Jio’s ARPU for the June 2019 quarter was at  ₹122, down from  ₹126.2 in the March
MG Motor currently produces 2,000 units of the Hector a month. The SUV has received 21,000 bookings since its 4 June launch. (Photo: Mint)
MG Motor currently produces 2,000 units of the Hector a month. The SUV has received 21,000 bookings since its 4 June launch. (Photo: Mint)

New comers MG Motor and Kia buck the vehicle sales trend as incumbents struggle

  • MG Motor stopped taking bookings for Hector after the company received 21000 bookings since its 4 June launch
  • Kia Motors - a subsidiary of Hyundai Motor Group - got more than 6000 bookings on the first day it started taking bookings

The Polar Satellite Launch Vehicle, or PSLV-C11, successfully launches ‘Chandrayaan-1’ from Sriharikota in 2008. (Getty Image)
The Polar Satellite Launch Vehicle, or PSLV-C11, successfully launches ‘Chandrayaan-1’ from Sriharikota in 2008. (Getty Image)

Aiming for the moon: Measuring India’s leap

  • Going behind the scenes of the halted ‘Chandrayaan-2’ mission, Lounge takes a closer look at India’s relationship with the moon
  • The Apollo 11 landings had a key impact on India’s space programme too. Isro was incorporated barely a month after the iconic moon mission.

Lounge
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An imaginative painting of Galileo Galilei presenting his telescope. (Wikimedia Commons)

Madcap writers and moonwalkers

6 min read . 09:45 AM IST
The album cover of The Beatles’ ‘The Piper At The Gates Of Dawn’. wikimedia commons

Tripping on the moon

4 min read . 09:45 AM IST

Starry, starry white

1 min read . 09:45 AM IST
Lunar-themed sweets include rice ‘payasam’ served as ‘prasad’

Eat under the moon

6 min read . 09:45 AM IST
Just halfway through the year, the list of unicorns created this year is at par with all of 2018 Photo: iStock
Just halfway through the year, the list of unicorns created this year is at par with all of 2018 Photo: iStock

India’s unicorn tribe grows faster than ever this year

  • 2019 alone has produced over half a dozen unicorns so far, with a new one just last week
  • Unicorns created this year include Icertis, BigBasket, Rivigo, Delhivery, software firm Druva, Dream11, CitiusTech and Ola Electric

Mutual funds have significantly reduced their exposure to commercial papers after the IL&FS crisis last year, say analysts. (Photo: Aniruddha Chowdhury/Mint)
Mutual funds have significantly reduced their exposure to commercial papers after the IL&FS crisis last year, say analysts. (Photo: Aniruddha Chowdhury/Mint)

Mutual funds pare holdings in commercial papers in June

  • MFs’ stakes in commercial paper fell 13.69% from 4.31 tn in May to 3.72 tn in June
  • Mutual funds have significantly reduced their exposure to CPs in the aftermath of the IL&FS crisis

SBI, ICICI Bank, Bank of Baroda and many other banks have recently cut their MCLR rates
Mukesh Ambani, chairman and managing director, RIL.
Jet Airways has not flown since 18 April because of funding woes. (Abhijit Bhatlekar/Mint)

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Long Reads
Prime Minister Narendra Modi during his interaction with secretaries to the government this month. (Twitter@narendramodi)

The plan to reform India’s babudom

8 min read . 18 Jul 2019
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
Karnataka chief minister H.D. Kumaraswamy at the state assembly in Bengaluru on Friday (Photo: PTI)
Reserve Bank of India Governor Shaktikanta Das (File photo: AFP)
ITR Filing
This is the single largest foreign investment in an Indian infrastructure vehicle, the company said (Photo: Reuters)
This is the single largest foreign investment in an Indian infrastructure vehicle, the company said (Photo: Reuters)

Canada's Brookfield to infuse 25,215 crore into RIL's tower arm

  • Proceeds from the investment will be used to repay certain existing financial liabilities of Reliance Jio lnfratel
  • This is the single largest foreign investment in an Indian infrastructure vehicle, RIL said

Plain Facts
The CPSE ETF tracks shares of 11 central public sector enterprises (iStock)
An imaginative painting of Galileo Galilei presenting his telescope. (Wikimedia Commons)
An imaginative painting of Galileo Galilei presenting his telescope. (Wikimedia Commons)

Madcap writers and moonwalkers

  • Centuries before Apollo 11 landed on the moon, men were already walking on it
  • Instead of technological advancement, it was the imagination of writers that made this possible

A file photo of 2008 Mumbai terror attack mastermind Hafiz Saeed. Photo: AFP
A file photo of 2008 Mumbai terror attack mastermind Hafiz Saeed. Photo: AFP

Previous arrest of Hafiz Saeed made no difference, want concrete steps: US

  • 'We have been looking for sustained and concrete steps, not just window dressing,' said US official
  • US official said that this was the seventh time that Hafiz Saeed was arrested since 2001 Parliament attack when he was detained right after that attack and was subsequently released

This was the third consecutive loss of market share for IndiGo as it had notched up 49.9% in April (Reuters )
This was the third consecutive loss of market share for IndiGo as it had notched up 49.9% in April (Reuters )

Domestic air traffic volume picks up again, inches up 6.2% in June: DGCA data

  • The largest carrier IndiGo continued its market leadership ferrying 5.77 mn passengers in the month, followed by rival SpiceJet with 1.86 mn
  • However, Indigo's market share declined 0.9% to 48.1%, while SpiceJet cornered 15.6% of the traffic volume

Photo: Reuters
(Photo: Reuters)
(Photo: Reuters)

Ex-IL&FS auditors again question NCLT jurisdiction to ban them

  • The corporate affairs ministry has sought a five-year ban on Deloitte and BSR for their failure to do the statutory job properly while they were auditing these group companies
  • Deloitte's counsel argued that Section 140(5) of Companies Act does not apply if the auditors are no longer with a company

The album cover of The Beatles’ ‘The Piper At The Gates Of Dawn’. wikimedia commons
The album cover of The Beatles’ ‘The Piper At The Gates Of Dawn’. wikimedia commons

Tripping on the moon

  • Before and after July 1969, popular music has been fascinated by space travel
  • From ‘Space Oddity’ to ‘Astronomy Domine’, here are some of rock’s spaciest tunes

Income tax rules on gold depends on the form of holding and time period of holding
The prototype has been developed after over two years of research. (@crpfindia)
You will also find plans such as Future Generali Insurance Co Ltd’s Vector Care plan that covers you for all the vector-borne diseases
You will also find plans such as Future Generali Insurance Co Ltd’s Vector Care plan that covers you for all the vector-borne diseases

Home to car to health insurance: How to be monsoon-ready

  • Monsoon may bring a sense of hope, but it comes with its own set of perils — diseases and damages — that you should be covered for
  • There are some comprehensive health insurance plans that cover most of these mosquito-borne diseases

World Bank and AIIB were due to provide the lion's share of the $715 million cost of critical funding for transport, sanitation and water supply (Photo: Reuters)
World Bank and AIIB were due to provide the lion's share of the $715 million cost of critical funding for transport, sanitation and water supply (Photo: Reuters)

World Bank decides not to fund project to build Andhra's new capital Amaravati

  • This, after the central government dropped support for the project
  • The Beijing-backed Asian Infrastructure Investment Bank, that was due to finance $200 million of the project, said it was reviewing its involvement

Flood affected people stand with their cattle on a submerged road in Gagalmari, east of Gauhati, capital of the northeastern Indian state of Assam. (AP)
Flood affected people stand with their cattle on a submerged road in Gagalmari, east of Gauhati, capital of the northeastern Indian state of Assam. (AP)

Floods continue to pile agony on people of Bihar, Assam

  • In Bihar, 66.76 lakh people form 12 districts of the state have been hit by the calamity
  • In Assam, 1.79 lakh hectare of agricultural land has been inundated

An IndiGo Airlines Airbus A320 aircraft.  (Reuters)
The new Tejas Express will only have a single stop i.e. in Kanpur.
Commuters use their mobile phones as they wait at a bus stop with an advertisement of Reliance Industries' Jio telecoms unit, in Mumbai, July 10, 2017. REUTERS/Shailesh Andrade/Files
Commuters use their mobile phones as they wait at a bus stop with an advertisement of Reliance Industries' Jio telecoms unit, in Mumbai, July 10, 2017. REUTERS/Shailesh Andrade/Files

Reliance Jio Q1 net profit rises 46% to 891 crore; ARPU falls to 122

  • Despite larger consumer base across tariff plans, customer engagement improved with higher data usage of 11.4 GB per user per month
  • Jio's subscriber base was at 331.3 million as on 30 June, 2019

Corporate earnings for the June quarter have also failed to impress investors, with several lenders flagging stress in their books (Photo: Reuters)
Jio had reported a profit of  ₹840 crore for the March quarter on an operating revenue of  ₹11,100 crore (Mint file)
Jio had reported a profit of 840 crore for the March quarter on an operating revenue of 11,100 crore (Mint file)

Jio pips Airtel to become No. 2 by user 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

Ritesh Agarwal, founder and CEO of Oyo. (Photo: Bloomberg)
RBL Bank reported a 41% rise in net profit for the June quarter. (Photo: Ramesh Pathania/Mint)
Yuki Katsuta, global R&D head at Uniqlo, and group senior vice-president at its parent Fast Retailing.
Yuki Katsuta, global R&D head at Uniqlo, and group senior vice-president at its parent Fast Retailing.

‘Indian customers may drive the next innovation at Uniqlo’

  • Clothes should not have attitude. People should have their individuality, says Yuki Katsuta
  • We are always researching and studying trends... We want to find out what’s the next trend, and what can go on to become the next essential item

The NBFC on Friday reported 2% jump in net profit to  ₹549 crore in the June quarter. Photo: Priyanka Parashar/Mint
The NBFC on Friday reported 2% jump in net profit to 549 crore in the June quarter. Photo: Priyanka Parashar/Mint

L&T Finance to exit 8,660-crore structured finance biz

  • L&T Finance has classified its structured finance and debt capital market as 'defocused' book this quarter
  • L&T Finance said it is looking to focus on core businesses such as rural lending, housing finance and infrastructure finance

 (Reuters )
(Photo: Indranil Bhoumik/Mint)
The Nifty mid-cap gauge closed 2018 with a decline of 15%. (Photo: Hemant Mishra/Mint)
The Nifty mid-cap gauge closed 2018 with a decline of 15%. (Photo: Hemant Mishra/Mint)

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

The toll fare is directly deducted from the bank account linked to FASTag (Mint file)
The toll fare is directly deducted from the bank account linked to FASTag (Mint file)

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

Percentage of gross NPAs in Q1 climbed to 2.02% from 2.04% on a quarter-on-quarter basis (Mint file)
(Photo: Hindustan Times) (Hindustan Times)
Toyota Motor Corp. concept electric vehicles. (Bloomberg )
Toyota Motor Corp. concept electric vehicles. (Bloomberg )

Govt asserts subsidy for EVs only for commercial vehicles, not personal usage

  • Under the 10,000-crore FAME scheme, subsidy on EVs are given to three- and four-wheelers for commercial and fleet applications
  • Elaborating on the plans to promote EVs, Meghwal said that his ministry has invited proposals from entities to develop charging infrastructure in big and smart cities

(Photo: Ramesh Pathania/Mint)
Screengrab of a Garib Rath Express (Youtube )
The 103.94 km long phase-IV of Delhi metro will consist of six corridors.  (HT)
Last fiscal year, the company reported its first positive free cash flow in a decade (AFP file)
Haleja also brought to light the fact that there was an issue of serious floods in Assams which had further slowed down the NRC process.
Haleja also brought to light the fact that there was an issue of serious floods in Assams which had further slowed down the NRC process.

SC adjourns hearing in case to re-verify, extend NRC deadline

  • NRC State Coordinator Prateek Haleja apprised the court that during the sample verification, around 80 lakh people were automatically re-verified
  • The NRC exercise is aimed at identifying illegal immigrants in Assam, mostly making their way from Bangladesh

The investment is part of the group's ongoing  ₹45,000-crore capital expenditure programme (Reuters file)
The investment is part of the group's ongoing 45,000-crore capital expenditure programme (Reuters file)

JSW Steel ramps up tinplate production, takes on Tata Steel

  • The company has invested close to 1,000 crore in its Tarapur unit in Maharashtra to roll out JSW Platina
  • Once all units are operational, JSW Steel will have an installed tinplate capacity of 600,000 tonnes

India’s additional clean energy investment requirement is of around $80 billion till 2022, growing more than three-fold to $250 billion during 2023-30 (Bloomberg file)
India’s additional clean energy investment requirement is of around $80 billion till 2022, growing more than three-fold to $250 billion during 2023-30 (Bloomberg file)

REC raises $650 million in international bond market

  • The bond issuance by REC followed the $1 billion bond issued by PFC in the international market last month
  • The bond issue comes at a time when power sector lenders are recalibrating their loan portfolio in the backdrop of India’s changing energy mix