The Street shrugged off a muted first quarter of financial year 2023-24 (Q1FY24) and a cautious near-term outlook by India's largest information technology (IT) services company, Tata Consultancy Services (TCS). The stock was the top Nifty50 and Sensex gainer on Thursday, rising 2.5 per cent, as investors took comfort from a robust order book and an encouraging pipeline. Like its larger peer, HCL Technologies' (HCL Tech), too fell short of the Street's expectations on the revenue and margin fronts given cuts in discretionary expenditure.
'There is a need for an innovation sandbox where the PSBs can collaborate and then they can do their own innovation on top of it.'
As more than 400 candidates from a single state -- Haryana -- had taken the test, there are suspicions over whether coaching centres may be involved.
Even as the returns of mutual fund (MF) schemes have improved considerably in the past three months, addition of new investors has remained in the slow lane for the MF industry. According to industry data, during the first six months of CY 2023, MFs onboarded only 1.6 million new unique investors, in stark contrast to the 4.7 million investors added during the same period last CY and the 2.4 million in 2021. It is noteworthy, however, that the current additions for this year have doubled in comparison to the figure of 800,000 seen in 2020.
Nifty50's earnings growth, estimated at 20 per cent by global research and brokerage firm Jefferies for financial year 2023-24 (FY24), will be amongst the top three in the Asian region, and is likely to outperform peers. Asean 40 index with 29.1 per cent estimated earnings growth and Straits Times Index (STI) with 29.1 per cent estimated earnings growth are the only two other indices in the Asian region that are likely to outperform India, suggests the recent Jefferies report, coauthored by Mahesh Nandurkar, their managing director along with Abhinav Sinha and Nishant Poddar.
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
It started out as a Production Linked Incentive (PLI) scheme to make India an export hub. But after many a twist and turns, the latest 2.0 PLI for IT hardware, for which the 40 eligible candidates have applied till its deadline, is now focused on 'import substitution'. The scheme will help in reducing India's over-dependence on imports (80 per cent of laptops are imported), especially from China which include laptops, tablets and servers.
The boy is being produced in a juvenile court here and further legal proceedings are being carried out, Verma added.
The government has ordered the blocking of 45 videos from 10 YouTube channels that contained fake news and morphed content with the intent to spread hatred amongst religious communities, Information and Broadcasting Minister Anurag Thakur said on Monday.
The police said they have lodged an FIR and launched an investigation into the matter after a representative of the TV channel, located in Sector 16A Film City, approached them Tuesday evening.
Saha has kept the home, health and family welfare and public works department with him while Ratan Lal Nath has been given the charge of power, agriculture and farmers' welfare, according to an official notification issued by Chief Secretary J K Sinha.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
According to the notification, publishers of online curated content displaying tobacco products or their use will be required to display anti-tobacco health spots each of a minimum of 30 seconds at the beginning and middle of the programme.
JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight (neutral earlier post Q4-FY23 numbers), as it believes the overall demand environment for the sector still remains weak. The research firm expects most companies in the sector to disappoint while announcing their first quarter numbers for the current fiscal (Q1-FY24). Among stocks, it has placed Infosys, TCS, MphasiS in its 'negative catalyst watch'.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Ajit Pawar was seen as an heir-apparent in the NCP, but his dalliances with the Bharatiya Janata Party, including an early morning swearing-in as Maharashtra deputy chief minister along with chief minister Devendra Fadnavis in 2019, had not been received well by the party.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Nandan Nilekani, co-founder and chairman of Infosys and the founding chairman of UIDAI, has donated Rs 315 crore to the Indian Institute of Technology (IIT) Bombay.
Special teams have been formed under the orders of the Director General of Police, Tamil Nadu, C Sylendra Babu to arrest them, they said.
The FIR has been lodged with Amherst police station and a legal notice was sent to director Sanoj Mishra asking him to appear before the investigating officer of the case on May 30, a senior police officer said.
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
Rehana Fathima, a woman's right activist, was facing charges under various provisions of the POCSO, Juvenile Justice and the Information Technology (IT) Acts for circulating a video in which she was seen posing semi-nude for her minor children, allowing them to paint on her body.
According to officials, seven employees of the Yojna Bhawan having access to the basement have been detained for questioning.
The Centre has appointed senior IAS officers Vumlunmang Vualnam and Neeraj Mittal as new secretaries in the ministry of civil aviation and the department of telecommunications respectively in a major secretary-level bureaucratic reshuffle, a government order stated.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
Information technology major Wipro has asked candidates who have successfully completed their training and who were offered Rs 6.5 lakh per annum earlier whether they would be willing to take up projects for an annual compensation of Rs 3.5 lakh. Wipro told Business Standard that it had to adjust its onboarding plans "in the light of the changing macro environment and, as a result, our business needs". "Like others in our industry, we continue to assess global economies and customer needs, which factor in our hiring plans.
The Supreme Court on Tuesday granted anticipatory bail to businessman Raj Kundra and others, including actors Sherlyn Chopra and Poonam Pandey, in connection with an FIR against them for allegedly distributing pornographic videos.
'Maharashtra, Telangana and Karnataka were competing for the Foxconn-Vedanta semiconductor manufacturing plant'
'You may opt for a longer minimum guaranteed tenure of 12-18 months. This will ensure that in a rising rental scenario, the landlord doesn't serve you a notice and ask you to vacate the property.'
The government on Thursday ordered blocking of eight YouTube channels, including one operating from Pakistan, for allegedly spreading disinformation related to India's national security, foreign relations and public order.
The Centre Thursday told the Delhi high court it has set up an appellate mechanism to deal with grievances of the users arising from the decisions of social media platforms.
Gaming platforms will also be required to display a warning after a certain time of usage to reduce the risk of addiction.
The protesting wrestlers also said that they will oppose holding of competitions if Singh is involved in their organisation.
The Supreme Court on Friday extended by two weeks the protection from coercive action it has granted to four members of the Editors Guild of India (EGI) in connection with two first information reports (FIRs) lodged against them in Manipur for allegedly promoting enmity between different groups.
Xi has called on Chinese border troops to enhance their capabilities in border defence and control to forge a "great wall of steel" along the country's borders, it said.
After a sharp outperformance in the mid-and small-cap segments in the first half of calendar year 2023 (H1-CY23), analysts are now turning cautious on these two market segments and suggest investors stay selective and look for valuation comfort and earnings visibility before investing. The S&P BSE Midcap index has surged 13.7 per cent in H1-CY23, and the S&P BSE Small-cap index gained 12.7 per cent during this period, data shows. The S&P BSE Sensex, in comparison, has moved up 6.4 per cent.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
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