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<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> has handed out more than Rs 14 crore in compensation to its four senior executives, thanks to stock-based incentives. The stock incentives shot up the total compensation of presidents Rajesh Murthy, Sandeep Dadlani and Mohit Joshi, and deputy chief operating officer Ravi Kumar S by over 50% in the previous fiscal year. As per the annual report of Infosys, the increase was mainly in the form of performance-based stock incentives that will vest over four years. The news comes after the tussle between Infosys founders and the board members over the pay packages is yet to be resolved. Infosys founder <keyword id="51793" type="ORGANIZATION" weightage="20" keywordseo="NR-Narayana-Murthy">NR Narayana Murthy</keyword> had expressed displeasure over the steep hike in compensation to chief operating officer UB Pravin Rao. In fiscal 2017, Rao's total compensation rose to Rs 11.80 crore from Rs 8.14 crore, including incentives. Also, last year, Infosys shareholders had questioned the pay hike given to CEO Vishal Sikka. Infosys has been battling a slew of issues - including questions on governance standards and slowing industry growth. Meanwhile, Infosys has also formed a 'committee of directors', which includes co-chairmen R Seshasayee and Ravi Venkatesan as well as board member DN Prahlad, that will support and advise the management in executing the company's strategy.

Infosys gave over Rs 14 crore in compensation to 4 senior executives

In a fresh turn of events, NR Narayana Murthy rubbished all reports citing that he has called off the battle with the <keyword id="675648" type="UNKNOWN" weightage="20" keywordseo="Infosys-Board">Infosys Board</keyword>. The <keyword id="637412" type="PERSON" weightage="20" keywordseo="Infosys-founder">Infosys founder</keyword> made it clear categorically that he has not dropped allegations regarding the hefty severance payouts to two former employees and governance issues at <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> Limited. 
 
"No, I have not withdrawn my concern. They (issues &amp; concerns) have to be addressed properly by the Board and full transparency should be given and people responsible for it should become accountable. The positive tweet by one of the directors is encouraging. They are all good intentioned people of high integrity but obviously being human even good people sometimes make mistakes This is one such case. But good leaderships demands that they listen to all concerned shareholders, re-evaluate their decision and take corrective action. I hope they take corrective action soon and improve governance for a better future for the company,” Murthy told ET. 
 
He also said that it is true that the board has collective responsibility for all actions but "we must remember that there is a special committee to look after senior management compensation and severance pay and hence, it is the responsibility of RNC to do a thorough analysis and for the Chair of that Committee to brief the board. It is the responsibility of the Chair of the board to review the decision of the RNC, and advise it if he or she sees any lacunae. If not, the Chair of the board must ensure that the Chair of RNC makes a presentation and that there is a discussion after that. Therefore, the primary responsibility for this lack of fiduciary responsibility lies only with the Chair of the RNC and the Chair of the board. They must accept responsibility and atone for it." 
 
"First is for the Chair of the RNC and the Chair of the board to accept their mistakes and show contrition. Second is to follow the good practices of pre-2014 Infosys and improve up on them. Third is for the board to consult from time to time experts,” he further told ET. 
 
Earlier, some agencies reported that Murthy said the Infosys board is made up of 'decent people; however, large payments can be confusing and need to be sorted out.

No, Narayana Murthy
hasn’t called off the battle with Infosys board yet

<ul><li>Indian government has banned over 250 <keyword id="6022999" type="UNKNOWN" weightage="20" keywordseo="chinese-apps">Chinese apps</keyword> over the last year, due to the geopolitical crisis with the neighbouring country.</li><li>The ban on Chinese apps impacted the short video segment the most, as it found itself in a void with the absence of top two players in the segment.</li><li>While many alternatives have emerged to give a tough competition to <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword>, any real competition to PUBG still does not exist.</li></ul>You can now find Vassundhara Pandita, a former TikTok creator, entertaining about 4.5 million users on <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s Sharechat-owned Moj app. Just like her, thousands of Indian creators have set their camps on different short video apps that came into existence in the past one year, after the government of India decided to ban <a href="https://www.businessinsider.in/tech/apps/news/checkout-the-name-of-the-chinese-banned-apps-in-india/articleshow/76696132.cms">59 Chinese apps</a> on this day (June 29). The banned apps not only included TikTok, the biggest short video platform in the world with a user base of 200+ million in India alone, but its alternatives Likee and Vigo as well. Vigo was owned by TikTok’s Chinese parent ByteDance that was supposed to be <a href="https://www.businessinsider.in/advertising/ad-tech/news/bytedance-shuts-down-vigo-video-in-india-to-focus-on-other-businesses/articleshow/76382018.cms">shut by October 2020</a> to direct users towards TikTok, but all these efforts were futile. This is how TikTok creators’ hunt began to find the perfect Indian alternative that would help them continue entertaining millions of users and keep the flow of income running. But the first priority on the list was to redirect their followers to other social media platforms, most popularly <keyword id="819905" type="LOCATION" weightage="20" keywordseo="Instagram">Instagram</keyword>. “I had to make short videos on my TikTok and YouTube [channels] to direct my followers to my Instagram handle,” says Vassundhara, who had more than five million followers on TikTok and goes by the username ‘@__vassundhara__’ on Instagram. As expected, Vassundhara and many other creators did lose their followers in this reshuffle, but thankfully finding the next stage turned out to be a little simpler. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">Indian digital businesses fill up TikTok void</h2> Well established digital businesses were already on to finding their way to dominate the Indian short video platform, which was suddenly left with a void with the exit of <a href="https://www.businessinsider.in/slideshows/top-ten-most-downloaded-apps-in-india/slidelist/72977234.cms">top two players </a>-- TikTok and Likee From Sharechat to Dailyhunt, MXPlayer, Gaana, Zee5, you name it and they were already set to launch their Made-In-India offering. A few months later, even YouTube and Instagram decided to grab on to this opportunity and launch their respective hypershots entertainment offering in India. So, the competition was on and it was a pretty hot one. But Indian platforms did fairly well for themselves in this highly competitive market. Just like TikTok, many of these Indian alternatives have set a monetisation practice in place for these creators. Each creator on these platforms, with a specific number of followers and reach, is paid a certain undisclosed amount. Besides this, they are also allowed to take any paid promotional partnerships in their personal capacity without having to share their income with the platforms. There are only three shortcomings to the Indian alternatives at the moment. First, the limited market compared to TikTok that had its presence across the globe. Second, the limited market is further divided among the rival brands. Third, the not-so-great technological innovation and user-experience. While Instagram may have these problems figured out by integrating Reels into their image and video app. However, it is not a great offering in terms of the monetisation aspect. It was much easier for a content to blow up on TikTok, given its artificial intelligence and machine learning algorithms. It also offered more in-depth insights into the audience. On the other hand, it is much more difficult to blow up content on Instagram. “Instagram has its plus points, but it's not offering much payout to influencers at the moment… Also Instagram, I think, is focusing on a more lavish life and a glamorous one with money. Unlike TikTok, we see only one or two videos from the rural parts of India on Instagram. Moj and other Indian apps, and even TikTok for instance, push such contents as well,” Vassundhara added. However, the Indian alternatives have replaced TikTok in the eyes of content creators at least. “If TikTok comes back to India, creators will still take some time to move to the platform. As you know, a lot of controversies have happened around TikTok in India like the <a href="https://indianexpress.com/article/entertainment/entertainment-others/carryminati-amir-siddiqui-youtube-vs-tiktok-6411239/">YouTube roast </a>or questions over its Chinese origin. People will take some time to understand this. By the time, creators will start going back to Moj or any other platform that may establish dominance,” Vassundhara said, adding the platform offers fair income to the creators from their end. Notably, TikTok may to make a comeback to the Indian market soon, as it has <a href="https://theprint.in/tech/tiktok-definitely-hopeful-india-ban-will-be-lifted-in-talks-with-govt-to-resume-operations/683916/">reportedly</a> started discussions with the government once again. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">India Yet To Find PUBG’s Alternative</h2>The Indian government’s attack on Chinese apps took down close to over 250 apps in the last one year. This also includes South Korean online multiplayer battle royale game PlayerUnknown's Battlegrounds (PUBG). PUBG had more than 175 million installations from India alone which accounted for 24% of the total installations worldwide. The ban on the online multiplayer battle royale game came due to its partnership with China-based Tencent Games. Tencent was PUBG Mobile’s licensed publisher in India. The duo ended their partnership in September 2020, and PUBG is now set to make a<a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-is-now-official-check-out-launch-date-downloads-and-more/articleshow/82427206.cms"> comeback</a> in India in a new avatar ‘BattleGrounds Mobile India’. The launch of BattleGrounds Mobile India may be subject to scrutiny as well, after a <a href="https://in.ign.com/battlegrounds-mobile-india/161110/news/battlegrounds-mobile-india-china-server-data-sharing-meity-government-meenakashi-lekhi">IGN India</a> report highlighted that the app was sending user data to China. Despite the spike in India’s e-sports segment over the last one year due to PUBG ban and Covid-19, there haven't been any direct replacements to PUBG Mobile India. Many users simply switched to the web version of the app, which was not banned. For PUBG Mobile India, Bengaluru-based nCore Games did come up with the one alternative -- Fearless And United Guards (FAUG) in September 2020. The company launched the beta version of the app earlier this week (June 27), but is yet to <a href="https://in.ign.com/fau-g-android/161446/feature/faug-team-deathmatch-map-gameplay-story-weapons-future-ncore-games">impress the Indian audience</a>. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">What other segments were disrupted due to the ban of Chinese apps?</h2> The ban on Chinese apps also promoted the Made-In-India sentiment that pushed users towards many Indian alternatives. For instance <keyword id="3518161" type="PERSON" weightage="20" keywordseo="koo">Koo</keyword> and Tooter were the first to arrive as the alternatives to US-based microblogging website Twitter. While Tooter was lost in the crowd, Koo has managed to set itself to a better start, at least. The one-year-old app already has about a third (<a href="https://www.business-standard.com/article/companies/will-double-headcount-lot-of-headroom-for-growing-user-base-koo-121050900174_1.html#:~:text=Koo%20has%20about%2060%20lakh,base%20and%20burgeoning%20Internet%20adoption.">6 million</a>) of Twitter's 17 million users in India. It has also raised about<a href="https://www.businessinsider.in/business/news/indias-micro-blogging-app-koo-raises-30-million-by-tiger-global/articleshow/82965589.cms"> $34 million</a> to date from marquee investors like Tiger Global Management, Accel, Kalaari Capital, and more. The platform is set to accelerate even further amidst Indian government’s ongoing tussle with Twitter. It has also made an<a href="https://qz.com/africa/2024107/nigerian-government-moves-to-indian-app-koo-after-twitter-ban/"> entry</a> into Nigeria after the Nigerian government banned Twitter last week. Even Indian ministers have<a href="https://www.deccanherald.com/national/it-minister-ravi-shankar-prasad-praises-koo-indias-alternative-to-twitter-950088.html"> praised</a> the app on many occasions. China-based document scanning and file storage app CamScanner, which found its biggest market in India with 100 million users, was also banned on June 29, last year. Since then, the app has been shadowed by another new popular option, Gurugram-based alternative Kaagaz Scanner. Launched in March 2020, the platform has over 5 million downloads and 1.7 million plus monthly active users. The platform has raised $575,000 last year from former <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> vice-chairman Kris Gopalakrishnan’s Axilor Ventures, Better Capital and Pravega Ventures. SEE ALSO <a href="https://www.businessinsider.in/policy/news/china-will-not-buy-iron-copper-aluminum-zinc-and-some-other-commodities-from-foreign-countries/articleshow/83565216.cms" data-type="tilCustomLink">China has decided to take global commodity bulls by their horns ⁠— to protect the profit margins of its small businesses</a> <a href="https://www.businessinsider.in/sports/news/soccers-most-expensive-young-player-missed-a-decisive-penalty-that-saw-reigning-world-champion-france-crash-out-of-euro-2020/articleshow/83940298.cms" data-type="tilCustomLink">Soccer's most expensive young player missed a decisive penalty that saw reigning world champion France crash out of Euro 2020</a> <a href="https://www.businessinsider.in/cryptocurrency/news/coinbase-ceo-brian-armstrong-says-the-goal-is-for-the-crypto-exchange-to-list-every-asset-that-is-legally-possible/articleshow/83937379.cms" data-type="tilCustomLink">Coinbase CEO Brian Armstrong says the goal is for the crypto exchange to list every asset that is legally possible</a>

One year of Chinese apps ban — Indian alternatives take over TikTok

<ul><li><keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword> will share its third-quarter earnings on January 17.</li><li>The quarter is seasonally weak of IT companies but analysts forecast strong growth for HCL Tech.</li><li>Key announcements to look out for are updates around large deal wins and trends for 2021.</li></ul>The third quarter is generally not the strongest quarter of the year for most IT companies. Earnings of Infosys, Mindtree, L&amp;T Tech and Wipro haven’t been able to undercut the trend. However, analysts have higher hopes for HCL Technologies. The stock market put the company at ₹585 today morning. It has been trading marginally in the red since. 
 
 
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 Niharika Ojha, an analyst with broking house Narnolia, believes that HCL’s software division and the ramp up of deals won in the second quarter will spell good news. “HCL Technologies is expected to post strong growth of 4.6% quarter-on-quarter in USD terms,” she forecasts. Nirmal Bang, is more cautious, predicting 2% growth in revenue. It believes that most of HCL Technologies revenue accretion will come from IBM products bought in the last quarter. DBS Vickers Securities agrees, forecasting quarterly growth of 1.9% HDFC Securities, however, feels that quarterly growth will be more muted. “Revenue expected at ₹$2,522 — a growth of 1.5% over the last quarter and 14.6% on a yearly basis,” says the report. It points out that while large deals were struck in the second quarter, but large transformational deals have decelerated during the first half of 2020, as compared to 2019. What to watch out for Last quarter, HCL Technologies revised its guidance for revenue growth to 15-17% in constant currency terms. “It now expects organic growth to be 10-11% and inorganic growth of 6% for FY 20,” explains Ojha. This quarter, analysts are hoping for a revision on profit margin guidance from the current 18.5-19.5%. For the third quarter, margins are expected at 19.5% in light of on-boarding new IBM employees balanced against higher amortization and rupee depreciation — a drop of around 0.5% over last quarter. Nirmal Bang will watch out for “any commentary on macro-headwinds, especially with respect to engineering services being provided to semiconductor players who have been hit particularly hard because of the US-China trade tussle.” Ojha believes any growth in engineering and R&amp;D services will be supported primarily by Sankalp Semiconductor. Performance of HCL software business, deal wins, and outlook for 2021 are the expected updates during today’s earnings call. See also: <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-tech-mahindra-infosys-wipro-q3-2020-earnings/articleshow/73169254.cms">HCL Tech and Tech Mahindra may post better earnings as Euro bank crisis affects Infosys, Wipro</a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-earnings-report-muted-quarterly-growthly-of-1-in-q3-2020/articleshow/73190620.cms">Infosys has raised full-year growth guidance⁠— the stock market was a step ahead of it</a> <a href="https://www.businessinsider.in/business/corporates/news/us-iran-tensions-strengthen-dollar-giving-boost-to-indian-tech-stocks/articleshow/73081294.cms">US - Iran tensions strengthen dollar giving boost to Indian tech stocks</a>

Here's why analysts expect HCL Tech will outperform TCS, Infosys, and Wipro

One thing which is clear from the ongoing tussle between <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> founders and board members is the battle also involves core values. Infosys co-founder <keyword id="6355623" type="PERSON" weightage="20" keywordseo="Narayana-Murthy">Narayana Murthy</keyword> certainly values governance practices than anything else. Murthy, who has been awarded the <keyword id="207726" type="PERSON" weightage="20" keywordseo="Thomas-Jefferson">Thomas Jefferson</keyword> Foundation medal, at the Darden School of Business (University of Virginia) highlighted fairness, values and accountability. "I want a stone on my grave that says: 'This was a fair person'," Murthy said. Speaking on social responsibility of corporations, Murthy said, “Every decision made by corporate leaders should first pass the basic filter of: Will this decision enhance respect for my company from society and will it enhance respect for me from my employees? If such questions became fundamental to corporate decision-making, society will be happier and healthier," said Murthy. He said whosoever wants a position at Infosys, he/she must have two values:"intellect and values. Nothing else."

These 2 qualities will land you a job at Infosys. Find out

<div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://en.wikipedia.org/wiki/File:VishalSikkaSapphireOrlando2010.jpg">Flickr/Gregor Wolf</a>Vishal Sikka</div></div></div>Well that didn't take long. Vishal Sikka, who just left SAP last month, has surfaced at a new company. He <a href="http://www.infosys.com/newsroom/press-releases/Pages/ceo-announcement.aspx">is the new CEO of Indian outsourcer Infosys.</a>
Last month, German software giant SAP shocked the world when it announced that Sikka <a href="http://www.businessinsider.com/sources-why-vishal-sikka-left-sap-2014-5">was suddenly leaving the company</a>. Sikka was its star engineer and creator of HANA, the database product that SAP has bet its future on.
Sources told Business Insider that a few things led to his departure: When the company moved from its dual-CEO structure to a single CEO in charge, Sikka was hoping for a big promotion akin to a co-CEO role and that didn't happen. (Bill McDermot took over as CEO. Former co-CEO Jim Hagemann Snabe moved onto one of SAP's powerful leadership boards).
We also heard that there was a tussle inside SAP between its American executives, of which Sikka was a prominent member, and its German contingent over how fast to invest in new technologies like the cloud. Some of that was documented in an article about Sikka in <a href="http://www.e-3.de/artikel/doppelspitze/">German magazine DAS E-3 </a> and <a href="http://vishalsikka.blogspot.com/">a personal blog post, </a><a href="http://vishalsikka.blogspot.com/">not sanctioned by SAP</a><a href="http://vishalsikka.blogspot.com/">, that Sikka wrote in response,</a> blasting the article.
So Sikka left SAP.
And now he's going to try and fix Infosys, the iconic but troubled tech company in his native land of India.
Infosys is <a href="http://www.businessinsider.com/most-valuable-enterprise-tech-companies-2014-5%20">one of the most valuable enterprise tech companies in the world</a> with a market cap of roughly $30 billion.
For years, Infosys also reigned as one of the most admired companies in India. But slower growth compared to its competitors has caused employees and managers to leave in droves. The company has also been looking for a new CEO for about a year too. Attrition reached 18% by the end of March and more than 11 senior executives have left in the past year, the <a href="http://online.wsj.com/articles/infosys-names-vishal-sikka-new-ceo-1402546764">Wall Street Journal reports.</a>
Wall Street analyst Tom Reuner at Ovum tells Business Insider in an email comment, "Sikka will be the first CEO that is neither part of the founding generation nor an insider from Infosys. Sikka was highly regarded within SAP and his remit was to foster innovation. ... This mindset could be conducive to lead Infosys back to its past glory. ... Sikka's task is a daunting one. We envisage a bumpy road ahead."

Vishal Sikka, SAP's Former Star Engineer, Has Landed The CEO Job At Troubled Indian IT Firm Infosys

Mumbai, Jan 7 () The BSE benchmark Sensex recovered by 192.84 points and the NSE Nifty reclaimed the 12,000 level on Tuesday as no fresh aggressive moves from the US and Iran helped crude prices ease.
 After rallying 553.51 points during the session, the 30-share BSE index ended 192.84 points, or 0.47 per cent, higher at 40,869.47.
 Similarly, the broader Nifty rose 59.90 points, or 0.50 per cent, to finish at 12,052.95.
 In the Sensex kitty, Ultratech Cement was the top gainer, rising 2.10 per cent, followed by HDFC Bank, Reliance Industries Sun Pharma, NTPC and Asian Paints.
 On the other hand, Infosys, ICICI Bank, Bharti Airtel, Nestle India, Hero MotoCorp and PowerGrid ended in the red.
 According to traders, domestic investors followed global stocks that rebounded after a day of no escalation in the US-Iran tussle.
 The Pentagon on Monday distanced itself from US President Donald Trump's assertions that he would bomb Iranian cultural sites despite international prohibitions on such attacks.
 Iran's parliament, meanwhile, passed a bill on Tuesday designating all US forces "terrorists" over the killing of a top Iranian military commander in a US strike last week.
 Brent crude oil futures slipped nearly 0.26 per cent to USD 68.73.
 The rupee appreciated 10 paise against the US dollar to 71.83 (intra-day).
 Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended significantly higher. European markets were also trading on a positive note in early sessions.
 Investors, however, turned cautious ahead of the release the first advance estimates of the GDP for FY20 scheduled to be released later in the day. ANS
MKJ

Sensex rebounds 193 pts; Nifty reclaims 12K

Mumbai, Jan 7 () Equity benchmark BSE Sensex rebounded nearly 500 points in opening session on Tuesday as global investors calmed on no further escalation in the mid-east tensions.
 After hitting a high of 41,135.47, the 30-share BSE index was trading 450 points or 1.11 per cent higher at 41,126.63. Similarly, the broader NSE Nifty rallied 132.25 points or 1.10 per cent to 12,125.30.
 HDFC Bank was the gainer in the Sensex pack, rallying up to 2.16 per cent, followed by IndusInd Bank, Relaince Industries, Tata Steel, SBI and Axis Bank.
 On the other hand, Tech Mahindra, TCS, Infosys and HCL Tech were trading in the red.
 In the previous session, the 30-share gauge ended at 40,676.63, dropping of 787.98 points, or 1.90 per cent. Similarly, the Nifty closed at 11,993.05, falling by 233.60 points, or 1.91 per cent.
 Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 103.84 crore, and domestic institutional investors offloaded shares worth Rs 23.70 crore on Monday, data available with stock exchanges showed.
 According to traders, domestic investors followed Asian stocks that rebounded after a day of no escalation in the US-Iran tussle.
 The Pentagon on Monday distanced itself from US President Donald Trump's assertions that he would bomb Iranian cultural sites despite international prohibitions on such attacks.
 Following the news, Brent crude futures fell 1.20 per cent to USD 68.08.
 Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading in the green.
 Exchanges on Wall Street too ended on a positive note on Monday.
 Meanwhile, the rupee appreciated 20 paise to 71.73 against the US dollar in morning session. ANS
ANS

Sensex recovers 500 pts; Nifty above 12,100

<ul><li>The 30-share BSE index Sensex was down 100 points, and the NSE Nifty was trading 0.25% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Tuesday, tracking losses in index majors Reliance Industries, ICICI Bank and Infosys amid negative cues from global markets. The 30-share BSE index Sensex was down 100 points, and the NSE Nifty was trading 0.25% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <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;">Kotak Mahindra 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;">Adani Ports </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;">NTPC </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;">IOC </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;">Shree Chem </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;">ONGC </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;">Nestle India </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;">GAIL </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;">Asian Paints </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;">IndusInd Bank </td></tr></tbody></table>*as of October 27, 10:00 am These are the top stocks in news today. <keyword id="46013" type="CITY" weightage="20" keywordseo="Kotak-Mahindra-Bank">Kotak Mahindra Bank</keyword> up over 8% The shares of Kotak Mahindra Bank were trading 8% higher. Double boost coming in for this banking stock on back of brokerage upgrades post the second quarter earnings. Also, the announcement of MSCI sectoral cap changes bodes well and could mean an inclusion in the index. NTPC trades 3% higher The shares of National Thermal Power Corporation (NTPC) gained over 3% ahead of the board meeting on November 2 to consider the share buyback plan. <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> zooms over 12% The shares of the recently listed broker, Angel Broking zoomed over 12% after the company posted the highest ever quarterly profit-after-tax at ₹74 crore for the quarter ended September 30. The company in its regulatory filing said its total income grew 29% to ₹317 crore for the quarter under review. <keyword id="127124" type="CITY" weightage="20" keywordseo="DHFL">DHFL</keyword> locked in 5% lower circuit The shares of DHFL were locked in a 5% lower circuit in minutes after opening on Tuesday. The downturn came after lenders of debt-ridden DHFL have asked the four bidders to get back with a revised offer by October 31 as part of the on-going resolution process. The four bidders include Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy. Reliance Industries and <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> trade in red The shares of Reliance Industries and Future Retail were trading in red as the tussle between Amazon, and Future Retail continued for the Reliance Retail deal. Reliance Industries (<keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword>) was trading 0.55% lower, and Future Retail was down 3%. The media <a href="https://www.indiatoday.in/business/story/future-group-liquidiation-reliance-deal-amazon-singapore-arbitrator-1735423-2020-10-27">reports </a>also claimed that if the RIL deal does not materialise, Future Retail may look at liquidation. <keyword id="112668" type="COMPANY" weightage="20" keywordseo="Finolex-Industries">Finolex Industries</keyword> open 6% higher The shares of the manufacturer of PVC water pipes, Finolex Industries gained over 6% after the company reported a 17% year-on-year (YoY) jump in net profit to ₹120 crore in September quarter. Cadila Healthcare trade a percent higher The shares of drugmaker Cadila Healthcare were trading nearly a percent higher after a media <a href="https://www.bloomberg.com/news/articles/2020-10-26/covid-vaccine-developer-in-india-plans-to-boost-capacity-by-70">report claimed</a> that the Indian drugmaker is in talks with potential partners to ramp up its indigenous COVID-19 vaccine development and production capacity. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-is-looking-to-expand-operations-in-canada-if-h-1b-visa-issues-persist/articleshow/78884838.cms" data-type="tilCustomLink"> EXCLUSIVE: HCL Tech is expanding operations in Canada as H-1B visa issues persist</a> <a href="https://www.businessinsider.in/business/news/bezos-vs-ambani-battle-eight-questions-regarding-amazons-disclosures-of-future-deal-will-be-in-the-spotlight/articleshow/78883583.cms" data-type="tilCustomLink">Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight</a> <a href="https://www.businessinsider.in/education/news/how-to-register-for-neet-counselling-2020-online/articleshow/78884869.cms" data-type="tilCustomLink">NEET counselling 2020 registrations begin today: Here’s all you need to know</a>

Top stock movers — Kotak Mahindra Bank, Future Retail, RIL, Angel Broking, DHFL, Finolex Industries, and others

With the state Assembly polls round the corner, the ruling LDF in Kerala on Wednesday got a shot in the arm as Kerala Congress(M) faction led by Jose K Mani decided to severe its decades old ties with the Congress-led UDF and work with the CPI(M)-led front in the state. Party leader Jose K Mani also said he would quit his Rajya Sabha membership, won with the support of the UDF. Announcing his faction's political position at a press conference here, Jose expressed hope that the LDF leadership will take a decision on his party's entry into the ruling front. Jose, son of veteran Kerala Congress (M) leader <keyword id="10105448" type="PERSON" weightage="20" keywordseo="late-k-m-mani">late K M Mani</keyword>, hailed the CPI(M)-led front's efforts to safeguard the secularism in the country. He also said the LDF government in the state was keen to work towards the welfare of the farming community, which is the core base of his party. Chief Minister Pinarayi Vijayan and leadership of the LDF were quick to welcome Jose faction's decision to cooperate with the front. In a statement, Vijayan said the KC(M) has taken a stand that LDF is the politically correct formation, ending its 38- year-old association with the UDF. The matters related to the party's LDF entry will be decided at the front's meeting, he said. Meanwhile, the UDF leadership flayed the move, saying Jose faction "backstabbed" the Congress-led front, which made him Rajya Sabha member. UDF convenor M M Hassan also said the Jose faction should quit all the parliamentary positions including <keyword id="10105447" type="PERSON" weightage="20" keywordseo="kottayam-lok-sabha">Kottayam Lok Sabha</keyword> seat won with the support of the Congress-led front. Justifying his decision to work with the LDF, he said the front has been relentlessly fighting against the growing communal forces in the country. Attacking the UDF leadership and a rival Kerala Congress (M) faction led by P J Joseph, Jose said a section in the Congress-led front "expelled" his faction from the UDF after a dispute arose over a post in a local body. The UDF humiliated the MLAs and leaders who stood by his late father K Mani, who built the UDF 38 years ago, he said. He also alleged that P J Joseph faction engaged in character assassination of the leaders of his faction. "The UDF leadership supported Joseph's bid to hijack the Kerala Congress (M). They (UDF leadership) did injustice to us," Jose alleged. Jose faction's issues with the UDF leadership aggravated in June this year after it was "ousted" from the Congress-led <keyword id="204591" type="COMPANY" weightage="20" keywordseo="United-Democratic-Front">United Democratic Front</keyword> (UDF) in connection with the tussle over the Kottayam district panchayat chief post. The UDF leadership had later rectified it saying the Jose group was not ousted from the front and it was only temporarily barred from the UDF meeting for refusing to honour an agreement made in public with the coalition front over sharing the Kottayam district panchayat president's post. "Technically Jose K Mani group is part of the UDF," UDF chairman and Leader of Opposition in the state Assembly Ramesh Chennithala had said in <keyword id="6357416" type="LOCATION" weightage="20" keywordseo="thiruvananthapuram">Thiruvananthapuram</keyword> recently. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-wipro-infosys-future-retail-airtel-irctc-srf-and-others/articleshow/78651966.cms">Top stocks to watch — Wipro, Infosys, Future Retail, Airtel, IRCTC, SRF, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a> <a href="https://www.businessinsider.in/science/news/a-spacecraft-flying-by-venus-on-wednesday-night-could-confirm-recently-found-signs-of-alien-life/articleshow/78646790.cms">A spacecraft flying by Venus on Wednesday night could confirm recently found signs of alien life</a>

Jose K Mani-led Kerala Congress (M) faction parts ways with UDF ahead of State Assembly polls

<ul><li>The <keyword id="1707862" type="PERSON" weightage="20" keywordseo="ban-on-Chinese-apps">ban on Chinese apps</keyword> including PlayerUnknown’s Battlegrounds (PUBG), TikTok and others may be temporary since the legal order behind the move has not been public. </li><li>According to experts, it shows how the government is increasingly using the powers under Section 69A of the IT Act to address data protection concerns in the absence of data protection laws. </li><li>Experts also point out that while the current bans may appease the anti-China sentiment across the nation, Section 69A could just as well be used against other companies that don’t bend to the governments will. </li></ul>What is obvious is the reason behind the ban of 118 Chinese mobile apps⁠ — the rising tension along the border. What is not-so-obvious is where the Indian government derives its power to execute such a sweeping ban ⁠in the shadows on the absence of data protection laws. <div type="Article" hostid="261" msid="77890776" title="India bans PUBG, Ludo World, and 116 other Chinese mobile applications" mstype="2" mssubtype="0"></div> While India does have a <keyword id="2617070" type="PERSON" weightage="20" keywordseo="Personal-Data-Protection-Bill">Personal Data Protection Bill</keyword> in the works, it’s still waiting on parliamentary approval. For now, the government is using Section 69A of the Information Technology Act, 2000, which provides for procedural measures and safeguards against blocking orders. The larger question isn’t whether 59 apps have been banned or 118. If any app is sharing or using a user’s data in a way that’s not been disclosed — like the Indian government claims the Chinese mobile apps have been doing — they need tools to address the problem, which are currently absent in the Indian ecosystem. The need for proper data protection laws Using Section 69A of the IT Act is a mere stopgap measure, according to Mishi Choudhary, Legal Director of Software Freedom Law Center in New York. “The data protection law, conspicuous by its absence, has never been more important than now. We must ensure that people are protected and they are not reduced to pawns in the data game,” she told Business Insider. Today, one may be in favour of Section 69A being used to target Chinese companies due to the anti-China sentiment across the country. However, tomorrow, the same directive could be used to target others who do not bend to the government’s will. Even in the current ban, the entire list may only consist of mobile apps by Chinese companies, but the directive itself does not state that apps of a particular country are being targeted. <div type="ExtQuote" text="“In the interest of sovereignty and integrity of India, defence of India and security of the State. Using the sovereign powers, the Government of India has decided to block the usage of certain Apps, used in both mobile and non-mobile Internet enabled devices.”" auname="Statement by Government of India on ban of 118 Chinese apps on September 2"></div> It’s the government’s way or the highway Signs of government pressure on technology companies have already started to show. The most recent example is of India’s Supreme Court versus Prashant Bhushan. The US social networking giant Twitter ‘proactively’ removed Bhushan’s tweets even before there was a legal request in order to avoid a tussle with the government. <div type="Article" hostid="261" msid="77667757" title="Twitter's decision to 'proactively' remove Prashant Bhushan's tweets opposed by internet rights body" mstype="2" mssubtype="0"></div> India is already the fifth-highest in the world, asking Twitter to take down content as the latest edition of the Transparency Report. “This is the third banning direction. There is a clear trend towards a government preference of its use,” points out <a href="https://twitter.com/apar1984/status/1301159821761081351">Apar Gupta</a>, executive director of the Internet Freedom Foundation (IFF). No legal order has been made public, only a press release was issued by the Ministry of Electronics and Information Technology (MeitY). According to Tanu Banerjee, a partner at IndusLaw, this could mean that the ban is only temporary or interim in nature. India’s Personal Data Protection Bill is still pending parliamentary approval and, in its current form, gives the government unfettered access to data under the guise of ‘national security’ — a point that private companies and freedom of internet activists strongly contend. Regardless, once it comes into play, a blanket ban on apps will longer be the go-to option for the government. It will have to define how and why a company is in violation of India’s laws and hopefully deliver graded penalties rather than absolute prohibition. . SEE ALSO: <a href="https://www.businessinsider.in/india/news/pm-modi-twitter-account-hacked-heres-what-the-hacker-had-tweeted/articleshow/77902203.cms">Twitter account of PM Modi's personal website hacked — asks followers for Bitcoin and Ethereum donations</a> <a href="https://www.businessinsider.in/tech/enterprise/news/rise-in-work-from-anywhere-will-lead-to-more-outsourcing-thats-an-opportunity-for-tcs-infosys-and-hcl-tech/articleshow/77864248.cms">TCS, Infosys and HCL Tech have the most to gain from post COVID wave of outsourcing</a> <a href="https://www.businessinsider.in/tech/apps/news/india-bans-pubg-wechat-and-118-other-mobile-applications/articleshow/77890776.cms">India bans PUBG, Ludo World, and 116 other Chinese mobile applications</a>

Experts say the ban on PUBG, TikTok and other Chinese apps may be ‘temporary’ ⁠— until data protection law comes along

Mumbai, Jul 15 () The Sensex and Nifty surrendered most of the day's gains to end marginally higher on Wednesday, pressured by a fag-end selloff in heavyweight Reliance Industries. During the day, the 30-share BSE Sensex rallied 777 points, driven by positive sentiment across global markets on hopes of a COVID-19 vaccine. The index, however, made a U-turn in the last hour of trade and settled just 18.75 points, or 0.05 per cent, higher at 36,051.81. On similar lines, the NSE Nifty closed 10.85 points, or 0.10 per cent, up at 10,618.20, after soaring 220 points during the session. Reliance Industries (RIL) was the biggest drag on the Sensex, skidding 3.71 per cent after scaling its life-time high of Rs 1,978.50 (intra-day) as investors rushed to book profits amid a slew of announcements at its annual general meeting. RIL Chairman Mukesh Ambani said Google will invest Rs 33,737 crore to buy 7.7 per cent stake in Jio Platforms, completing RIL's capital-raising target for the digital arm. Ambani also announced Jio is developing a homegrown 5G telecom solution, but added that his group's planned stake sale in oil-to-chemical business to Saudi Aramco has not progressed as per the original timelines due to the COVID-19 crisis. Bharti Airtel, ONGC, IndusInd Bank, Bajaj Finance and SBI were also among the laggards, shedding up to 4.24 per cent. On the other hand, Infosys rallied 6.16 per cent ahead of its quarterly earnings. HCL Tech, TCS, Tech Mahindra, Axis Bank and HUL too ended with smart gains. According to traders, during majority of the session, domestic investors were enthused by hopes of a COVID-19 vaccine as two contenders began human trials in India and one US-based candidate successfully completed the initial phase of human trials. However, the fag-end selloff in RIL halted the rally, they said. "The stock price of Reliance has witnessed a decline towards the end of the AGM since most of the news was already priced in and there were not many surprises," said Nirali Shah, Senior Research Analyst, Samco Securities. Ajit Mishra, VP - Research, Religare Broking Ltd, added, "We're seeing a tussle between the bulls and bears for the last couple of sessions and we feel it would be healthy if the market witnesses some correction after the recent surge. However, the resilience of global markets would help the index to limit the downside." BSE IT, teck, FMCG, healthcare, metal and auto indices ended up to 4.89 per cent higher, while telecom, energy, oil and gas and realty indices lost up to 3.63 per cent. Broader BSE mid-cap and small-cap indices fell up to 0.35 per cent. World markets remained buoyant as positive results from a coronavirus vaccine trial by US-based Moderna enthused investors. Bourses in Hong Kong, Tokyo and Seoul ended with gains, while Shanghai closed in the red. Stock exchanges in Europe were also trading higher in opening deals. Meanwhile, international oil benchmark Brent crude futures rose 1.10 per cent to USD 43.37 per barrel. On the currency front, the rupee appreciated 27 paise to end at 75.15 against the US dollar. India saw a record single-day jump of 29,429 COVID-19 cases, pushing its tally to 9,36,181 on Wednesday, while the death toll climbed to 24,309 with 582 new fatalities, according to the Union Health Ministry data. ANS ABM ABM

Markets eke out gains in volatile trade; RIL selloff weighs

Mumbai, Jan 7 () Indian bourses too staged a recovery after two sessions of sharp losses on Tuesday, following somewhat calmed global markets as no further escalation in US-Iran tussle soothed investor nerves.
 At the closing bell, the BSE benchmark Sensex was 192.84 points or 0.47 per cent higher at 40,869.47. After opening the session on a bullish note, the 30-share gauge went on to touch a high of 41,230.14 in early deals -- rallying over 553 points during the session.
 Likewise, the broader Nifty closed 59.90 points or 0.50 per cent up at 12,052.95. The 50-share NSE barometer swung over 159 points during the day.
 On Monday, the domestic stock market had suffered its worst single-day loss in about six months.
 Signs of easing Iran-US tensions helped moderate global crude oil prices, in result prompting the Indian rupee to gain some lost ground.
 In the Sensex kitty, Ultratech Cement was the top gainer, rising 2.10 per cent, followed by HDFC Bank, Reliance Industries Sun Pharma, NTPC and Asian Paints.
 On the other hand, Infosys, ICICI Bank, Bharti Airtel, Nestle India, Hero MotoCorp and PowerGrid ended in the red.
 Sectorally, BSE realty, basic materials, energy, finance and metal indices rose up to 1.83 per cent; while telecom, teck, IT and consumer durables indices slipped up to 0.97 per cent.
 In the broader market, BSE midcap and smallcap indices rallied up to 0.99 per cent.
 "Iran is under pressure from world leaders not to escalate the issue further. Due to ease in tension in the Middle East, market recovered from yesterday's losses. Oil prices cooled as Iran a major crude exporter stayed away from retaliation. The first advance estimates for FY20 GDP by MoS is expected at 5 per cent which is already factored by the market, not impacting further," Vinod Nair, Head of Research, Geojit Financial Services, said.
 Brent crude oil futures fell by nearly 0.26 per cent to USD 68.73.
 The Indian rupee appreciated by 11 paise to 71.82 against the US dollar on Tuesday.
 Meanwhile, the Pentagon on Monday distanced itself from US President Donald Trump's assertions that he would bomb Iranian cultural sites despite international prohibitions on such attacks.
 Iran's parliament, meanwhile, passed a bill on Tuesday designating all US forces "terrorists" over the killing of a top Iranian military commander in a US strike last week.
 Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended significantly higher. European markets were also trading on a positive note.
 Investors, however, turned cautious ahead of the release the first advance estimates of the GDP for FY20 scheduled to be released later in the day. MKJ

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