Companies

The company's total income stood at  ₹11,031.27 crore during the quarter under review.
The company's total income stood at 11,031.27 crore during the quarter under review.

UltraTech Cement Q4 net profit at 1,014 crore

  • The company had posted a net profit of 446.13 crore in the January-March quarter a year ago, UltraTech Cement said in a BSE filing
  • Its total expense in the fourth quarter of 2018-19 came at 9,554.43 crore

Giving a major relief to budding entrepreneurs, the government in February relaxed the definition of start-ups. (iStock)
Giving a major relief to budding entrepreneurs, the government in February relaxed the definition of start-ups. (iStock)

342 startups get angel tax exemption since February

  • Giving a major relief to budding entrepreneurs, the government in February relaxed the definition of start-ups
  • Section 56(2)(viib) of the I-T Act provides that the amount raised by a start-up in excess of its fair market value would be deemed as income from other sources and would be taxed at 30%

It can be noted that the 10% minimum shareholding is defined under Section 241 of the Companies Act, 2013. (HT)
It can be noted that the 10% minimum shareholding is defined under Section 241 of the Companies Act, 2013. (HT)

ITC moves NCLT seeking to cancel Hotel Leelaventure sale;hearing on June 18

  • JM Financial ARC had filed insolvency application against the Mumbai-based hotel chain in January, which owes around 5,900 crore to lenders
  • As per the information available with the bourses, ITC holds 7.92% stake in Hotel Leelaventure as of the December 2018 quarter

The move comes at a time when Uber is preparing to launch its
The move comes at a time when Uber is preparing to launch its "roadshow" to pitch its company to prospective investors in the week of April 29, setting up for an early May debut on the New York Stock Exchange. (Reuters)

Uber aligns India business with Europe: Amit Jain to quit end May

  • Uber said it has appointed Pierre-Dimitri Gore-Coty to take responsibility for Uber's Asia-Pacific rides business
  • The company is expected to raise $10 billion at a $90 billion to $100 billion valuation

 (Photo: Reuters)
Since 2000, HP has utilized more than 199 million pounds of recycled plastic into 3.9 billion HP Original ink and toner cartridges.
Since 2000, HP has utilized more than 199 million pounds of recycled plastic into 3.9 billion HP Original ink and toner cartridges.

Sustainability in the workplace is no longer optional: Study

  • A study by HP reveals office workers are more likely to leave companies that don’t implement sustainable business practices
  • The global 20,000 participant survey found that 61% believe sustainability is mandatory for businesses

 (Photo: Ramesh Pathania)
TikTok, a short video mobile application, allows users to create and share short videos with special effects which are hugely popular. (Bloomberg)
TikTok, a short video mobile application, allows users to create and share short videos with special effects which are hugely popular. (Bloomberg)

Investors pour millions into startups despite regulatory hurdles

  • Investors believe that they can engage with the government to find an appropriate regulatory framework to operate in
  • Investors say that if you take a long-term view, these regulations will come and go, and they are careful to examine whether these are temporary and narrow in scope, or long term and nationwide

Leela plans to sell assets of Hotel Leelaventure comprising key hotel properties in Delhi, Bengaluru, Udaipur and Chennai for  ₹3,950 crore to Canadian alternative asset management company Brookfield. (Pradeep Gaur/Mint)
Leela plans to sell assets of Hotel Leelaventure comprising key hotel properties in Delhi, Bengaluru, Udaipur and Chennai for 3,950 crore to Canadian alternative asset management company Brookfield. (Pradeep Gaur/Mint)

Sebi orders pause on Leela's deal with Brookfield

  • Leela said that they have received a letter from Sebi that the transaction should be put on hold till further directions from the regulator
  • Sebi's letter to Leela is on the basis of complaints filed by ITC Ltd and LIC

 (Photo: Abhijit Bhatlekar/Mint)
In the last year or so, IBREL has been streamlining its real estate portfolio, exiting office and residential projects in markets like Chennai. (Mint)
In the last year or so, IBREL has been streamlining its real estate portfolio, exiting office and residential projects in markets like Chennai. (Mint)

Indiabulls promoters may exit real estate biz

  • The Indiabulls Group is believed to have sounded out joint venture partner Blackstone Group Lp and other leading developers such as Godrej Properties in IBREL
  • Promoters’ stake in IBREL stands at 38.8%

Tesla shares have fallen 10% since April 3, the day before the automaker reported the delivery decline. (Bloomberg)
Tesla shares have fallen 10% since April 3, the day before the automaker reported the delivery decline. (Bloomberg)

Tesla reintroduces lower-priced Model S after deliveries drop

  • The automaker is reintroducing standard models of the Model S and Model X that have shorter driving ranges than other versions, Tesla said
  • The new products come as Chief Executive Officer Elon Musk struggles to accelerate sales and bring his cars to markets worldwide

Till 2006 when RIL’s fuel sales were at its peak, the refiner had a market share of 14.3% in diesel and 7.2% in petrol
Till 2006 when RIL’s fuel sales were at its peak, the refiner had a market share of 14.3% in diesel and 7.2% in petrol

Reliance Industries regains market share in petrol and diesel sales

  • RIL along with its partner BP Plc plans to jointly set up as many as 2,000 petrol pumps in India over the next few years
  • RIL, which enjoyed an overall 12% market share in fuel retailing till 2006, saw it slip to less than 0.5% in 2014

MPL’s latest funding round also comes at a time when fantasy gaming start-ups have been mopping up large rounds from tech investors in India and abroad.
MPL’s latest funding round also comes at a time when fantasy gaming start-ups have been mopping up large rounds from tech investors in India and abroad.

Gaming start-up MPL raised $35.5 million from Sequoia, & others

  • MPL will use the current funding to for driving product marketing and user growth efforts in India
  • The MPL platform claims to have over 25 million registered signups across both Andorid and iOS

Akshat Poddar General partner, Operator,VC
Founded in 2015, NinjaCart connects farmers to end retailers such as grocery stores, supermarkets and restaurants
 (Photo: Mint)
Earlier this month the retail giant had infused  ₹240 crore into Amazon Retail India, according to its regulatory filings, signalling an increased focus on the grocery arm. (iStock)
Earlier this month the retail giant had infused 240 crore into Amazon Retail India, according to its regulatory filings, signalling an increased focus on the grocery arm. (iStock)

Amazon Retail India on expansion spree, plans to enter 60 smaller cities: Report

  • Amazon Retail India is already present in over 100 cities
  • Amazon Retail India forms the giant’s Amazon Pantry and Prime Now services that deliver groceries and other household products

Ola’s fleet had served more than 350,000 customers, clocked over 7.5 million clean kilometers, saved over 5.7 lakh liters of fuel and reduced carbon emissions by over 1230 tons. (Reuters)
Ola’s fleet had served more than 350,000 customers, clocked over 7.5 million clean kilometers, saved over 5.7 lakh liters of fuel and reduced carbon emissions by over 1230 tons. (Reuters)

Ola recommends incentives for promoting usage of EVs rather than purchasing

  • In its first report on electric mobility, Ola Cabs recommended that efforts should be made to promote the usage of electric vehicles
  • The report by OMI also suggests schemes to accelerate the early adoption of electric mobility in India, making it financially viable and sustainable

Subhash Chandra, promoter of Essel Group. ( Ramesh Pathania/Mint)