Infosys Ltd on Thursday reported a 4.7 per cent rise in the September quarter net profit and raised revenue guidance after broadbased growth. Net profit of Rs 6,506 crore in July-September was up 4.7 per cent when compared to Rs 6,212 crore earnings in the same period last year. It was 2.2 per cent higher quarter-on-year, according to a company statement.
Dabur's performance in the July-September quarter of the current financial year (Q2FY25) was weak but in line with consensus. Consolidated revenue declined 5 per cent year-on-year (Y-o-Y) due to a temporary adjustment in General Trade (GT) inventory. Indian revenue declined 7.6 per cent, while international business grew 13 per cent Y-o-Y in constant currency (CC) terms.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
India is expected to overtake the US as the largest developer community on GitHub by 2027, Microsoft chairman and chief executive officer Satya Nadella said during his address to 1,100 developers and technology leaders at the Microsoft AI Tour in Bengaluru on Thursday. India is the fastest-growing market on GitHub, a Microsoft-owned software development platform, with 13.2 million developers using it.
The Karnataka government on Wednesday put the reservation bill for Kannadigas in private firms on hold amid fierce criticism from business leaders and tech tycoons.
The solutions developed by the company cover a broad spectrum, including helping recruiter's gauge the behavioural profiles of candidates during virtual job interviews and assisting in real-time translation in vernacular languages, among others.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
Google CEO Sundar Pichai says Gemini will eventually be integrated into Google's search engine, its ad products, the Chrome browser.
Google has announced a slew of new features including new privacy settings, AI tools and release of the first beta of Android 12 that will become part of its products over the course of the year. Kicking off Google I/O 2021 in a virtual format from the Mountain View campus, Google CEO Sundar Pichai also announced additions to Google Workspace that will enable richer collaboration, especially in view of the pandemic that has driven enterprises across the globe to embrace remote working solutions. Pichai said that COVID-19 has deeply affected every community over the past year, and "places like Brazil, and my home country of India, are now going through their most difficult moments yet".
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
Without our realisation, basic AI is already managing our personal and work lives through emails, work processes and even entertainment
Indian IT services major Infosys on Thursday announced that it will expand collaboration with tech giant Microsoft to drive enterprise cloud transformation globally. According to a statement, the extended strategic collaboration between Infosys and Microsoft is expected to benefit enterprises by bringing them the best of Infosys Cobalt cloud offerings and Microsoft's cloud computing technologies, led by Azure, across the business value-chain.
Nikhil Anand, senior vice president, operations, at NLB Services explains why professionals who are adept at data, cloud computing and cybersecurity will earn well in 2024.
The Adani group plans to bid for setting up duty-free shops at the Macau international airport, as India's largest airport operator spreads its wings overseas. In a stock exchange filing, Adani Enterprises, the flagship firm of the conglomerate run by billionaire Gautam Adani, said it has completed the incorporation of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau on November 20. The subsidiary has been incorporated for the purpose of getting into the duty-free industry.
The domestic technology industry's revenue is projected to grow 3.8 per cent to $254 billion this fiscal, industry body Nasscom said on Friday and highlighted creation of 60,000 more jobs during this period. The industry had clocked a revenue of $244.6 billion in the same period last year, according to Nasscom's annual strategic review report. Excluding hardware, the revenue is expected to touch $199 billion, a growth of 3.3 per cent over FY23, as per the report.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
Amphibious drones for maritime inspection... devices that extract pure oxygen from water for patients in need... self-balancing electric bikes...
Reliance Industries Ltd on Monday announced an agreement to invest alongside Brookfield Infrastructure and Digital Realty in special purpose vehicles developing data centres in India. Reliance will hold a 33.33 per cent stake in each of the five Indian special purpose vehicles and become an equal partner, the company said in a statement. Digital Realty Trust, Inc is the largest provider of cloud and carrier-neutral data centre, colocation and interconnection solutions globally with 300+ data centres across 27 countries.
IT major Infosys Ltd on Thursday reported a 7 per cent rise in first quarter net profit and raised its growth outlook for the current financial year. The consolidated net profit of Infosys increased to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore in the same period a year back, according to a stock exchange filing by the company.
IBM started using Watson last year in India in two of its key divisions, services and infrastructure, for the bulk of its 150,000 employees as part of its "predictive retention" programme.
Indian fintechs and associated entities are hoping that the Union Budget 2024 will provide a boost and empower firms to extend their reach beyond Tier-II regions, with an emphasis on supporting enterprises led by women. The fintech industry, which has witnessed regulatory reforms over the last year, expects the Budget, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, will further encourage financial inclusion, empower micro-small-medium enterprises (MSMEs) with lending solutions, and push for upskilling initiatives for the country's young workforce.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
Zee Entertainment on Friday said it has "pruned" its Technology and Innovation Centre (TIC) by about 50 per cent following the guidance of a special committee, which had conducted a critical assessment of its several business verticals. The MD & CEO has pruned TIC staff strength by 50 per cent to achieve a cost-effective structure, a Bengaluru-based business vertical of the company that offers technology solutions, Zee Entertainment Enterprises Ltd (ZEEL) said in an official statement.
Internet giant Google is investing $10 billion in India's digitisation fund, its CEO Sundar Pichai has told Prime Minister Narendra Modi, a step that will recognise India's leadership on fintech and will support small and large businesses in India, the US and around the world. Pichai met Prime Minister Modi in Washington on Friday and also announced the opening of Google's global fintech operation centre in the Gujarat International Finance Tec-City (GIFT) in Gandhinagar. "It was an honour to meet Prime Minister Modi during the historic visit to the US. We shared with the Prime Minister that Google is investing $10 billion in India's digitisation fund," Pichai said.
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
The three-day India Mobile Congress (IMC) will showcase the widening convergence of telecom with new domains, such as semiconductors and deep tech, P Ramakrishna, the forum's chief executive officer, said on Tuesday. With more than 250 global and domestic exhibitors, the seventh edition is expected to draw more than 100,000 visitors this year, he said. There will also be over 5,000 CXO-level delegates and more than 350 speakers.
Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
Siva Prasad Nanduri, chief business officer, TeamLease Digital, outlines the skills that will help you get a job in 2023.
Two sectors, fintech and media & entertainment, attracted 45 per cent of total funding by value, led by large ticket deals such as CRED and Dailyhunt.
'We have not seen too many large deals compared to last quarter.'
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Industry leaders are predicting hybrid cloud to be the next biggest trend in cloud computing.
Reliance Industries Ltd will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail network and setting up renewable energy capacity in Uttar Pradesh in the next four years, its chairman Mukesh Ambani said on Friday. Ambani also announced foray of the oil-to-telecom conglomerate into bio-energy business, converting agriculture waste into gas which can be used as fuel in industries, run automobiles or light kitchen stoves. Speaking at the Uttar Pradesh Global Investors Summit 2023 here, Ambani said his group will set up 10 GigaWatts of renewable energy capacity and roll out 5G services across the state in the next 10 months.
Skylark Drones, a leading drone platform company that counts Tata Steel, Ultratech Cement, Softbank Energy among its customers has secured $3 million in a pre-series A funding round. It would use the funding to strengthen its product offerings and fuel international expansion.
Air India has long ceased to be a commercial entity: it is of the government, exists for the government and is run by the government.
Tata Consultancy Services (TCS) is set to secure a $2 billion deal from Bharat Sanchar Nigam (BSNL) to roll out its 4G and 5G services across the country. However, the final approvals from the publicly-owned telco may take a couple of months, sources in the know said. As part of the deal, TCS will develop 4G core and Radio Access Network (RAN) technology for BSNL's telecom services.
