According to a department notification, Tech Mahindra has approached the Board of Approvals under the Department of Commerce for transferring rights of three SEZs (one in Tamil Nadu and two in Andhra Pradesh) and the proposal will come up for a discussion before the BoA on August 30.
The merger process started four years ago, with the acquisition of Satyam in April 2009.
More than 7,700 senior professionals with over 15 years of experience have exited India's IT services firms -- TCS, Infosys, Wipro, HCLTech, Tech Mahindra, Cognizant, and LTIMindtree -- over the past 12 months.
rediffGURU Nayagam PP, career counsellor and the founder of EduJob360, counsels students and aspiring professionals about how they can make the right career decision.
While TCS cited evolving business needs and future readiness as reasons, industry experts say the action is a cost-cutting measure aimed at improving operating margins that have remained below the firm's aspirational range despite multiple efforts.
American chip behemoth Nvidia Corp and India's retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on "manufacturing" AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance's one-gigawatt data center in Jamnagar, Gujarat.
With the rush of growth after the pandemic slowing down, many leaders are moving to firms that may be smaller but are growing much faster and have the headroom to grow.
The Special Court on Monday has sentenced erstwhile Satyam chairman B Ramalinga Raju and his brother Rama Raju to six months imprisonment for violating provision of the Companies Act.
Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
On February 17, 2009, Satyam case was handed over to CBI.
Satyam's employees had to undergo mental trauma, job uncertainty and financial problems, after many were forced to leave.
A year ago, India's #MeToo movement witnessed women across India speak up against sexual harassment. Nikita Puri assesses what, if anything, has changed.
Prime Minister Narendra Modi had announced the policy last month.
The rally in mid- and small-cap stocks has spilled over into the IT sector as well. Second and third-tier IT stocks, which historically traded at a discount to the big five IT companies, are now trading at nearly 25 per cent premium to their large-cap peers. The smaller IT companies have a price-to-earnings (P/E) multiple of nearly 38 times against the big five's current P/E multiple of around 31x.
Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names.
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
The tribunal posted the matter for further hearing in December, when it will decide whether to admit the pleas of the Raju brothers and others against Sebi order.
Sources indicated defence and national security initiatives.
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Only 36 per cent in Japan and 44 per cent in Germany were willing to use such vehicles.
What explains Vijay Shekhar Sharma's optimism when other players have started to tread cautiously is Paytm's huge customer base: It has 120 million users and counting, says Nivedita Mookerji.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
From mass layoffs to acquisitions, here's how the Indian start-up industry kept us on our toes.
Using apps allows AdNear to optimise the number of ad impressions but the push towards stricter privacy norms could pose a challenge.
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