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It's impossible to talk about workforce innovation without addressing artificial intelligence.During a virtual roundtable, we asked Business Insider's <a target="_blank" class="" href="https://www.businessinsider.com/workforce-innovation-board-tackles-topics-such-as-c-suite-innovation-ai-worker-wellness-2024-8">Workforce Innovation board</a> to tell us how AI would transform companies over the next year.One major topic was reskilling and upskilling employees. BI's Tim Paradis, who focuses on the future of work, asked whether there were any fears that <a target="_blank" class="" href="https://www.businessinsider.com/vinod-khosla-universal-basic-income-ai-job-loss-2024-9">dire predictions of AI</a> outpacing human capabilities to learn, like those advanced in a recent article by Sun Microsystems cofounder <a target="_blank" class="" href="https://www.khoslaventures.com/ai-dystopia-or-utopia/">Vinod Khosla</a>, would prove true."The basic drivers of job creation will change with a technology that does not only augment human capabilities, but also may surpass them altogether," Khosla wrote, "leaving education and upskilling — a historical avenue for retraining and relevance — somewhat impotent."Board members rejected the grim prognostication."I disagree with that statement," said Justina Nixon-Saintil, IBM's vice president and chief impact officer, though she agreed that AI would exacerbate the digital divide."We made a commitment to scale 2 million people in AI by 2026," Nixon-Saintil said. "There's a sense of urgency in making sure we are not leaving people behind."AARP's Marjorie Powell argued that the global labor shortage was evidence of an enduring need for human workers but that no one can afford to be complacent. "You're going to have to relearn how to do your job," Powell said.Others described the importance of communicating clearly with workers about what AI means for their jobs now and in the future."We're trying to figure out how this transformation is going to occur," said Chris Deri, the president of the corporate advisory businesses at Weber Shandwick. "There has to be transparent communications and stakeholder engagement alongside figuring out these enterprise and strategic matters."The following has been edited for length and clarity.<h3 id="4a721470-9d79-4540-a871-62ad779b2870">How will the most innovative companies be transformed by AI over the next 12 months?</h3><h2 id="58f968af-3acb-493b-870e-b8d2bf021db1">Justina Nixon-Saintil, vice president and chief impact officer, IBM</h2><h3 id="a436d836-8481-4230-8a70-68bd3cfe6353">"Any tasks or jobs in the company that could be automated by AI will happen within the next year."</h3>A lot is going to change. Any tasks or jobs in the company that could be automated by AI will happen within the next year. For any jobs that cannot be automated, workers will need to understand how to work alongside AI.You need to understand what AI means for your role, how to use it to <a target="_blank" class="" href="https://www.businessinsider.com/how-use-ai-save-time-work-best-ways-use-chatgpt-2024-9">increase productivity or efficiency</a>, and how to create new products and solutions leveraging AI. That's going to be the big shift, and here we actually continue to upskill our employees to prepare for that shift.Last year, we had an AI challenge across the company, and a huge percentage of our employees participated. They had to get training first, and then they were part of a team to come up with innovative solutions leveraging AI. We did it again this summer. So the company is very focused on how to upskill all employees, because it's going to impact every role in the company.<h2 id="82ccd740-f6d2-4536-8e3d-54d9f225dac0">Anant Adya, EVP, service offering head, and head of Americas delivery, Infosys</h2><h3 id="66cbaa75-725e-4e65-880c-285d5d102e74">"How can we eat our own dog food right before we start telling customers to adopt AI?"</h3>We have two objectives. One is to become an AI-first enterprise. The first task is to see how we can start using AI in everything we do, whether it's in our claims or travel expenses, procurement, or handling invoices.Our philosophy is very simple. AI is not about replacing an individual or replacing an employee but how we can amplify our productivity by using the tools. How can we eat our own dog food right before we start telling customers to adopt AI?Second is that for all the offerings that we have today, we want to make sure we infuse AI into them. When we go and talk to our customers about task-level automation, coding or developing an application, or migrating a workload into the cloud — how can we infuse AI into everything that we do? So it doesn't just become a people-based offering but a people-plus-AI-based offering.<h2 id="961badc0-cb06-4d47-9329-ac1f1b2d70dd">Marjorie Powell, chief HR officer and senior vice president, AARP</h2><h3 id="0aee923e-e647-43c9-bf57-4c2ecc03a872">"It's important that everyone learns how to deal with prompt engineering; we are not going to hire prompt engineers."</h3>We believe there's going to be a greater emphasis on <a target="_blank" class="" href="https://www.businessinsider.com/ai-will-change-most-jobs-employers-help-workers-keep-up-2024-8">upskilling and reskilling</a> alongside AI technologies.It's important that everyone learns how to deal with prompt engineering; we are not going to hire prompt engineers. It's going to become a skill for employees to craft clear and specific prompts, adjust to the right audience, and utilize elements and problem-solving skills to identify inaccurate responses.It's about adaptability. Employees are going to have to be open to continuous learning and adapting to new AI tools and technologies in their jobs. So we make sure we're providing some kind of atmosphere and culture for being excited and energetic about learning.The workforce will have to problem-solve regardless of the tool and the technology, and it will require test-and-learn approaches. We created a "community of practice" in the company where individuals can join and help with peer learning and have a sandbox to play around with AI, depending on where they are.They can cross-pollinate across business-unit lines, and that has become very exciting. We also use that group to pilot the new technologies we're considering rolling out to the company.Data literacy is going to be very important — understanding how to read and interpret and tell a story of the data.We're also developing power users in the company, people who are really, really good at this that other employees can tap into when they need help.<h2 id="0ef1d87b-57f3-4474-bfdc-21c4f4fc1b74">Alicia Pittman, global people team chair, Boston Consulting Group</h2><h3 id="dd47519b-c973-4a00-b508-f05159afdea8">"Gen AI also offers an opportunity to avoid leakage of human capital, which obviously we all care quite a lot about."</h3>We have 35,000 employees, and north of 70% are active users of <a target="_blank" class="" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">generative AI</a> now. We've taken a full-company approach of upskilling and rolling out both custom and off-the-shelf tools, regardless of the job.The bottom-up innovation power of gen AI is super exciting. For example, our teams and employees have created more than a thousand custom GPTs, mini automation machines, to-do scripts, and dashboards to create bespoke analyses and build newsletters — it's super quick, and it doesn't require big investments or processes.That's one thing that's specific to gen AI versus other types of technology innovation — it's sparking a lot of energy and unlocking human capacity.Gen AI also offers an opportunity to avoid leakage of human capital, which obviously we all care quite a lot about. It really changes the game in terms of the amount of learning you can keep within the team and not lose as people move around.We're also seeing how gen AI is creating an exoskeleton for generalists to be able to take on more technical tasks. It's not going to turn a generalist analyst into an expert coder, but actually our analysis would show that they can get 80%-plus there on some coding tasks, which then you still need the expert coder to do quality control.<h2 id="d130e1cc-4600-48d2-941b-e5e5b1eddc1f">Maggie Hulce, chief revenue officer, Indeed</h2><h3 id="d4c2bf89-e522-4f0d-bbff-d8d4f916c1e1">"Do I have to build this huge team of AI engineers? The answer is no."</h3>We're trying to infuse AI in all our externally facing products and solutions to make them more insightful, intuitive, and delightful to use — and, in many ways, to create experiences that mimic what a personalized human experience might be like, but at scale.We also see most roles and workflows becoming augmented with AI. That's becoming more and more obvious as the months go on and as teams engage with AI and find applications and new ways of working.I was at Dreamforce recently in San Francisco. What Salesforce <a target="_blank" class="" href="https://www.salesforce.com/news/press-releases/2024/09/17/google-autonomous-agent-partnership/">unveiled</a> was how it wants to help companies essentially launch AI agents in sales, <a target="_blank" class="" href="https://www.businessinsider.com/verizon-is-using-generative-ai-to-streamline-business-relationships-2024-7">customer service</a>, marketing, and commerce.For many companies to get the full power of what AI can do, you have to be able to link up lots of different datasets that are usually in disparate places. It's hard work, and it's very time-consuming. To hear the stories of companies being like, "Guess what, you don't actually have to move that data around anymore," this is going to change how a lot of companies experiment and start to play with AI-oriented applications that will fundamentally change their operations.There are a lot of companies out there that have already started to light it up. We're thinking a lot about how sales, customer service, marketing, and product have operated for a long time in various silos. When you think about customer experiences, they really shouldn't be that way. They should be much more integrated than they are today. Some of these technologies can be part of the accelerants for how customer experiences can be reimagined.Part of what's been hard for people is like, "OK, but do I have to get all of these disparate parts of my company to all work together in a new way? Do I have to build this huge team of AI engineers?" The answer is no. You don't have to be the tip of the spear in terms of sophistication.<h2 id="8b49bd10-b04d-4857-afbc-b2979d5711e9">Kenon Chen, executive vice president of strategy and growth, Clear Capital</h2><h3 id="550eee1b-ffef-4a90-bbea-a94d7a6ba7a2">"As AI accelerates, you also have to accelerate the handling of data in a way that can produce accurate models."</h3>At Clear Capital, we participate in the highly regulated housing-finance industry. To enable AI to be used in accordance with our clients' expectations of governance and quality control, we've taken a three-pronged approach.First, we've been investing in creating good industry standards and working with the industry to ensure there's agreement on how AI models should be tested, how they ensure compliance with antidiscrimination and fairness practices, and how the data should be handled.Second, we've been investing a lot in higher-quality data. As AI accelerates, you also have to accelerate the handling of data in a way that can produce accurate models. So we've invested quite a bit in better digitization and generation of data.Third is fostering collaboration between innovators, industry players, policymakers, and regulators. We participated this year in the Federal Housing Finance Agency's generative-AI tech sprint, where about 80 leaders from different aspects of the housing industry brainstormed ways to apply generative AI to the lending process to improve borrowers' experience.One thing that became clear after participating in that was where we have more tools and more capabilities to accelerate. We always have to go back to the why: What is the mission? And we have to make the mission at the company level that much more clear so that as we apply these new tools, it's always for the sake of the mission.<h2 id="5e045b5f-3490-4435-8321-bab58740eaa8">Chris Deri, president, corporate advisory businesses, The Weber Shandwick Collective</h2><h3 id="79930c20-445b-4959-b644-53f07e252292">"There's a mega-trend need for all of us to adopt AI and understand it, but that means something different for different parts of our organization."</h3>We're a public-relations firm, so we're looking at AI for ourselves and for our clients.In terms of our own people, one lesson we've already learned is that there was an instinct to take a top-down approach, as in everybody's got to figure out how AI is going to change their business, but we need to take a bottom-up approach.In the simplest sense, we do consumer marketing, healthcare marketing, and corporate advisory work. We really need to design training for each of the different practitioner types.There's a mega-trend need for all of us to adopt AI and understand it, but that means something different for different parts of our organization.Another thing we're doing is creating a futuristic think-tank group in our company — three or four people who have been putting together an ecosystem to give us constant learning. We also have academic institutions, investors, technologists, and other practitioners to help.We're also looking at our business model and how we budget and scope. The classic assignment we get is companies call us and say, "We want to map our stakeholders and what their expectations are of us." That used to be a project that we would figure out with just consultant time. Now we're applying AI to do some of that.We need to figure out how to take advantage of those efficiencies to add new value — that human value. So we need to relook at our entire business and service model, and we haven't figured it all out yet.Anant talked about "eating your own dog food." We've mapped out the implementation of that stack for ourselves to test and learn, and then we will start to use that in how we show up as advisors to our clients on the same journey.<h2 id="3bf33684-0da6-43af-856a-e0d807c42725">Sharawn Tipton, chief people and culture officer, LiveRamp</h2><h3 id="2513253b-1145-4ac9-afad-cb752e1513d8">"What we're trying to do is really keep people at the center of this transformation."</h3>We're thinking a lot about the AI trust gap. I'm in San Francisco today, and I was walking around and I saw all these autonomous vehicles, and it dawned on me that my mother would never ride in one. She just does not trust that technology.As a data company, we're thinking a lot about how do we ensure that our customers, our clients, and our partners trust that we're going to protect their data and use AI when appropriate and be certain that we have safeguards for when it isn't appropriate. And then I think the biggest area that my team is focused on with this trust gap is job security and what this means for the average worker.So what we're trying to do is really keep people at the center of this transformation. We're thinking a lot about employee resource groups. That way we've been able to reach all different types of team members. So how do we target our ERGs and think about who are the slow adapters? Who are the folks that typically get left behind, and how do we give them a little extra push?What we want to do is think about how to continue to have our team members trust their leaders, but also trust AI and where we're going, and get them to understand this isn't about replacing jobs. We are really focused on transforming jobs. That is a huge shift and a huge opportunity for us.<h2 id="c0d7e4c7-96a5-41d7-8c3f-29dee443e291">Shane Koller, senior vice president and chief people officer, Ancestry</h2><h3 id="2fb41060-9718-4c06-940a-5ac8246457b5">"The more people we get thinking about governance, the better AI technology will be used."</h3>There are a lot of different points of view on what AI will and will not do and how quickly.I was reading an article in The Wall Street Journal over the weekend that said for every one person who believes that AI is going to replace everyone's jobs, there are three or four who think there's going to be this boom in AI and then it's going to settle down. And that the promise we think AI is going to deliver will probably take longer than we think to come to fruition.One of the things that we've been doing at Ancestry very intentionally is bringing up the subject of governance, because I think we all think of AI as this steamroller that's going to come and either we're going to step aside from it or we're going to get steamrolled.The more people we get thinking about governance, the better AI technology will be used. And I say that within Ancestry as well as within companies in general and within governments. We have more of a role to play in how this rolls out than we think.We've been building AI into our product for over 10 years now, and we've been giving more thought to how would we govern the use of AI within our own company so that we're not, for example, putting our customers' data at risk. We're very conscious that security and privacy is first and foremost in every discussion. It's really about how you govern such an amazing technology.

Leaders from BCG, Infosys, AARP, and more predict how AI will transform top companies in the next 12 months

<ul><li>Shares of the entire IT pack companies have been beaten down significantly in 2023 due to macro headwinds.</li><li>The March quarter results of TCS, Infosys and HCL Technologies so far have also underlined the ongoing slowdown.</li><li>The IT companies in India faced the heat after the banking crisis in the US and Europe erupted.</li><li> Considering the macro economic challenges like high inflation, interest rates and banking crisis in regions, analysts expect the <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword> to remain watchful for at least the next few quarters.</li></ul>India’s information technology services companies have been struggling amid heightened fears of recession across developed markets and the repercussions of a banking crisis in the US and Europe. And the situation is unlikely to improve until the end of the year, analysts say. Amid the ongoing weakness in the sector, foreign portfolio investors (FPIs) have also sold their stakes in IT companies. FPIs turned bearish on the IT and oil and gas sector in March – between these two sectors, they <a href="https://www.businessinsider.in/stock-market/news/fpis-offload-it-oil-gas-stocks-worth-13734-crore-in-march/articleshow/99375107.cms">sold equities worth ₹13,734 crore. </a> Analysts expect pain to continue till end of 2023 Considering the macro economic challenges like high inflation, interest rates and banking crisis in the US and European regions, analysts expect it will be a watchful few quarters for the IT sector. "The biggest issue in the IT sector is growth slowdown and possibility of recession. So, as long as the slowdown persists and global growth remains uncertain, the market will expect lesser order flow, slower execution and pricing challenges. All these three factors will lead to IT companies suffering and valuations may also not expand. Investors will have to remain watchful for one to two quarters till there is some clarity on the global growth scenario," Deepak Jasani, head of retail research at HDFC Securities told Business Insider India. The IT majors’ recently-posted fourth-quarter results and FY24 growth predictions tell their own story about the sector’s ongoing struggles. For FY23, IT major Infosys reported a growth of 15.4% in constant currency terms, lower than the guidance of 16-16.5% that it had given <a href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms">at the end of Q3</a>. Besides, it guided for a 4-7% revenue growth in FY24. This is the first time since FY16 that Infosys has guided for single-digit revenue growth in constant currency terms. Bigger rival Tata Consultancy Services (TCS) reported a 11-quarter low constant currency revenue growth at $7.2 billion in Q4. TCS’ outgoing chief executive officer Rajesh Gopinathan said in a post-earnings conference that the company is seeing stress in one of its largest markets, North America. The recovery that the company had expected had not yet materialised. According to Sanjeev Hota, vice president, head of research at Sharekhan BNP Paribas, told Business Insider India, the macro uncertainty faced by the sector is unlikely to get better before 2-3 quarters. “(For) the entire calendar year, things look dicey and the industry may witness some kind of stability by the fag end of this year. US, North America, which are among the biggest markets for the sector, are not expected to improve in the near term." Banking crisis could impact June-quarter earnings The global growth slowdown has worked its way into the stock market performance of these companies with shares of the entire IT pack being beaten down significantly in 2023. The Nifty IT index is down 30% so far this year compared to a 3% fall in the broader Nifty50 index. The IT companies in India faced the heat after the banking crisis in the US and Europe erupted in March, triggered by the collapse of Silicon Valley Bank and Signature Bank in the US and the turmoil at Swiss lender Credit Suisse. IT majors like TCS, Infosys and Wipro have also neared their 52-week low since March considering IT companies’ exposure to US banks amid the banking sector crisis. BFSI clients are among the Indian IT companies’ largest clients. "Most of the price damage in the IT stocks has already been done. However, outperformance of the sector from the current level seems restricted till global macro headwinds stabilises. The sector valuation multiple is driven by earnings growth and if growth tapers off, there are little chances of the (IT) stocks outperforming the broader market indices,” added Hota. He, however, recommends staggered buying in TCS among the large caps and Persistent Systems from the mid-cap stocks, for long-term investors. The lower-than-expected growth in March quarter for sector leaders Tata Consultancy Services (TCS), Infosys and HCL Technologies have underlined the ongoing slowdown. And analysts see this spilling over to the next quarter as well. “The banking crisis in US regional banks and European banks in March 2023 has induced greater caution and could impact the June 2023 quarter. We would not be surprised by a weak US performance across companies that are likely to report in the coming days,” said a report by Kotak Institutional Equities. Analysts at JP Morgan have also highlighted the weakness in banking, financial services and insurance (BFSI) and telecom verticals, which would impact Tech Mahindra and Mphasis as they have high exposure to these verticals. Stock movement of IT companies in 2023 so far <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock performance in 2023 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-19.55% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mphasis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Technology Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTIMindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coforge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.56% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.92% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.87% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Persistent Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.32% </td></tr></tbody></table>Source: NSE SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/insider-reviews/first-day-first-show-business-insider-sent-its-mystery-shopper-to-apples-flagship-store-in-mumbai-and-was-surprised/articleshow/99682868.cms">First day, first show: Business Insider sent its mystery shopper to Apple’s flagship store in Mumbai and was surprised</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-net-profit-grows-1-7-sequentially-at-4716-crore-in-q4-fy23/articleshow/99674353.cms">Reliance Jio Q4 net profit grows 1.7% sequentially to ₹4,716 crore; ARPU up marginally</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a>

India’s IT sector likely to face macro headwinds until end 2023, say analysts

<ul><li>Technology giants — <keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword>, <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> and <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> — are aggressively cutting jobs across levels. </li><li>French technology multinational Capgemini has axed almost 500 jobs in India to increase productivity. </li><li>Meanwhile, Infosys is expected to layoff almost 10% of its workforce — accounting for 12,000 jobs. </li><li>These layoffs comes on the back of ongoing job cuts in Cognizant. According to a recent announcement, as many as 7,000 mid and senior level jobs are on the line — accounting for 2% of its workforce.</li></ul>Technology giants — Capgemini, Infosys and Cognizant — are aggressively cutting jobs across levels as a cost cutting measure. French technology multinational Capgemini will layoff almost 500 jobs in India to improve productivity. And, the process has started. Over half of this company's workforce is based in India — with over 100,000 employees. “As an IT services company, our people are at the heart of our business and we are permanently rolling out widespread reskilling programs to build new capabilities that meet clients’ evolving digital transformation needs. The net headcount in India has continued to grow well with strong hiring year-on-year and our perspectives for 2020 look good too. Globally we also continue to increase our overall headcount was up 5.1% year on year,” the company said. There are departures, reskilling, reassignments and arrivals across the industry. The company claims to have reskilled over 51,000 people in 2019 so far. It skilled employees on emerging technologies — cloud, devOps, and big data. On the other hand, Indian IT major <a href="https://www.indiatoday.in/technology/news/story/infosys-cognizant-lay-off-mid-senior-level-job-cut-1615907-2019-11-05">Infosys</a> is expected to layoff almost 10% of its workforce — accounting for 12,000 jobs. The move will affect the senior and mid level employees. The company employs over 900 senior executives and up to 5% of them may be asked to resign from their posts, India Today reported. But the company has denied it. "As a high-performance organisation, involuntary attrition is integral to normal course of business and this should not be interpreted as any mass trimming across any level," Infosys <a href="https://www.moneycontrol.com/news/business/infosys-lays-off-thousands-of-mid-senior-level-employees-report-4606991.html">told</a> TOI. These layoffs comes on the back of ongoing <a href="https://www.businessinsider.in/careers/news/7000-cognizant-jobs-are-on-the-line-as-the-tech-major-rejigs-workforce/articleshow/71830898.cms">job cuts in Cognizant</a>. According to a recent announcement, as many as 7,000 mid and senior level jobs are on the line — accounting for 2% of its workforce. Nearly 5,000 employees will be redeployed into other job roles. This might also affect its workforce in India. “To improve cost structure to partially fund these investments and advance Cognizant’s growth agenda, it has made the decision to remove approximately 10,000-12,000 mid-to-senior level associates worldwide from their current roles in coming quarters,” Karen McLoughlin, CFO, Cognizant said. See also: <a href="https://www.businessinsider.in/careers/news/7000-cognizant-jobs-are-on-the-line-as-the-tech-major-rejigs-workforce/articleshow/71830898.cms">7,000 Cognizant jobs are on the line as the tech major rejigs workforce</a> <a href="https://www.businessinsider.in/policy/news/h-1b-visa-rejection-rates-rise-sharply-30-of-cognizant-capgemini-accenture-wipro-and-infosys-applications-denied/articleshow/71821596.cms">H-1B visa rejection rates rise sharply — 30% of Cognizant, Capgemini, Accenture, Wipro and Infosys applications denied</a> <a href="https://www.businessinsider.in/thelife/personalities/news/salil-parekh-infosys-ceo-profile/articleshow/71699382.cms">The Infosys clean-up under Salil Parekh seems to have come a full circle within 2 years</a>

Benching, firing and re-deploying — the story of 20,000 employees at tech majors

<ul><li>Infosys has announced that it will be buying back shares for a maximum of ₹1,750 apiece, which is a 25.2% premium over the prevailing share price in the market. </li><li>The IT giant also announced a dividend of ₹15 per equity share.</li><li>Companies buy back shares in the market, at a price higher than what is prevailing in the market, usually to signal confidence in the future prospects or to say that the shares are undervalued.</li></ul>Shareholders of Infosys, one of India’s top five information technology (IT) companies, have a reason to rejoice today, even as markets remain closed. The tech behemoth announced a buyback of equity shares worth ₹9,200 crore and will be doling out a dividend of ₹15 per equity share. However, this time around, it's not a tender buyback but an open market buyback. This means ₹1,750 is the ceiling price, but that the shares could be bought back for a lesser price. The quantum of shares that are bought back will be determined accordingly. That’s over $2 billion in buyback and dividend for its shareholders this quarter. Analysts had predicted that the shares would go for anywhere between a 10% to 15% premium and it seems Infosys landed on the higher end of the estimate. . The buyback price of ₹1,750 per share is a 25.2% premium to the closing price on April 13. <div type="Article" hostid="261" msid="82049122" title="Analysts estimate that Infosys may offer buyback of shares at ₹1,600 to ₹1,650 apiece" mstype="2" mssubtype="0"></div> The plan is to buyback 52 million shares or 1.23% of the total paid up capital. <cmsannotation type="cmsannotation" annotationid="The company is rewarding shareholders after a good year" comment="subhead" text="The company is rewarding shareholders after a good year">The company is rewarding shareholders after a good year</cmsannotation> The company saw its revenue grow by 2% in January to March as compared to the previous quarter. And revenue from digital, now, officially accounts for more than half of the money that Infosys is bringing in. After a blockbuster second quarter, where the company brought in $7.13 billion in new deals, it was only able to $2.1 billion in the last three months. What’s the good news? The management expects the next 12 months to be even better. The annual growth guidance is for a 12-14% growth in revenue in dollar terms — without accounting for exchange rate fluctuations. That’s more than twice the 5% growth clocked in the year ending March 2021. <div type="Article" hostid="261" msid="82066467" title="Infosys had a great year but CEO Salil Parekh expects the next one to be more than twice as good" mstype="2" mssubtype="0"></div> If the uptrend for the IT services industry continues, shareholders can expect an even better buyback price next year. <h2 style="line-height:1.56;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;padding:26pt 0pt 8pt 0pt;"><cmsannotation type="cmsannotation" annotationid="Here’s why Infosys is buying back shares" comment="subhead" text="Here’s why Infosys is buying back shares">Here’s why Infosys is buying back shares</cmsannotation></h2>Companies buy back shares in the market, at a price higher than what is prevailing in the market, usually to signal confidence in the future prospects or to say that the shares are undervalued. However, since the Indian government announced that dividends will be taxable as per the effective rates for corporate shareholders — more commonly known as promoters — in July 2020, some companies have opted for the buyback route to save tax. Dividends are subject to ordinary income tax whereas share buybacks are taxed at a capital gains tax rate, which is lower. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Highest income tax slab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Short term capital gains tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Long term capital gains tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr></tbody></table> Correction: An earlier version of the story said that the buyback price was higher than expected. Changes have been made to clarify that the buyback price of Rs. 1750 is the maximum price. Since the company plans to buy its own shares from the open market, the price may even be lower at times. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/infosys-had-a-great-year-but-ceo-salil-parekh-expects-the-next-one-to-be-more-than-twice-as-good/articleshow/82066467.cms">Infosys had a great year but CEO Salil Parekh expects the next one to be more than twice as good</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapps-new-privacy-policy-doesnt-give-you-choice-and-could-limit-your-options-in-the-future-too/articleshow/82063830.cms">WhatsApp's new privacy policy doesn't give you choice — and could limit your options in the future too</a> <a href="https://www.businessinsider.in/science/space/news/indian-astronomers-spot-over-200-new-stars-in-the-pacman-nebula-and-51-of-them-are-yet-to-reach-adulthood/articleshow/82060301.cms">Indian astronomers spot over 200 new stars in the Pacman Nebula — and 51 of them are yet to reach adulthood</a>

Infosys will buy back shares at ₹1,750 in the open market

<a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka">Vishal Sikka</a> is confident about <a href="http://www.businessinsider.in/searchresult.cms?query=infosys">Infosys’</a> growth and said it will return to industry leading growth in FY17. 
 Sikka, during an investor conference in San Francisco, said <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> is witnessing <a href="http://www.businessinsider.in/Infosys-not-sure-of-an-impressive-Q3-hopes-to-bounce-back-in-Q4/articleshow/49815280.cms">faster-than-ever growth</a> in large customer accounts and is generating an average quarterly pipeline of $800-900 million from large deals. 
 
"Our growth in large accounts is quite encouraging. We have outperformed for the first time in many years, our large account growth rate has exceeded the growth rate of the company, which is quite encouraging. Our deal wins have improved dramatically and we're approaching $800-900 million a quarter in large deals. That's more than double of what we used to do," said Sikka. 
 
READ ALSO: <a href="http://www.businessinsider.in/Infosys-Vishal-Sikka-reveals-future-plans-will-aggressively-increase-automation-reduce-people/articleshow/51091032.cms">Infosys’ Vishal Sikka reveals future plans, will aggressively increase automation, reduce people</a> 
 
Under Sikka’s leadership, Infosys is meeting quarterly expectations and in this view his tenure was also extended with a fat pay hike. 
Infosys is targeting to become a $20-billion company by 2020. 
 
"We don't believe in sacrificing margins for growth. We are on track to get to industry-leading growth in the next financial year. We want to be a global leader in the new kind of IT services," said Sikka.

Infosys’ growth story is unstoppable and it may become a $20 billion company by 2020

New Delhi, Jan 10: Following are the top business stories of 10th January 2019, Friday. Infosys Q3 net up 23.7% at Rs 4466 cr; raises FY20 revenue outlook to 10-10.5%: Country's second-largest IT services major Infosys on Friday reported a 23.7 per cent rise in consolidated net profit at Rs 4,466 crore for the December quarter. 
 SIAM
2019 witnesses worst-ever decline in auto sales: The automobile industry recorded its worst-ever sales decline in two decades in 2019, with an unprecedented slowdown hampering vehicle offtake across segments, according to industry body SIAM. Industrial production grows 1.8 pc in Nov: The industrial output grew 1.8 per cent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector, showed government data on Friday.
 Rupee logs 4th straight gains, spurts 27 paise against USD: The Indian rupee continued its winning run for fourth session in a row, soaring 27 paise to settle at 70.94 to the US dollar as softening crude oil prices lifted forex market sentiments.
 Markets remain upbeat as Mideast tensions recede; earnings in focus: Equity markets closed in the green for the second straight day on Friday as investors looked beyond geopolitical turbulence and wagered on a positive start to the earnings season.
 Trai's latest tariff order to stifle content creation, hit growth: In an unprecedented move, top honchos from fiercely competitive TV broadcast industry on Friday came together against regulator Trai's new tariff order on Friday, saying pricing caps on channels will stifle content creation, impact jobs and pull down growth. Yes Bank independent director Uttam Agarwal resigns: Yes Bank's independent director Uttam Prakash Agarwal has resigned citing "serious concerns" on "deteriorating practices" and the state of affairs at the private sector lender.

Infosys Q3 net profit up 23.7% and 6 other top business stories of 10th January 2019

If you think <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>’s prolonged search for the next <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> is getting a bit nutty, especially with a disgruntled <keyword id="62333" type="PERSON" weightage="60" keywordseo="Steve-Ballmer">Steve Ballmer</keyword> waiting on the sidelines to hand over the mantle, you are not far from the truth. But then, that is the actual state of the coveted C-Suite nowadays – volatile is the right word if you want to sum it up. There is no job security at the top and even the best performer for years can get redundant within the span of a few weeks. The issues could be many – right from <keyword id="646347" type="UNKNOWN" weightage="100" keywordseo="poor-performance">poor performance</keyword> to <keyword id="610960" type="UNKNOWN" weightage="100" keywordseo="business-restructuring">business restructuring</keyword> to alleged <keyword id="6375736" type="UNKNOWN" weightage="100" keywordseo="corruption-charges">corruption charges</keyword>. But the biggest factor is relevance, a perfect future-fit that can take companies ahead, according to <keyword id="67736" type="UNKNOWN" weightage="100" keywordseo="Industry-experts">industry experts</keyword>. In a difficult <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, companies are compelled to twist and turn to keep track of profitability and their requirements change accordingly. Hence, their leaders have to adapt, shape up or ship out, as the case might be. 
 India is no exception and business leaders across the country have been frequently ‘released’ by industry giants. Many of them leave with ‘immediate effect’ while others are on garden leave or worse still, waiting for their predecessors to turn up (just like Ballmer). Yet, most of the C-Suite executives are tight-lipped about their departures, at least here in India. We are yet to come across an announcement like the one made by <keyword id="384914" type="PERSON" weightage="60" keywordseo="Groupon">Groupon</keyword>’s founder and former CEO <keyword id="488139" type="PERSON" weightage="60" keywordseo="Andrew-Mason">Andrew Mason</keyword>. But exit happens all the same – be it discreet or blatant. Here’s a quick look at some of the top-notch C-Suite executives from India who parted ways with their respective companies in 2013, their official exit lines and what happened behind the scene.

Strife At The Top: These
11 C-Suite Execs From India
Were ‘Let Go’ In 2013

<ul><li><keyword id="10862" type="COMPANY" weightage="20" keywordseo="Wipro">Wipro</keyword> — the fourth largest IT services company in India — is planning to promote its 5,000 employees, thanks to the increasing attrition rate during the second quarter. </li><li>The company also rolled out a retention bonus of nearly ₹100,000 to its fresh campus hires. It also offered bonuses to employees with upto three years of experience. </li><li>Wipro added nearly 6,603 employees during the second quarter, taking the headcount to 181,453 from 174,850 in the last quarter. </li><li>The software major reported a net profit of ₹25.5 billion for the second quarter of 2019-20 fiscal. </li></ul>Wipro — the fourth largest IT services company in India — is planning to promote 5,000 of its employees, to check its increasing attrition rate. The technology giant recorded an attrition rate of 17% for the quarter ending in September. “Attrition (rate) has been a good story for us as compared to others. We have given salary hikes and now are looking at a huge number of promotions in the coming quarter. Around 5,000 people in the experience range of five to eight years will get promoted," Saurabh Govil, HR head, Wipro <a href="https://www.business-standard.com/article/companies/wipro-plans-to-promote-around-5-000-employees-to-check-attrition-119102100017_1.html">told </a>Business Standard. The company also rolled out retention bonus of nearly ₹100,000 to its fresh campus hires and those with upto three years of experience. “Junior-level attrition is slightly higher than the company average. However, it is lower among performers as they get higher bonuses, incentives and salary hikes," Govil added. While auto and textile sectors face troubled waters leading to job losses, the IT sector seems to be rebounding with a positive hiring sentiment. Wipro added nearly 6,603 employees during the second quarter, taking the headcount to 181,453 from 174,850 in the last quarter. The three IT giants — <keyword id="6357150" type="DOMAIN" weightage="20" keywordseo="tcs">TCS</keyword>, Wipro and <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> — collectively hired 28,157 employees in the quarter ending September. This is a 59% jump from that of the June quarter, which recorded a net hiring of 16,687 employees, Businessline <a href="https://www.businesstoday.in/current/corporate/tcs-infosys-wipro-hire-28000-employees-september-quarter/story/385196.html">reported</a>. Wipro is also planning to hire more consultants so as to drive sales in the coming quarters. “We are hiring more people in this consulting space. It is paying us back, well," he said. The software major reported a net profit of ₹25.5 billion for the second quarter, registering a 35% growth as compared to last year. See also: <a href="https://www.businessinsider.in/thelife/personalities/news/top-10-tech-billionaires-on-the-forbes-list-of-100-richest-indians/articleshow/71539382.cms">Top 10 tech billionaires on the Forbes list of 100 richest Indians</a> <a href="https://www.businessinsider.in/changing-technology-and-financial-crisis-is-affecting-sustainability-says-a-un-report/articleshow/71307065.cms">Changing technology and financial crisis is affecting sustainability says a UN report</a> <a href="https://www.businessinsider.in/azim-premji-gives-more-the-charity-than-his-net-worth/articleshow/71306177.cms">India’s richest tech billionaire has given away more money than what he has right now</a>

Wipro is giving promotions and bonuses to check growing attrition

The <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> closed at an all-time high of <a href="https://www.google.com/search?q=sensex&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=sensex&amp;aqs=chrome..69i57j69i60j0j69i61l2j0.2417j0j7&amp;sourceid=chrome&amp;ie=UTF-8">39,084 points </a>yesterday, as strong expectations of a rate cut and continued liquidity support by the Reserve Bank of India along with a surge in foreign portfolio investments drove a week-long rally. By the end of this year, the Sensex would have been in operation for 33 years. The index of the 30 largest stocks on the Bombay Stock Exchange first came into being in 1986 with 1979 being set as its base year. The title itself is a combination of the words “sensitive” and “index”. These were the original companies when the Sensex was first compiled. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">ACC </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Kirloskar Cummins </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ballarpur Industries </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Premier Automobiles </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Century Textiles </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Hindustan Motors </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Bombay Dyeing </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Mahindra &amp; Mahindra </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Reliance Industries </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Mukand Iron </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Grasim </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Bharat Forge </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Indian Rayon </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Guj. State Fertilizers </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Great Eastern Shipping </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Indian Organics </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Siemens </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Hindustan Lever </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Peico Electronics </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">GSK </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Tata Power </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Nestle </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Tata Steel </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Ceat </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Hindustan Aluminium </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Voltas </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Tata Motors </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Indian Hotels </td></tr><tr><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">Larsen &amp; Toubro </td><td style="border-left:solid #000000 2.25pt;border-right:solid #000000 2.25pt;border-bottom:solid #000000 2.25pt;border-top:solid #000000 2.25pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;">ITC </td></tr></tbody></table> These were largely industrial companies, the leaders in sectors like metals, chemicals, cement and engineering. In fact, 27 of these companies were manufacturers. There wasn’t a single technology company or bank. In July 1990, the Sensex finally reached <a href="https://economictimes.indiatimes.com/markets/stocks/news/digest-this-sensex-grew-390-times-in-40-years/tracing-the-growth-timeline/slideshow/68685220.cms">1000 points</a> after starting w<keyword id="6354185" type="UNKNOWN" weightage="20" keywordseo="IT">it</keyword>h 100 points in 1979. It reached the 3000 point mark in January 1992. But how? 
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 In December 1991, financial <keyword id="150139" type="PERSON" weightage="20" keywordseo="liberalisation">liberalisation</keyword> happened. The reforms ushered in by the Congress government - at the behest of the World Bank and IMF - led to a dismantling of foreign investment and trade restrictions, a deregulation of capital markets and also made the economy more service-oriented. The Sensex started the year 2000 at just over <a href="https://www.google.com/search?q=sensex&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=sens&amp;aqs=chrome.0.69i59j69i60l3j69i57j69i61.829j0j7&amp;sourceid=chrome&amp;ie=UTF-8">5,400 points</a> and since then has amassed nearly 34,000 points, crossing 10000 points in February 2006 amid a boom in global commodity markets, and 20000 points in December 2007. Growth slowed down amid the <keyword id="6371665" type="UNKNOWN" weightage="20" keywordseo="financial-crisis">financial crisis</keyword> and the sluggishness of the UPA-II tenure. In fact, as a result of the global financial crisis struck, the Sensex went back to 9,328 points by the end of 2008. However, aided by monetary easing and liquidity support from central banks in developed countries, the index recovered slowly in the years since the financial crisis. It finally crossed the 25000 point mark in May 2014 after the BJP won national elections. The index crossed the 30,000 mark less than a year later and 35,000 mark in January 2018. As of today, a mere 7 stocks that were on the index at the point of its inception have remained. These are <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries, ITC, HUL, Larsen &amp; Toubro, Mahindra &amp; Mahindra, <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Motors and Tata Steel. But what changed since the Sensex was first compiled? It incorporated companies from service industries like banking, telecom and IT while scrapping failing ones like Ballarpur Industries, a paper manufacturer whose product sales lagged owing to increasing digitisation, and Great Eastern Shipping. The rapid development of the information technology (IT) industry in the late 90s and early 2000s saw stocks like Infosys and TCS entering the index, replacing older companies. More significantly, banks and financial services companies make up a third of the stocks on the index - an indicator of the credit boom that has fuelled private investment and consumption by a rising middle class. As a result of liberalisation, India’s largest companies are less dependent on domestic sales and have been deriving a larger bulk of their revenues from <keyword id="35090" type="COMPANY" weightage="20" keywordseo="exports">exports</keyword>. While companies like Infosys benefitted from the IT outsourcing boom, automobile manufacturers like Tata Motors ventured into developed markets like the UK, <a href="https://www.tatamotors.com/press/tata-motors-completes-acquisition-of-jaguar-land-rover/">closing big acquisitions in the process. </a> 
 
 
 
 
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/digital-india-mckinsey-report-analysis-of-indias-digital-economy/articleshow/68686474.cms">India is digitising fast but the pace is leaving many behind</a> <a href="https://www.businessinsider.in/india-to-overtake-the-uk-in-the-rankings-of-the-worlds-largest-economies-thanks-to-brexit/articleshow/67188514.cms">India may become the world's fifth largest economy in 2019: Report</a>

The story of Sensex since its inception in 1986 is the story of India’s economy

<ul><li><keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> tops the Brand Finance India 100 Index in 2019 with brand value increasingly by 37% from last year. </li><li>India's biggest banks — State Bank of India (SBI) and HDFC Bank — also made the cut to feature in the top 10. </li><li>Anil Dhirubhai Ambani Group (ADAG) showed the biggest drop, falling 28 positions in the rankings with its brand value falling nearly 65%. </li></ul>The <a href="https://www.businessinsider.in/the-tata-group-has-two-airlines-and-two-more-to-choose-fromair-india-and-jet-airways/articleshow/70129384.cms">Tata Group</a> is India's most valuable brand according to Brand Finance India's top 100 list that's curated from a total of 5,000 companies. The group is one of India's largest with operations all over the world in over 100 countries. Government of India's <a href="https://www.businessinsider.in/lic-officials-under-investigation-by-sfio-for-role-in-ilfs-crisis/articleshow/69263029.cms">Life Insurance Corporation of India (LIC)</a> isn't even a close second with a brand value of $7.22 billion versus Tata's $19.559 billion. Even if you combine LIC's value with <a href="https://www.businessinsider.in/infosys-new-blockchain-banking-solution-doubles-its-partners-in-a-month/articleshow/64511303.cms">Infosys</a>, which came in third at $6.5 million — it's still less than that of the Tata Group. "Tata Group is to be commended for its ability to scale new heights, as it is not only India's most valuable brand, but has also recorded faster growth than any other top 25 brands, with an impressive 37% increase," states David Haigh, CEO of Brand Finance. <div type="image" title="unnamed" msid="70247447" hostid="261" caption="&amp;lt;p&amp;gt;Top 10 most valuable Indian brands 2019&amp;lt;/p&amp;gt;"></div>

 The newbies <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-speeds-up-its-broadband-plan/articleshow/70139677.cms">Mukesh Ambani</a>'s <a href="https://www.businessinsider.in/mukesh-ambani-s-reliance-retail-will-build-an-app-for-kirana-merchants/articleshow/70222354.cms">Reliance Jio</a> which is the fastest growing telecom company, has not made it into the top 10. But according to the Brand Strength Index (BSI) it's currently India's strongest brand. According to the report's methodology, the brand value is only one part of the story, which is how much the company would be worth in the open market. But, the other facet, is a brand's strength which is based on qualitative rather than quantitative measures to peg companies against their competition. The report explains that while Jio may not be the most valuable, it has a strong foundation in place with its <a href="https://www.businessinsider.in/two-years-on-reliance-jio-continues-to-dominate-indian-telecom-market-beating-global-giants/articleshow/67380627.cms">marketing investment</a>s, familiarity, <a href="https://www.businessinsider.in/heres-how-reliance-jio-is-planning-to-increase-its-user-base-and-it-will-definitely-work/articleshow/53298530.cms">loyalty</a>, staff satisfaction and, more importantly, corporate reputation. This is Jio's first time on Brand Finance's top 100 and its accompanied by five other brands debutantes — <a href="https://www.businessinsider.in/baba-ramdev-looks-to-conquer-the-fashion-world-with-patanjali-clothing/articleshow/63643970.cms">Patanjali</a>, Chennai Petroleum, Indian Overseas Bank, <a href="https://www.businessinsider.in/csd-the-most-profitable-retail-chain-in-india/articleshow/53738799.cms">DMart</a>, and Max Life Insurance. Banking boom This year's top 100 featured a total of 14 Indian banks. India's three largest banks — <a href="https://www.businessinsider.in/sbi-overstated-profits-for-3-years-reveals-rti/articleshow/70145021.cms">the State Bank of India</a> (SBI),<a href="https://www.businessinsider.in/hdfc-hiring-5000-professionals-with-annual-package-of-400000-includes-training-program/articleshow/70083666.cms"> HDFC Bank</a>, and <a href="https://www.businessinsider.in/how-icici-became-indias-biggest-bank-here-are-some-interesting-facts-about-the-bank/articleshow/53653276.cms">ICICI Bank</a> — led brand values in the sector with SBI coming in fourth and HDFC in sixth position. The upskilling at banks to integrate digital services like mobile banking and internet banking has helped banks keep pace with the competition. Heightened brand values are expected in the future as well as more is invested into bringing in new infrastructure, technology and innovative customer tools. Winners and losers The Mahindra Group featured in the top 5 for the very first time with its brand value appreciating by 35% to $5.2 billion. It has been working its way through the Indian market but also building in roads in more mature markets like the US, with its IT and financial services businesses. The Anil Dhirubhai Ambani Group (ADAG), on the other hand, fell by 28 ranks, losing 65% of its brand value. The steep drop in its value is attributed to a<a href="https://www.businessinsider.in/anil-ambani-adag-stocks-this-week-reliance-power-reliance-infrastructure-and-reliance-communications/articleshow/69773095.cms"> continuous erosion</a> in its shareholder value. Even with an illustrious last name, the group doesn't invoke the trust it once used to. See also: <a href="https://www.businessinsider.in/tcs-wipro-and-hcl-are-among-the-worlds-most-valued-it-brands/articleshow/67670849.cms">TCS is now the world’s third most valued IT service brand</a> <a href="https://www.businessinsider.in/these-are-the-top-10-most-valuable-brands-in-the-world/articleshow/69747256.cms">These are the top 10 most valuable brands in the world</a>

The Tata name is worth $19.5 billion — more than the brand value of LIC and Infosys put together

In <keyword id="6369763" type="PERSON" weightage="100" keywordseo="Vishal-Sikka">Vishal Sikka</keyword>’s leadership, <a href="http://www.businessinsider.in/articleshow/52202635.cms">Infosys</a> is doing one wonder after another. After it snatched away the bellwether tag from <a href="http://www.businessinsider.in/Indian-IT-firms-huge-bids/articleshow/51995134.cms">TCS</a> after a gap of four years, it is now going to do what nobody in the IT industry would have thought: replacing Cognizant to become number one. 
 
The 35-year old IT giant came to the number one position in the IT space within just 21 months of <a href="http://www.businessinsider.in/Here-is-how-Vishal-Sikka-has-become-the-man-Infosys-always-wanted/articleshow/51454896.cms">Sikka taking the charge</a>, but looks like the man is on some mission. 
Also read: <a href="http://www.businessinsider.in/Infosys-growth-story-is-unstoppable-and-it-may-become-a-20-billion-company-by-2020/articleshow/51252593.cms">Infosys’ growth story is unstoppable and it may become a $20 billion company by 2020</a> 
 
In addition to his achievements, one might also see that Cognizant's first quarter results were <a href="http://www.businessinsider.in/First-time-in-14-yrs-Cognizant-posts-slowest-quarter-due-to-volatile-markets-slow-spending/articleshow/52154916.cms">not that great</a>, with the company reporting its slowest quarterly revenue growth in 14 years at 10%. 
 This was the right strike time for <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>, which has pinned a revenue growth of 11.8-13.8% in constant currency terms for FY 2016-17. This way, it aims to beat Cognizant in revenue growth for the first time in 13 years and only the fifth time since 1996. 
 
If that happens, Infosys will become the fastest growing IT services company in the world, ahead of its bigger rivals like TCS and Cognizant. 
 
When talking of stock performance, Infosys has left Cognizant far behind, with its American depository receipt (ADR) growing 18% in the past 12 months on the NYSE. On the other hand, Cognizant has seen a mere 2.4% rise on the NASDAQ. 
 
"Over the years what has happened is that Cognizant growth rate is coming down from what it used to be a couple of years back. Earlier it used to be a good leading indicator. But as we have seen, the industry growth rate has been coming off over the years and the growth differential between Cognizant and performing leading Indian IT companies has reduced," Systematix VP Rahul Jain told ET. 
 
"To take a clear view of how the growth looks up for other Indian vendors compared with Cognizant, that comparison is becoming less and less relevant," he added. 
 
<a href="https://qzprod.files.wordpress.com/2015/07/rtr4kqhe.jpg?quality=80&amp;strip=all&amp;w=1600">Image source</a>

Infosys might soon replace Cognizant to become the industry leader

It's not always a job aspirant selling himself to the company, many a times, it also works the other way. Yes, Companies need to sell themselves to people too so that they attract the best talent available in the market. More often Indian companies don't do a great job with it. But one of them is pretty impressive. And yes, we are talking about <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword>! 
 
<a href="http://www.businessinsider.in/Infosys-growth-story-is-unstoppable-and-it-may-become-a-20-billion-company-by-2020/articleshow/51252593.cms">ALSO READ: Infosys’ growth story is unstoppable and it may become a $20 billion company by 2020</a> 
To start with, this is what this company lives by: "Innovation is a way of life - not an afterthought. This means we expect you to think the unthinkable and attempt the impossible every day. Will you fail in the process? Perhaps. But that's how we know you're doing something purposeful… something unprecedented and audacious. That's how we know you're going somewhere no one else has been, to discover and create something no one else has found or made." 
 
It's so unlike the boring, drab image we have of Indian companies even when we are trying to get into them for a career. Moreover, <a href="http://www.businessinsider.in/Here-is-how-Vishal-Sikka-has-become-the-man-Infosys-always-wanted/articleshow/51454896.cms">Infosys, </a>despite being one of India's top IT companies, feels responsible towards its potential candidates and has reached out by telling them why they should work with this company. So, you'd want to read this before you get down to applying for <keyword id="11018" type="COMPANY" weightage="20" keywordseo="Jobs">jobs</keyword>: 
 
1) You’ll work with new technologies, while they’re still new. We believe in staying ahead of the game and helping our clients do the same as well. Which is why, we employ the hottest, most cutting-edge technologies as soon as they’re made available - literally, from day zero. 
 
2) You can get trained by Harvard Whether you’re high up the career ladder or just starting out, the learning never stops at Infosys. One of the many steps we’ve taken to encourage the continuous growth of our employees is the Harvard Manage Mentor - a suite of 30 courses based on the Harvard Business School’s framework (Learn, Practice, Apply) that helps foster management skills. Think of it as a great opportunity to go back to school. 
 
3) You’ll learn to think like an entrepreneur No matter what your business card says, you’ll get to be more at Infosys. For starters, each of our employees is trained to develop an entrepreneurial mindset. This means, you learn to identify pressing problems around us all and work in your area of expertise to develop solutions that could not only be monetized for profits, but could potentially change the world. Anything less is simply unacceptable. 
 
4) You’ll look forward to attending your college reunion Let’s face it. College reunions are as much about catching up with old friends, as they are about learning how everyone’s doing. As someone who’ll be working with some of the most enviable brands and helping solve their business problems, college reunions will always be a pleasant affair for you. (For your old rival, perhaps not as much.) 
 
5) You can play ping pong at work Yes, you read that right. And ping pong is just one fun thing to do. That’s because with multiplex theatres, 16 libraries, 3 bowling alleys, 23 gyms, 16 shopping centers, 11 swimming pools, 8 cricket pitches, and 36 food courts (serving more than 40 types of cuisines) our campuses, in India, are great places to have a great time. (And you thought all we do is code.) 
 
6) You’ll get to do good You’ll do well for yourself surely, but you’ll also get a chance to do a little good for others. At Infosys, we believe that the distribution of wealth is as important as its creation. A strong sense of social responsibility is therefore an integral part of our value system. Infosys works hard at contributing to the society within which it functions and as a part of our organization, you can contribute to our CSR initiatives as well. 
 
7) You’ll get to be who you are No two people are alike - we get it. And love it. At Infosys, we welcome people with different passions, interests, ethnicities, nationalities, beliefs, and sexual orientations, because we believe each one of us has something unique to offer. So no matter who you are or what you like, you’ll never feel discriminated against. 
 
8) You’ll go on to make history If you’re someone who always goes beyond the call of duty, someone who doesn’t just do what’s asked of them, but does all that can be done, all that must be done to be purposeful, then Infosys is the place for you. Because here, with every product we make, we strive to make history - creating technologies that don’t just shape the future of industries, but shape the world. 
 
9) You’ll discover how to make work fun Beyond solving business challenges for some of the biggest brands, you also get to tinker with new ideas for fun. The Infosys Global Hackathon is one such platform, where you can experiment with rapid prototyping approaches, get hands-on experience with open source and proprietary software tools and technologies, and engage with other talented designers and developers, finding solutions in areas as diverse as air pollution mapping, robotics, health, smart devices, sensors, apps, drones, and automation, to name a few. 
 
10) You’ll never wait for the weekend Urban legend has it that no one at Infosys has suffered from the Monday morning blues yet. That’s because, we have over 100 hobby clubs at Infosys. So, you can discuss literature, jam with fellow musicians, and hone your photography skills while at work. So clearly, there’s no reason to pine for the weekend at the start of every week. 
 
(Credits: Infosys website)

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