Several states and UTs including Delhi, Maharashtra, Karnataka and Telangana have decided to opt for global tenders for procurement of anti-coronavirus shots with the domestic supply falling short to meet the rising demand.
Maninder Singh, the talented left-arm spinner, was taken to cleaners with utter disdain, but he never faced public wrath.
The S&P BSE Auto Index has been one of the biggest outperformers among sectoral indices over the past year with returns of 26 per cent. By comparison, the benchmarks - the National Stock Exchange Nifty50 and the S&P BSE Sensex - managed about 6-8 per cent during this period. Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages.
Customers embarking on multi-year technology refresh cycle and their increased focus on growth and transformation (G&T) initiatives are expected to provide strong growth levers for Tata Consultancy Services (TCS) in the medium and long term, its CEO Rajesh Gopinathan said.
Mindtree on Thursday said it will acquire the NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore, a move that will enable the mid-sized IT firm to capture opportunities in the IoT and Industry 4.0 space. The acquisition would enable Mindtree to capture opportunities in the IoT and Industry 4.0 market by leveraging NxT Digital Business capabilities to cross-sell and create holistic solutions for new prospects as well as for existing clients, a regulatory filing said. Capability in this space will bolster Mindtree's vision to leverage existing digital strengths and aim to become a 'Go-to business transformation partner' for clients, it added.
Housing finance company (HFC) PNB Housing is planning to focus on reducing delinquencies in 2023-24.
The Information and Broadcasting Ministry on Saturday clarified that the provision in the new digital media guidelines to block internet content in a case of emergency nature has been around as a rule since 2009 and was not recently introduced.
HUL believes that post Covid, the awareness about health and wellbeing and selfcare, has exploded and there is a mindset change from health as absence of disease, to health as a part of lifestyle.
Benchmark BSE Sensex rebounded by 344 points while Nifty closed above the 16,000 level in choppy trade on Friday, snapping the four-day falling streak on renewed buying interest from foreign funds and firm global trends. The 30-share BSE barometer climbed 344.63 points or 0.65 per cent to settle at 53,760.78. During the day, it jumped 395.22 points or 0.73 per cent to 53,811.37.
Scouting for talent in metros and larger towns is expensive. The cost of acquiring candidates at the entry level jobs for most IT, ITeS companies is estimated to be 15-17 per cent less than those in the metros and tier 1 cities.
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. The combined net profit of the Nifty50 companies (excluding Adani Enterprises) is expected to have grown 15.6 per cent to Rs 1.77 trillion in Q4FY23, from Rs 1.53 trillion a year ago.
Benchmark BSE Sensex settled above the 63,000-level for the first time on Wednesday, extending its winning momentum to seventh day amid a largely positive trend in global markets and continuous foreign fund inflows.
Defence Minister Rajnath Singh on Wednesday conveyed to US Defence Secretary Lloyd Austin India's concerns over Washington's decision to provide sustenance package for Pakistan's F-16 fighter jet fleet.
Benchmark equity index Sensex and Nifty gave up early gains and ended lower on Monday as investor sentiment was hit due to unabated foreign fund outflows and losses in index heavyweights Reliance Industries and HDFC Bank. The 30-share BSE Sensex declined 168.21 points or 0.28 per cent to settle at 60,092.97 as 15 of its constituents dropped. The barometer opened higher and touched a high of 60,586.77 in morning session. Later in the day, it fell 297.35 points or 0.49 per cent to 59,963.83.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
After waiting for months for Satyam Computer Services to honour their job offers, several wannabe Satyamites finally landed at the scam-hit company's headquarters in Hyderabad to get an assurance on their jobs. Satyam has been the preferred choice for many students and colleges alike. But over the last couple of years, the company has either reduced the intake or stopped going to institutes for recruitment. The company usually recruited in advance anticipating new projects.
Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
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.
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
Educational technology giant Byju's has taken a loan of Rs 300 crore from its subsidiary Aakash Educational Services (AESL), which it acquired for nearly $1 billion last year. AESL, in its filing with the Ministry of Corporate Affairs, said that Think & Learn - the parent firm of Byju's - is in need of funds for its 'principal business activities'. It said the board of directors of the company at its meeting on October 3, subject to the approval of the members at the general meeting, has given its approval for granting the unsecured loan to Think & Learn for an amount not exceeding Rs 300 crore.
ITC was the biggest gainer in the Sensex pack, rising nearly 3 per cent, followed by Kotak Mahindra Bank, ICICI Bank, Maruti, Bharti Airtel, State Bank of India, Sun Pharmaceutical Industries, Axis Bank, Reliance Industries, Hindustan Unilever and JSW Steel. On the other hand, Infosys, UltraTech Cement, HCL Technologies, Bajaj Finserv, Larsen & Toubro, Titan, Tata Consultancy Services and Wipro were the laggards.
The Indian arm of the Union for Information & Technology Enabled Services is planning to file a public interest litigation against the alleged 'arbitrary policy' of many Indian and multinational IT/ITeS firms in India who have, for the past two months, reportedly been enforcing longer working hours that violate the daily eight-hour working mandate of the Indian Factories Act, 1948.
All employees should supplement the employer-sponsored health cover with a personal cover.
Benchmark stock indices Sensex and Nifty rebounded to close over 1 per cent higher on Thursday, propelled by buying in index majors Reliance Industries, HUL and Infosys along with an overall positive trend in global markets. The 30-share BSE benchmark jumped 701.67 points or 1.23 per cent to end at 57,521.06. During the day, it zoomed 971.46 points or 1.70 per cent to 57,790.85 on the expiry of derivatives contracts. The NSE Nifty rallied 206.65 points or 1.21 per cent to 17,245.05.
The government on Thursday ordered blocking of eight YouTube channels, including one operating from Pakistan, for allegedly spreading disinformation related to India's national security, foreign relations and public order.
Last week, Twitter had blocked Union Information and Technology Minister Prasad from accessing his account which ratcheted up tensions with the government as it came under renewed attack for not following local laws.
The early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Net sales growth of these companies, however, slowed down to 11.5 per cent YoY in January-March 2023, the slowest rate in eight quarters.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
"Though, for a student, receiving a master's degree is no less than any prestigious award. But on October 19, (the Convocation Day) I Sameer Gojwari won't accept it," said the student.
'While we have done a few thousand kilometres in India, most of the testing and data collection and analysis has been done in the US, Japan and Europe.'
Equity benchmark indices ended lower on Friday, halting their eight-day rally, amid a weak trend in global markets and emergence of profit-taking. The 30-share BSE Sensex fell 415.69 points or 0.66 per cent to settle at 62,868.50. During the day, it tanked 604.56 points or 0.95 per cent to 62,679.63.
The markets may be entering a consolidation phase and are expected to trade sideways for now after a good run in the last few weeks, suggest analysts. In this backdrop, they suggest investors can book profits at the current levels and enter the market again on a decline from a medium-to-long term perspective. Thus far in fiscal 2023-24 (FY24), the S&P BSE Sensex has moved up around 5 per cent to nearly 62,000 levels.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Engineers based in India are estimated to be writing roughly 35 per cent of the 100 million lines of codes required to develop one fully driverless car for global vehicle makers.
Equity benchmark indices Sensex and Nifty buckled under selling pressure after a nine-session rally on Monday, as massive sell-off in IT, tech and telecom counters unnerved investors.
Earlier in the day, a meeting of DMK's administrative committee adopted a resolution urging Prime Minister Manmohan Singh to remove Maran.
Senior Tesla executives including those from its supply chain are planning to come to India on Wednesday and Thursday for meetings with government officials, including those in the Prime Minister's Office, according to sources. Prashant R Menon, director of Tesla India, did not respond to a specific query on the meetings. Sources say that the executives are coming to see how they can expand and develop local sourcing of components from India for the Tesla car.
The Nifty IT has been one of the worst-performing indices on the bourses this calendar year. Rising concerns of a potential global recession, which investors fear can dampen demand for export-facing domestic information technology (IT) giants, have sent the index down over 30 per cent on a year-to-date basis. By comparison, the Nifty50 Index has shed 2.8 per cent during the period, reveals data by ACE Equity.
From the 30-share pack, Titan, Tech Mahindra, Maruti Suzuki India, Wipro, Nestle India, TCS, Larsen & Toubro, HCL Technologies, Tata Steel and HDFC Bank were among the major laggards. NSE Nifty declined 69.75 points to settle at 17,153.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
