The market capitalisation of seven of India’s top 10 most valued firms surged by Rs 1,72,225.62 crore last week, driven by Tata Consultancy Services (TCS) amid a rally in equities.
The BSE benchmark rose 522.74 points, or 0.65%, during the week. The 30-share BSE Sensex climbed 622 points, or 0.78%, closing at a record 80,519.34 on Friday. It peaked at 80,893.51, up 996.17 points or 1.24%, during trading.
TCS saw its market capitalisation jump by Rs 62,393.92 crore to Rs 15,14,133.45 crore after reporting an 8.7% increase in net profit to Rs 12,040 crore for the June quarter.
As chief executive of San Diego-based genomic sequencing company Illumina, Francis deSouza feels well-placed to witness the world’s next great scientific transformation.
“I really believe that just like the 20th century was the era of the bit and the digital revolution, the 21st century is likely to be remembered as the era of the genome,” he says. “We’re seeing that play out in terms of genomic-based screening and diagnostics emerging, like Illumina’s offerings, but we’re also seeing the emergence of genomic-based medicine.”
DeSouza’s excitement is understandable. Well over a billion doses of mRNA vaccines—developed in record-time with the help of gene sequencing—have been safely deployed around the world to …
The Florida troika of cronies Governor Ron DeSantis, activist Nelson Peltz, and former Marvel chairman Ike Perlmutter have met their match in Disney’s CEO Bob Iger. In a shot heard around the nation, Iger last week labeled Florida’s ambitious GOP governor “anti-business and anti-Florida” after outmaneuvering the state amid a dispute that began after Disney took a stand against the state’s so-called Don’t Say Gay legislation a year ago, prompting DeSantis to retaliate. Iger’s latest move mirrored the blistering response of Florida-based cruise line CEOs to DeSantis two years ago when he threatened them for requiring standard vaccine passports for their crews and passengers—at the request of those passengers and crews.
Iger’s wor…