Last week’s Union Budget 2019 announced a 20% tax on buyback shares had led to IT companies like Wipro, TCS and Infosys to rethink how they payout their shareholders.
The budget also proposed increasing the minimum public shareholding to 35%, so a lot more shares are going to be up for grabs in the market as promoters dilute their own shareholding.
Both factors will have a heavy bearing on Wipro and Infosys, in particular, since investments in those companies were primary based on payout yields rather than earnings and buyback shares were a key part of their strategy.
Spotify just launched a ‘lite’ version of its app for Android users, leaving iOS users out of the loop. The company has also said that they currently have no plans to develop and launch a version for iPhone users.
Spotify Lite has 90% of the same features as the original app — just less animations and graphic bells and whistles, which the company claims aren’t the ‘core experience’ of Spotify.
The Indian Army has issued new regulations to its 1.3 million officers to be careful about who they engage with online. Fearing that foreign intelligence might be spying on officers and their families through social media, the Indian Army is restricted officers from joining large WhatsApp groups or online communities where many of the members are unknown.
Microsoft has relaunched Windows 1.0 — first introduced in 1985 — as Windows 1.11, a game for the games of Stranger Things 3. The namesake ‘operating system’ is filled with easter eggs and tasks that will lead you through the world of Stranger Things as you go deeper into the game.
The game is free for download from the Windows Store along with Windows 10 themes based on the Netflix show.
The Aadhaar Bill has been passed in Parliament and its made a few clarifications to put uses minds at ease. First off, it's not mandatory for authentication. Yes, it can be used in lieu of other identification but a drivers license or PAN card as just as acceptable when you’re looking to buy a new sim or set up a new bank account.
Other issues like Aadhaar cards for children, how the government uses the information you provide, and how to register complaints of misuse has also been outlined.
India’s auction of the 5G spectrum could take place any time now and it promises to deliver speed four times faster than 4G’s capabilities. Mukesh Ambani’s Reliance Jio is trying to get ahead of the curve by laying down as many fixed broadband lines as possible before the new options roll in.
Jio has planned to lay out its fibre optic cables in 1,600 different cities and over 75 million homes in India.