So far, VCs used to fund start-ups which either had product prototypes ready or had some customers on board.
Nitish Mittersain, founder of Nazara Technologies, is among the few entrepreneurs who have remained unflappable in the current economic crisis. Having set up Nazara, a mobile entertainment company, right at the time of the dotcom bust, Mittersain claims to have sufficient experience to withstand this financial downturn too.
Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan. The government has shortlisted Vedanta group's Sesa Goa, Essar Minerals, Ispat Industries, JSW Steel and Rashtriya Ispat Nigam for a bid for the 1.8 billion tonne Hajigak iron ore deposit.
Aditya Birla group flagship firm Hindalco Industries has decided to trim its overseas operations and is restructuring its capital expenditure in India in an effort to stabilise operations. As part of this overall plan, Novelis, which Hindalco acquired for $6 billion in 2007, is closing its sheet mill at Rogerstone in the UK, involving 440 job losses.
Easy usage, no-maintenance claim draw consumers to these desktop alternatives.
These four youngsters turned their passion for books into a successful online book lending service, discovers Shivani Shinde.
Partly an answer to downturn, political pressure; trend should shift again, say analysts.
The Anil Dhirubhai Ambani group company hasn't yet got the contract for executing the second phase of the Mumbai Metro, but Jalan's team has already started negotiating with domestic banks to tie up funds for the estimated Rs 11,000-crore (Rs 110-billion) project.
The Bombay high court, while pronouncing the verdict on the gas dispute on Monday, advised the Ambani brothers for the second time to settle their row in consultation with their mother.
Though it is smaller than the $11 billion BPO exports market, it is expected to reach $6 billion by 2012, according to a new Ernst and Young study. The domestic BPO market, hence, presents a huge untapped growth opportunity. Its addressable market opportunity is in the range of $16-19 billion by 2012, with significant business growth coming in from sectors like BFSI (banking, financial services and insurance), telecom, media, retail and government.
Some employees have alleged that close to 20 employees of the troubled Satyam Computer Services have been promoted to the I-1 and I-2 bands (representing assistant vice-president and vice-president levels) and also received a salary hike of 20-40 per cent. The timing has caused much resentment with some employees taking up the matter with the human resources department.
India's second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
Not only have they been thriving for over 10 years in India alone, but also have stood their ground in the face of newer and smarter technologies like radio-frequency identification, which promised to revolutionise the retailing sector.
IIT Bombay, for instance, recently joined hands with Intellectual Ventures to seek support in marketing and licensing patents the institute holds.
While a number of players invested more in Indian companies, another set exited the market, making profits after March. The companies that invested included Saif Partners, which made a $24 million investment in Network18, and Times Private Treaties, which acquired 12 per cent in Jiny & Jony (for an undisclosed sum), according to data with analysts and brokerage firms.
The Tata group is strengthening the management super-structure within its group companies by extending the post of vice-chairman to three more companies - Tata Motors, Tata Steel and Tata Consultancy Services.
Sunil Mittal's plan to merge his Bharti Airtel - India's biggest mobile-phone operator -with South Africa's MTN, coupled with the company's 3G foray, is likely to put pressure on its balance sheet, as the estimated cash requirement would be Rs 40,475 crore (Rs 404.75 billion) in this fiscal.
Sony is hopeful of growing the fledgling Rs 410 crore console gaming industry in India with games that will be developed in India and will be essentially based on Indian storylines. The journey has begun with the launch of the first India developed game for the PS2 platform, Hanuman: Boy Warrior, which is based on the hit Indian animation film Hanuman.
In an earlier interview, chief operating officer N Chandrasekaran had voiced this concern and said TCS was taking some measures. The impact was also evident on the overall revenue contribution, which fell to 4.7 per cent in FY09 from 5.2 per cent in FY08. TCS' head for Apac, Girija Pandey, feels the region will continue to be volatile till they reach a certain level.
New Delhi-headquartered IT services provider HCL Technologies plans to cancel hedging contracts worth $600 million (around Rs 2,970 crore), as the rupee continues to remain at Rs 49-50 levels. These hedges, analysts opine, would be taken at a rate of around Rs 41.
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