TCS CEO has a billion-dollar brief, but a budget paycheck
Why Infy's Parekh takes home more than TCS' CEO despite being smaller In FY25, K Krithivasan received INR26.5 crore, a modest bump of 4.6% over the previous year. In contrast, Infosys boss Salil Parekh took home INR80.6 crore, and Wipro's Srinivas Pallia managed a cool INR53.6 crore. So, why the pay gap? How currency creators are chasing the gold standard again According to the latest survey by the World Gold Council, 95% respondents expect gold
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Mint
an hour ago
- Mint
Israel-Iran war: Birlasoft, Cyient to FSL — IT stocks nosedive despite hawkish US Fed guidance
Israel-Iran war: Shares of IT companies fell sharply in Thursday's trading session despite US Federal Reserve kept the key interest rates unchanged and on rising worries of Israel-Iran war. Despite holding interest rates unchanged for the sixth consecutive meeting, the Federal Reserve reaffirmed expectations for two rate cuts in 2025, as shown in the updated "dot plot," which outlines forecasts from individual policymakers. However, the Fed lowered its projected rate cuts for 2026 and 2027, indicating a slower pace of monetary easing in the longer term. After the announcement, Indian IT stocks faced selling pressure. The steep decline in IT stocks dragged the Nifty IT index down by almost 1 per cent during early trading. Cyient share price saw a significant fall of over 4 per cent to ₹ 1,287 on June 18, meanwhile, shares of Birlasoft and Firstsource Solutions also declined between 2-3 per cent. Other IT companies like Tech Mahindra, Infosys, LTI Mindtree also saw their shares trade lower around 2%. Tech Mahindra dropped close to 3 per cent, while OFSS, Persistent Systems, Coforge, Mphasis, and Infosys registered losses ranging from 1 per cent to 2.6 per cent. However, IT giant Wipro and Brightcom Group shares defied the overall market trend and traded higher. ' The US Fed meeting outcome to keep the interest rates unchanged is on the expected lines, but its guidance for two interest rate cuts in 2025 is good news for Indian IT companies. However, this is insufficient to clear the uncertainty caused by the Israel-Iran war. Therefore, we are witnessing selling pressure in the Indian IT companies,' said Sandeep Pandey, Co-founder of Basav Capital. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
an hour ago
- Time of India
'Call it Narayana Murthy hours': Karnataka govt's 12-hour work proposal revives Infosys co-founder's 70-hour dream, sparks memefest
Remember Infosys founder NR Narayana Murthy's comment over the suggestion for a 70-hour workweek for employees? Well, yes, that stirred a major debate online then. However, the 70-hour workweek reaction seems to be turning true after the Karnataka government proposed to increase daily working time from nine to 10 hours in the state. Along with this, the proposal will also allow up to 12 hours of work a day by amending the Karnataka Shops and Commercial Establishments Act, 1961. Soon, the news dropped on the internet; it quickly sparked a wave of online reactions, with many referencing Infosys co-founder Narayana Murthy, who earlier sparked a debate by advocating a 70-hour workweek for Indian youth. However, the Karnataka State IT/ITes Employees Union (KITU) on Wednesday opposed the proposal and called upon 'the entire working class to come in resistance". Karnataka government's proposal for new working hours sparks debate According to the Karnataka government, they are planning to amend the Karnataka Shops and Commercial Establishments Act, 1961, along with the 1963 Rules, to increase the daily working hours from 9 to 10 hours and permit 12 hours of overtime in a single day. Additionally, the proposed changes would expand the current three-month overtime limit from 50 to 144 hours. The move is seen as part of a broader effort to "ease business operations" in the IT and service sectors. However, the proposal has drawn sharp criticism, but there are people who are sharing it as meme material. 12 hours of work a day in Karnataka sparks memefest Apart from drawing flak, the proposal has sparked a meme fest on social media, and netizens can't stop comparing it to Narayana Murthy's comment. A look at the funniest memes online: One said, "Karnataka IT employees who are already working 14 hours per day" Karnataka IT employees who are already working 14 hours per day - While another wrote, "Meanwhile, IT employees of Karnataka to Murthy and L&T Chairman for giving this idea.." Karnataka Govt proposes 12 hr workdays for IT employees. Meanwhile Narayana Murthy Sir.. "This is outrageous!," one added. "Lol it is inspired from who?" Lol it is inspired from who ? One claimed that Murthy must have been on board that proposal. Along with this, the social media platforms were soon flooded with memes, GIFs and sarcastic posts, including one reading, 'Narayana Murthy side mein naach raha he (Murthy must be dancing on the sidelines)." "Narayanmurti will be happy," another commented. To stay updated on the stories that are going viral, follow Indiatimes Trending.
News18
3 hours ago
- News18
Narayana Murthy Trends After Karnataka's 12-Hour Workday Proposal, Here's Why
Last Updated: Karnataka government recently proposed 12-hour workdays for IT employees prompting an outrage among the working class. Former Infosys CEO Narayana Murthy seems to be unable to catch a break, and perhaps he doesn't mind it either. Murthy found several mentions on the social media platform 'X' once again when the topic of extending the work hours came to light. For the uninitiated, the Karnataka government recently proposed to increase the daily working hours from nine to ten in the state and allow up to 12 hours of work a day. Karnataka State IT/ ITes Employees Union (KITU) strongly opposed the idea of increasing the work hours and urged the working class to raise their voice. KITU noted that the extension of working hours would lead to a two-shift system, resulting in the unemployment of one third of the workforce. 'This amendment will allow the companies to go for a two shift system instead of the currently existing three shift system and one third of the workforce will be thrown out from their employment," KITU, in a press release, stated. KITU additionally stressed on the health impact of extended working hours on the IT employee. Narayana Murthy Arrives The buzzing news of a possible 12-hour working day for IT employees in Karnataka reminded many of Infosys co-founder NR Narayana Murthy. Karnataka Govt proposes 12 hr workdays for IT employees. Meanwhile Narayana Murthy Sir.. — Shilpa (@shilpa_cn) June 18, 2025 Murthy has, over the years, been in support of working extended hours. The businessman does not believe in the work-life balance either. At the CNBC-TV18 Global Leadership Summit last year, Murthy said, 'About 25 years ago, KV Kamath at an event was asked about his opinion on work-life balance. He said that India is a poor country with a lot of challenges. We first have to get a life, then we can worry about work-life balance." KV Kamath is the Chairman of the board of directors of Jio Financial Services. Murthy also asserted that his stance on the 70-hour workweek was unmovable. 'Prime Minister Modi probably works 100 hours a week. When his cabinet ministers are working very hard, when his bureaucrats are all working very hard, the only way we can show our appreciation for all these wonderful things that are happening is by our work." 'I am sorry. I haven't changed my view. I will take this with me to my grave. I am very proud of having worked very hard… I worked fourteen hours a day and 6.5 days a week till I retired," he added further. Social Media Reactions Reacting strongly to the news, social media users wondered if the 12-hour workday proposal came into effect, it could lead to adverse effects on individuals and impact their wellbeing. 'If this is the direction we're heading, don't be surprised when India's brightest minds start leaving not because they want luxury, but because they want basic quality of life. 12-hour shifts + 4 hours in Bangalore traffic = 16 hours gone. What's left for rest, family, or health?" a user on 'X' responded to the news. '12 hour work + 4 hours of traffic coming and going back. Why not ask the employees to sleep in the office itself for the remaining 8 hours," wrote another user. 'Total 24 hours 12 hours in office 4 hours in traffic 6 hours sleep 2 hours, food, bath You must work like slave." Notably, the proposal hasn't been finalised yet. News18's viral page features trending stories, videos, and memes, covering quirky incidents, social media buzz from india and around the world, Also Download the News18 App to stay updated! First Published:
