Employee costs for Indian IT services players have touched an all-time high as salaries soar in their effort to retain talent. Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 12-13 per cent. High potential employees will get increases of 22-23 per cent.
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
The Street was following the Karnataka election closely as a test for the Modi-led BJP's prospects in the 2019 Lok Sabha poll. Investors, however, are likely to wait for the next round of state elections to judge whether the momentum is still with it.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
HCL Technologies on Monday said its founder Shiv Nadar will take on the role of Chairman Emeritus and Strategic Advisor to the company's board. Nadar, chief strategy officer and managing director of the company, on completing 76 years of age, has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing. "In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, the Board of Directors in its meeting held today, after considering the recommendations of the Nomination & Remuneration Committee, has approved the appointment of Shri Shiv Nadar as the 'Chairman Emeritus and Strategic Advisor to the Board' for a term of five years with effect from July 20, 2021," it added.
The adverse impact on the margins of auto, consumer staples and consumer durables sectors will be counterbalanced by an earnings uptick in the metals, cement and oil & gas sectors.
Waves of foreign portfolio investments worth over Rs 51,000 crore splashed into the Indian market in 2021 as overseas investors turned net buyers of domestic securities for the third straight year while excess global liquidity and other factors steered the ebb and flow of their investing ways. With the global financial system still flush with liquidity, emerging market assets, especially equities, might well remain the preferred investment avenue for many more months to come, experts opined. As the equities sizzled during most of 2021, that also saw economy slowly coming back into the recovery path, Foreign Portfolio Investors (FPIs) turned net buyers but their investment is much less compared to net inflows of Rs 1.03 lakh crore in 2020.
On the Sensex chart, IndusInd Bank was the top gainer, rallying over 11 per cent, followed by ICICI Bank, SBI, HDFC, M&M and Axis Bank. On the other hand, Dr Reddy's, Tech Mahindra and TCS were among the laggards.
ONGC was the top loser in the Sensex pack, shedding 4 per cent, followed by Bharti Airtel, SBI, IndusInd Bank, NTPC, Sun Pharma and ITC. On the other hand, Bajaj Finance, Bajaj Auto, Reliance, Bajaj Finserv and Asian Paints were among the gainers.
An exclusive interview with K Vijayakumar, who led the successful hunt for Veerappan.
Bulls might be on the rampage on Dalal Street but lofty valuations of the Indian equities present a reason for concern and the markets could perhaps witness up to 10 per cent correction, according to analysts. Benchmark indices have been on a record-breaking rally lately and August witnessed the stock market reaching many new highs. The BSE benchmark soared over 9 per cent last month.
TCS is the country's most valued firm with a market capitalisation of Rs 687,123.96 crore
IT services firm HCL Technologies on Friday reported a 16.7 per cent increase in net profit at Rs 2,014 crore for the quarter ended September 2016.
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
'The virus has been ahead of us till now, and we have been chasing the virus.' 'It is time we have to be a step ahead of the virus, and this is possible only by checking the oxygen level.'
Defending the decision to ban Coca Cola and Pepsi, Kerala Law Minister M Vijayakumar on Tuesday said it reflected the LDF government's social commitment and there was no justification to dub it as a move that would discourage investors.
ONGC was the top gainer in the Sensex pack, rallying around 18 per cent, followed by HUL, UltraTech Cement, RIL, TCS, HDFC, ITC and Asian Paints. Only HDFC Bank and IndusInd Bank settled in the red. NSE Nifty zoomed 482 points, or 5.83 per cent, to close at 8,745.45.
Tech giant Google's Developer Group on Wednesday joined hands with Startup Village to launch 'Women Techmakers' (WTM), a global programme and brand for women in technology.
The incident occurred at Kasi theatre in Chennai's Ashok Nagar during the interval at 11:30 am on Sunday.
Tier-II and tier-III towns have a reason to rejoice.
IndusInd Bank was the top gainer in the Sensex pack, rallying up to 46 per cent. Other winners were Bharti Airtel, L&T, Bajaj Finance, Kotak Mahindra, Bajaj Auto, HUL and HDFC -- rising up to 10 per cent. On the other hand, Maruti Suzuki, Tech Mahindra, Sun Pharma and Reliance Industries closed with losses. NSE Nifty finished 323.60 points, or 3.89 per cent, up at 8,641.45.
Kannada actress Rukmini Vijayakumar played superstar Rajinikanth's sister in Kochadaiyaan.
The prime minister said he was expecting members of the House to show enthusiasm by thumping their desks as a large number of those from the Dalits, Scheduled Tribes and OBC communities as well as sons of farmers and those from economically backward and rural backgrounds have become ministers in the recent rejig.
If you'd like to know more about Rajini the actor, Saisuresh Sivaswamy offers a wide selection.
Karthikeyan shares his experience of starting Twenty19, an NGO, Deepam that works for underprivileged children and his passion for marathons.
Roshni, also a trained classical musician, came on the board of HCL Technologies in 2013 and was vice chairperson. Shiv Nadar would continue to be MD of the company with designation as chief strategy officer.
The water stoppage to Tamil Nadu came after Karnataka said it will file a review petition on Tuesday before Cauvery River Authority headed by the Prime Minister who made known his position to Congress and BJP delegations which met him separately seeking review of CRA's September 19 directive.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It will be based in the Silicon Valley and will act as a landing pad for Indian startups looking to enter the crucial US markets.
Prithviraj plays a stunt man while Yami Gautam makes her debut in the Malayalam film.
From the BSE 30-share blue chip pack, 27 scrips ended with losses led by SBI and Tata Steel.
The first batch of police personnel had taken charge of the security on Saturday.
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
A round up of the fourth and final day's action of the Ranji Trophy matches on Sunday.
The company's total income was up 2.2 per cent to Rs 13,480 crore in the quarter under review from Rs 13,183 crore in the corresponding quarter last year
The Special Task Force headed by former Director General of the Central Reserve Police Force K Vijayakumar on Tuesday discussed "division of assets" of the Andhra Pradesh police in the event of the bifurcation of the state on the first day of its three-day tour.
The NSE Nifty settled at 10,234.65, down 225.45 points, or 2.16 per cent.
