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☆ Morgan Stanley says India is having its longest and best bull market ever. Here's an ETF to play it
▼ + stars: | 2024-05-02 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

India's historic stock market rally shows no signs of slowing down and there is still time for investors to jump in, according to Morgan Stanley. Therefore, this is set to be India's longest and best bull market ever," the note said. Directly buying India stocks can be difficult for U.S.-based investors, but several exchange-traded funds are doing a solid job of capturing the market rally. The biggest U.S. ETF tracking India, the iShares MSCI India ETF (INDA) , is up more than 7% year to date and more than 27% over the past 12 months. The Franklin FTSE India ETF (FLIN) is also up more than 7% in 2024, but 31% over the past year.

Persons: Morgan Stanley, Ridham Desai, Desai Organizations: U.S, Reliance Industries, Icici Bank, Infosys, Franklin FTSE, EPI Locations: India, Franklin FTSE India, FLIN

☆ A young Duke professor won $250,000 for her algorithms that could find symptoms of heart disease when they start
▼ + stars: | 2024-05-01 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +6 min

Amanda Randles creates virtual simulations that incorporate data from patients' wearable devices. To that end, Randles, a professor of biomedical sciences at Duke University's Pratt School of Engineering, spends her time building some of those virtual simulations. Tracking cancer cellsWhen cancer cells circulate through the bloodstream, they can sometimes acclimate in a different part of the body and form new tumors, which is known as metastasis. In her simulations, Randles changes different parameters, like how the size of the cell's nucleus affects its movement. Advertisement"What is it about the cancer cells that are making them more likely to go to the brain or to the breast," she said.

Persons: Amanda Randles, —, Randles, Salil Parekh, It's Organizations: Duke University, Computing, Service, Business, Duke University's Pratt School of Engineering, Association for Computing, Infosys, Apple Watch

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Tesla, Netflix, Cisco, Alphabet, American Eagle & more
▼ + stars: | 2024-04-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Barclays downgrades American Express to equal weight from overweight Barclays sees "limited upside" on valuation for the stock. Compass Point downgrades Wells Fargo to neutral from buy Compass sees a more balanced risk/reward for shares of Wells Fargo. Bank of America reiterates Apple as buy Bank of America says its survey checks show App Store growth increasing. Bank of America upgrades Ally Financial to buy from neutral Bank of America said the bank holding company has "credit leverage." Bank of America initiates Frontier a buy Bank of America said the wirelines and cable telecom company has "meaningful potential to outperform."

Persons: Morgan Stanley, Raymond James, Goldman Sachs, Tesla, Goldman, Wells, Wells Fargo, Jefferies, MNDY, Rosenblatt, TeraWulf, TD Cowen, William Blair, Cowen, it's, Wolfe, KBW, DA Davidson, Davidson Organizations: Cisco, Colgate Energy, Resource, Bank of America, Infosys, of America, Barclays downgrades, Express, Barclays, BMO, Realty Trust, Compass, LPL, Nasdaq, Jefferies, RBC, Molson Coors, TAP, Distributors, Google, GE Aerospace, GE, General Electric Company, Apple, Netflix, Frontier Communications, JPMorgan, Eagle Outfitters, Technologies, Steel, Japan's Nippon Steel, Nippon Steel, GOP, Trump, Nvidia Locations: Midland , Texas, Wells Fargo, Freeport, Pittsburgh

☆ Bangalore water crisis: India’s ‘Silicon Valley’ is running dry as residents urged to take fewer showers, use disposable cutlery
▼ + stars: | 2024-03-14 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

As layers of tarmac swept through the city, Bengaluru lost its ability to absorb water, Ramachandra said. One woman begins to hit the vessel to check its water levels. No one sparedWhile the city’s poorest are bearing the brunt of Bengaluru’s water crisis, it hasn’t spared the upper middle class either. Activists and BJP members hold empty water pots during a protest against the state government over the severe water crisis, in Bengaluru on March 12, 2024. Idress Mohammed/AFP/Getty ImagesYet, for the city’s residents, the tit-for-tat arguments mean little as they experience the worst of the shortages.

Persons: ”, Ram Prasat Manohar, Ramachandra, “, Karnataka Raj Bhavan, Arijit Sen, D.K, Shivakumar –, Vishwanathan, Idrees Mohammed, Kumkum, Idress Mohammed, Geeta Menon, hasn’t, India’s, Maher Taj Organizations: India CNN, Infosys, Wipro, Ecological Sciences, Bengaluru –, “, Hindustan Times, Getty, Private, Authorities, Susheela, CNN, Management, won’t, Reuters, Bharatiya Janata Party, BJP, Congress Locations: Bengaluru, India, India’s, Bandepalya, Bengaluru –, Bangalore, ”, Karnataka Raj, Karnataka, Whitefield, AFP

☆ Lightning Round: Commercial Metals is a winner, says Jim Cramer
▼ + stars: | 2024-02-29 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Commercial Metals is a winner, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: SIgnet Jewelers, Equinix, Infosys, Commercial Metals and more.

Persons: Jim Cramer Organizations: Metals, SIgnet, Infosys, Commercial Metals Locations: Equinix

☆ UK PM Sunak Paid More Than 500,000 Pounds in Tax Last Year
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

By Andrew MacAskill and Sachin RavikumarLONDON (Reuters) - British Prime Minister Rishi Sunak paid 508,000 pounds ($641,000) in tax in the last financial year after income from his investments dwarfed his official salary, a report by his accountants showed on Friday. The three-page published summary is the second time that Sunak has published details of his tax affairs since he became prime minister in 2022. The figures show that Sunak made 139,000 pounds from his salary as a member of parliament, finance minister and prime minister between April 2022 and March 2023, and 2.1 million pounds from investments. Of his income from investments, 1.8 million pounds came from capital gains, up from 1.6 million pounds a year earlier. About 70% of the total tax paid by Sunak was due to capital gains tax on the profit made from sales of investments such as stocks.

Persons: Andrew MacAskill, Sachin Ravikumar, Rishi Sunak, Sunak, Evelyn, Piers Morgan, David Milliken Organizations: Sachin Ravikumar LONDON, British, Indian IT, Infosys, Evelyn Partners Locations: Indian, Rwanda

☆ 'The Davos underground': A final take on the secretive parties of the world's rich and powerful
▼ + stars: | 2024-01-31 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +23 min

"That's when you get the good s---," said a Davos attendee who is regularly selected to join the exclusive backroom of the Annual Davos Wine Forum Tasting. Zoom In Icon Arrows pointing outwards JPMorgan took over the Kirchner Museum for its annual drinks event. Zoom In Icon Arrows pointing outwards The attire of the Davos set is decidedly not chic. Zoom In Icon Arrows pointing outwards The color of your conference badge determined access to World Economic Forum events. Zoom In Icon Arrows pointing outwards Skiing and snowboarding post panels and broadcasting was another favorite pastime of some Davos goers.

Persons: bankrolled, Vladimir Putin's, Putin, George Soros, Bill Browder, Anthony Scaramucci, Anthony, Scaramucci, queued, Latour, Donald Trump, —, Mark Milley, Matt Damon, Richard Branson, Andrea Bocelli, Chris Coons, Paul Ryan, bartenders, Champagne Perrier, Chateau Latour, L'Eglise, Burgundy Olivier Bernstein Bonnes, Domaine Comte Georges de Vogue, Tenuta, Casanova di Neri, Stephen King, Browder, Doug Emhoff, Gary Cohn, Ian Bremmer, Sir Martin Sorrell, Sting, Bill Gates, Sam Altman, Marc Benioff, Ray Dalio, Emhoff, Ernst Ludwig Kirchner, Brian Moynihan, IBM's Gary Cohn, Jack Hidary, Sir Richard Moore, Barry Colson, Davos goer, Moritz, Eve, CNBCers, Emmanuel Macron, John Kerry, Joe Short, roundtables, Wyclef Jean, Diane von Fürstenberg, George Osborne, David Rhodes, Osborne, Politico's Suzanne Lynch, Princess Beatrice, David Blaine, Milley —, Tij, CNBC Tij Organizations: Economic, CNBC, Congress Center, Russian, Russian Direct Investment Fund, Moonshot Investor Network, Putin, Hermitage Capital, SkyBridge, White House Communications, Chiefs, Bordeaux Smith Haut, Platz, Politico, IBM, AB InBev, White, Trump, Eurasia Group, Capital, Microsoft, Wall Street, Billionaire Microsoft, Light, Infosys, Bloomberg House, JPMorgan, Kirchner Museum, Financial, Hotel, CNBC CNBC, Bank of America, New, Davos, U.S . Climate, Accenture, Golf Club Davos, Palantir, Chancellor, Sky News's, Sting, Workers, Swiss Army, Army, Gliding Locations: Davos, Switzerland, Soviet, Ukraine, Moscow, Hungarian, Hermitage, Providence, Europe, Davos's, Bordeaux, Bordeaux Smith Haut Lafitte, Bello, Santa Cruz, Napa Valley Tuscany, Schatzalp, Scalettastrasse, Emirates, Halifax, Canada, Salt Lake City, U.S, Palantir, Swiss

☆ How investors are playing emerging market opportunities in India and Japan
▼ + stars: | 2024-01-24 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Investors are increasingly looking to emerging market exchange-traded funds for growth at a reasonable price. David Mann, head of capital markets at Franklin Templeton, named India as one of the most popular countries with ETF investors in the past year. "[It] has been one of the emerging market standouts thus far, so India has been a great story." The firm's Franklin FTSE India ETF (FLIN) has risen 18.19% in the past year, as of Tuesday's close. As of Tuesday's close, the firm's Franklin FTSE Japan ETF (FLJP) gained 12.58% in the past year.

Persons: David Mann, Franklin Templeton, CNBC's, Mike Akins, Akins, Franklin Templeton's Mann, Action's Akins Organizations: Franklin, Franklin FTSE, Reliance Industries, HDFC Bank, Infosys, Toyota Motor, Sony Group, Mitsubishi UFJ Locations: India, Franklin, Franklin FTSE India, Japan, U.S, Franklin FTSE Japan

☆ What the global elite are saying about AI behind closed doors
▼ + stars: | 2024-01-19 | by ( Matt Turner | ) www.businessinsider.com time to read: +8 min

AdvertisementThe annual World Economic Forum just wrapped up in Davos, Switzerland, and talk of artificial intelligence was just about everywhere. AdvertisementPlenty of companies touted their AI wares at the World Economic Forum in Davos this year. Related storiesAt Automation Anywhere, which, as its name suggests, works on automating work, the customer-service team shrank when AI was implemented. Others I spoke to agreed: Many businesses have small-scale AI experiments running, often with promising results so far. These AI projects are expensive, and not every company has the financial or human capital to pursue an ambitious AI strategy.

Persons: Matt Turner, —, Sam Altman, Rob Goldstein, copilots, Jason Girzadas, he'd, Oliver Wyman, Deb Cupp, Mihir Shukla, Ana Kreacic, Shukla, Becky Frankiewicz, Lareina Yee, WEF, Satish H.C, Mustafa Suleyman, DeepMind, Kapilashram, Azeem Azhar, Dan Vahdat Organizations: Economic, Service, Tech, Infosys, IBM, Builder.ai, Cisco, Qualcomm, Salesforce, BlackRock, Deloitte, Microsoft, Oliver Wyman Group, Standard Chartered, McKinsey, Huma Therapeutics Locations: Davos, Switzerland

The hefty Davos promotions come after India surpassed China last year as the world's biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world's richest and most powerful people. "As China's economy slows down, India's relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots." "We had an all-time revenue record in India," Apple CEO Tim Cook said on the company's latest earnings call in November, in response to an analyst's question about the company's momentum there. Hidary said Indian billionaire Mukesh Ambani's smartphone company Jio will serve about 600 million people in India through a $12 device.

Persons: There's, Ravi Agrawal, Agrawal, Narendra Modi, that's, Tim Cook, Apple Tim Cook, Punit Paranjpe, Jack Hidary, Hidary, Mukesh, Ambani Organizations: India Engagement, Wipro, Infosys, Tata, Foreign Policy, CNN, CNBC, World Bank, International Trade Administration, Visual, Bank of India, Dell, HP, Lenovo, Apple, AFP, Getty, India, AMD, Nvidia, Micron, WEF Locations: DAVOS, Switzerland, Davos, India, China, CNN India, Maharashtra, Tamil Nadu, Telangana, Karnataka, U.S, Mumbai, Bangalore, Gujarat

☆ Infosys has done a 'huge' amount of work to become a net-zero company, says CEO
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInfosys has done a 'huge' amount of work to become a net-zero company, says CEOInfosys CEO Salil Parekh discusses the company's involvement in the green transition and its sustainability efforts.

Persons: Salil Parekh Organizations: Infosys

☆ Everyone's buzzing about AI — including plenty of people who clearly don't understand it
▼ + stars: | 2024-01-17 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +4 min

BINigel Vaz, CEO of Publicis Sapient, a consulting firm, compares the buzz around AI to the early days of the internet. BINela Richardson, chief economist at ADP, told BI there's a big learning gap on what constitutes AI. Much of what is being called "generative AI" has been around for decades, while much of what workers think is AI is actually automation. Similarly, Guru Gowrappan, CEO of ViaSat, a communications operator, says many companies are just talking about AI at Davos — but not actually doing much with it. And some of them are just recategorizing what they were doing to call it AI," he tells BI.

Persons: —, I've, Davos — I've, Sheila Warren, there's, Warren, Nigel Vaz, Publicis, Vaz, Bain, Nela Richardson, Richardson, Ivana Bartoletti, Guru Gowrappan, Gowrappan Organizations: Service, Economic, Business, Davos —, Crypto, VR, Infosys, IBM, Accenture, Consulting, ADP, Wipro, ViaSat, Davos Locations: Davos

☆ ‘A year of volatility’: Morgan Stanley names its top stocks as India prepares to head to the polls
▼ + stars: | 2023-11-28 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

The investment case for India is hard to argue with, according to analysts at Morgan Stanley — but they warn that upcoming elections with "potential binary outcomes sets the market up for volatility." "Government policy remains supportive, and the RBI (Reserve Bank of India) executes a calibrated exit from its current hold stance. For Morgan Stanley, the downside, or bear case, to its forecast would see India's elections result in a change in government. Focus list of overweight-rated stocks Looking ahead to India in 2024, Morgan Stanley is overweight on companies in the financials, consumer discretionary, industrials and technology sectors. From the financial services sector, Morgan Stanley is overweight on ICICI Bank and insurer SBI Life Insurance .

Persons: Morgan Stanley —, Ridham Desai, Narendra Modi, Morgan Stanley, — CNBC's Michael Bloom Organizations: Bombay Stock Exchange, Reserve Bank of India, International Monetary Fund, Maruti Suzuki, Hindustan Aeronautics, Infosys, ICICI Bank, SBI Life Insurance Locations: India, U.S, Government, F2026E

☆ How T-Mobile is taking a leading role in the 5G revolution
▼ + stars: | 2023-11-09 | by ( Sponsor Post | Created Insider Studios With T-Mobile | ) www.businessinsider.com time to read: +6 min

T-Mobile's nationwide standalone 5G network helps power these efforts. The common thread of these varied scenarios might surprise you: 5G, the "fifth generation" of wireless network technology. T-Mobile is the only provider of a standalone nationwide 5G network, putting it in a prime position to shake up that paradigm in the US. Uses for all industriesT-Mobile's 5G technology can be applied across all industries, for an ever-expanding number of use cases. Find out more about how T-Mobile's 5G technology is powering change across industries.

Persons: —, Parvin Mahajan, Mahajan, Heather Nelson, Rod Laver, Will Townsend, Organizations: Mobile, Children, Boston Children's Hospital, Drivers, Infosys, Rod Laver Arena, Insider Studios Locations: Bellevue , Washington

REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsBENGALURU, Nov 9 (Reuters) - Wipro (WIPR.NS) may skip giving hikes to "top performers with higher compensation" in its largest business line in the upcoming round of salary revisions in December, according to an internal memo seen by Reuters. Wipro will prioritise employees with lower compensation among those eligible for a raise, Bandaru highlighted, adding that "top performers with higher compensation may not be covered in this cycle". Wipro, which had 244,707 employees as of Sept. 30, had already delayed its salary hike cycle. Some industry watchers said the move echoed a larger trend in the tech industry as it tried to address pay inequities among regions and cut payroll costs. While Infosys (INFY.NS) delayed giving hikes by two quarters, HCL (HCLT.NS) skipped hikes for managers.

Persons: Dado, Peter Bendor, Samuel, Ray Wang, Sai Ishwarbharath, Haripriya Suresh, Dhanya Skariachan Organizations: Wipro, REUTERS, Rights, Reuters, Employees, Wipro Enterprise, Everest Group, ”, Infosys, HCL, Thomson Locations: Bengaluru

REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsBENGALURU, Nov 7 (Reuters) - Wipro (WIPR.NS), India's fourth-largest IT services provider, is mandating that all its employees globally work from office at least thrice a week from this month, according to a company-wide email seen by Reuters on Tuesday. 2 software services exporter, asked some employees to return to office 10 days a month, while industry leader TCS (TCS.NS) has asked employees to return to the office for five days a week. Wipro has been encouraging employees to work from office thrice a week since May and about 55% of the workforce are currently working from office at that frequency, a company spokesperson said. Wipro had 244,707 employees as of Sept. 30. Starting Jan. 7 next year, consistent defaulters may face consequences, according to the email dated Nov. 6.

Persons: Dado, Sai Ishwarbharath, Varun, Savio D'Souza Organizations: Wipro, REUTERS, Rights, Reuters, Companies, Infosys, TCS, Varun Vyas, Thomson Locations: Bengaluru

☆ India debate on 70-hour workweek: Illegal or road to greatness?
▼ + stars: | 2023-11-07 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +2 min

Indians currently work an average of 47.7 hours a week, according to the International Labour Organization. Infosys founder Narayana Murthy recently sparked a controversy on social media when he said young people should be working 70 hours a week to boost India's economy. If we want to achieve greatness, then yes, those are the number of hours and the kind of sacrifices we must make," Kapoor said. Our youngsters must say: 'This is my country, I want to work 70 hours a week,'" he said during a podcast with Indian philanthropist T.V. He told CNBC that "70 hours just sounds like a very high number.

Persons: Narayana Murthy, Ayushmaan Kapoor, Kapoor, Murthy, Rishi Sunak, T.V, Mohandas Pai, Vivek Mudaliar, Mudaliar, wouldn't Organizations: International Labour Organization, Infosys, CNBC, U.S, UK, Reliance Industries, DBS Bank, HSBC Locations: India, China, U.S, Germany, Singapore, Japan

☆ India's Infosys says US unit hit by cyber security event
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: 1 min

The Infosys logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsBENGALURU, Nov 3 (Reuters) - Indian IT service provider Infosys (INFY.NS) said on Friday its U.S. unit, Infosys McCamish Systems, was impacted by a cyber security event, resulting in the non-availability of certain applications and systems. The company said it is working with a cyber security company to resolve the issue and that it had launched an investigation to identify the potential impact on systems and data. Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Savio D'Souza Organizations: Infosys, REUTERS, Rights, Indian IT, Infosys McCamish Systems, Sethuraman NR, Thomson Locations: Toronto , Ontario, Canada, Indian, Bengaluru

☆ Infosys asks some workers to return to office 10 days a month: source
▼ + stars: | 2023-11-01 | by ( Dhanya Skariachan | ) www.reuters.com time to read: +1 min

The Infosys logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsNov 1 (Reuters) - India's No.2 software-services exporter Infosys Ltd (INFY.NS) has asked some of its employees to work from office 10 days a month, a source familiar with the matter said on Wednesday. Narayana Murthy courted controversy by urging young Indians to work 70 hours a week for the development of the country. Larger rival Tata Consultancy Services (TCS.NS) has already asked workers to return to the office for five days a week. Tech giants Amazon.com Inc (AMZN.O) and Alphabet Inc's (GOOGL.O) Google have also told workers to work from office for at least a few days every week.

Persons: Chris Helgren, Salil Parekh, N.R, Narayana Murthy, Dhanya Organizations: Infosys, REUTERS, Tata Consultancy Services, Tech, Amazon.com Inc, Google, Thomson Locations: Toronto , Ontario, Canada

☆ Cognizant forecasts quarterly revenue below estimates on weak corporate spending
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

The Teaneck, New Jersey-based company expects current-quarter revenue between $4.69 billion and $4.82 billion, compared with market estimates of $4.86 billion, according to LSEG data. Indian IT services giants Infosys (INFY.NS) cut the upper end of its annual revenue forecast earlier in Oct, raising concerns about near-term demand, while Tata Consultancy Services (TCS.NS) reported weaker-than-expected quarterly revenue. The company expects annual adjusted profit per share in the range of $4.39 to $4.42, from its prior estimate of between $4.25 and $4.48. Revenue for the third quarter stood at $4.90 billion, slightly below estimates of $4.91 billion. The company reported a profit of $1.04 per share, compared with $1.22 per share a year earlier.

Persons: Dado Ruvic, Cognizant, Jan Siegmund, Jaspreet Singh, Anil D'Silva Organizations: REUTERS, Technology Solutions, Wall, Infosys, Tata Consultancy Services, Accenture, Thomson Locations: Teaneck , New Jersey, Bengaluru

☆ Billionaire businessman says young Indians should work 70 hours a week
▼ + stars: | 2023-10-28 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Narayana Murthy said young Indians should work 70 hours a week. I want to work 70 hours a week," N.R. But Indians already work some of the longest hours of any nationality, averaging around 47.7 hours per week per employed person, according to the ILO. In a post on X, formerly known as Twitter, tech entrepreneur Vishal Gondal wrote: "Respectfully, Narayana Murthy ji, while hard work is crucial, a 70-hr work week may risk burnout and stifle creativity." Respectfully, Narayana Murthy ji, while hard work is crucial, a 70-hr work week may risk burnout and stifle creativity.

Persons: N.R, Narayana Murthy, —, Mohandas Pai, Murthy, Forbes, Pai, Vishal Gondal Organizations: Infosys, Service, T.V, International Labour Organization, ILO, India, United, Emirates Locations: India, Qatar, Congo, Lesotho, Bhutan, Gambia

☆ Infosys’ billionaire founder says Indians need to work 70 hours a week to succeed
▼ + stars: | 2023-10-27 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —One of India’s most revered entrepreneurs believes that young people need to put in exceptionally long hours at work if they want to see the country become a global economic powerhouse. Narayana Murthy, co-founder of the software behemoth Infosys, said India needs “highly determined, extremely disciplined and extremely hardworking” youngsters, who should put in 70 hours a week at work. Murthy, whose wealth is estimated at over $4 billion by Forbes, co-founded Infosys in 1981. “India’s work productivity is one of the lowest in the world.”He added that Indians should learn from policies that helped other emerging markets, particularly China. Over the past few years, several surveys have shown that Indians feel they are among the most overworked and underpaid people in the world.

Persons: Narayana Murthy, “, ” Murthy, Mohandas Pai, Murthy, Rishi Sunak, they’ve Organizations: New, New Delhi CNN, Infosys, YouTube, Forbes, British, International Monetary Fund, CNN Locations: New Delhi, India, China, United States

☆ India's Tech Mahindra posts biggest profit fall in 16 years
▼ + stars: | 2023-10-25 | by ( Manvi Pant | ) www.reuters.com time to read: +2 min

BENGALURU, Oct 25 (Reuters) - India's Tech Mahindra (TEML.NS) on Wednesday posted its biggest fall in profit in over 16 years as expenses mounted and clients tightened spending amid a tough macroeconomic environment. Tech Mahindra's net profit for the quarter fell 61.6%, its worst performance since March 2007. Consolidated revenue from operations fell 2.02% year-on-year, while expenses rose nearly 7%, led by a 30% jump in "other expenses." "Near-term demand environment remains challenging as the telecom sector, on which Tech Mahindra has a high dependence remains stressed," said Piyush Pandey lead analyst, Yes Securities. Shares of Tech Mahindra closed 1.2% lower ahead of results, with trade volume just shy of three-quarters of the 30-day average.

Persons: Piyush Pandey, Manvi, Varun Organizations: India's Tech Mahindra, Tata Consultancy Services, Infosys, Tech, Consolidated, Tech Mahindra, Yes Securities, Thomson Locations: BENGALURU, dealmaking, U.S, Europe, EBIT, Manvi Pant, Bengaluru

☆ Citi says buy this information technology stock with more than 20% upside
▼ + stars: | 2023-10-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

The bank upgraded shares of the information technology and consulting firm to buy from neutral, accompanied by a raise in price target to $80 from $72. Analyst Ashwin Shirvaikar noted that while the stock has done well this year, it remains attractive. CTSH YTD mountain CTSH YTD chart Shirvaikar thinks Cognizant's growth outlook seems promising for the year ahead as the company's bookings momentum grows. The firm's emphasis on greater management outreach, employee engagement and cost competitiveness have all contributed to Cognizant's abilities to accelerate the rate of its deal bookings. Meanwhile, the analyst noted that Cognizant seems well-equipped to offset the margin pressure that often comes with large deal bookings momentum.

Persons: Ashwin Shirvaikar, Cognizant, Shirvaikar, Ravi Kumar S, — CNBC's Michael Bloom Organizations: Citi, Cognizant, Infosys Locations: 3Q23

☆ India's Cyient beats Q2 revenue estimates on sustainability, transport demand
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 19 (Reuters) - India's Cyient (CYIE.NS) on Thursday reported a bigger-than-expected rise in its second-quarter revenue on strong growth in sustainability and transportation segments. The company's consolidated net profit saw an over two-fold rise to 1.78 billion rupees in the September quarter from a year earlier. Revenue from its biggest digital, engineering and technology segment rose 22% to 14.76 billion rupees during the quarter. Revenue from the sustainability business rose nearly 72%, while the transportation segment saw a growth of 22%. Cyient's revenue growth was stronger compared with its larger peers.

Persons: Kashish Tandon, Mrigank Organizations: Revenue, Tata Consultancy Services, Wipro, Infosys, DLM, Thomson Locations: BENGALURU, Bengaluru

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