right, talks during a news conference with Esther Duflo at Massachusetts Institute of Technology in Cambridge. (AP)

What the Nobel says about economics

3 min read . 21 Oct 2019
Long Reads
Britain's Prime Minister Boris Johnson. (Reuters)
Britain's Prime Minister Boris Johnson. (Reuters)

Johnson cancels appearance before committee of lawmakers on Thursday

  • British Prime Minister Boris Johnson cancelled an appearance before a committee of lawmakers scheduled for Thursday
  • I am afraid I must now focus on delivering Brexit in the difficult circumstances in which we now find ourselves, said Johnson

HPCL was incorporated in 1974 after the takeover and merger of erstwhile Esso Standard and Lube India through the Esso (Acquisition of Undertaking in India) Act passed by Parliament.. Photo: Mint
HPCL was incorporated in 1974 after the takeover and merger of erstwhile Esso Standard and Lube India through the Esso (Acquisition of Undertaking in India) Act passed by Parliament.. Photo: Mint

Govt accords 'Maharatna' status to Hindustan Petroleum, Power Grid Corp

  • The grant of Maharatna status to the PSUs will impart enhanced powers to their Boards to take financial decisions
  • Two separate orders to this effect were issued by the Department of Public Enterprises, under the Ministry of Heavy Industry and Public Enterprises

Hero MotoCorp's total standalone income for Q2 stood at  ₹7,779 crore, down 16.5% YoY (Photo: Bloomberg)
Hero MotoCorp's total standalone income for Q2 stood at 7,779 crore, down 16.5% YoY (Photo: Bloomberg)

Hero MotoCorp consolidated PAT down 10% in Q2FY20

  • Hero MotoCorp consolidated net PAT stood at 884 crore for Q2 against 982 crore from the year-ago period
  • Hero MotoCorp's total consolidated income reported a decline of 17% YoY at 7,825 crore during Q2 on subdued demand for two-wheelers in the domestic market

While investors look for interesting models within the space, the business-to-business model attracted the most funding.
Given that costs are not disclosed in traditional plans, they should mention the net return in benefit illustrations (Photo: iStock)
Retailers in Delhi say that people come to check out items in their stores, but buy them online to avail discounts. (Photo: Pradeep Gaur/Mint)
Retailers in Delhi say that people come to check out items in their stores, but buy them online to avail discounts. (Photo: Pradeep Gaur/Mint)

Diwali sparkle missing from Delhi's markets

Shoppers are relying on zero-cost EMIs, postponing big-ticket purchases, or putting off buying new gadgets so that they can fund a holiday instead

The findings of the forensic audit into DHFL can potentially scupper the debt restructuring plan.
The findings of the forensic audit into DHFL can potentially scupper the debt restructuring plan.

25 DHFL group firms with 1 lakh avg profit took 14,000  cr loans

  • The draft forensic audit report will be presented to the board once it is finalized
  • Out of the around 27,000 cr worth of loans raised by DHFL from banks for on-lending to home buyers, around 10,050 cr was invested in mutual funds, findings of the audit revealed

In July 2017, markets regulator Sebi has notified stricter P-notes norms stipulating a fee of USD 1,000 that will be levied on each instrument to check any misuse for channelising black money. Photo: Reuters
In July 2017, markets regulator Sebi has notified stricter P-notes norms stipulating a fee of USD 1,000 that will be levied on each instrument to check any misuse for channelising black money. Photo: Reuters

Investments via P-notes fall for fourth month in a row, stand at 76,611 cr

  • Investments through P-notes have been continuously declining since June, according to the latest data from markets regulator Sebi
  • At the end of July, the Indian capital market saw a total inflow of 81,082 crore via P-notes, a fall as compared to 81,913 crore till June-end

Photo: Mint
Photo: iStock
The paint maker’s consolidated profit rose 67.5% y-o-y to  ₹823.40 crore in the September quarter. (Photo: Satish Kaushik/Mint)
The paint maker’s consolidated profit rose 67.5% y-o-y to 823.40 crore in the September quarter. (Photo: Satish Kaushik/Mint)

Asian Paints gets a boost from aggressive sale of low-end items

  • It has introduced new products in the low-end distemper category to improve growth rates
  • Asian Paints stock trades at a one-year forward price-to-earnings multiple of around 51 times, making it one of the expensive stocks in the consumer discretionary space

SpiceJet chairman and managing director Ajay Singh and Sheikh Khalid bin Saud Al Qasimi, a son of Ras al-Khaimah ruler Sheikh Saud bin Saqr Al Qasimi. (AP)
SpiceJet chairman and managing director Ajay Singh and Sheikh Khalid bin Saud Al Qasimi, a son of Ras al-Khaimah ruler Sheikh Saud bin Saqr Al Qasimi. (AP)

SpiceJet to start new airline in UAE

  • SpiceJet will be the sixth airline to operate from the UAE after Emirates, Etihad, Air Arabia, flydubai and the recently-announced Air Arabia Abu Dhabi
  • Ras Al Khaimah International Airport will be the hub of the new airline, and will be SpiceJet's first overseas hub in the UAE

India’s success in the service sector has been especially remarkable as its share of the world’s information and communication technologies service exports almost tripled in a decade Photo: Reuters
India’s success in the service sector has been especially remarkable as its share of the world’s information and communication technologies service exports almost tripled in a decade Photo: Reuters

IMF sees Indian economic growth rebounding to 7% next fiscal

  • IMF's APAC Deputy Director said the recent tax cuts, government's progress in addressing lingering weaknesses in the financial sector and measures to support growth sectors are the factors underpinning growth
  • Services are an important source of growth and productivity to enhance investments in the period ahead, he added

Apple Watch's 'fall detection' feature is auto-enabled for users over age 65 (REUTERS)
Gurgaon rapid metro was constructed by IL&FS Infrastructure in two phases. (HT)
Check here for ICICI Bank latest FD rates. (Mint)
US President Donald Trump. (Photo: Reuters)
US President Donald Trump. (Photo: Reuters)

Trump to promote withdrawing U.S. from Paris climate accord: Report

  • Trump, a longtime opponent of the Paris agreement, vowed in the 2016 presidential election campaign that he would 'cancel' it
  • Withdrawing takes one year, which would mean the United States would leave the agreement one day after the 2020 presidential election

Allegations of malpractices are also made against Infosys CEO Salil Parekh and CFO Nilanjan Roy (pictured).mint
Gold price today: On MCX, gold was trading at  ₹38,040 per 10 gram
A house is probably the biggest spend for most Indians (Photo: iStock)
A house is probably the biggest spend for most Indians (Photo: iStock)

How much a house costs in Kolkata?

  • Our compilation of property prices of prominent localities in Chennai cities and surrounding areas may help you compare and make an informed decision
  • Here are prices of some properties in price bands of below Rs50 lakh, Rs50-75 lakh, and above Rs75 lakh

Salil Parekh, (Photo: Mint)
The researchers suggest a more effective way to increase earnings and attention could be afternoon naps. (Photo: iStock)