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Low cost carrier <keyword id="6358032" type="General" weightage="100" keywordseo="spicejet" source="Orion">SpiceJet</keyword> is said to be in active discussion with a <keyword id="859863" type="General" weightage="50" keywordseo="middle-eastern" source="Orion">Middle Eastern</keyword> carrier for a possible stake sale. SpiceJet promoter <keyword id="6357826" type="General" weightage="50" keywordseo="ajay-singh" source="Orion">Ajay Singh</keyword> holds a stake of around 60 per cent in the budget carrier. Sources said a big Middle Eastern airline has expressed interest to pick a 24 per cent stake and a board seat in SpiceJet. A big Indian business conglomerate has also approached Singh for a stake in the airline. Reacting to the development, a <keyword id="1002649" type="General" weightage="50" keywordseo="spicejet-spokesperson" source="Orion">SpiceJet Spokesperson</keyword> said, "The company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations." Earlier, on Tuesday, SpiceJet said that it entered into a full and final settlement with the <keyword id="54875" type="General" weightage="50" keywordseo="airports-authority-of-india" source="Orion">Airports Authority of India</keyword> (<keyword id="47439" type="General" weightage="50" keywordseo="aai" source="Orion">AAI</keyword>) and has cleared all outstanding principal dues of the airport operator. With this, SpiceJet will no longer remain on 'cash and carry' at AAI run airports across the country and will revert to advance payment mechanism for daily flight operations. SpiceJet's ability to clear the pending dues reflects the airline's improved cash flow in recent times. SpiceJet's domestic network covers the length and breadth of the country with the airline operating to 51 domestic destinations. <keyword id="16140" type="General" weightage="50" keywordseo="pioneer" source="Orion">Pioneer</keyword> of the regional connectivity scheme, SpiceJet is the country's largest regional player helping connect the remotest parts of the country by air. The airline's focus on providing direct flight connectivity to regional hubs not only ensures better connectivity, it also has a cascading effect on tourism and economic activity in the region. SpiceJet has added multiple <keyword id="6366656" type="General" weightage="50" keywordseo="udan" source="Orion">UDAN</keyword> destinations to the country's aviation map including Pakyong, Jharsuguda, Kandla, Darbhanga, Kanpur, Ajmer (<keyword id="194159" type="General" weightage="50" keywordseo="kishangarh" source="Orion">Kishangarh</keyword>), among others. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/sun-pharma-chairperson-israel-makov-to-retire-on-august-29/articleshow/93314360.cms">Sun Pharma Chairperson Israel Makov to retire on August 29</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/surgeons-use-virtual-reality-to-separate-twins-with-conjoined-heads-in-a-27-hour-long-surgery/articleshow/93314424.cms">Surgeons use virtual reality to separate twins with conjoined heads in a 27-hour-long surgery</a>

SpiceJet in active discussion with Middle Eastern carrier for a possible stake sale

<ul><li>Tier 2 and 3 cities like Thiruvananthapuram, Ahmedabad, Cochin, Coimbatore and more are identified as emerging IT destinations by <keyword id="133742" type="General" weightage="100" keywordseo="teamlease" source="Orion">Teamlease</keyword>.</li><li>These cities are likely to contribute over 85% of the talent from emerging locations across India.</li><li>More than 40% of the companies intend to hire from one or more of the 20 emerging locations, as per TeamLease report.</li><li>This has also led to an increase in the number of contract jobs by at least 24,000 in the last two quarters.</li></ul>The fast paced IT and business process outsourcing companies, which are slated to grow by 7% in FY23, will turn to emerging locations for the supply of high tech talent. This means that people will not go to jobs, but jobs will come to people. The <keyword id="14624373" type="General" weightage="20" keywordseo="Digital-Employment-Outlook" source="Orion">Digital Employment Outlook</keyword> Report by TeamLease suggests that tier 2 and 3 cities like Thiruvananthapuram, Ahmedabad, Cochin, Coimbatore, Chandigarh, Indore, Mysore, Vadodara, Madurai, Visakhapatnam, Jaipur, Bhubaneshwar, Mangalore, Lucknow, Nagpur, Goa, Salem, Durgapur, Vijayawada and Trichy are the 20 emerging destinations for IT in India. These cities are likely to contribute over 85% of the talent from emerging locations across India. “We estimate the digital skills population across emerging locations to be over 75,000,” the report suggests. “Opening centers in emerging locations would ensure taking jobs to people instead of taking people to jobs. This would ensure better utilization of talent across the country and help India become a talent superpower,” said <keyword id="12690914" type="General" weightage="50" keywordseo="sunil-chemmankotil" source="Orion">Sunil Chemmankotil</keyword>, CEO at TeamLease Digital. More than 40% of the companies intend to hire from one or more of the 20 emerging locations. <cmsannotation type="cmsannotation" annotationid="Tier 1 city employees continue to work from home towns" comment="subhead" text="Tier 1 city employees continue to work from home towns">Tier 1 city employees continue to <keyword id="123591" type="General" weightage="20" keywordseo="work-from-home" source="Orion">work from home</keyword> towns</cmsannotation> At least 20% of the digital talent employed at tier 1 cities are currently located at emerging destinations due to continuing work from home (WFH) policies, according to the report. The Covid-19 pandemic pushed the companies in almost all the sectors to offer work from home to employees. The workforce which shifted to their hometowns now are reluctant to come back. The companies are also willing to adopt permanent remote working and are also tapping into tier 2 and 3 cities to attract the talent pool in these locations. Keeping in mind that work from home will still persist, more than 61% of IT-BPM companies had contract employees working from remote locations. This helped the companies to reduce the burden of hiring full time employees at short notice and execute short-to-medium term projects at lower costs and minimal resources. It has also led to an increase in the number of contract jobs by at least 24,000 in the last two quarters, the report highlights. The number of contract job opportunities is estimated to grow from 1.5 lakh in FY22 to 1.81 lakh in FY23. “As India’s IT employment is expected to double in the next five years, contract staffing share is expected to grow from the current 3% to 6%. This growth in contract staffing would ensure building an additional bridge between demand and supply for companies struggling to meet the talent demand,” Chemmankotil added. <cmsannotation type="cmsannotation" annotationid="IT Business Process Management industry created 3.2 lakh indirect jobs" comment="subhead" text="IT Business Process Management industry created 3.2 lakh indirect jobs">IT Business Process Management industry created 3.2 lakh indirect jobs</cmsannotation> By the end of FY-2022, the <keyword id="8691377" type="General" weightage="20" keywordseo="IT-BPM" source="Orion">IT BPM</keyword> industry employed around 5.1 million full-time employees. Further, every job in the technology sector had a multiplier effect leading to the creation of about 3.2 million indirect jobs, the report says. The headcount in the IT BPM industry will grow from 5.1 million to around 5.45 million in FY-2023 which is about 7% growth when compared to the previous year. Out of 5.1 million people, the majority of the employees are working from home as companies have started looking for other ways to get back to normalcy. “IT-BPM industry continues to be a sunshine industry in India, being the largest employer in the private sector, employing about 3.9 million people, and contributing to over 8% of the GDP. Our industry here also amounts to 55% of the global outsourcing market,” Chemmankotil said. Chemmankotil of Teamlease further highlighted that the employment in the technology sector in India will further increase from 5 million to 10 million in the next few years. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/spicejet-in-active-discussion-with-middle-eastern-carrier-for-a-possible-stake-sale/articleshow/93314708.cms">SpiceJet in active discussion with Middle Eastern carrier for a possible stake sale</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/sun-pharma-chairperson-israel-makov-to-retire-on-august-29/articleshow/93314360.cms">Sun Pharma Chairperson Israel Makov to retire on August 29</a>

Durgapur and Salem among 20 emerging IT destinations in India: TeamLease

<ul><li>Indian stock market indices opened in green on Friday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.46%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Friday, led by gains in index-heavyweights ICICI Bank, Axis Bank and RIL amid persistent foreign fund inflow and positive cues from global peers. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.46%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Infratel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zee Entertainment Limited </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td></tr></tbody></table>*as of August 28, 10:06 am These are the top stocks that are buzzing in trade today: Future Enterprises hit 5% upper circuit Kishore Bhayani owned Future Enterprises shares hit 5% upper circuit after <a href="https://economictimes.indiatimes.com/markets/stocks/news/future-enterprises-board-meets-tomorrow-to-seal-reliance-retail-deal/articleshow/77795529.cms">news reports</a> surfaced that the board will meet on Saturday to finalise the sale of the group’s retail business to Mukesh Ambani owned Reliance Retail. The news also brought a rally of 4.46% in Future Retail shares, 5% in Future Lifestyle Fashions shares and nearly 3% in Future Consumer shares. Sun Pharma gained over 2% Sun Pharma gained over 2% after the company Chairman Israel Makov said that the pharma major is conducting clinical trials to test the effectiveness of many existing medicines in treating symptoms of COVID-19. GMR Infra opened 4% higher GMR Infrastructure gained 4% during the early trading hours after the company decided to restructure its business. The GMR group said after demerging the business energy, urban infrastructure and EPC services - will be split into GPUIL. And, the airport business will be listed separately. Bharat Electronics, BHEL, L&amp;T, Bharat Forge rally Defence stocks Bharat Electronics, BHEL, L&amp;T, Bharat Forge, rallied after defence chief of India<a href="https://www.businessinsider.in/defense/news/india-likely-to-introduce-a-second-defence-import-embargo-list-by-the-end-of-year-as-it-chases-down-5-billion-in-exports/articleshow/77797223.cms"> General Bipin Rawat said the government is looking to introduce another list</a> that will restrict the import of defence items. The second list will be aimed at creating more opportunities for Indian defence firms. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gained % </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Electronics </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BHEL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.46% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.63% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr></tbody></table> NMDC gains 10% Shares of state owned NMDC gained 10% despite weak quarterly results. The company reported over 54% fall in its net profit to ₹531.35 crore in the first quarter ended June 30. NMDC board has also approved the demerger of its subsidiary, NMDC Iron and Steel Plant. Allcargo Logistics shares plunged 2% Allcargo Logistics shares shed 2% the day after the company’s board considered voluntary delisting of shares. According to the stock-exchange filing, the board would meet again to discuss the delisting proposal in detail, after receipt of the due diligence report from Inga Ventures, the merchant banker. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-hdfc-bank-sun-pharma-hcl-tech-hal-bharat-forge-bhel-kotak-mahindra-indusind-bank-gmr-infra-and-more/articleshow/77795938.cms" data-type="tilCustomLink">Top stocks to watch in trade— HDFC Bank, Sun Pharma, HCL Tech, HAL, Bharat Forge, BHEL, Kotak Mahindra, IndusInd Bank, GMR Infra and more</a> <a href="https://www.businessinsider.in/stock-market/news/sp-500-closes-at-record-high-after-fed-signals-it-will-keep-stimulating-the-economy/articleshow/77794440.cms" data-type="tilCustomLink">S&amp;P 500 closes at record high after Fed signals it will keep stimulating the economy</a>

Top stock movers — Future Enterprises, Future Retail, Sun Pharma, L&T, HAL, Axis Bank, GMR Infra, Bharat Forge, RIL, NMDC and more

<ul><li>At 7:45 am, the SGX Nifty was up 1.04% at 8.72 points pointing towards a higher start for the Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid positive cues from the global peers, Indian stock-market indices are likely to open in green on Friday. At 7:45 am, the SGX Nifty was trading 1.04% higher at 8.72 points, pointing towards a higher start for the Nifty50. The Dow Jones Industrial Average rose 0.57% to close at 28,492.27 points, as investors parsed through the US Federal Reserve’s new policy strategy on inflation and a slew of key economic data. These are the stocks to watch out for during the trading session on Friday: Sun Pharma Sun Pharmaceutical Chairman Israel Makov said the company is conducting clinical trials to test the effectiveness of many existing medicines in treating symptoms of COVID-19. The shares of Sun Pharma ended over 2% higher on Thursday. HDFC Bank, IndusInd Bank and Kotak Mahindra Bank Global index provider FTSE Russell removed three lenders from its indices— HDFC Bank, IndusInd Bank and Kotak Mahindra Bank. The firm said the banks failed to meet minimum foreign headroom requirements. The shares of HDFC Bank and Kotak Mahindra Bank ended nearly a percent lower on Thursday, whereas IndusInd Bank was up 7%. HCL Technologies HCL Technologies has set up its first European Cybersecurity Fusion Center in Sweden. HCL Technologies’ Cybersecurity Fusion Center (CSFC) is a state-of-the-art security operation and response facility, integrating multi-domain security teams, processes and cutting-edge analytics - enabling organisations to detect threats faster and resolve incidents efficiently, the company said in a statement. The shares of HCL Tech ended nearly 0.13% lower on Thursday. NMDC The state-owned NMDC reported over 54% fall in its net profit to ₹531.35 crore in the first quarter ended June 30, mainly on account of lower income due to COVID-19. The shares of NMDC ended nearly 1% higher on Thursday. Hindustan Aeronautics Limited (HAL) The offer for sale (OFS) of Hindustan Aeronautics Ltd (HAL) was oversubscribed 1.6 times by non-retail investors. The government has decided to exercise the “green shoe” option. The “green shoe” refers to the option of over-allotment of shares. The shares of HAL ended nearly 14% lower on Thursday. Defence stocks in focus Other defence stocks like Bharat Forge, BHEL and Bharat Electronics will also be in focus today. Prime Minister Narendra Modi stressed on the need for Atma Nirbhar Bharat in the defence sector. Some of the highlights from commentary include - opening up the foreign direct investment till 74% through automatic route, and expanding the list for defence imports. IDFC Bank IDFC Bank reported a consolidated net loss of ₹26.46 crore for the quarter ended June 30. The consolidated total income fell to ₹103.99 crore during the period, as against ₹133.04 crore in the same quarter last year. The shares of IDFC ended nearly 2% lower on Thursday. Allcargo Logistics The board of directors of Allcargo Logistics considered voluntary delisting of shares proposal in a meeting yesterday. The company has appointed Inga Ventures as a merchant banker. The company in a stock-exchange filing said the board would meet again to discuss the delisting proposal in detail, after receipt of the due diligence report from the Merchant Banker. The shares of Allcargo Logistics ended nearly 4% lower on Thursday. GMR Infra GMR Infrastructure has decided to restructure its business. In a 'scheme of arrangement' involving vertical split demerger of the non-airport business — these include energy, urban infrastructure and EPC services - will be split into GPUIL. The airport business will be listed separately. The shares of GMR Infra ended 0.19% higher on Thursday.

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SpiceJet in active discussion with Middle Eastern carrier for a possible stake sale

IANS

Durgapur and Salem among 20 emerging IT destinations in India: TeamLease

Vaamanaa Sethi

Top stock movers — Future Enterprises, Future Retail, Sun Pharma, L&T, HAL, Axis Bank, GMR Infra, Bharat Forge, RIL, NMDC and more

Navdeep Yadav

Top stocks to watch in trade— HDFC Bank, Sun Pharma, HCL Tech, HAL, Bharat Forge, BHEL, Kotak Mahindra, IndusInd Bank, GMR Infra and more

Navdeep Yadav

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