HEAD OF GLOBAL BUSINESS IN INDIA
Will mid and specialized IT companies pay more as the sector makes a comeback ? 6 Mid sized IT stocks with upside potential of upto 41%
It was after a long period of time that IT stock made a comeback on Friday as reflected in the top gainers list which was dominated by IT stocks. Now the question is whether it is another false start or the Q1 results from TCS and HCL tech are reflecting the fact that the street has been more pessimistic on the sector than it was required. The answer to this would be clear in another couple of days, but the way they have been performing, there is a higher probability of it being more sustainable this time. The fact is IT companies are one of most researched companies in India. But the focus of that research is largely on TOP 5 five companies. While the fact is that the Indian IT sector is far bigger than just these companies. There are many niche areas where mid and small cap IT companies have been able to make their mark and a distinction needs to be made when looking at the sector and probably because the are not over owned by large institutional investor.
UP gives Maruti a head 'start' in strong hybrids
Maruti Suzuki India saw a nearly 7% surge in its stock price following Uttar Pradesh's decision to waive registration levies on strong hybrid and plug-in vehicles. This move, aimed at promoting greener mobility choices alongside electric cars, is expected to reduce ownership costs by 10%. Maruti, already a leader in the strong hybrid category, stands to benefit significantly. This policy shift reflects a broader trend among states to incentivize alternative technologies like biofuels and hybrids, aiming to make them more attractive and cost-effective compared to traditional petrol vehicles.
What cooked Koo's goose, a case study
Marketing becomes more complicated, as does navigating jurisdictions of countries where English isn't significantly in use. Investors may see these expenses as disadvantageous to a local-language microblogging site when there are immensely dominant mainstream forces at play. Even with the anti-X support Koo enjoyed at home, its global ambitions may have been lofty.
J-K on verge of becoming success story among Indian states: LG Manoj Sinha
Lt Governor Manoj Sinha highlighted Jammu and Kashmir's potential as a key success story in India and a socio-economic global model. Meeting Eliska Zigova, Czech Republic's Ambassador to India, at Raj Bhawan, they discussed investment opportunities in sectors like industries, tourism, start-ups, handloom, handicrafts, food processing, agriculture, and allied areas. Sinha emphasized 'historic and transformative changes' under Prime Minister Narendra Modi's leadership, inviting Czech trade and business leaders to explore these opportunities.
WeWork India appoints Janak Malkani to drive expansion in managed office business
WeWork India has appointed Janak Malkani as the head of managed office and sales for the West region. Malkani's extensive real estate experience will enhance WeWork India's managed office offerings, with a focus on innovative and efficient workspace solutions. WeWork India's flexible workspace market has seen significant growth, with a third of its business driven by the Managed Office portfolio, serving notable enterprise members.
Global Chess League to generate business value of $40 m in 5 years: Tech Mahindra CEO Mohit Joshi
The Global Chess League (GCL), initiated by Mahindra Group chairman Anand Mahindra, is projected to generate over $40 million in business value over five years, according to Tech Mahindra's CEO Mohit Joshi. The league, a joint venture with the International Chess Federation (FIDE), is the world's first franchise-based chess league and targets expansion into the US and Europe alongside India. With six current teams and plans to expand to eight teams from the third season, GCL aims to boost engagement across social media and TV platforms.
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Oyo to use fresh funds for ‘enhanced business plan’ and global push
Oyo's shareholder approval includes issuing Series G CCCPS shares, as per the scrutiniser's report, to raise funds and increase authorized share capital.
Cushman & Wakefield launches advisory platform to help firms set up capability centres
Global property consultant Cushman & Wakefield on Wednesday announced the launch of an integrated advisory platform to help multi-national companies set up Global Capability Centres (GCCs) in India, Philippines and some other countries. At present, there are around 1,600 GCCs operational in India and the number is expected to rise exponentially to more than 2,400 by 2030.
Business families seek legal advice to amend tightly written deeds of family settlement amid global expansion plans
Business families, particularly in India, are increasingly seeking legal counsel to amend rigid Deeds of Family Settlement (DFS) originally drafted decades ago. These deeds, designed to safeguard inheritances, now pose challenges as younger generations seek to expand globally into new sectors like fintech, tech-led consumer businesses, and electric vehicles. Legal experts note that the old deeds lack flexibility for today's globalized and dynamic business environment, prompting families to consider amendments to address issues such as wealth protection, succession planning, and regulatory compliance.
Gautam Gambhir sole candidate for India cricket team's coaching job, to be interviewed on Tuesday: Report
Gautam Gambhir is the leading contender to become India’s next head coach, according to media reports. He is the only applicant for the position, which will be vacated by Rahul Dravid after the T20 World Cup. Gambhir, a former international cricketer and ex-politician, recently coached Kolkata Knight Riders. Despite rumors of other candidates, BCCI Secretary Jay Shah confirmed no Australians had been approached.
India a hotbed for startups and key market for Google Cloud: global sales head
Google Cloud's president-global sales, Matt Renner, highlighted India's significance as a key global market for startups. Renner emphasized the company's increased investments in Indian startups, particularly in the field of artificial intelligence innovation.
Global rates will come down, India certainly to be a top beneficiary: Jose Vinals, Standard Chartered
The Indian elections resulted in a surprise, denying an outright majority to the BJP. Despite this, prospects of strong growth through Narendra Modi's third premiership offer comfort to international businesses, as highlighted by Jose Vinals, chairman of Standard Chartered.
How India's new brain power adds to its economic brawn
India is transitioning from being the telemarketing voice of MNCs to their intellectual hub with the rise of GCCs. These fully owned and integrated hubs are driving growth, innovation, and value creation by leveraging India's talent pool. With a projected doubling of GDP share by 2030, GCCs are transforming India's economy and IT landscape, attracting global companies seeking tech talent and cost efficiency.
Green flavour not enticing enough for bond investors
Green bonds in India face challenges due to the absence of financial institutions focusing on green financing and investors enthusiastic about environment protection. Follow-up issuances have dried up a year after the first government green bond sale.
India a big aviation market; good to have stronger Lufthansa-Air India partnership: Star Alliance CEO
CEO Theo Panagiotoulias highlights the importance of a strong partnership between Air India and Lufthansa within the Star Alliance to offer a unique value proposition for passengers in the Indian aviation market.
Ozempic: Bengaluru is the secret ingredient behind the wonder weight loss drugs' success
Novo Nordisk's India team played a pivotal role in the success of Ozempic, a semaglutide-based drug for diabetes and weight management. The Bengaluru-based Global Business Services unit collaborated on clinical trials and biostatistics. Despite global demand, Ozempic's availability in India remains uncertain due to supply challenges, with significant hiring planned to bolster Novo Nordisk's workforce in India.
Foreign exchange reserves climb to record $651.5 billion
India's foreign exchange reserves reached a record $651.5 billion, showing resilience amid uncertain geopolitics. RBI Governor Shaktikanta Das is confident in meeting external financing needs. Services exports, driven by software, business services, and travel, rose 4.2% in Q4 FY24, with a significant boost from GCCs.
Sony India elevates Jaideep Janakiram to head of International business
Sony Pictures Networks India (SPNI) appoints Jaideep Janakiram as the new Head of International Business and Operations, succeeding Neeraj Arora. Janakiram, previously leading the Americas division, will now report to Rajesh Kaul, Chief Revenue Officer. Several key team members will now report to Janakiram, ensuring the continuity and growth of SPNI's international business.
India's services sector softens to five-month low in May: PMI report
India's services growth slowed to a five-month low in May due to weaker domestic demand, despite record export growth and a 21-month high in job creation. The services PMI fell to 60.2 from 60.8 in April. Input costs rose, intensifying price pressures and possibly delaying interest rate cuts by the RBI.
Modi plans post-election reforms to rival Chinese manufacturing
Indian Prime Minister Narendra Modi is planning business-friendly measures if he secures a third term, aiming to boost domestic manufacturing by easing labor regulations, offering subsidies, and reducing import taxes. Modi's vision includes creating industrial zones to attract global firms, but challenges remain with restrictive labor laws, land acquisition, and high import tariffs. His reelection campaign emphasizes economic development and positioning India as a manufacturing hub.
Trent plans global retail push after acing it in India
Noel Tata-led Trent is venturing into international markets with a flagship store in Dubai, targeting the Indian diaspora. Zudio, a key brand, has surpassed ₹7,000 crore in revenue in India. The company experienced another year of substantial growth in FY24, with net sales increasing by 50% to ₹12,375 crore and net profit nearly quadrupling to ₹1,477 crore.
Listen closely: From Google smart speakers to Paytm soundboxes, these businesses are thriving in manufacturing
Making for others can be more lucrative than building a brand for themselves — this realisation has created a brigade of small contract manufacturers who are making India’s place prominent in the global electronics manufacturing services map.
GlobalLogic sees increased business from India-based GCCs
GlobalLogic has seen a significant increase in its India business due to the growing number of global capability centres (GCCs) in the country, according to the company's top executives.
India has what no other country has today: Randstad CEO Sander van 't Noordende on India's talent market
Sander van 't Noordende, CEO of Randstad, highlights India's vast market and talent potential. With a focus on specialization and digital tools, India stands out for growth opportunities compared to other global markets. Noordende emphasizes the importance of understanding individual talent needs in a competitive landscape with evolving employment dynamics.
Capital goods train delay hits India Inc's capex plans as manufacturers in China & Southeast Asia embark on their own expansion plans
Geopolitical tensions and the Red Sea crisis have increased delivery times for machinery, affecting production lines and capital goods planning for Indian companies like Amber Group and Havells India.
More PEs head to India armed with big money to bag deals
Growtheum Capital Partners, a private equity firm headquartered in Singapore, is scheduled to inaugurate its Mumbai office this July, joining the growing list of PE investors in India. At the same time, US-based private equity firm Platinum Equity is evaluating investment opportunities across various sectors such as healthcare, technology, and infrastructure as it prepares to enter the Indian market.
India May business growth robust as exports rise at record pace, PMI shows
HSBC's flash India Composite purchasing managers' Index , compiled by S&P Global, rose slightly to 61.7 this month from April's final reading of 61.5, marking the 34th month above the 50-level separating growth from contraction.
India will have to find ways to reduce India Inc’s over-reliance on a belligerent neighbour
It is clear that the government will not opt for irrational curbs on imports because that can derail several industries. But it will have to find ways to reduce reliance on a belligerent neighbour that is relentlessly fortifying its position on the LAC.
'Global interest in India encouraging for local industry': Sanjiv Puri
Sanjiv Puri, chairman of ITC, highlighted the global interest in the Indian economy at the CII Annual Business Summit 2024, emphasizing India's success in the digital economy and renewable space sector, showcasing public-private partnerships for global success.
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