Latest news with #AnandDeshpande
Time of India
4 days ago
- Business
- Time of India
There won't be shortage of work due to technological developments: Anand Deshpande
Anand Deshpande presented medals to eight rank holders and conferred degree certificates to 361 graduates. COIMBATORE: There might be a shortage of jobs due to technological developments, but there won't be a shortage of work, and 'we should have the ability to convert work into a job,' said Dr Anand Deshpande, founder, chairman and managing director of Persistent Systems. "Those who are able to adapt, find out new things as they come along and learn are the ones who succeed. No one would be aware of what more is awaiting in the next 10 or 15 years. Hence continuous learning is very important,' Deshpande said while speaking at an award ceremony for the science stream - class of 2025 at the PSG College of Technology in Coimbatore. He said being ambitious, dreaming big and learning continuously were key to success. 'Making mistakes is normal but repeated mistakes are definitely a flow to progress,' he said. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai He said the ability to come back after every failure would make a difference within oneself and also with others. 'Mistakes are common but repetitive mistakes become a flaw for success. With every mistake one must improve and ensure a better performance in the same," he said. He said Indians find it hard to get along with people from other countries. "Indians perform exceptionally well when they are in homogeneous groups which is a setback for growth. The country has to adapt to team up with other countries," he said. He said holding to personal values was as important as being consistent in a career. He underscored that every individual should be clear about his or her needs, right, wrong and compromises to make a firm decision. Anand presented medals to eight rank holders and conferred degree certificates to 361 graduates.
Business Standard
09-06-2025
- Business
- Business Standard
Nifty ends tad above 25,100 level; PSU bank shares in demand
The key equity indices ended with modest gains today, extending their winning streak to a fourth session, supported by the Reserve Bank of Indias unexpected policy easing and upbeat global cues. The Nifty ended a tad above the 25,100 level. Barring the Nifty Realty index, all the other sectoral indices on the NSE ended in green. As per provisional closing data, the barometer index, the S&P BSE Sensex, added 256.22 points or 0.31% to 82,445.21. The Nifty 50 index rose 100.15 points or 0.40% to 25,103.20. In the past four trading sessions, the Sensex and Nifty advanced by 2.12% and 2.28%, respectively. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.03% and the S&P BSE Small-Cap index added 1.19%. The market breadth was strong. On the BSE, 2,809 shares rose and 1,395 shares fell. A total of 131 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.42% to 14.69. Economy: Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data. The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said. Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty PSU Bank rose 1.52% to 7,208.45. The index gained 2.3% in the two consecutive trading sessions. Bank of India (up 3.86%), Bank of Maharashtra (up 3.38%), Indian Bank (up 2.79%), Indian Overseas Bank (up 2.37%), Punjab National Bank (up 1.86%), Canara Bank (up 1.69%), Punjab & Sind Bank (up 1.56%), Union Bank of India (up 1.3%), Central Bank of India (up 1.26%) and State Bank of India (up 0.89%) advanced. Stocks in Spotlight: JSW Steel rose 0.24%. The company recorded consolidated steel production of 22.73 lakh tonnes in May 2025, which is higher by 8% as compared with the production volume of 20.98 lakh tonnes reported in May 2024. Mahindra & Mahindra (M&M) shed 0.52%. The company said that its total production jumped 27.56% to 89,626 units in the month of May 2025, compared with 70,261 units produced in the same period last year. HDFC Bank shed 0.01%. The bank said that the Mehta Family, throughthe Lilavatii Kirtilal Medical Trust, has filed an FIR against the bank and its MD and CEO Sashidhar Jagdishan in an attempt to thwart the recovery of the long outstanding loan dues owed to the bank. Persistent Systems added 1.98% after the companys board approved the reappointment of Dr. Anand Deshpande as the managing director (MD) of the company for the next term of 5 consecutive years. Multi Commodity Exchange of India (MCX) jumped 7.22% after the company said it received approval from the Securities and Exchange Board of India (SEBI) to launch electricity derivatives. Capri Global Capital surged 19.52% after the company launched the autopay facility for gold loans, eliminating the need for manual payments or branch visits. This new feature is designed to make gold loan repayments more convenient, secure, and hassle-free for customers. RailTel Corporation of India added 3.10% after the company announced that it has secured two significant work orders worth a total of Rs 259.07 crore from government entities in Bihar and Himachal Pradesh. Afcons Infrastructure added 2.65% after the firm received a letter of award (LoA) from Reliance Industries (RIL) worth Rs 700 crore for the execution of construction works related to the Vinyl Projects at Dahej, Gujarat. Glenmark Pharmaceuticals rose 0.68%. The drug maker announced the upcoming launch of zanubrutinib in India, following approval from the Drugs Controller General of India (DCGI). Larsen & Toubro (L&T) rose 0.69%. The company announced that its heavy civil infrastructure (HCI) vertical has secured a significant order from JSW Energy for the execution of the Bhavali pumped storage project (PSP) in the state of Maharashtra. Global Markets: European markets traded lower on Monday as global investors remained cautious ahead of the upcoming US-China trade talks, which are expected to take place in London. Asian stocks ended higher as investors awaited trade discussions between the United States and China and reviewed the latest economic data from China and Japan. China's consumer price index declined 0.1% year-on-year in May, unchanged from the previous month, according to government data released Monday. The producer price index fell 3.3% year-on-year, marking the sharpest decline in 22 months and following a 2.7% decrease in April. Japan's gross domestic product contracted 0.2% year-on-year in the JanuaryMarch quarter. While better than the preliminary estimate of a 0.7% decline, it reflected a reversal from 2.4% growth in the previous quarter. Reports indicated that China granted temporary approvals for rare earth exports, and Boeing resumed commercial aircraft deliveries to China. In the United States, equities closed higher on Friday following the release of nonfarm payroll data and news of upcoming trade talks. The US economy added 139,000 jobs in May, down from Aprils revised figure of 147,000. March payrolls were also revised lower to 120,000. Average hourly earnings increased by 0.1% on a monthly basis in May, resulting in a 0.4% annual pace, reflecting ongoing wage pressures. President Donald Trump stated that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer would meet Chinese officials in London on Monday to discuss trade matters.
Business Standard
09-06-2025
- Business
- Business Standard
Persistent Systems gains on re-appointing Dr. Anand Deshpande as MD
Persistent Systems added 1.22% to Rs 5,747.85 after the company's board has approved the re-appointment of Dr. Anand Deshpande as the managing director (MD) of the company for a next term of 5 consecutive years. Dr. Anand Deshpande is the founder, chairman, and managing director of Persistent Systems since inception and is responsible for the overall leadership of the company. He is also the promoter shareholder of the company. Dr. Deshpande received his Bachelor of Technology (B. Tech.) with Honours (Hons.) in Computer Science and Engineering from the Indian Institute of Technology (IIT), Kharagpur, in 1984 and an M.S. and a Ph.D. in Computer Science from Indiana University, Bloomington, Indiana, USA in 1986 and 1989 respectively. He has been recognised by both his alma maters - as a Distinguished Alumnus by IIT Kharagpur in 2012 and with the Career Achievement Award by the School of Informatics of Indiana University in 2007. Dr. Anand is a founding trustee of the Persistent Foundation, a trustee of the VLDB Endowment, the co-chair of the Biotechnology Research Innovation Council (BRIC) set up by the Department of Biotechnology, Government of India, and the Chairman of the VJTI Board of Governors. He is also an honorary Adjunct Professor of Practice at the Desai Sethi School of Entrepreneurship at IIT Bombay. He is on the Board of the Mahratta Chamber of Commerce and Industries, Pune, a trustee on the Board of BAIF and has served industry associations as a past President of Software Exporters Association of Pune (SEAP), Pune Chapter of Computer Society of India (CSI), and CIIs Pune Zonal Council. Dr. Deshpande does not have any inter-relationship with any other director. Persistent Systems is a global services and solutions company delivering digital engineering and enterprise modernization to businesses across industries. Its net profit advanced 6.1% to Rs 395.76 crore on a 5.87% increase in revenue to Rs 3,242.11 crore in Q4 FY25 over Q3 FY25. However, on a year-on-year basis, the company's consolidated net profit gained 25.51% on a 25.15% increase in revenue in Q4 FY25 over Q4 FY24.
Business Standard
09-06-2025
- Business
- Business Standard
Barometers trade with modest gains; metal shares shine
The key equity benchmark continued to trade with decent gains in early afternoon trade buoyed by the Reserve Bank of India's firm monetary policy stance and positive global sentiment. The Nifty hovered above the 25,100 level. Metal shares extended gains for the fourth consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex, added 351.20 points or 0.43% to 82,540.19. The Nifty 50 index rose 114.20 points or 0.46% to 25,117.45. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.93% and the S&P BSE Small-Cap index added 1.11%. The market breadth was strong. On the BSE, 2,777 shares rose and 1,248 shares fell. A total of 180 shares were unchanged. Economy: Indias forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. For the week ended May 30, foreign currency assetsa major component of the reservesfell $1.952 billion to $584 billion, according to the RBI data. The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said. Indias reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.46% to 14.70. The Nifty 26 Jun 2025 futures were trading at 25,190, at a premium of 72.55 points as compared with the spot at 25,117.45. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 57.4 lakh contracts at the 26,000 strike price. Maximum put OI of 48.5 lakh contracts was seen at 24,000 strike price. Buzzing Index: The Nifty Metal index rose 1.18% to 9,517.35. The index added 4.33% in the past four trading sessions. Hindustan Zinc (up 4.45%), Jindal Stainless (up 4.22%), NMDC (up 2.76%), Vedanta (up 2.71%), Lloyds Metals & Energy (up 2.58%), Hindustan Copper (up 1.61%), Adani Enterprises (up 1.53%), Jindal Steel & Power (up 1.42%), JSW Steel (up 0.65%), and Tata Steel (up 0.32%) advanced. On the other hand, Welspun Corp (down 1.38%), APL Apollo Tubes (down 1.28%) and Steel Authority of India (down 0.32%) edged lower. Stocks in Spotlight: Persistent Systems added 1.72% after the companys board has approved the re-appointment of Dr. Anand Deshpande as the managing director (MD) of the company for a next term of 5 consecutive years. Glenmark Pharmaceuticals rose 0.63%. The drug maker announced the upcoming launch of zanubrutinib in India, following approval from the Drugs Controller General of India (DCGI).
