After disappointing guidances in the first quarter (Apr-Jun) of the 2023-24 financial year (Q1FY24) and valuation downgrades, the Indian IT sector could see some positive repricing as the bad news for IT maybe easing in Q2FY24. A key negative factor was weaker demand from the US financial sector and from North America in general. The latest GDP (gross domestic product) estimates and sector-specific news suggest that the demand situation may not be quite so bad with a gradual recovery in tech spending in Q2.
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
The Reserve Bank has given time till November 30 to banks and NBFCs to put in place a mechanism to ensure that existing digital loans are in compliance with the modified norms aimed at protecting the interest of customers. Last month, the central bank tightened norms for 'digital lending' to prevent charging of exorbitant interest rates by certain entities and also check unethical loan recovery practices. In a circular, the RBI said outsourcing arrangements entered by Regulated Entities (REs) with a Lending Service Provider (LSP)/ Digital Lending App (DLA) do not diminish the REs' obligations and they shall continue to conform to the extant guidelines on outsourcing.
AirAsia India was set up as a three-way joint venture.
The government is close to approving a proposal by Micron Technology to set up an assembly, testing, marking and packaging (ATMP) facility in the country involving an investment of about $1 billion. The world's fifth largest semiconductor company, based in Idaho, USA, will use the facility to process some of its own wafers, manufactured across the globe.
The Indian office real estate market, which had recovered significantly in early 2022, began to slow down in the latter half due to macroeconomic problems in the developed world. Rental yields are likely to be stable at best in FY24.
The tribal vote in Madhya Pradesh is crucial in any election. The BJP's loss in the 2018 assembly election has prompted it to take remedial action.
Power Minister A K Sharma blamed the 72-hour strike that began at 10 pm on Thursday on some 'irresponsible' leaders of the electricity department and said it was not in the interest of the employees.
What is noticeable in both movies is the willingness with which both the ageing stars -- Kamal is 68 and Rajini, four years older at 72 with a kidney transplant that he has not shied away from acknowledging -- have learnt to respect their age and bodies, notes N Sathiya Moorthy.
"India is the best market right now in the world with the digital initiatives the government has implemented
Balanced advantage funds (BAFs) were popular in the later part of 2021 and continued to see good inflows until some months back as investors looked for safer options amid over-valuation concerns. As such concerns ease, investors are turning to riskier funds and shifting from BAFs. Redemptions from the hybrid fund category have exceeded in six of the last seven months, with investors pulling out a net of Rs 3,140 crore during the seven-month period.
The sharp rally in the markets thus far in fiscal 2023-24 (FY24) has left analysts struggling to find investment-worthy themes. The S&P BSE Sensex has surged nearly 7 per cent thus far in FY24 and hit a fresh 52-week high of 63,601.71 levels on June 22, mostly led by foreign institutional (FII) flows. "The Indian market has seen a broad rally in the past few months but headline indices have seen more modest performance. "We are not very clear about the reasons for the rally and the divergent performance and struggle to find ideas in the consumption, investment and outsourcing sectors after the sharp run-up in several of our favored sectors and stocks in the past two months," wrote Sanjeev Prasad, co-head, Kotak Institutional Equities, in a recent co-authored note with Anindya Bhowmik and Sunita Baldawa.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
Capital markets regulator Sebi on Wednesday came out with a cybersecurity framework for all portfolio managers having an asset base of at least Rs 3,000 crore. The new guidelines will come into force from October 1, 2023, the Securities and Exchange Board of India (Sebi) said in a circular. Under the framework, Sebi asked portfolio managers to report all cyber-attacks and breaches experienced by them within 6 hours of detecting such incidents.
Clearly, Foxconn Chairman Young Liu and his team are looking to raise their game in India.
OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
The Indian government is keen to woo major semiconductor players, but a global race to attract them to countries where there is already an ecosystem is making it difficult for India to attract the biggies in the business. On Wednesday the government decided to throw open the doors to more players to participate in its semiconductor scheme. It is now looking at not only 28 nanometre (nm) chips and below, but higher nodes like 40 nm.
Krithi Krithivasan is the kind of person one might look to when the need is to calm things down and put things back on track.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
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IT market is forecast to grow 2.8 per cent in dollar terms and 5.1 per cent in constant currency from 2012, Gartner said in a statement.
Many companies are putting HR's reputation as a back office administrator to rest by either outsourcing or automating most administrative tasks.
'We had tremendous faith in honorable Modiji in his second term as he was well-settled. Sadly that has been belied.'
Balanced advantage funds have the potential to earn superior risk-adjusted returns for the investor and offer a smoother investment journey.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
Unemployment rate in the country has zoomed to a high of 8.3 per cent in December, the highest in 2022, according to data from Centre for Monitoring Indian Economy (CMIE). The unemployment rate during November was at 8 per cent, while in September it was the lowest at 6.43 per cent and was at the second highest level during the year at 8.28 per cent in August, the CMIE data stated. While the urban unemployment rate was at 10 per cent during the last month of 2022, rural joblessness stood at 7.5 per cent during December.
Keshav Murugesh, CEO of the Nasdaq-listed WNS, discusses the impact of the Trump administration on BPO and BPM industry with Ayan Pramanik.
According to various global media reports, China is creating Covid-like pathogens in Pakistan that have the potential of causing virus contamination on a scale far higher than Covid.
In a report tabled in Parliament recently, it said several complaints are being disposed of by the Lokpal on the ground that they are not in the prescribed format and asked it not to reject genuine complaints.
Food delivery aggregator Swiggy's losses widened 2.24 times to Rs 3,628.9 crore during last financial year, as its expenses surged 227 per cent in a year. This is even as the decacorn's revenue jumped more than twofold to Rs 5,704.9 crore in FY22, according to details from company research platform Tofler. While the company's losses surged from a base of Rs 1,616.9 crore in FY21, its total expense in FY22 touched Rs 9,748.7 crore, from Rs 4,292.8 crore a year ago.
'It's unfortunate that the prime minister prioritises his own image over the humanitarian situation that is unfolding in Manipur, prioritising his ego over the atrocities that women and tribals have had to suffer in Manipur.'
Trump to sign an executive order aimed at achieving a more skills-based and merit-based immigration system.
Consolidated earnings of Bharat Forge in Q3FY23 missed estimates, largely due to higher-than-expected interest burden, although operational numbers (including standalone numbers) were close to consensus. Still, the management guidance was positive and appeared to be based on logic.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
With the objective of curbing paper leaks in government recruitment exams, the Gujarat legislative assembly has unanimously passed a bill that provides for up to 10 years in prison for such malpractices.
How is it that Western society is willing to pay the short-term price for technological progress and we, in India, find it so tough?
Companies are increasingly sending IT work to hubs outside India. They're saving money but facing a whole new raft of challenges.
Political power has now been outsourced fully to the Modi government. Even if the RSS is still, in principle, his guru, nobody would dare to whisper a word of advice to Modi, forget some whiff of criticism. When the shishya grows into such a popular and domineering leader, the guru has to applaud from the sidelines, points out Shekhar Gupta.
Notably, both the meetings were presided over by Prasad's elder son Tej Pratap Yadav, who was sworn in as a minister earlier this week with environment, forestry and climate change portfolio.
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