HCLTech CEO C Vijayakumar earns $10.85 mn in FY25; more than TCS, Infosys heads
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New Indian Express
16 minutes ago
- New Indian Express
China's Ant Group to fully exit Paytm by selling 5.84% stake
China's Ant Group is all set to exit One 97 Communications, the parent company of Paytm, as it plans to sell its remaining 5.84% equity stake in the fintech firm through block deals on Tuesday. Sources said that the total value of the deal is pegged at Rs 3,800 crore. The floor price for the block deal has been fixed at Rs 1,020 per share, a 5.4% discount to Paytm's last closing price of Rs 1,078.20 on Monday on the NSE. The stake sale is likely to be executed as a clean-out trade, indicating a full exit of Antfin's specified stake in a single tranche. At the end of the June quarter, Antfin (Netherlands) Holding B.V. held a 5.84% stake, or 3.77 crore shares in the company, according to exchange data. Antfin has been reducing its stake in Paytm in recent quarters. This is the third significant stake sale by the Ant Group in One 97 Communications and is expected to lead to the full exit of the Chinese investor from the company. In May 2025 and August 2023, the Alibaba-owned company sold about a 14.3% stake of Paytm for about Rs 8,830 crore.
India Today
23 minutes ago
- India Today
Bengaluru techie earning Rs 26 LPA bags Rs 70 LPA offer, reveals how in viral post
A Bengaluru-based techie claimed he received an offer of Rs 70 LPA from a company while earning Rs 28 LPA. Yes, you read that right. Surprisingly, he said he had only switched two his journey in a now-viral post on X, Saurabh Yadav said he had no IIT background, no MBA, or any other fancy degree.'First job: Rs 26 LPA, second: Rs 28 LPA, third: Rs 70 LPA. No IIT, no MBA, just worked hard. What about you?' read the caption on his Yadav, who had previously worked at Flipkart, shared a detailed post about his remarkable salary hike, from Rs 26 LPA to Rs 70 LPA, which he achieved after just two job switches. His post soon went viral on social media, drawing attention for showing how consistent effort and strategic career moves can lead to significant growth, even without degrees from prestigious institutions like IITs or an had previously worked at a look at the post here:first job: 26LPAsecond: 28LPAthird: 70LPAno IIT. no MBA. just worked about you?— Saurabh (@saurabhyadavz) August 3, 2025The comments section was soon flooded with reactions. "Awesome, man," a user wrote, while another added, "Just saw you're from my college. Quite an inspiration."Several others congratulated Yadav on his achievement, calling his journey both motivating and the comments here:Some users also shared their experiences in the comments section. "First job: Rs 36LPA. Second: Rs 98LPA. No IIT, no MBA. Just worked hard," a user commented.- EndsTrending Reel
India Today
23 minutes ago
- India Today
Tesla's brand loyalty took a hit after Musk backed Trump as US President: Report
Tesla for years had more repeat US customers than any other major automotive brand, but its loyalty has plunged since CEO Elon Musk endorsed President Donald Trump last summer, according to data from research firm S&P Global Mobility shared exclusively with data, which has not been previously reported, shows Tesla's customer loyalty peaked in June 2024, when 73% of Tesla-owning households in the market for a new car bought another Tesla, according to an S&P analysis of vehicle-registration data in all 50 industry-leading brand loyalty rate started to nosedive in July, that data showed, when Musk endorsed Trump following an assassination attempt in Pennsylvania on the Republican nominee. The rate bottomed out at 49.9% last March, just below the industry average, after Musk launched Trump's budget-slashing Department of Government Efficiency in January and started firing thousands of government US loyalty rate has since ticked back up to 57.4% in May, the most recent month the S&P data is available, putting it back above the industry average and about the same as Toyota but behind Chevrolet and Ford.S&P analyst Tom Libby called it "unprecedented" to see the runaway leader in customer loyalty fall so quickly to industry-average levels. "I've never seen this rapid of a decline in such a short period of time," he and Musk did not respond to requests for Monday, Tesla granted Musk 96 million shares worth about USD 29 billion, a move aimed at keeping the billionaire entrepreneur at the helm as he fights a court ruling that voided his original pay deal for being unfair to timing of Tesla's plunging brand loyalty suggests the CEO's involvement in politics turned off customers in the EV pioneer's eco-conscious customer base, some analysts said. "If they have Democratic leanings, then perhaps they consider other brands in addition to Tesla," said Seth Goldstein, an analyst at ageing model lineup also faces stiffer competition from an array of EVs from legacy automakers including General Motors, Hyundai and BMW. The only new model Tesla has released since 2020, its triangular Cybertruck, has proved a flop despite Musk's prediction of hundreds of thousands of annual an April earnings call, Tesla CFO Vaibhav Taneja singled out "the negative impact of vandalism and unwarranted hostility towards our brand and people," but also said there were "several weeks of lost production" when the company retooled factories to produce a refreshed version of its top-selling Model on the April call said that "absent macro issues, we don't see any reduction in demand".advertisementTesla vehicle sales overall are falling globally and have declined 8% in the United States the first five months of 2025, according to S&P. Sales fell 33% over the first six months of the year in Europe, where public backlash to Musk's politicking has been particularly increased political activism was "very bad timing" for Tesla, said Garrett Nelson, an analyst who tracks the EV maker at CFRA Research, because it came exactly as the company faced heightened competition from Chinese EV makers and other traditional automakers. He said his top concerns for Tesla are its loss of market share and "what can be done to repair the brand damage".LOYALTY NOSEDIVETesla remains the US electric-vehicle sales leader but has seen its dominance erode as Musk last year delved into politics and focused Tesla more on developing self-driving technology than on new affordable models for human loyalty is a closely watched auto-industry metric because it is "much more expensive" to take new customers from competitors than to retain existing ones, said S&P's Libby.S&P offers some of the most detailed industry data on automotive purchases because it analyses vehicle registration data from all 50 states on a household-by-household basis. Unlike survey data, it follows actual vehicle transactions to track how consumers migrate among brands and the fourth quarter of 2021 through the third quarter of last year, more than 60% of Tesla-owning households bought another one for their next car purchase, the data show. Only one other brand – Ford – posted a quarterly loyalty rate exceeding 60% during the period, and only DEFECTIONSS&P's data also examines another aspect of the automotive market: Which brands and models are taking customers away from others, and which ones are losing them?Until recently, Tesla was in a different stratosphere than other automotive brands on this metric. For the four years prior to July 2024, Tesla, on average, acquired nearly five new households for every one it lost to another other brand from a major automaker was even close: Hyundai's luxury Genesis brand was the next best, acquiring on average 2.8 households for every one it lost, followed by Kia and Hyundai, which acquired on average 1.5 and 1.4 households, respectively, for every one they lost. Ford, Toyota and Honda lost more households on average than they gained during that average inflow of customers started to decline in July 2024, along with its loyalty rate. Since February, Tesla has been gaining fewer than two households for every one it loses to the rest of the industry, its lowest level ever, according to the data."The data shows clearly that the net migration to Tesla is slowing," Libby that now attract more Tesla customers than they lose to Tesla include Rivian, Polestar, Porsche and Cadillac, the data Mulberry, client portfolio manager at Tesla investor Zacks Investment Management, said he isn't concerned about Tesla's long-term earnings because he expects enormous profits from its plans to operate robotaxis and licence self-driving technology to other launched a small test of robotaxis in Austin in June, giving rides to hand-picked fans and Internet personalities but the service isn't available to the general public. If Tesla succeeds in expanding the technology, Mulberry said, "there's a case to be made that Tesla doesn't need to sell cars and trucks anymore".- EndsTune InMust Watch
