Sensex, Nifty open on choppy note; IT stocks tumble
The Hindu
Infosys was the top loser in the Sensex pack
Equity benchmarks Sensex and Nifty opened on a choppy note on Wednesday, September 7, 2021, led by weakness in index-heavyweight IT stocks amid tepid cues from global markets. Despite opening with mild gains, the 30-share Sensex turned volatile to trade 41.84 points or 0.07 per cent lower at 58,237.64. Similarly, Nifty slipped 15.35 points or 0.09 per cent to 17,346.75 in initial deals. Infosys was the top loser in the Sensex pack, shedding over 1 per cent, followed by PowerGrid, HCL Tech, TCS, Tech Mahindra, Maruti and Bajaj Auto.
GCCs keep India’s tech job market alive, even as IT services industry embarks on a hiring moratorium
Global Capability Centres, offshore subsidiaries set up by multinational corporations, mostly known by an acronym GCCs, are now the primary engine sustaining India’s tech job market, contrasting sharply with the hiring slowdown witnessed by large firms in the country.

Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.

In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.










