The appliance makers expect a good churn in the festive season, led by the government's proposal to reduce the GST slab on air-conditioners from the current 28 per cent to 18 per cent, which will reduce the price from Rs 1,500 to Rs 2,500 depending on the models.
Foreign portfolio investors (FPIs) have invested Rs 25,300 crore through the anchor book for IPOs in 2024, surpassing the Rs 20,351 crore invested by domestic mutual funds (MFs). FPIs accounted for 46.6 per cent of shares sold in the anchor category, the highest share since 2021, according to PRIME Database.
Tech giant Microsoft regained the top spot in the list of best employers to work for in India in 2024, followed by Tata Consultancy Services (TCS) and Amazon, according to a Randstad Employer Brand Research report released on Wednesday. Microsoft had topped the list in 2022, but slipped to fifth in 2023. The 2024 list is based on responses from 3,507 people.
With the rush of growth after the pandemic slowing down, many leaders are moving to firms that may be smaller but are growing much faster and have the headroom to grow.
The banking system neared Rs 1.47 trillion of liquidity deficit on Monday, the highest since January 29, 2020, when the banking system liquidity deficit went up to Rs 3 trillion. The Reserve Bank of India (RBI) injected Rs 1.47 trillion on Monday and Rs 1.46 trillion on Tuesday. Market participants say that the disbursement of Rs 25,000 crore as the second tranche of incremental cash reserve ratio (I-CRR) will not be enough, and the liquidity might tighten further to Rs 2 trillion in short term due to tax outflows and arrival of the festival season.
Trouble started brewing after Cognizant announced that Ravi Kumar, former Infosys president, would take over as the Nasdaq-listed company's CEO.
India's total value of defence production breached Rs 1 trillion-mark in the fiscal year 2022-23 (FY23), up 12 per cent year-on-year (YoY). At the bourses, this has been well reflected in related-stocks from the sector as they gained considerable ground during this period. Shares of Hindustan Aeronautics (HAL), Mazagon Dock Shipbuilders, MTAR Technologies, Bharat Electronics (BEL), and Bharat Dynamics (BDL) have skyrocketed up to 160 per cent in a year, as against a 14 per cent jump in the S&P BSE Sensex.
FMCG major HUL on Friday announced the appointment of Rohit Jawa as the managing director & chief executive officer to succeed Sanjiv Mehta who will retire from the company after leading it for a decade. Jawa, presently the Chief of Transformation for Unilever, would take over the leadership role for a term of five consecutive years with effect from June 27, 2023, the company said in a statement. "The appointment of Rohit Jawa as a whole-time director and MD & CEO will be subject to approval of Shareholders and other statutory approvals as may be applicable," it added.
UK-headquartered consumer goods giant Unilever on Tuesday announced a major organisational shakeup to make the company leaner, which involves some of its Indian-origin executives, and plans to lay off 1,500 staff as part of the wider restructuring of its global operations. Sanjiv Mehta retains executive leadership of Mumbai-headquartered subsidiary Hindustan Unilever, while Unilever chief operating officer (COO) Nitin Paranjpe will take on a new role as chief transformation officer & chief people officer, leading the business transformation and heading the HR function for the transformed organisation. The company said Sunny Jain, president of beauty & personal care, has decided to leave Unilever to set up an "investment fund in technology megatrends".
Equity benchmark Sensex ended marginally higher after a choppy session on Friday as concerns over the economic impact of the second wave of Covid-19 and pace of vaccination weighed on investor sentiment.
Overseas investors have pulled out a net Rs 1,14,855.97 crore from the Indian markets in the current year so far, amid heightened geopolitical tensions and inflation concerns. Foreign portfolio investors have sold domestic equities worth Rs 48,261.65 crore so far this month, taking the year-to-date tally this year to a massive Rs 114,855.97 crore, according to depositories data. The exodus of foreign investors was largely owing to inflationary pressures and deepening global macroeconomic conditions following the Russia-Ukraine war, experts said.
Home-grown auto major Mahindra and Mahindra on Monday unveiled a new visual identity, including a brand-new logo, exclusively for its SUV portfolio, ahead of the launch of its much awaited SUV, XUV700. The new brand identity is in tune with the company's focus to be makers of sophisticated and authentic SUVs. It heralds the strategic shift across Mahindra's SUV portfolio, where we are putting the building blocks in place for a new world with a range of authentic SUVs, the company said in a release.
Such attempts had risen sharply right before pandemic and early part of pandemic by 121 per cent.
A Towers Watson survey shows that there are few differences among companies on a critical metric that determines employee satisfaction
'It is very disturbing to know that even in today's world women are treated differently.'
Private sector lender Axis Bank on Wednesday launched the country's first contactless wearable payment devices to allow customers make on-the-go transactions more conveniently. Announcing the 'Wear N Pay' wearable devices brand, Axis Bank said it is the first bank in India to offer such a service. The bank has partnered with Thales and Tappy Technologies to design and create these products, which are exclusively available on the Mastercard platform, it said in a release.
The Interop Mumbai 2009 conference was off to an innovative start, with Wim Elfrink, Chief Globalisation Officer and EVP, Cisco Services, showing an amazed enterprise IT audience on how the Internet will transform the way we work.
ESOPs allow employees to own equity in the company, which is seen as a morale booster for them.
According to Randstad Employer Brand Research (REBR) 2020, Microsoft India scored high on financial health, strong reputation and utilisation of the latest technologies. Others in the top 10 list are Samsung, Amazon, Infosys, Mercedes-Benz, Sony, IBM, Dell, ITC and TCS.
In September, BlackBerry had paused the global rollout of its instant messaging service BBM on rival phones, blaming the delay on issues caused by an unreleased old version of BBM (BlackBerry Messenger).
For Krish Shankar, executive vice-president & group head of human resource (HR) development at Infosys, the defining moment of the pandemic on the HR department has been the importance that reskilling and learning have managed to get. For Infosys, the focus on reskilling started three to four years back as business saw a shift towards digital, and the pandemic has really brought the importance of reskilling to the fore. "In the past, certification courses or taking up an e-learning course was just a way towards promotion, and was not taken too seriously.
Despite inflation being a near-term concern, we feel its impact on economic growth is likely to be limited. The structural growth drivers remain intact and bode well for equities in the medium to long term.
In an interview with rediff.com Sabina Chopra, Yatra.com's co-founder and executive vice president, operations, spoke about the company's initial challenges, how they overcame them, their hiring plans and do's and don'ts for young entrepreneurs.
Cisco and Satyam had entered into a joint venture in 2007 to focus on healthcare management solutions. As a part of this announcement, Cisco had also lined up an additional investment of $100 million, targeting innovation.
IT major Infosys will acquire US-based oil and gas consulting firm Noah Consulting for $70 million.
'When guys with one, two, three, four followers troll, it isn't trolling.'
A month after taking over as Microsoft chief, Satya Nadella on Tuesday announced a major top-level reshuffle, which saw the heads of marketing and business development resigning.
Campus recruits can also aim to double the existing entry level package by proving their skills through the TCS national qualifier tests.
Mayer, a former high-profile Google executive, was brought in as Yahoo's CEO in 2012 to architect a turnaround that has largely failed to materialise
Infosys had paid Rs 75 crore (Rs 750 million) for buying 50 acres from the government.
For India to be atmanirbhar, domestic manufacturers cannot remain merely assemblers of imported parts. Manufacturing in India cannot survive on support of imports forever.
Insurance experts said since it may be difficult to set a tariff or fixed rates for Covid-19 treatment, an indicative rate chart has been proposed.
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Amadeus Altea Suite, a complete passenger service system, is currently used by more than 120 airlines across the world. Vistara is a 51:49 joint venture between Tata Sons and Singapore Airlines Limited.
TCS is hiring from over a hundred engineering campuses, MBA graduates from top B-schools in the US
Forty-two per cent employees could potentially leave their job in 2 years.
The US had initiated investigation against Infosys and its larger rival Tata Consultancy Services (TCS) for possible violations of H-1B visa rules in June.
Cisco, which employs about 73,000 people worldwide, has warned against a 'challenging macro environment'
Leading computer makers, including Lenovo and HP, are set to hike prices of their products by up to 10 per cent in coming weeks, hit by increasing input costs due to rupee's southward journey.
With the appointment of Vishal Sikka as CEO and Managing Director of the company, IT major Infosys has elevated 12 leaders to the position of Executive Vice President with additional responsibilities.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
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