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Morning Buzz: Azim Premji upset with Wipro's performance, Sebi chief bats for smaller SIP amounts, and more

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

Samar Srivastava
Published: Dec 11, 2023 09:49:04 AM IST
Updated: Dec 11, 2023 10:10:04 AM IST

Morning Buzz: Azim Premji upset with Wipro's performance, Sebi chief bats for smaller SIP amounts, and more(File photo)Chairman of Wipro Limited, Azim Premji gestures during a press conference to announce the company's financial results for the fourth quarter of the year 2011-12 at Wipro's facility in Bangalore on April 25, 2012. Image: Manjunath Kiran / AFP

Azim Premji upset with Wipro’s performance

Wipro’s underperformance, both in the stock market as well as on the business front, has upset Founder Azim Premji. He has expressed his displeasure to son Rishad Premji and Chief Executive Thierry Delaporte, according to four people aware of the development. Wipro only provides quarterly guidance and has said that it expects revenue to fall 3.5 percent in the October-December quarter.

ARCs shift focus to retail loans

With a large scale clean up in corporate loans, complete lenders are increasingly looking at retail loans to be sent to ARCs (asset reconstruction companies). It is estimated that the overall share of retail loans in the books of ARCs will rise to 20 percent from the current 13 percent. There is also a huge opportunity in the MSME segment.
(Financial Express)

Coca-Cola enters alcoholic beverage segment

Coca-Cola India has launched Lemon Dou, its global alcoholic beverage, in select markets in Maharashtra and Goa. The beverage is a mix of distilled liquor similar to brandy and vodka. The preparation of these beverages is done separately in dedicated facilities which are different from the facilities used to make non-alcoholic beverages. The drink is priced at Rs230 for a 250 ml can. Globally, the product was launched in 2018.
(Economic Times)

SEBI chief bats for smaller SIP amounts

SEBI is working with mutual fund companies to make it easier to offer SIPs [systematic investment plans] for as low as Rs250 a month. While some fund houses offer SIPs for Rs100 a month the average SIP offered is Rs500 a month. SEBI Chief Madhabi Puri Buch pointed out that the Indian markets have been very resilient despite the pull out of foreign investors and this would be the appropriate time for sachetisation of mutual funds.

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