HCL FOUNDER
![Carlyle, CVC & Hillhouse in the fray for GeBBS](https://img.etimg.com/thumb/msid-111468058,width-100,height-75,resizemode-4/industry/banking/finance/carlyle-cvc-hillhouse-in-the-fray-for-gebbs.jpg)
Carlyle, CVC & Hillhouse in the fray for GeBBS
Global private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified.
![Leadership and long-term mega trends: Utpal Sheth on identifying 'Gorilla' companies](https://img.etimg.com/thumb/msid-110627830,width-100,height-75,resizemode-4/markets/expert-view/leadership-and-long-term-trends-utpal-sheth-on-identifying-gorilla-companies.jpg)
Leadership and long-term mega trends: Utpal Sheth on identifying 'Gorilla' companies
We have already established that value creation is different from wealth creation. So, in my experience, there are three large components that create terminal value about which the terminal value investor should have differentiated insight on and those three components are intangibles, megatrends and leadership.
![India’s five big IT firms see net exit of 25,000 women in FY24](https://img.etimg.com/thumb/msid-110570669,width-100,height-75,resizemode-4/jobs/mid-career/indias-five-big-it-firms-see-net-exit-of-25000-women-in-fy24.jpg)
India’s five big IT firms see net exit of 25,000 women in FY24
The data analysis by staffing firm Xpheno revealed that five of India's top IT services companies - Infosys, TCS, Wipro, LTI Mindtree, and HCL Tech - have seen a collective net exit of 25,000 women in the year ending March. Despite an increase in the total number of women employed by these firms from 374,000 in March 2020 to 540,000 in March 2023, the diversity ratio has only seen a marginal growth of 0.9 percentage points during this period.
![Inflation-wary Fed may put IT revival on hold](https://img.etimg.com/thumb/msid-109957952,width-100,height-75,resizemode-4/tech/information-tech/inflation-wary-fed-may-put-it-revival-on-hold.jpg)
Inflation-wary Fed may put IT revival on hold
Indian outsourcing leaders face delayed business revival until FY26 due to US Federal Reserve's high interest rates. The impact on revenue growth and IT firms' strategies could persist, affecting deals and revenue projections in the sector.
![ESG mutual funds: Why these MFs may not be the right choice for investors](https://img.etimg.com/thumb/msid-109452190,width-100,height-75,resizemode-4/wealth/invest/esg-mutual-funds-why-these-mfs-may-not-be-the-right-choice-for-investors.jpg)
ESG mutual funds: Why these MFs may not be the right choice for investors
Having failed to beat even simpler fund categories, ESG funds may not be the right choice for investors.
![Sensex jumped 3 times from 25,000 to 75,000 in 10 years of PM Modi’s rule](https://img.etimg.com/thumb/msid-109186701,width-100,height-75,resizemode-4/markets/stocks/news/sensex-jumped-3-times-from-25000-to-75000-in-10-years-of-pm-modis-rule.jpg)
Sensex jumped 3 times from 25,000 to 75,000 in 10 years of PM Modi’s rule
The market capitalisation of all BSE-listed stocks on that day 10 years ago was just Rs 81 lakh crore and has now jumped multi-fold to an all-time peak of Rs 400 lakh crore, making India the fifth largest stock market in the world.
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IT stocks tumbling on Accenture guidance cut: Time to accumulate, says Sandip Agarwal
Sandip Agarwal says for Accenture, the challenge is on the discretionary side or on the consulting side, where we have small presence for some of the names like TCS and Infosys but for them, it is not a big chunk like it is for Accenture. He advises investing in undervalued stocks like HPL, Tech M, and Wipro for long-term gains despite depressed earnings.
Pine Labs, Zepto, Meesho press the home button; decoding UPI’s market share cap
Happy Wednesday! A wave of Indian technology startups, including Pine Labs and Zepto, are actively working on plans to shift their domiciles to India. This and more in today’s ETtech Morning Dispatch.
IT’s 2030 staff doubling target looks distant on slump, GenAI
India's IT sector may miss its target of doubling its workforce to 10 million by 2030 due to a slump in demand for tech services and the threat of AI-induced job losses. The industry currently employs 5.4 million workers, but this could only reach 7.5 million by 2030.
IIT-K partners with HCL Group entity to launch regional language tech, biz courses
IITK Foundation for Advanced Consulting, Education and Training (IFACET) partnered with GUVI to launch technology and business courses in regional languages, catering to diverse needs of dynamic job market. Mentor-led courses blend theoretical knowledge and practical application, breaking down linguistic barriers. Professional certificate courses in business intelligence, digital marketing, full stack development, data science, and data engineering are offered.
Despite policy change, why are IT companies still unable to follow the work-from-office diktat?
Several IT services companies are allowing employees to work remotely instead of strictly enforcing the mandate to work from the office for a minimum of 2-3 days a week. While firms like Infosys, HCL, and Cognizant have implemented the policy, managers are prioritizing deliverables and upskilling. TCS, on the other hand, is taking a strict approach and deducting salaries of employees unwilling to come to the office.
Decision on import management system for laptops, tablets to be given post-September after evaluating data: Official
The government will evaluate import data in September to decide on the existing import management system for IT hardware products. The system, implemented in October last year, requires importers to seek authorization from the government to monitor shipments of laptops and tablets. The current authorizations will be valid until September 2024, and further steps will be based on import data.
With small, inexpensive LED driver chips, India makes strides in semiconductor manufacturing
With Rajasthan-based Sahasra Semiconductors designing and packaging its LED driver ICs, can the market open up for a more flourishing ecosystem to develop in the country?
Billionaires List: With $9.6 billion bounty, India's richest woman beats all big boys in 2023
With her net worth measured at $25.3 billion at last count, the 73-year-old widow of Om Prakash Jindal is the 5th richest Indian and the richest woman from the sub-continent.
ED flags failure to submit papers, delays by Byju’s; HCL eyes Karnataka for chip facility
Byju’s founder and chief executive Byju Raveendran could be in trouble after the Enforcement Directorate (ED) said he appears to be “guilty” of alleged forex violations amounting to Rs 9,362 crore by the embattled edtech’s parent.
ChrysCapital acquires 75% stake in ProHance, enters SaaS segment
Following the acquisition, ProHance aims to build on its success and plans to strategically expand into important markets such as the Philippines, Australia and South America.
Chart Check: Breakout from a rounding bottom formation makes this largecap IT stock a preferred buy; could hit fresh record highs
Short-term targets can look to buy the stock now for a possible target towards 1400-1600 levels in the next 3-6 months, suggest experts.
How Microsoft goes around seeking unfettered ownership of artificial general intelligence
Microsoft, which already has a considerable ownership stake in OpenAI owing to its billion-dollar investment in the company, now aims to take full control of the momentum around artificial general intelligence (AGI).
Wipro likely to skip pay hikes for top performers in key business line
The move comes at a time when India's No.4 software services exporter is dealing with a plethora of problems ranging from weak client spending to tough competition from larger rivals.
Giving away Rs 5.6 cr a day, Shiv Nadar top donor in 2023 philanthropy rankings; total contributions surge 56%
Shiv Nadar, founder of HCL Tech, remains India's top philanthropist, donating Rs 2,042 crore in 2023. Azim Premji of Wipro follows with Rs 1,774 crore. Indian philanthropy surges, with 119 donors contributing Rs 8,445 crore, showing a 60% increase from last year. Education, art, culture, heritage, and healthcare were the preferred causes.
Hiring outlook for Indian IT industry weakens on global macro woes, slow discretionary spends
The Indian IT industry is expected to reduce campus intake this year due to weak global cues and a cut in discretionary spending by clients. Infosys and HCL Tech's subdued hiring signals a tough road ahead for freshers. IT giants like TCS, Infosys, and HCL Technologies reported a decline in employee tally in Q2. Global growth concerns, inflation, interest rates, reduced investment, and geopolitical shocks have exacerbated worries.
India Inc, eateries, pubs ready pitch for blockbuster 'India vs Pakistan' World Cup match
Restaurants, pubs, and food delivery and quick commerce platforms expect record business with sales rising 25-35% over a usual weekend day while television brands are struggling to install TVs before the start of India vs Pakistan World Cup match after a spike in sales in the last one week, several industry executives said.
FPIs pumped Rs 7,000 crore in IT stocks in Q2. Time to follow smart money?
After remaining net sellers from April to June, FIIs have poured in Rs 7,101 crore from July till September 15, at a time when management commentary and guidance from IT majors painted a stark picture for the sector, show NSDL data.
Digital will enable cross-border collaboration on tech innovation and R&D: Roshni Nadar Malhotra
Speaking at a B20 panel on technology, innovation and R&D, she said, “One of the issues with global technology and skilling is that innovation is very specific to countries,” adding that the challenge is taking solutions to scale.
WEF launches initiative to unlock $3 trillion a year for climate and nature
The global initiative to fund and grow new and existing public, private and philanthropic partnerships (PPPPs) is supported by more than 45 partners, including HCL Technologies through its chairperson Roshni Nadar Malhotra. With the energy and cost of living crises, the ambition of steering the planet towards a 1.5-degree Celsius warming pathway hangs in the balance, the WEF said.
India set to be a major iPhone maker; journey should be the destination for founders, investors
India is set for an iPhone manufacturing windfall thanks to Apple’s ongoing troubles in China, industry executives and analysts told us. India, which currently produces about 5% of all iPhones, is expected to account for 20% of total iPhone production in the next three to four years, they said.
HCL’s Shiv Nadar is India's most generous person: EdelGive Hurun India
Wipro's Azim Premji came in second with an annual donation of Rs 484 crore. Premji is the only living Indian to feature in the EdelGive Hurun Philanthropists of the Century list.
Shiv Nadar wins USISPF 2022 lifetime achievement award
The HCL founder won the award for his philanthropic innitiatives
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