Business News Archives - Page 2 of 3

Suhail Sameer resigns as CEO of BharatPe, and Nalin Negi takes over as interim CEO

Suhail Sameer, the CEO of BharatPe, has resigned. The business has provided information about this. After co-founder Ashneer Grover was fired last year, the firm claimed in a statement that Sameer has been in charge of running the business and is now preparing to retire.

After a significant change in leadership ranks, Sameer will now take on the responsibilities of Chief Strategy Officer. With effect from January 7, 2023, Suhail Sameer will transition from Chief Executive Officer to Strategic Advisor, according to a statement released by BharatPe.

The company’s existing CFO, Nalin Negi, has been named the temporary CEO to work with top executives, according to the announcement.

BharatPe also disclosed that the business has employed an “executive search firm” to aid in succession planning and in the hunt for a new CEO.

Inflation has come down since two months, hope of getting relief from rising home loan and EMI

The inflation rate in India has been falling over the past two months. The cycle of policy rate increases is set to come to a stop as November’s retail inflation rate dropped to 5.88%. In research released on Monday, economists from SBI, the largest bank in the nation, provided this information.

The RBI is in charge of controlling inflation between 2 and 6 percent. According to economists, the retail inflation data for November is positive for putting a halt to the cycle of policy rate increases.

The RBI‘s strong monetary policy approach, according to the research, might aid in bringing domestic inflation under control. It has been said that the Federal Reserve, America’s central bank, may need to raise the policy rate until the country’s inflation is under control. This will result in more capital leaving emerging markets. The currency rate will fluctuate, and the value of the rupee will decrease.

However, according to experts, between December 2022 and January 2023, the headline inflation rate might increase once again to 6.5 to 6.7 percent. While it is anticipated to drop further to 5% by March 2023.

Repo rate increased 5 times

To combat inflation, the central bank has raised the policy rate repo by 2.25 percent five times since May. In its monetary policy review from last week, the Reserve Bank forecast that inflation would fall to 6% in the quarter between January and March.

HP will also lay off employees after Amazon and Twitter, expected to cut 6,000 jobs by the end of 2025

Around the world, there is a wave of layoffs in the tech industry. Another significant tech company has opted to lay off employees, following Twitter, Meta, and Amazon. HP Inc., a manufacturer of electronics and laptops, is predicted to axe around 6,000 jobs.

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The company won’t be firing everyone at once, which is a comfort. Instead, this round of layoffs could last until the end of 2025. The corporation will reportedly reduce its global workforce by around 12% as a result of this downsizing.

PC and printer major #HP Inc is joining the ongoing tech layoff season and will lay off nearly 4,000-6,000 employees. pic.twitter.com/35DmXGjlvO
— IANS (@ians_india) November 23, 2022

Layoffs will continue till 2025

There are now about 50,000 employees working for HP Inc. Approximately 4,000 to 6,000 employees will be laid off by the company over the next few years. The company’s decision to announce the layoffs while presenting its financial year 2022 report is unique. “The corporation intends to lay off 4,000–6,000 workers. By the end of 2025, the retrenchment process is anticipated to be finished “The declaration said.

Declining sales are the reason

Company sources claim that during the Corona outbreak, sales of HP’s laptops and computers increased significantly. However, as the school offices reopened following the pandemic, PC and laptop category sales once more stagnated. The corporation has decided to eliminate positions due to the fast declining sales.

Inflation and recession

One of the main causes for layoffs by businesses can also be concerns about inflation and a worldwide economic collapse. Given these circumstances, HP Inc. is anticipated to report lower-than-expected first-quarter profits due to sluggish demand. Although the corporation has not yet specified when this layoff will begin in India and other international markets.

(Input – IANS)

Sensex fell by about 400 points, know the condition of the global market

With a bang, the stock market began trading. The Sensex increased by 107 points to 61858, the Nifty by 39 points to 18383, the Bank Nifty by 87 points to 41545, and the Nifty Midcap 100 by 90 points to 31162 during the final trading session of the week. Open to the degree that The shares of Asian Paints are soaring as a result of the drop in the price of crude oil. It presently has the highest gain of 1.12%, making it the top gainer. Additionally rising are the shares of Berger Paints, Nerolac Paints, and Indigo Pets.

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Sensex is down by nearly 400 points

The stock market has lost about 400 points as a result of the reduction in shares of Mahindra & Mahindra, Bajaj Finance, Bharti Airtel, and IndusInd Bank. The Sensex was down 360 points at a level of 61393 as the clock struck noon. Nifty had dropped 109 points to a level of 18234 at that point.

Condition of the global market

The price of crude oil is under pressure on the global market. WTI crude is currently trading at $82.5 per barrel, while Brent crude is almost at $90. In the early going, shares of Asian Paints, Axis Bank, and Infosys are up. Stocks like Mahindra & Mahindra, Maruti, and Titan are down. Regarding the global market, the American market rebounded from its low points, the Dow Jones gained 300 points, and it closed unchanged.

The first trading day of the Indian stock market opened with a green mark, there was a boom in the global markets

The Indian stock market has had a wonderful opening trading day of the week so far. The market started the day’s trading session near the green level and ended it there as well. The Indian markets experienced some volatility earlier on Friday throughout the day’s activity, but the market closed in the green.

The Nifty concluded at 17,525.10 points with a gain of just 127.60 points or 0.73 percent, while the Sensex of the Mumbai Stock Exchange closed at 58,853.07 points with a gain of roughly 465.14 points or 0.80 percent.

Indian stock indices start a fresh week on a steady note

Read @ANI Story | https://t.co/xx3VG5eGBG #BSE #NSE #Sensex #NIFTY #Inflation #StockMarket pic.twitter.com/u4BGDge5fm
— ANI Digital (@ani_digital) August 8, 2022

The Indian market opened with tremendous momentum earlier in the day. The 30-point Sensex opened today’s trading session at 58,417.71, up 29.78 points, or 0.051 percent, while the 50-point Nifty opened at 17,401.50, up 4.00 points, or 0.023 percent. The market is consistently in a positive trend.

Global markets boom

When it comes to the global market, America appears to be re-entering it now. This week has been strong for the US market. On the other side, investors expect inflation to decline after the Fed Reserve raises interest rates, therefore they are aggressively betting in the market. As a result, the NASDAQ, one of the main stock exchanges in America, has increased by 0.41 percent in the most recent trading session.

The stock of LIC is currently declining. After Friday’s increase, it is now providing a drop on Monday. LIC shares fell today and ended the day at 679.70.

Share Market Live Updates: Stock market crashes immediately upon opening, the Sensex drops below 53 thousand

Stock Market News: After the weak signals from the global market, a declining trend was seen in the Indian stock market. On the first trading day of the week, the 30-point Sensex opened with a fall of more than 1100 points at 53,184.61 points. While the 50-point Nifty fell more than 300 points and opened at the level of 15,877.55. Red marks were seen on all 30 Sensex stocks during the pre-open session.

Sensex reached below 53 thousand

Shortly after the opening of the stock market, a fall of 1443 points was seen in the Sensex and it fell to 52,860 points below 53 thousand. Similarly, at around 9.30, the Nifty fell by 421 points to the level of 15,780.70. Only Cipla’s share was seen in the top gainers of Nifty. Talking about the top losers, there were Hindalco Services, Bajaj Finance, Bajaj Fin Services, Kotak Bank, and IndusInd Bank. In today’s trading session in the stock market, selling is being seen in almost all the sectors on Monday.

In today’s trading session, buying is being seen in 494 shares and there is a sell-off period in 2030 shares. Apart from this, no change is being seen in 100 shares.

US market also down

On the other hand, there was a decline in the global market as well. In Friday’s trading session, the US market was badly broken and the Dow Jones closed at the day’s low by breaking 880 points. The Nasdaq saw a decline of 3.5 percent. All 11 sectors, including IT, banks, and consumer stocks, were under selling pressure. Apart from this, the European and Asian markets also saw a decline.

Stock market falls sharply, Nifty and Sensex open on a negative note

Due to the continuous bad signals from the global market, the Indian stock market opened again today with a fall. On Thursday, May 12, the 30-point Sensex is trading at 53,320.83, down 867 points. While the 50-point Nifty opened at the level of 210 points 15,956.45. Many stocks have collapsed in early trading. In such a situation, there is only a possibility of a decline in the trading session of the day.

The banking sector has given good returns in some trading sessions, so the eyes of the investors will remain on this sector. The rupee, meanwhile, is also declining. The Indian rupee has declined by 23 paise to 77.46.

Earlier on Wednesday, Sensex slipped 276.46 points to close at 54088.39 after the day’s volatility, while Nifty lost 72.95 points to close at 16167.10. However, the shares of the banking sector were seen in good condition. In yesterday’s trading session, there were times when the Nifty was on the surface of going below 16,000. But the banking sector saved its strong support level.

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Market LIVE Updates: The stock market continues to fall, Sensex slips more than 400, Nifty below 18000

Today, the stock market opened with a decline on the second trading day of the week or Tuesday. Mumbai Stock Exchange (BSE)’s major index Sensex and National Stock Exchange (NSE)’s Nifty both fell heavily. On the BSE Sensex, 419.18 points (0.71 percent) broke down at 58545.39. On the other hand, the Nifty of NSE moved down by 123.00 points (0.70 percent) and opened at the level of 17552. This was the condition of the giant stocks at 9:45 am:

Keeping an eye on the sectoral index

In this period, the biggest fall happened in Nifty Metal. It fell 2.29 per cent. Apart from these, Nifty Bank, Auto, Finance Service, FMCG, IT, Media, Pharma, PSU Bank, Private Bank, and Realty are also trading on the red mark.

Global market condition

The US markets closed with a decline according to international markets. The European markets showed mixed trends. The Dow Jones lost 1.19 per cent, the S&P 500 lost 1.69 per cent, the Nasdaq lost 2.18 per cent, the FTSE 100 lost 0.67 per cent, and the DAX lost 0.64 per cent. The CAC 40, however, gained 0.12 percent.

TCS net profit up 7.4 per cent in Q4

The largest software exporter in the country, Tata Consultancy Services (TCS), had revenues exceeding Rs 50,000 crores for the first time during the fourth quarter ended March 2022. In FY 2021-22, the company’s net profit rose 7.4 per cent to Rs 9,926 crore in the fourth quarter (January-March). After this, the company’s stock is rising today. As of the time of writing this story, its share price stood at 3713.95, up 17.55 points. The company’s market capitalization stands at Rs 13,59,264.40 crore at present.

Share Market Today: stock market speed up, Sensex crosses 59,900, Nifty above 17800

As a result of the strong international market, the domestic stock market started trading well on Monday, April 4, the first day of this trading week. Nifty and Sensex are both in the green today. At the opening of today’s trading session, the Sensex reached 59,764 and exceeded it as soon as it surpassed 59900. Similarly, the Nifty started at 17,809, and Nifty crossed the level of 17900 in the initial trade.

The Sensex is currently trading at 60290, up 1013 points or 1.71 percent. Nifty is trading at 17935.85, a jump of 265.40 points or 1.50 percent.

A total of 1966 stocks started trading today on the BSE, of which 1520 opened with gains and 323 opened with losses. The share prices of 123 companies opened without changing. As of today, 75 shares are trading at 52-week highs and 4 shares are trading at 52-week lows. Since morning, 208 shares have been trading upper circuit and 48 shares have been trading lower circuit.

As the market opened today, news broke that HDFC and HDFC Bank would merge. HDFC shareholders will receive 42 shares in HDFC Bank. Due to the news of the merger, HDFC and HDFC Bank have seen a strong increase in share prices. HDFC Bank is experiencing its biggest trading boom in two years.

A sharp rise in the stock market marked the end of the first day of the new financial year. The BSE Sensex closed 708 points higher at 59,277, while the NSE Nifty index closed 205 points higher at 17,670.

Share Market Today: The rise in the stock market, Sensex up by more than 200 points, Nifty near 17300

Despite the last 34 days of war between Russia and Ukraine and the rise in crude oil prices, the stock market around the world continues to fluctuate. In India, this is also affecting the stock market. As we begin our second trading week, Indian stock markets are booming. The Sensex opened today with a jump of 209 points at 57,803 levels. The Nifty began trading at 17285 levels with a gain of 63 points.

Today, a total of 1,479 stocks started trading on the BSE, out of which 899 opened up for trading, and 474 fell. At the same time, 106 companies opened their shares without increasing or decreasing. Currently, 48 shares of the company are trading at 52-week highs and 6 at 52-week lows. 83 shares have a higher circuit since morning, while 93 shares have a lower circuit.

Except for the metal, media, and oil and gas sectors, all other sectoral indices are trading with a bullish trend today. Business is good for financial, auto, and bank stocks. All three Nifty indices are up around half a percent. The IT, Pharma, Metal, FMCG, and Realty indices are also in the black.

Monday’s closing price of the Sensex was 57,593 with a gain of 231 points, while the Nifty was 17,222 with a gain of 69 points.