BUSINESS
TCS, Wipro among top ITeS players of 2020, American companies lead in product category
The report talks about emerging trends within the ITeS space such as adoption of work from home technologies, inclusion of cloud offerings and the strong lineup of acquisitions & partnerships that were witnessed during the year. An analysis of the announcements by top players reveals that the pandemic has successfully reversed the traditional outsourcing trend in this industry and given rise to destination hiring as a popular practice.
Pharma sector revenue, margins likely to remain healthy in FY2022: ICRA
The revenue growth in FY2022 is expected to be slightly better at 8-11 per cent, though lower incidences of acute diseases, lesser OPDs and elective surgeries may continue to have some bearing on growth and will depend upon the course of the pandemic, the report added.
iPhone shipments to hit record quarter with 21% growth: Report
Record iPhone shipments for the fourth quarter will be driven not only by North America but also India, China, Japan, and countries in Europe, said the report. These include pent up demand for a new 5G iPhone with both operators and consumers hungry for the new iPhone products, attractive prices on the iPhone 12 aided by bountiful promotional offers.
Essar Projects wins over $62 mn contract in Papua New Guinea
The contract was won via an international competitive bidding route following a stringent multi-stage short listing and approval process. EPPNG has emerged as Papua New Guinea's preferred partner for over a decade now for creating world class infrastructure and enjoys grand support from the local citizens as well.
Indian firms see a silver lining in Cloud in pandemic-hit year
For Cloud players, the year offered a great opportunity to sell their scalable and secure Cloud-based solutions while keeping data within the territories of the country. According to an IDC survey that came out in November, more than 60 per cent of the Indian organisations plan to leverage Cloud platforms for digital innovation, as the firms re-strategise their IT spending plans as a result of Covid-19.
Cairn Energy wins arbitration award against India in tax dispute, Govt to mull next move after studying the verdict
British energy major Cairn Energy has won an international arbitration case against the Indian government over a tax dispute. The international arbitration tribunal ruled that India's tax claim of Rs 10,247 crore in past taxes over internal reorganisation of Cairn's India business was not a valid demand.
TikTok's Indian clone Josh app raises $100 million from Microsoft, Google
After the Indian government decided to ban TikTok amidst the India-China standoff in Ladakh, the number of short-video platforms in the country shot up in no time. This scenario created a void in the huge market of short-video based platforms and attracted global investors to pour in money on the home-grown apps.
No change in petrol, diesel prices for 16th consecutive day
The pump price of petrol remained at Rs Rs 83.71 a litre and diesel Rs 73.87 a litre in Delhi on Wednesday. Across the country as well, the price of the two petroleum products remained unchanged. OMCs have gone on a pause mode at a time when news of successful coronavirus vaccine and expectations of big pick up in demand had kept crude on the boil with prices breaching $50 a barrel mark.
Reliance biggest wealth creator in past 25 years: Report
IT major Infosys has turned out to be the fastest wealth creator during the 25-year period, while Kotak Mahindra Bank has been the most consistent wealth creator since 1995, showed the Motilal Oswal 25th Annual Wealth Creation Study 2020.. The study also revealed that the consumer or the retail sector was the largest wealth creating sector during the period under review.
Equity indices in green, Sensex up 200 points
Around 10.25 a.m., Sensex was trading at 46,206.80, higher by 200.11 points or 0.43 per cent from its previous close of 46,006.69. It opened at 46,072.30 and has touched an intra-day high of 46,238.44 and a low of 45,899.10. The Nifty50 on the National Stock Exchange was trading at 13,529.50, higher by 63.20 points or 0.47 per cent from its previous close.
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