Wipro sacks 452 entry-level employees for poor performance, says it spent this much money training them
Continuing the trend of mass?layoffs? at tech companies, the most recent to join the spree after the likes of Google, Microsoft, Amazon, is Indian?IT services? firm Wipro. The company has sacked 452 entry-level employees after ‘they performed poorly in assessments repeatedly even after training’, said the company in a statement. The termination letter sent to the employees stated that ‘despite adequate training, they have failed to perform’. It also stated that they were liable to pay a fee of Rs 75,000 in order to compensate for the amount Wipro spent on training them. However, the company, in the same mail, waived off the fee. “We wish to inform you that training cost of Rs 75,000 which you are liable to pay, will be waived off,” the letter noted.
2023 Honda Activa with H-Smart key launched: Priced at Rs 80,537
Honda Motorcycle & Scooter India (HMSI) has today announced the launch of the updated Activa 6G. It now gets a range-topping H-Smart variant with a segment-first smart key with car-like features. The new 2023 Honda Activa H-Smart has been priced at Rs 80,537, ex-showroom. Its variant-wise prices are mentioned below.?
Reliance shares rise after in-line Q3 earnings? Should you buy, hold or sell RIL stock?
Reliance shares rose half a per cent to Rs 2,454 on NSE after the Mukesh Ambani-led company reported in-line Q3 numbers. The oil-to-telecom major’s net profit declined 15% on-year to Rs 15,792 crore for the quarter ended 31 December 2022. RIL’s telecom arm Reliance Jio and retail arm Reliance Retail each posted healthy double-digit growth in revenues on-year as more consumers used their services. Jio increased its revenue by 18.87% on-year to Rs 22,998 crore in Q3FY23, while Reliance Retail Ventures clocked a 17% on-year jump in revenue from operations at Rs 67,634 crore in the quarter. RIL board also approved raising Rs 20,000 crore through non-convertible debentures (NCDs). So far this year, RIL share price has tumbled more than 5%. However, the stock has rallied 172% in last five years.
Tax-free interest income up to Rs 1 lakh for senior citizens, suggests SBI Research
Section 80TTB Income Tax exemption limit for senior citizens: Interest income of up to Rs 50,000 from savings accounts, fixed deposits and recurring deposits is currently exempted from income tax for senior citizens under Section 80TTB of the Income Tax Act. SBI Research suggests in its recent report that this limit should be increased to Rs 75,000/Rs 1 lakh.
“Under 80TTB interest income from deposits by senior citizen (Savings bank accounts, fixed deposits, recurring deposit accounts) up to Rs 50,000 is exempted from income tax. This threshold may be increased to Rs 75,000 / Rs 1 lakh which still will have much lower fiscal cost,” writes Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI.
Jindal Stainless, IDFC, Adani Total Gas among 42 NSE stocks to hit 52-week high, 61 falls to 52-week low
Indian equity indices were trading in the positive territory amid positive sentiment in global markets. In the intraday trade, the Nifty slipped below 18100 and Sensex below 60850. The NSE Nifty 50 was trading at 56.55 pts or 0.31% higher at 18,084.20 and BSE Sensex was up 200.96 pts or 0.33% at 60,822.73. The majority of the broader market indices were trading in green with the Nifty 100 rising 0.24%, Nifty Midcap 50 up 0.99%, Nifty Smallcap 50 up 0.32%, Nifty Largemidcap 250 up 0.14% and Nifty Total Market up 0.17% while Nifty Smallcap 100 was down 0.11% and Nifty Microcap 250 down 0.38%. The sectoral indices were also trading higher with Bank Nifty up 0.55%, Nifty Auto up 0.85%, Nifty FMCG up 0.50%, Nifty IT up 1.09%, Nifty Pharma up 0.79% and Nifty Oil & Gas up 0.40% while Nifty Metal was down 0.32% and Nifty Realty down 0.54%. The most active equities of NSE were ICICI Bank, Kotak Bank,?HDFC Bank, Reliance Industries Ltd (RIL), Yes Bank, UktraTech Cement, Bandhan Bank, Infosys, Bajaj Finance and LTI Mindtree Ltd.
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Parakram Diwas 2023: PM Modi names 21 islands of Andaman & Nicobar after Param Vir Chakra awardees
Prime Minister Narendra Modi on Monday named the 21 largest unnamed islands of Andaman and Nicobar Islands on the occasion of Parakram Diwas. He has named the islands after Param Vir Chakra awardees in a ceremony.
The Prime Minister also unveiled the model of the National Memorial dedicated to Netaji to be built on Netaji Subhas Chandra Bose Dweep, earlier known as Ross Islands. In the ceremony, Union Home Minister Amit Shah was also present at the Andaman and Nicobar Islands.
India’s first Personal Aerial Vehicle – Varuna will be showcased on Jan 26 this year
As the world is witnessing a revolution in new-age mobility where unmanned autonomous vehicles are the need of the hour to strengthen air, terrestrial and maritime security, Sagar Defence Engineering has made its primary goal to utilise this indigenously autonomous technology?to provide expeditious solutions.
In the rear section of the Naval Tableau this year three models of autonomous unmanned systems being developed indigenously under IDEX-Sprint Challenge are displayed. And one of them is the model of an unmanned personal aerial vehicle, “Varuna.
It’s official! She is now INS Vagir – All you want to know
On Monday the fifth diesel-electric Kalvari class submarine `Vagir’ was commissioned in the Indian Navy and enhancing its combat potential and firepower and capabilities.
Keeping in line with Indian Navy’s old tradition that ‘old ships & submarines never die, this new submarine is the reincarnation of the erstwhile Vagir, which had served the country and the Navy for three decades.