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MUMBAI: IT major Tech Mahindra has said it sees a growth in the headcount going forward and expects 5,000 freshers to join its workforce by June this year. The Mahindra Group company had an employee base of over 1.21 lakh as of December 31, 2020 and the utilisation had stood at an all-time high of 87 per cent. The way to look at it is that we will see headcount growth going forward, its Chief Financial Officer Manoj Bhat told analysts over a call recently. Our plan now is our campus recruitment programme has already started recruiting this quarter and over the next two quarters, we expect about 5,000 people to join. So I think on all fronts we are adding capability and talent, he added.
Daily Market Commentary - Feb 1, 2021 - Bonanza Portfolio
Posted On:
Mr Vishal Wagh, Research Head
Indian equity benchmarks made a positive start on Monday ahead of Union Budget to be presented by Finance Minister Nirmala Sitharaman later in the day. Markets are trading higher with decent gains in early deals. Buying in Bankex, Oil & Gas and Energy counters are supporting the domestic indices. In the afternoon session, Indian equity benchmarks continued to trade positive, bulls has taken charge on Dalal Street, as investors have given big thumbs up to Budget 2021-22. Both Sensex and Nifty are trading around 48,600 and 14,254 levels.
Information Technology stocks were trading with losses, with the S&P BSE IT Sector index falling 437.11 points or 1.68% at 25515.04 at 13:48 IST. Among the components of the S&P BSE IT Sector index, Wipro Ltd (down 3.87%), Tata Elxsi Ltd (down 3.66%),L&T Technology Services Ltd (down 3.16%),Aptech Ltd (down 3.05%),Brightcom Group Ltd (down 2.75%), were the top losers. Among the other losers were Firstsource Solutions Ltd (down 2.74%), Tech Mahindra Ltd (down 2.62%), Cyient Ltd (down 2.61%), Sonata Software Ltd (down 2.58%), and Birlasoft Ltd (down 2.56%). On the other hand, Datamatics Global Services Ltd (up 5.62%), 3i Infotech Ltd (up 4.95%), and Majesco Ltd (up 4.93%) moved up.
At 13:48 IST, the S&P BSE Sensex was down 505.47 or 1.07% at 46904.46.
Read more about Information Technology shares gain on Business Standard. Information Technology stocks were trading in the positive zone, with the S&P BSE IT Sector index rising 109.14 points or 0.42% at 26175.63 at 09:48 IST.
Daily Market Commentary - Jan 27, 2021 - Bonanza Portfolio
Posted On:
Mr Vishal Wagh, Research Head
On Wednesday Indian equity benchmarks made a pessimistic start amid mixed global cues. Markets are trading deeply in red in early deals due to selling in Metal, Energy and Realty stocks. In the afternoon session, Indian equity benchmarks continued to show a sluggish trend with Sensex and Nifty trading below their psychological levels of 47,900 and 14,100, respectively.
On the global front, Asian markets were trading mixed on Wednesday after the International Monetary Fund raised its forecast for global growth this year and said it sees major central banks holding their policy-rate settings through 2022.