A slowdown in hiring by India's top IT companies has resulted in a sharp increase in the industry's profit per employee in Q3FY23. The top four IT companies earned a net profit of 1.7 lakh per employee during October-December 2022, up 8.6 per cent from Rs 1.57 lakh in Q2FY23 and 16.3 per cent from a record low of Rs 1.47 lakh in Q1FY23. Earnings per employee in the third quarter were, however, still down 0.9 per cent on a year-on-year (YoY) basis.
The first step to keeping your job safe, experts tell Rediff.com's Divya Nair, is understanding why layoffs happen.
Labelling science and technology as the 'determinants of economic growth,' Prime Minister Manmohan Singh on Saturday said India will have to make strides in these two fronts if it is to gain a position among the world's developed nations.
The US is planning to resume the process of domestic visa revalidation in certain categories, like H-1B and L1 visas, on a pilot basis later this year, a move that will benefit tens of thousands of foreign tech workers, particularly from India. Until 2004, certain categories of non-immigrant visas, particularly the H-1B, could be renewed or stamped inside the US. After that, for the renewal of these visas, in particular, those on H-1B, the foreign tech workers have to go out of the country, mostly to their own country to get the H-1B extension stamped on their passport.
Apple, along with other technology companies, is allowed only to report such numbers in increments of 1,000
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
Ratan Tata, Chairman Emeritus of the Tata Group, on Sunday said ace investor Rakesh Jhunjhunwala will always be remembered for his acute understanding of the markets as well as for his jovial personality, kindness, and foresightedness. Jhunjhunwala, often referred to as 'India's Warren Buffett', passed away here Sunday morning due to a cardiac arrest. He was 62. Jhunjhunwala had investments in more than three dozen companies, the most valuable being watch and jewellery maker Titan, part of the Tata conglomerate.
There is only one perpetrator, Hamas. It is a terrorist organisation. It is obscene to argue that until the Palestinian question is solved, anybody has the right to use terrorism as an instrument of policy, argues Shekhar Gupta.
Godrej and Big Bazaar have stood out in the consumer goods and service spaces by acing the challenge of aligning innovation with outcome.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
Net leasing of office space is likely to rise by 41-49 per cent across seven major cities this year on a lower base and improved demand post-pandemic, according to JLL India. Net absorption or leasing of office space stood at 26.2 million square feet in 2021, and it is likely to be in the range of 37-39 million square feet this year across seven cities -- Bengaluru, Delhi NCR, Chennai, Hyderabad, Kolkata, Mumbai and Pune. Nevertheless, the net office leasing will remain lower than the record absorption achieved in 2019 -- the pre-COVID year -- at 47.9 million square feet.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Investments totaling over $9.5 billion in Jio Platforms by a clutch of private equity firms, following social media giant Facebook's $5.7 billion mid-April investment in the company, helped overall.
The proposals are mostly based on a report submitted by Justice B N Srikrishna in July 2018. The draft Bill has since gone through at least two updates based on inputs received from industry, report Yuvraj Malik and Peerzada Abrar.
No matter how impossible the mission seems, we know Tom Cruise will get the job done as we eagerly await his next daring stunt, cheers Mayur Sanap.
Disney-Star is positioning IPL as a "big-screen experience" where families and friends can come together over a game of cricket, much the way football is consumed in Europe and other parts of the world.
From the Sensex pack, State Bank of India, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, Reliance Industries were among the major laggards. Bucking the trend, auto stocks Tata Motors and Mahindra & Mahindra closed with gains.
US hedge fund Tiger Global and Japanese investment giant SoftBank have trimmed their investments in Indian start-ups by over a third - from $3.8 billion in the second half of 2021 to a mere $1.08 billion in H1 2022, according to data from Venture Intelligence. While SoftBank's investments in India dropped from $1.9 billion in H2 2021 by more than a fifth to only $0.33 billion in H1 2022, that of Tiger Global fell from $1.92 to $0.74 billion in the same period. Private equity (PE) fund trackers point out that this year most of the deals that Tiger Global has invested in are in the early stage (up to series D), and only a few are in the series E and above.
'Such big falls are quite frequent these days, so do not try to time this market.' 'Use big dips to accumulate quality stocks.'
With Sundar Pichai becoming the CEO of Google, India has one more reason to cheer its prowess in the global IT sector.
Siva Prasad Nanduri, chief business officer, TeamLease Digital, outlines the skills that will help you get a job in 2023.
Indian telecom operators have surpassed the three- year 5G network rollout target given to them within six months and now the government is making efforts to enhance adoption of 5G applications across various key segments, a senior government official said in Barcelona. Department of Telecom Additional Secretary VL Kantha Rao told PTI at "India Evening" event on the sidelines of Mobile World Congress 2023 that the government has hosted over 50 companies at the India pavilion and the delegation is here to showcase indigenously-developed 4G and 5G technology stack. "When the spectrum was allocated to telecom service providers for 5G rollout, we gave a minimum rollout obligation saying that within one year they have to cover a few cities within three years, a few towns and so on and so forth.
Did you know that a food security officer in a leading company can earn upto $84,000 a year by just protecting data?
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on Thursday, tracking a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment. Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33.he broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
'We have gone through more than what any company will go through.'
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
Shares of companies having investments of late billionaire investor Rakesh Jhunjhunwala ended on a mixed note on Tuesday. The 62-year-old investor, who was known as the Big Bull and Warren Buffett of India for his investment acumen, passed away on Sunday. Jhunjhunwala had investments in more than three dozen companies, the most valuable being watch and jewellery maker Titan, part of the Tata group. Titan ended 0.88 pe cent higher at Rs 2,493.65.
Ace stock market investor Rakesh Jhunjhunwala, often referred to as India's own Warren Buffet, passed away at the age of 62.
The move assumes significance as a series of reports recently citing internal documents showed "a struggle with misinformation, hate speech and celebrations of violence" in India - Facebook's biggest market with over 40 crore users.
India's second largest IT services company Infosys on Thursday made it clear that the company does not support moonlighting and said it has fired employees who were into dual employment over the last 12 months. Infosys, however, did not divulge the exact number of people who were "let go" on account of moonlighting. Last month, Wipro chairman Rishad Premji revealed that some 300 employees were fired as the IT services company had no place for any employee who chose to work directly with rivals while being on Wipro payrolls.
By 2026, around 25 per cent of the global population may spend at least an hour a day on Metaverse. This will open the doors for many businesses, the NFTs market will spread, and Web 3.0 will attract more investment.
'Our preference remains for the less-expensive industrial stocks, which are showing good earnings momentum.'
'We want to look at very strong entrepreneurial teams.' 'I want to focus on a full team and not just the entrepreneur, which is building innovative and amazing differentiated businesses in large markets.' 'We also look at business models that are proven and have reasonably good gross margins, which show that this is where a lot of value is getting built.'
Elon Musk's decision to drop the idea of acquiring Twitter over purported under-reporting of fake accounts due to the use of bots has opened a can of worms on what is a growing and crucial problem - advertisers who put in money based on these falsified numbers (which is the mainstay revenue of these platforms) are making losses; they are paying for bots in the guise of viewers. mFilterIt - a global digital and advertising (ad) fraud detection and protection company in India - says search engines like Google have the lowest average ad fraud rate of 10-12 per cent, based on the inference arrived at while working with clients that use these platforms. This means 10-12 per cent of the ad viewership is generated by machines.
Sensing a huge opportunity in the healthcare sector during the Covid-19 pandemic and its aftermath, private equity (PE) players are upping their investments in the space. According to data from research platform VCCEdge, the PEs have together invested a staggering $583.82 million in the first five months of 2021 in five deals, which is the highest investment in the sector in the last five calendar years - from 2016 to 2020. The second highest investment in the sector took place in 2017, when PEs invested $503 million in 18 deals, with an average deal size of $29. 9 million.
'His expression was like a million dollars!'
Bangalore, India's high-tech hub, will also get a new airport that could replace its old congested one, in 2008.
'In investing, you have to first make sure you don't make big mistakes.' 'I would advise small investors to be systematic, don't be arbitrary; don't be on either end of the risk spectrum.' 'Don't go from fixed deposit to option trading or crypto trading.'
The three-judge panel of the 3rd US Circuit Court of Appeals on Friday upheld a previous ruling that dismissed the Trump campaign's request for an injunction in the case in Pennsylvania to challenge the election results and slammed the lawsuit.
