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In a career spanning decades, <keyword id="19981455" type="General" weightage="100" keywordseo="ratan-tata" source="keywords">Ratan Tata</keyword> made some of the boldest and most transformative business decisions that redefined the way the <keyword id="19924335" type="General" weightage="20" keywordseo="tata-group" source="keywords">Tata Group</keyword> and Indian industry operated on a global scale. As we mourn the loss of the business titan, we celebrate the remarkable decisions that showcased not just his strategic brilliance but also his commitment to building a better world for everyone. <h2>Acquisition of <keyword id="19998365" type="General" weightage="20" keywordseo="jaguar" source="keywords">Jaguar</keyword> Land Rover (JLR) in 2008</h2>In 2008, <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword>, under the leadership of Ratan <keyword id="19904884" type="General" weightage="20" keywordseo="tata" source="keywords">Tata</keyword>, acquired Jaguar and Land Rover from Ford Motor Company for $2.3 billion. The acquisition was considered a high-risk move because Jaguar and Land Rover were struggling financially, and the global automotive industry was facing a downturn. Many analysts doubted the decision, questioning whether Tata Motors could turn the brands around. However, Ratan Tata believed in the potential of these iconic British brands and focused on revitalising their product line, improving quality, and investing in new models. His strategic vision paid off as JLR's sales surged in the years that followed, making it a profitable and prestigious part of Tata Motors. By 2015, JLR's success helped Tata Motors become India's largest automobile manufacturer. <h2>Launch of the Tata <keyword id="20123141" type="General" weightage="20" keywordseo="nano" source="keywords">Nano</keyword></h2>The Tata Nano, launched in 2009, was Ratan Tata's ambitious project to create the world's most affordable car, priced initially at just ₹1 lakh. The idea was to provide an affordable vehicle for Indian families who primarily used two-wheelers. Though it was hailed as a revolutionary product in terms of cost and innovation, the car faced multiple challenges, including safety concerns, branding issues, and production delays. Despite its commercial failure, the Nano represented a bold effort to disrupt the automotive industry by focusing on cost-effective engineering, lightweight materials, and fuel efficiency. The project highlighted Ratan Tata's commitment to inclusive innovation and making mobility accessible to the masses. <h2>Acquisition of Corus Steel in 2007</h2><keyword id="19950204" type="General" weightage="20" keywordseo="tata-steel" source="keywords">Tata Steel</keyword>'s acquisition of Corus Group, a British-Dutch steelmaker, for $12.1 billion was one of the largest overseas acquisitions by an Indian company. At the time, Corus was much larger than Tata Steel, which made the acquisition a transformative step for the company, catapulting it into the global league of steel producers. <div type="Article" hostid="261" msid="114104543" title="&amp;#39;Humble king who looked after his workers like children&amp;#39;: Bollywood reacts to Ratan Tata’s demise" mstype="2" mssubtype="0"></div>The decision was not without its challenges, as Tata Steel had to deal with economic downturns and fluctuating steel prices shortly after the acquisition. However, the move gave Tata Steel access to advanced technology, a broader product range, and new markets, significantly enhancing its global competitiveness. <h2>Emphasis on innovation and R&amp;D</h2>Ratan Tata's leadership was marked by a strong focus on innovation and research and development (R&amp;D) within the Tata Group. He encouraged companies across the group to invest in new technologies and foster a culture of innovation. For instance, Tata Motors developed the Tata Indica, India's first indigenously designed passenger car, and later worked on electric vehicles and hybrid technology. Tata Group companies also explored innovation in sectors like IT, chemicals, and steel. This emphasis on R&amp;D positioned the Tata Group to compete effectively on a global scale, offering unique and cutting-edge products. <h2>Globalisation of the Tata brand</h2>Ratan Tata's vision for the Tata Group involved expanding its presence beyond India and becoming a global entity. During his tenure, Tata Group made several high-profile international acquisitions, such as Tata Tea's purchase of Tetley in 2000, Tata Motors' acquisition of Daewoo Commercial Vehicles in 2004, and Tata Chemicals' acquisition of Brunner Mond in 2006. These acquisitions allowed the group to enter new markets, diversify its business portfolio, and reduce dependency on the Indian economy. This strategic globalisation not only increased the group's revenue but also enhanced its brand recognition worldwide. <h2>Focus on ethical business practices and CSR</h2>Ratan Tata is renowned for upholding high standards of ethics and corporate governance within the Tata Group. For example, he refused to engage in unethical practices during the infamous 2G spectrum scam in India, despite potential losses. His unwavering commitment to ethical principles helped build the Tata brand's reputation as one of the most trustworthy and respected in the business world, which continues to attract global partners and investors. <div type="Article" hostid="261" msid="114103006" title="Ratan Tata to be accorded state funeral, Maharashtra declares day of mourning to honour Tata Group chairman" mstype="2" mssubtype="0"></div>Ratan Tata also believed that businesses should play a significant role in social development. He institutionalised corporate social responsibility (CSR) within the Tata Group, channelling efforts towards healthcare, education, rural development, and sustainability initiatives. One notable example is the Tata Trusts, which focus on improving the quality of life in communities across India by supporting initiatives in healthcare, nutrition, water, sanitation, and education. <h2>Formation of <keyword id="19950203" type="General" weightage="20" keywordseo="tcs" source="keywords">TCS</keyword> as a major IT player</h2>Although Tata Consultancy Services (TCS) was founded before Ratan Tata took over, he played a pivotal role in its expansion during his leadership. Under his guidance, TCS grew from a relatively small division into one of the largest IT services companies in the world, focusing on software services, IT consulting, and outsourcing. Ratan Tata's strategy of investing in cutting-edge technology and tapping into the global demand for IT services transformed TCS into a significant revenue generator for the Tata Group, solidifying its position as a global IT leader. <h2>Navigating the 2008 financial crisis</h2>During the global financial crisis of 2008, the Tata Group faced multiple challenges, including liquidity crunches, declining revenues, and the need to manage its global acquisitions. Ratan Tata's astute financial management and strategic decision-making helped the group navigate this turbulent period. He focused on reducing debt, optimising operations, and prioritising the group's long-term sustainability. His emphasis on financial discipline and maintaining investor confidence helped the Tata Group emerge stronger from the crisis while continuing its global expansion. <h2>Decision to remove Cyrus Mistry as Chairman of <keyword id="19991117" type="General" weightage="20" keywordseo="tata-sons" source="keywords">Tata Sons</keyword> in 2016</h2>In October 2016, Ratan Tata made the bold and controversial decision to remove Cyrus Mistry from his position as chairman of Tata Sons, the holding company of the Tata Group. The decision was driven by concerns about Mistry's strategic direction, alleged lack of communication with the Tata Trusts, and differing views on several key issues, such as handling underperforming businesses and asset sales. Mistry's approach, which included selling non-core assets and reducing debt, was seen by some as a shift away from the group's traditionally long-term and value-driven strategy. <div type="Article" hostid="261" msid="114104209" title="‘Deeply cared about making India better’: Mukesh Ambani, Gautam Adani, Sundar Pichai and others react to Ratan Tata&amp;#39;s death" mstype="2" mssubtype="0"></div>The move led to a legal and public battle between Mistry and Tata Sons, attracting significant media attention and debate about governance standards in Indian conglomerates. Despite the controversy, Ratan Tata's decision to remove Mistry underscored his unwavering commitment to protecting the legacy and ethos of the Tata Group. <h2>Reducing the retirement age for top executives</h2>One of Ratan Tata’s notable leadership decisions was to reduce the retirement age for senior executives within the Tata Group from 70 to 65. This move was intended to bring in a younger generation of leaders with fresh perspectives and innovative ideas to drive the group's growth in a rapidly changing global market. Ratan Tata believed that younger leaders were more likely to embrace change and drive the group toward innovation, helping the Tata companies stay competitive on a global scale. This decision also paved the way for succession planning, ensuring that leadership transitions were smoother and that the next generation of executives was well-prepared to take over. These decisions showcase Ratan Tata's visionary leadership, his ability to take calculated risks, and his commitment to values-driven growth, which have collectively shaped the Tata Group into a global powerhouse.

Remembering Ratan: Here are some of the boldest business decisions taken by the legendary Tata industrialist

IT services and consultancy major <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) has partnered with Gujarat's Samagra Shiksha, <keyword id="14252886" type="General" weightage="20" keywordseo="gujarat-council-of-school-education" source="Orion">Gujarat Council of School Education</keyword> to train school students as well as teachers in new-age <keyword id="1458566" type="General" weightage="20" keywordseo="digital-skills" source="Orion">digital skills</keyword> such as computational and design thinking. According to a statement by TCS on Tuesday, TCS' Corporate Social Responsibility (CSR) program will bring the company's flagship global initiatives - Ignite My Future and goIT - to students and teachers in Gujarat, helping build the next generation of thinkers and innovators. TCS' Ignite My Future program is a pioneering effort to empower educators around the world through a unique approach that integrates computational thinking into core subjects like math, science, literacy, social studies, and arts. The initiatives align with the National Education Policy (NEP 2020), and look to inculcate global citizenship in students, building empathy towards critical issues in society and opening their minds to become problem solvers. In addition, it aims to build awareness among students and prepare them for the new digital economy, the statement said. "We are glad to be part of an initiative that works to add value to a student's education and help them build digital skills. The collaboration with the <keyword id="6370685" type="General" weightage="20" keywordseo="gujarat-government" source="Orion">Gujarat government</keyword> is part of our larger vision to empower people and communities. Our flagship programs - TCS Ignite My Future and goIT will be made available to 14,486 schools across Gujarat," Balaji Ganapathy, Global Head, of Corporate Social Responsibility, at TCS, was quoted in the statement. "Through this teaching-learning process, we look forward to providing regional, national, and global platforms for teachers and students to showcase some of their notable efforts in their journey of computational thinking and design thinking. We are also looking to identify and build an expert team of teachers for the State Education Department to use as a resource team for the future," Balaji Ganapathy added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-to-hike-prices-of-commercial-vehicles-by-up-to-2-from-january/articleshow/96193372.cms" style="">Tata Motors to hike prices of commercial vehicles by up to 2% from January</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/five-women-newsmakers-in-2022-in-india-droupadi-murmu-madhabi-puri-buch-samantha-ruth-prabhu-in-the-list/slidelist/96191677.cms" style="">Droupadi Murmu, Madhabi Puri Buch, Samantha Ruth Prabhu and more: Five women newsmakers of 2022</a>

TCS partners with Gujarat government to impart digital skills in schools

India's largest software services company <keyword id="6357585" type="CITY" weightage="100" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (<keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword>) will now solve social problems in local communities via an open innovation centre that it has opened in Nashik, Maharashtra. 
 
At the centre, TCS will look for ways to reduce the number of school dropouts, improve soil and water health, and ease parking woes in the city, among other social problems of the locality. The innovative solutions to these problems can be offered by students, early-stage start-ups and even individual entrepreneurs. 
 
TCS had also launched the physical and online initiative Digital Impact Square (DIS) on March 1, and as of now, 40 innovators are working on 11 projects under DIS. 
 
Hasit Kaji, who heads special initiatives at TCS, told ET that the number of innovators working under different projects would go up to 100 by June. "We have selected seven social themes based on interactions with local community and administration and crafted a set of challenges," he added. 
 
These seven themes are: health and hygiene, food and agriculture, citizen empowerment and transparency, transport and housing, education and skills, energy, water and environment, and financial and personal security. 
 
It was during TCS’s involvement in Kumbhathon, a project that was aimed at ensuring an incident-free Kumbh Mela in Nashik in August 2015, that the officials thought of DIS. 
 
"Most companies have innovation centres within the boundaries of the organisation or in partnership with academic institutes or other organisations but we wanted to create an open innovation platform, which is why we set up the DIS in the heart of Nashik," said Kaji. 
 
For the projects, the first cycle will run for six months, after which the successful prototypes will get another six months to mature their solution. Within another year, the innovations will be deployed to the first set of users within the city. 
 
<a href="http://www.tcs.com/about/corp_responsibility/corporate-social-responsibility/PublishingImages/GoIT-4.jpg">Image source</a>

TCS aims to solve social problems with its open innovation platform

Reliance Industries pipped state owned <keyword id="6354737" type="CITY" weightage="20" keywordseo="ONGC">ONGC</keyword> and <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> to emerge as the top company to spend on <keyword id="113603" type="ORGANIZATION" weightage="20" keywordseo="corporate-social-responsibility">corporate social responsibility</keyword> (<keyword id="6354502" type="ORGANIZATION" weightage="20" keywordseo="CSR">CSR</keyword>). 
 
Reliance Industries spent over Rs 760 crore. State-wise, Maharashtra has topped the chart in terms of CSR spending. The state has 202 projects. 
 
Reliance Industries shelled out Rs 760.58 crore on CSR followed by ONGC (Rs 495.23 crore), Infosys (Rs 239.54 crore), TCS (Rs 219 crore) and ITC (Rs 214.06 crore). 
 Corporate Affairs Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> said a total of 460 listed firms have so far disclosed spending Rs 6,337.36 crore in 2014-15. This included 51 PSUs that spent Rs 2,386.60 crore. 
 
The new Companies Act mandates every company with a net worth of Rs 100 crore to set aside minimum 2 per cent of their three-year average annual net profit for CSR activities. 
 
Companies also allocated funds towards clean Ganga Fund, Swachh Bharat Kosh, promotion of sports, art and culture. 
 
(Image: Thinkstock)

Would you believe Reliance tops corporate social spending this year!

Many companies that have scaled up operations are taking the <a href="http://www.businessinsider.in/searchresult.cms?query=CSR">CSR</a> seriously. Out of 216 companies surveyed by Futurescape and IIM Udaipur commissioned by Economic Times, <a href="http://www.businessinsider.in/searchresult.cms?query=mahindra">Mahindra &amp; Mahindra</a> topped the list. 
 
M&amp;M jumped two places and in this year’s CSR survey, there were four Tata group companies in the top 10. 
 
This time, the focus of the companies has shifted from anticipating the change to implementing it. 
 
Mahindra &amp; Mahindra’s key CSR areas focussed on girl child, youth and <a href="http://www.businessinsider.in/searchresult.cms?query=farmers">farmers</a> through several programmes. Its chain of schools-Mahindra Pride Schools-provides livelihood training to youth from socially and economically disadvantaged communities. 
 
Meanwhile, the second slot was taken by <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Power">Tata Power</a>, which is working in areas like education, environment, community development, health, safety, security, resource and energy conservation, etc. The total CSR spending of Tata Power in FY15 was at Rs 31.1 crore as against the 2% of PAT requirement of Rs 29.8 crore. 
 
Third, fourth, fifth positions were taken by <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Steel">Tata Steel</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=L%26T">L&amp;T</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=tata+chemicals">Tata Chemicals</a>, respectively. 
 The CSR spending of <keyword id="6357147" type="CITY" weightage="20" keywordseo="Tata-Steel">Tata Steel</keyword> in 2014-15 stood at Rs 171.46 crore, while L&amp;T spent Rs 76.54 crore on CSR in the last fiscal. 
 
Tata Chemicals, which focused on sustainable community development and preserving the ecosystem, in the last fiscal, spent Rs 12.76 crore on CSR. 
 
It is worth mentioning that Jubilant Life Sciences, a healthcare company, entered the top ten list and there was no foreign player. 
 
Jubilant Bhartia Foundation (JBF) focuses on elementary education, improving health indices, employability and promoting social entrepreneurship. 
 Meanwhile, <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> was at the 11th spot and TCS at 17th. 
 
(Image: Indiatimes)

Mahindra & Mahindra is doing more charity in India than any other company!

Apart from spending profits for brand building and expansion, India’s top 75 companies are also giving away a part of their profits for social causes. 
 
As per the <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+government">government</a> estimates, over Rs 4,000 crore were spent towards <a href="http://www.businessinsider.in/searchresult.cms?query=CSR">corporate social responsibility</a> (<keyword id="6354502" type="ORGANIZATION" weightage="100" keywordseo="CSR">CSR</keyword>) in 2015. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=reliance+industries">Reliance Industries</a> emerged as the top spender in CSR with Rs 760 crore. Among others were <a href="http://www.businessinsider.in/searchresult.cms?query=ONGC">ONGC</a> with Rs 495 crore, Infosys with Rs 239 crore, NTPC with Rs 205 crore and TCS with Rs 220 crore. 
 
However, the government expects CSR spending in the first year to be at Rs 9,000 crore and rise substantially in coming years. Reportedly, the government had initially pegged CSR spend at Rs 15,000 crore in a year. 
 
"Out of the 75 top companies, the 2% of average net profits for past three years comes positive for 67 companies; 39 of them have not spent 2% but all of them have shown their commitment towards CSR," Santhosh Jayaram, said director at KPMG. 
 
For companies, sectors like <a href="http://www.businessinsider.in/Modi-likely-to-keep-tight-rein-on-health-spending/articleshow/46378903.cms">health</a> and <a href="http://www.businessinsider.in/Online-Education-Young-Guns-Will-Propel-Market-Expansion/articleshow/44909341.cms">education</a> are of main attraction under CSR. 
 Under <keyword id="1850989" type="UNKNOWN" weightage="100" keywordseo="Companies-Act-2013">Companies Act 2013</keyword>, companies with a net worth of more than Rs 500 crore or revenue of over Rs 1,000 crore or a net profit of more than Rs 5 crore need to meet the CSR norms. 
 
Meanwhile, the government has constituted a panel to suggest steps for improved monitoring of social welfare activities done by them under the Companies Act. 
 
(Image: Thinkstock)

Top Indian companies are giving away a part of their profits for social causes, Rs 4000 cr spent on CSR in 2015

<ul><li><keyword id="3637386" type="General" weightage="20" keywordseo="LT-Tech" source="Orion">L&amp;T Tech</keyword>, one of the IT services subsidiaries of conglomerate L&amp;T, announced that it has achieved $1 billion annualized revenue run rate in Q2. </li><li>At a time when <keyword id="64527" type="General" weightage="20" keywordseo="Moonlighting" source="Orion">moonlighting</keyword> is generating a hot debate in the IT sector, L&amp;T Tech says that it is fine with it as long as it is unrelated to the primary job. </li><li>The IT services company also bagged a 5-year multi-million-dollar deal from carmaker BMW and said it expects its bookings in Europe to double in FY23. </li><li>Business Insider India caught up with the company’s CFO Rajeev Gupta and COO Abhishek Sinha to understand what the future looks like for L&amp;T Tech. </li></ul>At a time when moonlighting has become a hot-button debate in the Indian IT sector and majors like TCS, Infosys and Wipro have said they are against it, IT services firm L&amp;T Tech revealed that it is fine with moonlighting as long as the second job is unrelated. L&amp;T Technology Services, the IT arm of the multinational conglomerate L&amp;T,<a href="https://www.businessinsider.in/business/corporates/news/lt-tech-reports-sequential-growth-of-4-5-in-cc-revenues-in-q2-upgrades-fy23-revenue-guidance-to-15-5-16-5/articleshow/94944930.cms"> announced its September quarter earnings</a>, reporting a sequential growth of 4.5% in its revenue in constant currency terms, while its net profit increased 2.9% to ₹282 crore during the quarter. However, shares of the company fell 3.8% on Wednesday while the Nifty IT index was down 0.4% as of 10:30 a.m. While the company raised its guidance for FY23 to 15.5-16.5% revenue growth from 13.5-15.5%, it also reported that its attrition numbers worsened to 23.2%, with net employee additions of 572 for the September quarter. The company also announced it has achieved its target of $1 billion annualized revenue run rate, which it had initially projected to happen sometime in Q2 or Q3 this year. Business Insider India caught up with Rajeev Gupta, CFO, and Abhishek Sinha, COO, L&amp;T Tech, to understand what’s working for the company and what its outlook for the next few quarters is like. <cmsannotation type="cmsannotation" annotationid="Moonlighting is fine as long as it is unrelated" comment="subhead" text="Moonlighting is fine as long as it is unrelated">Moonlighting is fine as long as it is unrelated</cmsannotation> Moonlighting has been a sensitive topic in the past few weeks, with most IT majors either actively discouraging or making it known that they don’t approve of it. The only notable exception has been Tech Mahindra, which said it is fine with the practice. However, Sinha took a more nuanced position. While he says that the company is against the practice, it is fine with it if the second job is unrelated to what the employees do at the company. “I mean, if an engineer wants to teach students and enters college after hours or wants to do CSR work or wants to do work unrelated to the work we do for customers, there's nothing wrong in that. In fact, we would encourage that and that's absolutely fine,” Sinha explained the company’s stance on moonlighting. Moonlighting is the practice of taking up a second job, usually in secret, apart from the primary full-time job. <div type="Article" hostid="261" msid="94765592" title="Moonlighting is an ethical issue says TCS HR head" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="On attrition rates – ‘it’s a cyclic problem’" comment="subhead" text="On attrition rates – ‘it’s a cyclic problem’">On attrition rates – ‘it’s a cyclic problem’</cmsannotation> The September quarter has seen several headwinds growing stronger for the Indian IT sector – from recessionary concerns to elevated attrition rates and wages, the past few months have been difficult for the IT majors. But crucially, L&amp;T Tech’s attrition rates have worsened, from 20.4% in the previous quarter to 23.2% in Q2. Sinha said this is a cyclic problem and that he sees it going down in the next quarter. Despite the margin pressures that high attrition rates can cause, Gupta sounded optimistic and said it could become a tailwind going forward, since he expects attrition to come down and the company has been able to manage its 18% EBIT margins in the current environment. <cmsannotation type="cmsannotation" annotationid="‘Deal pipeline looks robust’" comment="subhead" text="‘Deal pipeline looks robust’">‘Deal pipeline looks robust’</cmsannotation> L&amp;T Tech added a new $60 million client to its list in Q2, and the company believes that its deal pipeline looks robust – the company says that it now has the visibility of doubling its bookings in Europe in FY23. Explaining how the company has been able to maintain its EBIT margins above 18% for the fifth consecutive quarter, Gupta said, “The pipeline is robust in terms of pricing and I would probably respond that - more in terms of the six big bets that we have and most of the wins that we've had are in these areas, so our ability to command better pricing has been maintained.” <cmsannotation type="cmsannotation" annotationid="‘Cautiously optimistic’ about growth prospects" comment="subhead" text="‘Cautiously optimistic’ about growth prospects">‘Cautiously optimistic’ about growth prospects</cmsannotation> Despite warnings from the IMF and World Bank about a looming recession, Gupta says he is “cautiously optimistic” about L&amp;T Tech’s growth prospects. “Given that we are in the engineering services space, we tend to look at spends from customers in two areas. One is of course, growth-related capex and the other is maintenance-related capex. Now, for any customer to continue to manage their operations, they will always continue on maintenance capex. So, we believe despite whatever the situation, the spend on maintenance capex will continue,” Gupta explained the rationale behind his optimism. Amongst L&amp;T Tech’s primary revenue contributors is the transportation vertical – the company just bagged a 5-year multi-million-dollar deal from car maker BMW for high-end engineering services for the infotainment consoles in its hybrid cars. With the transportation vertical contributing to over a third of the company’s total revenues, it is understandable then that it is one of the company’s big bets. “EV is a huge wave right now and that's where our big bet is well positioned and we see at least over the next 18 months, if not more, a good tailwind in terms of spending in transportation,” Gupta added. Sinha said that while the semiconductor chip shortage is still not resolved, the problem is easing out, explaining why the company sees transportation spending – its biggest revenue driver – as a tailwind over the next few quarters at least. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/lt-tech-reports-sequential-growth-of-4-5-in-cc-revenues-in-q2-upgrades-fy23-revenue-guidance-to-15-5-16-5/articleshow/94944930.cms">L&amp;T Tech reports sequential growth of 4.5% in CC revenues in Q2, upgrades FY23 revenue guidance to 15.5-16.5%</a> <a href="https://www.businessinsider.in/business/corporates/news/heres-what-it-takes-to-make-a-trillion-dollar-company/articleshow/94940917.cms">Here’s what it takes to make a trillion-dollar company</a> <a href="https://www.businessinsider.in/business/corporates/news/two-in-three-ceos-in-india-expect-a-recession-in-12-months-says-survey/articleshow/94934951.cms">Two in three CEOs in India expect a recession in 12 months says survey</a>

Moonlighting is fine as long as it is unrelated to what we do for our clients, says L&T Tech

<ul><li>Infosys is expected to fare better than its peers during the first-quarter earnings. </li><li>The Indian IT services company is slated to announce its results on July 15. </li><li>All eyes will be on the value of Infosys’ large deals between April through to June, according to analysts.</li></ul>Infosys is set to post its first-quarter results on July 15 and — as compared to other Indian IT services companies — Infosys is likely to show the least amount of dip in its revenues this quarter, according to analysts. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Brokerage </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;">Expected drop in revenue QoQ </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;">Motilal Oswal </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;">-4.8% </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;">IDBI </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;">-5.7% </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;">ICICI Securities </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;">-5.5% </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;">Nirmal Bang </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;">-5% </td></tr></tbody></table>Source: Preview reports Ahead of its earnings announcement, <keyword id="620690" type="PERSON" weightage="20" keywordseo="Infosys-share-price">Infosys share price</keyword> jumped by more than 8% on Wednesday morning. <div type="image" title="Infosys share price" msid="76975732" hostid="261" caption="&amp;lt;p&amp;gt;Infosys share jumped by 8% on Wednesday morning ahead of earnings results announcement&amp;lt;/p&amp;gt;"></div> Margin impact, in particular, is likely to be limited relative to peers. IDBI Securities expects earnings before interest and tax (EBIT) margin to decline by 45 basis points (bps) this quarter. For TCS, the EBIT margin fell by 148 bps. That’s 1.48% since 100 basis points make up 1%. According to IDBI’s preview, the decline may even have been greater, “but for 50bps impact in Q4FY20 due to provisions for receivables and higher CSR [corporate social responsibility] spend,” it said. <div type="image" title="Infosys share price" msid="76952707" hostid="261" caption="&amp;lt;p&amp;gt;Infosys share price this year&amp;lt;/p&amp;gt;"></div> Infosys’ share price is up by 8% so far this year. Despite the massive hit it took when news of the coronavirus pandemic broke, the company’s stock value has managed to recuperate to ₹796.7 as of Monday. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Stock </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;">Price change in 2020 so far </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;">8.25% </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 Tech </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;">5.38% </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;">2.29% </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;">-8.19% </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;">-21.24% </td></tr></tbody></table>Source: BSE, closing price on Jan 01 compared the closing price on July 13 Keep an eye on large deal wins All eyes will be on the value of Infosys’ large deals between April through to June, say analysts. “Our sense is that large deal TCV [total contract value] will likely be between $1 to 1.5 billion,” said Nirmal Bang in its preview. In comparison, TCS was able to bag $8.9 billion worth of contracts in its first-quarter. The earnings will show whether the deal wins are new deals or renewals. “The latter has been a sore point for Infosys in recent quarters with a larger portion of the TCV being renewals compared to FY19,” Nirmal Bang’s report added. Nonetheless, the manufacturing and auto verticals are likely to see continued pressure, according to Motiwala Oswal. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tech-mahindra-intel-wipro-and-other-multinationals-hiring-engineers/articleshow/76379519.cms">Tech Mahindra, Intel, Wipro and other multinationals hiring engineers</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-tech-mahindra-what-to-expect-from-earnings/articleshow/76865753.cms">TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter</a>

The key thing to watch out for during Infosys earnings will be the size of the new deals

With the deadline of one of <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">PM Narendra </a><a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Modi</a>’s most ambitious projects approaching- the <a href="http://www.businessinsider.in/searchresult.cms?query=Swachh+Bharat">Swachh Bharat program</a>, firms who were taken on to construct <a href="http://www.businessinsider.in/PM-Modis-Swachha-Bharat-could-be-dying-a-slow-but-steady-death/articleshow/48158374.cms">toilets in schools</a> across India before the 69th Independence day are now hurrying up. 
 As reported by Economic Times, <keyword id="46431" type="CITY" weightage="20" keywordseo="India-Inc">India Inc</keyword> is gradually raising its efforts and is supposed to reach the targets on time. India Inc, reportedly, is adapting innovative tools and ideas for timely completion of the project and that too at a minimal cost. 
 With public sector firms like Coal India and <keyword id="45179" type="CITY" weightage="20" keywordseo="NTPC">NTPC</keyword> running ahead of the private sector i.e. Bharti, <a href="http://www.businessinsider.in/searchresult.cms?query=Infosys">Infosys</a>, Mahindra, TCS and <keyword id="6374528" type="CITY" weightage="20" keywordseo="Toyota">Toyota</keyword>. M&amp;M, on the other hand, is expected to meet the targets with constructing 15,000 units by August 3 and Toyota, reportedly is targeting for the construction of 500 units. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Bharti+Group">Bharti Group</a> has made 4,000 toilets so far and out of them not all are under the government's sanitation program meant for schools. 
 
Japanese automaker Toyota has scaled up its toilet building plan and has constructed over 268 of the 500 toilets till now with modern water conservation technology. With Hindustan Zinc, simultaneously, reaching the 450 mark, CII, out of 4,000 has built 3,900 units. 
 
With companies stirred up for such projects, they are even coming up with innovative ideas like e-toilets, chemical toilets and also double pit ones. Also, they’ve explained that the cost of construction is also not so high. For instance, Mahindra is building a toilet block with five units at Rs 2.3 lakh each, while Toyota — which has the toilets designed specially by its team — is spending around Rs 2 lakh per toilet. 
 For several companies, the <keyword id="6361202" type="UNKNOWN" weightage="20" keywordseo="Swachh-Bharat">Swachh Bharat</keyword> initiative has emerged as a key component of its clean manufacturing process. Companies are using latest technology to suit different areas and the focus is on low maintenance and water use. "Sanitation projects are not just a CSR activity but a small contribution by Toyota to educate today's young students about the basic hygiene and the importance of clean environment for the future growth of India," said Toyota Kirloskar MD Naomi Ishii. 
 
India Inc has a few complaints too. For one, information flow is poor and the scheme got off to a slow start, it says. The biggest challenge was selecting the location as companies wanted to build the units near their area of operation. The other worry was related to maintenance as companies did not want the money to sink. 
Image: indiatimes

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