Dalal Street investors became richer by more than Rs 16.36 lakh crore this year as the equity market scaled new highs despite persistent geopolitical uncertainties and inflation worries. Analysts attributed better macroeconomic fundamentals, the confidence of retail investors and foreign investors investing again in the domestic equities towards the latter half of 2022 as the key factors that led to the outperformance of the Indian market in comparison to many other stock markets worldwide. During the initial part of the year, markets were jolted by the Russia-Ukraine war.
Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw back former founder Ashneer Grover's restricted shares in the firm. The steps have been taken by the company's board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director. IPO-hopeful BharatPe, which allows shop owners to make digital payments through QR codes, has implemented a new code of conduct for senior management and employees and brought in a comprehensive vendor procurement policy to avoid a repeat of alleged lapses that happened when Grover was managing director.
The accelerating pace of digitalisation, fuelled by the COVID-19 pandemic, has led to a record-breaking year for cybercrime with ransomware attacks rising 151 per cent in 2021, and an average of 270 cyberattacks per organisation being faced, a new study showed on Tuesday. The World Economic Forum's 'Global Cybersecurity Outlook 2022', released during its online Davos Agenda summit, further said that each successful cyber breach cost a company $3.6 million (nearly Rs 27 crore) last year, while the average share price of the hacked company underperformed NASDAQ by nearly 3 per cent even six months after the event in case of the breach becoming public. The WEF said the global digital economy surged on the back of the COVID-19 pandemic, but so has cybercrime and nearly 80 per cent of cyber leaders now consider ransomware a 'danger' and 'threat' to public safety.
The Saveetha Institute of Medical and Technical Sciences. The Indian School of Mines, Dhanbad. Vinay Umarji explains why these two universities have made India proud.
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
The latest trigger has been Future group's buyout talk with the retail unit of Andhra Pradesh Chief Minister Chandrababu Naidu's family-owned Heritage Foods
India should have done more to protect jobs during the pandemic, a senior official from a global consultancy firm said on Tuesday. Alok Kshirsagar, a senior partner with McKinsey & Company, said the United Kingdom ran a very effective programme to protect employment through the payroll protection initiative, while the US was also not so effective because they were not well-targeted."I think in India, frankly, we should have done more to protect employment in some way, shape or form," Kshirsagar said while speaking at an event organised by industry lobby grouping CII. It can be noted that unemployment had touched record highs during the pandemic across the organised and unorganised sectors.
If reports that Apple Inc plans to triple its iPhone production in India come true, it is likely to help the country become a supply hub for the American company. There are some 190 Apple suppliers globally, but only 12 have manufacturing facilities in India now. Apple's strategy is to focus on India and a clutch of other countries as it diversifies its supply chain out of China.
The Adani stock price saga will pass into public memory as one of those matters that simply escaped being nailed down, perhaps because too many vested interests were involved, notes Debashis Basu.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
HR Guru Mayank Rautela offers practical advice.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
European football's governing body UEFA has urged FIFA to stop pushing its plan for a two-year World Cup and instead to engage in "genuine consultation" over reform of the international match calendar.
'I think my first obsessive, possessive and only half-requited -- as we would joke -- 'love' was Ivan. I saw him first slouching down the corridor of St Stephen's College nearly 50 years ago and was instantly smitten (as was everyone else around him).'
This comes in the wake of allegations of financial irregularities by the erstwhile management led by Harish Moolchandani.
If you are a budding developer and interested in Web3, chances are that you will be headed to one of India's largest-ever meetings of Web3 developers, being held by Polygon, a Web3 platform. The company's ongoing "Web3: Made in India Tour" is expected to see close to 4,000 developers coming together at the inaugural Polygon Connect event in Bengaluru on December 1. The event highlights the growing dominance of Web3 developers from India, as well as the sector's rising interest to investors, who continue to invest in startups despite a funds crunch.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Employee costs for Indian IT services players have touched an all-time high as salaries soar in their effort to retain talent. Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 12-13 per cent. High potential employees will get increases of 22-23 per cent.
Maharashtra Deputy Chief Minister Ajit Pawar on Thursday said future decisions on COVID-19 SOPs will be taken in consultation with the Union Health Ministry and the state Task Force, amid a difference between the Centre and the state over guidelines for international travellers in the wake of the new variant of SARS-CoV2.
TCS is fastest growing software brand in the world.
The Tata Group has close to 110 companies and Chandrasekaran plans to bring this number down to around five or six.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
News of all that's transpired on and off the football field
Indian drug firms continue to work closely with the FDA, and most have also appointed consultants to help them grasp the regulatory minutiae in the US.
'Funds based on this theme offer socially conscious investors an option to invest in a portfolio that is aligned to their beliefs.'
The latest one being Ken Toombs, global head of consulting at the Bengaluru-based entity.
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes, observes Tamal Bandyopadhyay.
Digital payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600-crore initial public offering (IPO) with the Securities and Exchange Board of India.
The Securities and Exchange Board of India's (Sebi's) board on Wednesday allowed foreign portfolio investors (FPIs) to trade in exchange-traded commodity derivatives. The move, it said, "will enhance liquidity and market depth, as well as promote efficient price discovery." Overseas investors will only be allowed to deal in non-agricultural commodity derivatives and only cash-settled contracts.
Many businesses hire blockchain developers to provide the finest solutions and establish new technologies by utilising their superior expertise.
Accelerating inequality, the market dominance of tech platforms and remote working are likely to be the longest-lasting legacies of the COVID-19 crisis, the WEF said in a report on Monday. Releasing its Chief Economists Outlook report during the online Davos Agenda Summit, the WEF said that beyond managing the pandemic and vaccine rollout, these trends could shape a new era of fiscal, monetary, and competition policy. Deglobalisation is seen as the least likely of the current trends to continue in the longer term; particularly as international coordination is key to resolving global challenges such as vaccine manufacturing and distribution.
When Anand Mahindra becomes non-executive chairman in November, Shah will become the first professional MD and CEO in the history of the Mahindra group to have a complete oversight of and responsibility for the Mahindra group businesses.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
Hindu and Sikh leaders will share stage with Pope Francis during a prayer service in New York
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.
The memoir tells the story of his meteoric rise and equally dramatic fall.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
The navy is pushing hard for IAC-2 to be a 65,000-tonne, flat deck carrier that is designed and built in India, with technical and tactical consultation from the US navy -- the global masters in aircraft carrier operations.
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