Mid-cap mayhem: Long road to recovery

• Mid- and small-cap stocks have gone through a free fall. To make matters worse, large-caps are now in trouble
• The large-cap-based BSE Sensex has been masking the pain. The bellwether gained 12% since Jan 2018, but within the large-cap universe, only a handful are driving the surge

Companies seek clarity on buyback tax from finance ministry

• Some companies have sought clarity on the applicability of the buyback tax on their offerings, which had been announced before the Budget proposal
• In the past three years, publicly traded firms bought back shares worth ₹1.43 trillion

SoftBank fund says in no hurry to exit firms in India portfolio

• SoftBank Vision Fund has no immediate plans for IPOs in India, says managing partner Munish Varma
• SoftBank, led by Masayoshi Son, recently said it plans to invest $2-4 billion in India

Supreme Court cancels registration, lease of Amrapali group

• The court directed ED to investigate the alleged money laundering by Amrapali CMD Anil Sharma and other directors of the group
• The apex court also directed Noida and Greater Noida to handover a completion certificate to the flat buyers who are already residing in various projects

The rocket science behind the bullock cart in India’s space story

• APPLE was India’s first geostationary experimental communication Satellite Project during 1977-83
• The pioneering mission was facing setbacks on various fronts

With all odds in its favour, gold hogs limelight

• Gold prices in India too soared to over ₹36,000/10gms recently, touching its life-time high
• With equity valuations remaining expensive, gold seems to be regaining its safe haven status

With sturdy Q1, Kotak Mahindra Bank seeks good pockets to lend

• Kotak Mahindra Bank reported a deceleration in loan growth to 18% for Q1 from 22% a year ago
• The management cited a slowdown in demand and flagged concerns over auto, real estate, small biz

IndiGo founders said to ready compromise deal

• Independent directors may vet every related party transaction under new accord
• The AoA of InterGlobe will be amended to expand the board to 10 directors from six

L&T Q1 results today, here's what you should watch out for

• Larsen and Toubro (L&T) will report its June-quarter results today and analysts expect a slight improvement in margins
• 'We expect order inflows of around ₹35,000 crore, a decline of 3% on the high base of last year,' said ICICI Direct report

Trump wants to mediate on Kashmir issue, PM Modi did not ask US Prez, says India

• 'No such request has been made by PM Narendra Modi to US President,' said Indian foreign ministry spokesperson Raveesh Kumar
• 'I honestly don't think Trump has the slightest idea of what he's talking about,' said Shashi Tharoor

‘Value investing hasn’t worked in past 8-9 years, but then cycles change’

Value investing focuses on the price at which a stock is bought; growth focuses more on returns and cash flows, says Vetri Subramaniam, group president and head of equity, UTI Asset Management

Small eateries log on to food delivery apps, discover new customer base

• In small cities, the apps are helping outlets expand their business and in metros, iconic joints are getting new customers
• India’s food services market is pegged at ₹4.2 tn, 65% of which comprises unorganized and unlicensed joints

Panel favours cryptocurrency ban in India

• It has suggested that the government establish a standing committee to revisit the issues addressed in the report
• Implementing the ban may not be easy, though

Monsoon may gain strength over Central India Wednesday onwards, says IMD

• At present, the major rainfall activity has been mainly confined to south peninsular India and northeast India
• Part of Haryana, Chandigarh, Delhi and West UP are also likely to witness significant increase in the rainfall activity

Draft Act has little room for owner-tenant fights

• Draft Model Tenancy Act tries to balance the rights and interests of owners, tenants
• The draft Act proposes to cap security deposit to a maximum of two months’ of rent for residential houses

How travel loans help open up new horizons

People across age groups are using different payment options to see the world and gain new experiences, without hurting their savings

Streaming sites a haven for niche films while blockbusters take to TV

• Video streaming services have become a haven for experimental films that are unlikely to find theatrical draw
• Impressions, a term used by the viewership measurement agency BARC, refer to the number of individuals in thousands of a target audience who viewed an event, averaged across minutes

Gold prices fall sharply after touching record high, silver follows suit

• Profit-taking weighed on gold prices
• Gold and prices have risen sharply this year

Delhi Metro Magenta Line hit by snag near IGI Airport's Terminal 1 station

• The Magenta Line connects Janakpuri West station in Delhi to Botanical Garden in Noida
• DMRC also tweeted about the delay to caution passengers

No new changes in online ITR forms, says CBDT

• Online ITR forms were changed and updated on 1 April itself, while utility forms meant for partial online filing were updated with the changes in May
• Updating of utility does not hamper filing of ITR as taxpayers can use utility available at any given point, said CBDT

HDFC Bank revises fixed deposit (FD) rates. Check out the latest rates here

• HDFC Bank has revised its fixed deposit interest rates effective 22 July
• The bank is offering an additional 50 basis points in interest rates to senior citizens on fixed deposits

Apex court stays NCLAT verdict in Essar Steel insolvency case

• The top court put on hold the sale of Essar Steel and said the NCLAT order should not be given effect to as of now
• The court said it would resolve issues arising from the Essar verdict expeditiously and fix an early date for hearing the case

IEA promises to use emergency stocks to cover supply disruptions

• IEA is closely monitoring the Strait of Hormuz situation
• This comes in the backdrop of India, the world's third-largest oil importer trying to buffer its consumers from any spike in global prices

PF withdrawal is tax-exempt once you complete 5 years of continuous service

• There should not be any gap in contribution to PF to avail of the continuous service clause
• If an employee finds another job and the total PF balance is transferred to the new PF account, the PF is considered to be continuous service

Greenko raises $950 million through Asia’ largest green bond

• The bond raise followed after two sovereign wealth funds agreed to pump in additional $329 million in Greenko
• Greenko’s bond issuance comes at a time when India’s emerging green economy will require additional investments of around $80 billion till 2022

TVS Motors braves slowdown in Q1, but uncertainty in sales loom ahead

• TVS Motor’s 7.2% year-on-year growth in Q1FY20 net sales to ₹4,468.6 crore is impressive
• While the management is confident of some revival in the festive season, it is also said that the second half FY20 would be less impressive than the year-ago period

Will changing dynamics crimp Amara Raja’s earnings growth?

• There are also challenges in the near term, with a price war on in the replacement market for auto batteries
• Exide and Amara Raja will have to fight for a larger share of the replacement market, when the original equipment segment is dull

Future of payment banks uncertain, says SBI report

• Payments bank face a blanket ban on any type of lending
• The payments bank model was conceptualised by RBI

Buffett’s lunch with crypto investor, who paid $4.5 million, postponed

• Justin Sun bid a record $4.57 million this year to win the chance to dine with Buffett
• Sun, who launched Tronix in 2017, said in June that he was hoping to educate Buffett on the benefits of crypto and the underlying technology, blockchain

Weak kharif season ups earnings challenges for agrochemical companies

• Insufficient rainfall in several parts of the country has delayed sowing, which was down 6.8% as of last week, as compared to this time last year
• A monsoon failure can accentuate earnings challenges for agricultural input providers, notably Rallis India and Dhanuka Agritech

CureFit aims at tenfold increase in revenue to $1 billion in next 3 years

• Health and fitness startup plans to make an initial public offering after it achieves the revenue milestone
• CureFit aims to have a total of 25 million customers in the next 3 years on the back of its global expansion

Lack of 5G spectrum for commercial use may push up auction prices

• Of 300MHz, Isro and defence department have sought 100 and 25MHz, respectively
• In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available

Government  to proceed with caution on policy to improve audit quality

• MCA will examine problems in corporate governance before imposing fresh restrictions on audit practice
• Improving audit quality is part of a larger plan to improve corporate governance

Income tax return (ITR) filing for AY 2019-20: A step-by-step guide

• ITR forms have more pre-filled information this year
• After filing your income tax return, you need to verify it

DDA Housing Scheme 2019 Draw shortly: Timing, how to watch live, other details

• For every DDA flat on offer under the DDA Housing Scheme 2019, there are about 3 applicants on an average
• DDA will be live streaming the results of the draw and also send emails and SMSes to all applicants

Auditors to India's DHFL raise red flags around quarterly results

• The Mumbai-based housing finance company has been also stung by allegations of fraud and improper lending practices
• DHFL said on Monday its audited results were largely in line with the unaudited net loss it reported on 13 July

Coalition survives to fight another day in Karnataka

• Govt says trust vote can be held after SC provides clarity over issuance of a party whip
• The Congress-JD(S) coalition tally in the assembly stands at 100, excluding the speaker

We’ve bounced back, says Isro’s Sivan week after aborted launch

• Chandrayaan-2 has docked into the intended orbit in space. The soft landing will be attempted on 7 September
• Monday’s launch was successfully executed and the soft landing will be attempted on 7 September

Millions of barrels of Iranian oil piled up at China’s ports

• A bulk of Iranian oil in China’s bonded tanks is owned by Tehran and therefore not in breach of the sanctions
• The store of oil has the potential to push down global prices if Chinese refiners decide to draw on it

Nasa plans to put first woman on Moon by 2024

• Nasa preparing to take its next giant leap with the ambitious Artemis programme
• Artemis is named after the twin sister of Apollo who is also the goddess of the Moon and the hunt

Govt presents 50-day report card, says ‘walking the talk’ on promises

• Pace of reforms, welfare and justice to all has increased when compared with the first term, says Javadekar
• ₹5 trillion economy is not just a dream. A road map has been given for it, said Javadekar

This entrepreneur hits the swimming pool to unwind

• Salt Skin founder Deviana Gupta understands the importance of leading an active life, and the impact is has on work
• The Salt Skin team is active even while in office. Instead of being hunched over their desks all the time, they take their meetings outdoors when possible

Cristiano Ronaldo won't face Vegas rape charge

• Ronaldo's attorney, Peter Christiansen, wasn't immediately available to comment
• Prosecutor Steve Wolfson said in a statement Monday that after reviewing a new police investigation, he determined that sexual assault claims can't be proven beyond a reasonable doubt and no charge will be filed

Nissan bets that the boring sedan will be the next big thing for new generation

• The sedan might be the right car for the eco-conscious driver, says Nissan’s chief of product planning Espinosa
• Over the past few decades, the auto industry, especially in North America, has been ditching four- and two-door passenger cars in favour of bigger vehicles

Global VC funding stays flat as Asia lags others in dealmaking

• The slowdown in Asia was led by reduced deal-making in China. However, funding in India continues to remain strong
• Investments in the US, Europe and Asia totalled $53 billion for the June quarter

JPMorgan shuts one of its NBFCs in India, surrenders licence

• Responding to an RTI query, RBI said 45 companies have surrendered their NBFC licences so far in 2019
• Incorporated on 27 June 1996, the company is a subsidiary of JPMorgan Special Situations (Mauritius) Ltd and part of the JPMorgan Chase Group

Markets tank on fund outflows, RBI caution, weak Q1 earnings

• Weakness in the stock markets may continue in the immediate term in the absence of any upside triggers
• Emerging markets fell on Monday as hopes of a rate cut by the US Fed dwindled

CDC Group plans to double India exposure to about $3.5 bn by 2021

• CDC’s plans to invest more in India will see the firm increase the pace of direct investments, says CEO O’Donohoe
• The CDC India portfolio currently stands at $1.7 billion across direct investments into companies and investments in private equity and venture capital funds

Congress workers, police clash during anti-govt protests in Kerala

• Youth Congress workers were staging a march in support of the ongoing week-long hunger strike by the Kerala Student's Union against the ruling Left government
• The police used stun grenades and tear gas against protestors, injuring at least 20 police officers and activists, according to reports

Opinion | An Indian glow on the dark side of the moon

India’s Chandrayaan-2 mission is a scientific endeavour to expand the frontiers of human knowledge and not just another attempt to join the lunar ‘space race’ for national glory

Why the declining sex ratio in India is a cause for worry

In a series starting today, Mint shows how the nation’s demographic profile is changing