Latest news with #DalalStreet
Mint
6 days ago
- Business
- Mint
Axis Bank share price cracks 7% as weak Q1 results disappoint. Opportunity for bottom fishing?
Axis Bank share price crashed over 7% in early trade on Friday after the private lender disappointed Dalal Street investors with weak Q1 results. Axis Bank shares fell as much as 7.4% to ₹ 1,073.95 apiece on the BSE. Axis Bank reported a 3.8% drop in its net profit for the fiscal first quarter ended June 2025 to ₹ 5,806.14 crore from ₹ 6,034.64 crore in the year-ago period. The net interest income (NII) in Q1FY26 rose 0.8% to ₹ 13,560 crore from ₹ 13,448 crore, year-on-year (YoY). Net Interest Margin (NIM) during the quarter was at 3.80% as against 3.97% in the previous quarter and 4.05% in the year-ago period. Asset quality deteriorated with gross non-performing asset (NPA) ratio rising to 1.57% as on June 30, 2025, from 1.28% as on March 31, 2025. Net NPA ratio of the bank increased to 0.45% in Q1FY26, from 0.33% sequentially. At 9:25 AM, Axis Bank share price was trading 4.31% lower at ₹ 1,109.90 apiece on the BSE.
Entrepreneur
13-07-2025
- Business
- Entrepreneur
Not Just Tech, But Geek-Led Strategy
"The best CEOs are also their CTOs, that's the concept. And this will be true not just for tech companies. It will be true for every industry because every industry will be disrupted and rediscovered by a geek," says R. Srikrishna, CEO & Executive Director, Hexaware Technologies You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In 2014, R. Srikrishna, fondly known as Keech, took the reins of a modest mid-sized IT firm following a tenure with HCL Technologies. Over the decade, he has seen several things shape up at Hexaware Technologies, including an acquisition by Carlyle, the acquisition of data consulting firm Softcrylic, onboarding Rahul Dravid as 'Cultural Ambassador, and re-listing on the Indian bourses earlier this year. On February 19, it made a comeback on Dalal Street with an INR 8,750 crore IPO, making it India's largest IT public offering to date. "When I joined Hexaware in 2014, we were a much smaller company with strengths in ERP and enterprise applications. At the time, the broader IT industry had grown nearly sixfold, while Hexaware had grown less than threefold. The belief then was that midsize companies could not outpace industry leaders. We set out to challenge that, and we did," shares R. Srikrishna, CEO & Executive Director, Hexaware Technologies. The IT veteran, on being asked the boldest move, recalls one hiring- Vinod Chandran, "Appointing someone who had spent nearly three decades in sales, as our Chief Operating board was turned out to be exactly the kind of bold bet we needed to scale the company responsibly while staying agile." However, for Srikrishna, what made both moves bold was not the idea itself but the belief that change at that scale requires full commitment, across levels, and functions. The IT player is giving wings to talent from smaller cities such as Dehradun, Coimbatore and Ahmedabad. They began executing this strategy full throttle in late 2023. This approach has given it a significant advantage over its competitors. It boasts of being already among the largest IT employers in Dehradun. The IIM-Calcutta and IIM-Madras alumnus quips, "In traditional services firms, "geeks" rarely had a real seat at the table... That mindset—geeks leading from the front—is what produced our current edge, and it is exactly what will sustain it as the market gets noisier." Citing the likes of Mark Zuckerberg, Elon Musk, Jeff Bezos, and Jack Ma, Keech shares, "The best CEOs are also their CTOs, that's the concept. And this will be true not just for tech companies. It will be true for every industry because every industry will be disrupted and rediscovered by a geek." On the way ahead, the Hexaware CEO notes, "Our most important priority now is profitable growth, with a clear ambition to reach $3 billion in revenue by calendar year 2029. That is faster than we have grown historically." The company closed 2024 with USD 1.4 billion in revenue, up 13.7 per cent YoY and plans to focus on product engineering and expanding into the India and Middle East markets.
New Indian Express
13-07-2025
- Business
- New Indian Express
Priya Nair: Pulling all the right levers
That Dalal Street has given a five-notch salute to the news of a small-town girl Priya Nair moving to the corner room of the country's largest fast moving consumer goods (FMCG) maker is less about she being the first-ever woman to lead the 92-year-old Hindustan Unilever, but more about her accomplishments during her three decades in the company. Priya's journey began in 1995 as a management trainee in the company that is also known as the 'CEO Factory' for grooming dozens of trainees into chief executives of large multinational corporations. Born in a middle class Malayalee family in the Maharashtra's sugar town of Kolhapur, Priya does not boast of a degree from the top B-schools – she graduated from Sydenham College in Bombay and then a master's in marketing from Symbiosis Management Institute in Pune (not from top tier IIMs), Nair's rise to the top itself breaks many a myth. The immediate reference points that the market is lapping up are how Priya has turned around the struggling beauty and skin care business of the Anglo-Dutch consumer goods giant in London as its president since 2023 and has made it a 13-billion-poundprofit company. Back home as the executive director of the home care division (2014-20), she helped boost the segmental profit margins from a low 13.1% to 18.8%, which also lifted HUL's overall margins from 15% to 22.3%. The market is also benchmarking her against the stellar show that Sanjiv Mehta (the CEO before the outgoing incumbent Rohit Jawa), who was instrumental in more than doubling annual sales to Rs 58,000 crore from Rs 25,000 crore, and market-cap soaring four times to over Rs 5.5 lakh crore during his five-year term ending in June 2023. Priya doing an encore is what the expectation is. Analysts and markets have already factored in her ability to do the not-so-easily-doable that too at a stellar scale. London-based Priya assumes a 5-year tenure from August 1 at a time when the company is facing slowing growth and intense competition from fast moving D2C brands and new-age players. Under the watch of the outgoing leadership, sales barely climbed 2% while the stock plunged 10%.
Indian Express
13-07-2025
- Politics
- Indian Express
Inside Track: Maratha latecomers
Sitting in the safety of Delhi, away from Raj Thackeray's slap-happy goons, I admit ashamedly that although my formative years were spent largely in Mumbai, my Marathi remains rudimentary. I am not alone — just 36 per cent of people in the city consider Marathi their mother tongue. Yet, once again, there is a move to exhibit Marathi chauvinism by compelling residents of this cosmopolitan, multi-cultural metropolis to speak the same language as the rest of the state. The champions of 'speak only in Marathi', forget that Mumbai's history and heritage is distinct and different from the rest of Maharashtra. The Marathi manoos are actually relatively late migrants to Mumbai and the city precedes the state. The original inhabitants of the islands were Koli fisherfolk and Aagri farmers from the Konkan. Portuguese missionaries converted some locals to Catholicism who were latter dubbed 'East Indians', since they worked for the East India company. The Portuguese seized the seven islands of Mumbai from the Gujarat ruler Bahadur Shah in 1534 AD, but shortsightedly handed it over to the British in 1668 as part of the dowry of their princess, Catherine de Braganza. The Parsis arrived in Mumbai from Gujarat and dominated during the city's early history. In 1750, they built Asia's first dry port. Many of the landmark heritage buildings, statues and seminal institutions in the city have Parsi origins. For over a decade after Independence, Gujarat and Maharashtra were part of Bombay state, as Prime Minister Nehru was reluctant to split the state along linguistic lines. But pressure mounted from both Maharashtra and Gujarat. The real dispute was over who would retain Mumbai. The Gujaratis believed they had an equal claim since the population of Gujaratis and Maharashtrians in the city was approximately equal. But after the bifurcation of Bombay state in 1960, the city became part of Maharashtra. Marathi speakers, however, never succeeded in dominating the city's ethos, which reflects India's plurality. Mumbai attracts people from all over, not just for job opportunities but because of its vibrancy, urbane outlook and Bollywood. Today the number of north Indians from UP, Bihar and MP probably equals the native Marathi speakers. There are a sizable numbers of Gujaratis, Goans Punjabis, South Indians and Sindhis as well. If I never learnt to speak Marathi fluently in my childhood, it was because then there was no impetus to do so. In those days, Gujarati was the lingua franca in the courts, Dalal Street and the business world; even household helps came from Goa or Gujarat. In school, I was exempted from studying Marathi because my father was in a transferable government job. In later years, the pressure to learn Marathi increased. My sister, a lecturer in a Mumbai government college, had per force to learn Marathi in her middle age as her salary increments were blocked until she passed the language exam. In the rest of Maharashtra, where people speak only in Marathi, knowing the language is essential. My parents, grandparents and even anglicised cousins from Pune spoke fluent Marathi. So do traders and shopkeepers from Gujarat and Rajasthan who have settled in the state for generations. Language is a matter of convenience and choice, not to be exploited for grandstanding and political gain. The Thackeray cousins have raised the 'speak only in Marathi issue' to woo the sizable Marathi vote bank as the long-delayed BMC poll is finally likely to be held. The opposition Sena eagerly seized the opportunity when CM Devendra Fadnavis misguidedly sought to introduce Hindi at the junior level in schools as part of the three-language formula. (Fadnavis has since withdrawn the order.) The various Shiv Senas should remember that founder Bal Thackeray never made speaking Marathi in Mumbai part of his agenda. Whenever I interviewed him, he was happy to speak to me in English. Thackeray's original platform was that Marathi speakers get a fair deal in employment in the city since South Indians, because of their superior English language skills, were appropriating a disproportionate share of jobs. Only later did North Indians and Muslims become Sena targets. Just as it is ill-advised to force Mumbaikars to speak Marathi, it is equally short-sighted to push Hindi on a reluctant southern populace. Less than 43 per cent of India speak Hindi as their mother tongue. While it is politically in vogue today for the ruling party leaders to denounce speaking in English as a colonial hangover, for most Indians, particularly in cities, English remains the language of aspiration and ambition. Nearly all my domestic helps have informed me proudly that they work for the extra income so that that they can send their children to private English-medium schools and pay tuition fees. For our politicians, the overwhelming majority of whom send their own offspring to English-speaking institutions, to rail against English is hypocritical.
Hindustan Times
11-07-2025
- Business
- Hindustan Times
Sensex sinks 690 pts as IT and auto stocks drag, tariff jitters weigh in
Key benchmark indices Sensex and Nifty declined for the third session in a row on Friday, dropping nearly 1 per cent, dragged down by heavy selling in IT, auto, and energy stocks. From the Sensex firms, Tata Consultancy Services declined 3.46 per cent after reporting its June quarter earnings.(REUTERS) Tariff-related uncertainties amid mixed global market trends also added to the pressure, analysts said. The 30-share BSE Sensex tanked 689.81 points or 0.83 per cent to settle at 82,500.47. During the day, it fell 748.03 points or 0.89 per cent to 82,442.25. Similarly, the 50-share NSE Nifty dropped 205.40 points or 0.81 per cent to 25,149.85. Also Read | F&OMO and more: How Jane Street shook up Dalal Street From the Sensex firms, Tata Consultancy Services declined 3.46 per cent after reporting its June quarter earnings. The country's largest IT services company on Thursday reported a 6 per cent growth in June quarter net profit at ₹12,760 crore, helped by a jump in non-core income even as revenues grew at a tepid pace. The rupee revenue grew 1.3 per cent to ₹63,437 crore during the quarter. Still, it was down by over 3 per cent on a constant currency basis, as the company faced headwinds in its major markets amid a winding down of the BSNL deal, which helped it in recent quarters. Mahindra & Mahindra, Bharti Airtel, Tata Motors, Titan, HCL Tech, Bajaj Finance, Reliance Industries, Trent, Infosys and HDFC Bank were among the other major laggards from the pack. Shares of Hindustan Unilever Ltd (HUL) surged 4.61 per cent following the announcement that Priya Nair will become the first woman CEO and MD of the firm, effective August 1, 2025. Also Read | Why didn't Sebi act sooner against Jane Street, asks Congress Axis Bank, NTPC, Eternal and State Bank of India were also among the gainers. "The domestic market experienced a negative close due to a sober start to Q1 earnings season and a ramp-up in the tariff threat by the US to impose a 35 per cent tariff on Canada. Investors may continue to be focused on quarterly earnings for a buy-on-dips strategy. However, in the near term, the current premium valuation and the global headwinds like low spending and tariff uncertainties may restrain new inflows. "The IT index underperformed due to deferment in orders and new investments, which may impact FY26 earnings estimates," Vinod Nair, Head of Research, Geojit Investments Limited, said. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index settled lower, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended higher. Also Read | Brazilian currency, stock market take a plunge as Donald Trump hikes tariff rate to 50% European markets were trading lower. The US markets ended in positive territory on Thursday. Global oil benchmark Brent crude climbed 0.31 per cent to USD 68.85 a barrel. Foreign Institutional Investors (FIIs) bought equities worth ₹221.06 crore on Thursday, according to exchange data. On Thursday, the Sensex dropped 345.80 points or 0.41 per cent to settle at 83,190.28. On similar lines, the Nifty declined 120.85 points or 0.47 per cent to 25,355.25.
