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Zoho to Zerodha, here are the 10 most valuable bootstrapped companies in India

As Nvidia dethrones Microsoft, check out the world's top 10 most valuable companies

<keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords" topicspecial.url="https://economictimes.indiatimes.com/reliance-industries-ltd/stocks/companyid-13215.cms">Reliance</keyword> Industries Ltd, <keyword id="22746601" type="General" weightage="20" keywordseo="Indias-most-valuable-company" source="keywords">India's most valuable company</keyword>, plans to commission its first <keyword id="22746598" type="General" weightage="100" keywordseo="solar-giga-factory" source="keywords">solar giga-factory</keyword> in the current fiscal as it pivots a <keyword id="20534377" type="General" weightage="20" keywordseo="green-pathway" source="keywords">green pathway</keyword> to achieve <keyword id="20824969" type="General" weightage="20" keywordseo="net-zero-carbon-emissions" source="keywords">net zero carbon emissions</keyword> from operations by 2035. In its largest annual report, the firm said it is targeting to commission the first train of 20GW solar PV (photovoltaic) <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> by the end of 2024-25 fiscal (April 2024 to March 2025) and scale up to 20GW in a phased manner over 2026. The solar giga factory will include manufacturing of <keyword id="22746599" type="General" weightage="20" keywordseo="PV-modules" source="keywords">PV modules</keyword>, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. It is also targeting industrialising <keyword id="22746600" type="General" weightage="20" keywordseo="sodium-ion-cell-production" source="keywords">sodium-ion cell production</keyword> at the MW level in 2025 and first 50 MWh a year <keyword id="22746602" type="General" weightage="20" keywordseo="lithium-battery-cells" source="keywords">lithium battery cells</keyword> pilot in 2026. Reliance had in 2021 announced plans to invest USD 10 billion over three years to develop a new fuels business based on 100 GW of renewable power capacity by 2030. The plan involves setting up four giga factories for manufacturing renewables equipment, battery storage, fuel cells and hydrogen at Jamnagar in Gujarat. "We have made significant progress in establishing factories that will be part of our Integrated Solar PV Manufacturing," the firm said in the annual report. "New Energy will be commissioning its first train of Module and Cell Manufacturing in FY25." Solar panels manufactured in Jamnagar have obtained BIS certification. "Parallelly, work on <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords" topicspecial.url="https://economictimes.indiatimes.com/small-biz/renewable-energy">renewable energy</keyword> development has commenced and Reliance has been allotted land in Gujarat," it said. "We aim to become the largest renewable energy (RE) developer in India." Besides commissioning the first train of module and cell of 20GW of solar PV manufacturing, 2024-25 may also see industrialise sodium ion cell production at a MW level. Next year, PV factory is to be scaled to 20GW in a phased manner, and a battery giga factory starting with a 50 MWh a year lithium battery cells pilot set up. In FY27, it plans to establish a cell-to-pack manufacturing facility of 50 GWh and will set up 100 GW of renewable energy capacity by 2030. The 100GW target will propel the company into the front rank of renewables ambitions globally, joining the likes of Enel, Iberdrola and oil players TotalEnergies and BP in the scale of capacity additions envisaged. Reliance said fossil fuels have historically fed India's power requirements. "Structural inefficiencies combined with rising costs of fossil fuel has resulted in expensive power for commercial and residential customers - average tariff of Rs 10 per kWh (unit)." Therefore, it is not feasible for India to keep relying on fossil fuels for its growth, it said, adding the use of fossil fuels-based energy increases dependence on imports and results in drain of foreign exchange. "Stable and round-the-clock cost-efficient green power is the need of the hour. India needs to solve this problem to maintain its growth trajectory and reach USD 32 trillion GDP by 2047," it said. Reliance said over the next 12 months, its focus is to bring new energy manufacturing facilities on-stream, operate them efficiently and start developing renewable energy generation projects. "Simultaneously, we would develop the supply chain locally for self-sufficiency and reduce the reliance on imports," it said. The firm aims to partner leading global climate technology and product companies and develop a business model which is flexible and adaptable to different technologies and future proofed to be always lowest life cycle cost and best in class. Reliance has snapped up multiple partnerships in the clean energy space, such as solar and electric mobility, while pursuing its oil and petrochemical plans. Jamnagar, the world's biggest single-site integrated refinery complex, has two refineries -- one domestic-focused and a newer only for exports -- that together can process low-grade crude and switch between fuels depending on prices.

Reliance to commission first solar giga-factory in FY25

Reliance to Kotak – Top 10 companies by valuation in India, according to Hurun

<ul class="summary-list"><li>Nvidia hit a record high, becoming the world's largest company by market valuation at $3.58 trillion.</li><li>Nvidia's rise follows a tech rally post-Donald Trump's election win, with the Nasdaq 100 up nearly 3%.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> stock soared as much as 5% on Wednesday to hit a record intra-day high of $146.47.The gains catapulted Nvidia's market valuation to $3.58 trillion, cementing its position as the largest company in the world after it closed ahead of Apple on Tuesday.It's the first time Nvidia has occupied the top spot on the list of most valuable companies <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-market-cap-apple-most-valuable-company-nvda-2024-10">since late October</a>.The stock surge came amid a broader rally for the tech sector following <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-victory-impact-investments-costs-housing-taxes-childcare-2024-11">Donald Trump's election victory,</a> with the <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> rising nearly 3%.The gains in Nvidia shares on Wednesday significantly outpaced the gains in Apple stock, which was up by just 0.12% at 3:05 p.m. ET.<a target="_blank" class="" href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> is now the world's second-largest company, worth about $3.38 trillion, or about $200 billion less than Nvidia. The next largest company is Microsoft, which was worth $3.12 trillion on Wednesday.In the two years since ChatGPT's debut, shares of Nvidia, which supplies the tech sector with AI-enabling GPU chips, have added nearly $3.2 trillion to their market valuation. The stock has soared about 800%.<a target="_blank" rel="" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-prediction-nvda-blackwell-demand-outlook-chips-ai-2024-10?utm_medium=ingest&amp;utm_source=markets">Wall Street believes the gains can continue,</a> with some analysts expecting the stock to soon top a $4 trillion valuation.Bank of America analysts raised their Nvidia price target to $190 last week, citing strong upside and a <a target="_blank" rel="" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-upside-growth-ai-chips-demand-bofa-2024-10?utm_medium=ingest&amp;utm_source=markets">"generational opportunity" </a>as it grows its lead in the AI space.Another recent milestone for Nvidia is <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-replace-intel-dow-jones-industrial-average-2024-11">its inclusion in the Dow Jones Industrial Average</a>, with the company set to replace Intel on Friday.Nvidia will report third-quarter earnings results after the market close on November 20.

Nvidia stock surges to a record high, solidifying its position as the world's most valuable company

Nvidia beats Apple, becomes second most valuable company: Top 10 companies by market cap

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India’s appetite is increasing day by and day and the <keyword id="20676228" type="General" weightage="20" keywordseo="food-services-industry" source="keywords">food services industry</keyword> is on a sizzling plate, projected to grow by 10-12% annually for the next seven years, according to a recent study by <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> and <keyword id="19922375" type="General" weightage="20" keywordseo="Bain-Company" source="keywords" meta.keywordsubtype="org" meta.entityname="Bain &amp; Company" meta.hostid="261" meta.entityid="Bain &amp; Company">Bain &amp; Company</keyword>. This translates to a potential customer base of 45 crore people by 2030! <keyword id="20039605" type="General" weightage="20" keywordseo="online-food-delivery" source="keywords">Online food delivery</keyword>, in particular, is expected to grow at an even faster rate with a compound annual growth rate of 18%. Fueled by a growing population, more eating-out occasions, and a wider variety of food options, India's culinary landscape is undergoing a delicious transformation — delicious for the service providers. But what of the consumers? While the study reveals a fascinating diversity in <keyword id="22275323" type="General" weightage="20" keywordseo="how-india-eats" source="Orion">how India eats</keyword>, it also indicates that the top 50, or Tier 1, cities presently account for 70% of food consumption. This wouldn’t be a problem if eating food from outside weren’t basically synonymous with eating unhealthy food. To exacerbate this problem, statistics suggest that this trend will soon seep into the Tier 2 and 3 cities of the country as well. Further, 70% of consumption came from upper-middle to high income households. As per the study, GenZ and other youngsters represent a significant chunk of the food consumption pie – a whopping 40%! <div type="Article" hostid="261" msid="109113406" title="Millennials and Gen Z&amp;#39;s trendy new splurge: groceries" mstype="2" mssubtype="0"></div>Growing up in the age of smartphones and social media, Gen Z is comfortable navigating the digital world to discover new restaurants and cuisines. They're not afraid to experiment, venturing beyond traditional family favorites and trying over three different cuisines and six restaurants in a year! While GenZ appreciates good food, they also prioritise value for money. Online food <keyword id="20039606" type="General" weightage="20" keywordseo="delivery-platforms" source="keywords">delivery platforms</keyword> allow them to compare prices and offerings before placing an order. Furthermore, this generation is expected to dine out more often as their disposable income increases. The rise of online food delivery has revolutionized the way India eats. It has not only extended our eating hours (think late-night cravings!). With changing lifestyles, mid-meal snacking is becoming a popular trend. This opens doors for innovative brunch and evening snack options, requiring restaurants to adapt their opening hours. Delivery platforms have seen an increase in people ordering food items like chicken biryani, fried rice, butter naan, masala dosa and Margherita pizza, among other things, during odd-hours of the day and night. Convenience, taste, and price are now the holy trinity of ordering decisions. Food delivery platforms have intensified competition by making restaurant discovery and comparison a breeze. However, the rise of these food delivery platforms can have a direct impact on the health of Indians, and judicious use of them is advised. <div type="Article" hostid="261" msid="111758782" title="Zomato and Swiggy increase platform fee by 20% – food deliveries to get costlier" mstype="2" mssubtype="0"></div>

Swiggy report says GenZ contributes to 40% of food consumption; highlights recent trend of binge-eating

<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

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