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Business Standard

Salesforce keen on expanding in India, to invest more in Hyderabad, B'luru

Customer relationship management-focused entity Salesforce is keen on expanding in India and looking for more space in the country, a top official said on Wednesday. The company, which has centres in Bengaluru and Hyderabad to support global operations, is looking for space to expand in India currently, its chief operating officer Brian Millham told PTI here. Apart from this, Salesforce also serves the domestic market and this business has been the fastest-growing one in any country for two consecutive years. "India has been incredible for us from a growth perspective. But maybe that even pales in comparison to what we see in India from an employee perspective," he said, making it clear that the support rendered to the global operations is important. The company will continue to invest in India going forward as well, Milham said, adding, "In fact, (we are) looking for new space and expansion in that market." When asked about the same, its chief of engineering Srini Tallapragada ..

The Economic Times

Indians faced over 10 million internet-borne cyberthreats during April-June quarter: report

In particular, file-less malware was identified as the most dangerous form of cyberthreat that Indian users continued to face, owing to the fact that it is difficult to detect, the report said. Phishing, baiting and pretexting also remained a prevalent mode of cyberattack.

Business Standard

VIL's capital-raise unlikely to plug market share erosion: Goldman Sachs

Vodafone Idea's recent capital-raise while incrementally positive, may not be adequate to stop the telco's market share erosion, according to a note by Goldman Sachs. The brokerage has, in fact, anticipated another 300 bps (basis point) share loss for the company over the next 3-4 years, citing the direct correlation between capital expenditure and revenue market share, and given its own expectation of peers spending at least 50 per cent higher capex versus Vodafone Idea. One basis point is equal to 1/100th of a per cent. "Vodafone Idea's recent capital raise, while incrementally positive, is unlikely to be adequate to stop the company's market share erosion in our view," it said. Additionally, it said, Vodafone Idea has large Adjusted Gross Revenue (AGR)/spectrum-related payments starting in FY26. "While the government has the option of converting some dues into equity, we estimate ARPUs would have to rise by Rs 200-270 (120-150 per cent under different scenarios) versus December

The Economic Times

Powell signals Fed pivot: Will the MPC follow suit?

The Fed chief's dovish message and the onset of a rate-cutting cycle are expected to support rate cuts by India's Monetary Policy Committee. In fact, two independent MPC members had already advocated strongly for rate reductions during the August monetary policy meeting. As a result, the case for cutting rates will likely gain momentum. India's CPI inflation fell to 3.54% in July, comfortably within the RBI’s 4% inflation target.

The Economic Times

Trading at high PE, these 15 mid-cap stocks look expensive, yet give good returns

There are many mid-cap companies that are trading at a PE of more than 100x. In fact, the Nifty mid-cap index trades at a higher PE multiple of 45x than 28x seen by Nifty 50. Ask some tough questions before buying high PE stocks, especially in the mid-cap space.

The Economic Times

Time to be cautious for near time; moving from small & midcaps to largecaps for steadier growth: Mahesh Nandurkar

​In fact, in this calendar year, the first seven months or first eight months for which we have the data, we are seeing the total domestic inflows into the equity market from all sources, be it SIPs, be it mutual fund, be it direct stocks.

Business Standard

Consumption, high food inflation concern for tea industry: FAITTA chief

Sluggish growth in domestic consumption, rising food inflation and slow recovery of exports post the Covid pandemic are some of the challenges faced by the tea industry, a senior official said. Tea producer associations and the Tea Board India have been concerned over the muted demand growth in the country, he said. The remarks came from Sanjay Shah, chairman of the Federation of All India Tea Traders Association (FAITTA), during its 10th annual general meeting here on Saturday evening. As retailers within the FAITTA fold, we are witnessing the market movements from close quarters. It is a fact that loose tea consumption has been giving way to packet tea, Shah said. Rising levels of food inflation also remain a concern area, as it adversely impacts consumption, he said. Given that incomes do not adjust as fast as prices, high inflation in essentials tend to adversely impact demand for non-essentials. Even within essentials, consumers may shift to lower priced non-premium products,

The Economic Times

Bank stocks are underperforming. And you should blame high food prices for this

Globally, most central banks have started cutting interest rates and the US is expected to follow suit soon. However, RBI is still maintaining its hawkish stance, which is stemming from the fact that higher food prices can lead to generalised inflation. But what should one do when food inflation becomes almost permanent?

Mint

Devina Mehra shares investment mantra for stock market, mutual fund investors: Embrace the possibility of being wrong

Even the best fund manager in the world is not right more than 70% of the time. In fact, you can have excellent returns by being right 55% of the time. So whenever you are making an investment decision, at least some of those decisions are going to go wrong, said Devina Mehra.

The Economic Times

In volatile election season, US companies battle 'brand disinformation'

The recent boycott calls targeting Netflix, which also spread on other platforms such as TikTok and Instagram, were triggered by false claims of a $7 million donation from the streaming service to Harris's campaign, AFP fact-checkers reported. Those calling for a boycott, researchers say, include fake accounts on the platform X. The site is owned by Elon Musk, who has endorsed Donald Trump and appears to exert an outsized influence on voters through the platform, which has become a hotbed of disinformation.

The Economic Times

Kerala government implements 'Fake News detection' in school textbooks

The Kerala General Education Department introduces 'Fact-Checking' modules in ICT textbooks for Classes 5 and 7, aiming to empower students to identify fake news and conduct fact-checking online. This move precedes the UK's plans to incorporate a similar curriculum change. Earlier, Kerala implemented a Fake News prevention training for 19.72 lakh students, focusing on digital media literacy and raising awareness about the impact of misinformation.

Business Standard

Congress slams govt over bid to privatise steel plants, suffocate industry

The Congress on Saturday attacked the government over attempts to privatise steel plants, alleging the country's industrial base is being "suffocated" and Union Steel Minister H D Kumaraswamy is party to it. Congress general secretary in-charge communications Jairam Ramesh cited a written reply in the Rajya Sabha by Kumaraswamy. "Yesterday in the Rajya Sabha, the Minister for Steel revealed that the Modi Government has attempted and failed to privatise 4 steel plants and is currently attempting to privatise another 2," Ramesh said on X. None of these six privatisations were necessary, he argued. "Perhaps the Government's incompetence in enacting its own decisions, however ill-founded, is a small mercy," he said. However, these PSUs are now in a state of inactivity, and will be for an indeterminate period of time, Ramesh said. "The Government will not invest in them - in fact, there is evidence that the Government is actually systematically trying to further throttle these units t

The Economic Times

As US gears for a rate cut, Indian equities stand to gain the most. Here's why

At a time when the US interest rates are high, the equity markets have given the best returns. Bond indexes are up and so is gold. In fact, every asset class is growing. So, what will happen when the US interest rates fall?

Business Standard

Tyre makers see severe crunch in domestic natural rubber availability: ATMA

Automotive Tyre Manufacturers' Association on Wednesday said its members are witnessing a 'severe crunch' in the availability of domestic natural rubber and it may disrupt production unless supply issues of the raw material are addressed. Despite high prices of natural rubber (NR), its availability has shrunk, Automotive Tyre Manufacturers Association (ATMA) said, expressing apprehension that some "sections of natural rubber producing interests or trade are withholding the material in anticipation of an increase in the NR prices worsening the availability". The "tyre industry has been experiencing tightness in domestic availability of natural rubber for some time. However currently a severe crunch is being witnessed despite the fact that NR prices have touched a multi-year high. The paucity of natural price needs to be addressed at the earliest so that tyre production processes are not disrupted," ATMA Director General Rajiv Budhraja said in a statement. The Rubber Board had estimat

The Economic Times

‘Father’ of China EV industry calls for investment talks with EU

The panic coming from the EU is caused partly by the fact that Chinese foreign investment hasn’t kept up with the pace of exports, Wan Gang said. One way to improve relations would be to resume talks on the Comprehensive Agreement on Investment, he said.

The Economic Times

Fact Check: IRCTC clears false claims about e-tickets bookings; All you need to know

The spokesperson said up to 12 tickets per month can be booked from an individual's account and if the account-holder is Aadhar-authenticated, he can book 24 tickets per month, provided at least one of the travellers on each ticket is also Aadhar-authenticated.

Business Line

North prefers equity, South less of it, East and West a mix

Pan-India, the diversity ties in with the fact that B30 cities are aggressive on equity compared to T30