The IT industry has undergone notable leadership changes over the past two years, with significant shifts at companies like Wipro, Infosys, and Tech Mahindra. Key executives have been replaced, often with internal promotions. Succession planning strategies and new CEO hires have influenced these transitions.
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India will not immediately restrict laptop imports, expecting local production to grow through initiatives like the Rs 17,000 crore PLI scheme by companies such as HP and Dell. Additionally, the government is finalizing an enhanced financial incentive plan to attract new semiconductor investments.
The Central Government has requested Starlink, Elon Musk's satellite venture, to establish a control centre in India. This measure will enable the suspension or shutdown of communications services in sensitive areas when needed to maintain law and order. Additionally, call interceptions by law enforcement agencies must be facilitated. Starlink is working with Reliance Jio and Airtel for network enhancements.
Stock market recommendations: Jio Financial Services, Tata Motors, and Finolex Industries are recommended for buying today based on technical indicators suggesting potential reversals.
India is likely to witness a $50 billion consumption and savings boost due to the wage revision for central government employees and pensioners in January 2026. Around 3.1 crore people are expected to benefit, with UBS predicting the hike to have a stable impact on India's fiscal position, favoring savings over consumption.
Tesla's global sales recorded a decline for the first time in at least nine years, dropping 1.1% to 1.79 million vehicles in 2024. Despite incentives, waning demand and increased competition contributed to the drop. Fourth-quarter sales missed expectations, with the average sales price falling, impacting profit margins.
Gold and silver prices hit new record highs in India due to global market trends and economic concerns. Gold of 99.9% purity reached Rs 90,750 per 10 grams, while silver surged to Rs 1,02,500 per kg. The increase is driven by safe-haven demand, trade tensions, and expectations of US Federal Reserve monetary easing.
Foreign portfolio investors remain cautious on Indian equities in light of uncertainty around Q3 FY25 earnings recovery and fair market valuations, despite strong domestic institutional investor support. The Indian rupee's depreciation and global factors are contributing to market volatility.
HDFC Life reported a 14% rise in net profit to Rs 415 crore for the December quarter, up from Rs 365 crore a year ago. However, total income declined to Rs 16,914 crore from Rs 26,694 crore. The solvency ratio dropped slightly to 188% from 190%, still above the regulatory requirement of 150%.
The Indian rupee rose by 3 paise to 85.69 against the US dollar, supported by increased foreign fund inflows. Despite initial setbacks, it managed to close higher, buoyed by foreign banks and exporters. The rupee opened at 85.71 and fluctuated throughout the day, facing pressures from liquidity constraints and month-end dollar demand from importers.
Stock market recommendations: Mirae Asset Sharekhan's Somil Mehta recommends buying NTPC and HUDCO shares. NTPC, exhibiting a flag pattern breakout, is suggested for purchase between Rs 355 and 365, targeting Rs 390 with a stop loss at Rs 340.