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⭐TCS won’t layoff employees
The management of the IT giant has said that it won’t be laying off employees, according to reports. This comes at a time when global tech companies are cutting jobs amid fears of a slowdown. The management reportedly indicated that it would be announcing hikes, which would be similar to last year.
⭐ Sun Pharma buys minority stakes
The pharma company has said that it will acquire minority stakes in Agatsa Software (an early-stage digital diagnostic devices company) and Remidio Innovative Solutions (provides innovative products enabling early detection of eye diseases). The two acquisitions will be for around ₹180 crore.
⭐ FIIs make a comeback
Foreign institutional investors (FII) bought shares worth around ₹7,600 crore on a net basis last week. This comes after the net FII outflow of ₹3,920 crore between 7 and 12 February. Experts attributed this to India’s stable economy, strong macro conditions, and the possibility of higher economic growth.
Global markets (at 9:15 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.33% |
| Nikkei 225 (Japan) | 0.00% |
| Hang Seng (Hong Kong) | ▲ 0.80% |
| SSE Composite (China) | ▲ 0.98% |
| Dow Jones (US) (February 17) | ▲ 0.39% |
| NYSE (US) (February 17) | ▲ 0.09% |
| Nasdaq (US) (February 17) | ▼ 0.58% |
| S&P 500 (US) (February 17) | ▼ 0.28% |
Fact of the day
In 1986, tech giant Apple forayed into the apparel space, launching a clothing line called "The Apple Collection".