What India’s economy could look like in 2030

Visions of AI and human-machine interaction are reshaping the Indian economy. What does the future look like?

What a declining user base means for telcos in India

• India’s mobile subscriber base shrunk by 21.86 million users in March, shows data made public by the Telecom Regulatory Authority of India (Trai) on Tuesday
• This has been the trend for more than a year. Mint decodes the reasons and what this means for telecom firms.

Snapdeal may acquire ShopClues at a likely valuation of $250 million

• This will mark Snapdeal’s first purchase after it re-focused its business to unbranded categories
• The potential acquisition will mark further consolidation in India’s e-commerce sphere

AirAsia India to double its fleet; plans to start international services by Oct

• AirAsia India, which started operations on 12 June 2014, had a market share of 6.2% of the domestic traffic in April
• The official ruled out plans to induct long range A321 neo planes in its fleet

Bank of Baroda Q4 loss narrows to ₹991 crore as asset quality improves

• The provisions for NPAs declined to ₹5,550 crore as compared to ₹7,053 crore in March 2018
• According to 19 Bloomberg analysts, the bank was expected to post a profit of ₹913 crore

How EVM strong-rooms are secured as per the Election Commission

• In the past two days, video clips have gone viral, purportedly showing 'unauthorised' transportation of the EVMs at various places
• As per its guidelines, the EVMs are transported back to the reception centres under proper escort by a contingent of central paramilitary forces and state police

Should you invest in the DSP Quant Fund NFO?

• DSP Quant Fund to select stocks based on pre-determined rules to eliminate bias
• The NFO of DSP Quant Fund will remain open till 3 June

IndiGo clocks record market share at 49.9% in April

• IndiGo flew a record 54.81 lakh passengers during April
• Air India and SpiceJet flew 15.23 lakh and 14.4 lakh domestic passengers, respectively, during April

Things to consider before investing in bonds directly

• Even after investing, keep monitoring any change in the circumstances of the issuer
• Credit rating can help evaluate risk when you invest, but subsequent deterioration may not get captured well in time

TVF valuation doubles to $80 mn after fresh fundraise from Tiger

• Tiger has backed TVF on the back of a slew of successful shows, especially Kota Factory—a five-part satirical comedy series
• The investment also marks a valuation turnaround after TVF raised $6 million from Tiger last July in a down round valuing it at $40 million

NSE to continue depositing co-location revenues in escrow account: SAT

• NSE had filed petitions for interim relief and full relief
• Sebi has been asked to file its reply to NSE petitions within six weeks

DHFL falls nearly 10% as company stops accepting fresh deposits, halts renewals

• DHFL has also halted pre-mature withdrawals of existing deposits to 'help reorganise its liability management'
• Last week, Care Ratings have downgraded its bonds and loans

How Sensex behaved on results days of last three Lok Sabha elections

• Analysts caution that any disappointment on the result day could lead to correction as markets are pricing in a clear victory for the NDA govt
• In last three vote counting days, markets have seen wild swings

Investors bet on infrastructure despite mixed show over past five years

• To be sure, the new government will have a lot on its plate, especially as consumption demand has been slowing
• The NDA has also had a favourable impact on road development in the past five years

This serial entrepreneur takes the plunge to cope with business challenges

• ‘As a startup founder, you juggle responsibilities that pull you in multiple directions at once. A love of adventure helps’ says Rahul Agarwal
• To stay fit so that he’s ready for his dives, Agarwal follows an exercise routine that includes running, yoga, pranayama, meditation and swimming

When one name has myriad challenges

• Those not using a surname have amusing anecdotes, frustrated tales of handling red tape
• Some people drop their surnames to erase caste links, reject patriarchal naming traditions, or as a form of self-expression

Gold needs a bigger trigger than trade wars to find its lost charm

• Gold has lost out to the dollar in being a safe haven. It has fallen almost 5% from its Feb high of $1,340.96/oz
• For now, despite the bleak global economic outlook, the odds don’t seem to favour the precious metal

Sequoia leads $35 mn round in Biofourmis

• Firm to use funds to expand commercialization efforts in US, Asia
• The investment in Biofourmis marks Sequoia India’s second growth stage deal this year

SEBI approves Emami Cement IPO, may hit market in 6 months

• The company's combined installed capacity will be 9 million tonne with a clinker capacity of 3.2 million tonne
• It is also in the process of setting up a cement grinding plant at Kalinganagar, Odisha

Premiums for third-party liability cover under motor insurance likely to go up

• Premium for private cars over 1500 cc and two-wheelers above 350 cc is expected to continue at the FY19 rates
• In FY19, insurance premium for smaller cars of up to 1,000 cc was reduced by close to 10% compared to FY18

Top mutual fund schemes to invest in - Mint 30

• To help you choose the right funds, here is a curated list of 30 mutual fund schemes across different categories
• Mint uses qualitative and quantitative parameters to select 30 schemes out of more than 2,000 schemes

Bajaj Finance more precious than banks for investors

• Bajaj Finance has cracked the code in consumer lending
• Its cost of funds is higher than banks but it has superior margins

Inside the audit lapses that led to IL&FS crisis

How did auditors fail to notice a crisis that had been brewing on IL&FS’ balance sheets for several years?

IndusInd’s Q4 profit falls on higher provisions

• The private sector lender reported a 62% decline in net profit at ₹360 cr for the quarter ended 31 March, compared with a profit of ₹953 cr a year ago
• Provisions rose to ₹1,560 crore in the March quarter from ₹606 crore in the December quarter

DHFL shareholders fret over lock on deposits, no big scare for non-banks

• Dewan Housing Finance Corp. falls more than 9% after it stops premature refund of deposits
• Most non-bank finance company shares are unscathed as there is no large-scale worry

Opinion | Election or no election, keep investing in equity for long-term

A longer horizon helps smoothen out creases caused by short-term volatility

Small-, mid-caps work over long term

• A portfolio that has equal distributions to ICICI Prudential Nifty Next 50, Mirae Asset India Equity fund and Parag Parikh Long term equity would be a good, aggressive long-term portfolio
• Equity returns don’t happen in a smooth upward curve and there would be a lot of volatility on the way

Air travel market contracts in April due to capacity crunch

• Domestic carriers flew 1.1 million passengers in April, 4.5% less than the 1.15 million in the same month a year ago
• The contraction comes in the wake of DGCA grounding the controversial Boeing 737 Max aircraft in March for safety reasons and distressed carrier Jet Airways suspending its operations in April

After nail-biting exit polls, Bengal braces for D-day

• Local shops that dot the city crank up the volume of the transistors, with shop owners keeping their ears peeled for snatches of news
• Even though the electorate remains skeptical of the final outcome that will unfold on Thursday, some voices continued to support the status quo in the state

Opinion | Integrity at stake

It’s time the Election Commission lays down the rules of the game clearly. Its independence and fairness must be beyond doubt. It’s not just the EC, Indian democracy has a global reputation to defend

ADB to provide $750 mn loan to India for railway track electrification project

• It is the largest single non-sovereign loan ever committed by ADB to IRFC to fund the railways track electrification project
• As part of a broad modernisation programme that will help India's railway sector transition to electric power and away from dependence on fossil fuels

How managers can boost a firm’s productivity

Skills, personality traits and practices of management may be the most important determinant of a firm’s productivity, suggests a new study

British Steel collapses, costing thousands of jobs

• Some 5,000 people are employed by British Steel and an estimated 20,000 more have links to the firm's supply chain
• The High Court in London ordered British Steel Limited into compulsory liquidation

4 new judges elevated to SC as collegium rejects Centre's objections on 2 names

• Justices Aniruddha Bose, A.S. Bopanna, Bhushan Ramkrishna Gavai, and Surya Kant have been elevated to the Supreme Court
• Earlier the Centre had objected to the elevation of Bose and Bopanna citing concern over seniority

JK Lakshmi Cement Q4 net up 27.8% to ₹43.25 crore

• Total income during the March quarter rises 28.78% to ₹1,189.06 crore
• FY19 net profit drops 5.24% at ₹79.56 crore from ₹83.96 crore last year

Fears rise China could weaponise rare earths in US tech war

• A seemingly routine visit by President Xi Jinping to a Chinese rare earths company this week is being widely read as an obvious threat
• Xi's inspection tour 'is no accident, this didn't happen by chance,' said Li Mingjiang

Sebi proposes changes to buyback rules

• To make special dispensation for companies which have NBFCs and HFCs as subsidiaries
• Sebi has suggested that for all other companies it will take consolidated financial statements to determine debt-to-equity ratio

Prepare for difficult times, China's Xi urges as trade war simmers

• While China has not said whether or how it may retaliate to the measures against Huawei, state media have taken an increasingly strident and nationalistic tone
• The United States is seeking sweeping changes to trade and economic policies, including an end to forced technology transfers

Chandrayaan-2 launch to take place between July 9-16: ISRO

• According to ISRO, Chandrayaan-2 is the second lunar mission and has three modules Orbiter, Lander (Vikram) and Rover (Pragyan)
• After launch into earth bound orbit, the integrated module will reach Moon orbit using Orbiter propulsion module

MHA alerts states, UTs ahead of counting of votes

• In a statement, the ministry also said it has asked the states and UTs to maintain law and order, peace and public tranquillity
• Lok Sabha elections were held in seven phases from April 11 to May 19

L&T acquires 1,29,065 shares of Mindtree from open market

• L&T acquires 1,29,065 shares of Mindtree from the open market, taking its overall holding in the mid-sized IT company to 26.65%
• The latest stock purchase was made at ₹979.78 apiece

GSTN releases prototype of a new simplified return filing system

• It will allow users to use functionality such as drop down menus, invoice upload, upload of purchase register
• Businesses which make supplies to only consumers (B2C) have to file return form 'Sahaj'

Sterlite expects to re-open Tuticorin plant in next few months

• On May 22, 2018, anti-Sterlite protests turned violent with the agitators fighting pitched battles with the police and 13 people were killed in police firing
• The first anniversary of the incident was observed in Tuticorin on Wednesday

Jaguar woes add to challenges for India's most indebted empire — Tata Group

• Tata snapped up JLR from Ford Motor Co., and steelmaker Corus Group Plc in 2007 for $12.9 billion
• One problem is the small volume of JLR sales in China compared to the competition

Cipla Q4 net more than doubles to ₹367 cr; board okays plan to raise ₹6k cr

• The consolidated net sales rose 22% to ₹4,271 crore
• The company's board recommends a dividend of ₹3 per share

RBI not in favour of special credit window for NBFCs

• Many NBFCs came under severe liquidity pressure compelling them to bring down their reliance on CPs
• Sources said the RBI board during the two-day meeting took stock of the NBFC sector and cash crunch faced by them

Oyo becomes second-largest hotel group in China

• Oyo says it has become the second-largest hotel group in China within 18 months of its foray into the country
• With second-tier cities at its core, Oyo Hotels' chain extends deep into China's tier-2 to tier-6 cities

Sebi, bourses step up surveillance measures for markets on election results day

• Markets are likely to witness significant movements on Thursday, especially after a rally on Monday
• Surveillance and monitoring of markets have been beefed up by Sebi and stock exchanges for the trading session on Thursday