Best of the Week | Wipro, Markets, Elections and Climate Change
brought us the details of what went down between Wipro’s chairman and its former French chief executive over a phone call. In this backdrop, Mark to Market analyst Harsha Jethmalani dissects the various issues facing the company and what the new CEO will need to do. We also have two pieces by our new correspondent Shelley Singh – an explainer on why expat CEOs don’t last the distance in Indian IT companies, and a deep dive into whether Srinivas Pallia has what it takes to steer Wipro forward.
Shelley looks into Pallia’s background and the corporate culture that he’s steeped in – he’s only ever worked at Wipro. We also provided a house view of the developments at Wipro in this Mint editorial, where we argue that the CEO switch had to do with business performance, rather than how the market seems to have reacted (or not) to this change. This week’s coverage and analysis brought home the idea that the markets could be close to their peak.
We began the week with the news that the Indian stock market valuation crossed INR 400 trillion for the first time, with the last INR 100 trillion having been added in just 9 months. Dipti Sharma and A Ksheerasagar spoke to experts to decode why this happened and what it means for the Indian economy. Another piece of analysis by Mayur Bhalerao on public markets investing revealed that retail investors have really piled into public issues by small and medium enterprises (SMEs), which has led to them to raise INR 5961 Cr in FY24.
This is despite the regulator cautioning against stock manipulation in SME IPOs. Mint’s Dipti Sharma also wrote about how the capital goods sector (S&P BSE Capital Goods Index) has performed with a return of 77% over the past year. While many of the stocks are at
. Read more on livemint.com
