<ul><li><keyword id="2582336" type="General" weightage="50" keywordseo="rohit-jawa" source="Orion">Rohit Jawa</keyword> would take over the leadership role for a term of five consecutive years with effect from June 27, 2023.</li><li>Jawa will join the <keyword id="44863" type="General" weightage="100" keywordseo="hul" source="Orion">HUL</keyword> board as a whole-time director from April 1, 2023.</li><li>Besides the Indian market, he will also take over as President of <keyword id="45009" type="General" weightage="80" keywordseo="unilever" source="Orion">Unilever</keyword> South Asia. </li></ul> FMCG major HUL on Friday announced the appointment of Rohit Jawa as the Managing Director &amp; Chief Executive Officer to succeed <keyword id="169120" type="General" weightage="50" keywordseo="sanjiv-mehta" source="Orion">Sanjiv Mehta</keyword> who will retire from the company after leading it for a decade. Jawa, presently the Chief of Transformation for Unilever, would take over the leadership role for a term of five consecutive years with effect from June 27, 2023, the company said in a statement. "The appointment of Rohit Jawa as a whole-time director and MD &amp; CEO will be subject to the approval of Shareholders and other statutory approvals as may be applicable," it added. Jawa will join the HUL board as a whole-time director from April 1, 2023. Besides the Indian market, he will also take over as President of Unilever South Asia. He will join the Unilever Leadership Executive (ULE) effective April 1, 2023. After a transformational tenure of 10 years at the helm of HUL, Sanjiv Mehta will retire from the company. Jawa is currently the Chief of Transformation for Unilever in London where since January 2022, he has successfully orchestrated the once-in-a-decade, end-to-end transformation of Unilever. He started his career with HUL as a management trainee in 1988 and has a proven track record of sustained business results across - India, South East Asia, and North Asia. As EVP for North Asia &amp; Chairman for Unilever China, he led a significant transformation of Unilever China into a competitive, profitable, and consistent business, now Unilever's third biggest globally, the statement said. Further, as the Chairman of Unilever Philippines, he led the business to become one of the top 10 markets for Unilever globally. Rohit's ability to integrate the strength of traditional markets with digital technologies and future-fit business models positions him well to take HUL into its next growth phase. Commenting on the development HUL Chairman Nitin Pranjape said: "I am delighted to welcome Rohit back to India. He has a deep understanding of the business landscape, particularly in Asia and has led the transformation of Unilever businesses in China and in the Philippines. "I am certain that with his astute business acumen, and growth mindset Jawa will take HUL to the next level of performance." Mehta (62), had taken over as the MD &amp; CEO of HUL in October 2013 leading the business through a period of sustained growth. During his decade at the helm, the business crossed the Rs 50,000 crore turnover mark and the market capitalisation of the company increased more than four times from USD 17 billion to USD 75 billion, reinforcing HUL as one of India's most valuable businesses, the company said. He has been a proponent of long-term value creation anchored by growth, high-performance anatomy and distinctive capabilities and introduced several transformative business programmes such as 'Dial Up the Big Q' and 'Winning in Many Indias' to make the business more consumer-centric, agile, and resilient. In order to make the business more future-fit, Mehta kickstarted the 'Reimagine HUL' agenda by leveraging data, harnessing latest technologies, and designing business models to redefine how HUL engages with consumers, customers, and the way the business operates. He was also instrumental in HUL undertaking several strategic mergers and acquisitions, including the amalgamation of GSK Consumer Healthcare into HUL, one of the biggest mergers in the history of FMCG in the country. Besides, he actively championed the diversity agenda making HUL an even more inclusive organisation, the company said. Paranjpe said Mehta has been an integral part of the Unilever Leadership Executive and has driven the South Asia growth agenda as the president of the market cluster. Hindustan Unilever Led (HUL) is India's largest Fast-Moving Consumer Goods company, For the financial year ended on March 31, 2022, HUL which owns power brands such as Rin, <keyword id="270001" type="General" weightage="50" keywordseo="surf-excel" source="Orion">Surf Excel</keyword>, Dove etc has a revenue of Rs 51,193 crore. Mehta also served as the President of the industry body FICCI. Besides, the HUL board also announced the appointment of Ranjay Gulati as an Independent Director of the company for a term of five consecutive years with effect from 1st April 2023. Gulati comes with a rich understanding of Business Strategy and is presently a Professor at Harvard Business School, said an HUL statement. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-technologies-files-drhp-with-sebi-all-you-need-to-know-about-this-tata-motors-subsidiary/articleshow/98539244.cms">Tata Technologies files DRHP with SEBI: All you need to know about this Tata Motors subsidiary</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/demand-for-call-center-remote-customer-service-jobs-see-sharp-uptick-since-pre-pandemic-indeed/articleshow/98543190.cms">Demand for call center, remote customer service jobs see sharp uptick since pre-pandemic: Indeed</a>

Hindustan Unilever appoints Rohit Jawa as new MD & CEO; Sanjiv Mehta to retire

<ul><li>HUL’s <keyword id="9464376" type="UNKNOWN" weightage="20" keywordseo="glow-lovely">Glow &amp; Lovely</keyword>, the erstwhile <keyword id="413087" type="COMPANY" weightage="20" keywordseo="Fair-Lovely">Fair &amp; Lovely</keyword>, has been focusing on repositioning itself in the market since June 2020.</li><li>It recently launched a new advertisement lauding women athletes who participated in the Tokyo Olympics. Some experts are saying that it is a step in the right direction, while some said it is too little, too late.</li><li>We speak to young women from the advertising industry and experts to find out whether consumers will resonate with Glow &amp; Lovely’s recent advertising campaign.</li></ul>From using shade cards as a yardstick to determine a woman’s capabilities to using its advertising mediums to celebrate India’s women athletes, Hindustan Unilever’s Glow &amp; Lovely has come a long way. Previously known as Fair &amp; Lovely, the company announced its revamp strategy on June 25, 2020. It was shortly after protests against racial discrimination took over in the US and facing prolonged backlash on social media for building unrealistic beauty standards and stereotyping skin tones in India. It dropped the word ‘Fair’ from its name and has stopped using discriminatory words ‘White/Whitening', ‘Light/Lightening’ since then. Fair &amp; Lovely advertisements from the late 90s and early 20s often portrayed women with darker skins as failures; these women would ace their presentations, crack interviews or be able to upload their profiles on matrimonial websites only after applying a cream. They started by selling ‘gori twacha’ (fair skin) and moved to using alternatives like ‘nikhaar’ (glowing skin), which hinted that confidence is a by-product of fairness creams. However, after its transition to Glow &amp; Lovely, HUL has been attempting to take baby steps towards inclusivity. Its<a href="https://www.businessinsider.in/advertising/brands/article/glow-lovely-has-launched-its-new-campaign-but-why-does-it-look-and-feel-exactly-like-fair-lovely/articleshow/77986036.cms"> first ever ad</a> as Glow &amp; Lovely featured brand ambassador Yami Gautam. Following that, Glow &amp; Lovely released a rap video with Deepa Unnikrishnan, a.k.a. Dee MC, that targeted younger women and encouraged them to never shy away from pursuing their dreams and be confident in their own skin. Now, after India’s incredible performance at Tokyo Olympics 2020, the ‘brightening cream’ has released a new campaign that celebrates India’s athletes. <div type="Youtube" id="Eo_zEI0KJes" title="GlowGlow &amp; Lovely - Ready. Steady. Glow. #ReadySteady" thumbUrl="https://i.ytimg.com/vi/Eo_zEI0KJes/mqdefault.jpg"></div> Conceptualised by <keyword id="274876" type="COMPANY" weightage="20" keywordseo="Lowe-Lintas">Lowe Lintas</keyword> and produced by Crazy Few Films, Glow &amp; Lovely’s ad aims to talk about the inner-glow that comes after pursuing your dreams and goals. It celebrates 56 women athletes who represented India in the Olympics and countless others who are getting ready to follow in their footsteps. Out of seven medals this year, three medals were clinched by women. Josna Joseph, Creative Director, Tonic Worldwide calls Glow &amp; Lovely’s latest campaign a good start. “The new strategy has definitely defined a more progressive perspective and brand purpose. It is interesting to see Glow &amp; Lovely talking about a change in behaviour to empower its audience. It’s a start. The consumer today expects a lot more from brands. They are constantly asking - What is in it for me? And why shouldn’t they? For me, as a marketer, it’s a nice ad. As a woman, it could do more to create a distinct brand identity and stronger recall. If it was a race, chances are Glow &amp; Lovely would end up getting a participation certificate,” said she. For Schbang’s Creative Lead, Akshara Vasavda, it is too little, too late. “I think (and I may be biased here) as long as the brand exists, in whatever shape or form, there will be damage. Doesn't matter what they do with their communication, and really they're doing the bare minimum.” Since the revamp, Glow &amp; Lovely is trying to make it a point to include women of different skin tones and professions. However, does that really serve the purpose of portraying the brand as one that is more inclusive and progressive? Vasavda said, “The cast actually made me laugh. They just really can't bring themselves to cast a dark skinned girl. This brand should be boycotted culturally (by not making their ads and marketing efforts a conversation at all) and hopefully in the market by literally boycotting their products. It's a reach, I know, they have the country in a chokehold, but one can hope.” Shradha Agarwal, COO and Strategy Head, Grapes Digital was delighted to see a new approach. She said, “Slowly and steadily, Glow &amp; Lovely is trying to change the notion of being fairer to developing self-confidence. The brand's earlier advertising was perpetually obsessed with having a fair tone, but the latest ad is a good move depicting women athletes who represented India at the Tokyo Olympics. It is indeed positive to see that the brand has adopted a new strategy and intends to build an entirely fresh identity. The best part of the ad is, they have taken a simple storytelling approach and real-life champions rather than associating with a celebrity, which makes it quite encouraging and appealing for the audience. It is a noble effort in the right direction to correct the definition of beauty. Last year also the brand launched an ad with popular rap artist Dee MC spreading the message that a persons' beauty is not linked to skin tone alone.” She further said that the brand should continue focusing on bringing about change to win their audience. “It will take time for the brand to shed its earlier image, which was mostly surrounded by regressive values. But what matters the most is how the particular product is changing the narrative and breaking the stereotypes that have been associated with them for so many decades. It will not be a very smooth ride for them, the brand is under scrutiny and they can’t afford to make any mistake. They have a larger responsibility in bringing the change. The brand should come up with such campaigns if they want to change the perception among the masses,” added Agarwal. Fair &amp; Lovely has been in India for over 45 years now and has been one of the best-selling creams. According to media reports, Fair &amp; Lovely had entered the Rs 200 crore market back in 2017 and held a 60-70% share of the skin whitening industry. So to not lose a sense of familiarity with its consumers, the packaging, colour theme and celebrity haven’t been changed. While only time will tell if consumers will appreciate Glow &amp; Lovely’s new identity and repositioning in the market, we hope this repositioning is not just to please critics but also to change the narrative and bring about real change, and do some damage control.

HUL’s Glow & Lovely ad shifts focus from fairness to career in its latest ad; draws mixed reactions

Sanjiv Mehta, Managing Director and CEO of FMCG major <keyword id="6365619" type="CITY" weightage="100" keywordseo="Hindustan-UniLever">Hindustan Unilever</keyword> took home a pay package of Rs 14.20 crore in the last fiscal, even though there was no hike in his salary as compared to the previous year. In comparison, Company’s Chief Financial Officer P B Balaji was paid Rs 8.33 crore for the same period, even without any raise in 2016-17. On the other hand, Pradeep Banerjee, Executive Director for Supply Chain, and Dev Bajpai, Executive Director for Legal &amp; Corporate Affairs and Company Secretary, both received hikes of 8% each, taking home Rs 4.75 crore and Rs 4.69 crore, respectively. Employees other than the managerial personnel got an average percentage increase of 5.57%. In the case of managerial personnel, the average increase was 3.1%. (Image source HUL)

Hindustan Unilever CEO took home a hefty package of Rs 14.20 crore in FY17

According to Microsoft <keyword id="5645" type="POSITION" weightage="20" keywordseo="CEO">CEO</keyword> <keyword id="276564" type="PERSON" weightage="20" keywordseo="Satya-Nadella">Satya Nadella</keyword>, the current global situation can be divided into three phases -- the pre-Covid era, the lockdown and recovery. However, none of these phases are linear -- as new Covid-19 strains are emerging, a few countries are heading back to lockdown. Some others have started vaccinating. With many looming uncertainties, the year of 2021 would leave businesses in a state of upheaval. But many believe that it would pave the way for a better world ahead. The business leaders or <keyword id="609639" type="PERSON" weightage="20" keywordseo="CXOs">CXOs</keyword> will have to either keep up with the disruption or stay ahead in order to survive. Here are a few mantras that CXOs might have to include in their New Year resolution list this year. <cmsannotation type="cmsannotation" annotationid="CEOs" comment="subhead" text="CEOs">CEOs</cmsannotation> The <a href="https://twitter.com/TataCompanies/status/1341361177570361344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1341361177570361344%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.businesstoday.in%2Fcurrent%2Fcorporate%2Fin-letter-to-tata-staff-chandrasekaran-says-thank-you-talks-of-opportunities-for-renewal%2Fstory%2F425707.html">Chairman of Tata Group N Chandrasekaran </a>extended the ownership and responsibility of the big changes with all his employees. As “rules are being rewritten”, he said, new opportunities are akin to a bridge. “But it is a special kind of bridge because we are not simply waiting to see what happens on the other side. Instead, we have a hand in building our own destination,” he said. <div type="twitter" handle="TataCompanies" handlename="Tata Group" image="http://pbs.twimg.com/profile_images/1289024769656905729/UQo4NKUK_normal.jpg" favoritecount="716" retweetcount="113" status="Message from our Chairman N. Chandrasekaran for the New Year 2021. #ThisIsTata https://t.co/OgFYNfxEJY" createdat="1608640400000" id="1341361177570361344"></div> Referred to as India’s corporate disruptor-in-chief, Anand Mahindra the chairman of Mahindra and Mahindra group of companies said that <a href="https://auto.economictimes.indiatimes.com/news/industry/mahindra-mahindra-set-for-a-reboot-and-how/77413794">Covid-19 gave them a unique opportunity</a> to reboot by winding up loss making businesses to focus on what can yield them benefits going ahead. Organizations like Dr Reddy’s Laboratories also seemed to have made up their mind to weave in volatility into their 2021 performance. “We believe FY2021 will have more uncertainties than ever before. Consequently, our overall performance may be quite volatile," Dr Reddy's Laboratories said in its <a href="https://www.business-standard.com/article/companies/performance-may-be-quite-volatile-in-fy21-due-to-coronavirus-dr-reddy-s-120070600492_1.html">latest annual report</a>. It seems like all the top leaders had embraced the upheaval that the pandemic has caused and turned 2021 into ‘the year of rebuilding’. To ensure that, the leadership has to brace for surprises, make agile plans and make room for the many uncertainties that are very likely to come. A few pointers that would help them in the way, would be: <ul><li>The first is to make agile plans that can be amended easily to weave in uncertainty.</li><li>The new year should be about making fresh plans and not just about building on existing structures.</li><li>The digital way of doing things should be woven into the framework. One such way would-be smart outsourcing right from marketing to advertising to hiring.</li><li>As the world shifts to the work-from-home mode, technology and security budgets should be expanded.</li><li>The top leadership should turn a little ‘hands-on’ to make more virtual appearances more often to motivate the remote workforce.</li></ul><cmsannotation type="cmsannotation" annotationid="CFOs" comment="subhead" text="CFOs">CFOs</cmsannotation> Srinivas Phatak, the head of finance of HUL adopted a “follow the money” strategy during the pandemic. “Gone are the days where you can think about an innovation in a timeframe of nine months. The new normal is nine weeks. And how well can we do it? These are the kind of things we'll have to get better at in 2021,” <a href="https://www.fm-magazine.com/news/2020/dec/hindustan-unilever-cfo-srinivas-phatak-indian-market-growth.html">he said</a>. The CFOs are also coining a new designation for themselves called ‘change agents’. “CFOs will have to bring new ideas on the table both within and outside their finance function,” said Rahul Malhotra, <a href="https://cfo.economictimes.indiatimes.com/news/empathy-should-be-on-top-of-cfos-mind-in-2021/80067564">finance chief of Integreon</a>. Some pointers for them would be: <ul><li>They would have to make structural changes to the finance function to support fast-paced transformation.</li><li>Since organizations need to move faster, they would have to have less baggage. That would mean leaner credit profiles with refinanced debt at bargained interest rates.</li><li>The inventory levels must also come down to keep pace with fast changing demand and supply dynamics.</li><li>CFOs must make way for higher R&amp;D budgets that would ensure innovation matches market speed.</li><li>The finances of a company would have to be much more transparent. It will come under constant review to gauge the success of the many launches and changes.</li><li>To support change at an organizational level, CFOs will have to ensure funds keep flowing in and that would require streamlining investments and divestments.</li></ul><cmsannotation type="cmsannotation" annotationid="COOs" comment="subhead" text="COOs">COOs</cmsannotation> COOs will have to bring technology and operations together, as organizations adopt digital modes of working. <ul><li>They need to play many roles including motivating the workforce, and re-building logistics for new products and projects.</li><li>This year, most companies would tighten budgets. Hence, COOs will have to increase operational efficiency by adopting analytics and other digital tools to lower costs.</li><li>They would have to build a ‘human connect’ while adopting automation to ensure employees accept digitization.</li><li>This is especially important as they would have to re-think hiring and maintain a skeleton structure that would align with changed cost dynamics in 2021.</li><li>They would also have to re-think physical assets like offices in the wake of a new normal.</li></ul><cmsannotation type="cmsannotation" annotationid="CIOs/CTOs" comment="subhead" text="CIOs/CTOs">CIOs/CTOs</cmsannotation> As remote working becomes the new normal, CIOs and CTOs should assume the new role as quasi-COOs who would ensure business continuity. Most CIOs are betting on managed services which can ensure that they can transition to the new role with extended responsibilities. "With the focus growing more on digital, leaning on managed services ensures that domain experts help you with the scaling as you focus on your core competency," said Radhakrishna Pillai, CIO of SRL Ltd. <ul><li>They should drive change in communication strategies to ensure remote working does not affect productivity.</li><li>They will have to drive creation of new products and assets with insights from big data, smart data and analytics.</li><li>The data sets themselves could be converted into products that can bring in revenue.</li><li>They will also play an active role in innovation as organizations tilt towards cloud-first and digital-first strategies.</li><li>Managed services, with providers like <a href="http://bit.ly/INTBI1">INT. (Indus Net Technologies)</a> ensure uptime guarantee, proactive support and SLA driven response and resolution.</li><li>If digital is the game, Infrastructure as a Service (IaaS) is the new domain.</li></ul><cmsannotation type="cmsannotation" annotationid="CMOs" comment="subhead" text="CMOs">CMOs</cmsannotation> In 2021, CMOs will drive sales electronically where consumers have no sense of ‘touch and feel’. They would have to beef up virtual experiences and make selling ‘smarter’. And all this while building a deeper emotional connect with the consumer. “With a digital-first mindset, there’s a good opportunity to be smarter about using data to make sure that our touchpoints with customers are intentional, mindful, and impactful. For marketers, smart use of data and AI delivers personalization, and personalization drives growth,” said Stephanie Buscemi, the global CMO of Salesforce. <ul><li>For long, customers have been demanding customization and in 2021, it will only amplify. With the power of big data, it is now possible to divide customer pools into thinner and thinner segments for relevant offerings.</li><li>Micro-segmentation can help identify new needs and improve return on investments for digital advertising.</li><li>But perhaps, CMOs shouldn’t miss the woods for the trees. INT ensures that micro-segmentation is a part of the integrated digital marketing. It devises end-to-end strategies using the right tools and a process in the right order for the best outcome.</li><li>Outsourcing key marketing functions to match the speed of product innovation and shorter product-to-market cycles, will also increase as the world embraces the new normal.</li></ul>Disclaimer: This is a sponsored post in partnership with Indus Net Technologies.

21 things that CXOs might have to do differently in 2021

<img class="gwt-Image" src="/photo/51714447.cms" /> <keyword id="178761" type="COMPANY" weightage="100" keywordseo="Hindustan-Unilever-Limited">Hindustan Unilever Limited</keyword> (<keyword id="44863" type="CITY" weightage="100" keywordseo="HUL">HUL</keyword>), the Indian consumer goods based company, is the top choice of Indian B-schools for campus placements, and has been so for five years in a row, says a survey by Nielsen. The survey, called 'Campus Track Business School Survey', also says that HUL has been able to retain its 'Dream Employer' status for seven years now. 
 
"We ensure that we attract the best talent and our processes help lay a strong foundation early in their career. HUL has a clearly defined career philosophy which revolves around job rotation and diversity of experiences in an individual's career," HUL executive director-human resources B P Biddappa said. 
 
"We also ensure that we have progressive people policies in place for our employees to enable them to perform their best at all life stages. We continue to review our policies and practices to keep them relevant to the changing needs of our workforce," Mr Biddappa added. 
 
<a href="https://upload.wikimedia.org/wikipedia/commons/8/81/IIM_Panorama_Ahmedabad.JPG">Image source</a>

B-schools love getting their students hired by this Indian company

<img class="gwt-Image" src="/photo/48480863.cms" /> As the stage is all set for students of India’s top B-schools to get placed,<a href="http://www.businessinsider.in/searchresult.cms?query=eCommerce+"> eCommerce companies</a>, too, are eying the best talent this year. As per an Economics Times report, the top B-school graduates, this year, are in receipt of offers, which are double as compared to what was on platter a year ago. 
 
The pre-placement trend is followed by the <a href="http://www.businessinsider.in/searchresult.cms?query=summer+internship">summer internship program,</a> which generally starts in July-August and continues till December. Companies like the <keyword id="136162" type="CITY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword>, Amazon, <keyword id="6369697" type="COMPANY" weightage="20" keywordseo="Godrej">Godrej</keyword> and <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> are following the trend aggressively to get tried and tested talent on board. 
 Gurgaon-based Management Development Institute has received 31 offers so far. The offers are from the companies including <keyword id="54572" type="CITY" weightage="20" keywordseo="PepsiCo">PepsiCo</keyword>, <keyword id="6359480" type="PERSON" weightage="20" keywordseo="Aditya-Birla">Aditya Birla</keyword> Group, Vodafone, <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword>, Reckitt Benckiser and the Boston Consulting Group. It’s important to note that the current offers witness a major hike as compared to 2014. 
 
Kanwal Kapil, the placement chairperson of Management Development Institute, said, "We are expecting e-commerce firms and major investment banks to hire extensively through the PPO (pre-placement offer) route." 
 
Another one in the lineup is <a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Bangalore">IIM Bangalore</a>. This institute too is expecting the numbers of PPOs to go up this year. Sapna Agarwal, head of career development cell at IIM Bangalore, says, "Last year was an exceptionally good year for us, with more than 30% of our batch getting placed through PPOs. We got 137 PPOs last year and we expect the number to go up this time.” 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Kozhikode">IIM Kozhikode</a> is also expecting a rise of 10% in the numbers, informed AF Mathew, the placements chairperson of this prestigious institute. 
 This year, the Boston Consulting Group has made 47 pre-placement offers from across B-schools, which is 47% more than the last year. "We have had substantial growth over the last many years and in line with our growth we hired 95 students through campus recruitments," said <keyword id="2723481" type="PERSON" weightage="20" keywordseo="Suresh-Subudhi">Suresh Subudhi</keyword>, partner and head of recruiting. At IIMs, the firm offers a base salary of Rs 20 lakh, in addition to a variable bonus. 
 
The campus hiring requirements has gone up to 20% at Godrej this year. "Today, our businesses have a growing global presence. This kind of expansion has meant that new roles are created across businesses and countries. So far, we have concluded our summer internships for the year and have offered 20% PPOs as part of that," said Sumit Mitra, head-group human resources and corporate services, Godrej Industries Limited and Associate Companies. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Godrej+">Godrej </a>offers pre-placement opportunities to students in the summer, autumn and winter sessions of Gurukul during the internship program. In 2014, 91% of the company’s management trainee came through Gurukul. As part of the two-month program students get to work on live projects across businesses under close mentoring from senior leaders. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Indore">IIM Indore</a> too, is expecting a high number of PPOs from the eCommerce industry as compared to previous year. Companies who have released PPOs at IIM Indore so far are BCG, <keyword id="44863" type="CITY" weightage="20" keywordseo="HUL">HUL</keyword>, <keyword id="49855" type="COMPANY" weightage="20" keywordseo="philips">Philips</keyword> and Vodafone. 
 Raj Raghavan, director, human resources at <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>, said, "Our intern hiring numbers have seen a steady rise over the last few years. Our conversion percentage has been improving significantly and today around 25% of our total MBA hires come through PPOs." 
 
Faculty of Management Studies, Delhi has received 21 offers this year, compared to 17 last time round, from Accenture, BCG, HUL, L'Oreal, Pepsi, Philips and Vodafone. 
 
Ashok Ramchandran, director, HR at <a href="http://www.businessinsider.in/searchresult.cms?query=Vodafone+">Vodafone </a>said, "Greater hiring is expected across all domains, primarily in e-commerce and <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> marketing. Consulting companies are also expanding their talent pool," said a spokesperson from the institute.” 
 
Ramchandran further added, “The conversion rate from summer internships to PPOs has increased 22% at telecom operator Vodafone this year. Vodafone made 100 summer internship offers in 2014. Of these, 58% received PPOs from the company across B-schools, law schools and engineering colleges. "We continue to hold similar focus in hiring and rigor in building our talent pipeline through our flagship management trainee program called Discover."

Here’s what eCommerce companies are doing to get ‘tried and tested’ talent on board

<img class="gwt-Image" src="/photo/48141792.cms" /> The crorepati club of Indian executives is getting bigger every year. It is the leading <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> firm, <keyword id="44863" type="CITY" weightage="20" keywordseo="HUL">HUL</keyword> that has has maximum number of employees in this club. As per a recent Economic Times report, HUL’s 169 employees drew eight-digit salary last year, which is six times more than its closest rival <keyword id="6357073" type="ORGANIZATION" weightage="20" keywordseo="ITC">ITC</keyword>’s 23 crorepatis. 
 Among HUL employees earning this handsome amount, the majority is below 40 age-groups. Not just this, but the count is also 50% higher than IT major Infosys' 123 eight-digit salary earners and more than double of <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>'s 70. 
 
As stated in the company’s annual report, these 169 managers represent just 1% of the total HUL workforce and also they take home a whopping Rs 310 crore. 
 The amount, as stated in the firm’s annual report, is more than the total employee-spend of mid-sized rivals like Marico, Godrej Consumer and <keyword id="2958733" type="UNKNOWN" weightage="20" keywordseo="Procter-Gamble-Health">Procter &amp; Gamble Health</keyword> and Hygiene. 
 Aditya <keyword id="303753" type="PERSON" weightage="20" keywordseo="Narayan-Mishra">Narayan Mishra</keyword>, chief executive at CEIL HR Services too agreed upon the fact that HUL has the highest number of crorepati employees in India. He said, "For the kind of talent HUL looks for, the company has to pay top dollars as supply is limited and they have to retain them. Since they also create strong leadership within their organization, retaining them becomes crucial." 
 
What added much to our expectation is the fact that the company has also been termed as the ‘CEO Factory’. HUL, till date, has thrown in over 400 CEOs in the corporate sector. 
 Even after eCommerce sector taking over FMCG, HUL remained the first career-choice of B-School pass-outs this year. The company has managed to maintain the trend for the past several years and is the hottest career destination as reported by <keyword id="2958734" type="UNKNOWN" weightage="20" keywordseo="Nielsen-Campus-Track-Business-School">Nielsen Campus Track Business School</keyword> 2015 survey. 
 
Image: thinkstock

The crorepati club: Here is the firm that topped the list

<img class="gwt-Image" src="/photo/48142707.cms" /> 
Hindustan Unilever’s (HUL) senior employees are one of the best paid in the industry. HUL has 169 executives who drew eight-digit salaries last year, six times more than its closest rival ITC's 23 crorepati employees, and half of them are less than 40 years of age, according to the Economic Times. The HUL number is also 50% higher than IT major Infosys' 123 eight-digit salary earners and more than double of Wipro's 70. 
 
The firm’s annual report states, 169 managers, representing just 1% of HUL's total workforce, drew home a combined salary of Rs 310 crore. 
This is more than the total employee spends of mid-sized rivals such as Marico, Godrej Consumer and Procter &amp; Gamble Health and Hygiene. "For the kind of talent HUL looks for, the company has to pay top dollars as supply is limited and they have to retain them," Aditya Narayan Mishra, chief executive at CEIL HR Services told the ET adding that HUL has the highest number of crorepati employees in India. 
 
"Since they also create strong leadership within their organisation, retaining them becomes crucial," he said. HUL is often referred to as a 'CEO Factory', having contributed over 400 CEOs within the corporate world. 
 
Despite ecommerce edging out FMCG as the hottest career destination for B-school students, HUL still remains the most preferred company overall in the list for the graduating batch of 2015, fourth year in a row and as a dream company across sectors for the sixth year running, as per Nielsen Campus Track Business School 2015 survey. 
 
"At HUL, the ability to identify, hire, groom and retain the best talent has been honed and developed over several decades and remains one of the most important agenda of my leadership team," Sanjiv Mehta, CEO and MD at Hindustan Unilever, had told the financial daily in March this year. Salaries at HUL are partly linked to the company's performance in sales and profitability, say analysts. 
 
During 2014-15, HUL posted 9% sales growth compared to 7% in the overall FMCG growth with 90% of its portfolio gaining market share. Nitin Mathur, consumer goods analyst at Societe Generale, said: "HUL is unarguably the leader when it comes to understanding the Indian consumption patterns, across economic strata. 
 
Any competitor, either incumbents or startups, would like to leverage on this experience by hiring their executives." 
 
ET in May had reported that ecommerce companies could roll out 500 jobs with salaries of more than Rs 1 crore each this year, according to estimates by five search firms, including RGF Executive Search and Longhouse Consulting. 
 
Also offering jobs with one-crore-plus salaries are Flipkart, Amazon, Snapdeal, Ola, Uber, Quikr, CommonFloor, Yepme, OLX, Junglee, FashionAndYou, Hungama, BookMyShow, Jabong, Cleartrip and Lenskart. 
 
(Image: Think Stock)

169 employees of HUL, earn 8-digit salaries a year!

<ul><li>In a revolutionary decision, <keyword id="178761" type="COMPANY" weightage="20" keywordseo="Hindustan-Unilever-Limited">Hindustan Unilever Limited</keyword> has announced that it will rename the brand ‘Fair and Lovely.’ The giant said that it will drop words like ‘Fair,’ ‘White/Whitening,’ Light/Lightening’ from all its packs and communications. </li><li>This move comes after Fair &amp; Lovely faced a lot of backlash on social media for building unrealistic beauty standards and stereotyping skin tones. </li><li>We speak to experts to understand how Fair &amp; Lovely can go about rebranding themselves to undo the damage and win back consumer trust. </li></ul>On June 25, Hindustan Unilever’s Fair &amp; Lovely announced that it will drop the word ‘Fair’ from its name and restrict using ‘White/Whitening',’ ‘Light/Lightening’ from all its packs and communications. In the wake of Black Lives Matter, recent protests against racial discrimination in the US, social media was abuzz with people calling out beauty brands for perpetrating a bias based on skin colour. Following this, Johnson &amp; Johnson announced that it will be discontinuing its skin lightening creams Neutrogena Fine Fairness and Clear Fairness by Clean &amp; Clear. Now, HUL has joined the list. Albeit, it is only dropping the brand name. Over the years, HUL’s Fair &amp; Lovely has created an image for being a skin lightening cream. While there are many other players in this industry, Fair &amp; Lovely has faced a lot of backlash on social media for its poor choice of brand name, advertisements and for propagating unrealistic beauty standards and stereotyping skin tones. The statement released on HUL’s website said, "Fair &amp; Lovely has never been, and is not, a skin bleaching product.” However, its communication indicated otherwise. Its advertisements from the late 90s and early 20s portrayed women of colour as failures, who aced their presentations or could only upload their profiles on matrimonial websites after applying a cream. They started by selling ‘gori twacha’ (fair skin) and moved to using alternatives like ‘nikhaar’ (glowing skin), which hinted that confidence is a by-product of <keyword id="16219" type="PERSON" weightage="20" keywordseo="fairness-creams">fairness creams</keyword>. <div type="Youtube" id="FGsYdi3PdXw" title="Bidita Bag in FAIR &amp; LOVELY" thumbUrl="https://i.ytimg.com/vi/FGsYdi3PdXw/mqdefault.jpg"></div> About the old racist ads, HUL said, “We are aware that historic advertising is available on the internet; these ads are not aligned with the current values of the brand. In 2019, we reflected this evolution on the Fair &amp; Lovely pack in India, removing before-and-after impressions and shade guides that could indicate a transformation; and we have progressed all communication of product benefits towards glow, even tone, skin clarity and radiance.” So, we reached out to experts to understand how bad is the damage and how should HUL go about rebranding its popular ‘skin whitening’ product in India. Lloyd Mathias, Business Strategist and Angel Investor, said, “I think this a positive move by HUL – though long overdue – should be welcomed. Any product or service that reinforces stereotypes, be it race or colour, is never a great proposition, and global corporations need to be very sensitive to these issues. I only wish this had happened much earlier and did not need a movement like ‘Black Lives Matter’ in the USA, and Johnson and Johnson’s withdrawing a similar offering, to precipitate it. I believe the real solution is recasting the proposition, while taking the brand towards a more inclusive vision of beauty which could include holistic measures of healthy skin.” Ronita Mitra, Business Consultant - Founder, Brand Eagle Consulting also opines that HUL's move is just a reactive measure that was taken after Black Lives Matter. She said, "Brands have a responsibility towards shaping opinions of its consumers and in the process, the larger society, rather than following and reinforcing existing popular belief systems. Positioning by brands on the platform of fairness has always inherently had discrimination at its core along with a reinforcement of a regressive belief system. It is indeed a positive step for brands that are re-looking at the fairness positioning and branding. Given the timing of the re-branding exercise, it does appear like a reactive measure. Nonetheless, it's a big step forward in the right direction and will eventually shape and influence consumer psyche towards a more holistic perception of beauty. Brands ought to focus more on highlighting beauty at a deeper level celebrating quality (of skin) and the person and her character." Shashwat Das, Founder, Almond Branding was appalled by people rejoicing with this move. Das was not amused with HUL’s tokenism. He expected HUL to follow J&amp;J and drop the products altogether that stand for colourism in India. “In my opinion, it's only an eyewash. I am looking forward to a complete ban on skin-tone oriented products. The very foundation on which these brands are built is flawed. We have known it for years and it took 45 years and a raging anti-racial movement to force this move upon certain companies. How come there is a sudden awakening? This is not a change out of self-realisation. Had these protests not caught momentum, such a move by HUL would have taken a few more decades to come.” The official statement of HUL says that Fair &amp; Lovely’s advertising has evolved to communicate a message of women’s empowerment, they have started focusing on their career. On this statement, Das said, “I beg to differ here. For years, the brand has been making young Indian girls insecure of their skin tone by promising dreams coming true through fairness. That’s not empowerment, that’s exploitation! How do you claim to support women when your entire brand story is around colourism? The damage caused in the last 45 years is too deep to be healed by a mere change in name.” Winning back consumer trust with honesty and sensitive communication Fair &amp; Lovely has been in India for over 45 years now and has been one of the best-selling creams. According to The Drum, Fair &amp; Lovely had entered the Rs 200 crore market back in 2017 and held a 60-70% share of the skin whitening industry. Telling us how big the industry is, Rimpie Tulsiani, Senior Beauty and Personal Care Analyst, India, Mintel, said, "Historically in India, skin whiteners and lighteners contribute more than a third to overall facial care value sales. So it is a large contributor to business. And India's obsession with fair skin and persistent bias against darker faces has been the standard narrative for brand communications until recently. This narrative is now evolving to terms like “skin brightening/ whitening" and in the direction of health.” According to Mintel research, 39% of Indian consumers define healthy skin as one that is 'fresh, followed by bright and spotless.' To which, Tulsiani said, “The fairness category in India is currently under the radar as authorities are scrutinizing how brands communicate their claims and what ingredients they use. Whitening brands will need to accelerate their change in mindset and thereby positioning in order just to stay relevant to these consumers, they will need to regain consumer trust with honest claims and broaden their scope to skin health rather than focus on skin colour alone.” What's in a name? “No, it won’t just be called ‘And Lovely’,” jokes <keyword id="247533" type="PERSON" weightage="20" keywordseo="Karthik-Srinivasan">Karthik Srinivasan</keyword>, Independent Brand Consultant and Social Media Expert. Srinivasan said HUL should put all efforts again in rebuilding their brand image and occupying consumer minds. “The brand's name and use-case have been drilled into minds over many years, considering the brand was launched in 1975. That use-case is: if you need 'whiter' skin, you need to pick a cream. And that one of the best creams, which is in the name itself, is Fair &amp; lovely. Now if they change the name, it is not a big deal because they have already left an impression. However, it is in the right direction because they will be honest about what they are really selling in the cream -- standing to a truer representation of saying that you will get clearer skin without blemishes, a message they evolved after moving away from explicit connection with white/fair skin. From a product formulation point of view, there wouldn't be any doubt in anybody's mind, which product they're talking about. However, now they need to spend a lot of money to put a new name into consumers' minds because Fair &amp; Lovely was so iconic, it is like Maggi in India. There is a lot of history and legacy behind the brand which was built over the years through advertising and marketing. They need to spend at least a snapshot of it,” said Srinivasan. But isn’t HUL just selling an old wine in a new bottle? Will it be able to undo the damage it has caused over the years and regain consumer trust? In a simple answer, Das said no, they can’t and they shouldn’t. “You can’t just drop a word and claim innocence, when you still continue to sell the same product that people recognize as something that stood for colourism. At the end of the day, you are still selling a skin lightening cream, whatever fancy name you may give it. And only if Fair &amp; Lovely does drop the entire fairness range, can it come out as a brand who seriously believes in the cause. That’s when consumers can give it a clean chit and that’s when it can regain their trust,” said Das.

Fair and Lovely to drop ‘Fair’ from its name but will that be enough to appeal to new-age consumers?

<ul><li>Cannes Lions announces its shortlists for Brand Experience &amp; Activation, Mobile, Radio &amp; Audio, Creative Business Transformation, Creative Effectiveness, Creative E-commerce, Sustainable Development and Film and Innovation categories.</li><li>The jury will announce the results for Digital Craft, Film Craft, Industry Craft, Entertainment, Entertainment for Music and Entertainment for Sport today.</li></ul>Day 3 of this year’s Cannes Lions opened with some more good news for India. Work from the country bagged 21 shortlists. Cannes revealed shortlists for categories including Brand Experience &amp; Activation, Mobile, Radio &amp; Audio, Creative Business Transformation, Creative Effectiveness, Creative E-commerce, Sustainable Development and Film and Innovation categories. While we got 8 shortlists in the Brand Experience &amp; Activation category, 1 in Creative E-commerce, 4 in Film, 4 in the Mobile category and 4 in Sustainable Development Goals, there were no shortlists in the Radio &amp; Audio, Creative Business Transformation, Creative Effectiveness and Innovation Lions categories. Here is a list of India’s shortlist on Day 3: <cmsannotation type="cmsannotation" annotationid="Brand Experience &amp; Activation" text="Brand Experience &amp; Activation">Brand Experience &amp; Activation</cmsannotation> <ol><li>The Punishing Signal - Brand Experience &amp; Activation, FCB Interface, Mumbai Police - Not-for-profit/Charity/Government</li><li>Pedasuransi - Customer Acquisition &amp; Retention, VMLY&amp;R, Heinz</li><li>Careers From Home - Culture and Context, Local Brand, Wheel India, HUL</li><li>The Better Half Recipes - Culture and Context, Challenger Brand, Dentsu Webchutney, Swiggy</li><li>The 8-Bit Journo - Culture and Context, Single-market campaign, Dentsu Webchutney, Vice</li><li>Make your Own Mask - Culture and Context, Single-market campaign, Wunderman Thompson, The Times of India</li><li>The Applegram - Culture and Context, Single-market campaign, Famous Innovations, Radio Zindagi</li><li>The Better Half Recipes - Culture and Context, Cultural Insight, Dentsu Webchutney, Swiggy</li></ol><cmsannotation type="cmsannotation" annotationid="Mobile Lions" text="Mobile Lions">Mobile Lions</cmsannotation> <ol><li>The 8-bit journo - Vice - Dentsu Webchutney Mumbai - Mobile Technology - Activation by Location </li><li>The 8-bit journo - Vice - Dentsu Webchutney Mumbai - Mobile Technology - Mobile Led Creativity </li><li>The 8-bit journo - Vice - Dentsu Webchutney Mumbai - Mobile Social - Real-time Response</li><li>Now, words aren’t just heard, but felt - Samsung - Cheil India Gurgaon - Mobile Technology - Innovative Use of Technology</li></ol><cmsannotation type="cmsannotation" annotationid="Sustainable Development Goals" text="Sustainable Development Goals">Sustainable Development Goals</cmsannotation> <ol><li>#Keepgirlsinschool - Whisper Mobileshaala - Leo Burnett, Mumbai - Quality Education</li><li>Shakti - The Selfless Selfie, Shakti, Ngo, FCB India, Delhi, Gender Equality</li><li>Out And Proud Classified, The Times Of India, Newspaper, FCB Ulka, Delhi</li><li>Now, Words Aren't Just Heard, But Felt. - Samsung - Samsung Good Vibes - Cheil India, Gurugram - Reduced Inequalities</li></ol><cmsannotation type="cmsannotation" annotationid="Film" text="Film">Film</cmsannotation> <ol><li>Savlon - The Artist - ITC Savlon - Savlon Handwash - Ogilvy India, Mumbai - Healthcare</li><li>Freedom, WWF India, WWF, McCann, New Delhi, Not-for-profit / Charity / Government</li><li>Man Enough: Shaving Stereotypes - Gillette - Gillette Mach3 - Grey India - Mumbai - Single-market Campaign</li><li>Pooja Didi - Facebook - Taproot Dentsu, Mumbai - Cultural Insight</li></ol><cmsannotation type="cmsannotation" annotationid="Creative E-commerce" text="Creative E-commerce">Creative E-commerce</cmsannotation> <ol><li>The Better Half Recipes - Swiggy - Swiggy Instamart - Dentsu Webchutney, Bangalore - Cultural Insight</li></ol><cmsannotation type="cmsannotation" annotationid="Creative Business Transformation Lions" text="Creative Business Transformation Lions">Creative Business Transformation Lions</cmsannotation> No shortlists <cmsannotation type="cmsannotation" annotationid="Creative Effectiveness Lions" text="Creative Effectiveness Lions">Creative Effectiveness Lions</cmsannotation> No shortlists <cmsannotation type="cmsannotation" annotationid="Radio and Audio Lions: No shortlists" text="Radio and Audio Lions: No shortlists">Radio and Audio Lions: No shortlists</cmsannotation> No shortlists <cmsannotation type="cmsannotation" annotationid="Innovation Lions" text="Innovation Lions">Innovation Lions</cmsannotation> No shortlists The Cannes Lions will announce the results for Digital Craft, Film Craft, Industry Craft, Entertainment, Entertainment for Music and Entertainment for Sport today. <div type="Article" hostid="261" msid="83744323" title="Cannes Lions 2021: India gets 8 shortlists on Day 2" mstype="2" mssubtype="0"></div>

Cannes Lions 2021: On Day 3, India secures 21 shortlists

<ul><li>Employees in the IT and manufacturing sector are expecting the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> crisis to worsen. </li><li>According to LinkedIn’s second Workforce Confidence Index, at least one in five IT and manufacturing professionals expect tougher times for their companies in the next six months. </li><li>These working professionals are concerned for their job stability and career progression. </li><li>Added to that, a third of India’s workforce already reported a dip in their incomes. </li></ul>It’s been over a month now that the employees are working from home due to <keyword id="8637077" type="UNKNOWN" weightage="20" keywordseo="Coronavirus-lockdown">Coronavirus lockdown</keyword> and employees in the IT and manufacturing sector are expecting the situation to worsen. Over 45% of the employees are now struggling with personal finances. “This strain on personal finances is particularly prevalent among business leaders as 39% of senior executives in comparison to 27% of individual contributors cite a decrease in earned income.” This in turn will hurt spending and investment. Added to that, a third of India’s workforce already reported a dip in their incomes. “A tough jobs market, <keyword id="1118212" type="PERSON" weightage="20" keywordseo="pay-cuts">pay cuts</keyword>, and an ailing economy are suspected to have caused unrest amongst Indian professionals,” the survey said. According to LinkedIn’s second Workforce Confidence Index, at least one in five IT and manufacturing professionals expect tougher times for their companies in the next six months. These working professionals are concerned for their job stability and career progression, as companies face troubled times due to COVID-19. “The ongoing pandemic is sure frightening for everyone. We’re all stressed and then there’s the added burden of being handed pink slips by the employers. In fact, various organisations have already targeted employees that fall in a higher income slab owing to the pandemic. The worst part is that they are suddenly being questioned on their performance and it is actually the reason given to them when it’s otherwise,” an employee told Business Insider on the condition of anonymity. In fact, self-employed professionals seem to be the worst hit with over 60% respondents reporting a decrease owing to the cost cutting measures adopted across businesses. The survey also highlighted working professionals’ current sentiment about the jobs market, their financial status, career progression, and their expectations going forward. Not surprisingly, most are anticipating fewer jobs in the days to come. See also: <a href="https://www.businessinsider.in/policy/economy/news/hul-ceo-had-hoped-for-a-v-shaped-economic-recovery-from-covid-19-crisis-but-investors-fear-a-lot-worse/articleshow/75547375.cms">HUL CEO had hoped for a V-shaped economic recovery from COVID-19 crisis ⁠— but investors fear a lot worse</a> <a href="https://www.businessinsider.in/business/corporates/news/two-in-five-companies-in-india-that-enabled-remote-working-by-providing-laptops-to-employees-compromised-on-security-says-a-kpmg-report/articleshow/75531518.cms">Two in five companies in India that enabled remote working by providing laptops to employees compromised on security</a> <a href="https://www.businessinsider.in/india/news/iit-launches-a-covid-19-test-bus-in-mumbai-capable-of-conducting-5-million-tests-per-month/articleshow/75546462.cms">IIT launches a Covid-19 Test Bus in Mumbai — capable of conducting 5 million tests per month</a>

Between pay cuts and a jobs crisis, nearly half of India’s workforce feels financially stretched, a survey shows

<ul><li>Both Sensex and <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> declined nearly a percent and half as Finance Minister Nirmala Sitharaman read her budget speech.</li><li>Markets were hoping for a big stimulus from the government to revive the economic growth which has hit a six and a half year low. </li><li>Changes to income tax slabs, passing of the tax on corporate dividends, liberalisation of education sector, the IPO of LIC, extended tax holiday for affordable housing were among the big proposals.</li></ul>India's <keyword id="35199" type="PERSON" weightage="20" keywordseo="stock-markets">stock markets</keyword> were unusually open on a Saturday, in anticipation of an 'economic stimulus', but as Finance Minister Nirmala Sitharaman went through with her speech, both Sensex , down nearly 700 points, and Nifty that was down about 220 points at 2:30 pm. Changes to income tax slabs, passing of the tax on corporate dividends, liberalisation of education sector, extended tax holiday for affordable housing, and the initial public offering of Life Insurance Corporation (LIC) were among the big proposals. However, the stock market did not seem very excited with the minister's proposals. "Investors stayed away from taking fresh positions ahead of the big event. Focus will turn to the Union Budget as all eyes will be on how Centre is going to bring growth as any increase in spending would result in widening of fiscal deficit. Global economy is also on the edge with slow growth fears significantly high after the outbreak of the virus," Vinod Nair, head of research at Geojit Financial Services told IANS earlier in the day. Insurance stocks like HDFC Life, ICICI Prudential, and SBI Life took a heavy beating, down anywhere between 5% and 8%, after the budget proposed the listing of LIC ⁠— the country's largest insurance giant with a corpus of ₹31 lakh crore⁠— that is likely to corner a lot of interest from investors. Technology stocks were propped up as the early part of Sitharaman's speech gave a lot of thrust to leveraging technology in a whole host of sectors from health and education to quantum computing and gene mapping. Even stocks like HUL, Asian Paints, and Bajaj Finance, which started the day on buoyant note hoping for sharp cuts in income tax and a boost for consumption including housing, gave up the early gains as the tax cuts proposed by the budget can be availed only if the taxpayer gives up on exemptions. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><colgroup></colgroup><col /><col /><col /><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;">Income </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;">Previous Tax Rate </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;">New Tax Rate </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;">Up to ₹2.5 lakh </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;">Nil </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;">Nil </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;">₹2.5 lakh to ₹5 lakh </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><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;">Nil </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;">₹5 lakh to ₹7.5 lakh </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;">20% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><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;">₹7.5 lakh to ₹10 lakh </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;">20% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10 lakh to ₹12.5 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><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;">20% </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;">₹12.5 lakh to ₹15 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><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;">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;">Abover ₹15 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr></tbody></table> While Sitharaman said that a person earning up to ₹15 lakh a year can save up to ₹78,000 a year in taxes, if they give up on exemptions. These are some of the big highlights that are relevant to the share market: Cost to the exchequer ₹40,000 crore; Removed 70 tax exemptions and deductions. These new rates are available to those who forego exemptions, deductions, and rebates. Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore. ""The decision to remove dividend distribution tax was much-needed as it was resulting in triple taxation of corporate earnings. The shift to a simplified scheme of personal income tax is another welcome move as it removes distortionary influences in the individual’s savings choices even though the actual tax savings may not be significant for those who were availing deductions and exemptions," VP Nandakumar, MD &amp; CEO of Manappuram Finance Limited said. However, the stock of the company fell over 3.2% in trade. Shares of IDBI Bank surged as much as 17% after the Finance Minister said that the government will sell its remaining 47% stake (as of December 2019) in the bank. LIC owns 51% stake in IDBI Bank, the unlocking of value will make the insurance giant's IPO even more valuable. Zeal Aqua (up 14.4%), Waterbase (up 5.58%), Apex Frozen (up 4.55%), Avanti Feeds (up 2.93%) and Coastal Corporation (up 2.66%) gained due to a dedicated push for the fishing industry. Sitharaman said that the fish production will be increased 200 lakh tonnes a year and set a target of ₹1 lakh crore in fish exports. The education sector has been allowed to borrow money from abroad as well as to invite foreign students via a new entrance examination called the INDSAT. Shares of Navneet Education (up 2.33%), Zee Learn (up 2.19%), Career Point (up 1.98%) and MT Educare (up 1.97%), gained in trade. The speech discouraged the use of chemical fertilisers, and promote organic farming, dragging down stocks like Rashtriya Chemical Fertilisers. The ₹2.83 lakh crore allocation for agriculture, irrigation, and rural development did little to stokes of a revival in rural demand. Dividend distribution tax will be taxable in the hands of the recipient and not the company. This will cost 25,000 crore to the exchequer. Dividend and capital gains made by foreign funds on investment in infrastructure space will tax free. The budget also proposed to set up a 100 new airports in the next five years but stocks of airport construction majors like GMR Infra and GVK were down nearly 5% in afternoon trade. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/new-income-tax-slab-tax-savings-for-salaried-people/articleshow/73835816.cms">You'll save ₹78,000 more under new income tax slabs if you earn less than ₹15 lakh</a> <a href="https://www.businessinsider.in/budget/news/indian-government-infuses-22000-crore-in-power-and-renewable-proposes-freedom-to-choose-supplier/articleshow/73835587.cms">Indian government infuses ₹22000 crore in power and renewable, proposes freedom to choose supplier</a> <a href="https://www.businessinsider.in/budget/income-tax/news/check-out-new-income-tax-slab-of-2021/articleshow/73830824.cms">New income tax slabs 2020</a> <a href="https://www.businessinsider.in/budget/news/there-will-be-no-manual-cleaning-of-sewers-anymore-announces-nirmala-sitharaman/articleshow/73835265.cms">“There will be no manual cleaning of sewers anymore,” announces Nirmala Sitharaman</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms">Union Budget 2020 Live Updates</a>

You Searched For "hul careers" and got 12 results

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