BUSINESS LINKED VARIABLE PAY
Summers are over. Should a tactical trade turn into a long-term investment? 5 AC & white goods stocks which surged with the rising temperature
There are many sectors which make it to headlines at a particular time of the year. Like we would see agriculture and irrigation stock coming to headline around budget time, hotel stocks during holiday season. So, while they are cyclical stocks, because their cycles are much shorter as compared to typical cyclical stocks like metals, where cycles may last for many years, they are not typically classified as cyclical stocks. But essentially they are and cyclical stocks are more tactical trade rather than long term investment, which you can buy and forget for years. There is another set of companies who also make it to the headline and probably to the list of top gainers around the same time every year. Companies whose fortunes are linked with what happens in the summer season. This time again it happened, right from AC makers to fan makers to an ice cream company. All have witnessed an upward movement. Should be kept for it is time to say goodbye till next season.
IRDAI bars insurers from advertising unit-linked policies as investment products, issues advertising rules
The Insurance Regulatory and Development Authority of India (IRDAI) has bared insurance companies from advertising Unit linked and or index linked products as investment products. In a master circular dated June 19, 2024 IRDAI issued this direction to all insurance companies. Read here to know more about what else IRDAI said.
Small cap stock but business opportunity is big: 5 stocks from different sectors with an upside potential of up to 48 %
As nifty touches a new all time high, the desire to look at one's portfolio and see whether it has touched a new high. There is a high probability that if one had a higher exposure to small cap stocks the value of one's portfolio might not have touched a new high. The reason, a large part of the small cap market is in a consolidation mode. This is once again a reminder of the fact that there are phases where small caps will not perform and investing in small caps should be delinked from what is happening in nifty. So, if one is looking for small cap stocks, look at individual basis, which industry they are operating, is the industry size is large and is going to grow, only when Industry has tailwind of growth these players are going to see a growth and when the growth is more than ordinary it is than there is possibility of outsized gains.
Good chance to generate a lot of alpha in this stock-pickers market: Samit Vartak
I am sure there will be few winners but those will be extremely handful but the entire segment going up I am not sure if most of them are going to be anywhere close to these kind of valuations when the correction comes in and 80-90% correction is a huge correction, I mean jumping from 90% correction is like 10x returns that you need to generate to just recover the kind of losses.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed them.
UPI boosts RuPay market share; cost pressure for gaming firms
Happy Thursday! The integration of UPI with RuPay credit cards has pushed up new issuances but transaction growth hasn’t kept up. This and more in today's ETtech Morning Dispatch.
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Wipro gives over 85% variable pay for Q4 FY24
IT services major Wipro paid its employees an average of more than 85% variable pay for the fourth quarter of FY24, several employees have told ET, on condition of anonymity.
How I finally entered a $5 trillion money-making venture
Indrajit hazra talks about how an Allahabad Bank account-holding man-child, at last, felt plugged into the Phiroze Jeejeebhoy Towers on Dalal Street,
SBI changes gears, links car dealer commissions to their performance
State Bank of India (SBI), the country's largest lender, is set to link the commission it pays to car dealers for sourcing loans to sales, aiming to reduce costs and improve profitability. The revised payout structure will be applicable for all sourcing from June 1. Under the existing structure, dealers would earn a flat 2% commission for loan disbursals ranging from ₹50 lakh to ₹15 crore.
New RuPay payment mechanism using NFC: Know who will benefit from it and who may not need it
NFC sticker powered by RuPay: A silicon sticker powered by RuPay using near field communication (NFC) technology is set to be launched. This sticker can be fixed on any solid surface and requires no internet or power and is also waterproof. You can use this NFC sticker for payments at any NCMC enabled terminals in Assam ASTC, Delhi metro, Mumbai BEST, etc.
Inspiring! This IIT Kanpur graduate left a high-paying job to become a fitness trainer
Gupta, a graduate of the esteemed Indian Institute Of Technology Kanpur, surprised the world with a daring career transition—she departed from her position at a major multinational corporation to pursue her passion for becoming a fitness coach. Her LinkedIn post garnered widespread attention as she discussed the challenging decision she made and her determination to persevere, even after facing setbacks with her initial startup venture.
Wipro’s Rishad Premji takes pay cut, ex CEO Delaporte takes home $20 mn
Wipro executive chairman Rishad Premji declined variable pay for the second consecutive year due to negative profit growth. He took a 20% pay cut, earning $769,456 in FY24. Former CEO Thierry Delaporte became the highest-paid IT sector CEO with $20.11 million in compensation for FY24, including a $11 million separation payment upon resignation.
Online platforms take to gamification to boost user engagement
For instance, Linkedin says 72% of its surveyed users said playing games such as Pinpoint, Crossclimb, Queens etc. Zomato on the other hand seems to have perfected the art of customer conversions with its Zomato Premier League (ZPL). The gamification strategy is where hyper-casual, tap-and-play games are used to engage customers, speed up sales and enhance revenue.
Google unleashes AI in search, raising hopes for better results and fears about less web traffic
The AI overviews are supposed to only crop up when Google's technology determines they will be the quickest and most effective way to satisfy a user's curiosity — a solution mostly likely to happen with complex subjects or when people are brainstorming, or planning. People will likely still see Google's traditional website links and ads for simple searches for things like a store recommendation or weather forecasts.
Walt Disney incurs $2b+ goodwill impairment charge linked to Star India in 2nd quarter
The US entertainment giant, which has signed a merger deal with Mukesh Ambani's Reliance Industries Limited (RIL), has recorded a $1.3 billion non-cash goodwill impairment charge related to the India merger deal, as per a regulatory filing.
View: The Indian banks' tech you love is a banana peel for RBI battling potential scams
The Indian financial system, recovering from a history of bad loans, faces new challenges as banks grapple with technology pitfalls. Kotak Mahindra Bank Ltd. was recently penalised for security deficiencies, highlighting broader risks of fraud and system vulnerabilities in the digital age. Regulatory scrutiny intensifies amid concerns about financial stability and cybersecurity in the evolving landscape of digitisation.
TCS introduces 60% work from office attendance policy for variable pay allocation; Here's how it works
Tata Consultancy Services (TCS) has introduced a revised variable pay policy that integrates employees' office attendance as a key factor. The policy, effective post the company's quarterly results, establishes four attendance slabs dictating the variable pay for employees. Employees working from the office for less than 60% of the time will not receive any variable pay for the quarter, while those with office attendance between 60-75% will receive 50% of the variable pay. Employees attending the office 75-85% of the time will be eligible for 75% of the variable pay, and those with office compliance levels above 85% will receive the full variable pay.
Will be focusing on top line as well as VNB growth: Vibha Padalkar, HDFC Life
What we will have is, again, a balanced product mix. Unit link will stay range bound around this, either between a fourth to a third of our business.
RuPay credit cards of HDFC Bank, Axis Bank, IDFC FIRST Bank, SBI Card: Cashback, annual fee, discounts
The RuPay credit card was launched in 2017 and these enable secured payments for purchasing goods and services at merchant locations in India as well as abroad. Given below are the top credit cards available on the Rupay network chosen basis the overall value back they offer in their respective spending category.
India Inc CXOs’ pay packets are getting fatter
CEO compensation in India Inc is on the rise, with median pay reaching Rs 9.3 crore in FY24. The average CEO compensation has surged to Rs 13.8 crore, up 40% from previous levels. About three out of every four CEOs in India now earn more than Rs 5 crore, the survey has found. CEOs earning more than Rs 20 crore in target total compensation has doubled over the last four years. Every second CEO had a target compensation of more than Rs 10 crore in FY24, compared with every third CEO in FY20.
Top banks' co-branded credit cards: Cashback offers, fuel surcharge waiver, discounts, freebies, annual fee
Top co-branded credit cards: Banks and other credit card issuers offer credit cards in collaboration with popular brands across different segments. Let us look at the top banks' co-branded credit cards across different spending categories such as shopping, dining, travel, movies, fuel and more.
Flipkart tweaks merit approach, converts hikes into payouts
Flipkart changes increment policy, offering merit-linked payouts and 100% bonuses to employees. Lump sum payments replace salary hikes. Last year, Flipkart had frozen hikes of 30% staff including senior leadership among tough macroeconomic conditions. In January 2023, ET had reported that Flipkart has begun a workforce reduction exercise that could see its total team size decrease by 5-7% and be completed by March-April as part of performance reviews.
Now, TCS employees have to do this to get next promotion & variable pay
TCS has implemented a return-to-office mandate, linking hikes and promotions to compliance. Freshers who complete assigned courses will receive digital compensation and higher salaries. Employees are required to work from the office for all five days of the week. TCS has expanded its partnership with Aviva to manage 5.5 million policies.
Fintechs’ lending businesses under stress; banks leverage Bharat Billpay
In a pointer to tough times ahead, fintechs are finding credit lines for small-ticket unsecured loans drying up following a recent central bank diktat.
TCS announces 100% variable pay for majority of staff
The variable payout for the remaining employees will be based on their business unit’s performance, said chief human resources officer Milind Lakkad.
Infosys to roll out average 80% variable pay for Q1
This comes as India's second largest IT firm paid 60% variable last quarter on an average. The company has also not rolled out annual hikes for employees for the year FY23. Previous hikes were paid in July 2022.
HCLTech reverts to pre-pandemic policy on bonus pay
HCLTech has updated its performance bonus policy from 100% engagement performance bonus (EPB) to variable pay format.
Infosys to roll out average 60% variable pay for January-March quarter
Infosys has rolled out an average of 60% variable pay for the fourth quarter of 2022-23, which was impacted by a volatile market and uncertainties, documents accessed by ET show.
Infosys to announce 60% average variable pay for its employees soon, say reports
A report said that Infosys will disburse Q4 variable pay along with the May salary to employees. For FY24, Infosys has guided for revenue growth of 4%-7% in constant currency which is below market estimates
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