A likely leadership churn at Mindtree is seen as a key risk to L&T’s hostile takeover bid.
A likely leadership churn at Mindtree is seen as a key risk to L&T’s hostile takeover bid.

A culture shock awaits Mindtree employees under L&T

  • Mindtree has an informal work culture: many of its employees call members of the founding team by their first names
  • In contrast, Larsen and Toubro's (L&T) work culture is based on command-and-control and top-down management

Prime Minister Narendra Modi being welcomed by BJP National President Amit Shah as he arrives to attend the BJP Central Election Committee (CEC) meeting.  (PTI )
Prime Minister Narendra Modi being welcomed by BJP National President Amit Shah as he arrives to attend the BJP Central Election Committee (CEC) meeting. (PTI )

BJP's first Lok Sabha candidate list out, PM Modi to contest from Varanasi

  • PM Narendra Modi to contest from Varanasi, BJP president Amit Shah from Gandhinagar in place of L K Advani
  • Union ministers V K Singh, Mahesh Sharma, Smriti Irani to fight from Ghaziabad, Noida, Amethi, respectively

 Nirav Modi.
Nirav Modi.

Not a very Happy Holi for Nirav Modi in UK jail

  • Nirav Modi, one of India's richest men accustomed to the high-life and celebrity circles around the world, will be faced with some harsh conditions at the prison
  • The living conditions will certainly be in stark contrast to the luxury apartment at Centre Point in the West End of London where Modi has been living over the past year

The board of the IT company had met on Wednesday too, but no decision was taken on the agenda item at hand. (Mint)
The board of the IT company had met on Wednesday too, but no decision was taken on the agenda item at hand. (Mint)

Mindtree board to meet again on 26 March

  • L&T has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32 % stake in Mindtree
  • Mindtree CEO and promoter Rostow Ravanan said the company's board would deliberate on the buyback or the open offer within the framework of the law

Facebook logo.  (AFP )
Punjab National Bank maintains the $2 billion PNB fraud, perpetrated by Nirav Modi at the bank's Brady House branch in Mumbai, was not the result of a systemic problem. (Abhijit Bhatlekar/ Mint)
Punjab National Bank maintains the $2 billion PNB fraud, perpetrated by Nirav Modi at the bank's Brady House branch in Mumbai, was not the result of a systemic problem. (Abhijit Bhatlekar/ Mint)

How PNB fraud exposed chinks in India's banking industry

  • Nirav Modi's arrest seen as a milestone in India's efforts to deal with those attempting to dupe the banking industry
  • An increasing number of bank frauds has led to bankers becoming very cautious in making lending decisions

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SBI chairman Rajnish Kumar. (PTI)
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At present, Pierer Industrie AG holds approximately 62% of the shares of KTM Industries AG.  (Mint)
At present, Pierer Industrie AG holds approximately 62% of the shares of KTM Industries AG.  (Mint)

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

  • Bajaj Auto and Pierer Industrie AG have started discussions to assess the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG
  • The transaction decision is targeted to be made in the second quarter of 2019

The Netflix logo. (Reuters)
The Indian market is crucial for Venezuela's economy because it has historically been the second-largest cash-paying customer for the OPEC country's crude, behind the United States. (AFP)
The Indian market is crucial for Venezuela's economy because it has historically been the second-largest cash-paying customer for the OPEC country's crude, behind the United States. (AFP)

Reliance selling fuels from India to Venezuela to avoid US sanctions

  • At least three vessels chartered by Reliance supplied refined products to Venezuela in recent weeks
  • In a statement last week, Reliance said its US unit has completely stopped all business with PDVSA

The new management of Religare Enterprises has carved out a well-defined business strategy, which will help capitalize the existing ecosystem under a new brand. (Pradeep Gaur/Mint)
The new management of Religare Enterprises has carved out a well-defined business strategy, which will help capitalize the existing ecosystem under a new brand. (Pradeep Gaur/Mint)

Religare Enterprises rebranding Finvest after Singh brothers exit

  • Religare Enterprises is looking to spruce up Religare Finvest under a new brand and investment of 600 crore to 're-orient' the business
  • Religare Enterprises is in advanced talks with two marque domestic equity investors for growth capital for Religare Finvest

Facebook. (AP)
Facebook. (AP)

Facebook admits storing passwords in plain text

  • The blunder was uncovered during a routine security review early this year, according to Canahuati
  • The exact number had yet to be determined, but archives with unencrypted user passwords were found dating back to the year 2012

The logo of IndiGo Airlines. (Reuters )
The logo of IndiGo Airlines. (Reuters )

IndiGo continues to recruit expat and 'out-of-job' pilots

  • Shortage of trained and experienced pilots has been an issue for domestic airlines amid capacity expansion
  • IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet

Facebook CEO Mark Zuckerberg. Facebook has made over 50 acquisitions, the biggest among of them being Instagram and WhatsApp. (AP)
Facebook CEO Mark Zuckerberg. Facebook has made over 50 acquisitions, the biggest among of them being Instagram and WhatsApp. (AP)

Facebook eyeing investments in content startups in India

  • Facebook is in early-stage talks with several content startups, including PoPXo for potential investments
  • Any startup funding would also be a departure from Facebook’s usual strategy of buying companies outright

Union Minister Smriti Irani. (ANI)
Union Minister Smriti Irani. (ANI)

Smriti Irani to again take on Rahul Gandhi from Amethi

  • The Congress has earlier announced the candidature of Rahul Gandhi from Amethi in Uttar Pradesh
  • The Lok Sabha elections 2019 will be conducted in seven phases starting from 11 April and will continue till 19 May

Shashi Tharoor, Congress MP from Thiruvananthapuram.
Stone will report to Chief Executive Jim Hackett (AP)
Stone will report to Chief Executive Jim Hackett (AP)

Ford names Amazon veteran Tim Stone as CFO

  • Tim Stone, 52, replaces Bob Shanks, who will retire at the end of 2019 after serving the company for 42 years
  • Tim Stone will take over as CFO on 1 June

Union Minister and BJP leader JP Nadda shows the first list of candidates for the upcoming Lok Sabha elections, at party office in New Delhi.  (PTI)
Two policemen - a Station House Officer (SHO) and his security guard - and a civilian were injured earlier on Thursday when militants hurled a grenade at security forces in Warpora area of Sopore town. (ANI)
Two policemen - a Station House Officer (SHO) and his security guard - and a civilian were injured earlier on Thursday when militants hurled a grenade at security forces in Warpora area of Sopore town. (ANI)

Three gunfights on in Kashmir Valley, 1 militant killed

  • Police said one militant was killed in the exchange of fire between security forces and the militants in Mir Mohalla of Hajin area in Bandipora
  • The first gunfight erupted in Sopore town, two other gun battles were reported later from Bandipora and Baramulla districts

Interest due for the period between 1 March to 17 March, 2019 and was not paid. (Mint)
A worker assists his colleague during the lifting of a turbine engine of the Lion Air flight JT610 jet, at Tanjung Priok port in Jakarta, Indonesia.  (Reuters )
A worker assists his colleague during the lifting of a turbine engine of the Lion Air flight JT610 jet, at Tanjung Priok port in Jakarta, Indonesia. (Reuters )

Indonesia seeks answers as Ethiopian crash comparisons mount

  • A final report on the Lion Air crash, which has taken on new urgency since the Ethiopian one, is expected in August
  • Initial investigations show similarities between Ethiopian crash and Indonesian accident in Oct that killed all 189 crew and passengers

Tata Steel.  (Reuters )
PNB fraud accused Nirav Modi. (HT)
PNB fraud accused Nirav Modi will remain in police custody in London till his extradition hearing on 29 March. (HT)
PNB fraud accused Nirav Modi will remain in police custody in London till his extradition hearing on 29 March. (HT)

Nirav Modi arrested in London on India's extradition request, denied bail

  • While Nirav Modi informed court of his intention to contest India’s extradition request, he also offered to post £500,000 for bail—which was rejected
  • Nirav Modi's arrest, on the same day that Narendra Modi launched the 'Main Bhi Chowkidar' campaign, should help BJP influence electoral optics

Mindtree promoters have opposed L&T hostile takeover bid. (Mint)
The Maruti Suzuki Vitara Brezza. Suzuki and Toyota are expanding their alliance to the global level—from India to Africa and also Europe. (Ramesh Pathania/Mint)
The Maruti Suzuki Vitara Brezza. Suzuki and Toyota are expanding their alliance to the global level—from India to Africa and also Europe. (Ramesh Pathania/Mint)

Maruti Suzuki Vitara Brezza to be made at a Toyota India plant from 2022

  • Toyota and Suzuki will also jointly develop a Toyota minivan that will be supplied to Suzuki in India
  • Toyota and Suzuki seek to popularize hybrid-electric vehicles in India by sourcing of systems, engines and batteries locally

Jet pilots along with engineers and senior management have not been paid for more than three months. (Abhijit Bhatlekar/Mint)
Vodafone Idea had in January approved the rights issue for existing shareholders. (Reuters)
Vodafone Idea had in January approved the rights issue for existing shareholders. (Reuters)

Vodafone Idea prices 25,000 crore rights issue at 12.5 a share

  • Vodafone Idea shareholders will be able to buy 87 shares for every 38 shares held for an issue price of 12.50 apiece, a 60% discount
  • The rights issue will increase the number of Vodafone Idea shares by 229%, diluting it to 28.74 billion outstanding shares

The Blackstone-Embassy REIT plans to raise  ₹4,750 crore in the IPO by issuing units in a price band of  ₹299-300 apiece. (Mint)
The Blackstone-Embassy REIT plans to raise 4,750 crore in the IPO by issuing units in a price band of 299-300 apiece. (Mint)

Investors give a thumbs up to Embassy Office Parks REIT IPO

  • As of 5.30pm on Wednesday, the Blackstone-Embassy REIT IPO was subscribed 2.58 times
  • Institutional investors subscribed to 215% of the shares alloted for them in the Embassy REIT IPO, retail subscription stood at 310%

Naresh Goyal-led Jet Airways is facing the worst financial crisis of its 25-year existence with more than one billion dollars of debt. (Photo: Reuters)
Naresh Goyal-led Jet Airways is facing the worst financial crisis of its 25-year existence with more than one billion dollars of debt. (Photo: Reuters)

Jet Airways' pilots write to PM on non-payment of salaries

  • While the airline is going through a tough financial phase, all employees except for pilots and engineers are getting paid on time: National Aviators Guild
  • Two days ago, the Jet Airways' pilots had threatened to stop flying from 1 April if their pending salaries are not cleared by 31 March

This deal is a testament to the strong Xerox-HCL relationship that has grown over the past 10 years, says HCL Tech CEO C. Vijayakumar.
This deal is a testament to the strong Xerox-HCL relationship that has grown over the past 10 years, says HCL Tech CEO C. Vijayakumar.

HCL Technologies wins $1.3 billion contract from Xerox

  • HCL Tech expects to generate $1.3 billion in revenue over the next seven years from its contract with Xerox
  • The deal marks the renewal of HCL Tech’s engagement with Xerox, which had first awarded a ten-year contract in 2009

CoinDCX founders Sumit Gupta (left) and Neeraj Khandelwal.
CoinDCX founders Sumit Gupta (left) and Neeraj Khandelwal.

Bain Capital Ventures invests in crypto trading platform CoinDCX

  • CoinDCX will use the funding from Bain Capital Ventures to scale its tech infra, introduce new products, says co-founder Sumit Gupta
  • CoinDCX is looking to be a platform that provides investors with a complete set of financial instruments to trade their digital assets

Jayashree P. Kunju, chief executive of IBAS Global. She is one of the few upwardly mobile urban women vocal about their history with the disease. (Jithendra M./Mint)
Jayashree P. Kunju, chief executive of IBAS Global. She is one of the few upwardly mobile urban women vocal about their history with the disease. (Jithendra M./Mint)

Life after leprosy, India’s untamed disease

  • One person is diagnosed with leprosy roughly every four minutes in India, accounting for 60% of all new leprosy cases annually
  • Though leprosy is completely curable, the stigma associated with the disease and social isolation of those affected still persists

At 29.6 years, the average age of the Chennai squad, like several years in the past, is almost four years more than Delhi, Punjab, Rajasthan, and Bangalore. (PTI)
At 29.6 years, the average age of the Chennai squad, like several years in the past, is almost four years more than Delhi, Punjab, Rajasthan, and Bangalore. (PTI)

How the teams in IPL 2019 stack up on experience

When it comes to balancing myriad factors in team composition, last year’s finalists—Chennai and Hyderabad—look most settled in this year’s IPL too

Thirukumaran Nagarajan, chief executive and co-founder, Ninjacart. Ninjacart started as a B2C hyperlocal grocery delivery platform in 2015.
Thirukumaran Nagarajan, chief executive and co-founder, Ninjacart. Ninjacart started as a B2C hyperlocal grocery delivery platform in 2015.

How Ninjacart became a B2B agritech startup

  • Ninjacart realised that while there was consumer demand for online vegetables marketplace, the supply side was too fragmented
  • Ninjacart then pivoted to a B2B agritech platform to to solve one of the toughest agricultural supply chain problems at its root

The association with actor Benedict Cumberbatch underlines MG Motor's unique British heritage, says Morris Garage.
GSPC holds a participating interest in 21 hydrocarbon blocks, both onshore and offshore. (Bloomberg)
GSPC holds a participating interest in 21 hydrocarbon blocks, both onshore and offshore. (Bloomberg)

GSPC to sell 12 of its 21 hydrocarbon blocks to pare debt

  • GSPC had hired consulting firm EY in 2016 to prepare a report on the stake sale, in an attempt to reduce its debt
  • Five of the blocks put on sale are operated by ONGC, 3 by GNRL, 2 by GSPC, and 1 each by Sun Oil and Oilex

'Here, I don’t get calls about supplying an electric car but I get requests for a Maybach 650', says Mercedes-Benz India CEO Martin Schwenk. (Getty Images)
'Here, I don’t get calls about supplying an electric car but I get requests for a Maybach 650', says Mercedes-Benz India CEO Martin Schwenk. (Getty Images)

'Lower GST on luxury cars will help Mercedes sell more, benefit Indian economy'

  • Mercedes-Benz India CEO Martin Schwenk says demand for luxury cars in India is likely to revive in the second half of 2019
  • A higher GST rate on luxury cars, import duty structure impacts localization, says the CEO

Khushru Jijina, managing director of Piramal Capital and Housing Finance Ltd. (Aniruddha Chowdhury/Mint)
KKR has committed about $2 billion in equity and debt across nearly 50 real estate transactions in the region including South Korea, Australia, China and India since 2011. (Twitter/KKR_Co)
KKR has committed about $2 billion in equity and debt across nearly 50 real estate transactions in the region including South Korea, Australia, China and India since 2011. (Twitter/KKR_Co)

KKR said to raise first Asia real estate fund, targeting $1.5 billion

  • The fundraising comes as private equity firms globally have expanded from a model of buying out companies to turn around and sell for profit
  • KKR has been building out new capabilities outside traditional private equity investments in Asia

Polio drops, which carry weakened polio viruses, are given to children below five years under a government programme. (AFP)
Goa chief minister Pramod Sawant (PTI)
Pakistan’s move has caused flight disruptions for domestic and foreign airlines operating in India. HT
Tencent is up 16% this year, compared with a 32% rise for New York-listed Alibaba. (Reuters)
Tencent is up 16% this year, compared with a 32% rise for New York-listed Alibaba. (Reuters)

Tencent profit misses estimates as games slip, costs swell

  • Net income fell 39% to $2.1 billion in the three months ended December
  • Tencent is said to be clearing out about 10% of managers to make room for younger executives as it confronts a slowdown in growth

China, the world's largest mobile phone market, is trying to promote recycling of electronic waste, or e-waste, to improve its environment, cut costs and ease its dependence on foreign resource imports. (AP)
China, the world's largest mobile phone market, is trying to promote recycling of electronic waste, or e-waste, to improve its environment, cut costs and ease its dependence on foreign resource imports. (AP)

Value of China's metal e-waste to double to $24 billion by 2030: Greenpeace

  • Greenpeace said rising consumption levels would take the potential economic value of recyclable metals in mobile phone and computer motherboards to about $23.96 bn by 2030
  • If other electronic waste products are taken into account, the potential value would be higher

Regulators want to be absolutely sure of Boeing's new automated control system, known as MCAS (Maneuvering Characteristics Augmentation System), and that pilots are fully prepared to handle it.  (Reuters)
Regulators want to be absolutely sure of Boeing's new automated control system, known as MCAS (Maneuvering Characteristics Augmentation System), and that pilots are fully prepared to handle it.  (Reuters)

Boeing, FAA officials called to testify in US Senate on 737 MAX plane crashes

  • The Senate hearing would be the first time that a US congressional committee has called Boeing executives to appear for questioning about 737 MAX passenger plane crashes
  • For now, more than 350 MAX aircraft are grounded, and deliveries of nearly 5,000 more - worth more than $500 billion - are on hold

The introduction of the feature comes just a couple of weeks after Facebook CEO Mark Zuckerberg announced his plan to make Facebook more privacy-focused and merge services like WhatsApp, Instagram and Facebook.
The introduction of the feature comes just a couple of weeks after Facebook CEO Mark Zuckerberg announced his plan to make Facebook more privacy-focused and merge services like WhatsApp, Instagram and Facebook.

Facebook brings quoted message replies to Messenger

  • To make use of the feature, users would have to long-press on the text to which they want to reply and tap on the "reply" icon
  • The feature works for responding to individual GIFs, videos, emoji, text and photo messages

SenseTime, last valued at more than $4.5 billion, is said to be aiming to raise new funds this year. (Bloomberg)
SenseTime, last valued at more than $4.5 billion, is said to be aiming to raise new funds this year. (Bloomberg)

World's biggest AI startup exploring self-driving cars, global expansion

  • SenseTime is actively seeking out investments in fellow startups that can benefit from its own technology
  • SenseTime’s 200 AI scientists will prove invaluable in spotting investment opportunities beyond the dozen or so startups it’s already backed

Under Ghosn, Nissan pledged to invest $9 billion over five years in China and introduce 20 electrified models by 2022. (Reuters)
Under Ghosn, Nissan pledged to invest $9 billion over five years in China and introduce 20 electrified models by 2022. (Reuters)

Nissan cuts China sales outlook as car market sputters

  • Nissan is cutting a future target for China car sales by about 8%
  • The revision is being discussed as CEO Hiroto Saikawa embarks on a program to put profitability before growth in sales volume