Infosys sees ‘good activity' on projects; moves forward with new hiring
As the sector faces an AI-led employee shift, Infosys is betting on skills over job cuts. CEO Salil Parekh said the company is experiencing strong demand from clients in areas where it has strong skills. He reiterated the company's target of hiring 20,000 freshers during FY26, which was set at the end of the previous fiscal year.
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News18
28 minutes ago
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JSW Cement IPO: Rs 3,600-Crore Issue Opens August 7; Check Key Dates, Financials & More
Reported By : Last Updated: August 03, 2025, 11:47 IST JSW Cement To Launch Rs 3600 Cr IPO On August 07. JSW Cement IPO: The Sajjan Jindal-led JSW Group and backed by private equity firms Apollo Global and Synergy Metals, JSW Cement, is set to raise Rs 3,600 crore through its initial public offering (IPO), opening on August 7. The offer will remain open for subscription till August 11, while the anchor book for institutional investors will open on August 6. The total issue size is lower than the previously proposed Rs 4,000 crore, as per the latest red herring prospectus (RHP). The allotment of JSW Cement will be finalised on August 12, and JSW Cement shares will debut on the BSE and NSE on August 14. If launched, this would mark the first IPO from a large Indian cement player since Nuvoco Vistas' Rs 5,000 crore listing in August 2021, which was backed by the Nirma Group. It also comes less than a year after JSW Infrastructure's public listing in October 2023—the first IPO from the JSW Group in 13 years. JSW Cement's IPO plans arrive at a time of heightened consolidation and competitive intensity in India's cement sector, which has seen a series of mergers and acquisitions involving top players like UltraTech Cement (Aditya Birla Group) and the ACC-Ambuja combine (Adani Group). JSW Cement had earlier acquired Shiva Cement in 2017, which now acts as a clinker supplier—a key ingredient in cement manufacturing—for the parent company. The IPO is being managed by a consortium of investment banks including JM Financial, Kotak Mahindra Capital, Jefferies, Axis Capital, Citi, Goldman Sachs, DAM Capital, and SBI Capital Markets. Khaitan & Co is acting as the company's legal counsel. GMP for JSW Cement IPO has not started yet. JSW Cement's Expansion Plans JSW Cement focuses on manufacturing green cementitious products such as portland slag cement, portland composite cement, and ground granulated blast furnace slag. The company also produces ordinary portland cement and a range of allied products including ready-mix concrete, construction chemicals, waterproofing compounds, and screened slag. As of March 2024, the company had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA) and clinker capacity of 6.44 MMTPA. According to the DRHP, proceeds from the fresh issue will be utilised for setting up a new integrated cement plant in Nagaur, Rajasthan, repaying debt, and general corporate purposes. Swipe Left For Next Video View all Founded in 2009 in southern India, JSW Cement currently operates seven plants across the country. The company aims to more than double its grinding capacity to 40.85 MMTPA and clinker capacity to 13.04 MMTPA in the coming years. Its long-term target is to reach a total cement production capacity of 60 MMTPA. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. Varun Yadav Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst... Read More Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst... Read More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! view comments News business » ipo JSW Cement IPO: Rs 3,600-Crore Issue Opens August 7; Check Key Dates, Financials & More Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Read More
Mint
2 hours ago
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TCS layoffs: Is efficiency the new growth strategy?
On 27 June, Tata Consultancy Services (TCS) made headlines when it announced plans to cut approximately 12,000 jobs, marking the largest layoff in the software services major's history. The move sparked debate, with some industry observers interpreting it as fallout from artificial intelligence (AI), and warning of similar cuts at other major firms. However, TCS chief executive K. Krithivasan attributed the decision to skill mismatches, not AI. Days later, Infosys CEO Salil Parekh said his company remained committed to hiring 20,000 freshers in FY26. The contrasting statements suggested that the layoffs were likely tied to TCS's internal restructuring rather than indicative of an industry-wide trend. Still, the sector hasn't resolved the structural challenges that have built up over the past few years. Investor confidence in IT stocks has eroded significantly from a year ago. While major companies have delivered strong returns over five years, their stock prices have declined over the past year—falling further in 2025 and trailing the BSE Sensex's modest 3% year-to-date gain. Much of the market pessimism stems from softening demand in key Western markets, where clients are tightening budgets while AI capabilities expand. This has forced the industry to focus heavily on cost-cutting and efficiency improvements. Major IT players have dramatically reduced their workforce—TCS, Infosys, HCLTech, Wipro, and Tech Mahindra together employ 56,000 fewer people now than they did two years ago. Western pressures Some of this drive comes from the sector's peers in the West. A worldwide efficiency push has driven massive tech layoffs. According to tech companies eliminated over 80,000 positions in the first half of 2025 alone, following 152,000 cuts in 2024 and 264,000 in 2023. This restructuring wave, spearheaded by industry giants like Microsoft, Google, and Amazon, has established new investor benchmarks for operational efficiency across the sector. But Indian IT services companies face a different challenge. They can't simply slash costs as product companies do, since revenue depends on billable hours. At the same time, their enterprise clients are reportedly demanding 20-30% price cuts, citing expected AI-driven productivity. The reality is more tempered. Parekh, for instance, recently told the Times of India that AI and automation are currently yielding productivity gains of only 5–15%. This mismatch between client expectations and actual impact is prompting firms to seek savings elsewhere. Client squeeze Part of the efficiency drive is also rooted in sluggish demand. On TCS's latest earnings call, Krithivasan observed that decision-making delays and project deferrals for discretionary investments had persisted and worsened through the June quarter. Workforce reductions over the past two years have enabled TCS and other tier-I firms to sustain or enhance revenue per employee, a critical performance metric for these companies. While leading IT services companies have stagnated, growth has been driven by global capability centres (the in-house tech hubs of multinational companies) and smaller players. The number of GCCs expanded by 40% in FY24 alone. Nasscom projected earlier this year that revenues of GCCs in FY25 would roughly match IT service exports, with the total industry headcount growing by 126,000 to reach 5.8 million in FY25, up from 5.58 million in FY23. Efficiency drive In effect, IT services majors that once powered the sector's employment boom are now prioritizing profitability over headcount growth. Margins across leading firms have come under pressure, as pricing constraints and intensifying competition weigh on the sector. TCS, which has consistently reported the highest margins among peers, also made the boldest restructuring move—underscoring how central efficiency will be in the years ahead. The logic is clear: stronger margins enable more competitive pricing. In a market where demand may return but pricing remains tight, efficiency will be key to success. And as the industry transitions to output-based pricing, the most efficient firms will capture the biggest gains. But the impact goes beyond margins. The layoffs have triggered legal and social pushback. Karnataka's IT employees' union has filed an industrial dispute against TCS, alleging illegal retrenchment. The episode has also reignited long-standing debates around CEO compensation and employee protections in India's tech sector. However, there are implications beyond financial metrics. The layoffs have sparked legal and social pushback. Karnataka's IT employees union filed an industrial dispute against TCS, alleging that the company illegally retrenched people. The layoffs have also reignited debates over CEO compensation. is a database and search engine for public data.
News18
2 hours ago
- News18
Punishment By Tariff: How Trump's Trade Crackdown Is Hitting BRICS Nations
Trump's rhetoric stresses high tariffs for nations that do not comply with his expectations, particularly BRICS, which he has labelled as pursuing 'anti-American policies' With Donald Trump's 'America First" policy, several countries are learning what happens when they don't align with US policy priorities. Instead of traditional military pressure or diplomatic isolation, Trump relies heavily on economic tools — tariffs, sanctions, and unilateral executive actions — to compel compliance. Trump has used tariffs as a tool to address perceived economic imbalances and geopolitical concerns, particularly focusing on countries like Brazil, India, and Russia, which are part of the BRICS bloc (Brazil, Russia, India, China, South Africa, and others). As Brazil, India, and Russia navigate US trade and foreign policy, let's examine what happens when world leaders do not align with Trump's directives and how he responds with punitive measures. What's Trump's Approach To Global Trade? Since returning to office in January, Trump has implemented a sweeping tariff regime to reduce the US trade deficit and promote domestic manufacturing. His administration views tariffs as both an economic and political tool, targeting countries perceived as engaging in unfair trade practices or aligning with policies contrary to US interests. The BRICS bloc, representing over half the world's population and 40% of its economic output, is a significant target due to its growing influence as an alternative to Western-led economic systems. Trump's strategy involves imposing tariffs—ranging from 10% to 50%—and unspecified 'penalties" on countries that fail to meet his demands, such as reducing trade barriers, altering energy purchasing patterns, or aligning with US geopolitical goals. These measures are often accompanied by public statements that highlight trade deficits, national security concerns, or support for specific foreign political figures. Brazil: Tariffs Tied To Political Motives Brazil, under President Luiz Inácio Lula da Silva, has faced significant pressure from Trump, particularly through a 50% tariff on Brazilian goods announced in July, set to take effect on August 1. This tariff, an escalation from an earlier 10% levy, appears tied to both economic and political objectives. Trump has accused Brazil of 'insidious attacks" on US tech companies and conducting a 'witch hunt" against former Brazilian President Jair Bolsonaro, a political ally facing trial for an alleged coup attempt following the 2022 election. Trump's letter to Brazil suggested the tariffs were meant to 'rectify the grave injustices of the current regime," indicating support for Bolsonaro. The 50% tariff is notable because the US enjoys a trade surplus with Brazil, making it an unusual target for Trump's protectionist policies, which typically focus on countries with which the US has a trade deficit. US-Brazil trade was an estimated $92.0 billion in 2024, with US exports to Brazil standing at $49.7 billion, up 11.3% ($5.0 billion) from 2023. Additionally, Trump has threatened a Section 301 investigation into Brazil's digital trade practices, signalling a potential escalation through established legal channels. This move follows Brazil's Supreme Court rulings holding social media companies accountable for content, including temporary bans on platforms like X for refusing to remove accounts spreading disinformation. What's Brazil's Response? Lula has responded defiantly, framing the tariffs as an attack on Brazil's sovereignty. In a CNN interview, he stated, 'We cannot have President Trump forgetting that he was elected to govern the US… not to be emperor of the world." Lula has capitalised on the tariffs to bolster his domestic support, appearing at rallies with a cap reading 'Brazil belongs to the Brazilians," echoing nationalist sentiments. This has given Lula a political boost, with polls showing increased approval as he positions himself as a defender of Brazilian autonomy against foreign interference. Brazil's government has signalled it may retaliate with reciprocal tariffs on US goods, though analysts question whether Brazil has the economic leverage to sustain a prolonged trade war. Analysts suggest that Trump's actions may inadvertently push Brazil closer to Beijing, as China stands to benefit from strained US-Brazil relations. Public reaction in Brazil has been marked by protests, including a demonstration in São Paulo where an effigy of Trump was burned, reflecting widespread anger over perceived US meddling. Lula's administration has resisted calls to grant Bolsonaro amnesty, with Brazilian Supreme Court Justice Alexandre de Moraes issuing punitive orders against him, including an ankle bracelet mandate, underscoring Brazil's commitment to its judicial process despite US pressure. How Is India Balancing Trade & Geopolitics? India faces a 25% tariff on its goods announced by Trump on July 30, effective August 1, along with an unspecified 'penalty" for its trade with Russia, particularly for purchasing Russian energy and military equipment. Trump has slammed India for having some of the world's highest tariffs and 'obnoxious" non-monetary trade barriers, as well as for being a major buyer of Russian oil and gas at a time when he seeks a ceasefire in Ukraine. The tariff is slightly lower than the 26% rate imposed earlier on 'Liberation Day," but the additional penalty remains undefined, creating uncertainty. US trade with India was estimated at $129.2 billion last year. US goods exports to India stood at $41.8 billion, up 3.4% ($1.4 billion) from 2023. India's position within BRICS complicates its response. Unlike other members, India maintains close ties with the US through the QUAD (US, India, Japan, Australia) while also participating in China's Shanghai Cooperation Organization. This nonaligned stance allows India to navigate tensions between the US and China, but Trump's tariffs put New Delhi in a delicate position, as alienating BRICS partners or the US could have economic and political repercussions. What's India's Response? The Ministry of Commerce and Industry has stated it is 'studying" the implications of Trump's tariffs while remaining committed to negotiating a 'fair, balanced, and mutually beneficial" trade agreement with the US Indian trade delegations are actively working in Washington to secure exemptions or reductions in tariffs, aiming to maintain competitive advantages against China. India's economic strategy includes diversifying trade partnerships within BRICS and beyond, while continuing to purchase Russian energy, which is critical for its economy. The country's non-alignment policy allows it to engage with both Western and non-Western blocs, but analysts note that India is wary of being seen as a 'Trojan horse" within BRICS due to its US ties. Russia Faces Secondary Tariffs Russia, under President Vladimir Putin, has been targeted with threats of 100% secondary tariffs on countries purchasing its oil and gas, announced in early July, unless a ceasefire is reached in Ukraine. These tariffs indirectly affect BRICS nations like India and Brazil, which rely on Russian energy, but Russia itself faces significant pressure due to its role in the Ukraine conflict. Trump's rhetoric stresses stopping 'the killing in Ukraine," tying economic penalties to geopolitical demands. What Has Been Russia's Response? Russia has not directly addressed Trump's tariff threats in the provided context, but its participation in the BRICS summit in Brazil in July indicates a strategy of strengthening economic ties with other Global South nations to counter US pressure. Foreign Minister Sergei Lavrov's presence at the summit, alongside leaders from Brazil, India, and China, underscores Russia's focus on multilateralism through BRICS. The bloc's joint statement avoided direct criticism of Russia's actions in Ukraine, suggesting a unified front against Western sanctions and tariffs. Russia continues to supply energy to countries like India and China, leveraging these relationships to mitigate the impact of US tariffs. The BRICS summit's call for a Multilateral Guarantees initiative within the New Development Bank aims to lower financing costs for member states, providing an alternative to Western financial systems. Last year, US total goods trade with Russia were an estimated at $3.5 billion, with exports to Moscow touching $526.1 million, down 12.3% ($73.5 million) from 2023. US goods imports from Russia totalled $3 billion in 2024, down 34.2% ($1.6 billion) from 2023. What Are The Broader Implications Of Trump's Tariffs? The responses of Brazil, India, and Russia highlight a broader trend: while Trump's tariffs and penalties aim to compel compliance, they often strengthen nationalist sentiments and push countries towards alternative alliances, particularly with China. Brazil's defiance, India's diplomatic balancing act, and Russia's reliance on BRICS solidarity illustrate varied strategies to navigate US pressure. These nations are leveraging multilateral platforms, domestic political narratives, and trade negotiations to mitigate economic impacts while asserting sovereignty. The long-term effects of Trump's policies remain uncertain. While they may achieve short-term concessions, they risk alienating key partners and accelerating the Global South's shift towards China-led economic frameworks. For now, Brazil, India, and Russia are adapting through a mix of resistance, negotiation, and strategic realignment, ensuring they maintain autonomy in a turbulent global trade environment. top videos View all About the Author Shilpy Bisht Shilpy Bisht, Deputy News Editor at News18, writes and edits national, world and business stories. She started off as a print journalist, and then transitioned to online, in her 12 years of experience. Her More Get Latest Updates on Movies, Breaking News On India, World, Live Cricket Scores, And Stock Market Updates. Also Download the News18 App to stay updated! tags : BRICS india russia deal India US trade russia oil view comments Location : New Delhi, India, India First Published: July 31, 2025, 10:52 IST News explainers Punishment By Tariff: How Trump's Trade Crackdown Is Hitting BRICS Nations Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
