BSE Sensex plunged 642.22 points, or 1.73%, to 36,481.09 on Tuesday (Photo: Bloomberg)
BSE Sensex plunged 642.22 points, or 1.73%, to 36,481.09 on Tuesday (Photo: Bloomberg)

A lost year for markets as all 2019 gains erased

  • The oil prices scare has added yet another worry for government that is trying to combat an economic slump
  • Sell-off in stocks continues for second straight day despite Saudi assurance

Adam Neumann, CEO of WeWork (Photo: Reuters)
Oyo founder Ritesh Agarwal is spending a major part of his time in the US to expand his company’s presence in the world’s largest economy (Photo: Ramesh Pathania/Mint)
Oyo founder Ritesh Agarwal is spending a major part of his time in the US to expand his company’s presence in the world’s largest economy (Photo: Ramesh Pathania/Mint)

Oyo  to  raise  $200  mn for luxury push in US

  • Oyo’s strategy to raise debt for buying hotels in the US is one that it has followed in India and Europe as well
  • The company, which bought Hooters Casino Hotel in Las Vegas last month, has identified the premium hotels segment as its area of focus outside India

For 335 publicly traded firms on the BSE 500 index excluding banks, financials, and oil and gas companies, ICR worsened to 3.3 times in the June quarter from 3.33 times in the March quarter (Photo: Mint)
For 335 publicly traded firms on the BSE 500 index excluding banks, financials, and oil and gas companies, ICR worsened to 3.3 times in the June quarter from 3.33 times in the March quarter (Photo: Mint)

Debt woes worsening despite RBI rate cuts

  • Aggregate profit growth declined 5.41% in Q1FY20 from a growth of 20% in the year earlier for 335 listed firms
  • The interest coverage ratio, which measures the ability of businesses to pay interest on their loans, fell to a 13-quarter low in the June quarter

Your morning ritual now travels with you!

Try Mint E-paper
Videos
View All
Gautam Thapar (Photo: Ramesh Pathania/Mint)
(Photo: Reuters)
(Photo: Reuters)

Oil prices sink 5% as quick Saudi output recovery seen

  • In the space of several minutes in afternoon European trading, North Sea Brent crude oil for delivery in Nov tumbled from $67.75 to $65
  • The spike in the oil price had stoked fears that costlier energy and geopolitical instability could weigh on an already slowing global economy

Rosneft chairman Igor Sechin with oil minister Dharmendra Pradhan in Delhi on Tuesday.  (Photo: PTI)
Finance Minister Nirmala Sitharaman (Photo: Reuters)
Finance Minister Nirmala Sitharaman (Photo: Reuters)

'Blueprint ready': Govt mulling fourth booster dose to revive economy

  • The blueprint for the stimulus is ready, which would be announced by FM Nirmala Sitharaman in the next few days, a govt official said
  • The first set of announcements was made on 23 August that included rollback of the enhanced surcharge imposed on foreign portfolio and domestic investors

Day’s most important news delivered to your inbox with our newsletters!

Subscribe for free
Mark to Market
View All
External affairs minister S. Jaishankar at a media briefing in New Delhi (Photo: Pradeep Gaur/Mint)
External Affairs Minister S Jaishankar during a press conference on completion of first 100 days of MEA in the present government, in New Delhi, Tuesday, Sept. 17, 2019.  (Photo: PTI)
External Affairs Minister S Jaishankar during a press conference on completion of first 100 days of MEA in the present government, in New Delhi, Tuesday, Sept. 17, 2019. (Photo: PTI)

PoK part of India, expect to have physical jurisdiction over it: Jaishankar

  • The government has maintained that henceforth talks with Pakistan would be only about PoK and not on Kashmir
  • 'Our position has, is and will always be very clear on PoK, that it is part of India and we expect one day we will have physical jurisdiction over it,' Jaishankar told reporters

Out of the 87,000 debenture holders who had been asked to be party to the resolution plan being deliberated upon by banks, only 24,400 debenture holders, or less than 30%, had responded before the due date earlier this month
Out of the 87,000 debenture holders who had been asked to be party to the resolution plan being deliberated upon by banks, only 24,400 debenture holders, or less than 30%, had responded before the due date earlier this month

DHFL's resolution plan hits a major roadblock

  • Only a small segment of bondholders have agreed to be on board the proposed resolution
  • The process has been further complicated as certain bondholders have also initiated a process to take DHFL to bankruptcy court

It is likely that the stressed assets to advances ratio for banks again worsened in the June quarter, after having improved in 2018-19.
It is likely that the stressed assets to advances ratio for banks again worsened in the June quarter, after having improved in 2018-19.

Is India prepared for a global shock?

Eleven years after the Lehman collapse, India has less ammunition to stimulate its economy but India’s balance-sheet still appears better than it was during the 2013 mini-crisis

Plain Facts
The OnePlus 7T
Currently, the EPFO is paying an interest rate of 8.55% for 2018-19 under EPF withdrawal claims ( Photo: Priyanka Parashar/Mint)
Xiaomi India MD Manu Kumar Jain with Xiaomi's IoT products.
Long Reads
Latest data shows that WPI- and CPI-based inflations are digressing further from each other
Latest data shows that WPI- and CPI-based inflations are digressing further from each other

Static WPI inflation adds to slowdown worries

  • Wholesale prices of manufactured products in August were at the same level as a year ago, signalling that producers lacked pricing power
  • RBI has been focusing only on CPI-based inflation after a 2015 monetary framework pact with the Centre

Indian originals are, incidentally, also grabbing eyeballs overseas (Photo: AP)
Indian originals are, incidentally, also grabbing eyeballs overseas (Photo: AP)

Amazon Prime Video targets ‘many Indias’ for growth

  • The service currently offers content in Hindi, Tamil, Telugu, Kannada, Malayalam, Marathi, Bengali, Punjabi and Gujarati
  • Amazon content is currently watched in about 4,000 Indian towns and cities

BSP supremo Mayawati. (ANI)
In recent months, the IAF has initiated a major upgradation of its Ambala air base for the deployment of the Rafale. (Reuters )
In recent months, the IAF has initiated a major upgradation of its Ambala air base for the deployment of the Rafale. (Reuters )

Why Rafale jets may be inducted into IAF by next summer only

  • India will have to wait till April-May before the delivery of jets begins
  • Rafale jet is a very good aircraft and when it comes into the subcontinent, it will be a game changer because it has significant capabilities, says B. S. Dhanoa, Chief of the Air Staff

Home minister Amit Shah at an event of the All India Management Association, in New Delhi on Tuesday (Ramesh Pathania/Mint)
Home minister Amit Shah at an event of the All India Management Association, in New Delhi on Tuesday (Ramesh Pathania/Mint)

Will never compromise on nation’s security: Shah

  • Till 17 September, not one bullet had been fired in Kashmir and peace prevailed in the valley, despite the teething problems in big policy decisions, said the home minister
  • 'The party's decisions are not based on vote bank politics but on what leads to the development of the people'

Senior Congress leader D.K. Shivakumar outside the CBI special court in New Delhi on Tuesday.pti
So far this year, the Sensex has gained 1.14% (Mint file)
Ramkumar Ramamoorthy, CMD, Cognizant India.
Commerce and industry minister Piyush Goyal (PTI file)
On 14 September, 10 unmanned drones from Yemen caused severe damage to oil facilities in Saudi Arabia’s Eastern Province, north of Riyadh. (Photo: Reuters)
On 14 September, 10 unmanned drones from Yemen caused severe damage to oil facilities in Saudi Arabia’s Eastern Province, north of Riyadh. (Photo: Reuters)

How India can play drone diplomacy

  • Given the Houthi attack on Saudi oil facilities, West Asia urgently needs a peace process. India should take the lead
  • In West Asia, India has an eight million-strong resident community, whose welfare is of paramount importance not only to the Centre but also several state governments

When the bank is held responsible: According to RBI’s guidelines, a customer has zero liability if unauthorized transaction occurs because of two reasons. (Photo: iStock)
When the bank is held responsible: According to RBI’s guidelines, a customer has zero liability if unauthorized transaction occurs because of two reasons. (Photo: iStock)

What to do if you lose money to a bank fraud

  • While you may be able to recover the money, the process takes time
  • People should avoid using unsecured WiFi and have the latest anti-virus software on their devices

Investors can also choose to have the demat and trading accounts with different service providers.
Investors can also choose to have the demat and trading accounts with different service providers.

Demat, trading accounts can be unbundled

  • Investors can also choose to have just a demat account
  • However, if at any time, they intend to sell the securities, they will need to open a trading account and link the demat account to it

Photo: Mint
Photo: Mint

Bajaj Finance to raise Rs8,500 crore via QIP

  • Bajaj Finance board approves raising of capital through QIP for an aggregate amount not exceeding Rs8,500 crore by issue of equity shares
  • Stock of Bajaj Finance closed 1.54% lower at Rs3,365.65 on the BSE

The rupee opened at 71.83 against the dollar (Mint file)
Sensex fell over 700 points at day's low
All these benefits are available only when IDF is set up as per the prescribed guidelines and fulfil required conditions (Photo: Mint)
Meddo has on-boarded over 400 doctors and 200 clinics in Delhi NCR (Photo: Mint)
Meddo has on-boarded over 400 doctors and 200 clinics in Delhi NCR (Photo: Mint)

Meddo raises $3 million in pre-Series A funding led by SRI Capital

  • LetsVenture, growX Ventures, Citrus Pay co-founder Jitendra Gupta and Venture Gurukool were among others who participated in pre-Series A funding
  • Meddo offers both offline and online healthcare services like doctor appointments, diagnostics tests through a tie-up with standalone doctor-led establishments and accredited testing lab

Former Kolkata police commissioner Rajeev Kumar (Mint file)
Representational image (Photo: Aniruddha Chowdhury/Mint)
Debt and equity sit on the same side of any company’s balance sheet, but are very different species.
Photo: Alamy
(Photo: Priyanka Parashar/Mint)
Facial recognition systems save time spent in queues. (Photo: Reuters)
Facial recognition systems save time spent in queues. (Photo: Reuters)

Soon, forgetting a passport need not be your greatest travel fear

Biometrics and software match faces more accurately than the manual processes

Prime Minister Narendra Modi (AP Photo/Ajit Solanki) (AP)
Prime Minister Narendra Modi (AP Photo/Ajit Solanki) (AP)

Opinion | The PMO needs more power to achieve a $5 trillion economy

Given the issues with our bureaucratic system, concentration of power is the need of the hour

For Yes Bank, point-of-sale financing could be a growth avenue. (Photo: Reuters)
For Yes Bank, point-of-sale financing could be a growth avenue. (Photo: Reuters)

Opinion | Bank’s race against crisis puts India on alert

  • Altico’s unraveling shows that an end to credit woes is not yet in sight
  • At more than $200 billion, India’s world-beating pile of bad loans is bigger than Italy’s

The 282ft building has several breakout zones (Photo: Kumar/Mint)
Photo: Bloomberg
Photo: Bloomberg

Opinion | Even sectoral solutions call for a broader economic outlook

The Modi government should not limit itself to sectoral policy responses each time there is trouble in one part of the economy

Most financial advisers and planners say that Indians are under-insured in terms of health cover. (Photo:iStock)
Won’t buy products that combine investment and insurance (Photo: Sai Sen/Mint)
Won’t buy products that combine investment and insurance (Photo: Sai Sen/Mint)

Tailor your money plan to your risk appetite

  • Risk-averse Madans took a planner’s help to smoothen their financial life
  • The family is on course to achieve their goals with minimal exposure to risky assets, and having a planner has smoothened their risk-averse financial journey

Photo: Aniruddha Chowdhury/Mint
Photo: iStock
Continued slump in the value of the rupee means fuel prices are likely to go up, making your commute expensive (Photo: iStock)
Continued slump in the value of the rupee means fuel prices are likely to go up, making your commute expensive (Photo: iStock)

Four ways in which the falling rupee can impact your money

  • Apart from paying high fuel prices, you may also end up shelling more for education and travel abroad
  • One of the biggest mistakes people make while planning for an overseas education is ignoring inflation

In the last 50 years, India has led the pack of arms importers in the world with a 7% share. (Mint)
The Kartarpur corridor that will connect Darbar Sahib in Kartarpur with Dera Baba Nanak shrine in Gurdaspur district of Punjab is expected to open in November. AFP
The Kartarpur corridor that will connect Darbar Sahib in Kartarpur with Dera Baba Nanak shrine in Gurdaspur district of Punjab is expected to open in November. AFP

No delays in Kartarpur corridor work: Jaishankar

  • Foreign minister rules out any meeting between Modi and Pakistan PM Khan in US
  • The Kartarpur corridor, once ready, will allow Indian pilgrims to cross over to Pakistan

Today it looks almost impossible that as a nation we will move to the habit of abiding by rules
Today it looks almost impossible that as a nation we will move to the habit of abiding by rules

Opinion | An aspiring $5 trillion nation needs new role models

India will get to a new habit of following rules, but we need role models to look up to

The Hero Motors Lectro EHX20 e-bike stands on display during a news conference in New Delhi on 17 Sept. 2019 (Photo: Bloomberg)
The Hero Motors Lectro EHX20 e-bike stands on display during a news conference in New Delhi on 17 Sept. 2019 (Photo: Bloomberg)

Hero’s Munjal makes a case for shift to electric cycles, unveils Lectro

  • Hero launched Lectro e-cycles in collaboration with Japan’s Yamaha Motor and Mitsui, priced at 130,000
  • Hero Cycles has also been urging the union government to include such electric cycles in the second phase of the Faster Adoption and Manufacturing of Electric Vehicles scheme

In any future conflict, it must be air power that would play a leading role. (Mint)
Take a trip to Victoria
Individuals can also open, maintain and hold foreign currency accounts with banks outside India for carrying out transactions permitted under the scheme
Individuals can also open, maintain and hold foreign currency accounts with banks outside India for carrying out transactions permitted under the scheme

What is Liberalised Remittance Scheme and what’s it used for?

  • According to the prevailing regulations, resident individuals may remit up to $250,000 per financial year
  • The remitted amount can also be invested in shares, debt instruments, and be used to buy immovable properties in overseas market

The sale of the wind power JV may be completed by the third quarter of this fiscal.  (Photo: Bloomberg)
External affairs minister S. Jaishankar at a media briefing in New Delhi (Photo: Pradeep Gaur/Mint)