Polarisation and the increase in index weight of a few a stocks have weighed on performance. The worst performers include Nippon India Large Cap and HDFC Top 100 (2.6 per cent).
The record in net addition from the top four was in 2016-17, of 59,427 employees.
Tier-II and tier-III towns have a reason to rejoice.
In dollar terms, its m-cap rose to $76 billion
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
The net worth of India's richest man, Mukesh Ambani, dropped 28 per cent, or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday. The chairman and managing director of the diversified Reliance Industries saw his wealth decline by USD 19 billion (app Rs 144,400 crores) in the February-March period, taking his global ranking down eight places to 17th, the Hurun Global Rich List said.
After last year's lull, number of offers jump by 15%.
TCS, Infosys do well but Wipro & HCL disappoint analysts; however, outlook for FY17 bullish in general.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
At times of slow growth, India has seen number of graduates doubling since 2008 to almost 25 million in 2016
After another profitable quarter, Anil Chanana, chief financial officer, HCL Technologies, tells Karan Choudhury that customer confidence is at an all-time high.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
In dollar terms, TCS' market valuation rose to $84 billion.
Infosys announced acquisition of digital commerce company Kallidus for $120 million.
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
Experts are of the opinion that though digital services hold the future, the companies are likely to take a hit during the transition period.
Such businesses outperform non-family firms by 3% in first six months of CY20, says Credit Suisse report.
The move comes at a time when the traditional software maintenance and support works, once the bread and butter for export-driven IT services business, are slowly drying up.
'If the business doesn't recover in next 6-10 months, there might be situation where there would be some lay-offs...That may be required for survival and to ensure livelihood to millions of people.'
Infosys, Wipro may follow suit as investors eye a piece of the large cash kitty as growth slows.
Appreciating rupee against the dollar and fresh buying by domestic institutional investors added to the momentum
'It is not that the H1B visa employees are coming in to displace jobs.'
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
India's top IT companies have shown a hiatus between their performance on the bourses in the pandemic period and earnings growth. The combined market cap of the top five IT companies - Tata Consultancy Services, Infosys, Wipro, HCL Technologies, and Tech Mahindra - is up 87 per cent since the end of March 2020. In comparison, the benchmark BSE Sensex is up 68 per cent during the period. So the industry beat the broader market by a big margin in the last one year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Investors seem to be shying away from stocks of companies in the 'digital' space with most counters that comprise the Nifty India Digital index giving negative returns over the past year. The index tracks the performance of a portfolio of stocks that broadly represent the 'digital theme' within basic industries, such as software, e-commerce, IT-enabled services, industrial electronics, and telecom services. The fall in some of these stocks over the past year has been steep; the sharpest decline of around 60 per cent was seen in shares of PB Fintech (parent company of Policybazaar).
'At the heart of the strategic relationship between our countries are economic ties.'
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
Sixteen major contracts worth nearly $14 billion to be renewed by June 2018 but uncertainty looms large.
Delays in promised service delivery were earlier settled between client and service provider. More organisations now opt for a legal settlement to save cost and protect investor sentiment, say analysts.
Three stockmarket experts give their best picks for the New Year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Leveraging next generation technologies like artificial intelligence, software services major Infosys is confident of returning to industry-leading growth and regaining its position as the bellwether of the over $100 billion Indian IT industry.
'The key is to keep the growth sustainable over a period of time.'
The share buyback -- which will be the first in the company's 36-year history -- has been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to its shareholders.
When it comes to rewarding top- performing employees, many large corporates are giving out expensive gifts such as latest iPhones, Mercs, flats and jewellery
Most large companies have curbed their hiring plans in 2018-19 because they continue to invest in digital technologies.
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