The Securities Appellate Tribunal on Wednesday directed the Securities and Exchange Board of India (Sebi) to allow PW cross-examination of former key executives of Satyam - former chairman Ramalinga Raju, former managing director Rama Raju, former chief financial officer (CFO) Vadlamani Srinivas and former vice-president (finance) G Ramakrishna.
Indian software firms are being courted by American and European companies for research and developing solutions for fourth generation telecom products designed for deployment across the world, Kiran Karnik
Apple Inc has rolled out a beta programme to enable 5G on Apple devices as the upgrade lets users try out pre-release software. This software upgrade enables 5G access on Apple devices, as and when service providers Jio, Airtel and Vodafone enable 5G network access, sources said. Apple users have to enrol for the beta programme on the website, install a profile and download the software.
'In India, the GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities.'
Movement in the equity market this week will largely be dictated by quarterly earnings of blue-chip firms HDFC Bank and Hindustan Unilever, along with the announcement of WPI inflation data and global trends, analysts said. Trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also guide the movement.
Be it the industry laggard performance or harassment allegations by overseas employees, Infosys has a tough road ahead and investors will look at Sikka to sort out the issues.
Global capability centres (GCCs) are increasingly looking to tap into revenue opportunities from the Indian market, which is already a critical talent hub. While capturing the potential of the Indian market has been in the works over the past few years, it's only of late that companies are gaining momentum. India is home to more than 1,580 GCCs, with a total market size of $46 billion and growing at a compound annual growth rate (CAGR) of 11.4 per cent, according to a Nasscom-Zinnov report.
Bankers of scam-tainted Satyam Computer on Friday declined to comment if the IT major's accounts have been frozen, citing client confidentiality. India's fourth-largest outsourcing firm plunged into a crisis after its chairman B Ramalinga Raju admitted to gross manipulations in the company's balance sheet and resigned.
The company's total income stood at Rs 5,821 crore, showing an over six per cent rise, at the end of the September quarter of the current fiscal.
The froth in the small and midcap (SMID) space is limited to a few pockets, but regulatory scrutiny could lead to sustained volatility, observe India's top-drawer wealth managers. They add that they have been advising clients to reduce their exposure to smallcaps. Anand Rathi Wealth, which manages investor wealth through mutual funds (MFs), reports that its exposure to smallcap stocks, both through MFs and directly, has decreased by nearly 7 percentage points in the past few months, now standing at 23 per cent.
In a cruel twist of fate, 22-year-old techie Swati fell victim to the twin bomb blasts on the Bangalore-Guwahati train just two months before she was to tie the nuptial knot.
Driven by growth in software and infrastructure services businesses, IT major HCL Technologies Tuesday reported an over two-fold jump in its consolidated net income at Rs 330.1 crore (3.3 billion) for the quarter ended June 30, 2009.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
A total of 12 Indian companies made it to the third annual Forbes Asia Fabulous 50 List, followed by Taiwan with 10 and China with seven, Forbes Asia said in a press release.
'With free software on the Internet and apps, creating a deepfake video can take 3 to 5 minutes. Anyone can make these videos.'
Infosys' acquisition of Switzerland-based Lodestone Holding would provide the software firm respite from investors who have, for long, demanded the company tweak its strategy of walking away from deals that might dilute earnings. Investors have also demanded the company's unutilised cash balances be used to revive growth.
The company has set up its new network platform in India entailing an investement of $30 million which would offer telecom and connectivitysolutions to over 150 customers in the country including banking, insurance and software firms, Cable & Wireless India managing director Sunanda Das said.
India's largest software services company Tata Consultancy Services (TCS) on Wednesday it has seen a surge in demand for its services and expects to recruit 10,000 individuals in the US by 2022. The Mumbai-based company has hired over 21,500 employees in the past five years in the US.
Lambent already has fully operational 25,000 square feet area in the Lambent IT Park at Harihar Nagar, Besa, in Nagpur.
While recruitment is falling, the capabilities needed to land an IT job are stiffening.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
There's a hint of new competition riding into a sector that has attracted attention for being in a duopoly-like situation. Rapido, a commute app known for its budget-friendly bike-taxi services, on Tuesday announced its entry into the cab market, which is currently dominated by marquee brands Uber and Ola. Rapido's cab foray will be enabled by a software as a service (SaaS)-based platform.
The settlement is subject to fairness review and approval by the court.
A readout of the meeting reportedly said Lord Johnson "made clear that he was keen to see a bigger Infosys presence in the UK and would be happy to do what he could to facilitate that".
The list has been made on the basis of Innovation Premium, which Forbes described as a measure of how much investors have bid up the stock price of a company above the value of its existing business based on expectations of future innovative results (new products, services and markets).
Upset over the government "not keeping its word" on improving infrastructure in Bangalore, India's tech capital, a group of top software companies have decided to boycott Karnataka's flagship IT event, "Bangalore.IT.COM 2005," to be held in October.
'While Indian markets are indeed not inexpensive, the valuations of largecap stocks are still a considerable distance from being overstretched.'
Global software firms are hiking their staff capacity in the country and plans to hire 40,000 employees over the next couple of years. Among the Indian firms disclosing their plans, Satyam Computer Services, one of the top IT firms, stated the addition of 3,000 people this year. The largest headcount expansion has been planned by US-based Computer Sciences Corp. The company has announced the addition of 16,500 headcount over the next two years.
With the market sentiments improving and enhanced focus on domestic market, IT firms have got back to the hiring spree.
According to sources, engineering major L&T had also put in its bid to acquire control of the Hyderabad-based company, while Cognizant has not put in a bid.
The country's second largest software firm Infosys on Tuesday reported a 15.72 per cent jump in consolidated net profit to Rs 1,722 crore (Rs 17.22 billion) for the first quarter ended June 30, 2011.
The Chennai-headquartered Calsoft would acquire the majority stake in $7 million turnover IDC through its fully owned US subsidiary CSWL Inc, top officials of Calsoft and IDC told a news conference in Chennai.
After disappointing guidances in the first quarter (Apr-Jun) of the 2023-24 financial year (Q1FY24) and valuation downgrades, the Indian IT sector could see some positive repricing as the bad news for IT maybe easing in Q2FY24. A key negative factor was weaker demand from the US financial sector and from North America in general. The latest GDP (gross domestic product) estimates and sector-specific news suggest that the demand situation may not be quite so bad with a gradual recovery in tech spending in Q2.
In a major top-level management restructuring, India's second largest software firm Infosys on Saturday named veteran banker K V Kamath as the new chairman to succeed founder N R Narayana Murthy, who retires in August.
Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification, including their credentials/financials.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
