Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
Future Group aims to increase customer spends - average of Rs 20,000 over 10 visits at its stores in a year
'Domestic will remain very much the core of what IndiGo is.' 'But the emphasis in our next growth phase is going to be on the international side.'
Salute explores narratives of police brutality and unethical practices, power-hungry politicians who will stop at nothing and the helplessness of innocent victims of crime, observes Divya Nair.
Giving a further boost to his Digital India agenda, Prime Minister Narendra Modi has emphasised on the need to use information technology to set up smart cities.
Entrepreneur and podcaster Raj Shamani identifies four most sought after job profiles.
Mukesh Ambani is stringing in new partnerships within the Reliance ecosystem with the best in global business -- from Facebook, Google and Microsoft to umpteen sovereign wealth funds and a soon-to-be-declared strategic partner in a big global retailer, notes Shailesh Dobhal.
Tech giant Microsoft will set up its largest and fourth data centre in India at Hyderabad with an investment outlay of over Rs 15,000 crore over a period of 15 years. "I am very happy to say today that Hyderabad will be the destination for Microsoft's largest Data Centre investment in India with an investment of over Rs 15,000 crore over a period of 15 years. "This will be one of the largest FDIs that Telangana has attracted," Telangana Minister for IT and Industries KT Rama Rao on Monday said at an event marking the announcement of Microsoft's latest data centre region in Hyderabad.
Even as government projects aren't lucrative from a revenue perspective, companies fight with each other to bag the contracts
Ajay Banga, one of the topmost Indian-American corporate leaders, and a strong advocate of India-US relationship, would retire from Mastercard at the end of the year, the global credit card company has said.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
This makes it the most valued fintech company in the country after Paytm and Walmart-owned PhonePe.
nternally, Wipro has been pushing for 'automation'. However, when it comes to profitability, the Bengaluru-based company has a long way to go. Wipro chief executive officer Abidali Neemuchwala says while the benefits are going mostly to clients, they would start reflecting in the company's bottom line.
The actor picked an ivory white lehenga for the cover shoot.
Amazon's single largest building is also the single largest building in Hyderabad city. Spread over 9.5 acres, this multi-storied building comprises of 290 conference rooms, casual and collaborative work spaces that will house 15,000 employees, along with private areas, interfaith prayer rooms, mothers room, quiet rooms, showers, unisex rest rooms and a huge cafeteria besides a helipad on the building roof.
According to its DRHP filed in 2010, the company's net worth was just Rs 140 crore. Its total income for the financial year 2009-10 stood at Rs 119 crore and it had a net profit of Rs 16 crore. In sharp contrast, at the end of March 2021, Paytm's networth was Rs 6,535 crore and total income stood at Rs 3,187 crore.
We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India's farmers, youngsters and entrepreneurs, the PM said.
Be brave to fail, learn, and lead, advises Abhilash R, founder and CEO, Bloombloom Dreambiz (P) Ltd and B-HUB Lifespaces.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
And it feels entirely different when compared to all its earlier avatars, observes Pavan Lall.
'There will be partnerships between banks and fintech firms, but there will also be areas where they will be direct competitors.'
'Digital India is the biggest experiment that will transform India if Modi gets it right.'
"...Chief Executive Officer and Managing Director Abidali Z Neemuchwala has decided to step down due to family commitments," the BSE filing said. The board of directors has also initiated a search to identify the next chief executive officer, it added.
'This is a race where every technology can be used by the bad guys and good guys.'
'There are a lot of really unhappy people out there.'
FutureBrand, which is a global brand transformation company, said part of Reliance's success could be attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for Indians.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
'The industry growth in 2016< came from the new digital technology segment which grew at over 20%.' 'The challenge for the industry is that the legacy business makes up almost 80% of revenue.' 'Hence the urgency to transform into digital business.'
TCS, Infosys and others are banking on automation to protect their turf in the US, but building a successful revenue model around it may prove difficult
'One of the major challenges to the protection of rule of law and human rights is the inability of the formal justice system to deliver speedy and affordable justice to all'
Mandarin Oriental New York, the premium luxury hotel a subsidiary of Reliance Industries is acquiring, is known for its much-in-demand ballroom, five-star spa and eating and drinking venues, including MO Lounge. Liam Neeson and Lucy Liu are among regular guests. Set up in 2003, 248-rooms-and-suites hotel towering over Central Park is an iconic luxury hotel located at 80 Columbus Circle, directly adjacent to the pristine Central Park and Columbus Circle.
TCS was recognised as a leader in all the categories, namely overall, efficiency, consulting, transformation and digital focus
Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals -- oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
The masses of digital data that you generate throughout your life -- your pictures, posts, tweets, blogs -- can remain intact in the folds of the Internet, points out Shuma Raha.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Ambani said, it will be ready for trials as soon as 5G spectrum is available and can be ready for field deployment next year.
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
'We have filed our draft red herring prospectus for a floating IPO for a net offer size of 86.6 million shares.'
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