Mutual funds (MFs) are betting on a turnaround in the healthcare sector to boost returns but are divided on the prospects of the information technology (IT) sector amid uncertain growth outlook. At the end of June, all of the top 20 fund houses were overweight on the healthcare sector vis--vis the sector's presence in the BSE 200 index, shows a report by Motilal Oswal Financial Services (MOFS). In the case of the IT sector, only six of the 20 fund houses had overweight positions.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Red Bull make changes to car after discussions with FIA
Capital markets regulator Sebi has extended the suspension of futures and options trading in seven agricultural commodities, including wheat and moong, for one more year till December 2023 in a bid to rein in prices. The other agricultural commodities suspended by Sebi are -- paddy (non-basmati), chana, crude palm oil, mustard seeds and their derivatives and soya bean and its derivatives. "The suspension of trading in the above contracts has been extended for one more year beyond December 20, 2022, i.e. till December 20, 2023," Sebi said in a statement on Wednesday.
Jaitley also said the government will soon unveil reforms for other natural resources sectors along the lines of coal block auctions.
Hindu community leaders in Bangladesh are advocating the formation of a dedicated political party, reflecting a call for political representation to protect their rights and ensure their safety. Hindu leaders from the Bangladesh Hindu Buddhist Christian Unity Council (BHBCOP) and other groups are now discussing the possibility of establishing a separate political party or demanding reserved parliamentary seats.
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
Nasdaq-listed IT services company Cognizant has reported a 5.8 per cent year-on-year decline in consolidated net profit for the March quarter to $546 million. The company in a release said its revenue guidance for the full year 2024 is "unchanged" in the band of 2 per cent decline to a 2 per cent growth in constant currency.
Wipro's new CEO Srinivas Pallia will receive an annual remuneration of up to $6 million (about Rs 50 crore), according to a regulatory filing by the Bengaluru-headquartered IT company. Earlier in April, Wipro announced the appointment of Pallia as its new CEO and MD, following the sudden resignation of Thierry Delaporte. Delaporte's annual salary of over Rs 80 crore at Wipro had made headlines last year.
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.'
The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
The increased outlay, the ministry says, will be used for river and lake cleaning and pollution control.
Technology major Apple earned nearly one-third of its revenue from emerging markets and doubled its business in India and Vietnam in fiscal 2021, according to its CEO Tim Cook said. Apple posted a 29 per cent year-on-year growth in revenue at $83.4 billion in the fourth quarter ended September 25, 2021. Its net income stood at $20.55 billion in the said quarter as against $12.67 billion in the year-ago period.
His transformational vision and strategic orientation played a crucial role in navigation of BMW Group India in a challenging business environment.
Manchester City have one just victory from their last 10 games across all competitions.
Employers seek individuals who can prioritise tasks, solve problems, and work within deadlines, notes Ankit Aggarwal, founder and CEO, Unstop.
'In India, managers and the leadership almost glorify overworking.'
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
Tara completes a landmark... Mallika's favourite colour... Ibrahim goes to Miami...
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
Finance Minister Nirmala Sitharaman's Budget proposals lay out a comprehensive road map for transforming India into a developed nation, focusing on key priorities that aim to generate ample opportunities for all citizens in "Viksit Bharat". It sets the stage for sustained economic growth, social development, and technological advancement.
Let's take a look at 25 companies in the United States that pay one of the highest salaries and know how to keep their employees happy.
Prakash Javadekar's one year as India's minister of state (independent charge) of environment, forests and climate change has been an unmitigated disaster, says activist Himanshu Thakkar.
'Asset allocation should be driven much more by long-term factors rather than the market scenario at any particular point in time.'
Kansai Nerolac Paints has seen its market capitalisation (mcap) erode by over 5 per cent since May 3 after posting a subpar performance in the fourth quarter of 2023-24. Weighed down by stiff competition, the company has shed Rs 1,172 crore over the past two weeks in mcap. India's largest paint maker in terms of mcap, expects double-digit growth in the industrial segment and aims to maintain margins, but its performance in decorative paints could suffer amid competition.
'We want to play the value game for our consumers, which is health and retail will grow faster for us than the group.'
Why is the Big Apple welcoming our pachyderms? And how is India teaching the world about living with wildlife?
'Dynastic politics has become a tool of convenience for political parties. The BJP does not hesitate to accept it when it comes to its own alliance or party candidates. The same goes for the others.'
An individual with a self-learning attitude is critical to surviving and growing in a competitive environment, says Narayan Mahadevan.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
Uddhav said Modi lacks the self-confidence of 2014 and 2019.
India Inc has high hopes from the upcoming Budget.
IT services company HCLTech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. For the fiscal's first quarter ended June 2024 (Q1 FY25), the revenue came in at Rs 28,057 crore, 6.6 per cent more than in the year-ago period. Seen sequentially, it was 1.6 per cent lower than the March quarter.
While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
He said his government was committed to further reform policies to boost 'Make in India' and for creating conducive business environment through stable and transparent regulatory mechanisms
'A lot of them are converted to other tokens, and since crypto is dealt with internationally, it can go to any exchange in any country.'
A bench headed by Chief Justice DY Chandrachud, which had taken cognisance of the incident, has kept the matter on top of the cause list for hearing at 10:30 am on Tuesday.
Wipro is betting on artificial intelligence (AI) and Cloud computing to earn more from its biggest contributor - the banking, financial services & insurance (BFSI) sector - which brought in 35 per cent of the revenue in FY23. The Bengaluru-headquartered firm also expects its consultancy arm Capco to aid in its vision. "Over the past few years, we have made significant investments in the BFSI sector and have improved our talent, capabilities, and processes in this space - both through organic investments and with the addition of Capco," Suzanne Dann, Wipro's chief executive officer for Americas 2 said.
IT major Wipro on Friday posted a 4.6 per cent year-on-year rise in its consolidated net profit for the June quarter at Rs 3,003.2 crore. The Q1 FY25 revenue of the Bengaluru-headquartered firm, however, fell 3.8 per cent to Rs 21,963.8 crore.
