IT major Tata Consultancy Services (TCS) has made changes to its leadership roles in North America. As part of the changes Suresh Muthuswami has been elevated to the role of chairman, North America, said sources in the know. This is one of the most significant leadership changes the company has announced for the region. The reason for the changes in the North American region, the largest in terms of revenue for TCS, is because Surya Kant who has been at the helm of North America for the past 16 years is stepping down by the end of the fiscal year, as he retires.
Denied entry into a restaurant on the basis of his skin colour recently, former Grand Prix driver-turned TV expert Karun Chandhok says more awareness needs to be created against racism through Formula 1 though it has already taken "impressive" steps to address the issue.
In a country like India, where counterfeit items are sold in every nook and corner, the regulation of trademark infringement poses a big challenge.
Moody's Investors Service on Thursday slashed India's economic growth projection to 8.8 per cent for 2022 from 9.1 per cent earlier, citing high inflation. In its update to Global Macro Outlook 2022-23, Moody's said high-frequency data suggests that the growth momentum from December quarter 2021 carried through into the first four months this year. However, the rise in crude oil, food and fertilizer prices will weigh on household finances and spending in the months ahead.
Indians spent more on foreign investments during the past 12 months than they have since at least 2012.
Gautambhai has shown that he has ability to withstand payment delays or vexatious court cases. That is where he is on a more comfortable wicket than many others. A revealing excerpt from R N Bhaskar's Gautam Adani: Reimagining Business in India and the World.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.
'The prospects for both India and the global economy is that we are headed towards a very difficult time.' 'I see very uncertain at least 8-10 months for both India and the rest of the world.'
Though India's airlines are certainly bleeding, they haven't yet faced the ignominy of shutting down.
Indian startups have raised $42 billion in 2021, up from $11.5 billion in the previous year, a report by Orios Venture Partners said. The report titled 'The Indian Tech Unicorn Report 2021' said India saw 46 unicorns (companies with $1 billion valuations) in 2021 alone, more than doubling the total number of unicorns to 90. These include ShareChat, Cred, Meesho, Nazara, Moglix, MPL, Grofers (now Blinkit), upGrad, Mamaearth, GlobalBees, Acko, Spinny and others. India - with 90 unicorns - is the third-largest unicorn hub behind the US (487) and China (301), and ahead of the UK (39).
HDFC MF has had a history of stock options and gave additional ESOPs to key staff a few months ago
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
BSE-listed companies' market capitalisation reached Rs 197.7 trillion on January 21, against India's nominal GDP of Rs 190 trillion during 12 months ended December 2020.
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India is estimated to have 302 million Internet users by December 2014, overtaking the US as the world's second largest online userbase.
Moody's Investors Service on Monday said it has assigned a first-time B3 corporate family rating (CFR) to ANI Technologies, which operates ride hailing service Ola. Moody's CFRs are opinions of a corporate family's ability to honour all of its financial obligations. It has also assigned a B3 rating to the company's proposed senior secured term loan.
'If people show laxity by not wearing masks or wearing it inappropriately or violate social distancing norms, and if law enforcement agencies do not penalise and ensure violations do not increase in quantum, then we are certainly in for a trouble. And, the next wave could be worse than the second wave situation'
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance. On the other hand, Bajaj Auto, Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the gainers.
A day after joining the OECD-G20 framework for global minimum tax, the finance ministry on Friday said some significant issues including share of profit allocation and scope of subject to tax rules are yet to be addressed and a 'consensus agreement' is expected by October after working out the technical details of the proposal. Total 130 countries on Thursday agreed to a overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15 per cent rate. India is in favour of a consensus solution which is simple to implement and simple to comply.
The British government has turned down India's request for the extradition of Tiger Hanif, an alleged aide of underworld don Dawood Ibrahim wanted in India in connection with two bomb blasts in Surat in 1993, the UK home office has confirmed.
MotherCare, the baby and maternity clothes retailer that annually sourced garments worth Rs 100 crore from a single exporter in Tirupur, filed for bankruptcy in the UK and will close all its 79 shops in that country. It was the latest world-famous brand to pull down Tirupur's fortunes.
Optimism about a stable govt at the Centre, a demand revival and falling oil prices buoyed the markets.
Nirmalya Kumar, Professor at the London Business School, has been honoured with a fellowship by a leading academic institution here for his contribution to Indian art.
Tourist arrival growth down to 1.9% over poor marketing and terror threats. Airlines, too, have been forced to reroute following airspace closure. UK and Australia advised their citizens from travelling to Srinagar following the Pulwama attack.
'WHO issued an emergency use listing for Covovax, expanding the basket of WHO-validated vaccines against COVID-19. The vaccine is produced by the Serum Institute of India under licence from Novavax,' the world health body said in a tweet on Friday.
The country's largest stock bourse NSE on Friday said it stuck to the primary site for carrying out trading on Wednesday and did not switch to the disaster recovery site after a considered view while dealing with telecom connectivity issues which led to the nearly four-hour halt in trading earlier this week. It can be noted that Sebi had asked the exchange, which also trades the highest derivative volumes in the world, as to why it did not switch to the Disaster Recovery (DR) site. "Post shut down of trading on NSE, we considered all the available alternatives on hand including invocation of DR to decide on the course of action that would bring up the market at the earliest with least disruption to market participants and post evaluation, a decision was taken to bring up the systems at the primary site," a statement from NSE said.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
'Institutional ownership, by December 2018, had increased 37.5% from approximately 22% in early 2009,' points out Amit Tandon.
But no extra risk after second dose, shows study led and funded by drug maker, reports Sohini Das.
An average Indian spends no more than Rs 1.3 lakh per year, according to official statistics. This is close to what an average Indian earns annually. At this level of per capita income today, one litre of petrol costs one-third of an average Indian's daily income (Delhi prices), making it highly unaffordable. People in most other Asian and emerging countries find it more affordable.
Market breadth on the BSE ended firm as 1,908 shares advanced and 1,156 shares declined
'According to CMIE data, employment in manufacturing saw a reduction from 51 million in the country in 2016 to 27 million in 2021. 'That is, it has halved in just 5 years. 'At the same time, the national lockdown resulted in reverse migration to rural areas, and an increase in the number of workers in agriculture. 'It also means joblessness has increased in agriculture because there are too many workers; the number of workers went up from 200 million to 232 million.'
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
the broader NSE Nifty settled 114.90 points, or 0.96 per cent, higher at 12,086.70. Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent. Bharti Airtel slipped 1.98 per cent, Kotak Bank 1.38 per cent, Bajaj Auto 0.88 per cent, Asian Paints 0.31 per cent, HDFC Bank 0.05 per cent and HUL 0.03 per cent.
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Benchmark share indices ended lower on profit taking after they touched record highs in the previous session.
Sensex, Nifty end the day in red ahaead of F&O expiry.
'There is a weak link between the economy and the stock market.'
The car was expected to have a price tag of Rs 10 lakh and launch was slated for this June.
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
In New Delhi's corridors of power, debate continues on whether the navy even needs a third aircraft carrier.
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