After weeks of organisational shakeup, Tata Digital’s new chief executive Naveen Tahilyani has come up with a revamped executive team for the Neu super app. Tahilyani announced his A-team in an internal mail to employees. The focus of the rejig has been to streamline the structure of the leadership and make the firm nimble and business focused.
Posts tagged Rediff
Sensex closes down 53 pts in volatile trade (21-05-2024)
Among the Sensex components, Nestle, Maruti, IndusInd Bank, ICICI Bank, Hindustan Unilever, Larsen and Toubro, Tata Consultancy Services, Infosys, HDFC Bank and Axis Bank were the major laggards. Tata Steel, JSW Steel, Power Grid, Tech Mahindra and State Bank of India were among the gainers.
ER and D sails get trimmed amid FY25 outlook fog (21-05-2024)
Indian engineering research and development (ER and D) players, such as Tata Technologies, Tata Elxsi, and Cyient, among others, had a subdued January-March quarter of 2023-24. The outlook for 2024-25 (FY25) also remains unexciting amid weak discretionary spending, prompting analysts to revise their growth expectations for the ongoing financial year (FY25).
Gains in tech firm ABB India may sustain (21-05-2024)
ABB India’s March quarter results (Q1CY24) were led by strong margin performance. Revenue was, however, largely in line with estimates at Rs 3,080 crore (up 28 per cent Y-o-Y and up 12 per cent Q-o-Q). The growth was across electrification (30 per cent Y-o-Y), process automation (73 per cent Y-o-Y) and robotics and motion (8 per cent Y-o-Y).
‘Now May Be The Time To Go All In’ (21-05-2024)
‘For experienced and risk-taking investors, now may be the time to go all in.’ ‘By ‘experienced and risk-taking’, I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.’ ‘On the other hand, those who exited the markets during the pandemic may go the SIP way.’
Debt fund investments surge to multi-year high (21-05-2024)
Debt mutual fund (MF) schemes, which witnessed relatively muted inflows in the past three years, saw a surge in investor interest in April amid election-induced volatility in the equity markets. Active debt funds garnered nearly Rs 66,000 crore net inflows in April, most at least since December 2020.
India Inc revenue up, but profit grows at slowest pace (21-05-2024)
India Inc reported an uptick in revenue growth in the January-March quarter (Q4) of 2023-24 (FY24), but it came at the cost of a deceleration in earnings growth.
Share of women in urban salaried jobs at 6-year low (20-05-2024)
The share of women employed in regular salaried jobs in urban India hit a fresh low in the January-March quarter (Q4) of 2023-24 (FY24). In the same period, the share of women engaged in self-employment went up. An analysis of the latest quarterly Periodic Labour Force Survey (PLFS) data showed the share of women in regular wage work among all employed women stood at 52.3 per cent in Q4FY24, down from 53 per cent in the previous quarter.
Election jitters drive FPI selloff to $3.5 bn (20-05-2024)
Foreign portfolio investors (FPI) have pulled out $3.5 billion from India’s equity markets so far this month. The selling comes on the back of election-induced volatility and the rotation of flows from India to China, where stocks are available at half the valuations. If the selling pressure remains at the current level, this will be the highest FPI pullout since January 2023.
Crypto firms bank on fair play (20-05-2024)
The regulatory gap between crypto firms registered with the Financial Intelligence Unit-India (FIU-India) and unregistered offshore entities is expected to narrow, industry players said, after global crypto players Binance and KuCoin received approvals to register with India’s anti-money laundering unit.