Morning buzz: Discounts on cars rise in festive season, MakeMyTrip ad draws social media ire, and more

Here are the top business headlines this morning, to get your day started

  • Published:
  • 16/10/2023 10:02 AM

A rise in inventories in the run up to the festive season has resulted in an increase in discounts. Image: Shutterstock

Discounts on cars rise in the festive season

A rise in inventories in the run up to the festive season has resulted in an increase in discounts. The deals on offer range between Rs20,000 to Rs200,000 and include cash discounts, exchange bonuses and corporate discounts. In addition, dealers are offering deals on accessories. The discounts are being offered even on SUVs and CNG models, both of which are seen as high demand models.

(Financial Express)

IT Firms go slow on salary hikes due to slow demand

Salary hikes at IT firms have taken a back seat on account of slow demand from clients. Accenture has said it will not be hiking salaries of employees in India and Sri Lanka. Infosys will provide hikes from November 1. In the past, the company had rolled out hikes to junior employees on April 1 and those above in July. Wipro will implement annual merit pay increases from December 1.

(Business Standard)

Chaudhry set to return as CEO of Aakash

Aakash Chaudhry is set to return as CEO of Aakash about a month after Abhisek Maheshwari put in his papers. The deal is part of a broader arrangement that includes a stock-swap deal with Byju’s. Chaudhry is likely to end up with eight percent of Think and Learn, the parent of Byju’s and retain nine percent in Aakash.

(Economic Times)

MakeMyTrip ad draws social media ire

An advertisement by online travel firm MakeMyTrip giving Pakistani travellers discounts based on how many runs their team lost by has drawn criticism on social media. Users dubbed it insensitive. While MakeMyTrip hasn’t commented on the matter, several well known cricket commentators dubbed it sad. The advertisement was made by Enormous Brands.

(Mint)