A Goldman Sachs report said, in the past also, major crisis have led to a sharp increase in outsourcing and even offshoring particularly to India , thanks to lower wages for technology developers as compared to developed economies, and an increasing annual base of engineering graduates.
Chinese tech unicorn ByteDance co-founder billionaire Zhang Yiming on Thursday announced that he will step down as CEO, in a surprise move that signalled a major leadership shake-up at the nine year-old technology firm which created popular global short-video app TikTok. Zhang, 38, who is one of China's wealthiest entrepreneurs, said he is ready to step down after nearly a decade of running the world's largest unicorn, becoming the latest among the country's technology founders to quit in their prime. Zhang will step down from his role as CEO of the Beijing-based ByteDance, giving up his day-to-day responsibilities to "be more impactful on longer-term initiatives," the Hong Kong-based South China Morning Post quoted the company announcement on Thursday.
But there are challenges, observes Tamal Bandyopadhyay.
In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
Mutual funds aspirants have the option of snapping up smaller AMCs or applying for a new licence.
Last year, there was almost 16 per cent increase in hiring by the Global Capability Centres in India.
About Rs 4,257 crore worth of bids have been received so far and the Centre hopes that retail investors - those investing up to Rs 2 lakh - will place bids worth at least Rs 750 crore.
Planning commission deputy chairman Montek Singh Ahluwalia on Tuesday said the government should consider general lowering of duty rates across sectors to avoid creating arbitrage under free trade agreements.
The suggestion is made by BSE in a letter to the Finance Minister.
About 24 fund houses saw a decline in their debt AUMs in the past one year.
Retail investors should not invest for bonus or dividend because in order to make money over the long term.
Do you know you can invest in funds to donate money for a good cause?
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
Fund managers may end up losing out on crucial information during market hours, leading to information asymmetry vis-a-vis other institutional investors such as alternative investment funds, insurance players, or foreign portfolio investors.
A RBI constituted panel on financial inclusion headed by Nachiket Mor had recommended the setting up of the payments banks in order to deepen access to finance.
While revenue growth of 10-20% is possible in 2013, valuations may trend lower on margin pressure.
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The report stated the 2013 land Act was a step forward.
The industry was hit by the financial stress of 3G and 4G auctions in 2010.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
American refiners closed some of their production, leading to futures trade benchmarked to the West Texas Intermediate going negative.
'Google and Facebook need to be tamed, their garb of 'Investing in India's future' need to be pulled off,' observes Vibhu Arya.
The Reserve Bank of India (RBI) on Monday said capital flows would determine where the Indian currency was headed. The rupee has fallen 4.3 per cent against the dollar since the month began, despite RBI's intervention and administrative measures.
Bigger players tap non-deliverable forwards market to make a killing.
According to experts, banks have found better arbitrage opportunities in dollar terms in mature economies with mortgage and leverage rather than take equity exposure on Indian real estate.
Levying buyback tax at a flat rate of 20 per cent (plus applicable surcharge and cess), irrespective of the period for which shares are held will be a dampener for equity shareholders who take inherent risks while investing, says Hitesh D Gajaria, partner and head of tax, KPMG in India.
The BSE Midcap and the Small-cap Index have run up 25.3 per cent and 31.3 per cent respectively over the past year. Valuations are no longer cheap, notes Sanjay Kumar Singh.
ITC has introduced differentiated cigarettes like Gold Flake Indie Mint, Gold Flake Neo and Classic Rich & Smooth in the premium end. Godfrey, too, introduced flavoured variants like Four Square Clove Crush in the mid-tier segment and has seven variants of the Marlboro brand for India.
Faced with competition from low-cost locations and inefficiencies associated with unwieldy growth in head count, Indian IT companies are exploring non-linear growth strategies.
BLB Limited, the country's largest arbitrage and proprietary book player not very long ago, went out of its primary business of share market trading earlier this week as business became unviable. The company, now operating with skeletal staff, will look at opportunities in the international commodities space.
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
Campus recruits can also aim to double the existing entry level package by proving their skills through the TCS national qualifier tests.
'If an investor is ready to stay put for the next five years, one can consider investing in mid- and small-cap funds, but through SIPs.'
