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ET Daily Rundown (ET Online)

Markets achieve new high, Cognizant busy with ‘spring cleaning’

01:32 Min | October 31, 2019, 5:37 PM IST
Market set a new record with Sensex crossing its all-time high during trade today. Yes Bank stocks shot up in the wake of their announcement of a binding investment. Meanwhile Cognizant is laying off some 7000 employees.
And they’ve done it
The market set a new record
Sensex crossed its all-time high during trade today
Nifty didn’t set new records but its still went past 11,900

Hello, I’m Deepshikha Rahi
And I’m Rahul Aripaka. Welcome to ET’s Daily Rundown

On the market front, Yes Bank stocks shot up today
An outcome nobody was expecting
Considering the bank saw some bad days on D-Street
The rise is heartening for investors
And comes in the wake of their announcement of a binding investment

Of course, the investor remains a mystery
With the bank only announcing a mammoth $1.2 billion amount
From a global investor
More details to follow, hopefully.

There’s great news for investors in the Bajaj group
The auto company's stocks saw a 34% rise this year
Major dividends for shareholders, then
Of course

Moving on, some bad news
Cognizant is laying off some 7000 employees
‘Spring cleaning’, as their CEO Brian Humphries once said

The IT giant is streamlining its business
And getting out of the content moderation business

Of course, that is a double edged sword

With their main client, Facebook, coming under fire for the way they handled content moderators

But, either way, they are focussing their business totally on the fintech side now

For more news, views and cues, log on to econnomictimes.com

Script: Rahul Aripaka
Hosts: Deepshikha Rahi, Rahul Aripaka
Producer: Deepshikha Rahi
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