Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firm's profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premji's compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. "Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr Rishad A. Premji," said the company in the filing.
It's not surprising that CEOs in IT companies are among the richest in India Inc.
A plea that the banking regulator's stress should be on the strategic role of boards and an increase in the remuneration of independent directors were among the issues put forward to the Reserve Bank of India's (RBI's) top brass in its interaction with the full boards of state-run banks held on Monday. The meeting, the first leg of first-of-its-kind interactions with the boards of state-run banks, will now be followed by those of private banks in Mumbai on May 29. The RBI's press release, issued late on Monday, did not refer to the specific points that found mention in the deliberations, but top sources told Business Standard the twin concerns were taken up in the open-house interaction with the banking regulator's brass.
PM raised the CEO salary issue couple of years back. RBI and Sebi, too, flagged it recently. Are companies really paying their CEOs more than their counterparts elsewhere?
Apple Inc has announced the India prices of the new variants of its bestselling smartphones - launched on Tuesday - as it assembles the device in the country. The new iPhone 15 range starts at Rs 79,900 for the 128 GB variant (the same price as the iPhone 14 when it was launched last year) and goes up to Rs 199,900 for the top-end Pro Max with a 6.7 inch screen and 1 TB (terabyte) storage. The world's most valuable company also launched three new upgraded Apple watches, starting with the SE at Rs 29,900 and going up to Ultra 2 at Rs 89,900.
United States Secretary of State Hillary Clinton on Saturday asserted that the US was 'entering a new promising era with India'.Clinton also talked about the menace of terrorism. "US will support all efforts by India in its fight against terrorism. We are supportive of any effort the world over to tackle the problem of terrorism," said Clinton.She reiterated, "We are working together to defeat terrorism."
They are both electronic manufacturing services (EMS) companies, also known as contract manufacturers. One is Taiwan's Foxconn group, the undisputed global number one in this business with revenues of $223 billion. The other is Dixon Technologies, the biggest domestic player with revenues of over Rs 10,500 crore.
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
The Congress now knows that it is the only force -- however weakened it might be -- that stands between the BJP and India's evolution into a single-party Republic. Because, once it is out of the way, the BJP could sort out the other regional powers: Co-opting some, demolishing others, asserts Shekhar Gupta.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
India Inc's first quarter scorecard has been mixed so far. While net profit growth has shot up, the 154 companies that have declared their results have faltered on the turnover growth rate.
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
Congress president Mallikarjun Kharge and former party chief Rahul Gandhi, who were present at the meeting, asked party leaders to remain united and connected with the people, sources said.
Only five sectors such as consumer internet companies, professional services, life sciences, automotive and consumer products are projecting double-digit increment.
'India has the potential to reduce its trade deficit with China by $8.4 billion in FY21.'
'Since there is no photo-op, or quick fix solutions, politicians do not want to address climate change. It is very unfashionable.'
The top five India-based IT services providers grew by $4.5 billion in 2010, according to a study by IT consulting major Gartner.
Our caste warriors will not even ask these questions, let alone explore better solutions to address the problems of inequality and skewed life outcomes, argues R Jagannathan.
"Lady candidates need not apply." So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science at the institute, wrote a postcard to JRD Tata, expressing her surprise at this gender discrimination, especially since the Tata Group were pioneers on many fronts. Shortly, Murty became the first woman on the firm's shop floor.
During the September quarter, performance of India Inc is expected to be robust on the sales front.
In Phase 6, indications are that the BJP, which is defending 40 seats, will lose in double digits and gain in single digits. Not good, if you are the ruling party scrambling to earn a working majority, with just one phase left to go, argues Prem Panicker.
Traders' body CAIT on Wednesday wrote to Reliance Industries chief Mukesh Ambani and 50 other captains of India Inc, including Ratan Tata, Azim Premji, Gautam Adani, Ajay Piramal, Anand Mahindra and Sunil Bharti Mittal seeking their support in its campaign to boycott Chinese goods. The Confederation of All India Traders (CAIT) also urged Kumar Mangalam Birla, Vikram Kirloskar, Rahul Bajaj, Shiv Nadar, Pallonji Mistry, Uday Kotak, Nusli Wadia, Shashi Ruia, Madhukar Parekh, Harsh Mariwala, Satish Reddy and Pankaj Patel, among other prominent industrialists, to join its 'Bhartiya Samaan-Humaara Abhimaan' campaign.
Women do not have a proportionate representation in companies, but they are better off than women in other parts of the world when it comes to top positions.
The rise in India Inc's market value was led by asset-light firms.
In a significant move, markets watchdog Sebi on Tuesday decided to implement the requirement to separate the positions of chairperson and managing director at listed companies on a voluntary basis and not make it mandatory for now. The development also comes against the backdrop of Finance Minister Nirmala Sitharaman recently saying the regulator should hear if Indian companies have a view on the matter even as she made it clear that she was not "giving a diktat". The top-500 listed entities were required to split the roles of chairperson and managing director/chief executive officer before the April 2022 deadline.
India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" came to any conclusion on those.
'Most of the bot attacks have originated from outside India.' 'Our firewalls are resilient and withstood the attacks.'
The BJP declared a total income of Rs 1917.12 crore during 2021-22 and spent Rs 854.467 crore or 44.57 per cent of it.
The University of Pennsylvania has emerged as the topmost university in the world, as per Youth Incorporated magazine's Global University rankings.
Even as top Pegatron executives went to the factory near Chennai on Tuesday to make an assessment of the fire damage to decide on a possible date for resuming operations, sources said the impact of the closure will be minimal for Apple's iPhone production. Late in the evening sources said that the factory might be operational soon-but said they are waiting for a final update. It will also not impact the availability of the newly-launched iPhone 15 and iPhone 15 Plus, they said.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
India Inc's debt-to-equity ratio has fallen, from 0.92 in FY15 to 0.88 in FY16.
It's seen as a signal that he wants to engage with India Inc at a time when the economy has started looking up.
Head to these destinations to do the cheesiest things with your partner.
Top HR minds in India, including Santrupt Misra of Aditya Birla Group, Satish Pradhan of Tata Sons, P Dwarakanath of Max India, Aquil Busrai (ex-IBM India) and Price Augustine of Mahindra & Mahindra and Pankaj Bansal of People Strong were among those who brainstormed with Maruti Suzuki India chief operating officer (administration) S Y Siddiqui last week.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances