Reliance Industries Q1 net rises as telecom, retail offset refining hit

• RIL’s performance in the refining and marketing segment was affected by lower product realization y-o-y
• Revenue from the refining and marketing segment was also up 6.4% during the quarter, while the segment’s operating profit declined 15.2%

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

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

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

‘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

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

Creditors’ panel approves $10 mn interim fund for Jet Airways

• The interim funding of about ₹69 crore will be used for the corporate insolvency resolution process
• The funds will be used to hire people on contracts to verify claims made by different creditors

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

Elon Musk envisions SpaceX Starship's lunar landing by 2021

• Musk's SpaceX and NASA announced that the Dragon explosion was traced back to a leak in the craft's pressurisation system
• Earlier this year, a SpaceX Crew Dragon spacecraft was destroyed during a test firing

IndiGo board meeting to continue on Saturday, says CEO Ronojoy Dutta

• For three months ended June, InterGlobe Aviation reported its highest ever quarterly profit of ₹1,203.14 crore.
• After Gangwal sought Sebi's intervention to address governance issues, the regulator is probing the matter

RIL Q1 revenues rise 21% to ₹1.61 trillion on boost from Jio, retail

• Reliance Retail revenue rises 48% while Jio posted 46% increase in net profit
• Gross refining margins stood at $8.1 per barrel as against $10.5 per barrel in the same quarter last year; RIL's net profit rises nearly 7%

Tata Steel confirms $600 million fundraising

• The company has set a target of reducing gross debt by $1 billion in FY20
• Tata Steel has net debt of ₹1 trillion, as of March 2019

HC issues permanent injunction against Lee Pharma in plea by Mankind Pharma

• Mankind Pharma had filed a suit for a permanent injunction restraining Lee Pharmaceuticals from using the content of its website
• Mankind Pharma has various domain names registered in its name with the mark ‘Mankind’, with the main website being www.mankindpharma.com

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

IndiGo flies high in Q1 amid falling-out between promoters

• IndiGo improved its bottom line in the June quarter on account of higher sales and improved margins
• The improvement in bottomline is on account of higher sales and improved margins while jet fuel price turned softer

Salman Khan to endorse Somany Ceramics

• The brand campaign with Khan will come with the tag line ‘Zameen se Judey’ and revolve around the idea, ‘no matter how high you soar or how successful you are, you should always remain grounded’
• The company is planning aggressive expansion across the country

Amit Burman is new Dabur India chairman

• Dabur reported a 10.3% jump in consolidated net profit to ₹363 crore for the first quarter of fiscal 2020
• Amit Burman had been vice chairman of the company, known for its Real juice brand and Vatika hair oil, since 2007

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

Oyo founder Ritesh Agarwal to triple his stake with $2 bn share buyback

• Agarwal is looking to buy back a part of the equity holdings of Lightspeed Venture Partners and Sequoia India
• The investment by Agarwal has been made through RA Hospitality Holdings (Cayman), the company said in a statement

Jet Airways lenders vote on proposals for resolution under IBC

• Resolutions up for vote include a $10-million interim fund infusion into the airline, eligibility criteria for potential bidders and appointment of consultants for valuation of the company’s assets
• Jet Airways has not flown since 18 April because of funding woes