TMS Ep373: IT layoff, millets market, IT stocks, debt refinancing

At a time when global tech giants like Google, Microsoft and Meta are on a firing spree, Indian IT major TCS has said that it will not hand out pink slips to its workers. Rather, it has announced to hire from the talented pool -- which has been laid off by Indian start-ups and US tech companies. So why is TCS bucking the trend? 

TCS has certainly set the bar high. Its decisions have provided plenty of food for thought to other companies. Speaking of food, ancient Ayurveda believed that cure of most ailments can be found in our kitchens. And a healthy diet keeps all the ailments at the bay. But are we eating healthy? Do we get all our essential nutrients from staple grains like wheat and rice? Or do we need the forgotten superfoods like millets which have been making a comeback off late? And what are the challenges that these coarse grains are facing to become a viable alternative to wheat and rice? 

Let us turn our focus back to the issue of hiring in IT firms. The IT index has been an outperformer so far in calendar year 2023 even as IT companies have been treading cautiously on hiring fresh talent. So, what is driving the stock performance and should you buy any given the overall macro set up? 

An equity research report by Jefferies recently said that Adani group’s consolidated net debt is at ₹2 trillion and it has relatively “low refinancing needs” in the near term. The report comes after some banks showed reluctance in refinancing the debts of the apple-to-airport group. But what exactly is debt refinancing? And how is it different from debt restructuring? We decode it for you in this episode of the podcast.