Market regulator Sebi does not expect a large number of foreign portfolio investors to be impacted by the new beneficial ownership disclosure norms, according to sources. The norms are set to come into effect from February 1 and against this backdrop, the equity market has witnessed significant volatility, with the benchmark Sensex crashing over 1,000 points on Tuesday after shedding early intraday gains. The sources in the know said FPIs which may be required to provide enhanced disclosures are expected to be significantly less than estimated in the consultation paper and the Sebi board note of October 2023.
Among the Sensex firms, ITC, Kotak Mahindra Bank, ICICI Bank, Nestle, Axis Bank, IndusInd Bank, UltraTech Cement, Bajaj Finance, Maruti and HDFC Bank were the major laggards.
Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam--now ranked among the top 20 offshoring locations, the report said.
Labour cost advantage associated with offshoring information technology services to countries like India, China and the Philippines, are declining.
India may have been hailed for long as the world's top outsourcing destination, but according to a survey in the annual Black Book of Outsourcing, as many as 8 Indian cities are among the world's 25 riskiest places for offshoring.
Certain changes in the past two or three years could have a long-term structural impact on the IT services market.
Global management consulting, technology services and outsourcing company, Accenture has announced a grant of $200,000 to an organisation working for the under-privileged children in developing nations, including India, Nepal, Cambodia and Vietman.
'From our survey we found that there was a problem in the agricultural sector and drones could solve the problem.'
Krithi Krithivasan is the kind of person one might look to when the need is to calm things down and put things back on track.
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
'Unless the government comes up with the rulebook, the technical requirements will not be clear to us.' 'Going by the Act, non-technical provisions can be complied with within six months.' 'But we need up to 24 months for provisions like parental consent.'
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
Global management consultancy firm McKinsey has moved the Bombay high court against Reliance Industries and Reliance Communications for non-payment of dues of Rs 27 crore
Accenture, a global management consulting, technology and outsourcing company, plans to increase its headcount in India to 35,000 from 27,000 this year.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
At 5 per cent, Mumbai is likely to witness the highest rise in residential prices in 2024, a report released on Wednesday said. New Zealand's Auckland will also see a price rise of 5 per cent. According to real estate consultancy Knight Frank's "Prime Global Cities Index", improving gross domestic product (GDP) figures, Mumbai's relative value and investment in infrastructure will be the prime influencers in pushing prices higher for the luxury housing market in the city.
North American automotive executives have picked India over China as the most popular offshore destination for the migration of business processing activities, according to a new survey.
Quarterly earnings from IT majors Tata Consultancy Services (TCS), Infosys, macroeconomic data announcements, global trends and trading activity of foreign investors would guide the movement in the equity market this week, analysts said. Movement of global oil benchmark Brent crude and the rupee will also influence trading in the markets. "All eyes will be on the beginning of corporate performance for the second quarter of the current fiscal year. TCS is slated to unveil its Q2 results on October 11, with HCL Technologies and Infosys following suit on October 12.
US-based chipmaker Micron Technology is expecting demand for semiconductors to rise significantly in the next few years, globally and in India, as memory consumption is going up, largely driven by the widespread adoption of technologies like artificial intelligence (AI). "Memory consumption is expected to double by the end of the decade and the biggest driver in this is AI. "While it's natural to talk about compute and GPUs (graphics processing units) in the context of AI, it is not to be forgotten that the true enabler for AI is memory ... in all the AI engines that we talk about, there is a lot of need to access memory quickly," Anand Ramamoorthy, managing director, Micron Technology India, told Business Standard.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The explosive rate of growth in India has created a phenomenal demand for talent leading to higher salaries. Salaries are forecast to rise by 14.4 per cent during the year 2008, says a latest report.The high level of demand for experienced employees is driving wage inflation and creating a culture of job-hopping.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
With wage gap between UAE and Indian salaries on a decline, the businesses in the Emirates may have to pay more to Indian workers here to prevent them from opting for opportunities back home.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
India, which constituted over 13 per cent of Accenture's global headcount of 115,000, is its second largest geography in terms of the number of people employed after the United States.
rediffGURU Ashwini Dasgupta offers advice on what you can do to grow in your career and shine at the workplace.
Severe heatwaves, responsible for thousands of deaths across India over the last few decades, are increasing with alarming frequency and soon the country could become one of the first places in the world to experience heatwaves that break the human survivability limit, according to a new report.
Test cricket remains the pinnacle of the game, Cricket South Africa (CSA) said after it was criticised for selecting a second-string squad featuring seven debutants for the country's two fixtures in New Zealand next month.
rediffGURU Chocko Valliappa offers advice on how to upskill yourself to advance in your career.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
From the Sensex pack, Tata Motors, HCL Technologies, Power Grid, Tech Mahindra, NTPC, Axis Bank, Kotak Mahindra Bank, Larsen & Toubro, Wipro, Nestle, Tata Consultancy Services and Infosys were among the major gainers. Bajaj Finance, Bajaj Finserv, Mahindra & Mahindra, UltraTech Cement, IndusInd Bank and State Bank of India were the major laggards.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Consumer anxiety is at the highest levels since the outbreak of coronavirus pandemic in India with the less affluent most skeptical about economic outlook while a majority of consumers think their income in the next six months will be lower than the pre-COVID levels, says a latest study. As per the COVID-19 consumer sentiment research by global management consulting firm Boston Consulting group (BCG) conducted between May 23 and May 28, 2021, covering around 4,000 respondents across metros, tier I, II, III, IV and rural India, 51 per cent of consumers expected their spends over the next six months to be lower. In the last round of survey conducted from July 20 to August 2, 2020, the figure stood at 40 per cent.
"Humble", "kind", and "spiritual" are some adjectives used to describe K Krithivasan, chief executive officer designate and global head of banking, financial services, and insurance business, Tata Consultancy Services (TCS), where he is an old stager. Krithivasan, based out of Chennai, has been part of the global technology sector for over 34 years. He joined TCS in 1989. During his long tenure at the company, he has held leadership roles in delivery, customer relationship management, large programme management, and sales.
White-collar hiring witnessed an 8.6 per cent annual decline in September, following a negative trend in sectors including IT, BPO or ITES and FMCG, a report said on Monday. On a month-on-month basis, however, there has been a growth of almost 6 per cent in job postings. In September, there were 2,835 white-collar job postings, down by 8.6 per cent compared to the same month last year when 3,103 jobs were posted, according to Naukri.com's monthly 'Naukri JobSpeak Index'.
'AI is not a new thing for us. We started our AI journey in 2015.'
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