Business updates

Business updates

TCS rolls out 4.5-7% salary hike for 80% staff after largest-ever layoffs

TCS had announced its largest-ever layoffs, trimming about 2% of its workforce, in July, after deferring its usual April salary hikes citing “skill mismatches”.>

Urban Company, boAt among 13 firms to get SEBI nod to launch IPOs

Urban Company and Aman Gupta's boAt are looking to raise ₹1,900 crore and ₹2,000 crore from their respective IPOs.>

Sensex, Nifty 50 reverse gains to end lower. Why was stock market down today?

The slide stems from expiry-driven unwinding in financial stocks, which dominate the Nifty 50, even as investors awaited GST reforms.>

GST panel calls for higher tax on luxury electric cars, in blow for Tesla, BYD

The panel has recommended 18% GST rate on electric cars priced between ₹20 lakh and ₹40 lakh and 28% on those costing more from 5% at present.>

Semicon India 2025: India to start commercial chip production this year itself, PM Modi says

India is currently developing 10 semiconductor projects worth $18 billion in investments, including two new 3-nm design facilities in Noida and Bengaluru.>

From Shree Renuka Sugars to Balrampur Chini, sugar stocks rally after India removes ethanol production curbs

India, the world's second-biggest sugar producer, had restricted ethanol production in the current marketing year, because of a drop in sugarcane supplies.>

Tesla India debut underwhelms with just 600 bookings against 2,500 sales target

Tesla plans to ship 350-500 cars to India this year, each of which costs more than ₹60 lakh as against ₹22 lakh average price of an electric car in India.>

Reliance stand to gain the most from China's solar power churn: Morgan Stanley

Reliance is building out a fully integrated solar supply chain in India at a time when overcapacity is forcing China to rationalise its poly-silicon production.>

View | For Mukesh Ambani's Reliance Industries, it’s all hands on deck

Reliance Industries' share price shows investors are sceptical of Ambani’s pledge to transform into “deep-tech company”, writes Bloomberg's Andy Mukherjee.>

How Nestle CEO Laurent Freixe's affair with junior colleague was exposed, led to his dismissal

Nestle has fired its CEO Laurent Freixe after an investigation into his “undisclosed romantic relationship” with a subordinate>

Credits : HTimes