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Mid-sized IT firms have stepped up hiring in the current fiscal year, adding more than half as many employees in the first quarter of FY19 as compared to the whole of the previous financial year. This momentum is likely to continue for the rest of 2018-19 (FY19) as well.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Tata Consultancy Services (TCS), HCL Technologies and HDFC Bank are among the 50 best public companies in Asia-Pacific according to a compilation by Forbes, which ranked India second behind China as home to the "world's next growth engines".
The company's decision comes when there has been a dip in intake due to tepid demand, increasing automation, reports Debashis Mohapatra.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
The total market valuation of the BSE-listed companies is nearing the Rs 100 lakh crore-mark following the continued dream run of the bourse.
Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
Feel they can't run companies anymore but can be there as guides
The company is looking at building the 'bench' of employees in reserve, to be prepared for emerging demands, beside keeping staff attrition in control. Maintaining decent bench strength would help in implementing new projects.
In 2010, TCS's brand value was $2.3 billion.
Leading computer makers, including Lenovo and HP, are set to hike prices of their products by up to 10 per cent in coming weeks, hit by increasing input costs due to rupee's southward journey.
The market breadth, indicating the overall health of the market turned negative from positive
The broader markets ended negatively with mid-caps and small-caps shedding 0.5 per cent on the BSE.
The fall in metal and mining stocks comes on the back of weak Chinese trade data
His compensation in FY17 was more than the combined salaries of the entire boards of TCS, Wipro and Infosys. 'I am a self-made man from a very modest background,' Tech Mahindra's CEO C P Gurnani tells Shyamal Majumdar.
Creating history, leading exchange BSE on Wednesday peaked above Rs 100-trillion mark to scale a new record in terms of market wealth of all listed firms.
Goldman Sachs forecasts real GDP growth to accelerate to 7.9 per cent in FY17 from a projected 7.5 per cent in FY16.
Markets ended weak tracking the expiry of April derivative contracts.
The 30-share Sensex provisionally ended up 112 points at 28,555 and the 50-share Nifty closed 24 points higher at 8,561 after hitting a record high of 8,626.95.
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
The 30-share Sensex ended down 339 points at 28,119 and the 50-share Nifty closed 100 points lower at 8,438.
Markets end almost flat, bluechips in focus.
HCL Technologies and Infosys should benefit more than TCS and Wipro
Dream rally: Investors' wealth doubled in 5 years in India's equity market on Friday.
Nifty snaps 10-day winning streak
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