ASAP GROUP
BigBasket, 1mg’s plans for capex; win for epharmacies in Madras HC
Tata’s online grocery BigBasket and epharmacy 1mg will largely depend on debt capital to fuel expansion this fiscal. More on this in today’s ETtech Morning Dispatch.
IT firms chasing acquisitions to enhance their topline and skills
Indian information technology (IT) services are banking on acquisitions to fuel growth amid a dire need for investments in new capabilities, especially GenAI, as a slowdown in global demand keeps away opportunities for organic expansion.
Zepto’s mega financing; shareholder battle at Kenko Health
Happy Wednesday! Zepto is holding talks with investment fund DST Global and venture capital firm Lightspeed for funding. Details on this and more in today's ETtech Morning Dispatch.
Europe emerges as hotspot for Indian IT M&As, tops buy chart
Indian IT giants are on a European shopping spree, snapping up companies at a rapid clip. Europe's booming tech sector, outpacing North America, has fueled over a dozen acquisitions since the Covid pandemic.
Infosys to acquire engineering R&D services provider in-tech for $480 million
Infosys said in a statement that this investment will help strengthen Infosys’ engineering R&D capabilities and will help global clients to navigate their digital engineering journey.
HCL Tech shares surge over 3% ahead of Q3 results this week. What brokerages expect
We expect HCL's Q3FY24 revenue to grow in the mid-single digits QoQ driven by the Verizon deal ramp-up, the additional contribution from the ASAP Group acquisition for two months, and the seasonality benefits in the Products and Platform (P&P) business.
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US Air Force said its nuclear missile capsules safe; but toxic dangers lurked, documents show
Air Force nuclear missile crews faced toxic risks in capsules since the '60s. Documents reveal hazards ignored by leadership. Current cancer cases prompt Air Force review and extensive testing. Concerns arise over past exposures to asbestos, PCBs, and other dangers. Capsules under scrutiny despite initial dismissals. Missileers seek transparency and medical vigilance while concerns about risks linger. Plans for base modernization consider health standards, but past exposures remain a concern for affected service members.
Indian IT takes a bigger bite out of Europe as US business growth slows
The quarterly results for the top three companies - Tata Consultancy Services (TCS), Infosys and HCLTech announced last week show that a larger percentage of their current growth is coming from the European region.
Rihanna becomes mom for the second time! ‘Diamonds’ singer welcomes baby boy with partner ASAP Rocky
The pop sensation revealed her pregnancy to the world during an energetic performance at the Super Bowl in February.
Amazon Ads eating into Google, Meta’s digital marketing pie
Digital advertisers in India shifting up to 20% of their budget from duopoly to ecommerce major; experts see trend continuing
Anand Mahindra has a Japanese solution to water conservation - toilets with hand wash sink
Indian billionaire Anand Mahindra has taken to Twitter to promote a Japanese toilet design that has a sink attached to it, conserving water by reusing it to flush. Mahindra said the method should become "standard in India."
Why HCLTech is confident about meeting guidance despite 1% decline in Q1 revenue
“I do not think we will grow without adding any headcount. There will be some addition of headcount to support the growth because the ask rate for the next three quarters are quite high. So, there will be headcount addition,” says HCLTech CEO &B MD C Vijayakumar.
HCLTech acquires German automotive engineering services provider ASAP for €251 million
ASAP is focussed on future-oriented automotive technologies in areas such as autonomous driving, e-mobility, and connectivity.
View: India is staring at a crisis of jobs that needs tackling ASAP
Here, we are hamstrung by the fact that we have not had a nationwide census since 2011 - a shame for a country that has never missed a decennial census starting from 1881. Bereft of census 2021 (or 2023), I have used data from the United Nations' World Population Prospects 2022. There are some minor differences between these and the census data. What do the facts say? The chart (see graph) gives the numbers:
Go First: Fasten seat belts' sign has been on for a long while
Go First Airlines has filed a voluntary insolvency petition with India's National Company Law Tribunal (NCLT), in addition to a request for an interim moratorium on supplier payments. However, lawyers claimed that Indian airline lessors are expected to formally ask the aviation regulator to deregister Go First’s planes, and take them back due to being default on ₹3,802 crore to aircraft lessors and vendors.
#Heartattack trends on Twitter as several young people die due to complications
A heart attack is a serious condition that develops when the blood supply to the heart is unexpectedly interrupted, usually by a blood clot.
Elon Musk threatens 'thermonuclear name & shame' of advertisers who back out from Twitter
Elon Musk, who recently bought Twitter in a $44 billion deal, blamed "activist groups pressuring advertisers" for a "massive drop in revenue" as the company engages in mass layoffs.
Unacademy monthly burn down to $7 million from $20 million: CEO Gaurav Munjal
Taking to Twitter on Friday (November 4), Munjal said, "Winter will get worse. Get to profitability asap. And then grow from there. Stop all unnecessary spends. Focus on building great Products and organic Traction Channels."
Waning immunity & re-infections: 5 reasons why young people should get Covid booster dose ASAP
Given immunity to the initial course of vaccines wanes over time, booster doses are important.
Unacademy won't sack more workers to cut costs, CEO Gaurav Munjal clarifies
In April, Unacademy fired around 1,000 employees to cut costs Of these, about 300 were educators who worked with Unacademy on a contractual basis while the rest were in sales, business and other functions.
‘My wife & I are still in queue.’ Anand Mahindra’s reply to badminton star Chirag Shetty’s cheeky request for early XUV700 delivery
Shetty had a very cheeky reply for Mahindra's congratulatory tweet.
Market Movers: NBFCs see strong demand; Adani group stocks suffer for second day
The saga of active or not active FPI shareholders of Adani Group entered its second act today as it turned out that while Adani Group had learned from its share transfer agent that the three FPI shareholders’ accounts were ‘active’, the NSDL informed the group that they were 'suspended in debit'.
Dubai aims to inoculate 70% of population with Pfizer vaccine in 2021
The financial hub of the United Arab Emirates began the first phase of the vaccination campaign last week, targeting "priority groups", including those 60 and older, people with chronic medical conditions, those with disabilities and frontline workers.
Vertical ecom majors like Pepperfry, Nykaa feel the squeeze post Covid-19 outbreak
Firms say it may take a full year, at the minimum, for things to go back to normal
SoftBank CEO faces tougher questions in US after market plunge
The Vision Fund is recovering from a series of stumbles. WeWork’s plan to go public last year imploded, forcing SoftBank to arrange a rescue financing of $9.5 billion in October. Uber, despite a recent surge, is trading about 24% below last year’s offering price
Financial sector stress could lead to a domino effect on other sectors: Deven Choksey
“Long-term effect of HDFC AMC taking Essel group exposure on its books is positive.”
Update your WhatsApp ASAP: Newly-discovered spyware can infect a phone just by a WhatsApp call
The spyware was developed by the Israeli cyber intelligence company NSO Group, according to a news report.
Agencies get proof linking Vijay Mallya with Deepak Talwar
Talwar, who’s been detained in a corruption case, had “lobbied” for Mallya and the two were “very close”.
US says would like to have Taliban on negotiating table ASAP
Donald Trump in August laid out his South Asia policy vowing to keep American troops on Afghan soil so that a hasty recall does not create a void.
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