Page 4 - It Sector News Today

FY24 marks the second ever full year decline in headcount for Tech Mahindra, which was down by 6,945. The IT company had previously reported a full-year headcount drop in FY18.

Power sector received the highest inflow from foreign investors, who bought shares worth ₹5,143 crore after buying ₹45 crore in March. In 2023, the sector witnessed inflows worth ₹2,477 crore. With the government expected to boost the countrys power capabilities as part of its ambition to make India into a manufacturing hub, the focus is on the companies that will benefit from the revival of the sector.

Indias IT industry is rebounding with a rise in contractual hiring, signaling recovery after layoffs and reduced bench strength. Staffing firms note increased demand for temporary contracts as companies prepare for future growth.

FPIs: Fast moving consumer goods witnessed a shift in sentiment from foreign investors as they turned net sellers in the sectors worth ₹4,351 crore after buying shares worth ₹6,241 crore in March. Consumer durable and oil & gas sectors also saw foreign selling worth ₹1,624 crore and ₹923 crore, respectively.

India News: Y S Jagan envisions Visakhapatnam as a key player in Andhra Pradesh's growth, competing with major cities. He emphasizes the IT sector, opposition cha

Pashupati Advani expresses concerns about the IT sectors changing business models and the potential dominance of big American companies in AI. He is optimistic about the growth in the infrastructure sector, particularly for construction and cement companies benefiting from various projects. Advani says: "If you have moved into some good, profitable government companies over the last six months, you have done very well and that is where we should continue to go even now."

India Business News: NEW DELHI: Foreign portfolio investors (FPIs) have recently become net sellers in Indian stocks as they cumulatively sold stocks worth Rs 5,254 crore,.

In the fiscal year 2023, the residential property market experienced an unprecedented surge, witnessing a record-breaking Rs. 3.47 lakh crore (US$42 billion) in transactions, marking a robust 48 per cent year-on-year increase in home purchases. ​

Wipro reported a second consecutive year of headcount decline on April 19, which was down by 24,516.

Stocks for first time investor: Many individuals wanting to create wealth from stock markets have opened demat accounts. However, for those beginning their stock market journey, it is quite difficult to find the right sector or categories to bet on. ET Wealth asked the experts which sectors and categories, the first time stock market investors can invest in.