Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
For the company's latest energy initiative to expand its green energy and storage portfolio, some analysts are beginning to suggest a closer look at some of its segments. In his address to shareholders in the company's FY22 annual report, billionaire Mukesh Ambani, chairman and managing director of the company, said: "The green energy value holds great promise to outshine all our existing growth engines in just 5-7 years." The company has marked an investment of Rs 75,000 crore towards its new energy plans, which include solar energy value chain, green hydrogen, energy storage and other similar businesses.
Hospitality and travel sector players on Tuesday demanded infrastructure status for the hotel industry besides measures such as tax exemption on LTA annually to boost domestic tourism ahead of the Union Budget. They also recommended removal of the current TDS levied on automated bookings for internal or closed user groups such as business travel platforms and reducing the total number of licenses required to establish a hotel. "A full-blown infrastructure status for the hotel sector and further rationalisation of the Goods and Services Tax (GST) and a Central single window clearance for hotel projects are some of the major expectations from the Budget 2024," Roseate Hotels & Resorts CEO Kush Kapoor said in a statement.
'There will be 200 ITIs developed as hubs, while 800 will be developed as spoke, connected with five National Skill Training Institutes.'
Billionaire Gautam Adani's group is building the world's largest renewable energy park in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from solar energy. Speaking at the opening of 'Energy Revolution: The Adani Green Energy Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. "As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said.
Looking for fun things to do as family during this sunny season?
Vikrant Massey is a man of undeniable talent. But he too can't rise above Blackout's derailed script that reduces the likes of Jisshu Sengupta, Chhaya Kadam and Mouni Roy to chumps, observes Sukanya Verma.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Modi said "timing" is very important to deal with any crisis and "decisions taken at the right time have helped a lot in controlling the coronavirus infection in the country".
In the first 100 days of the next government, the ministry of skill development and entrepreneurship (MSDE) is planning to introduce new-age courses to suit the changing industry needs. It is set to standardise skilling courses to facilitate easier migration of workers and introduce counselling and mentorship on the Skill India Digital Hub (SIDH) portal. On Sunday, Prime Minister Narendra Modi - during a Cabinet meeting - was reported to have instructed his ministers to draft roadmaps for the first 100 days and next five years of the next government.
The Reserve Bank of India on Thursday said banknotes in circulation witnessed higher than average increase during 2020-21, on account of precautionary holding of cash by people due to the COVID-19 pandemic, and its prolonged continuance. The value and volume of banknotes in circulation increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21, as against an increase of 14.7 per cent and 6.6 per cent, respectively, witnessed during 2019-20, said the RBI annual report. In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 85.7 per cent of the total value of banknotes in circulation as on March 31, 2021, as against 83.4 per cent as on March 31, 2020.
Having created businesses ranging from world's largest single-location oil refining complex to nation's largest mobile network operators in just few years, billionaire Mukesh Ambani says his group Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates of the world. Addressing employees on Reliance Family Day - the birthday of the group's founder Dhirubhai Ambani, he said Reliance is now aiming to consolidate a place among global leaders in digital data platforms and AI adoption. "Today, the domestic and global environments for business are changing very fast.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months. The management has reaffirmed that growth would be in double digits over the coming two fiscal years. Growth is expected to be driven by a pickup in domestic infrastructure spending.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
Exports contracted by 2.6 per cent to $34.47 billion in September even as the country's merchandise trade deficit narrows to $19.37 billion during the month under review, according to the government data released on Friday. Easing commodity prices helped in cutting down the country's import bill by 15 per cent to $53.84 billion in September, the 10th consecutive month of decline. During April-September this fiscal, exports contracted by 8.77 per cent to $211.4 billion.
Prime Minister Narendra Modi on Tuesday said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with "mission-mode" reforms being undertaken by his government. Speaking at the BRICS Business Forum Leaders' Dialogue in Johannesburg, Modi also said India soon will become a $5 trillion economy.
The three-day India Mobile Congress (IMC) will showcase the widening convergence of telecom with new domains, such as semiconductors and deep tech, P Ramakrishna, the forum's chief executive officer, said on Tuesday. With more than 250 global and domestic exhibitors, the seventh edition is expected to draw more than 100,000 visitors this year, he said. There will also be over 5,000 CXO-level delegates and more than 350 speakers.
"The budget adopts following seven priorities -- inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector," she said.
On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
rediffGURU Krishna Kumar, founder and CEO of GoMoTech, offers expert advice on how to scale up in your career and life.
'India's G20 presidency has been inclusive, ambitious, decisive, and action-oriented. We actively voiced the developmental concerns of the Global South'
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
Planet Nine, if it exists, is somewhere between 6-10 times the mass of Earth, and it may have an orbit that takes it around the sun once every 1,500 Earth years or more.
Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust. Sitharaman was replying to a question by Kris Gopalakrishnan, chairman, Global Fintech Fest (GFF) 2022 advisory board, who wanted to know how to ensure trust among industry, regulators, and the government. "I don't want to sound cliche, but distance brings distrust. "So, cut the distance down, have greater engagement with the government," the minister said.
Chidambaram promises to maintain fiscal discipline; admits inflation is an issue.
Fighter's distressing lack of thrills and sizzle reduces the exercise to an excuse for tedious amounts of Pakistan bashing, observes Sukanya Verma.
JSW Steel (3.37 per cent), Tata Steel (3.33 per cent), Maruti (3.24 per cent), Power Grid (3.07 per cent), IndusInd Bank (2.95 per cent), Bajaj Finance (2.12 per cent) and Tech Mahindra (2.22 per cent) were among major gainers. On the other hand, Ultratech Cement, Sun Pharma, Nestle and L&T were the losers.
With her knock, Bates became the first batter to score 1000 runs in Women's T20 World Cup.
The Rajya Sabha on Tuesday gave its green light to the Multi-State Cooperative Societies (Amendment) Bill 2023. This Bill introduces significant amendments to the Multi-State Cooperative Societies (MSCS) Act. These modifications aim to enhance the transparency and accountability of these cooperatives' operations in a bid to improve governance.
'It's dull because this time the election is spread over such a long period.'
