Latest news with #BFSI
New Indian Express
7 hours ago
- Business
- New Indian Express
IT hiring in tier-2 cities up 53% y-o-y; Coimbatore, Nagpur, Nasik lead growth
BENGALURU: IT firms are now looking beyond metro cities as tier-2 cities have emerged as key hubs for hiring. The country's tier-2 cities continue to emerge as key engines driving the nation's employment growth, according to the latest foundit Insights Tracker. It said Coimbatore (26%), Nagpur (24%), and Nasik (24%) are leading this growth, driven by sectors such as IT, BFSI, Manufacturing, and FMCG. The IT industry has seen exceptional growth in tier-2 cities, jumping 53% y-o-y, far ahead of the national average of 30%. "The hiring momentum shift towards tier-2 cities, especially in IT and Entry level roles, is notable. Job seekers now have diverse opportunities closer to home, reflecting India's rich and varied talent landscape. For employers, these cities offer strategic opportunities for sustained growth, driven by improved infrastructure, targeted investments, and the strategic intent to diversify geographically," said Pranay Kale, Chief Revenue & Growth Officer (CRGO) of foundit. "This growth, the strongest we've seen in recent years, clearly underlines tier-2 cities' increasing importance in India's employment landscape," he hiring rose 11% y-o-y in June, driven by non-IT sectors like hospitality (40%), oil & gas (29%), real estate (25%), and strong demand in healthcare. Naukri too in its report points out that after nearly a year of subdued hiring activity, the IT sector posted a 5% y-o-y growth in June turnaround was largely powered by tier-II cities, with Baroda (14%), Coimbatore (10%), Kochi (9%), and Ahmedabad (8%) emerging as key hubs. Fresher hiring was up 11% y-o-y in June, largely led by non-IT sectors, according to Naukri. Hospitality (40%), Oil & Gas (29%), and Real Estate (25%) drove this growth, along with strong traction in healthcare, the report said. The demand was particularly strong for seasoned professionals with over 16 years of experience, who saw a 16% jump in hiring. Meanwhile, AI/ML roles across industries continued to post robust growth at 42% yo-y, said Naukri. BPO/ITES continued its upward trend with 19% overall growth in June. The sector also recorded a 23% rise in fresher hiring and saw double-digit growth in mid (20%) and senior (16%) hiring. The highest salary band (20+ LPA) saw 24% growth in hiring within the sector. Pawan Goyal, ED & CBO, Naukri said, 'What stood out in June was the sharp pickup in hiring across core service sectors like Hospitality and BPO/ITES. It was also encouraging to see IT hiring turn positive after a muted spell, especially with strong demand emerging from tier-II cities.'
Mint
a day ago
- Business
- Mint
Banking, financial services MEs see 37 pc surge in AUM to ₹48,000 cr in May
New Delhi, Investment in banking and financial services sector-based mutual funds jumped 37 per cent year-on-year to ₹ 48,000 crore in May 2025. The surge in assets is backed by the strong performance of the segment. Industry data showed that these funds have delivered returns ranging from 22 to 30 per cent over the past year, highlighting the sector's robust fundamentals and growing appeal. According to the industry data, there are currently 22 banking and financial services mutual funds in the Indian market, managing a combined assets under management of ₹ 48,000 crore in May 2025 against about ₹ 34,971 crore in May 2024. The sharp rise suggests growing investor confidence in the long-term potential of the BFSI sector. The BFSI sector, which holds the distinction of being the largest by market capitalisation in India's listed space, has remained resilient amid recent market volatility. BSE financial services index has gained nearly 14 per cent in the first three months of the current financial year alone, while BSE Bankex rose 10 per cent during the period under review. Moreover, the BFSI space is likely to expand further with unlisted players in insurance, fintech, wealth management, and digital lending expected to access public markets. This trend will further broaden the investment landscape within the sector and encourage wider market participation. "India's BFSI sector is no longer just about traditional banking it's a gateway to participate in the country's digital financial revolution. "With the formalisation of the economy, rising retail participation, and a strong pipeline of quality players, this space offers long-term structural potential. For investors looking to build wealth over time, a dedicated BFSI fund with an actively managed, fresh portfolio can be a smart and timely allocation," Alpa Shah, a wealth manager, said. In line with this growing momentum, Mahindra Manulife Mutual Fund recently launched the Mahindra Manulife Banking and Financial Services Fund on June 27. The new fund offer is open until July 11 and aims to provide investors with an opportunity to participate in the sector's growth story through a portfolio aligned with current market dynamics. For investors seeking targeted exposure to India's financial transformation, a measured allocation to such funds with a minimum investment horizon of 3 to 5 years can be a prudent move, fund managers suggested.
Mint
a day ago
- Business
- Mint
Banking, financial services MEs see 37 pc surge in AUM to ₹48,000 cr in May
New Delhi, Investment in banking and financial services sector-based mutual funds jumped 37 per cent year-on-year to ₹ 48,000 crore in May 2025. The surge in assets is backed by the strong performance of the segment. Industry data showed that these funds have delivered returns ranging from 22 to 30 per cent over the past year, highlighting the sector's robust fundamentals and growing appeal. According to the industry data, there are currently 22 banking and financial services mutual funds in the Indian market, managing a combined assets under management of ₹ 48,000 crore in May 2025 against about ₹ 34,971 crore in May 2024. The sharp rise suggests growing investor confidence in the long-term potential of the BFSI sector. The BFSI sector, which holds the distinction of being the largest by market capitalisation in India's listed space, has remained resilient amid recent market volatility. BSE financial services index has gained nearly 14 per cent in the first three months of the current financial year alone, while BSE Bankex rose 10 per cent during the period under review. Moreover, the BFSI space is likely to expand further with unlisted players in insurance, fintech, wealth management, and digital lending expected to access public markets. This trend will further broaden the investment landscape within the sector and encourage wider market participation. "India's BFSI sector is no longer just about traditional banking it's a gateway to participate in the country's digital financial revolution. "With the formalisation of the economy, rising retail participation, and a strong pipeline of quality players, this space offers long-term structural potential. For investors looking to build wealth over time, a dedicated BFSI fund with an actively managed, fresh portfolio can be a smart and timely allocation," Alpa Shah, a wealth manager, said. In line with this growing momentum, Mahindra Manulife Mutual Fund recently launched the Mahindra Manulife Banking and Financial Services Fund on June 27. The new fund offer is open until July 11 and aims to provide investors with an opportunity to participate in the sector's growth story through a portfolio aligned with current market dynamics. For investors seeking targeted exposure to India's financial transformation, a measured allocation to such funds with a minimum investment horizon of 3 to 5 years can be a prudent move, fund managers suggested. This article was generated from an automated news agency feed without modifications to text.
Business Standard
2 days ago
- Business
- Business Standard
Mach Conferences secures ₹40 Crores in high value orders in last 15 days
PRNewswire New Delhi [India], June 30: Mach Conferences & Events Limited, a trailblazer in India's MICE (Meetings, Incentives, Conferences, and Exhibitions) industry, proudly announces the acquisition of seven significant high-value orders from leading companies across the BFSI, Cement, and Auto industries within the last 15 days. These orders, collectively worth nearly ₹40 crores, underscore Mach Conferences' ability to consistently deliver world-class corporate events and strengthen its reputation as a trusted partner in the industry. All seven events, involving a total of 6,104 participants, are scheduled to be executed in H1 F.Y. 2025-26, further showcasing Mach Conferences' agility and expertise in managing large-scale projects with precision and excellence. High-Value Event Details 1. Bali: A flagship event blending cultural immersion with luxury for nearly 1,000 participants. 2. Goa: A high-profile incentive event for over 1,400 participants at India's most iconic coastal destination. 3. Cordelia Cruise (Chennai): A two-night exclusive charter offering a unique luxury cruise experience for 1,500 participants. 4. Almaty: A premium event set against the scenic beauty of Kazakhstan's mountains for over 600 participants. 5. Aamby Valley: A gathering in India's luxurious hill city for 1,250 participants. 6. Masai Mara: A boutique adventure and wildlife experience for 40 participants in Kenya's iconic reserve. 7. Bali (2nd Event): Another exclusive event for approximately 250 participants, emphasizing relaxation and luxury. "Receiving these seven high-value orders within the last 15 days reflects the trust our clients place in our ability to deliver exceptional event experiences. By partnering with companies from BFSI, Cement, and Auto industries, we continue to expand our reach and reaffirm our leadership in the MICE sector," said Mr. Amit Bhatia, Chairman & Managing Director of Mach Conferences & Events Limited. Key Highlights * Total Order Value: Nearly ₹40 crore * Total Participants: 6,104 pax * Industries Served: BFSI, Cement, Auto * Destinations: Bali (two events), Masai Mara, Goa, Chennai (Cordelia Cruise), Almaty, Aamby Valley * Timeline: All events to be executed in H1 F.Y. 2025-26 These high-value orders underline Mach Conferences' expertise in executing large-scale events across diverse industries and destinations while setting new benchmarks in the MICE industry. About Mach Conferences and Events Limited: A pioneer in the MICE industry, MACH Conferences and Events has set a high standard in successfully arranging, coordinating and carrying out formal Meetings, Incentives, Conferences and Events across the globe. The Company has more than 20 years of experience with certifications from eminent bodies like IATA, ADTOI, IATO, JATA and PATA. Having conducted over 300+ large and medium-sized events in the previous 3 years involving over 30 of the most elite brands, it takes pride in claiming to be among the supreme performers in the MICE industry. Not only in the Indian subcontinent, but our wings span across multiple countries. The company has a top-notch set of experts with varied expertise apart from being blessed with an in-depth and updated knowledge of the MICE Industry. As a result, they know this sector inside out, better than the rest. For further information, please contact: Mach Conferences and Events Ltd. Ms. Yashashvi Srivastava (Company Secretary ) Email: compliance@ Website: Adfactors PR Pvt. Ltd. Ms. Samruddhi Bane/ Mr. Adtiya Tikare Email: Safe Harbour This release contains statements that contain "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Mach Conferences' future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Mach Conferences undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.
Mint
3 days ago
- Business
- Mint
FY25 dividend payouts: Cash-rich BFSI and IT companies dominate
While it is raining dividends in India Inc., the shower has been far from even. Longtime dividend powerhouses—banking, financial services, and insurance (BFSI) and information technology (IT) companies tightened their grip on the dividend charts, reaffirming their status as consistent cash-returning machines. In contrast, several traditional and growth-oriented sectors including logistics, media, and retail remained on the fringes, underlining a widening gulf in dividend distribution across industries. Leading sectors A Mint analysis of 496 BSE 500 companies based on Capitaline data covering audited, unaudited, and proposed dividends revealed that BFSI alone accounted for 21.4% of total dividend payouts in FY25, followed closely by IT & ITeS at 20.5%, meaning they together accounting for more than 40% of all payouts. Meanwhile, industries such as logistics and media contributed less than 1% each, signaling a stark divergence in corporate priorities. 'The shift towards BFSI and IT leading dividend payouts is structural, not cyclical," said Anirudh Garg, managing partner at INVasset."While both sectors deliver over 40% of total dividends, BFSI offers stability through steady earnings, whereas IT's higher payouts reflect limited growth avenues. For income investors, BFSI provides consistency while IT requires more selective picking." 'Private sector companies—especially in BFSI—have shown robust balance sheets and a clear capital allocation framework," noted Saptarshi Pandey, a stock market strategist and founder of Investeem India. 'These firms don't need to reinvest aggressively, and their predictable cash flows make them ideal dividend leaders." On the flip side, Trivesh D, chief operating officer at Tradejini, said, 'Private players with leaner payout policies and stronger growth trajectories might turn out to be better long-term bets." Metals, FMCG hold steady Beyond BFSI and IT, metals & mining contributed 11.7% to these bounties, with oil & gas and FMCG accounting for 9.2% and 8.9% respectively. However, the oil & gas sector showed visible signs of pressure—dividend payouts dropped 28% year-on-year, echoing a steep 32% decline in net profits. Once a dependable dividend contributor, the sector appears to be retreating amid tightening cash flows. In contrast, metals & mining and FMCG companies turned in a strong performance with dividend payouts rising 28.4% and 12.6%, respectively, closely tracking robust profit growth of 20.3% and 35.3%. At the other end of the spectrum were the so-called marginal sectors—industries that together accounted for less than 2% of the FY25 dividend pool. Logistics, media & entertainment, textiles, travel & hospitality, retail, and consumer durables all posted payouts that barely moved the needle. Growth divide Dividend generosity was muted in several of these segments despite notable profit growth. Logistics firms, for instance, slashed dividends by a staggering 76% even as profits grew 20.5%. Media and entertainment companies reported a 171% surge in earnings but increased dividends by just 9%. In contrast, retail firms saw payouts grow 71.1% year-on-year, supported by a modest 14% rise in profits. Travel and hospitality players raised their payouts by 59% on the back of a 20% jump in profits. However, consumer durables and textiles painted a mixed picture. Dividend payouts in the consumer durables sector rose 5%, in line with a 13.6% rise in profits. Meanwhile, textile firms defied earnings pressure: despite a sharp 27% decline in profits, they still increased their dividends by 21.2%. 'Despite strong profit growth in FY25, sectors like media, travel, and retail contributed less than 1% to the dividend pool primarily because companies in these segments are prioritising reinvestment over distribution. Many are in growth or recovery phases, post-pandemic, focusing on scaling operations, expanding digital infrastructure, or improving margins," said Pandey. This is the concluding part of a four-part series of data stories on the dividends declared by India Inc. Read the first part here, second part here and third part here.
