TMS Ep550: Tech recruitment, third largest economy, oil stocks, OBCs

Tech giants like Infosys and Wipro have given campus hiring a miss. Reports citing college placement officers and experts claim that there may be a 65% drop in recruitment of freshers this fiscal. Those on the rolls are not breathing easy either, as the season of lay-offs is far from over. And global headwinds too are refusing to budge. So in today’s first segment, Kasthuri Akhil tries to find out when will the tech workers breathe easy? 

But this tech sector has made India the world’s favourite back office. It is fueling its growth as India is set to become the world’s third largest economy. A recent projection by S&P Global Market Intelligence has predicted that India will overtake Germany and Japan by 2030. But how much will the common man benefit from it? Will it translate into improved formal employment opportunities, better healthcare, and an enhanced standard of living? 

But right now, geopolitical uncertainty is keeping everyone on their toes -- whether it’s the tech industry or the financial markets. It is also keeping crude oil on a boil for a while now amid a cut in supply by Saudi Arabia and Russia. At the bourses, stocks of oil exploration companies such as ONGC and Oil India have done well in this backdrop. So, is it time to load up on stocks of oil exploration companies and exit OMCs? 

It’s not just the geopolitics, but the domestic politics too is simmering. After Bihar’s caste survey, politicians in Maharashtra too have demanded a similar exercise in the state. Clearly everyone is eyeing OBC votes. But who are OBCs? Listen to this episode of the podcast for answer.