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

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%

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

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

Following Carlos Ghosn's arrest, crisis-hit Nissan issues fresh profit warning

• The firm downgraded its projection for net profit in the fiscal year to March 2019 from 410 billion yen to 319 billion
• Nissan appeared to acknowledge the recent difficulties surrounding the Ghosn affair, which has cast questions over the company's own corporate governance

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

EnKash secures $3 million from Mayfield, Axilor

• EnKash is a business-to-business (B2B) payments management and automation platform
• The latest investment will be used to enhance its existing technology base and for building a leadership team, the company said

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

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

Delhi HC adjourns plea seeking relief for Jet Airways passengers to 1 May

• The plea was filed by activist Bejon Kumar
• A division bench presided by Chief Justice Rajendra Menon and Justice A.J. Bhambhani said the plea was a publicity stunt

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 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

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

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

'Startups that bet on real money gaming will have a huge business opportunity’

• While social media and entertainment apps dominate the time we spend on our phones, gaming is a large category and India is one of the world’s five largest markets
• The real money games of skill market is set for a rapid growth phase

Tiger Global invests $89 million in agri-tech startup NinjaCart

• Deal marks one of Tiger’s largest first cheque in an Indian start-up
• The deal could also be indicative of Tiger’s new approach to the Indian start-up ecosystem post the departure of Lee Fixel

Future Retail raises ₹2,000 crore through issue of warrants to promoter entity

• The total aggregated value of funds raised through issuance of warrants is ₹1,999.99 crore
• Future Retail said the allotment has been made post receipt of the approval of Competition Commission of India (CCI)

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 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

Essel Group in talks to sell road assets to CDPQ, Cube Highways

• Cube Highways and CDPQ are expected to put binding offers for three toll roads of Essel Group in the coming weeks
• A potential deal could be a major reprieve for the Subhash Chandra-led group that is struggling to repay lenders