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Economic Times
2 days ago
- Business
- Economic Times
TCS layoffs: Jobs cut due to skill mismatch, not AI automation, says CEO K Krithivasan
TCS layoffs 2025: Tata Consultancy Services (TCS) announced plans to cut about 2% of its global workforce, or roughly 12,000 employees, on Sunday. But the company's CEO, K Krithivasan, says this is not because of artificial intelligence replacing jobs for efficiency gains. Krithivasan told Moneycontrol in an interview that the job cuts are due to a 'skill mismatch' and stressed that TCS will continue searching for high-quality talent. In a statement to ET on Sunday, the IT major said, 'TCS is on a journey to become a future-ready organisation… As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2% of our global workforce, primarily in the middle and the senior grades, over the course of the year.' TCS also confirmed that affected employees will be paid for their notice periods and receive a severance package. In addition, the company plans to offer extended insurance benefits and outplacement support to help those of June end, the Mumbai-headquartered Tata subsidiary had a workforce of 613, company stressed that the transition is being carefully managed to avoid any disruption to client services.'We understand that this is a challenging time for our colleagues likely to be affected. We thank them for their service and we will be making all efforts to provide appropriate benefits, outplacement, counselling, and support as they transition to new opportunities,' the company shares dipped nearly 2% on Monday, reaching an intraday low of Rs 3,081.6 on the decision to lay off staff comes shortly after multiple TCS employees lodged legal complaints over the company's revised bench policy, which limits employees to 35 days without project deployment annually, and requires a minimum of 225 billable days each year. Also Read: TCS layoffs: IT major to mass fire 12,000 senior, mid-level staffers amid AI push
Time of India
6 days ago
- Business
- Time of India
IEX shares plunge 26% to 52-week low as market coupling gets go-ahead. What should investors do?
Shares of IEX plunged 26% after CERC approved market coupling in the day-ahead segment, threatening its monopoly in price discovery. Analysts advise caution amid oversold signals, regulatory uncertainty, and weak technicals. Key support lies at Rs 120–150. A wait-and-watch approach is recommended for fresh investors. Tired of too many ads? Remove Ads What should investors do now? Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Indian Energy Exchange IEX ) came under heavy selling pressure on Thursday, crashing 26% intraday to hit a fresh 52-week low of Rs 139.05 on the sharp decline followed the Central Electricity Regulatory Commission's ( CERC ) decision to approve market coupling in the day-ahead market segment—a move expected to dilute IEX's dominant position in electricity price stock, which was already under pressure in recent sessions, opened with a significant gap-down and hit its lower circuit limit, triggering widespread investor regulatory change is viewed as a structural shift in the power trading landscape, leading to a marked shift in market sentiment around the steep correction and regulatory headwinds, analysts are advising caution on fresh positions while outlining key levels for existing investors to Mishra, SVP – Research at Religare Broking, noted that IEX has declined sharply following the CERC's approval of market coupling, dragging the stock to a four-month low.'Going forward, the Rs 120–Rs 140 zone is expected to offer strong support, while the Rs 170–Rs 180 zone may act as resistance during any recovery attempts,' he added that existing investors should manage their positions based on these key levels, while fresh investors are advised to stay on the sidelines and wait for signs of price stability before considering any Matalia, Derivative Analyst at Choice Broking, stated, 'Today's sharp gap-down breakdown not only breached the consolidation zone but also broke below key swing lows, confirming a fresh leg of weakness.'He added that the Relative Strength Index (RSI) is now at a deeply oversold level of 17.68, signaling persistent selling pressure and no immediate signs of advised that short-term traders avoid fresh buying at current levels. 'For those already holding the stock, any bounce should be used to exit, as the recent regulatory move may continue to weigh on IEX's price performance in the near term,' he said. He also recommended that investors considering fresh long positions should wait for further clarity and signs of price S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, identified Rs 150 as a critical support level. He pointed out that this area aligns with both the anchored volume profile and the yearly S3 Camarilla pivot, suggesting a possible technical base.'Analysts suggest adopting a wait-and-watch approach for the next 4–5 sessions, as the stock may attempt to stabilize and form a base in the Rs 140–150 zone before any meaningful reversal,' Jigar of 12:40 p.m., shares of IEX remained locked in their 26% lower read: Nestle Q1 Results: Consolidated PAT falls 13% YoY to Rs 647 crore, revenue rises 6% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)On Thu, Jul 24, 2025 at 12:41 PM Nishtha Awasthi < > wrote:
Economic Times
6 days ago
- Business
- Economic Times
IEX shares plunge 26% to 52-week low as market coupling gets go-ahead. What should investors do?
What should investors do now? Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Indian Energy Exchange IEX ) came under heavy selling pressure on Thursday, crashing 26% intraday to hit a fresh 52-week low of Rs 139.05 on the sharp decline followed the Central Electricity Regulatory Commission's ( CERC ) decision to approve market coupling in the day-ahead market segment—a move expected to dilute IEX's dominant position in electricity price stock, which was already under pressure in recent sessions, opened with a significant gap-down and hit its lower circuit limit, triggering widespread investor regulatory change is viewed as a structural shift in the power trading landscape, leading to a marked shift in market sentiment around the steep correction and regulatory headwinds, analysts are advising caution on fresh positions while outlining key levels for existing investors to Mishra, SVP – Research at Religare Broking, noted that IEX has declined sharply following the CERC's approval of market coupling, dragging the stock to a four-month low.'Going forward, the Rs 120–Rs 140 zone is expected to offer strong support, while the Rs 170–Rs 180 zone may act as resistance during any recovery attempts,' he added that existing investors should manage their positions based on these key levels, while fresh investors are advised to stay on the sidelines and wait for signs of price stability before considering any Matalia, Derivative Analyst at Choice Broking, stated, 'Today's sharp gap-down breakdown not only breached the consolidation zone but also broke below key swing lows, confirming a fresh leg of weakness.'He added that the Relative Strength Index (RSI) is now at a deeply oversold level of 17.68, signaling persistent selling pressure and no immediate signs of advised that short-term traders avoid fresh buying at current levels. 'For those already holding the stock, any bounce should be used to exit, as the recent regulatory move may continue to weigh on IEX's price performance in the near term,' he said. He also recommended that investors considering fresh long positions should wait for further clarity and signs of price S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, identified Rs 150 as a critical support level. He pointed out that this area aligns with both the anchored volume profile and the yearly S3 Camarilla pivot, suggesting a possible technical base.'Analysts suggest adopting a wait-and-watch approach for the next 4–5 sessions, as the stock may attempt to stabilize and form a base in the Rs 140–150 zone before any meaningful reversal,' Jigar of 12:40 p.m., shares of IEX remained locked in their 26% lower read: Nestle Q1 Results: Consolidated PAT falls 13% YoY to Rs 647 crore, revenue rises 6% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)On Thu, Jul 24, 2025 at 12:41 PM Nishtha Awasthi < > wrote:
Time of India
6 days ago
- Business
- Time of India
Vijay Kedia exits Tata stock after making multibagger returns in 5 years
Vijay Kedia appears to have exited Tejas Networks after a stellar 975% return in five years, as his name is missing from the latest BSE shareholding data. The exit aligns with weak Q1FY26 results, where the company reported a sharp drop in revenue and a net loss of Rs 194 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tejas Networks Q1 results Tejas Networks share price performance After delivering a 975% return over the last five years, veteran investor Vijay Kedia appears to have exited his position in Tata Group-backed Tejas Networks , as his name no longer features in the latest public shareholding data uploaded on the BSE for the quarter ended June 30, move comes nearly five years after he first gained exposure to the telecom equipment per the shareholding pattern for the June 2025 quarter, Kedia Securities — under which Kedia held his stake — was not listed among public shareholders. In the preceding quarter ending March 2025, he held 18 lakh shares or a 1.02% stake in the name dropping off the list could indicate a complete exit or a reduction in holdings to below 1%, which doesn't require public of Tejas Networks fell 3.3% today, hitting a new 52-week low of Rs 605 on the sharp fall in the stock also follows the company's first-quarter earnings, where it reported a net loss of Rs 194 crore for Q1FY26 — a steep reversal from a profit after tax (PAT) of Rs 77 crore in the same quarter last for Q1FY26 stood at Rs 202 crore, an 87% year-on-year decline from Rs 1,563 crore in Q1FY25. For the full year FY25, revenue was Rs 8,923 read: Sebi shares Jane Street probe details with SEC Over the past one year, the stock has declined by 51.87%, while on a year-to-date (YTD) basis, it is down 48.10%. The stock has also registered a 44.14% loss over the last six months. In the most recent three-month and one-month periods, it has fallen by 30.93% and 12%, respectively.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
6 days ago
- Business
- Economic Times
Vijay Kedia exits Tata stock after making multibagger returns in 5 years
Live Events Tejas Networks Q1 results Tejas Networks share price performance (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel After delivering a 975% return over the last five years, veteran investor Vijay Kedia appears to have exited his position in Tata Group-backed Tejas Networks , as his name no longer features in the latest public shareholding data uploaded on the BSE for the quarter ended June 30, move comes nearly five years after he first gained exposure to the telecom equipment per the shareholding pattern for the June 2025 quarter, Kedia Securities — under which Kedia held his stake — was not listed among public shareholders. In the preceding quarter ending March 2025, he held 18 lakh shares or a 1.02% stake in the name dropping off the list could indicate a complete exit or a reduction in holdings to below 1%, which doesn't require public of Tejas Networks fell 3.3% today, hitting a new 52-week low of Rs 605 on the sharp fall in the stock also follows the company's first-quarter earnings, where it reported a net loss of Rs 194 crore for Q1FY26 — a steep reversal from a profit after tax (PAT) of Rs 77 crore in the same quarter last for Q1FY26 stood at Rs 202 crore, an 87% year-on-year decline from Rs 1,563 crore in Q1FY25. For the full year FY25, revenue was Rs 8,923 read: Sebi shares Jane Street probe details with SEC Over the past one year, the stock has declined by 51.87%, while on a year-to-date (YTD) basis, it is down 48.10%. The stock has also registered a 44.14% loss over the last six months. In the most recent three-month and one-month periods, it has fallen by 30.93% and 12%, respectively.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
