Morning buzz: Many IT service companies defer salary hikes, Apple may launch iPhone 15 in India in mid-September, and more
Here are the top business headlines this morning to get your day started
Several IT service companies defer salary hikes
IT service companies have deferred salary hikes, with Tata Consultancy Services (TCS) being the only exception. Infosys and HCL Tech have not rolled out hikes yet. HCL Tech has said that it is skipping the increment cycle for mid-to-senior employees and has deferred hikes for junior employees by a quarter. Wipro has said it is committed to a salary increase but the announcement would be made in the October to December quarter.(Times of India)
Apple may launch iPhone 15 in India in mid-September
India, which is emerging as a manufacturing base for iPhone may also launch its latest iPhone 15 model soon after the global launch scheduled for September 12. Last time, Foxconn’s factory in Chennai started manufacturing the iPhone 14 within 10 days of the global launch. It took the phones about a month to reach the market. From December, exports of the iPhone 15 are likely to commence in US and Europe.(Economic Times)
IPL team owners eye market listing, PE funds
Owners of three Indian Premier League (IPL) teams have approached the BCCI for fundraising. King XI Punjab and Delhi Capitals are eyeing a public listing and Rajasthan Royals is eyeing private equity funds. Delhi Capitals, which also owns Pretoria Capitals and Dubai Capitals, could merge them into one company and then decide to list. Mumbai Indians and Chennai Super Kings are owned by Reliance Industries and India Cements respectively. Chennai Super Kings shares are available in the grey market.Last Updated :
September 04, 23 09:54:20 AM IST