Saturday, April 16, 2022

LITTLE CORRELATION BETWEEN MONSOONS & MARKET RETURNS

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In the holiday-shortened week, benchmark Indian stock indices fell nearly 2 percent amid soft global markets. However, persistently high inflation, rising bond yields and no outcome in the Russian-Ukrainian peace talks with new sanctions against Russia added to investor concerns. For the week Sensex lost 1,108.25 points 1.86% to close at 58338 while the nifty fell 308 points, down 1.73% to end at 17475. Reliance Industries lost the most market value followed by Infosys, HDFC Bank and Housing Development Finance Corporation last week. On the other hand, ICICI Bank, Sun Pharmaceutical Industries and ITC contributed most of their market value. Large IT companies such as TCS & Infosys have also encouraged their employees to come to the office physically. Do you know the work-from-home plans of the two big IT companies.

INFOSYS PHASED PLAN

Infosys started calling people to offices as early as this month. From now on, only executives will come into the office. After announcing its March 2022 quarterly results, Infosys reporters that 95% of the workforce is currently working remotely, while only 5% of senior executives are coming into the offices. The company has a three-phase plan for working from home. We already rolled out the first phase in April and in this people who are in their home locations where DCs are located or in the upstate town near the DCs are encouraged to come into the office twice a week get . We're already seeing traction on it.

HCL PLAN
Another IT major, HCL Tech. One of our top priorities is the safety and well-being of our employees and their families. We remain strongly committed to maintaining our business normality, thereby ensuring uninterrupted services to our customers. We are currently monitoring the situation and continue to work in a hybrid model HCL
Tech to report net profit at Rs. 3,304.4 crore down 4% quarter-on-quarter up 1.6%.

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