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Muhurat&nbsp;trading&nbsp;is&nbsp;the auspicious stock market&nbsp;trading&nbsp;for an hour on Diwali. The old practice has been retained by the&nbsp;trading&nbsp;community, as the festival marks the beginning of the New Year. According to NSE, "Muhurat&nbsp;trading&nbsp;is&nbsp;the auspicious stock market&nbsp;trading&nbsp;for an hour on Diwali (Deepawali). It&nbsp;is&nbsp;a symbolic and old ritual, that has been retained and observed for ages, by the&nbsp;trading&nbsp;community. As Diwali also marks the beginning of the New Year, it&nbsp;is&nbsp;believed that&nbsp;muhurat&nbsp;trading&nbsp;on this day brings wealth and prosperity throughout the year."

\Since the word "Muhurat" means an auspicious time to start something,&nbsp;Muhurat&nbsp;trading&nbsp;is&nbsp;considered special&nbsp;trading&nbsp;activity in the stock market held on the occasion of Diwali. It&nbsp;is&nbsp;held during evening hour and announcement in this regard&nbsp;is&nbsp;made by the stock market exchanges through a notification. The time for non-scheduled&nbsp;trading&nbsp;hour&nbsp;is&nbsp;not fixed as it changes every year. Many investors buy the stocks for long run on this occasion.

The&nbsp;Muhurat&nbsp;trading&nbsp;practice for an hour on Diwali&nbsp;is&nbsp;done traditionally to celebrate New Year. As Diwali marks the beginning of the New Year, traders believed that&nbsp;muhurat&nbsp;trading&nbsp;will bring in wealth and prosperity throughout the year. “Muhurat"&nbsp;is&nbsp;decided according to the Hindu calendar where auspicious planets align in such a way that the&nbsp;trading&nbsp;performed during this period becomes fruitful. As the marriages are solemised on a specific&nbsp;Muhurat, the&nbsp;trading&nbsp;in stock markets&nbsp;is&nbsp;done on the Diwali day at a specific time.

As per the tradition,&nbsp;trading&nbsp;on this day, when the 'Hindu financial year' begins, brings blessing for the year ahead. Notably, Gujarati community begins their new year a day after Laxmi Puja. This year, capital markets will hold special ‘muhurat&nbsp;trading’ session for 60 minutes between 6.16 pm and 7.15 pm. Brokers and investors will make token investments and usually hold the stock for a year or so.

Notably, stock exchanges are closed on October 28, therefore, settlement of trades executed on&nbsp;Muhurat&nbsp;trading&nbsp;will happen along with trades done on October 29. You can not sell the stocks bought during&nbsp;Muhurat&nbsp;trading&nbsp;on October 29. Out of the last 14&nbsp;Muhurat&nbsp;trading&nbsp;sessions, BSE Sensex has settled higher for 11 times, and in the last&nbsp;Muhurat&nbsp;trading, the BSE Sensex climbed 0.7% to settle at 35,237, while Nifty added 0.65% to close at 10,598.

Note: Zee Business brings to you an exclusive line up of programming for Diwali 2019 with experts, insights &amp; sharp acumen under Zee Business Damdar Diwali. A Diwali treat for you! Starting soon from October 14 only on Zee Business.in.

Muhurat&nbsp;trading&nbsp;is&nbsp;the auspicious stock market&nbsp;trading&nbsp;for an hour on Diwali. The old practice has been retained by the&nbsp;trading&nbsp;community, as the festival marks the beginning of the New Year.


Diwali 2019: Why Muhurat trading is so famous? Know all details of this auspicious share bazaar activity

Giving a boost to Electric Vehicles in country, the government has decided to provide at least one Charging Station to be available in a grid of 3 Km x 3 Km in the cities and one Charging Station at every 25 Km on both sides of highways/roads, according to revised Electric Vehicle charging guidelines. All mega cities and expressways connected to these Mega Cities to be taken up for coverage in first phase, other big cities to be taken up in second phase, said the guidelines.&nbsp;

Union Minister of State for Power and New &amp; Renewable Energy (IC) and Skill Development &amp; Entrepreneurship, RK Singh, has approved amendments in Electric Vehicle Charging Guidelines and Specifications, and these revised guidelines and specifications for charging infrastructure shall supersede the earlier guidelines and standards issued by the Ministry of Power on December 14, 2018, according to the official statement.

Speaking about the decision, Power Minister RK Singh said that revised guidelines are more consumer friendly as they incorporate a number of suggestions received from various stakeholders, adding “We have tried to address the concerns of EV owners in new guidelines” and expressed hope that revised guidelines will encourage faster adoption of EVs in India.

To facilitate Electric Vehicle owners, the government has decided to a phase-wise installation of an appropriate network of Charging Infrastructure throughout the country. The guidelines would ensure that at least one Charging Station should be available in a grid of 3 Km X 3 Km in the cities and one Charging Station at every 25 Km on both sides of highways/roads. It has been envisaged that in the first phase (i.e. 1-3 years) all Mega Cities with population of 4 million plus as per census 2011, all existing expressways connected to these Mega Cities &amp; important Highways connected with each of these Mega Cities may be taken up for coverage, while in the second phase (3-5 years) big cities like State Capitals, UT headquarters may be covered for distributed and demonstrative effect, said the statement.&nbsp;

Further, important Highways connected with each of these Mega Cities may also be taken up for coverage. To address the concerns in inter-city travel and long range and/or heavy duty EVs it has been provided that Fast Charging Station for long range and/or heavy duty EVs like buses/trucks etc., shall be installed at every 100 Kms, shall be installed one on each side of the highways/road located preferably within/alongside the Public Charging Station (PCS) mentioned above, it added.

According to revised guidelines, the above density/distance requirements shall be used by the concerned state/UT Governments/their Agencies for the land use planning for public charging stations as well as for priority in installation of distribution network including transformers/feeders etc by the DISCOMs. This shall be done in all cases including where no central/state subsidy is provided.

Assuming that most of the charging of EVs would take place at homes or at offices where the decision of using Fast or Slow chargers would rest on the consumers, it has been clarified in the guidelines that private charging at residences/offices shall be permitted and DISCOMs may facilitate the same, it said.

As far as the Public Charging Stations (PCS) are concerned, it has already been clarified by Ministry of Power that setting up of PCS shall be a de-licensed activity and any individual/entity is free to set up public charging stations, which has also been reiterated in the guidelines, subject to the conditions as specified in the Guidelines.&nbsp;

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Bureau of Energy Efficiency (BEE), a statutory body under Ministry of Power has been nominated as the Central Nodal Agency.

Notably, the tariff to be charged, from Public Charging Stations as well as from domestic consumers for domestic charging, by the DISCOMs and the Service Charges to be charged by these PCS from EV users have also been covered in the guidelines.&nbsp;

To facilitate Electric Vehicle owners, the government has decided to a phase-wise installation of an appropriate network of Charging Infrastructure throughout the country.&nbsp;


Good news! Electric Vehicle charging guidelines revised for EV owners; Charging station to come at every 3 Km in cities

Union Civil Aviation Minister Hardeep Singh Puri today said that his ministry would not tolerate any compromise on air safety and standards, asking the industry operators and all stakeholders in the sector to work in a heathy aspect. Puri said Indian aviation sector witnessing rapidly increasing demand and by 2040 air passengers traffic would increase nearly 5 times, while addressing an event organised by ASSOCHAM (Associated Chambers of Commerce and Industry)&nbsp; in Delhi.&nbsp;

Hardeep Singh Puri as the Chief Guest for the occasion also gave away awards to the winners nominated under various categories. Some of the other winners were Airbus, AAI Cargo, Bird Academy, Air India Express, Spice Jet, Frankfinn during the summit.&nbsp;

Addressing the conference, Dr Ahmed Al Banna, UAE Ambassador to India, impressed upon the need to see how can both countries collaborate, cooperate and expand the industry and become partners in growth of the aviation sector. He said, “The vision of our leadership with our plans, end goals, I think it will make us reach to the maximum relationship in all sectors, including airline as we are trying to grow people to people connections.”&nbsp;

J. Goburdhun, GOSK, High Commissioner of the Republic of Mauritius to India, said that civil aviation sector must collaborate in facilitating exchange of people among the Indian diaspora and make special flights or low-cost carriers available to visit the ancestral land and to develop tangible and intangible heritage.

"Growth of air cargo is critical for industries such as e-commerce, pharmaceuticals, electronics, agriculture, horticulture, floriculture, animal husbandry and marine exports, and high-value goods, including gems and jewellery and fashion garments, where shipments are highly time-sensitive," said the ministry statement, adding "In conformance with the objectives of the holistic National Civil Aviation Policy, 2016, a number of initiatives and measures were taken up to sustain the growth impetus in air cargo, efficiency improvement and promotion of ease of doing business across the air cargo value chain."&nbsp;

Notably, the first National Air Cargo Policy’s (NACP) outline was released at the Global Aviation Summit in January 2019. It aims to achieve fundamental re-engineering of the whole-of-the-value-chains for domestic and export-import air freight for reaching the target of handling 10 million tonnes by 2026-27.

Among others who addressed the conference, included Vineet Agarwal, Vice President; Ajay Singh, CMD, SpiceJet Limited; Ashish Saraf, Head-Airbus Helicopters, India &amp; South Asia; Narayana Rao, Chairman and Ankur Bhatia, Co-Chairman, ASSOCHAM National Council on Civil Aviation.

Puri said Indian aviation sector witnessing rapidly increasing demand and by 2040 air passengers traffic would increase nearly 5 times.


No compromise on air safety and standards: Civil Aviation Minister Hardeep Singh Puri

Reliance Industries` telecom arm&nbsp;Reliance Jio today reported a net profit of Rs 891 crore for June-quarter, showing an increase of 6.1 percent on a sequential basis. In a regulatory filing with BSE, the company's operating revenue for Q1FY19-20 stood at Rs 11,679crore.&nbsp;

On the Jio results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “Growth in Jio mobility services has continued to surpass all expectations. In less than two years of commercial operations, Jio network carried almost 11 Exabytes of data traffic during the recently concluded fiscal quarter. Jio management is focused on giving unmatched digital experience at most affordable price to every citizen of the country, and accordingly expanding the network capacity and coverage to keep pace with demand."

He added, "Jio has started connecting Enterprises with its next-gen connectivity solutions on the back of its extensive fiber network across the country. Beta trials of JioGigaFiber services have been very successful and the entire bouquet of smart home solutions would soon be rolled out to targeted 50 million households and beyond. Jio is committed to power the Digital Revolution in India through its technology platforms across communication, entertainment, commerce, financial 
services, education, healthcare, agriculture and beyond.”&nbsp;

According to the company report, Key takeaways are given below:&nbsp;

1. Customer Engagement/subscriber growth&nbsp;

-Strong subscriber growth with net addition of 24.5 million during the quarter and 116 million during the previous twelve months. 
- Gross adds at 33.8 million stayed healthy with deeper 4G network presence and simpler tariff structure continuing to attract first time mobile internet users to Jio digital services. 
- Monthly churn rate continued to stay below industry average at 0.97% per month. 
- Customer engagement was robust with average data consumption per user per month of 11.4 GB (10.9 GB per user per month in the previous quarter) and average voice consumption of 821 minutes per user per month.&nbsp;

2. Best-in-class Network

-Post the transfer of RJIL fibre and tower undertaking to separate companies, through NCLT approved Composite Scheme of Arrangement, RJIL is now an anchor tenant on these assets, effective 1st April 2019. 
- Jio continues to build capacity in line with increasing data traffic which crossed the 10 Exabyte mark during the quarter. Jio remains to be the only network to deploy tri-band (800MHz/ 1800MHz/ 2300MHz) 4G across all its network sites. 
- World’s largest VoLTE network witnessed ~75% YoY growth in daily voice traffic and it is now bigger than some of the legacy 2G/3G voice networks in India. 
- Ranked fastest network over last 28 months consecutively by TRAI’s MySpeed Analytics app (average download speed of 20.4 Mbps during May 2019, as per TRAI).&nbsp;

3. Largest Distribution &amp; Service Network 
-Pan-India distribution channel with over 1 million retailers for customer acquisition and selling prepaid recharges 
- Efficient sales channel with simplified tariff structure continues to deliver with monthly gross subscriber additions at more than ~11 million during the quarter 
- MyJio continues to be the best-in-class full service (prepaid and post-paid payments, loyalty coupons, troubleshooting, addition or deletion of services) self-care application.&nbsp;

4. Financial Performance 
- Jio's quarterly operating revenue increased 44.0% YoY to Rs 11,679 crore. 
- Robust operational efficiency is reflected in industry leading EBITDA margin of 40.1% which has driven EBITDA to Rs 4,686 crore during the quarter. 
- The company has adopted Ind AS 116 ‘Leases’ effective 1st April 2019 and applied the Standard to its leases. This has resulted in recognizing a right-of-use asset and a corresponding lease liability of Rs 6,633 crore as at 1st April 2019.&nbsp;

5. InvIT controlled Fibre &amp; Tower SPVs 
-Fiber and Tower undertakings were transferred to Jio Digital Fibre Private Limited (“JDFPL”) and Reliance Jio Infratel Private Limited (“RJIPL”) respectively, effective 31-Mar2019. 
- JDFPL and RJIPL are operating as independent entities with transfer of control to the SEBI registered Infrastructure Investment Trusts. 
- Agreement entered into with Brookfield Infrastructure Partners L.P. and its affiliates for an investment of Rs 25,215 crore into Tower InvIT. Transaction closure is subject to completion of due diligence, documentation and requisite statutory and regulatory approvals.&nbsp;

Jio continues to build capacity in line with increasing data traffic which crossed the 10 Exabyte mark during the quarter. Jio remains to be the only network to deploy tri-band&nbsp;4G across all its network sites.


Reliance Jio Q1 results Key takeaways: From profit to subscribe base; Check these top 5 power points

After State Bank of India (SBI) and Oriental Bank of Commerce (OBC), another state-owned bank - Syndicate Bank - has reduced its marginal cost of funds-based lending rate (MCLR) by 5 basis points for various tenors effective July 15. The benchmark one-year MCLR, which forms the basis of most consumer and personal loans will be at 8.6 per cent as compared with 8.65 per cent currently, said the bank statement.

Overnight, one, three and six-month MCLRs have also been cut by 5 bps each to 8.15 per cent, 8.25 per cent, 8.45 per cent and 8.55 per cent respectively, according to the statement, adding that the base rate has been kept unchanged at 9.5 per cent. Notably, the benchmark prime lending rate (BPLR) also stands unchanged at 13.85 per cent.&nbsp;

Earlier on Wednesday, Oriental Bank of Commerce (OBC) cut the marginal cost of funds-based lending rate (MCLR) by up to 10 basis points (bps) for various tenors with effect from Thursday.&nbsp;

The bank also decided to reduce MCLR for overnight and one-month loan tenor by 10 bps to 8.20 per cent and 8.25 per cent, respectively. Earlier, MCLR for overnight and one-month tenor stood at 8.30 per cent and 8.35 per cent, respectively.

According to the bank statement, it also reduced MCLR for three-month, six-month and one-year tenor loans by 5 bps to 8.45 per cent, 8.55 per cent and 8.65 per cent, respectively.&nbsp;

Meanwhile, on Tuesday, the State Bank of India had decided to lower its lending rates by 5 basis points across all tenors. Now interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from July 10, 2019. Notably, it was the third cut by the SBI in this financial year. With the latest cut, the SBI Home Loan Rates since April 10, 2019 is reduced by 20 bps.

The State Bank of India is the first bank to link the interest rates to RBIs repo rate to pass on the benefits of rate cut to end consumers. The lender has already linked its home loan interest rates with repo rate with effect from July 1, 2019.&nbsp;

<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/HDFCBank?src=hash&amp;ref_src=twsrc%5Etfw">#HDFCBank</a> जल्द ही नए MD की नियुक्ति के लिए करेगा सर्च कमेटी का गठन। <a href="https://t.co/CqOX2t6JsY">pic.twitter.com/CqOX2t6JsY</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1149720055283777536?ref_src=twsrc%5Etfw">July 12, 2019</a></blockquote>
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Notably, Marginal Cost of Lending Rate (MCLR) replaces the earlier base rate system to determine the lending rates for commercial banks. Implemented on April 1, 2016 by RBI, it is an internal reference rate for banks to decide what interest rate they can levy on loans, and for this they take into account additional or incremental cost of arranging additional rupee for a prospective buyer.

The benchmark one-year MCLR, which forms the basis of most consumer and personal loans will be at 8.6 per cent as compared with 8.65 per cent currently, said the bank statement.


After SBI, OBC, Syndicate Bank cuts MCLR across tenors by 5 basis points

Infosys Ltd today posted a 5.3% rise in June-quarter profit, raising its revenue forecast for the fiscal year. India`s No. 2 IT services firm said that net profit for the three months ended June 30 rose to Rs 38.02 billion rupees from Rs 36.12 billion a year ago, while its revenue from operations rose nearly 14%, according to its regulatory filing with the BSE.

On the Infosys Q1 result, Salil Parekh, CEO and MD, “We had a strong start to FY 20 with constant currency growth accelerating to 12.4% on year over year basis and digital revenue growth of 41.9%. This was achieved through our consistent client focus and investments which have strengthened our client relationships”, adding “Consequently, we are raising our revenue guidance for the year from&nbsp;7.5%-9.5% to 8.5%-10%.”

The company CEO Pravin Rao said: “We had a good quarter as we continue to leverage our digital navigation framework to help our clients build and nurture their live enterprise”, adding “Large deal TCV was highest ever at $2.7 bn. Segment growth was robust with all large regions and most verticals growing at double digits yoy in constant currency.”

However, the company's CFO Nilanjan Roy said, “Our first quarter results and continued focus on operational efficiencies gives us the confidence on our revenue and margin guidance for the year,” adding “Continuing our objective of&nbsp;improving shareholder returns, we have revised our capital allocation policy upwards to distribute ~ 85% 
of free cash flows cumulatively over a 5-year period.”

Infosys Q1 results highlights:

1. Q1 20 revenues grew year-on-year by 14.0% in INR; 12.4% in constant currency 
2. Q1 20 revenues grew sequentially by 1.2% in INR; 2.8% in constant currency 
3. Q1 20 Digital revenues at $1,119 million (35.7% of total revenues), year-on-year growth of 41.9% and sequential growth of 8.6% in constant currency 
4. Increased FY 20 revenue growth guidance range to 8.5%-10% in constant currency 
5. Maintained FY 20 operating margin guidance range of 21%-23%

6. Revenues were Rs 21,803 crore, growth of 14.0% YoY and 1.2% QoQ 
7. Operating profit was Rs 4,471 crore, decline of 1.5% YoY and 3.2% QoQ. Operating margin was 20.5%. 
8. Basic EPS was Rs 8.83, growth of 6.2% YoY and decline of 5.8% QoQ&nbsp;

Infosys Q1 result: India`s No. 2 IT services firm said that net profit for the three months ended June 30 rose to Rs 38.02 billion rupees from Rs 36.12 billion a year ago.


Infosys Q1 result out! Tech major posts 5.3% rise in profit at Rs 3,802 crore, raises revenue forecast 

The Union Cabinet, chaired by Prime Minister Narendra Modi, today took several key decisions, which were later informed to mediapersons by Union Ministers Prakash Javdekar, Santosh Gangwar and NS Tomar. The key decisions that got the cabinet approval are given below:&nbsp;

1. Cabinet today approved the banning of Unregulated Deposit Schemes Bill, 2019. It will replace the banning of Unregulated Deposit Schemes Ordinance, 2019. The banning of Unregulated Deposit Schemes Bill, 2019 will replace the Ordinance promulgated on 21st February, 2019, which will otherwise cease to operate after six weeks after reassembly of Parliament.&nbsp;

The Bill will help tackle the menace of illicit deposit taking activities in the country, which at present are exploiting regulatory gaps and lack of strict administrative measures to dupe poor and gullible people of their hard-earned savings.

2. It approved the Inter-State River Water disputes(Amendment) Bill, 2019 for adjudication of disputes relating to waters of inter-State rivers and river valley thereof. It will further streamline the adjudication of inter-State river water disputes. The Bill seeks to amend the Inter State River Water Disputes Act, 1956 with a view to streamline the adjudication of inter-state river water disputes and make the present institutional architecture robust.

3. The Union Cabinet chaired by Prime Minister Narendra Modi also approved grant of Organised Group 'A' status to Indian Railway Protection Force (RPF) and consequential benefits of Non-Functional Financial Upgradation (NFFU) with effect from Januray 1, 2006 and Non-Functional Selection Grade (NFSG) at 30% of Senior Duty Post (SDP) with effect from June 6, 2000, as per Department of Personnel and Training guidelines.

Grant of status of Organized Group 'A' service to RPF will end stagnation, improve career progression of the officers and keep up their motivational level. Eligible officers of RPF will get benefitted.

4. In the spirit of ‘Sabka Saath, Sabka Vikaas’ and ‘Sabka Vishwas’, the Cabinet has also approved for introduction of the Code on Occupational Safety, Health and Working Conditions Bill, 2019 in the Parliament. This proposal would enhance the coverage of the safety, health and working conditions provisions manifold as compared to the present scenario. The decision will enhance the coverage of the safety, health and working conditions provisions manifold as compared to the present scenario.

5. The Cabinet has approved the proposal to introduce The Transgender Persons (Protection of Rights) Bill, 2019. The Bill will be introduced in the ensuing session of Parliament. it provides a mechanism for their social, economic and educational empowerment.

It will benefit a large number of transgender persons, mitigate the stigma, discrimination and abuse against this marginalized section and bring them into the mainstream of society. This will lead to inclusiveness and will make the transgender persons productive members of the society.

6. In a historic decision to protect children from Sexual offences, the Cabinet today approved the Amendments in the Protection of Children from Sexual Offences (POCSO) Act, 2012. It will make punishment more stringent for committing sexual crimes against children including death penalty. The amendments also provide for levy of fines and imprisonment to curb child pornography.

The amendment is expected to discourage the trend of child sexual abuse by acting as a deterrent due to strong penal provisions incorporated in the Act. It intends to protect the interest of vulnerable children in times of distress and ensures their safety and dignity. The amendment is aimed to establish clarity regarding the aspects of child abuse and punishment thereof.

7. In a major boost to rural road connectivity across the country, the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for the launch of Pradhan Mantri Gram Sadak Yojana-lll (PMGSY-III). It involves consolidation of Through Routes and Major Rural Links connecting habitations to Gramin Agricultural Markets (GrAMs), Higher Secondary Schools and Hospitals.

Under the PMGSY-III Scheme, it is proposed to consolidate 1,25,000 Km road length in the states. The scheme will also include Through Routes and Major Rural Links that connect habitations to Gramin Agricultural Markets (GrAMs), Higher Secondary Schools and Hospitals.

The decision would facilitate easy and faster movement to and from Gramin Agricultural Markets (GrAMs), Higher Secondary Schools and Hospitals. Roads constructed under PMGSY would also be maintained properly.

The Bill will help tackle the menace of illicit deposit taking activities in the country, which at present are exploiting regulatory gaps and lack of strict administrative measures to dupe poor and gullible people of their hard-earned savings.


Top 7 decisions of Modi Cabinet today: From Deposit Schemes to Occupational Safety, check them out

Leading global IT services, consulting and business solutions organization, Tata Consultancy Services (TCS), today reported its financial results for the quarter ending June 30, 2019. The Board meeting held today declared an interim dividend of Rs 5 per Equity Share of Re 1 each of the company. The interim dividend shall be paid on Tuesday, July 23, 2019 to the equity shareholders of the company, according to the company statement.

Commenting on the Q1 performance, RaJesh Gopinathan, Chief Executive Officer and Managing Director, said, "We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter."

"We are benefiting significantly from enterprises Investing in Customer Experience to differentiate themselves in a Business 4.0 world. Our lean forward strategy is working well and our customers are benefiting from the TCS innovation ecosystem. Customers appreciate our end-to-end capabilities, and our holistic approach to transforming customer journeys that enable rapid product Innovation and speed to value," he added.

The key takeaways of the leading global IT services company are:&nbsp;

1. Research and Innovation

As on June 30, 2019, the company has applied for 4,682 patents, including 86 applied during the quarter and has been granted 1,022 patents.

2. Human Resources

Strong hiring in Q1 resulted in a net addition of 12,356 employees, the highest in the last five years. The company has issued Joining letters to over 30,000 fresh graduates. Forty percent of them have been onboarded in Q1 and the rest are expected to join by Q2.

Consolidated headcount stood at 436,641 as of June 30, 2019. With continuing Initiatives to attract the best local talent across major markets, the workforce is becoming more diverse. The percentage of women in the workforce rose further to 36.1%, while the total number of nationalities represented grew to 149.

TCS continues to invest heavily in organic talent development. At the end of Q1, over 315,000 employees had been trained on multiple new technologies, and over 361,000 had been trained on Agile methods. The company continues to be the industry benchmark in talent retention, with the IT Services attrition rate (LTM) at 11.5%.

3. Industries

Revenue growth was broad-based across verticals. Life Sciences &amp; Healthcare led the pack, growing 18.1%. The other verticals - BFSI (+9.2%)' Retail &amp; ePG (+7.9%), Communications &amp; Media (+8.4%), Technology &amp; Services (+7.8%) and Manufacturing (+5.5%) - all showed industry-leading growth rates.

4. Markets

Growth was led by UK (+16%), India (+15.9%) and Europe (+15%). Other markets showed good momentum: North America (+7.7%), Asia Pacific (+9.5%), MEA (+6.4%) and Latin America (+6.4%).

5. Services

-Consulting &amp; Services Integration: Customer Experience and Enterprise Agility are emerging as the top C-Ievel priorities and helped drive strong growth for TCS' CX transformation services and enterprise agility strategic consulting in Q1.

-Digital Transformation Services: Strong growth in loT, cybersecurity, and consulting and services integration as customers look to transform to Business 4.0 enterprises. TCS' ability to address the strategic needs of all key stakeholders, and Location Independent Agile Methodology are serving as strong differentiators.

-Cognitive Business Operations: This area saw strong growth led by digital customer experience management, digital F&amp;A, business cloud aligned solutions, and operations at the edge.&nbsp;

TCS Q1 Results: As on June 30, 2019, the company has applied for 4,682 patents, including 86 applied during the quarter and has been granted 1,022 patents.


TCS Q1 Results Key Takeaways: From profit, dividend to women workforce, check out the critical points 

A job is one of the most critical needs of the youth in the country. Looking to cater to their requirements is the government, which has a number of schemes going to generate jobs. Employment generation coupled with improving employability is the priority of the government, which has taken various steps to generate employment in the country by encouraging private sector of economy, fast-tracking various projects involving substantial investment and increasing public expenditure on several schemes, said Santosh Kumar Gangwar, Union Minister for Labour and Employment, in written reply to a question in Lok Sabha today. The key highlights of Gangwar's reply are:&nbsp;&nbsp;

1. According to the Minister, these schemes include Prime Minister’s Employment Generation Programme (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) and Deendyal Antodaya Yojana-National Urban Livelihoods Mission (DAY-NULM).

2. Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) has been launched by the Ministry of Labour and Employment for incentivising employers for promoting employment generation. Under this scheme, government is paying entire employer’s contribution (12% or as admissible) towards EPF and EPS for all eligible new employees for all sectors for 3 years.

3. The goverment also initiated Pradhan Mantri Mudra Yojana (PMMY) for facilitating self-employment. Under PMMY, collateral free loans upto Rs 10 lakh, are extended to micro/small business enterprises and to individuals to enable them to setup or expand their business activities.

4. Government has implemented the National Career Service (NCS) Project which comprises a digital portal that provides a nation-wide online platform for the job seekers and employers for job-matching in a dynamic, efficient and responsive manner and has a repository of career content to job seekers.

5. Start-up India is another a flagship initiative of the government to build a strong ecosystem that is conducive for the growth of start-up businesses, to drive sustainable economic growth and generate large scale employment opportunities.

<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/BudgetWithZee?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetWithZee</a> | PSU बैंकों को ₹70,000 करोड़ पूंजी देने और ₹1,05,000 करोड़ के विनिवेश का ऐलान पॉजिटिव है लेकिन इसका असर लंबे अरसे बाद दिखेगा: आशीष सोमैया, MD &amp; CEO, मोतीलाल ओसवाल AMC 
 
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— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1148533351160041473?ref_src=twsrc%5Etfw">July 9, 2019</a></blockquote>
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6. The minister said that besides these initiatives, other flagship programmes including Make in India, Digital India, Swachh Bharat Mission, Smart City Mission, Atal Mission for Rejuvenation and Urban Transformation, Housing for All, Infrastructure development and Industrial corridors have the potential to generate productive employment opportunities.&nbsp;

7. According to Santosh Kumar Gangwar, ministries/ departments/ states run skill development schemes across various sectors to improve the employability of youth besides facilitating placements. Schemes such as the National Apprenticeship Promotion Scheme (NAPS) wherein the government reimburses 25 per cent of the stipend payable to apprentices also enhances employability of the youth to access employment.

Government has implemented the National Career Service (NCS) Project which comprises a digital portal that provides a nation-wide online platform for the job seekers and employers for job-matching in a dynamic, efficient and responsive manner and has a repository of career content to job seekers.


Looking to get employed? Modi mantra for jobs in India-Check highlights here

Delivering her budget speech in Parliament today, Finance Minister Nirmala Sitharaman pointed out that the Indian economy has added one trillion dollar in the last five years due to the various initiatives and reforms undertaken by the Government, and is poised to&nbsp; grow to be a 3 trillion dollar economy in the current year. Talking about the importance of&nbsp; programmes like Pradhan Mantri Gram Sadak Yojana, Industrial Corridors, Dedicated Freight Corridors, Bhartamala, Sagarmala, Jal Marg Vikas and UDAN for enhancing physical connectivity through various modes, she said these initiatives will improve logistics, reduce the cost of transportation and increase the competitiveness of domestically produced goods.

According to the Finance Minister, for the MSME sector, Rs. 350 crore has been allocated for FY 2019-20 under the Interest Subvention Scheme, for 2% interest subvention for all GST registered MSMEs, on fresh or incremental loans. She further said the government will create a payment platform for MSMEs to enable filing of bills and payment. This will help eliminate delays in payment and give a boost to investment in MSMEs .&nbsp;

Talking about several initiative, Chintan Patel, Partner - Deal Advisory, Head - Building, Construction &amp; Real Estate, KPMG India, told Zee Business online, “The budget has brought forth positive interventions to accelerate the ‘Housing for All 2022’ agenda of the Government. Focused initiatives such as Implementation of the Rental Housing Scheme, delinking of financing and regulatory powers between NHB, HFCs and RBI, Direct Benefit Transfer to ease construction technology adoption will provide immense fillip to housing development."

"Enhancement of housing loan interest exemption limit by INR 1.5 lacs will enable positive sentiments amongst consumers. Allowance of Foreign Portfolio Investors (FPIs) to subscribe to listed debt securities under REITs and InvITs mechanisms will further boost foreign investor participation. These steps showcase the intent of the current Government,” Patel added.

Neeraj Bansal, Partner, Advisory Services, KPMG in India, however, said, “Significant boost to affordable housing with additional deduction on interest on housing loan with potential savings up-to INR 9.3 lacs for a single household for people with income less than 18 lacs on max loan amount is welcome. This will create new demand for houses up-to INR 45 lacs in the current year which is a big positive for the affordable housing developers”

Elias George, National Head - Infrastructure, Government &amp; Healthcare, KPMG in India, said “The budget has put in place the basic architecture for moving India closer towards our new goal of becoming a USD 5 trillion economy by 2024-25. The budget rightly focusses on augmentation of physical and social infrastructure, particularly transportation infrastructure, customer-centric universal travel, integrated water management for ensuring clean water availability to all by 2025, ‘One nation One grid’ for universal power availability and countrywide provision of internet infrastructure and measures to improve the ease of living."

"A number of measures have also been proposed to enhance private investment levels in the country for bridging our infrastructure deficit. Particularly welcome are the budget interventions aimed towards improving women’s welfare,” he added.

Chintan Patel, Partner - Deal Advisory, Head - Building, Construction &amp; Real Estate, KPMG India, said, “The budget has brought forth positive interventions to accelerate the ‘Housing for All 2022’ agenda of the Government.


Budget 2019: Enhancement of housing loan interest exemption limit will enable positive sentiments: KPMG India  

Budget 2019: Indian Railways has received the highest-ever outlay for capital expenditure in Finance Minister Nirmala Sitharaman's maiden Budget tabled today in Parliament. She proposed the highest-ever outlay of Rs 1.60 lakh crore and a budgetary allocation of Rs 65,837 crore for the national transporter.

Last year, the outlay for the railways was Rs 1.48 lakh crore while the Budget allocation was Rs 55,088 crore. The Budget 2019 has allocated funds of Rs 7,255 crore for construction of new lines, Rs 2,200 crore for gauge conversion, Rs 700 crore for doubling, Rs 6,114.82 crore for rolling stock and Rs 1,750 crore for signalling and telecom.

Notably, the allocations have remained the same as in the interim budget in February, which was presented by the then Finance Minister Piyush Goyal, who is also the Railway Minister.&nbsp;

Presenting the Budget in the Lok Sabha, Sitharaman stressed that railway infrastructure would need an investment of Rs 50 lakh crore between 2018 and 2030 and proposed that a public private partnership (PPP) be used to unleash faster development and delivery of passenger freight services for railway projects to boost connectivity.

Sitharaman said: "It is estimated that railway infrastructure would need an investment of Rs 50 lakh crore between 2018 to 2030. Given that the capital expenditure outlays of railways is between Rs 1.5 to 1.6 lakh crore per annum, completing even all sanctioned projects would take decades."

According to the FM, "It is therefore proposed to use public-private partnership to unleash faster development and completion of tracks and rolling stock manufacture and also delivery of passenger freight services."&nbsp;

She said the national transporter will be encouraged to invest more in suburban network through special purpose vehicle structures such as the Rapid Regional Transport System. Such a system is proposed on the Delhi-Meerut route.

"I propose to enhance the metro railway initiative by encouraging more public private partnership initiatives and ensuring completion of sanctioned works while supporting transit oriented development to ensure commercial activity around transit hubs," she said, adding that Railway stations modernisation will also be launched this year.

Developing passenger amenities seemed to to be the focus of the government with the planned expenditure on that count being allocated Rs 3,422.57 crore which is an additional outlay of around Rs 1,000 crore for the comfort of rail passengers.

Railways headache would remain is the revenue expenditure which includes an estimated salary payout of Rs 86,554.31 crore, about Rs 14,000 crore more than last year.

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The Budget estimates also allocated Rs 267.64 cr for Nirbhaya Fund including provision of Rs 250 crore for Integrated Emergency Response Management System (IERM) (Video Surveillance System) and Rs 17.64 cr for Konkan Railway Corporation Ltd.

Estimates under Gross Traffic Receipts for the year 2019-20 have been placed at Rs 2,16,675 crore involving an increase of Rs 19,961 crore over the Revised Estimates 2018-19.

Sitharaman said: "It is estimated that railway infrastructure would need an investment of Rs 50 lakh crore between 2018 to 2030. Given that the capital expenditure outlays of railways is between Rs 1.5 to 1.6 lakh crore per annum, completing even all sanctioned projects would take decades."&nbsp;


Budget 2019: Indian Railways receives highest-ever outlay of Rs 1.60 lakh crore

Union Finance Minister Nirmala Sitharaman during the course of her budget speech in the Parliament today proposed streamlining of labour laws, with a view to standardize the process of registration and filing of returns. Presenting her maiden budget for the Narendra Modi government, she said "The government is proposing to streamline multiple labour laws into a set of four labour codes. This will ensure that the process of registration and filing of returns will get standardized and streamlined. With various labour related definitions getting standardized, it is expected that there shall be less disputes."&nbsp;

Stating that major economies worldwide are set to face severe labour shortages in the future, the finance minister said, "To prepare our youth to also take up jobs overseas, we will increase focus on skill sets needed abroad."

These skill sets would include language training apart from new-age skills like Artificial Intelligence (AI), internet of things, big data, 3D printing, virtual reality and robotics. These skills are valued highly both within and outside the country and offer much higher remuneration.

She also proposed to streamline multiple labour laws into a set of four labour codes, adding "This will ensure that process of registration and filing of returns will get standardized and streamlined."

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The Economic Survey of India 2018-19 tabled in Parliament on Thursday has also recommended the amalgamation of four separate wage acts prevalent in the country in order to achieve the goal of inclusive growth and job creation. It had recommended for the amalgamation of the Minimum Wages Act, 1948, the Payment of Wages Act, 1936, the Payment of Bonus Act, 1965 and the Equal Remuneration Act, 1976 into a single piece of legislation.

The finance minister said that major economies worldwide are set to face severe labour shortages in the future.


Budget 2019: Sitharaman proposes to streamline labour laws into set of 4 labour codes

Budget 2019: In the budget 2019-20, Finance Minster Nirmala Sitharaman has given special thrust on start-ups. In one such proposal, she said the government proposes to start a channel within the DD bouquet of channels, exclusively for start-ups. Presenting her maiden budget today in Parliament, she said the channel will serve as a platform for promoting start-ups, discussing issues affecting their growth, matchmaking with venture capitalists and funding and tax planning. Notably, this channel will be designed and executed by start-ups themselves.&nbsp;

Other key highlights related to start-ups in the budget are:

1. According to the Finance Minster, the condition for carry forward and set off of losses in cases of eligible start-ups is proposed to be relaxed enabling them to carry forward their losses on satisfaction of any one of the two conditions - continuity of 51% shareholding/voting power of continuity of 100% of original shareholders.&nbsp;

2. Further, the provision which allows exemption of capital gains from sale of residential property on investment of net consideration in equity shares of eligible start-up shall be extended by 2 years. The benefit will be available for sale of residential property on or before 31st March, 2021.&nbsp;

3. The condition of minimum holding of 50% of share capital or voting rights in the start-up is proposed to be relaxed to 25%. The condition restricting transfer of new asset being computer or computer software is also proposed to be relaxed from the current 5 years to 3 years.

4. The FM stated that start-ups in India are taking firm roots and their continued growth needs to be encouraged.&nbsp;

5. To resolve the so-called ‘angel tax’ issue, the start-ups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums.&nbsp;&nbsp;

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6. The issue of establishing identity of the investor and source of his funds will be resolved by putting in place a mechanism of e-verification.&nbsp;&nbsp;

7. With this, funds raised by start-ups will not require any kind of scrutiny from the Income Tax Department, the Finance Minister added.

Budget 2019: She said the channel will serve as a platform for promoting start-ups, discussing issues affecting their growth, matchmaking with venture capitalists and funding and tax planning.&nbsp;


Budget 2019: FM Nirmala Sitharaman proposes to start DD channel for start-ups

Finance Minister Nirmala Sitharaman today informed the Parliament that under the Pradhan Mantri Gramin Digital Saksharta Abhiyan, over two crore rural Indians have so far been made digitally literate. Presenting her maiden budget for the Narendra Modi government, she said that in order to bridge rural-urban digital divide, Bharat-Net is targeting internet connectivity in local bodies in every Panchayat in the country.&nbsp;

"This will be speeded up with assistance from Universal Obligation Fund and under a Public Private Partnership arrangement," the Finance Minister said.

Notably, BharatNet Project is the world’s largest rural broadband connectivity programme using Optical fiber, implemented by Bharat Broadband Network Limited (BBNL) – a special purpose vehicle under the Telecom Ministry. The scheme is the government's ambitious rural internet connectivity programme.&nbsp;

The programme was implemented the Modi government in its first tenure, subsuming all the ongoing and proposed broadband network projects. The project, executed by BSNL, RailTel and Power Grid, is being funded by Universal service Obligation Fund (USOF).

The programme aims to connect all of India’s households, specifically rural households through demand, affordable high speed internet connectivity to fulfill the objectives of Digital India programme in partnership with the states and the private sector.

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The Bharat Net proposes broadband connectivity to households under village Panchayats and even to government institutions at district level, and aims to cover all 2.5 lakh Gram Panchayats for provision of E-governance, E-healthcare, E-Commerce, E-Education and Public Interest Access services.

Notably, Bharat Net's first phase was completed in December 2017, providing intenet access to 1 lakh Gram Panchayats, and so far about 83000 Gram Panchayats have been connected.

Budget 2019: "This will be speeded up with assistance from Universal Obligation Fund and under a Public Private Partnership arrangement," the Finance Minister said.


Budget 2019: Every village to get Internet connectivity under Bharat Net: FM Sitharaman 

Budget 2019: Finance Minister Nirmala Sitharaman proposed to give respite to beleagured power sector, as she said that the government will improve the "Ujwal DISCOM Assurance Yojana" and a package for the power sector will be announced soon. Tabling her maiden budget in Lok Sabha today, she said the government will come out with new tariff policy for the power sector.

The Finance Minister said the Centre is going to work with the state governments to remove the barriers in the implementation of the UDAY scheme for the turnaround of power distribution companies. Notably, the scheme was launched in 2015 by the then MoS (IC) for Power Piyush Goyal. The scheme faced criticism from several counters over rising debt and overdues of power discoms.

Jharkhand earned the distinction of become the first state to come under this scheme, followed by other states, which gave in-principle approval, include Gujarat, Chhattisgarh, Andhra Pradesh, Karnataka, Rajasthan, Punjab, Haryana, Jammu and Kashmir, Himachal Pradesh, Madhya Pradesh, Uttarakhand, Telangana, Assam. Later Uttar Pradesh, Bihar, Maharashtra, Tamil Nadu and Mizoram also joined, thereby making the total of 27 states to have joined, and so far 32 states/UT have joined this scheme.

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Under the UDAY, the government had initiated the move for financial turnaround and revival package for electricity distribution companies of India (DISCOMs) to find a permanent solution to the financial mess faced by power distribution segment. It allows state governments, which own the DISCOMs, to take over 75 percent of their debt as of September 30, 2015, and pay back lenders by selling bonds. DISCOMs are expected to issue bonds for the remaining 25 percent of their debt.

Budget 2019:Tabling her maiden budget in Lok Sabha today, she said the government will come out with new tariff policy for the power sector.


Arun Kumar Chaubey