The loss before tax shot up 262 per cent to Rs 492 crore for the financial year ended March 2016.
In signs of sluggishness in the labour market, hiring activities declined in May as employers remained cautious tracking macro economic conditions.
The demand for professionals working in banking and insurance and production maintenance also saw the maximum dip during October.
Half of the nation's 100 richest saw gains rising a collective 14% to $517.5 billion, says Forbes. Forbes released 2020's top 100 richest Indians on Thursday, which included newcomers, Sanjeev Bikhchandani, co-founder of Info Edge (India), who owns popular job and property websites; siblings Nithin and Nikhil Kamath, co-founders of discount stock brokerage Zerodha Broking, and three specialty chemicals producers - Vinod Saraf, founder of Vinati Organics, Arun Bharat Ram, the patriarch of SRF, and brothers Chandrakant and Rajendra Gogri of Aarti Industries. Other newcomers included Delhi-based brothers Ramesh Kumar and Mukand Lal Dua of Relaxo Footwears, which owns affordable footwear brands; dairyman, R G Chandramogan of Hatsun Agro; Premchand Godha, who chairs IPCA Laboratories, manufacturing formulations, bulk drugs and drug intermediates; G Rajendran, founder of jewellery chain, GRT Jewellers.
Recruitment activity in India is poised to improve this year, driven by sectors such as IT and ITeS, after hiring remaining largely unchanged in December from a month earlier.
Sector-wise, IT and BFSI sectors are expected to witness the maximum number of job creation, followed by manufacturing, pharma and ITES.
Sanjeev Bikhchandani is on the lookout for start-ups which have the potential to become as big as his own venture.
Sector-wise, oil & gas witnessed monthly growth of 30 per cent in hiring while insurance sector registered an increase of 25 per cent compared to September.
Projections suggest online food delivery market should grow to $22 billion by 2025.
The experience of 99labels, a fashion e-retailing site controlled by InfoEdge -- the same company that owns India's largest job search site, Naukri.com -- is key to understanding big changes sweeping the e-commerce sector.
India Inc's hiring activity witnessed a marginal decline in the month of April, owing to the ongoing appraisal season, but overall industries are upbeat about their hiring sentiment and 2011 is expected to be a landmark year for job creation, job portal Naukri.Com says.
Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. The deal comes days after Zomato had raised USD 150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a USD 3 billion valuation.
The latest update is on Zomato's fourth acquisition overseas this year.
Hiring activity particularly in the manufacturing and infrastructure sectors is expected to pick up in the third quarter of this fiscal on the back of the country's economy showing signs of recovery, a top official of online recruitment portal Naukri.com said.
Sanjeev Bikhchandani, Founder & CEO, Info Edge (India), and B S Nagesh, CEO, Shoppers Stop, say hiring is not taking place in companies the way it was happening two to three years earlier.
'My father was asking me what an IPO is. He has no clue and he has never been an investor.' 'My mother, who was the one to ring the bell, has been an investor in Policybazaar for the past 6-7 years and I would say she has made good returns.'
"Gmail users can both search and apply on Naukri but if you are not registered on Naukri with a Gmail id, you can still search for jobs and view job descriptions, but can't apply," said Vibhore Sharma, senior vice-president, Product and Technology, Info Edge (India). The user may note the jobs he wishes to apply to and can then log on to his Naukri account whenever he wants to apply.
The Naukri Job Speak Index -- which tracks monthly hiring activities online -- stood at 1,300 showing a 1 per cent growth in hiring, when compared to October 2013.
Mutual funds bought FMCG, construction, auto, and IT stocks in November.
Just about 54 per cent of employers predict fresh job creation in the second half of this year whereas the same sentiment was shared by 68 per cent entities at the start of 2013, while salary hikes too are expected to be on the lower side, said the survey.
According to the report, Naukri Job Speak Index stood at 1,600 for May 2014, a stable hiring scenario compared to the previous month.
India's consumer digital economy which was pegged at $85-90 billion in calendar year 2020, is expected to become a $800 billion market by 2030, according to reports released by consulting firm RedSeer at its flagship event Ground Zero 5.0. The digital economy includes 60 per cent of travel, 40 per cent non-grocery retail, 30 per cent of education, 25 per cent of food and beverages services and 6 per cent of pharma/grocery going through digital channels by calendar year 2030. Online retail is set to become the third-largest market by scale by CY30 with an annual gross merchandise value (GMV) of $350 billion in CY30, said RedSeer.
The initial public offer of Info Edge (India) Ltd, owner of job portal Naukri.com, has received an enthusiastic response from investors with the issue getting subscribed by more than five times on the second day itself.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
"I must be the most risk averse person I have met. I am really scared of risks. The point is to keep de-risking at every opportunity," says Sanjeev Bikhchandani, CEO, Naukri.com.
The markets opened in the positive terrain on the back of positive Asian cues
Sanjeev Bikhchandani can smile now. First, the IPO of Info Edge, the promoter of jobs portal ww.naukri.com, was subscribed 54.77 times.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
After a recent spate of big-bang funding of food discovery and delivery apps, experts believe the sector's consolidation might be over and the remaining players are here to stay and thrive.
Ramping up globally, the Indian restaurant search service is going as local as possible in its markets to improve its brand's stickiness.
Education technology, grocery, fashion, food delivery and UPI payments surpassed volumes or revenues of February, in the September-October period.
Apart from the telecom and BPO sector, IT and banking sector and auto and pharma experienced significant year-on-year growth during August.
The Naukri Job Speak Index for last month stood at 1,649, up 20 per cent compared to July 2013.
'To all the MBAs that burn the candle at both ends, travel half-a-million miles every year, and spend little or no quality time with their families, the rise to riches of Mr Bikhchandani and Mr Banga, should be true inspiration,' notes Sandeep Goyal.
The Naukri Job Speak Index for March stood at 1,475, showing stability in hiring activity, when compared to the previous month.
Sectorwise, oil & gas and BFSI (banking, financial services and insurance) witnessed the maximum year-on-year growths of 27 per cent and 17 per cent in December 2014.
India needs a 1,000 more Ashoka universities, Naukri.com Founder Sanjeev Bikhchandani tells Anjuli Bhargava.
Swiggy is shoring up capital to defend its position as India's largest food-ordering app as rivals Zomato and FoodPanda focus on growth after receiving funds
Last year, Zomato was in the news for reportedly dismissing 250-300 employees.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy. Here are his replies to some of the 'buy, sell, hold, avoid or exit?' e-mails that we have received.
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