Top headlines: Adani group to cut growth target, Class of '23 awaits hiring

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Hindenburg effect: Adani Group cuts revenue growth target, capex amid rout

Gautam Adani’s conglomerate has halved its revenue growth target and plans to hold off fresh capital expenditure, according to people familiar with the matter, as the Indian billionaire seeks to rebuild investor confidence in the wake of a bruising short seller attack. Read more

Going slow: Infosys, Wipro keep Class of 2023 waiting for campus hiring

Excess hiring in the previous year and continued economic uncertainties are affecting campus recruitment by top information technology (IT) services players.

Infosys and Wipro, according to sources, are yet to hit the campus trail to give offers to students who graduate in the academic year 2023. Read more

Semiconductor chip supply constraints put brakes on auto OEM ramp-up

The semiconductor chip supply-chain nightmares that had shaken up the automotive (auto) industry during the pandemic may be behind us. But with component supplies yet to fully normalise, automakers are struggling to ramp up production to full capacity.

Ajay Seth, chief financial officer of the country’s largest passenger carmaker Maruti Suzuki India (MSIL), highlighted during the company’s third-quarter (Q3) results of 2022-23 (FY23), the supply shortage of electronic components had marginally increased in comparison to the previous quarter. Read more

Data embassies may only be allowed to store non-personal information

The government likely to allow only non-personal datasets to be stored in data embassies — the physical data centres of trusted nations which enjoy diplomatic immunity from local laws — as part of an upcoming policy, sources said.

A senior government official said the Ministry of Electronics and Information Technology (MeitY) plans to draft a separate policy for data embassies, instead of including it in the Digital Personal Data Protection Bill, 2022. Read more

Turkey probes contractors as earthquake death toll breaches 33,000 mark

Turkish authorities are targeting contractors allegedly linked with buildings that collapsed in the powerful February 6 earthquakes as rescuers found more survivors in the rubble Sunday, including a pregnant woman and two children, in the disaster that killed over 33,000 people. Read more