Moneycontrol Selects: Top stories this evening

Most important news stories at Moneycontrol Selects (Representative Image)

Here is a collection of the most important stories this evening:

Accenture to cut 19,000 jobs amid worsening global economic outlook, trims forecasts

IT company Accenture Plc stated on March 23 that it would cut 2.5 percent of its workforce or about 19,000 jobs amid worsening global economic outlook. "Over the next 18 months, these actions are expected to result in the departure of approximately 19,000 people (or 2.5% of our current workforce), and we expect over half of these departures will consist of people in our non-billable corporate functions," the company said in the regulatory filing.

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Global Surfaces outperforms benchmarks, settles with 22% gains on debut

Global Surfaces delivered an impressive showing on its debut at the bourses on March 23, as the share price closed with a massive 22 percent rally, outshining equity benchmarks and broader markets. The Nifty50 and Nifty Midcap 100 indices closed with four-tenth of a percent losses today.

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Tata Group may inject another $2 billion into super app Tata Neu

The Tata Group is contemplating injecting another $2 billion of fresh capital into its super app -- Tata Neu -- through the conglomerate’s digital arm, Tata Digital, reported Bloomberg, citing people familiar with the developments. Neither Tata Group nor Tata Digital has confirmed the news. If the deal materialises, Tata Digital is likely to receive the amount over two years. The deal could help the online platform widen its digital offerings, improve technicalities and meet other enhancement requirements.

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'Do Not Exercise' discontinued: Option buyers' right now becomes an obligation, say experts

The National Stock Exchange has discontinued the 'do not exercise' facility available for stock options on expiry date. 'Do Not Exercise' facility, that was re-introduced in 2022, allowed a trader to instruct the broker if he/she does not wish to exercise the right to give or receive deliveries. Now that the facility has been removed, this shall result in compulsory physical delivery of shares if an option contract becomes-in-the-money (ITM), and that contract has not been squared off on expiry day.

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ONDC expands into mobility space, takes on Ola, Uber with Namma Yatri onboard

The Open Network for Digital Commerce (ONDC) on March 23 onboarded Namma Yatri onto its platform as part of its open mobility initiative. This marks ONDC's entry into the mobility sector, where it will compete with players such as Ola and Uber. This move comes after ONDC's expansion into food, grocery, e-commerce, and other segments.

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Jack Dorsey’s Block falls after Hindenburg says it’s short the stock

Shares of Block Inc. slumped after Hindenburg Research said it’s betting on a decline in the stock, saying the payments company led by Jack Dorsey has misled investors. Block declined 20% to $58.35 at 8:53 a.m. in New York in US premarket trading. Block didn’t immediately reply to an email request for comment from Bloomberg News before regular business hours.

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