SHIV NADAR HCLTECH
Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding
Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.
IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar
Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.
Q3 results: HCLTech bucks trend, Wipro's woes continue
HCLTech, India's third-largest software exporter, outperformed expectations with a 6.2% rise in net profit and a 6.5% increase in revenues in Q3. Meanwhile, Wipro reported a steep 12% fall in profits and a 4.4% dip in revenue. HCLTech's success can be attributed to the $2.1-billion Verizon deal and an increase in headcount.
Mamaearth parent Honasa’s IPO at a crossroads, and other top tech, startup stories this week
This week the much-awaited initial public offering (IPO) of omnichannel retailer Honasa Consumer Ltd, the parent of beauty and personal care brands such as Mamaearth and The Derma Co, was launched.
HCLTech founder Shiv Nadar tops Hurun Philanthropy List 2023; donates over Rs 2,000 crore in FY23
Wipro founding chairman Azim Premji (78) and family came second with a donation of Rs 1,774 crore and the third spot was retained by Reliance Industries chairman Mukesh Ambani and family with a donation of Rs 376 crore.
Fintechs wary of RBI’s new cross-border payments rules; telcos take on Big Tech over biz messaging
The Reserve Bank of India’s (RBI) new rules on cross-border payments will bring fintech players operating in this space under the regulator’s direct supervision. More details on this in today’s ETtech Morning Dispatch.
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Dunzo’s downfall: from startup star to sinking ship? and other top tech stories this week
This week was Dunzo’s worst ever since it pivoted to quick commerce with Dunzo Daily in 2021. At ETtech, we have been closely tracking the Reliance Retail and Google-backed firm. What has come to pass has been in the making for a while.
HCL Group planning $300 million semicon foray: sources
The HCL Group is close to submitting a proposal to the Centre to set up an assembly, testing, marking, and packaging (ATMP) unit for semiconductors.
Fintech sector grapples with heightened scrutiny, and other top stories this week
As things stand, it is no wonder that fintechs have been shopping around to acquire an NBFC licence. Cred acquired Parfait Finance in November 2021 and BharatPe acquired Trillionloans, a Mumbai-based NBFC, in March.
Startups call for exempting more from angel tax; CCI ordered to look into ADIF’s plaints against Google
The startup industry wants angel tax to be either scrapped or have its exemption threshold of Rs 25 crore raised. This and more in today’s ETtech Morning Dispatch
ETtech interview | We need to own more product IPs, build distribution chops: Shiv Nadar
In an interview with ET’s Romita Majumdar & Surabhi Agarwal, Shiv Nadar spoke about what the Indian technology industry must do to strengthen its product capabilities, create a sustainable culture for startups and his philanthropic vision.
ET Awards: Sunil Mittal, Mansukh Mandaviya get top honours, ICICI picked as company of the year
With the focus firmly on post Covid economic recovery, the old economy champions from metals to telecom, oil and banks dominated the nominations, having bounced back from economic collapse, bad loans and global turmoil.
ET Lifetime Achievement Award: Shiv Nadar - Just doing IT is a way of life, as is starting up a new code of giving
As per the Hurun India Philanthropy List for 2022, billionaire Nadar’s annual donations stood at Rs 1,161 crore or roughly Rs 3 crore per day. With a net worth of $28 billion, he was positioned at 46 in the Hurun global rich list and fourth among Indian peers.
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