IT major TCS on Thursday posted a 28.5 per cent increase in consolidated net profit at Rs 9,008 crore for the first quarter ended June 30, 2021. The country's biggest software services firm had posted a consolidated profit of Rs 7,008 crore in the same quarter a year ago. Consolidated revenue from operations increased by 18.5 per cent to Rs 45,411 crore compared to Rs 38,322 crore in the corresponding quarter of 2020-21.
Glimpses of The Legend from our archives.
The country's current account deficit is likely to hit a three-year high of 1.8 per cent or $43.81 billion in FY22, as against a surplus of 0.9 per cent or $23.91 billion in FY21, a report said on Thursday. According to an assessment by India Ratings, the Current Account Deficit (CAD) has moderated to $17.3 billion or 1.96 per cent of GDP in the fourth quarter of FY22 as against $8.2 billion or 1.03 per cent in the year-ago period, and massively down from $23.02 billion or 2.74 per cent in Q3, which was a 13-quarter high. The improvement in the key numbers are due to the remarkable improvement in merchandise exports in FY22, when it grew 42.4 per cent as against a negative 7.5 per cent in the pandemic-hit FY121.
Incredible images depicting the scientific world give a beautiful insight into the academic world. A shortlist of images from the Royal Photographic Society's science photographer of the year competition has been released and includes images from the macroscopic to the microscopic. The winning images will be revealed in October to coincide with the opening of the free exhibition. The Science Photographer of the Year exhibition will run at the Science Museum from October 7-January 5.
'We continue to believe that the global economy will narrowly avoid a recession, despite expecting the US, Canada, and most of Europe to fall into recession at some point over the next year or so.'
Rakesh Jhunjhunwala's holding value in Nazara Technologies crossed the Rs 1,000-crore mark. In the past one month, the market price of Nazara, a diversified gaming and sports media platform, has zoomed 78 per cent. In comparison, the Sensex was up 3 per cent during the same period.
'Even though as Xi will seemingly continue to stay in power beyond his third term, competitions for the post-Xi leadership would be inevitably unfolded beneath the surface of water, and that will be a big headache for Xi the dictator.'
According to The Hollywood Reporter, the special is titled "Oprah With Meghan and Harry" and it will air on the network on March 7.
The world is witnessing the fourth surge of the COVID-19 pandemic and India has to be on guard and cannot afford to slacken, said Union health secretary Rajesh Bhushan on Friday.
The country's demographic dividend is dissipating, with seriously adverse consequences for young India, asserts Shankar Acharya, former Chief Economic Adviser to the Government of India.
'If you look at the big opportunity, it is sitting in markets like India, Southeast Asia and Brazil. The US and Europe are very strategic markets for us because they tell us whether we're fit to compete.'
A surge in international oil prices may translate into an increase in the retail selling price of petrol and diesel in India as oil companies face extreme margin squeeze, sources said. Petrol and diesel prices have remained unchanged for 12 days but now the international rate surge is exerting pressure. Current prices of petrol and diesel in the international market are higher by around $4-6 per barrel as compared to average prices during August. However, no increase in retail prices has been affected by oil companies so far, sources said.
Undeterred by travel restrictions being put in place in anticipation of a third-wave of Covid-19 pandemic, there has been a steady growth in overseas job searches by Indians with the US, Canada, the Middle East and the UK topping the list, according to a report. The search activity from India for jobs in other countries was highest between November 2019 and April 2020, where it witnessed a 72 per cent jump, but it declined sharply after the second wave of Covid-19 hit the world, forcing nations to reinforce travel restrictions, global job site Indeed said in a report. However, soon after the world recovered from the second wave of the pandemic, job searches for overseas opportunities picked up and continued to remain steady, it stated.
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".
China will use airpower to support Pakistan from the start of a war. China will use the opportunity to at least take Ladakh. Its growing navy will prevent India from blockading or attacking the Makran Coast. And thanks to Chinese weapons, Pakistan keeps expanding its forces, observes Ravi Rikhye.
Reliance Retail Ventures Limited (RRVL) on Thursday said it has entered into a Master Franchise agreement with 7-Eleven to run convenience stores in India. The first 7-Eleven store is set to open on Saturday, in Andheri East, Mumbai, RRVL, the retail arm of Reliance Industries Ltd, said. "RRVL, through its wholly-owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc (SEI) for the launch of 7-Eleven convenience stores in India," said a joint statement.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
'It is only when Beijing sees a country with an infirm political will such as India that it acts up as the PLA has done in eastern Ladakh.'
The survey covered 1,210 IT executives and technology professionals from North America, the United Kingdom, Australia, New Zealand, Singapore and India. In India, 202 respondents from businesses with more than 500 employees across 18 industry verticals completed the survey. Overall, 89 per cent of the respondents said implementing a work-from-home policy had increased security challenges for their organisations. The risk posed by shadow IT was especially high, with 89 per cent of companies having no control over the software that employees purchase and install on their devices.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
Located in a small township in the eastern part of Bengaluru is IBM's new Security Command Centre, which is surrounded by offices of multinational tech companies. This unit is the centrepiece of IBM's multi-million dollar investment to help businesses prepare for the growing threat of cyberattacks across the Asia-Pacific (APAC) region. This facility is the first of its kind in the region. It helps train in cybersecurity response techniques through highly realistic and simulated cyberattacks.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
The research, published in the journal PLOS Pathogens on Thursday, suggests that the first case of COVID-19 arose between early October and mid-November, 2019 in China, with the most likely date of origin being November 17.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
'Our family philosophy is to build a bridge between India and Britain.'
The event includes several safety measures designed to mitigate the potential spread of coronavirus, including COVID-19 testing for participants and regular temperature checks
India is the most polluted country in the world, with more than 480 million people or about 40 per cent of its population living in the Indo-Gangetic plains in the north where pollution levels regularly exceed those found anywhere else in the world by an order of magnitude, stated the University of Chicago's Air Quality Life Index (AQLI) report.
Outgoing Indian envoy to China Vikram Misri on Monday had a virtual farewell call on Chinese Foreign Minister Wang Yi during which he said that "certain challenges" had overpowered the vast opportunities in the bilateral ties last year and hoped that with continued communication the two sides would be able to resolve the current difficulties.
French IT firm Atos is planning to hire 15,000 people in the next 12-18 months in India, including climate experts, as it moves towards decarbonisation by 2028, chief operating officer (COO) Nourdine Bihmane said. "India is a strategic market for Atos. "We have been present here for the last 30 years, and we have grown organically since. "People and innovation are our two key drivers to build momentum. "India represents one-third of our total workforce," Bihmane said. Atos has around 40,000 employees in India.
Aarohi Pandit, the world's first woman pilot to cross the Atlantic Ocean and Pacific Ocean solo in a light sport aircraft (LSA), is all set to re-enact on 15th of this month India's first commercial flight flown by the legendry J R D Tata in 1932.
The film will releases both in theatres and digitally, reveals Subhash K Jha.
Kerley, hoping to be the first American winner since Justin Gatlin in 2004, ran brilliantly for second, with De Grasse finishing fast in another lifetime best.
The story of Iceland is the story of life, notes Payal Singh Mohanka after a recent journey to that fascinating land.
The winners of the Natural History Museum's prestigious Wildlife Photographer of the Year competition were announced at an awards ceremony in London. American photographer Karine Aigner was announced as this year's Wildlife Photographer of the Year.
With 100 days until the start of the Winter Olympics, Beijing is promising a "simple and safe" 2022 Games - although preparations are anything but simple as China readies to host thousands of athletes and personnel as it battles COVID-19 flare-ups.
Tata Motor's owned Jaguar Land Rover (JLR) on Tuesday reported a 68 per cent increase in retail sales for the first quarter ended June 30 at 124,537 units as compared with the same period of the previous fiscal, reflecting the continuing recovery in demand from the COVID 19 pandemic. The company had retailed 74,067 units in the April-June quarter of 2020-21. However, wholesales, in particular, were lower than demand would have permitted due to semiconductor supply issues affecting the global auto industry, JLR noted in a statement.
India's second largest IT services company Infosys on Wednesday said its consolidated net profit grew by 11.9 per cent to Rs 5,421 crore for the September 2021 quarter. Infosys had clocked a net profit of Rs 4,845 crore in the same period last fiscal, according to a regulatory filing. The Bengaluru-based company saw its revenues rising by 20.5 per cent to Rs 29,602 crore in the quarter under review (Q2FY22) from Rs 24,570 crore in the year-ago period.
Foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation.
Russia's war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That's because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Russia and Ukraine are major providers of steel and raw materials to the world.
Curtailment of flights between India and China will help Air India and other airlines to boost their seat occupancy and market share.
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