HIGH PROFILE EXITS IN WIPRO
Quant Mutual Fund probe: Should you stay invested or exit your investment?
All things considered, and drawing parallels with the past cases, there is little logic in investors rushing to exit Quant funds based on what we know so far. While it’s possible that the circumstances may be worse than they currently appear to be, a wait and watch approach might be the most prudent policy at this stage.
View: Gender diversity needs work
This year, 797 women candidates contested the general elections, constituting 9.6% of the total 8,337 candidates. Only 74 of them won a seat in the 18th Lok Sabha - four fewer than the number of women in the 17th Lok Sabha. This comes less than a year after the passage of the Women's Reservation Bill, which reserves one-third of seats in Lok Sabha and assemblies for women.
Adani Ports enters Sensex, Wipro exits as part of semi-annual rejig
Adani Ports joins Sensex as Wipro exits. The inclusion of APSEZ brings $259 million in passive inflows. Seven stocks' weights to rise: Bharti Airtel, Infosys, Kotak Mahindra Bank, ICICI Bank, Tech Mahindra, Tata Steel, and IndusInd Bank.
Adani Ports to enter Sensex on Monday, Wipro to exit as part of semi-annual rejig
Adani Ports’ Sensex inclusion will trigger passive inflows of $259 million and 14.9 million shares are expected to be added, according to Nuvama’s estimates. Wipro’s exclusion could see outflows of $170 million.
IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
Ambuja Cements may repay Penna's debt
Private credit funds, including Edelweiss Alternative Asset, expect Ambuja Cements to repay Penna Cement's high-cost debt ahead of schedule. Adani Group-controlled Ambuja Cements acquired Penna Cement for ₹10,442 crore, aiming to reduce borrowing costs and improve credit ratings. The acquisition will help Ambuja Cements to refinance or repay Penna Cement's existing term loans and high-cost debt, including ₹400 crore to Edelweiss Alternative Asset.
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Quant Smallcap Mutual Fund hikes holding in Adani Power, exits Hindalco, Britannia
Quant Small Cap Fund increased holdings in Adani Power in May. Fund exited stocks like Hindalco, Bharat Electronics, and Britannia, as per ETMutualFunds analysis.
Election results: How mutual fund investors should tweak their investment strategy
ETMutualFunds consults advisors on post-election investment strategy adjustments for conservative, moderate, and aggressive mutual fund investors. Recommendations include gradual equity exposure increase for conservatives, balanced portfolios for moderates, and focus on growth sectors for aggressives, with emphasis on research and risk management.
Election Verdict Impact! ICICI Bank, HDFC Bank, RIL ADRs plunge up to 11%
The decline follows mayhem in the Indian markets. The benchmark index S&P BSE Sensex closed at 72,079.05, falling by 4,390 points or 6%. Nifty 50 corrected by 1,379.40 points or 6% to settle at 21,884.50. ADRs of Wipro, MakeMyTrip, Yatra Online, Dr Reddy's Laboratories were some of the other losers, which fell up to 3%.
Lok Sabha poll results: All eyes on UP's high-profile seats
Uttar Pradesh is set for vote counting on June 4, with high-profile candidates like Prime Minister Narendra Modi, Union ministers Rajnath Singh and Smriti Irani, and opposition leaders Rahul Gandhi and Akhilesh Yadav in the race. The ruling BJP, along with allies Apna Dal, NISHAD party, Rashtriya Lok Dal, and the Om Prakash Rajbhar-led SBSP, contested the polls. Opposition INDIA bloc partners Samajwadi Party and the Congress fought together, with the Congress looking to regain lost ground in the state.
People who kept 'hisab-kitab' for Pakistan in the past queued up to vote this time: J&K Police chief
The Jammu and Kashmir administration and police have ensured a safe space for voters in the region during the recent Lok Sabha election, according to DGP Rashmi Ranjan Swain. This year's election saw a remarkable voter turnout, signaling a shift in the region's political landscape. The three Lok Sabha seats in the Valley, Srinagar, Baramulla, and Anantnag-Rajouri, recorded their highest-ever voter turnouts in the last three decades.
Madhya Pradesh Exit Polls 2024 Live Updates: BJP likely to repeat clean sweep, bag all 29 seats
Exit Polls 2024 MP News Live: The final phase of the 2024 Lok Sabha elections in India will conclude on June 1, with Madhya Pradesh playing a key role. Held in four phases from April 19 to May 13, the elections in Madhya Pradesh saw a 65% average voter turnout, with Neemuch Malwa leading at 71%. High-profile constituencies feature notable candidates, such as Jyotiraditya Scindia in Guna and Shivraj Singh Chouhan in Vidisha. As exit polls are awaited, historical trends show their mixed accuracy in predicting outcomes, reflecting the dynamic political landscape of Madhya Pradesh.
Kerala Exit Polls 2024 Live Updates: Axis My India and News 18 polls predict significant BJP gains
Exit Polls 2024 Kerala News Live: The 2024 Lok Sabha Elections in Kerala witnessed intense competition among key candidates across 20 constituencies. Notable contests include Rajmohan Unnithan (Congress) in Kasaragod, Rahul Gandhi (Congress) in Wayanad, and Shashi Tharoor (INC) in Thiruvananthapuram. The state, known for its high voter turnout, saw close battles between the UDF and LDF in constituencies like Ernakulam and Thrissur. Exit polls, expected to start on June 1, will provide early insights into the election results, which will be officially announced on June 4 by the Election Commission of India.
India’s five big IT firms see net exit of 25,000 women in FY24
The data analysis by staffing firm Xpheno revealed that five of India's top IT services companies - Infosys, TCS, Wipro, LTI Mindtree, and HCL Tech - have seen a collective net exit of 25,000 women in the year ending March. Despite an increase in the total number of women employed by these firms from 374,000 in March 2020 to 540,000 in March 2023, the diversity ratio has only seen a marginal growth of 0.9 percentage points during this period.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
Wipro CEO banks on internal talent, promotes veterans
Focusing on inside talent comes at a time when it has been dealing with exodus of senior leaders. This also comes after a period when Delaporte hired a lot of foreign citizens and expats at high salaries.
10 Best LED Strip Lights Under 2500 For Gorgeous Lighting
This article presents the 10 best LED strip lights priced under 2500, highlighting their key features, performance, and value for money. It evaluates each product based on brightness, color options, ease of installation, and additional features like remote control and smart home compatibility. The guide helps consumers make informed decisions by highlighting the best value-for-money options in the market.
OpenAI dissolves high-profile safety team after chief scientist Ilya Sutskever’s exit
OpenAI dissolves safety team led by Ilya Sutskever and Jan Leike, integrating efforts for AI system safety goals. The team was formed less than a year ago, and recent departures at OpenAI have raised concerns about speed versus safety in AI development. The company has Jakub Pachocki appointed as chief scientist for AGI mission, replacing Sutskever.
Tata Mutual Fund merges banking & PSU debt fund with corporate bond fund
The fund house informed about this to its unit holders through a notice-cum-addendum. The merger will be effective from June 15. From this date, Tata Banking & PSU Debt Fund will cease to exist and the unitholders of the scheme will become unitholders of Tata Corporate Bond Fund.
Stock Radar: This IT major has taken support above 200-EMA; time to buy the dip?
Wipro shares witnessed a price-wise and time-wise correction in the past three months. The stock fell by over 7% in the same period. In terms of price action, the stock is trading well below most of the crucial short- and long-term moving averages such as 5, 10, 30, 50, 100, and 200-EMA on the daily charts.
Wipro elevates Vinay Firake to head APAC, India, Middle East and Africa
Vinay Firake appointed CEO APMEA at Wipro, succeeding Anis Chenchah. Srini Pallia leads. Delaporte resigned, Hari Shetty elevated. Chenchah supports till May 31, 2024. Firake's educational background includes Wharton and Harvard Business School.
Paytm stock slides after COO exit; India’s first microcontroller chip
Shares of Paytm parent One 97 Communications fell 5% on Monday after its president and chief operating officer Bhavesh Gupta resigned. More on this in today’s ETtech Top 5.
Wipro Q4 Results Preview: Muted show likely once again, all eyes on new CEO’s growth roadmap
Wipro Q4 Results Preview: The company is projected to see its consolidated revenue remain stagnant compared to the previous quarter and decrease by 4.3% year-on-year (YoY) to Rs 22,185 crore, based on the average estimates provided by 10 brokerage firms.
Wipro CEO Thierry Delaporte's resignation: Shares fall as quick turnaround unlikely
Investors will await clarity on any strategic or organisational changes and capital allocation from new CEO and MD Srini Pallia.
Restless investors, turnaround hopes await Wipro’s new CEO Srinivas Pallia
Wipro CEO Thierry Delaporte resigns, Srinivas Pallia takes charge facing tough times. Must boost morale, focus on large deals, client mining, integrate acquisitions, manage industry analysts, and address executive departures for company revival.
Wipro CEO Thierry Delaporte quits, to be replaced by Americas chief Srini Pallia
Srinivas Pallia, who was the CEO for the company's Americas 1 area, will take over as the new CEO and Managing Director from April 7, the company added.
Who is Srini Pallia, Wipro's new CEO and MD?
Pallia succeeds Thierry Delaporte, who is stepping down to "pursue passions outside the workplace", the company said in a statement.
VCs in reset mode amid exit pressure; and other top tech & startup stories this week
While VCs haven’t really been busy closing deals over the past year or so, their performance has surely come under increased scrutiny as limited partners (LPs) or sponsors of funds ask for cash returns. The Indian venture market, which is now 15 years old, has been exit-starved and a prolonged downturn has exposed the state of the industry very clearly.
December begins with Dhamaka! Nifty hits record high on GDP, exit poll
On the sectoral front, Nifty Realty surged over 2%, and Nifty PSU Bank rose 0.75%. Also, Nifty Auto, Financial, FMCG, Media, Metal and Pharma rose in early trade. In the broader market, Nifty Midcap100 gained 0.66%, while Smallcap100 surged 0.7%.
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