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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

Samar Srivastava
Published: Sep 4, 2023 09:49:47 AM IST
Updated: Sep 4, 2023 09:54:20 AM IST

Morning buzz: Many IT service companies defer salary hikes, Apple may launch iPhone 15 in India in mid-September, and moreIT service companies have deferred salary hikes, with TCS being the only exception. Image: Shutterstock

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.
(Mint)

World Cup Tickets for India matches sell out in minutes

Bookings for India matches that opened on August 30 have been sold out on BookMyShow. The bookings opened in batches and tickets for the semi final and final will be sold starting September 15. The demand is mainly for the India matches, with tickets for warm-up games as well as games for say, New Zealand versus Australia or England versus Bangladesh, available at prices ranging from Rs200 to Rs1,000 per person.
(Financial Times)

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