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Medical device maker Zimmer Biomet to hire 500 employees in 3 years for tech centre in India
Medical device giant Zimmer Biomet is set to significantly expand its Indian footprint by hiring 500 professionals over three years for its new Bengaluru technology hub. Focusing on AI, software engineering, and R&D, the company aims to drive innovation in orthopedic implants and surgical devices. This move underscores India's growing importance as a global capability center for healthcare firms.
Top Gainers & Losers on June 2: Newgen Software Tech, Concord Biotech, TCS, HFCL, NMDC among top gainers
On June 2, Indian stocks rebounded with benchmarks up over 0.5%, driven by technology shares. The Nifty 50 and Sensex closed at 23,506 and 74,692, respectively. However, India fell to seventh in global market capitalisation due to overseas selling and weak earnings growth.
India outflows ease, tech funds see early recovery signs: EPFR Global
Cameron Brandt, Director of Research at EPFR Global, says Korea’s AI and defence-led rally is reshaping emerging market allocations, while improving flows into software and services funds could signal a turning point for India.
Global IT stocks react to Nvidia rally and Salesforce’s cautious forecast
Nvidia reported strong growth, led by continued demand for AI and sharp expansion in its data centre business, indicating that investment in AI infrastructure is still rising. However, despite strong numbers, the stock reaction was muted as markets may already have priced in consistent earnings beats. Salesforce, while posting better-than-expected results, disappointed investors with weaker guidance, raising some concerns for software and SaaS companies, including Indian IT firms tracking global tech demand.