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The larger job market in India remains buoyant across sectors – even amid layoffs by a clutch of startups in recent months – and employees will generally continue to call the shots through FY23. “We see FY23 to remain an employees’ market with some amount of adjustments. Employees still have the bargaining power, opportunities and enjoy the benefit of demand,” said RP Yadav, chairman of Genius Consultants, a staffing and human resource company. While information technology and IT-enabled services will continue recruiting, e-commerce, logistics and export-oriented sectors including textiles and leather goods are doing well in terms of hiring. The consumer goods sector will increasingly do well, as will the retail and hospitality segment, according to staffing firms, HR experts and talent managers. The near-normal level of economic activity in retail and hospitality is indicative of a revival in these sectors after a prolonged phase of weakness due to the pandemic and offers a … [Read more...] about Amid startup layoffs, larger job market remains buoyant across sectors

INQUIRER.net stock images WASHINGTON — It’s often said that people who click right away share “chemistry.” This expression could be true in the literal sense, according to a new study published in the journal Science Advances on Friday, which finds people with similar body odors are more likely to hit it off as friends. “Nonhuman terrestrial mammals constantly sniff themselves and each other and, based on this, decide who is friend or foe,” wrote a group of researchers led by Inbal Ravreby at Weizmann Institute of Science in Israel. Since people seek friends who are similar to themselves, the team hypothesized that humans may smell themselves and others to subconsciously estimate body odor similarity and judge their compatibility. To find out, they set about collecting samples from pairs of same-sex, nonromantic friends who described themselves as having clicked at first sight, that is to say “where a sense of friendship was formed before extensive biographical information … [Read more...] about Friends at first sniff: People smelling alike do hit it off

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Reported Consolidated quarterly numbers for R Systems International are: Net Sales at Rs 343.11 crore in March 2022 up 38.54% from Rs. 247.65 crore in March 2021. Quarterly Net Profit at Rs. 29.69 crore in March 2022 up 19.31% from Rs. 24.88 crore in March 2021. EBITDA stands at Rs. 46.80 crore in March 2022 up 30.04% from Rs. 35.99 crore in March 2021. R Systems Intl EPS has increased to Rs. 2.51 in March 2022 from Rs. 2.08 in March 2021. Close R Systems Intl shares closed at 217.75 on June 23, 2022 (NSE) and has given -28.38% returns over the last 6 months and 54.21% over the last 12 months. R Systems International Consolidated Quarterly Results in Rs. Cr. Mar'22 Dec'21 Mar'21 Net Sales/Income from operations … [Read more...] about R Systems Intl Consolidated March 2022 Net Sales at Rs 343.11 crore, up 38.54% Y-o-Y

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × CD Equisearch's research report on Vinati Organics As per Crisil Research, the Indian specialty chemicals industry is expected to outpace its Chinese counterpart and almost double its global market share to ~6% by 2026. Much of this growth will be powered by solid export tailwinds due to a shift in the global supply chain driven by the China+1 policy of vendors and demand recovery in domestic end-user segments. Currently, the industry is confronted with a sharp rise in input costs, including fuel costs, and facing logistical challenges emerging from China. Beyond the ‘Chine plus one’ opportunity within agrochemical and pharmaceutical manufacturing, tailwinds from the imminent investment cycle in e-mobility, batteries, and renewables have further expanded the total addressable market that has … [Read more...] about Accumulate Vinati Organics; target of Rs 1983: CD Equisearch

In those first few fraught hours of February 24th, after Russian forces invaded Ukraine, Anastasiia Smyk, CEO and co-founder of aviation software startup Input Soft , recalls being in a state of shock and incredulity. She was in Kyiv at the time, but her 11-strong team was scattered around the country. advertisement advertisement “The first week we were just thinking about how to survive at a human level,” says the 25-year-old entrepreneur. “So we decided to rent a house for our team in the Carpathian mountains, in the [safer] western part of Ukraine, and told them they could go there with their families to wait until we knew more about what was happening. Some of them went. Others were unable to get out.” One of those left behind was the startup’s accountant, whose home town of Kherson, in southern Ukraine, has been under Russian occupation since early March. On May 3rd, when the internet and mobile communications went down, she decided to risk her … [Read more...] about The war in Ukraine hasn’t ended. Here’s how these founders continue to build their businesses

Metro Brands, according to the company’s Draft Red Herring Prospectus filed before launching its IPO last year, operated about 598 exclusive and multi-brand outlets across 136 cities in the country. Footwear retailer Metro Brands, which sells footwear and accessories under in-house brands such as Metro Shoes, Mochi, Walkway, and partner brands such as Crocs, embarked on an omni-channel journey during the pandemic, which led to exponential surge in its sales. According to the company, it currently draws about 10 percent of its sales from digital channels, such as marketplaces, compared to 2 percent in the pre-pandemic period. Alisha Malik, president, e-commerce and marketing and a member of the promoter-founder family, in a conversation with Anuradha Sengupta, said two years of pandemic made people digitally savvy and pushed the growth of the channel. “The pandemic also taught people how to understand what they really want in terms of the comfort of their footwear and how they … [Read more...] about How Metro Brands’ massive offline presence is helping its online journey

Representative image Walmart Inc-owned payments unicorn PhonePe's consolidated net loss for 2020-21 (FY21) remained largely unchanged, even as the company reported a sharp rise in revenues, as its employee costs surged over two times during the period. PhonePe reported a consolidated net loss of Rs 1,728 crore for FY21, against a consolidated net loss of Rs 1,771 crore a year earlier, according to financial data accessed by the business intelligence platform, Tofler. During the year, the company reported an 85 percent rise in its revenue from operations to Rs 690 crore, the data showed. PhonePe's employee benefit costs for the year jumped to Rs 1,235 crore from Rs 480 crore a year earlier, the data showed. According to Tofler, the share-based remuneration to the key management personnel for FY21 was Rs 608 Crore. However, the company halved its advertising and promotional expenses to Rs 535 crore from Rs 1,017 crore a year earlier. The payments company, in April, had said … [Read more...] about PhonePe’s FY21 loss little changed even as revenues soar 85%

Representative Image After multiple rounds of deliberations, the Digital Lenders Association of India (DLAI) has decided to seek a six-month extension and meetings with Reserve Bank of India (RBI) representatives on the regulator's recent clarification barring several fintechs from facilitating credit through Prepaid Payment Instruments (PPIs) of their partner banks. While a final representation is yet to be sent to the regulator, Moneycontrol could gain access to the draft letter of June 24 addressed to the Department of Payment and Settlement Systems and the Department of Regulation within the RBI. In the letter, DLAI argued that business models that involve lending through prepaid instruments like wallets and prepaid cards were developed with: (a) the objective of ensuring accessibility of affordable and easy credit to the middle and low-income households in India and achieving financial inclusion; and (b) safeguards to account for systemic risks in transactions as … [Read more...] about Digital lenders seek 6-month extension, meeting with RBI, on PPI-based lending

PhonePe CEO Sameer Nigam (Image credit: Photo tweeted by @_sameernigam) Payments and financial services company PhonePe has clear plans to list on the stock exchanges some day and when ready the company will launch an initial public offering (IPO) in India, founder and CEO Sameer Nigam said. Speaking in an episode of CNN News18 ’s Bits to Billions, Nigam said that the company is also in the process of moving its registered entity from Singapore to India. Missed Bits to Billions? Watch it here: PhonePe Is Made In India, Will List In India: How Sameer Nigam & Rahul Chari Built A Unique Unicorn "We are moving our holding company to India, and we will list here. Our board has already signed off on it, it's just a matter of time now," he said. "We are a made in India company. Every office, data centre, and employee of ours is here. There is no reason why we should not contribute to wealth creation in this market." Close PhonePe's move to bring back its … [Read more...] about PhonePe is made in India and will list in India, says CEO Sameer Nigam

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The board of food delivery company Zomato on June 24 approved the acquisition of quick commerce company Blinkit for Rs 4,447 crore in an all-stock deal. Also, Zomato ’s restaurant supplies subsidiary Hyperpure will acquire the warehousing and ancillary services business of Hands on Trade Private Limited for Rs 60.7 crore. While the Blinkit deal value was earlier estimated to be upwards of $700 million, the drop in Zomato’s stock price has reduced it to $568 million at current exchange rates. “Quick commerce has been our stated strategic priority since the last one year. We have seen this industry grow rapidly both in India and globally, as customers have found great value in quick delivery of groceries and other essentials,” said Zomato CEO Deepinder Goyal. “This business is also … [Read more...] about Zomato board approves deal to acquire Blinkit for Rs 4,447 crore