'It will dictate the flow of funds into the index. We will maintain caution on mid/smallcaps.'
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
The development comes close on the heels of Uber planning to invest substantial part of $3.5 bn Saudi money in India.
Reliance Industries' (RIL's) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein's latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company's telecom arm, at $77 billion and the renewable energy business at $17 billion.
SoftBank-backed internet commerce firm Meesho has downsized its grocery vertical Meesho SuperStore (formerly Farmiso) in an attempt to drive efficiency. The Bengaluru-based firm did not reveal the number of laid-off employees. However, the company officials said that about 150 employees have been laid off.
Google said safety, affordability and expanded use cases for the next wave of users will be the pillars to get the next 700 million users online.
The company is targeting 100 million subscribers in shortest possible time, RIL Chairman Mukesh Ambani said
The size of the Indian financial services market could touch around $340 billion in the next few years.
Microsoft started discussing the deal in February, Satya Nadella said, adding that the acquisition is about the next phase of growth for the company.
Google announced a new Wi-Fi platform called Google Station, a video app called 'YouTube Go' and an offline feature for Chrome web browser and faster loading in Google Play on 2G network
Apart from the Google team led by AI scientist Manish Gupta, the company will also partner with the research community across the country to focus on tackling challenges in fields like healthcare, agriculture, and education.
The research firm expects global smartphone shipments to surpass a billion units this calendar year and 1.7 billion by 2017 aided by steady decline in average selling prices and emerging markets, including Asia Pacific, Latin America, and Middle East and Africa contributing in volumes.
'Two in three creators in India who earn money from YouTube agree that YouTube is their primary source of revenue.'
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
The home secretary is scheduled to brief the panel on home affairs on the situation in Jammu and Kashmir in the next meeting.
India isn't just a testbed for SHAREit to find and perfect a new business model, but also the start of the company's globalisation dreams.
Tesla CEO Elon Musk on Tuesday said that he will proceed with his USD 44 billion take over of Twitter only if the microblogging giant is able to prove that less than 5 per cent of its users are bots. "20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. My offer was based on Twitter's SEC filings being accurate. "Yesterday, Twitter's CEO publicly refused to show proof. This deal cannot move forward until he does," Musk tweeted.
Walmart-owned digital payments app Phonepe on Thursday said it has raised $350 million at a valuation of $12 billion in a funding round led by private equity firm General Atlantic. "Marquee Global and Indian investors are also participating in the round," PhonePe said in a statement adding the investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023. The fundraise follows PhonePe's recently announced change of domicile to India and full separation from Flipkart.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
The company has set an internal target of 6-18 months to set up the data centre. The plan is part of the $1 billion ByteDance has recently committed to the Indian market over the next three years.
Paytm, which recently hived off its e-commerce and payments bank businesses into separate companies, would use these fresh funds to bolster the two businesses
The price of bitcoin, the bestselling cryptocurrency, has shrunk nearly three times this year to mark the fate of such digital assets. Crashing prices, regulatory uncertainty and taxes have put Indian crypto exchanges in troubled waters. Finance Minister Nirmala Sitharaman's budget for FY23 announced a 30 per cent tax on any income from the transfer of virtual digital assets.
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
Facebook expects to boost capital expenditure by as much as 80 per cent this year as the social networking giant expands infrastructure and support for initiatives to bring the next 5 billion people online.
Pichai will visit India accompanied by the heads of various Google business units
What does Neal Mohan, anointed the next CEO of YouTube, have in common with Sir Cliff Richard? They are alumni of St Francis' College. Mohan, who will take over the reins of the social media platform, is arguably the second most high-profile personality after the British music icon to be associated with the all-boys institution ensconced in the heart of Lucknow.
Investors are increasingly turning optimistic about shares of new-age companies. From broad-based 'sell' calls, analysts are giving thumbs up to Zomato, Paytm, and FSN e-Commerce Ventures-owned Nykaa as these companies have shifted focus to sustainable profits. The shares of Zomato hit a fresh 52-week high of Rs 126 apiece on the BSE on November 7, having rallied 15.4 per cent in one week.
PhonePe via Bharat Bill Payment System (BBPS) plans to get into a number of new verticals, including fee payments in schools and colleges, payments at hospitals and other services
In 2024 so far, 20 startups have already visited the campus with 80 placements.
India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
Sandberg is also expected to meet developers at the company's headquarters in Hyderabad.
With India rolling out 5G services, can telcos get the sizeable 350-400 million 2G customers to upgrade to 4G, or even better -- but very improbably -- straight to 5G?
Musk also said that there will be a vote for major policy changes on Twitter.
US media reports that Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, could be the latest technology giant to downsize its workforce have triggered trepidation among its 300-400 employees in India, according to people familiar with the matter. "We have not heard much about the impact (of downsizing) on India. "It's a wait-and-watch situation. Certainly, there is uncertainty," said a source.
The California-based firm reported a healthy growth of 5 per cent in its monthly active users in India to 82 million as of June 30, 2013 from 78 million in June 30, 2012.
The government will come out with proposed modalities and terms of references for setting up grievance appellate committees to address social media users' complaints in the next 10-12 days, and expects the panel to be in place by November 30, Union Minister Rajeev Chandrasekhar said on Tuesday.
Out of all the reported digital payment frauds in India, over half (55 per cent) were United Payments Interface (UPI)-related, a new report released on Tuesday revealed. Another 18 per cent are card related, 12 per cent are related to internet banking and nine per cent are from phishing calls. Most of the UPI-related frauds, however, have a low ticket size.
'I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software and servers teams,' he tweeted Tuesday.
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