By posting revenues of Rs 2,135 crore, the training sector also recorded a significant growth, as demand for training within corporations in India and overseas grew.
'It will dictate the flow of funds into the index. We will maintain caution on mid/smallcaps.'
India's information technology industry on Thursday expressed the hope that the new government at the Centre would continue to support the sunrise sector.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
Bureau has registered just one product so far despite 1,500 applications.
Apple Inc has requested the ministry of electronics and information technology (MeitY) to give it 18 to 24 months' exemption to comply with the European Union (EU) regulation of putting an USB charging port in all its older smartphones, mainly iPhone 13 and iPhone 14, which are assembled, exported and also sold in the domestic market. Apple's stance is different from that of Samsung, which has been pushing for an immediate implementation of the EU regulation. All smartphones by the South Korean giant already comply with the EU rules.
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
'We have to plan for whatever the new normal is.'
With the rush of growth after the pandemic slowing down, many leaders are moving to firms that may be smaller but are growing much faster and have the headroom to grow.
The ongoing Russia-Ukraine conflict has demonstrated the integration of multiple forces in domains of air, land, sea, cyber, information and space, and how they are "united" to achieve the goal, Vice Chief of the Air Staff, Air Marshal A P Singh, said on Friday.
India's import of personal computers, including laptops and tablets, shot up in September by 42 per cent to $715 million, reversing a year-long downward trend after the government announced it would impose import restrictions on such electronic hardware items in August. The rise in such imports were led by the largest source China (33 per cent) and Singapore (188 per cent), according to data released by the commerce department. On August 3, the Centre had announced it was planning to bring seven products in the information technology hardware segment, such as personal computers, micro computers, mainframe computers, super computers, computer systems and data processing units under the 'restricted' label.
The number of frauds in the banking sector during the first half of the current financial year has increased substantially to 14,483 cases, although the amount involved is only 14.9 per cent of the previous year's amount, according to a RBI report. The report on Trend and Progress of Banking in India 2022-23, underlined the need to protect the banking system and the payments system from the risks of fraud and data breaches emanating from cyber threats. As many as 14,483 frauds were reported involving an amount of Rs 2,642 crore in the first half of current financial year, as compared to 5,396 cases (Rs 17,685 crore) in the same period a year ago.
An order, issued last year, makes it mandatory for certain electronic products being sold in the Indian market to comply with BIS specifications
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
'Subject to any worldwide economic collapse.'
Indian software industry is targeting the middle-east market as it seeks to raise the information technology exports from $8 billion last year to $50 billion in 2008.
'Though one cannot paint the entire microcap basket with the same brush, investors need to be careful now as to what they're buying.'
India's IT industry will seek an increase in the number of H1-B (non-immigrant) visas and a mechanism to refund social security taxes paid by Indian professionals in the US, when President George W Bush visits India early next month.
India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
India's financial sector is dominated by large government-owned and private-sector banks.
Attacks on cyber cafes to protest against the controversial content of websites will adversely affect the Information Technology industry, according to an Internet service providers' body.
The news of Dixon Technologies (India)'s tie-up with HP in addition to its existing Lenovo and Acer partnerships has led to a 5 per cent stock uptick since the start of the week. Dixon can target roughly 60 per cent of India's addressable IT hardware market with these contracts. Dixon targets Rs 48,000 crore in revenue from IT hardware under the PLI scheme over the next six years.
The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
India had the advantage in software and China in hardware, Chinese Premier Wen Jiabao said.
Some examples that show we may be call for introspection, says Ajit Balakrishnan.
The Indian Staffing Federation says their demand assumes significance as the formal sector will grow after demonetisation and the segment will play a crucial role in that.
Stocks of smallcap and midcap companies, which had caught the fancy of retail investors, also feature in the portfolio of leading politicians in addition to bluechip stocks.
Palanivel Thiaga Rajan was on Thursday relieved of the finance portfolio by Tamil Nadu Chief Minister M K Stalin.
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
Gaming platforms will also be required to display a warning after a certain time of usage to reduce the risk of addiction.
The Opposition had promised to scrap the Dharavi redevelopment project if it came to power. With the Mahayuti's massive mandate in the Maharashtra assembly election, that prospect has been laid to rest.
'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.'
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
Buying one's dream home requires planning, funds, and these days, putting on an AI-enabled virtual reality (VR) headset. Realtors are increasingly providing customers an immersive experience, courtesy generative artificial intelligence (GenAI), mixed reality, and metaverse. For realty consultancy Anarock group, AI and machine learning (ML) are enabling predictive market analysis, facilitating virtual property tours, and improving property management through predictive maintenance.
Isha Ambani means business. Not only when she is doing business - she leads Reliance Retail - but also when she is not. The latter was unmistakable on Wednesday, during her eight-minute 49-second video address on the occasion of "Girls in Information and Communications Technology (ICT) Day India 2024".
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