TECH COS
Tech-first brokers hit a snag; Foxconn’s Bharat FIH in trouble
Happy Thursday! Online stock brokers, who used low fees to attract customers, now face an uncertain future with Sebi’s new rules. More on this in today’s ETtech Morning Dispatch.
Hot Stocks: Brokerage view on Bandhan Bank, HDFC Bank, Tech Mahindra and Amara Raja
Brokerage firms like Citigroup, JPMorgan, and Bernstein provide ratings on Tech Mahindra, Amara Raja Batteries, and HDFC Bank. ETNow and other sources collated the recommendations, including Citigroup's sell rating on Tech Mahindra with a raised target price.
Trouble for techies: Wipro, Infosys and other IT cos delay onboarding of 10,000 freshers, refuse to provide joining date
Tech giants are experiencing a significant decrease in hiring, with companies like Infosys and Wipro postponing the onboarding of new recruits, leaving them uncertain about their joining dates, according to a report by ToI. India's prominent IT firms have deferred the onboarding of around 10,000 freshers who received job offers in the past two years, as revealed by data from the IT employee union Nascent Information Technology Employees Senate (NITES).
IPO-bound cos wary after poll results; NBFCs’ balancing act
Happy Friday! New-age firms planning to go public are moving cautiously as stock market volatility remains a concern after the 2024 general election results. This and more in today’s ETtech Morning Dispatch.
Rising employee productivity to boost IT cos in hard times
Top tier IT exporters see rising employee productivity amidst challenges like revenue deceleration, shrinking margins, and lower headcount in FY24.
Climate change: Cos need some big changes on compliances
World Environment Day holds significance for companies amidst climate change. India Inc's environmental compliance record shows room for improvement. Only 122 of the top 1,000 companies disclosed conducting EIAs in their FY23 reports sourced from Prime Database.
- Go To Page 1
Food delivery cos bet on existing users; Infosys CEO interview
Happy Tuesday! With user growth stagnating, Zomato and Swiggy are prodding existing customers to order more. This and more in today’s ETtech Morning Dispatch.
Visa fee hike hits IT cos; Airport cab fares set to rise
Happy Friday! The hike in H-1B visa fee will hurt IT service companies severely, experts have warned. This and more in today’s ETtech Morning Dispatch.
Sebi amends rule to facilitate ease of doing biz for cos planning IPOs
Rules mandate at least 20% of promoters’ shares to be locked in for a certain period of time post-listing after an IPO. This relaxation will help new-age technology companies as founders’ shareholding comes down usually after an IPO. Non-promoter shareholders excluding individuals holding more than 5% of the post-offer equity share capital can contribute towards the shortfall, Sebi said.
UPI’s rural push; India as software IPO destination
Happy Wednesday! The country’s central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in today’s ETtech Morning Dispatch.
Godrej family split: Adi, brother to keep listed firms; cousin Jamshyd to get unlisted cos, land bank
As per the arrangement that was uploaded on stock exchanges, Jamshyd Godrej, along with his niece Nyrika Holkar and their families, will now oversee the Godrej Enterprises Group (GEG), encompassing Godrej & Boyce and its affiliates spanning various industries. This development marks a significant change in control within the organisation.
US quarterly earnings to feature big growth in tech-related companies
Big technology-related company earnings are expected to again lead S&P 500 profit growth in the upcoming U.S. reporting period, which could refuel optimism for stocks after a weak start to April.
Lack of mass hiring by Amazon and other big cos adds to the woes of IITD students amid 30% drop in job offers
IIT Delhi's 2024 placement season faced challenges as students struggled to secure roles despite approaching numerous recruiters. The demand for specialized skills and absence of top firms added to the pressure, reflecting the tough job market conditions.
HCLTech announces alliance with Google Cloud to scale Gemini to global cos
HCLTech and Google Cloud collaborate to train 25,000 engineers on GenAI using Gemini AI model. The alliance focuses on manufacturing, healthcare, and telecom sectors. CEO confident about GenAI solutions for accelerated software project delivery.
CCI can now impose fines based on cos' global turnover
The Competition Commission of India can now impose penalties on companies based on their global turnover. The amendment is likely to have major implications on multi-product companies and those with global operations, leading to the use of settlements or commitments to avoid steep penalties.
Big tech cos delisting small apps over fees but won't pay fair share for network use: COAI
Telecom operators in India have criticized large traffic generators (LTGs) for refusing to pay their fair share for using telecom networks, arguing it would hurt startups and small businesses. The Cellular Operators Association of India (COAI) director-general, SP Kochhar, criticized the proposal, stating that it would deter small players from operating on the network.
Foreign firms looking to set up GCCs in India; may need 45-50mn sq ft office space by 2025: Colliers
The demand is mainly led by improved business sentiments and a positive economic outlook, signalling confidence among foreign-origin companies seeking to establish their capability centres in the country.
EV firms driving demand for expats; cos increase hiring in tech, engineering, R&D roles
As India emerges as a key player in the global electric vehicle market, companies like Tata Motors and Ather Energy are actively recruiting expat talent, seeking expertise in R&D, engineering, and strategic partnerships to fuel their growth in this burgeoning industry.
Boards are getting younger as companies look for tech skills in directors
According to data from Primeinfobase, about 830 first-time independent directors were appointed in calendar 2023, up from 776 the previous year and 518 in pre-pandemic 2019. The average age of these first-time independent directors has declined to 53 years in 2023 from 59 years five years earlier.
In next 3-4 quarters, falling attrition may spring big surprise in IT cos’ margins: Sandip Agarwal
Sandip Agarwal says: “This quarter, the IT companies will show a slight beat in margin. In the next quarter, thereshould be a bigger beat in margin followed by even further better margins in the first half of FY25. We will have good margins to start with followed by good revenue growth.”
FMCG companies use tech to fill up stocks at Q-Comm partners
FMCG giants such as Nestle, ITC, Parle Products, LT Foods, and Coca-Cola are adopting real-time data exchange and demand forecasting to prevent stock-outs at quick-commerce (Q-comm) platforms like Blinkit, Swiggy Instamart, BBNow, and Zepto.
Market has figured out bottoms for new age tech cos; look at them long-term: Gautam Trivedi
“Varun Beverages, Landmark, Inox Wind, Sampada are among top five holdings on a mark to market basis. These are actually companies that we are in the special sits (situations) fund. We look for steady compounders as well. Varun Beverages was a special sits which became a steady compounder as did Landmark Cars.”
More students of 2024 batch in role call at manufacturing companies
This is in stark contrast to one of the toughest placement seasons in recent memory faced by students at the country's top B-schools and engineering institutes as the technology sector — the biggest recruiter of white-collar talent — has cut fresher hiring amid macroeconomic uncertainty.
Focusing more on pharma cos with US exposure: Pawan Parakh
“We are very clearly placed on companies which have got international exposure as far as pharmaceutical is concerned. Real estate continues to be very exciting and we are playing the entire real estate and building materials theme with stocks across sectors. We own cement and building material companies as well as select real estate.”
Manik Taneja on how Tech M will fare? What to expect from IT cos in H2
Axis Capital's Manik Taneja says that tier-1 tech companies have managed to maintain margins well, with some deferring wage implements. However, growth has been modest and below expectations for most companies in the IT sector. Taneja does not expect significant positive surprises in Tech Mahindra's upcoming earnings report and believes that the company's margins may not show a significant uplift. Axis Capital has a negative view on the sector overall, with Tech Mahindra being the only positive-rated stock among tier-1 companies.
Breaking down IT's earnings season and buyback bonanza
“The challenges which the IT companies had still continue. They have worked very hard to ensure the cost escalation does not happen. They have also worked towards gaining large orders.”
IT stocks log best day in 3 years; TCS jumps over 5% on easing rate worries, strong deal pipeline
Among frontline stocks, Tech Mahindra rallies 4.51%, Infosys climbs 4.40%, HCL Technologies gains 3.80% and Wipro advances 2.69%.
Slowdown transient, TCS & HCL Tech to bounce back on long-term demand
The management commentary by each of the companies reveals that the demand slack is on account of either a delay in decision making by clients or sporadic ramp downs in some of the projects. Going by the deal additions of TCS and HCLTech’s narrative of making up for the lost ground in subsequent quarters purports that the slowdown is of transient nature since clients continue to invest for the long term
Load More
