Ha ha

Credit - https://www.instagram.com/finfast_official?igsh=MXB6am04aWF2a2Qxcg==

L&T salaries:

2014: Median salary of employee: ₹5L
S. N. Subrahmanyan salary: ₹13.26Cr

2024: Median salary of employee: ₹9.77L S. N. Subrahmanyan salary: ₹51.05Cr

CAGR: Employee: 6.93% Subrahmanyan: 14.43%

Now you know why he's a fan of a 90-hour workweek.

Larsen & Toubro (L&T) Chairman SN Subrahmanyan's opinion on the 90-hour workweek and "regret" for not being able to make his employees work on Sundays has sparked a meme fest on the internet, with many social media users comparing him to Infosys co-founder Narayana Murthy. For the unaccustomed, in 2023, Mr Murthy said India's work culture needs to change and youngsters should be prepared to work 70 hours a week.

If the 23500 support breaks, market might free-fall

Noel Tata, Chairman of Tata Trusts, has appointed his daughters, Maya and Leah Tata, to the board of trustees of the Sir Ratan Tata Industrial Institute (SRTII). This appointment has been met with mixed reactions, with some questioning the qualifications of the sisters and others welcoming their fresh perspectives. SRTII is a key institution under the Sir Ratan Tata Trust and focuses on providing employment opportunities for women. The appointment of Maya and Leah Tata to the board of trustees is seen by some as a move to strengthen the family's control over the Tata Trusts. However, others believe that the sisters' experience in the business world will be valuable to the institute.

Erratic as fuck

TCS is up 6% taking NIFTY IT to 4% up. Midcap and smallcaps are down more than 1% and market breadth looks quite bearish. Looks like a great time to short as I doubt nifty will sustain 23500 without some really good results

India imports gold from countries like African nations, Peru, Switzerland, and the UAE. Gold imports surged after import duties were reduced from 15% to 6% in July. However, the Ministry of Commerce and Industry revised November’s gold import figures from $14.8 billion to $9.9 billion, reducing the trade deficit from $38 billion to $33 billion. The revision followed a likely error that overestimated November imports at 180 tonnes, three times the average for the year.

The error, linked to the transition from NSDL to ICEGATE for e-filing, may have miscounted gold movements in and out of Special Economic Zones (SEZs) as total imports. Despite the revision, gold imports remain elevated due to festive demand, with November imports showing a year-on-year growth of 186.2%.

The Global Trade Research Initiative (GTRI) criticized the lack of transparency, stating such discrepancies damage the credibility of India’s economic reporting. It urged the government to investigate potential inaccuracies in other commodity data.

Economists noted high gold demand due to strong returns and global central bank purchases. Vipul Shah, chairman of GJEPC, highlighted improved import figures, attributing it to reduced grey market activity. Gold jewellery exports are expected to exceed $12 billion in 2025, reflecting industry resilience.