TOP FIVE IT SERVICES
Pressure on diagnostics industry will continue for another five years : A Velumani, Thyrocare Tech
Yes, there were challenges in diagnostic industry of a different nature in early 2000. There were no automations available adequately. Before year 2000 there were only two-three automations in the country and by another 10 years it became 500, another 10 years it has become literally 5,000.
Weekly Top mid and smallcap picks: These mid and smallcap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Zomato stops ‘Xtreme’ service; Reliance to bring back Shein
Zomato has halted its hyperlocal goods delivery service due to a lack of demand.
CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
TCS signs five-year partnership with Sydney Marathon
TCS did not disclose the financials of the partnership. This is the latest marathon to be added to TCS's portfolio. The TCS Sydney Marathon is part of the larger running events including four World Marathon Major races in New York, London, Chicago and Boston, alongside marathons in Amsterdam, Mumbai, Singapore and Toronto.
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
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Vienna tops the list of 10 best cities to live in the world, Pakistan’s Karachi features in the bottom 10
The Economist Intelligence Unit (EIU) annually releases its Global Liveability Index, ranking cities based on stability, healthcare, culture and environment, education, and infrastructure. In the 2024 report, Vienna, Austria, remains the top city for the third consecutive year, praised for its cultural vibrancy and exceptional public services. However, cities like Karachi, Pakistan, and Dhaka, Bangladesh, are among the least livable, ranking in the bottom ten.
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Why deal sizes are shrinking for top Indian IT companies
IT service providers are experiencing shrinking average deal sizes to as low as $25 million due to cost efficiencies, GenAI transformation, and shorter tenure projects amid uncertain macro-economic conditions. Despite an increase in large deal volume during FY23, industry analysts report a decrease in the average value of those deals. This comes even though Indian software exporters remain major players on the global stage.
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
FSIB shortlists five for executive director positions
FSIB shortlisted five CGMs for ED positions in public sector banks after interviewing 57 candidates. Vaheed, Rajeeva, and Majumdar are top three in the list, while Surendran and Srivastava are number four and five.
First NFRA annual report on eight audit firms by November
The National Financial Reporting Authority (NFRA) is set to conduct its first annual inspection of eight audit firms, including the Big Five, to reveal its findings by October or November. The inspection will focus on auditors' processes and standards, revealing how NFRA plans to strengthen the country's audit and accounting ecosystem to combat corporate frauds and uphold shareholders' interests in a rapidly growing economy.
M-cap of five of top-10 most valued firms jumps Rs 85,582 crore; LIC biggest gainer
Top-10 firms gained Rs 85,582.21 crore in market valuation last week, with LIC leading. BSE Sensex rose 0.39%, hitting an all-time high. Market cap changes noted for Reliance, HDFC, Bharti Airtel, SBI, and LIC.
Services export boom is most unheralded story of India in last five years: S Naren
And I do not like to name companies, but most of the financial services companies in the world are dependent on their Indian global competency centres to do all kinds of work for them and that is the biggest positive that has happened and due credit to India for having achieved it over the last five years because 10 years back we had IT services companies, we did not have GCCs of the scale.
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.
This large-and mid-cap equity mutual fund gave 18.5% returns in five years; should you invest?
Canara Robeco Emerging Equities: This fund shifted its positioning from a mid- and small-cap offering to its current large- and mid-cap mandate a few years ago. It retains preference for businesses with improving fundamentals or experiencing temporary setbacks. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
India emerges a top five destination for realty FDI
India ranked among the top five global destinations for cross-border capital in land and development site investments in the March quarter, with foreign investors accounting for about 55% of the inflows, according to real estate services firm Colliers. Significantly, 73% of new foreign investments targeted ready assets, as reported in Colliers' latest Asia Pacific Global Capital Flows report.
India ranked among the top five in the Asia-Pacific region for developmental assets
India emerges as a top global capital destination in Asia Pacific for land and development sites, with significant foreign investments. Colliers's Asia Pacific Global Capital Flows report highlights 73% of foreign investments directed towards ready assets in Q1 2024.
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.
BlackRock’s Ethereum spot ETFs listed on DTCC: Five cryptos to diversify with and capitalise on this trend
BlackRock's spot Ethereum ETF, ETHA, listed on top of DTCC after SEC approval of eight spot Ethereum ETFs. Traders diversify holdings in Web3 space for market gains.
Top two tech firms shed Gen Z flab, gain silver muscle
The share of Gen Z employees - or those aged 30 and under - fell by about 5 percentage points last fiscal at Bengaluru-based Infosys, and by over 2.5 percentage points at Mumbai-based TCS. The trend underscores a tepid IT hiring climate amid industry turbulence, which have impacted onboarding of young talent the most.
NDA is already near 200 seats, on track to get past 400: Amit Shah
Union Home Minister Amit Shah is confident that the BJP will achieve its 400-paar figure this election and says the party would win up to 200 of the 283 seats in the first three phases alone. In an interview with Rahul Tripathi and Pranab Dhal Samanta, he says that elections will be held in Jammu & Kashmir ‘according to court dates’ and opposes any reservation based on religion. Excerpts:
India can't, in the name of open economy, open up its national security to work with China: S Jaishankar
From the big shifts in foreign policy under the Modi government, the China challenge to CAA and the heat and dust of electoral politics, External Affairs Minister S Jaishankar touched on a range of topics in a freewheeling discussion at the ET Roundtable.
Top IT companies cut over 72,000 jobs in FY24
The top six information technology services companies in India reported a reduction in their total headcount in the last fiscal year, with only HCLTech adding employees. Factors contributing to this reduction include the economic slowdown, automation, restructuring, and decreased discretionary spending. The drop in headcount reflects the aftermath of excessive hiring during the Covid boom and ongoing industry contraction in demand. However, experts believe that this trend may have bottomed out, and companies could resume hiring, given the strong deal wins announced by most of them, which could push a gradual pickup in growth.
Top five cryptos to invest in this April to boost your portfolio earnings
The crypto market rebounds in March with altcoins like Solana, Ripple, KangaMoon, and Dogwifhat showing gains. Bitcoin hits an all-time high, while investors diversify portfolios. KangaMoon's presale momentum and unique features make it a promising investment option for potential gains.
Five of top 10 firms take Rs 1.97 lakh cr hit in market valuation; TCS, Infy biggest losers
The combined market valuation of five of the 10 most valued firms eroded by Rs 1,97,958.56 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit amid volatile trends in equities. Last week, the BSE benchmark climbed 188.51 points or 0.25 per cent.
IT’s fab five to narrow gap with smaller peers as costs bug clients
The revenue share of 83 Tier-II and -III companies increased steadily over the past seven quarters to hit a record 17.7% of the aggregate rupee-denominated revenue for a sample of 88 IT companies in the December quarter while their net profit share was also at a record 14.5%.
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