Venu Lambu, the new CEO designate of LTIMindtree, is focused on managing client expectations as AI-driven productivity gains affect deal outcomes. Recently, LTIMindtree passed substantial AI-induced productivity benefits to its top client, Microsoft, which significantly impacted revenue from top accounts. This trend may influence future client negotiations and drive industry-wide changes.
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The RBI has announced the launch of exclusive internet domains, 'bank.in' for Indian banks and 'fin.in' for non-bank financial entities, to address cybersecurity. New domains will enhance security and reduce fraud. Additional Factor of Authentication will be implemented for cross-border card transactions to further secure digital payments.
In 2023-24, 58% of manufacturing establishments were led by women, a rise from the previous year. Women made up 28.1% of the overall workforce, with significant contributions in OAEs and proprietary businesses. Notably, West Bengal and Maharashtra employ significant numbers of female workers in rural and urban sectors, respectively.
Indian IT firms generated $20 billion in free cash flows last year with over 75% returned to shareholders. Experts highlight the need for a reset as AI disrupts traditional business models. They suggest reinvesting in innovation and strategic investments to leverage future opportunities rather than focusing only on short-term shareholder returns.
PB Fintech's Policybazaar is investing Rs 860 crore for a 25% stake in PB Healthcare to develop hospitals with a 1,000-bed capacity. These hospitals aim to offer zero rejection and cashless treatment. The initiative seeks to address the rising healthcare costs and will initially cover the NCR before expanding further.
The Sensex surged 843 points to a two-month high of 82,133, driven by strong foreign fund inflows and buying in FMCG, IT, and banking stocks. This followed a volatile session with a 2,100-point intraday swing, influenced by global market weakness and uncertainty about China's economic recovery. Market sentiment remains cautious due to rising US Treasury yields and a weaker rupee.
Bank depositors are covered by the DICGC's insurance scheme up to Rs 5 lakh per account. Strategically distributing deposits across various banks can enhance coverage, as personal accounts, business accounts, and different joint arrangements are treated separately.
The market valuation of six of the top 10 valued domestic firms, including Infosys and TCS, decreased by Rs 1.71 lakh crore last week. Meanwhile, Reliance Industries, Bharti Airtel, State Bank of India, and LIC saw gains, with Reliance Industries being the most valued firm.
Sajjan Jindal, chairman of the JSW Group, plans to invest Rs 5.8 lakh crore ($70 billion) in renewables, steel, cement, infrastructure, and automobiles over the next six years. Jindal argues that India needs tariffs to protect domestic industries from cheaper Chinese imports, which are threatening local manufacturers. He stresses the need for government support to compete with China.
China's foreign minister Wang Yi criticizes the US for imposing arbitrary tariffs despite China's efforts to curb fentanyl exports. He warns that such actions disrupt global stability and mutual trust. Wang emphasizes China's strong ties with Russia and calls for greater representation of developing nations in global governance, highlighting China's role as a stabilizing force.
Laxmi Dental Ltd's IPO got fully subscribed within minutes, ending the day at 5.28 times subscription with significant interest from retail and non-institutional investors. The IPO is a mix of fresh issues and OFS, with proceeds aimed at debt repayment and capital expenditure. Shares will be listed on BSE and NSE.