Gratuity payment calculations are governed by specific guidelines outlined in the Payment of Gratuity Act. (AI image) Salaried employees quite often have gratuity as a component of their CTC (cost to company). The Payment of Gratuity Rules, 1972, stipulates that staff members become entitled to gratuity after completing five years of uninterrupted service with an…
Tesla is likely to source essential vehicle control components from Tata Electronics. (AI image) Several Tata Group companies have silently established themselves as global suppliers to Elon Musk-led Tesla, which represents approximately half of the global automotive industry’s market value. These companies – Tata AutoComp, Tata Consultancy Services, Tata Technologies, and Tata Electronics – are…
AESL, an Adani portfolio company, operates across various energy sectors including transmission, distribution, smart metering. Adani Energy Solutions Ltd (AESL) has secured a power transmission project in Gujarat that will facilitate the supply of green electrons for Green Hydrogen and Green Ammonia production in Mundra, Gujarat. The project, valued at Rs 2,800 crore, has a…
March 2025 bank holidays: With the financial year drawing to a close, people and businesses typically hasten to finalise their banking activities, including tax submissions, investment decisions and monetary settlements. Whilst many prefer conducting bank visits on Saturdays to avoid workday conflicts, it is essential to verify bank operating hours as per the Reserve Bank…
The Nifty IT Index has declined approximately 15% since the beginning of 2025. (AI image) Accenture’s quarterly results have raised concerns for Indian IT sector’s growth prospects, with technology stocks, including industry leaders TCS, HCL Tech, and Infosys, experiencing a significant drop of up to 3% on Friday. Accenture’s results have led to worries about…
Market experts anticipate continued recovery in the short term. (AI image) Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Friday. While BSE Sensex was down over 100 points, Nifty50 was near 23,150. At 9:16 AM, BSE Sensex was trading at 76,237.17, down 111 points or 0.15%. Nifty50…
MUMBAI: US investment firm Bain Capital has signed definitive agreements to acquire joint control in Kerala-based Manappuram Finance – India’s second-largest gold loan company.Bain Capital will invest around Rs 4,385 crore for an 18% stake through a preferential allotment of equity and warrants at Rs 236 per share, reflecting a 30% premium over the six-month…
Microsoft Corp, the biggest backer of Sam Altman’s OpenAI, and BlackRock Inc, which has an executive on the artificial intelligence startup’s board, are joining forces with one of his chief rivals.Microsoft and BlackRock said on Wednesday that Elon Musk’s xAI is joining their effort to build $30 billion worth of data centers and other artificial…
MUMBAI: RBI net sold $11.1 billion in the spot foreign exchange market in Jan, according to data released on Wednesday. It purchased $49.2 billion and sold $60.3 billion during the month.This was lower than Dec 2024, when RBI bought $54 billion and sold $69 billion, resulting in net sales of $15 billion. From April 2024…
MUMBAI: India remains the most cost-effective destination for remittances, yet recipients still lose around 5% of the money sent by relatives abroad in transfer costs.According to a Reserve Bank of India (RBI) study, the global average cost of sending $200 has fallen (from nearly 9.7% in 2009 to around 6.7% in Q2 2024) but remains…
