Tata Steel, Maruti, Tata Motors, Infosys, Bharti Airtel and Tech Mahindra were also among the laggards. However, Trent, Asian Paints, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Reliance Industries were the gainers.
From the Sensex pack, Bharti Airtel, Asian Paints, Infosys, Bharat Electronics, Tech Mahindra and Eternal were major laggards. However, Maruti, Tata Steel, Bajaj Finance, Bajaj Finserv, Trent and Tata Consultancy Services were among the gainers.
This will be the first time BJP's prime ministerial candidate holds a discussion with IT, telecom czars.
Many who track the ministry and the technology sector closely believe that the space won't see much impact on the policymaking side, but the gestation time for regulations might get long, as now there could be a wider consensus-building exercise on policy matters under a coalition government.
Taking a strong view of Google pulling out some apps from its Play Store, the government on Saturday said delisting of Indian apps cannot be permitted and that the tech company and the startups concerned have been called for a meeting next week. In an interview to PTI, IT and Telecom Minister Ashwini Vaishnaw said the startup ecosystem is key to the Indian economy and their fate cannot be left to any big tech to decide. The minister's comments assume significance as Google on Friday began removing some apps, including popular matrimony apps, from its Play Store in India over a dispute on service fee payments, even as apps and well-known startup founders cried foul.
The government is planning new regulations that may impose penalties on both the creator and the platform hosting deepfakes, as it looks to clamp down on what IT and Telecom Minister Ashwini Vaishaw described as "a threat to democracy".
From the Sensex firms, Bajaj Finance, Bajaj Finserv, Infosys, Bharti Airtel, Kotak Mahindra Bank, Larsen & Toubro, Mahindra & Mahindra, ITC, Tech Mahindra, Tata Steel, Tata Motors, Titan, Reliance Industries and Nestle were the major winners. Hindustan Unilever, Power Grid, Axis Bank, Tata Consultancy Services, State Bank of India, Asian Paints and Wipro were the laggards.
Investors seem to be shying away from stocks of companies in the 'digital' space with most counters that comprise the Nifty India Digital index giving negative returns over the past year. The index tracks the performance of a portfolio of stocks that broadly represent the 'digital theme' within basic industries, such as software, e-commerce, IT-enabled services, industrial electronics, and telecom services. The fall in some of these stocks over the past year has been steep; the sharpest decline of around 60 per cent was seen in shares of PB Fintech (parent company of Policybazaar).
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
According to the survey report, the government's move to earmark Rs 76,000 crore outlay for semiconductors and display manufacturing segment will aid their production in the country. The survey said that government intervention to boost semiconductors and display manufacturing ecosystem in the country has come at a time when the global economy is facing acute shortage of semiconductors due to severe disruptions in supply chains.
'Generic skills are in abundance, but technological advancements have left staple skills redundant.' 'It is why employers are now looking for alternate sources of hiring -- deploying gig workers, looking at Tier 2 and Tier 3 cities for relevant talent.'
'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'
The Comptroller and Auditor General of India on Monday reported multiple irregularities in the accounts of units under the IT and telecom ministries, including purchases of hardware and software worth Rs 890 crore by NICSI in contravention of rules. In its audit report for financial years 2017-18 and 2018-19, the Comptroller and Auditor General (CAG) has flagged anomalies in the decision taken by state-run telecom firm BSNL, C-DoT, the Department of Posts, ITI Limited and CDAC that had adverse financial implications. "NICSI procured hardware and software costing Rs 890.34 crore through the 'Strategic Alliance' route in contravention of General Financial Rules, 2005 and departmental instructions and thus failed to ensure transparency and competitiveness in the procurement process," according to the CAG report tabled in Lok Sabha on Monday.
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
Ugly scenes were witnessed in the Rajya Sabha on Tuesday as opposition MPs climbed on the officials' table, waved black cloth and threw files when the House began a discussion on farmers' protest against new reform laws.
Union Minister Ravi Shankar Prasad on Tuesday said foreign investments and innovations are welcome but at the same time, the government is focussed on promoting Indian innovation as well as keen on the country's safety and security. Speaking at the India Mobile Congress 2020, the IT and Telecom Minister said that IT and communications sectors have registered over 7 per cent growth and received one of the highest Foreign Direct Investment (FDI) even during the challenging time of COVID-19.
Rajnath Singh believes it would be naive to see disengagement of the armies from the LAC as the end of the trouble. The defence minister has urged the defence forces to be ready for a long haul
The broader NSE Nifty reclaimed the key 10,100-mark and touched a high of 10,155.65, before finally settling at 10,124.35
People familiar with the proceedings said independent cybersecurity experts from a private consulting firm, technology lawyers, government officials and WhatsApp representatives were asked questions about the Pegasus spyware and the larger issues surrounding surveillance, hacking and remedial measures.
The survey found that 76 per cent of employees whose current workplace does not offer remote work options would consider switching to a job that offered more flexibility, while 42 per cent said they have already searched for such job options.
Employers believed that frequent job movements are indicative of indecisiveness in a candidate and demonstrate a lack of loyalty.
The government on Thursday said it has directed Mahanagar Telephone Nigam Ltd to monitor illegal international calls through its Nepal subsidiary.
If the status is approved for ITI, it will get preference in the supply of technology products required by the defence services.
He said IT companies need to explore domestic market, too.
Myntra CEO Ananth Narayanan, who was earlier against the merger of the two fashion e-tail companies, is learnt to be meeting each Jabong employee one-to-one.
State run telecommunications giant, BSNL will set up call centres across the country to expeditiously address grievances of its consumers, Minister of State for IT and Telecom Sachin Pilot said.
"Mobiles have the potential to be more effective than TV, PC, outdoor or digital displays, as it has the ability to influence the consumer at the last mile of transaction. It is observed that a person on a single day remains exposed to one screen more as compared to any other, and that is their mobile phones," says Vishwanath Alluri, Founder, Chairman and CEO, IMImobile.
The government cleared Department of Post initiative on Wednesday to invest the interest earned by postal life insurance scheme to invest in the equity market, IT and Telecom Minister Dayanidhi Maran said in New Delhi.
"In 2009, consumers will spend 2 per cent more on products in the audio/video, photography, IT and telecommunications segments, with total global expenditure for the year as a whole forecast at 494 billion euros ($706 billion)," the survey said.
According to Mayank Saksena, head -- transactions, Kolkata, Jones Lang LaSalle Meghraj, "From January onwards, we have been tackling an increase in live enquiries in Kolkata. The rate of enquiries is significantly higher than in cities such as Hyderabad. Chennai, Pune and Bangalore, primarily because Kolkata has a large number of old business houses that have been occupying prime spaces in the central business district."
The UPA government will work on creating one crore (10 million) new jobs in the textiles sector and attract an investment of Rs 1.55 lakh crore in the next five years, Textiles Minister Dayanidhi Maran said after taking charge.
Mukesh Ambani-led Reliance Retail on Friday said it would set up 55 stores for home appliances and electronic goods across the country over the next two years.
In a bid to augment its revenue, the postal department would soon commence life insurance business, Union Minister for IT and Telecom A Raja has said.
Prime Minister Manmohan Singh will deliver the valedictory address on February 9
Union Communications Minister, Dayanidhi Maran, wants India to accept market-driven technologies.
The robust earnings, shown by corporate India in the first half of this year, may not sustain the momentum due to slowdown in performance of IT and telecom sectors, making it difficult to match the forecasted growth for the entire fiscal.
State-run MTNL is exploring investment opportunities in Chinese telecom companies and also scouting Nigeria and Sri Lanka for investment or joint ventures in the wireless segment, the Rajya Sabha was informed on Monday.
The government on Wednesday said foreign direct investment in IT and telecom sector is expected to go up by more than 100 per cent in 2006.
Indian CEOs just want to drive a Mercedes-Benz, despite the bevy of luxury cars that have hit the roads in the recent past.
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