The selloff in domestic information technology stocks intensified on Friday, with the Nifty IT index sliding as much as 5.2 per cent during the session before paring losses to close 1.44 per cent lower.
'China continues to perceive its relations with India through the prism of India-US relations, with the US using India to counter balance against China in the Indo-Pacific and beyond.'
From the Sensex pack, Zomato, IndusInd Bank, NTPC, Infosys, HCL Technologies, Titan, Power Grid, Hindustan Unilever, Tech Mahindra and ITC were among the gainers. On the other hand, Reliance Industries, Nestle India, Tata Motors, Adani Ports, Tata Steel, UltraTech Cement and Kotak Mahindra Bank were the laggards.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
The five year engagement will cover services such as maintenance and operations of the web infrastructure, content management, SAP Basis operations, IT for IT (the company's internal IT system) and the business intelligence systems of BMW Group, the city-headquartered IT major said.
World Championships silver medallist Amit Panghal qualified for the Paris Olympic after defeating China's Chuang Liu in the 51kg quarter-finals of the second World Qualification Tournament in Bangkok on Sunday.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Less than 4 days after announcing Rs 609 crore aid for cane growers of states having a state advised price regime, the Centre on Monday decided to come out with a comprehensive package which will include the non-SAP states as well.
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.
Infosys on Tuesday said it has formed a long-term partnership with Daimler AG for a technology-driven IT infrastructure transformation. After the receipt of all regulatory approvals, Daimler AG will transform its IT operating model and infrastructure landscape across workplace services, service desk, data centre, networks and SAP Basis together with Infosys, a statement said. "As a part of this partnership, automotive IT infrastructure experts based out of Germany, wider Europe, the US and the APAC region will transition from Daimler AG to Infosys," it added. The companies, however, did not disclose the number of people who will transition as part of the deal.
The last few years have been uncharacteristically good for the Indian sugar sector for a variety of reasons. While on the one hand, the weather supported good crop production; on the other hand, the programme to blend ethanol with petrol took off in a big way. The long-pending problem of burgeoning sugarcane arrears almost came down to nil and exports boomed to record highs.
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
Select the exact category by matching your investment horizon to the portfolio duration, suggests Sanjay Kumar Singh.
The rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite. Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
Fitch Solutions sees RBI keeping benchmark interest rates unchanged during the fiscal to March 2022 following its decision to buy Rs 1 lakh crore of government bonds. "We had initially expected another policy rate cut to arrest the rise in government bond yields since the Union Budget announcement in February. "However, having an explicit bond purchase guidance from the RBI following the announcement of the G-SAP will also achieve a similar effect, if not even be more effective than a rate cut on capping the increase in bond yields," it said in a note. The Reserve Bank of India (RBI) held its policy repurchase (repo) rate unchanged at 4 per cent at its monetary policy meeting on April 7.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Observing that there is liquidity overhand of Rs 13 lakh crore in the system, RBI Governor Shaktikanta Das said on Friday that the exceptional measures undertaken during pandemic will be dealt in sync with macroeconomic developments to preserve financial stability. Since the onset of the pandemic, the Reserve Bank has maintained ample surplus liquidity to support a speedy and durable economic recovery, he said while announcing the outcome of the Monetary Policy Committee (MPC) meeting. The level of surplus liquidity in the banking system increased further during September 2021, with absorption under fixed rate reverse repo, variable rate reverse repo (VRRR) of 14 days and fine-tuning operations under the liquidity adjustment facility (LAF) averaging Rs 9 lakh crore per day as against Rs 7 lakh crore during June to August 2021, he said.
Experts disagree with the idea and the Reserve Bank of India (RBI), which has the sole right to print money, is not comfortable with it as well.
The CVC had asked the CBI to probe the 'irregularities in the tendering process and award of contract and undue benefit caused to the SAP/IBM'.
Concerned over inflationary pressures in the economy, the Reserve Bank of India (RBI) is bringing down surplus liquidity in the system rapidly. It has fallen to pre-Covid levels and almost 2 per cent of banks' net demand and time liabilities (NDTL). NDTL shows the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the deposits in the form of assets held by the other bank.
Nitin Tyagi is a young farmer in Budhagaon village of Baghpat district of Uttar Pradesh. A few years ago, Tyagi left his fairly lucrative job in the medical industry and shifted base to his ancestral village to look after his land and property. He opened a small shop selling farm inputs in the village and also started taking a greater interest in agricultural matters which had so far been looked after by his father and uncles. Tyagi and his brothers primarily grow sugarcane, potato and wheat on nearly 10 acres of land with sugarcane taking up most of his time and effort. Being one of the most important and lucrative cash crops of the region, sugarcane is directly linked to the fate of millions of farmers in west UP and with it, the electoral fortunes of political parties seeking their votes in the coming assembly polls.
Tech Mahindra was the top loser in the Sensex pack, shedding over 3 per cent, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries. NSE Nifty fell 185.60 points to 17,671.65.
Saturday's 2-1 FA Cup quarter-final defeat at Wolverhampton Wanderers followed a 2-0 loss at Arsenal last week.
'Q1 is going to bear the brunt of the second wave, exposing full-year GDP forecasts to downward revisions, unless phase-3 of vaccination is executed quickly.'
Do not consume fresh fruits, date palm and other poorly washed fruits/half consumed fruits, says Dr Dr Usha Manjunath.
Infosys has been struggling to revive high growth for two years.
Budget 2016 may hold some answers to start-up cooncerns.
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
The Reserve Bank of India (RBI) on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
Wipro, has set up a venture capital (VC) fund that will look at investing in early-to-middle stage technology start-ups globally.
I started my journey as the CEO of this iconic company with a mission to transform it on the basis of software, especially (artificial intelligence), and innovation, enabled by education. Three years later, I feel proud of our progress and achievements: Vishal Sikka.
Prime Minister Narendra Modi announced the launch of the new flight at the SAP center cheering up thousands of Indians.
'John Abraham has Popeye's muscles and Bluto's scowl, but how many times can you watch a deadpan Hulk pull out a van door or burst forth from a truck tyre?' asks Sukanya Verma.
Also looks at setting up development and training centres in the US to tide over visa-related issues
N Ganapathy Subramaniam, chief operating officer (COO), discusses the strategy to concert digital opportunities to larger deals, focus on reskilling own people instead of acquiring a company to get access to skillsets and demand from newer verticals in an interview with Romita Majumdar
New initiatives expected to bear fruit by middle of 2015
Why should brides have all the fun? Dr Sirisha Singh of The Skin Center reveals skin-care tips for the groom.
There was an uptick in clients' spends in the digital segment.
China is estimated to grow at 6.7 per cent in 2016.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances