IndiGo Q1 results: Net profit soars 42-fold to ₹1,203 crore

• InterGlobe Aviation's sales jumped 42% in the June quarter to ₹9,420 crore
• The improvement in bottomline is on account of higher sales and improved margins while jet fuel price turned softer

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

Ritesh Agarwal triples stake in Oyo with $2 billion share buyback

• Ritesh Agarwal’s stake in Oyo will increase by as much as three times to 30%
• This investment by Agarwal is backed by global institutional banks and his financial partners

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

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 pips Airtel, now second-largest operator by subscriber base

• As of May end, Reliance Jio had 322.98 million users, against Bharti Airtel’s 320.38 million users
• Vodafone Idea continues in the top position with 387.55 million users

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

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

5 things to watch out for in Reliance Industries Q1 earnings

• For its e-commerce venture, RIL plans to sign on local merchants, boosting their sales through O2O marketplace
• RIL is expected to roll-out its fiber-to-the-home (FTTH) service this year

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

Vodafone Idea picks Bank of America, Morgan Stanley for ₹130 bn fiber sale

• Vodafone Idea is in the process of transferring all of its fiber assets into a separate company before the sale
• A deal, if successful, would help the Vodafone Idea add to the funds it’s been raising to pare debt

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

Your old smartphone too has an afterlife, so don’t junk it

If you aren’t passing it down to a family member, here are some things you can do

Market regulator Sebi wants to tighten audit processes for listed companies

• Sebi wants to ensure auditors act responsibly and their resignation does not hurt investor sentiment
• Sebi has sought public comments on the proposals till 8 August

How fake profiles on social media can take you for a ride

• Social media sites are being used to spy, send malicious links and carry out financial frauds
• Social media platforms are more effective for cybercriminals since they allow attackers to build a rapport with their targets

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

Arvind Subramanian counters PMEAC criticism through new GDP paper

• Subramanian in his latest GDP paper argued that real growth in direct taxes actually fell from 14.3% pre-2011 period to 3.7% during post-2011 period
• PMEAC had argued that Subramanian had overlooked taxation data in his earlier analysis

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

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

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

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 appoints Amit Burman as chairman

• Amit Burman replaces Dr Anand C Burman, who stepped down as director and chairman of Dabur
• Amit is the fifth generation Burman and now leading the business as chairman

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

For 6 crore EPFO subscribers, EPF interest rate may remain unchanged

• The labour ministry says the EPF interest rate was fixed by EPFO after keeping a reasonable surplus
• The finance ministry had asked the labour ministry to cut down the interest rate for FY 2018-19

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

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

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’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

After budget’s boost, Centre asks states to help give electric vehicles a push

• The govt has asked states and UTs to induct more EVs into public transport fleets to reduce tailpipe emissions
• States have been asked to communicate by 31 Aug the steps being planned to promote faster adoption of EVs

79% smartphone users hooked to OTT apps like Hotstar, Netflix, Amazon Prime

• Hotstar is the most-penetrated OTT entertainment app
• Amazon Prime Video has slightly better penetration than Netflix in India

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 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

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

Cyient falls 11.4% after missing estimates and rating cut

• Analyst consensus one-year price target for the company is ₹659.65
• Cyient reported a rise of 9.7% YoY in its consolidated profit after tax for Q1

Boeing sees $4.9 billion blow from fallout of 737 Max grounding

• 'This is a defining moment for Boeing,' Chief Executive Officer Dennis Muilenburg said
• Boeing’s first-quarter profit margins were dented by $1 billion in estimated costs

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

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

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, 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

Debt-laden Suzlon may be an attractive bet for Canadian asset manager Brookfield

• Suzlon’s O&M services business is probably the biggest attraction for Brookfield
• Suzlon's ownership of land parcels is another asset that a buyer will see value in

‘Kabir Singh’ runs strong at box office despite row over misogynistic content

• The Arjun Reddy remake has reported worldwide box office collections of ₹350 crore
• Its earnings are higher than Bharat ( ₹304 crore) and Uri: The Surgical Strike ( ₹338 crore)

Panasonic Lumix S1: Hefty but fast mirrorless camera focused on professionals

• Designed for rugged use, the Lumix S1 is splash resistant and can withstand temperature of up to -10 degrees Celsius
• The LCD touchscreen is retractable which means greater flexibility while shooting videos

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

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

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

Gold prices hit record high, silver rates continue to surge

• Both gold and silver prices have surged this week in India, reflecting a firming global trend
• Comments from top US Federal Reserve officials have bolstered expectations of an interest rate cut later this month

IDFC First Bank revises FD rates. Check out the latest rates here

• IDFC First Bank offers short-term FDs ranging from seven days to one year and long-term FDs ranging from one to ten years
• The monthly minimum balance requirement per account in IDFC First Bank is ₹25,000

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

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

Raghuram Rajan didn’t apply for top job at Bank of England

• Raghuram Rajan was named as the second most likely to get the job
• Former Federal Reserve Chair Janet Yellen also didn’t apply for the post of Bank of England Governor

At $20 billion in 2018, India’s green energy investments surpassed thermal power

• India has witnessed a record low solar tariffs of ₹2.44 per unit
• Of the targeted 175GW of clean energy capacity by 2022, 100GW is slated to come from solar projects

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

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

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

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

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