As Wal-Mart's disclosures on lobbying generated political heat in India, records with American House of Representatives show that around 27 Indian companies have spent money on lobbying in the US.
Chinese telecom gear giant Huawei Technologies has sought permission for access to the government's 'Trusted Telecom Portal' which went live on June 15 so that it can share details about the telecom products which telecom service providers have agreed to buy from it. The move is significant as sources close to the development say that, according to Chinese telecom companies' interpretation, the new National Security Directive on the telecom sector does not in any way prohibit them from participating in the process of selling telecom equipment of any kind to private telcos. The firm is waiting for a response from the government. It declined to comment.
As per the agreement, Mastek's wholly-owned US subsidiary MajescoMastek would buy 90 per cent equity stake in Vector for $4.5 million payable at closing.
The attempted hostile takeover bid of Mindtree by Larsen & Toubro is a "grave threat" and "value destructive" to the organisation collectively built over 20 years, the promoters said pledging to "unconditionally oppose" the hostile takeover attempt.
Earlier this year, Tata Consultancy Services, the country's largest software exporter, launched iOn, a cloud computing service for SMBs.
China should be an economic partner and not a rival. China is the most suitable location to setup center to back-up operations in India because with India, China has the largest talent pool in the world.
World's No. 1 venture capitalist Promod Haque of Norwest Venture Partners is in talks with five software product companies in India for funding.
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
People familiar with the proceedings said independent cybersecurity experts from a private consulting firm, technology lawyers, government officials and WhatsApp representatives were asked questions about the Pegasus spyware and the larger issues surrounding surveillance, hacking and remedial measures.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Representatives of several bodies visited the office of NSO to assess the allegations raised in regards to the company on Wednesday, a spokesperson for Israel's Ministry of Defence said.
The survey covered 1,210 IT executives and technology professionals from North America, the United Kingdom, Australia, New Zealand, Singapore and India. In India, 202 respondents from businesses with more than 500 employees across 18 industry verticals completed the survey. Overall, 89 per cent of the respondents said implementing a work-from-home policy had increased security challenges for their organisations. The risk posed by shadow IT was especially high, with 89 per cent of companies having no control over the software that employees purchase and install on their devices.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
Nasdaq listed Sanmia-SCI Corporation is to set up a software development laboratory and a global IT support centre in Chennai with an investment of over $4 million in phase one, according to a top executive of the company.
India's software industry mounts two-pronged campaign to tackle Trump administration. Ayan Pramanik & Karan Choudhury report.
Reliance is leveraging the technological change of building a virtualised 5G network which would see the current hardware-dependent networks shift to software-centric platforms.
This is Core's second acquisition in Atlanta.
Browbeaten by recession and anxiety about mounting protectionism in key markets have led Indian information technology (IT) companies to extend their reach in the countries of Africa, the West Asia and Asia Pacific.
The board of i-flex Solutions, which met on Monday, approved a proposal to acquire US-based Mantas Inc in an all-cash deal for $122.6 million.
Seven companies, including lifestyle retail brand FabIndia and specialty chemical company Aether Industries, have received capital markets regulator Sebi's go-ahead to raise funds through initial share sales. Syrma SGS Technology, Asianet Satellite Communications, Sanathan Textiles, Capillary Technologies India and Harsha Engineers International too received the watchdog's nod to float Initial Public Offerings (IPOs). These companies, which filed their preliminary IPO papers with Sebi during December 2021 and February 2022, obtained observations during April 27-30, an update with the regulator showed on Monday.
During the afternoon trade, ONGC commanded a market value of over Rs 2.48 lakh crore -- the highest for any listed company in India.
A strong performance by sectors including banking raised the profits of Indian companies by 28 per cent in the three months ended March 2022. The rate of growth is, however, lower than the 30 per cent seen in December. Growth in net sales was also lower than what was seen in the December quarter for the sample under consideration.
With the terror attacks targeting even the IT companies of the country, the sector on Thursday beefed up security in campuses in other major cities even as several of them downed shutters in the financial capital.The TCS House, main office of India's top software exporter, located close to Chhatarpati Shivaji Terminal and one of the targets of the terrorist attacks, remained closed.
With days to go before the new tax regime around crypto assets kicks in, several investors are reportedly either booking profits, rejigging their portfolios or moving their crypto assets to their private wallets outside of India. Starting April, gains from trading in crypto and other virtual assets like non-fungible tokens (NFTs) will be taxed at a flat 30 per cent, as announced in the Union Budget. And, 1 per cent of tax will be deducted at source (TDS) on every transaction involving crypto and other virtual assets. The new tax regime also bars investors from offsetting losses from one crypto asset (such as Bitcoin) against gains from another (say, Ethereum).
While 7,500 of the 7,880 candidates allegedly tampered with the results in the exchange for money to show themselves "eligible" in the results of the final exam, 293 candidates secured forged/fake certificates projecting themselves as eligible candidates after the final results.
Software major Infosys on Thursday said it would spend A$ 800,000 over four years in Australia's Smart Internet Technology Cooperative Research Centre (Smart Internet) for conducting research and development in emerging technology areas.
Flush with cash and stung by the rising value of the rupee against the US currency, Indian information technology companies are venturing into diverse geographies -- from Brazil to Ecuador.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
Tata group companies have outperformed the broader market over the past four years, under the chairmanship of N Chandrasekaran. However, the group's fortunes rely heavily on the performance of Tata Consultancy Services (TCS) now, as compared to the past. The combined market capitalisation of the group's listed companies has nearly doubled in the last four years, against a 77 per cent rally in the benchmark Sensex during the period. The overall market value of 16 key group firms - excluding listed subsidiaries of such entities - stood at Rs 16.8 trillion as of Friday. This was close to 2x the Rs 8.45 trillion as of February 21, 2017 - the day Chandrasekaran took charge as chairman of Tata Sons.
India's second-largest software services firm expects its topline to grow 7.5 - 9.5 per cent in FY2019-20 in constant currency terms.
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
Larsen & Toubro, now one of Satyam's largest single shareholders with 4 per cent, sees a lot of synergy between the core strengths of the beleaguered software giant with those of L&T Infotech, its unlisted information technology subsidiary.
The 24th annual survey saw the Top 20 IT companies -- from both IT services export and domestic IT sector -- post a mixed performance, with the 8 fastest growing companies recording double digit growth.
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