Chanda Kochhar resigned as ICICI Bank CEO on 4 October, 2018. Photo: Abhijit Bhatlekar/Mint
Prime Minister Narendra Modi. Photo: AFP
The list of 30 companies that make up the Sensex have changed since 1986.
FMP is a closed-end scheme.
Photo: Bloomberg

Putting a price to a distressed airline - a valuation decode

Its been more than a week since embattled Jet Airways halted all flight operations indefinitely after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India's largest private airline. Mint's Associate Editor Shrija Agrawal sits down with Varun Gupta, Country Manager, Duff & Phelps and valuations leader for Asia Pacific to decode the question "How do you value a distressed airline"

Sensex, Nifty struggled today amid rising oil prices
Sensex, Nifty struggled today amid rising oil prices
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Sensex struggles amid oil woes; Lupin, Sun Pharma rise: 10 updates

  • Asian markets were mostly flat today
  • Oil prices continued to rise after US ended all Iran sanction exemptions

Former cricketer Gautam Gambhir addresses a press conference after joining Bharatiya Janata Party Photo: PTI
Raj Thackeray was deep in love with PM Modi and the “Gujarat model” through 2013-14. However, the unalloyed bhakt has turned a ferocious antagonist, a hard-hitting challenger
Raj Thackeray was deep in love with PM Modi and the “Gujarat model” through 2013-14. However, the unalloyed bhakt has turned a ferocious antagonist, a hard-hitting challenger

The sudden revival of Raj Thackeray

Despite not fielding a candidate, Raj Thackeray has almost overnight become the main opposition voice in Maharashtra. What’s his game?

Reserve Bank of India (Photo: Aniruddha Chowdhury/Mint)
Elections 2019
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Reliance Industries chairman Mukesh Ambani. Reliance Jio GigaFiber is at present being pilot tested in Mumbai and Delhi and will be rolled out commercially in a  year's time. (Bloomberg)
Reliance Industries chairman Mukesh Ambani. Reliance Jio GigaFiber is at present being pilot tested in Mumbai and Delhi and will be rolled out commercially in a year's time. (Bloomberg)

Reliance Jio GigaFiber to offer broadband, landline and TV combo for 600

  • Landline and TV will be added to Reliance Jio GigaFiber over the next three months, and will remain free for about a year
  • While the landline will come with unlimited calling facility, television channels will be delivered over the internet

Tesla CEO Elon Musk. Photo: AP
The survey also said that 29% of people now believe that companies are passing on the benefit of the July 2018 tax cuts on home appliances to consumers. (Pradeep Gaur/Mint)
The survey also said that 29% of people now believe that companies are passing on the benefit of the July 2018 tax cuts on home appliances to consumers. (Pradeep Gaur/Mint)

GST rate cuts now benefitting consumers more than before: Survey

  • The trend shown by the survey indicates that prices of household items may soften further
  • The survey said 30% people believed in April that they are getting the benefit of tax cuts on items like shampoo, cosmetics and groceries

Apart from considering the ‘safety’ aspect of your debt investments, also look at the taxation to know what the net returns would be. (iStock)
OnePlus 7's case render. (GSMArena)
Sandboxing help startups beta-test new products with less capital than usually required.
A potential China slowdown, trade wars and the destabilization in eurozone are still seen as potential risks to the global economy. (Vipul Sharma/Mint)
A potential China slowdown, trade wars and the destabilization in eurozone are still seen as potential risks to the global economy. (Vipul Sharma/Mint)

Recession fears may be fading but global economy isn't out of the woods yet

  • While global fund managers are shrugging off fears of a recession, BofA-ML predicts 'low growth, low inflation' over the next one year
  • A potential China slowdown, trade wars and the destabilization in eurozone are still seen as potential risks to the global economy

Founded in 2015 by Lizzie Chapman, Priya Sharma, and Ashish Anantharaman, ZestMoney previously raised $6.5 million seed funding in 2017.
Founded in 2015 by Lizzie Chapman, Priya Sharma, and Ashish Anantharaman, ZestMoney previously raised $6.5 million seed funding in 2017.

Lending start-up ZestMoney raises $20 mn Series B funding

  • The new funding will support the company’s expansion plans for 2019 and for other online purchases
  • The firm will also further strengthen its collaborations with retailers, banks & non-banking financial institutions with the funding

The sale of the wind power assets to GAIL (India) will close in three weeks, says IL&FS. (Bloomberg)
Of the 220.4 million tonnes of crude imported by India in 2017-18, more than 10% was from Iran.
Of the 220.4 million tonnes of crude imported by India in 2017-18, more than 10% was from Iran.

Post US sanctions, India assures of a robust oil import plan

  • The government issued a statement spelling out the country’s ‘robust’ energy sourcing plan starting May
  • An increase in oil prices is likely to put pressure on India’s fiscal and current account and comes against the backdrop of the 2019 Lok Sabha elections

Announced in March 2019 and expected to release in US on April 26 for $1,980, Galaxy Fold's key appeal lies in the foldable screen that Samsung claims can withstand 200,000 folds. (Reuters)
Announced in March 2019 and expected to release in US on April 26 for $1,980, Galaxy Fold's key appeal lies in the foldable screen that Samsung claims can withstand 200,000 folds. (Reuters)

Samsung holds on Galaxy Fold release over durability concerns of foldable screen

  • The phone's screen couldn't survive two days of folding by reporters who had received the early units for reviews before the launch
  • Samsung said their initial findings showed that the reported issues could be due to impact on the top and bottom exposed areas of the hinge and also due to a broken substance inside the device

We expressed that highest degree of confidentiality be maintained... Our respect for the institution isn’t being shared by people, CJI Ranjan Gogoi said. Photo: Pradeep Gaur/Mint
We expressed that highest degree of confidentiality be maintained... Our respect for the institution isn’t being shared by people, CJI Ranjan Gogoi said. Photo: Pradeep Gaur/Mint

SC to hear sexual harassment allegations against CJI Ranjan Gogoi on Tuesday

  • The suo motu proceedings, initiated by the SC in the wake of sexual harassment allegations against CJI Ranjan Gogoi
  • Last week, CJI had convened an 'extraordinary' sitting after reports emerged about charges against him

Kerala chief minister Pinarayi Vijayan standing in a queue to vote for general elections in the state. All 20 seats in Kerala will be decided on Tuesday, in the third phase of polling. Photo credit: Special arrangement
Kerala chief minister Pinarayi Vijayan standing in a queue to vote for general elections in the state. All 20 seats in Kerala will be decided on Tuesday, in the third phase of polling. Photo credit: Special arrangement

Heavy polling in Kerala, despite wide scale complaints of faulty EVMs

  • The public raised complaints about voting machines being either slow or faulty in districts such as Ernakulam, Aluva, Thiruvananthapuram
  • Chief minister Pinarayi Vijayan, who voted after half an hour standing in the queue, criticised the election commission over the complaints

'OYO Near You' will soon be launched in cities such as Bengaluru, Goa, Kolkata, Mumbai, Chennai, Jaipur, Hyderabad, Pune amongst others in coming months.
'OYO Near You' will soon be launched in cities such as Bengaluru, Goa, Kolkata, Mumbai, Chennai, Jaipur, Hyderabad, Pune amongst others in coming months.

OYO unveils new initiative 'OYO Near You' for customers

  • OYO has launched a new initiative 'OYO Near You' through which it will curate experiences for customers in Delhi-NCR
  • From wine tastings to movie-screenings, the new initiative would include activities such as house parties, comedy shows, live performances, workshops

Bounce was founded as Wicked Rides in 2014 by Vivekananda H.R., Varun Agni and Anil G.
Bounce was founded as Wicked Rides in 2014 by Vivekananda H.R., Varun Agni and Anil G.

Falcon Edge, Maverick, existing investors to invest in Bounce

  • Bounce said that it has raised venture debt financing of about $3 million from Innoven Capital
  • Bounce last raised a $12.2 million Series A round in August last year led by Sequoia and Accel, closely after which it raised $3 million in debt from InnoVen Capital

Brent for June settlement climbed as much as 39 cents to $74.43 a barrel on the London-based ICE Futures Europe exchang
Brent for June settlement climbed as much as 39 cents to $74.43 a barrel on the London-based ICE Futures Europe exchang

Oil prices extend rally as US ends waivers on Iran crude

  • Crude has rallied about 38% this year as OPEC and its partners embarked on their mission to cut output
  • Disruptions in Venezuela, Nigeria and Libya have helped further squeeze supplies

Blackstone Group sees an opportunity to use Essel Propack as a platform to acquire more packaging companies. (Paras Jain/Mint)
Blackstone Group sees an opportunity to use Essel Propack as a platform to acquire more packaging companies. (Paras Jain/Mint)

Blackstone Group to acquire majority stake in Essel Propack at 134/share

  • Private equity firm Blackstone has signed a definitive agreement with Essel Propack’s promoter, Ashok Goel, to buy a 51% stake at 134 a share
  • The Blackstone-Propack deal will trigger a mandatory open offer requiring Blackstone to purchase an additional 26% stake in Essel Propack

If bankers remain on their toes, the possibility of bank frauds comes down significantly, says SWIFT India chairman Arundhati Bhattacharya. (Mint)
If bankers remain on their toes, the possibility of bank frauds comes down significantly, says SWIFT India chairman Arundhati Bhattacharya. (Mint)

Never let your guard down, SWIFT India’s Arundhati Bhattacharya tells banks

  • Perpetrators of bank frauds are always thinking up new techniques and the only way to prevent it is being watchful, says Bhattacharya
  • The SWIFT India chairman also stressed on the need for bank mergers to make technology spends viable

After the completion of third phase, four more phases in the Lok Sabha polls are still to go polls. (AFP)
After the completion of third phase, four more phases in the Lok Sabha polls are still to go polls. (AFP)

Voting is on for the largest phase of Lok Sabha Elections 2019

  • The third phase is critical as three states go to polls in a single phase on Tuesday - Gujarat, Kerala and Goa
  • The electorate base for the third phase is more than 18 crore 85 lakh and a total of 1640 candidates are in fray

Prime Minister Narendra Modi shows his ink-marked finger after casting his vote outside a polling station during the third phase of general election in Ahmedabad, (Reuters)
Prime Minister Narendra Modi shows his ink-marked finger after casting his vote outside a polling station during the third phase of general election in Ahmedabad, (Reuters)

PM Narendra Modi votes in third phase of Lok Sabha elections

  • In all, 188 million voters are eligible to cast ballots in 117 constituencies during the day across 15 states
  • BJP has aggressively pushed Modi's national security record as it seeks to offset the opposition's charges of economic mishandling

For bond markets, the worry is two-pronged with the concern being that high oil prices might pose a fresh risk to the fiscal math, if subsides return, by extension requiring higher borrowing, said the duo. (Reuters)
For bond markets, the worry is two-pronged with the concern being that high oil prices might pose a fresh risk to the fiscal math, if subsides return, by extension requiring higher borrowing, said the duo. (Reuters)

High oil prices an 'Achilles heel' for Indian economy: Report

  • The surging price of oil is an Achilles heel for the Indian economy, complicating its inflation, current account, fiscal balance and currency outlook
  • The Reserve Bank of India's minutes from the April meeting had already left the market divided

India will need to come up with options that offer terms as attractive as those offered by Iran. (Reuters)
India will need to come up with options that offer terms as attractive as those offered by Iran. (Reuters)

How US move against Iran oil affects India

  • The US move comes in the backdrop of ongoing elections in India to chose the 17th Lok Sabha
  • India, the world’s third-largest oil importer, has been concerned about elevated oil prices adversely impacting the country’s trade deficit

Opinion
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BJP candidate from Ahmednagar Sujay Vikhe Patil with BJP leader Pankaja Munde during an election campaign in Pathardi. (Kunal Patil/HT)
BJP candidate from Ahmednagar Sujay Vikhe Patil with BJP leader Pankaja Munde during an election campaign in Pathardi. (Kunal Patil/HT)

Focus on farm crisis, jobs as 14 Maharashtra seats vote

  • Constituencies voting today comprise some of the state’s most prosperous pockets as well as a few economic laggards
  • Among the first-time voters, there seems to be a concern that local and developmental issues are not topping the agenda

On Monday, the Reserve Bank of India (RBI) said it had extended the validity of in-principle approval for new banks to 18 months from one year. Photo: Pradeep Gaur/Mint (Pradeep Gaur/Mint)
On Monday, the Reserve Bank of India (RBI) said it had extended the validity of in-principle approval for new banks to 18 months from one year. Photo: Pradeep Gaur/Mint (Pradeep Gaur/Mint)

Finmin asks all departments to conduct review of govt guarantee

  • The details of CPSEs or entities due guarantee fee paid on time to the government should also be submitted
  • Guarantees are contingent liabilities have the potential to impact the financial performance of the government

Nandan Nilekani.  (Mint)
Nandan Nilekani. (Mint)

Aadhaar just an ID, says Nandan Nilekani

  • Nilekani said surveillance was more a state concern, in which state knows too much about the individuals and then uses it
  • Nilekani said surveillance should be a matter of concern

India is projected to lose market share to Bangladesh and Vietnam for readymade garment exports to the European Union as Bangladesh has duty-free access to the EU. (Priyanka Parashar/Mint)
India is projected to lose market share to Bangladesh and Vietnam for readymade garment exports to the European Union as Bangladesh has duty-free access to the EU. (Priyanka Parashar/Mint)

Why India’s apparel exports are falling

  • Estimated at $16.2 billion in FY19, India's apparel exports fell by 1.2% from FY18, which in turn was 4% lower than the previous year
  • Even the share of apparel exports in the country’s total textile exports has fallen sharply from 51% in FY17 to 45% in FY19

The NFO or new fund offer of Mirae Asset Focused Fund will be open from 23 April to 7 May 2019
The NFO or new fund offer of Mirae Asset Focused Fund will be open from 23 April to 7 May 2019

Mirae Asset launches its first equity focused mutual fund

  • Mirae Asset Focused Fund, an open-ended equity scheme, will be investing in a maximum of 30 stocks
  • The fund manager has the flexibility to invest across large cap, mid cap and small cap categories (multi-cap style) and across sectors

Congress leader Navjot Singh Sidhu at an election rally in Katihar. (PTI)
Congress leader Navjot Singh Sidhu at an election rally in Katihar. (PTI)

EC bans Navjot Singh Sidhu from campaigning for 72 hours

  • Sidhu has been banned from campaigning for 72 hours for his controversial remarks which was seen in violation of the Model Code of Conduct
  • He will be barred from all forms of campaign including holding any public meetings, rallies, interviews and public utterances in any media

Photo: AFP
Photo: AFP

Opinion | Rise of the new class of voters who support BJP

This new class is possessed with the idea of New India, and Modi embodies that idea

 (Priyanka Parashar/Mint)
M&A deals are more likely to happen between firms whose boards are dominated by the same caste, finds a new study. (iStockphoto)
M&A deals are more likely to happen between firms whose boards are dominated by the same caste, finds a new study. (iStockphoto)

Caste biases rife even in M&A deals in India, shows an IIM-B study

  • Company boards dominated by directors of the same caste tend to enter deals more often, shows an IIM-B study
  • These companies perform slightly worse in terms of returns than those who do not enter into same-caste deals

TikTok, a short video mobile application, allows users to create and share short videos with special effects which are hugely popular. (Bloomberg)
TikTok, a short video mobile application, allows users to create and share short videos with special effects which are hugely popular. (Bloomberg)

SC asks Madras HC to decide on plea against TikTok ban in 2 days

  • The apex court was hearing a plea by ByteDance, the China-based parent company of TikTok, against the Madras High Court order
  • TikTok, a short video mobile application, allows users to create and share short videos with special effects which are hugely popular

Maheshwari takes over from Balaji Krish, who has been leading the Twitter India team in the interim for the past few months.
Maheshwari takes over from Balaji Krish, who has been leading the Twitter India team in the interim for the past few months.

Network 18’s Manish Maheshwari is new Twitter India MD

  • Manish Maheshwari will be responsible for driving an integrated business strategy to accelerate the social media platform’s audience
  • Before joining Twitter, Maheshwari was the chief executive of the media firm Network18 Digital

Sri Lankan soldiers stand guard at the site of car explosion near St. Anthony's Shrine in Colombo, Monday. (AFP)
Sri Lankan soldiers stand guard at the site of car explosion near St. Anthony's Shrine in Colombo, Monday. (AFP)

Sri Lanka blames local group NTJ for Easter Sunday bombings

  • Lankan govt investigating whether the Islamist extremist group National Thowheeth Jama'ath had ‘international support’
  • 13 suspects had been taken into custody and were being probed for their connection to the NTJ

A view of the damage at St. Sebastian Catholic Church, after bomb blasts ripped through churches and luxury hotels on Easter.  (Reuters )
A view of the damage at St. Sebastian Catholic Church, after bomb blasts ripped through churches and luxury hotels on Easter. (Reuters )

Four JD(S) workers from Karnataka die in Sri Lanka bombings

  • A string of eight blasts, including suicide attacks had devastated Sri Lanka on Easter Sunday, ripping through churches and luxury hotels, killing hundreds
  • Over 290 people are believed to have died and another 500 injured

 (Pradeep Gaur/Mint)
Foreign Secretary Vijay Gokhale met with US National Security Advisor John Bolton in Washington on Wednesday. Photo: ANI
Nitesh Shetty, chairman and managing director of Bengaluru-based real estate firm Nitesh Estates.
Nitesh Shetty, chairman and managing director of Bengaluru-based real estate firm Nitesh Estates.

Nitesh Estates to raise 1,300 crore for commercial office portfolio

  • Nitesh Estates will raise 800 crore as equity and partner a foreign investor primarily to build a commercial office platform, says CMD
  • Nitesh Estates also plans to raise up to 500 crore of structured debt for 3-4 residential projects, which will be converted into offices

 (Bloomberg)
(Bloomberg)

Samsung delays launch of Galaxy Fold phone

  • The announcement comes days after some reviewers reported problems with their test units after just a day or two of use
  • Samsung has hailed the folding design as the future in a field that has seen few surprises since Apple Inc's iPhone in 2007

A SpiceJet passenger aircraft taxis on the runway.  (Reuters )
A SpiceJet passenger aircraft taxis on the runway. (Reuters )

SpiceJet to deploy sub-leased aircraft from Jet lessors

  • The airline owes 16 aircraft, while the rest were leased. Last year it had a fleet of around 120 aircraft
  • SpiceJet had said that it would induct as many as 27 planes in a record time of less than two weeks

The Nissan logo. (Reuters )
The Nissan logo. (Reuters )

Nissan to reject new integration proposal from Renault: Nikkei

  • Nissan Chief Executive Hiroto Saikawa declined to say whether the company had received such a proposal from Renault
  • Renault has argued in its proposal that an integration would maximise synergies within the French-Japanese alliance, according to the Nikkei

 (Mint)
The capping of tariff has been an issue as it led to failure of a 10 GW manufacturing linked solar power tender last year also (Reuters)
The capping of tariff has been an issue as it led to failure of a 10 GW manufacturing linked solar power tender last year also (Reuters)

SECI postpones manufacturing-linked solar bid for 3 GW till May 14

  • The techno-commercial bid opening shall be carried out from 1700 hours on same day
  • According to the notice, the last date of bid submission is extended till May 14, 2019

An Indonesian Muslim student shows her solidarity to the victims of the Sri Lankan blasts, in Surabaya on April 22, 2019. - Sri Lanka said it believed a local Islamist extremist group was behind deadly suicide bomb blasts . (Photo by Juni Kriswanto / AFP)
An Indonesian Muslim student shows her solidarity to the victims of the Sri Lankan blasts, in Surabaya on April 22, 2019. - Sri Lanka said it believed a local Islamist extremist group was behind deadly suicide bomb blasts . (Photo by Juni Kriswanto / AFP)

Security tightened in southern states after terror attack in Sri Lanka

  • Security has also been stepped up in sensitive locations in major cities like Delhi, Mumbai, Chennai and Bengaluru
  • Additional security arrangements in churches and other major religious sites in Tamil Nadu, Karnataka, Kerala, Andhra Pradesh and Telangana have been made

Photo: Mint
The logo of IndiGo Airlines (Reuters )
Motoroyale is currently the exclusive distributor of MV Agusta, Norton, SWM, FB Mondial and Hyosung bikes in India. (Autocar India)
Motoroyale is currently the exclusive distributor of MV Agusta, Norton, SWM, FB Mondial and Hyosung bikes in India. (Autocar India)

Motoroyale brings MV Agusta Brutale 800 RR America to India

  • Motoroyale said only five units of the superbike would be available for sale in the country
  • The MV Agusta Brutale 800 RR America is powered by an in-line three cylinder engine which delivers a power of 140 bhp with 87 NM torque