High net worth individuals in their mid-40s were the majority of customers opting to purchase the British luxury automobile maker Rolls-Royce's range of cars in India, a company official said. Rolls-Royce Motor Cars on Tuesday launched its latest all-electric - Spectre - priced at a whopping Rs 10 crore (ex-showroom), in Chennai. A 'Chartreuse' (greenish-yellow) colour variant of the Spectre rolled out of the podium at an event marking the formal launch of the brand in the South Indian market showcased for aspiring customers and dealers.
Kolkata excels in business performance with employee headcount and number of engineering students doubling in the last five years.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
The company has entered into a strategic partnership with Scootsy, a hyper-local delivery platform
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
Bengaluru-headquartered IT services major Wipro Limited on Thursday announced that it has signed an agreement to acquire Capco, a global management and technology consultancy to the banking and financial services industry, for USD 1.45 billion.
Global professional services organisation Ernst & Young Services on Thursday said it will hire about 9,000 new workforce in India in 2021, in various technology roles across all member firms. These hires will be from the STEM (science, technology, engineering, and mathematics) background and in areas including artificial intelligence, machine learning, cyber security, analytics and other emerging technologies, EY said in a statement.
Edtech unicorn Vedantu has laid off 424 employees, about 7 per cent of its workforce, according to a blog post shared by the Bengaluru-based firm. This comes as the focus in the edtech space has shifted to profitability, according to experts. The lay-off comes days after the company fired 200 contractual and full-time employees, at a time when offline schools and colleges are opening up and learning is evolving into a more nuanced blended delivery model with a mix of online and offline.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
When it comes to electric cars, the electric dream is turning out to be a six-letter word starting with f, ending with y, and having antas in between, notes Suveen Sinha.
Satyam Computer Services, a leading global IT services company, on Wednesday signed an estimated $200 million (around Rs 900 crore) five-year contract with California-based Applied Materials
Globally, the viability of on-demand businesses is being questioned
'India is the sixth-largest market for the Kia Corporation, and contributes 8 to 9 per cent to our global sales.' 'We are eyeing 10 per cent market share over the next few years depending on customer demand and new product innovations.'
Tucked away at a lane in Arehalli Guddadahalli, a small village in Bengaluru Rural district is a nondescript factory of LaundryMate, one of India's first organised technology-led online laundry services firms. The company has built the country's largest laundry facility, which is spread across 53,000 square feet - the size of a football field. Inside the hangar-like building, one can hear the whooshing and humming sound of big hi-tech washing machines being operated by the newly-recruited staff of LaundryMate.
Under the new model, the IT services firm will replace the current structure of its various strategic business units, service lines and geographies with four strategic market units and two global business lines.
Auto major Fiat Chrysler Automobiles (FCA) on Wednesday said it will invest $150 million (around Rs 1,103 crore) to set up a global digital hub in Hyderabad to help the group develop new technologies to cater to its automotive operations across the globe. The facility, which is FCA's largest digital hub outside of North America, would create nearly 1,000 jobs by the end of next year.
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
Quick commerce startups hope to race towards better days. Can they crack the execution code?
iGate Global Solutions, the integrated technology and operations company with a global services delivery model, would make its Chennai operation a 'centre of excellence,' chief executive officer Phaneesh Murthy said.
Edtech unicorn Vedantu has laid off 385 employees, nearly 11.6 per cent of the company workforce, according to sources. This move is being seen as part of a drive in the edtech sector towards profitability via cost-savings and consolidation, as funds dry up, they said. The Bengaluru-based firm has laid off over 1,100 employees (both full-time and contractual), so far, this year.
There has not been a single invention from India in the last 60 years that became a household name globally, nor any idea that led to "earth shaking" invention to "delight global citizens", IT czar N R Narayana Murthy said.
'We are at a time and position that we do not need higher number of visas.'
The remote infrastructure management outsourcing market is likely to exceed $8 billion over five years, according to a report released by the Everest Research Institute.
TCS is tapping an emerging opportunity called IT modernisation, which potentially could be a growth driver for the entire IT services industry for the next two to three years, says Raghu Krishnan.
iGATE Global Solutions, an integrated technology and operations firm with a global services delivery model, said the company would add 800-1,000 people at its development centres this year.
This revival in sentiments will be reflected in next year's IT budgets which can be expected to be better in terms of volumes and value.
Third-party BPO company Genpact on Thrusday said it has signed a multi-year contract with Germany-based technology group Linde to provide finance and accounting services, valued at over $60 million.\n\n
The GSD model has proven itself across areas such as custom software development, IT infrastructure support, call center services (and other similar business process outsourcing services), application implementations, and now PDS.
Leveraging next generation technologies like artificial intelligence, software services major Infosys is confident of returning to industry-leading growth and regaining its position as the bellwether of the over $100 billion Indian IT industry.
For the first time in his political career, he failed to carry his party to even a working majority -- and again, for the first time in his career, he finds himself in a situation where he cannot rule by dictatorial fiat, points out Prem Panicker.
Greece's financial crisis has intensified.
If electric cars with a real range of more than 400 km are launched, the anxiety regarding the charging points will come down, and more people will buy EVs.
The foundation for a Digital India will be intelligent networks.
With more and more companies preferring to hire employees on project basis, a report has revealed that there is likely to be 90-110 lakh additions to the gig workforce by 2025, a report said on Wednesday. The gig economy has been one of the most pivotal economic shifts in a long time and people are choosing gig jobs because it works with their lifestyle, they can choose when and how much they work, or it allows them to earn money between jobs, global job site Indeed said in the report. According to the report, companies have also started investing in gig work platforms and processes, which indicates how integral they are to the future of jobs growth in India.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
Lamborghini is focusing on bringing its new car models to India faster after the global launch of its Huracn Tecnica, its country head Sharad Agarwal said on Thursday, adding there is a lot more scope for the company to expand in tier I and II cities. "Typically, in the premium and luxury car segments, there is a lag of six to 18 months between a global launch and India launch," he said in an interview to Business Standard. The Italian carmaker launched the two-seater track-focused performance car - the Huracn Tecnica - here on Thursday four months after its global unveiling.
