TIER 1 TECHS
Pankaj Pandey on 2 sectors that are likely to see strong Q1 earnings
Raymond specifically, we do not have a coverage. But I think you have very few stocks which can be bought at current levels in real estate given the price appreciation a lot of these stocks have seen. So, some bit of a time correction or price correction is what we are waiting for.
Orient Cement shares zoom over 5% amid UltraTech’s plans of acquisition
UltraTech, led by Kumar Mangalam Birla, is in advanced talks to acquire Orient Cement from CK Birla for Rs 350-375 per share to counter Adani Cement, following a 23% stake in India Cements. Valued at Rs 6,417.51 crore or $109-110 per ton, Orient Cement's acquisition might finalize by July 19, pending Telangana expansion contingency.
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.
S&P 500, Nasdaq post record closing highs as data stokes hope for rate cut
Exciting market dynamics unfold as Paramount Global, National Amusements, and First Foundation make significant moves, shaping investor sentiment and market trends.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
Mid and small IT companies showed sustained improvement in revenue, profit share in March ’24 quarter
Small and medium sized IT companies continued to show year-on-year improvement in the share of aggregate revenue and profit of the sector in the March 2024 quarter though the extent of improvement has tapered down implying resilience from the top tier companies.
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Video commerce offerings gain traction, Indians spent over 2 mn hours video shopping: Flipkart
Flipkart announced on Thursday that its video commerce platform has seen significant adoption, with Indian customers spending over 2 million hours on it from June 2023 to May 2024. The increase in usage highlights the growing trend of video commerce in India, driven by tech-savvy and digitally inclined consumers.
Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
TechM to leverage M&M's network via cross selling
M&M aims to unlock Tech Mahindra's potential through cross-selling and synergies within the group. Tech Mahindra, India's fifth largest IT firm, plans to leverage group relationships for expansion.
IT stocks plunge up to 5% on Monday after 8% rally last week. Know how experts view sector!
Nifty IT index fell 2.3% with Coforge and Persistent Systems as top losers, despite Nifty hitting a lifetime high. IT sector has seen recent positive returns but remains a laggard over the quarter.
Midcap IT companies in India poach talent from industry majors
Midcap IT companies in India are attracting more employees from larger rivals in the past two years. This trend is seen in the technology services sector amidst macroeconomic challenges and a focus on hiring deployable talent.
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.
Top IT companies focus on employee productivity amid demand uncertainties
Amid revenue deceleration, shrinking margins and lower headcount, a silver lining for the top tier IT exporters is the rising employee productivity aided by streamlining of human resources through meticulous bench management.
As work-from-home trend declines, flexible office spaces work for employees and companies
Providing convenience and flexibility for employees on one hand, cost-effectiveness, and asset-light models for employers on the other, coworking/managed spaces are booming. Demand for such spaces is soaring in large metros and Tier-2 cities alike as companies tighten return-to-office rules.
Cement, infra are key sectors to look at because of prospect of policy continuity: Pankaj Pandey
Pankaj Pandey discusses the impact of the incumbent government's majority on the market, focusing on earnings, Budget expectations, and sector performance post-elections. Pandey further says once this monsoon gets over the focus will shift towards the overall infra spend side. Cement has not seen much of a price performance and key players like ACC, Ambuja, UltraTech or JK Cement are going to experience a slightly better growth rate than the industry.
10 Best Racks and Shelves for Kitchens Under 500
Organizing the kitchen is a lot easier than you must have imagined. All you have to do is get a rack or a shelf that has enough space to keep all your staple food items like coffee, tea, spices, ghee along other kitchen essentials. Here is a well-curated list of 10 best racks and shelves under 500 that will help you save space on the countertop.
Out of school, into startups: Young founders are on the rise, ready to even pause studies to chase their entrepreneurial dreams
In 2023, Ayush Pathak and Aryan Sharma founded Induced, assisting businesses in automating workflows with AI. Apoorv Singh launched Connect AI with Asta. Himanshu Rajpurohit's startup, Strangify, provides corporate mental health solutions. Dyumna Madan's ProjectClay helps students find career paths.
SBI, Godrej Consumer top buys post Q4 results; could give 13-17% upside in 1 year
SBI and Godrej Consumer are top buys post Q4 results, led by BFSI and Auto sectors. Nifty stocks show growth, while Tier-1 IT companies face challenges. Business and credit growth outlook positive for SBI.
South India, led by Bengaluru and Chennai, spearhead India's tech talent surge
Among functional skills, development (35%) held the highest share of tech hiring demand: Quess Corp Annual Digital Skills Report FY24.
Xurbian India, bridging the gaps
According to projections for rural and urban productivity, by 2030, urban India will account for 70% of GDP. India targets to become a developed nation with a $26 tn economy by 2047. Rural productivity must grow from 50% of urban productivity today to at least 75%. Also, quality of life across urban and rural India must also transform.
Retailers to continue hiring in 2024, focus on tier 2, 3 cities : Report
In 2024, retail jobs surge with the operationalization of brands expanding from 2023, driving demand by 15-20%. E-commerce, despite startup leadership, faces hiring challenges. Logistics saw a dip. Retailers target fresh grads (52%) and experienced pros (38%). Tech adoption, sustainability, and skill development are key industry trends amid exponential e-commerce growth.
IT stocks' valuation palatable, says Kotak Equities. Check top 4 picks
Infosys, TCS and HCL Tech remain top picks of brokerage firm Kotak Institutional Equities followed by Cyient in the mid-tier segment amid an extended outlook for weak demand and macro uncertainty in the IT sector.
Tech companies plug into India's smaller cities for talent
The trend of Indian IT companies relocating to smaller cities is gaining momentum, driven by factors such as cost efficiency, government incentives, and the availability of talent. Workers like B. Ramachandran are choosing to live in places like Madurai over major tech hubs like Bengaluru and Chennai, citing reasons such as familial ties and lower living costs.
FIIs raise bet on TCS, Infosys, 4 other IT stocks in Q4. Time for a U-turn?
FIIs raised stakes in multiple IT stocks in Q4, hoping for a turnaround in FY25. However, they sold IT stocks in April, leading to a 4.4% drop in the Nifty IT index. Various companies and sectors were involved in these transactions.
Women participation in tech roles in non-tech sectors to grow by 24.3% by 2027: report
The tech women's participation rate in non-tech industries stood at 19.4 lakh workforce in 2023, which is expected to grow by 24.3% to 24.1 lakh employees by 2027, TeamLease Digital's report - Women at the Heart of India's Digital Evolution, has revealed.
Sops, tier-2 cities top focus in tech’s Karnataka GCC Policy wishlist
Karnataka's GCC policy targets industry growth through infrastructure investment, employment incentives, single window approvals, fast issue resolution, industry-specific curriculum, flat rate markup, transportation solutions, digital engineering services, and the Karnataka Digital Economy Mission.
Footprints gears up for expansion in tier - 1 cities of Gurgaon, Bengaluru, and Delhi
Footprints will add 7 centers in Gurgaon, reaching 80 in Bengaluru and 100 in Delhi within the next 2 years.
Biggies like Google, Amazon & Microsoft paying undergrads Rs 1 lakh stipends for internships
At IIT Mandi, 27 students have received Rs 1-lakh-or-more stipends this year. In Bengaluru, RV College of Engineering has seen 39 students earning over Rs 1 lakh in monthly stipends compared to 8 last year. Vellore Institute of Technology also reports approximately 30 students with Rs 1-lakh stipends, with companies like Couchbase and Amazon offering Rs 1.2 lakh and Rs 1.1 lakh, respectively. The internship window is yet to close this year for the final count.
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.
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