TECH MAHINDRA FOUNDATION
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.
How GenAI is opening up new revenue streams for IT firms and GCCs
The rise of generative AI (GenAI) presents an opportunity for IT firms to unlock new revenue streams. Companies like Accenture, Infosys, and Tech Mahindra, alongside global capabilities centers (GCCs), are seeing a surge in data standardisation work. This is driven by the vast amount of "uncleaned/unstructured" data held by their clients and parent companies.
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.
Growth gems well positioned; large businesses to drive significant growth: Anish Shah, Mahindra Group
EV made a lot of sense because the expertise that we can get globally will help our businesses and which is why we were open to getting partners and they have added a lot of value in terms of what they bring and in other businesses, in growth gems in particular, we can look for global partners where we can get their insights and their guidance to be able to grow the business faster.
Vineet Nayyar, ex-Tech Mahindra Vice Chairman, passes away at 85
Vineet Nayyar (Google Trends): Tech Mahindra's former Executive Vice Chairman passed away at the age of 85. He was a visionary leader and visionary who served as the Vice-chairman and MD of the Infrastructure Leasing & Financial Services (IL&FS) from 2018 to 2020. He has worked for the Indian government, international multilateral agencies, and the corporate sector over four decades.
Wanted: Policies that support womens’ advancement in the workplace
In India, women face significant barriers in the workplace, from the burden of unpaid care work to the gender pay gap. Despite anti-harassment policies like the POSH Act, compliance remains a challenge, contributing to the "leaky pipeline" where women exit the workforce.
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Byju’s empties offices; Made-in-India AI models
Cash-strapped edtech firm Byju’s is vacating multiple offices and tuition centres countrywide as part of a cost-cutting drive. This and more in today’s ETtech Top 5.
Tech companies are bridging gender gap in a more sustainable fashion
Closing the gender gap in India's tech sector requires collaboration across sectors. Efforts from employers, educational institutions, and the government are crucial. Promoting gender diversity, providing support systems, and addressing issues like the gender pay gap and lack of opportunities are key steps towards achieving equality.
M&M Group’s Anish Shah on internal reorganization and Budget takeaways
Amarjyoti Barua, a strong finance leader with international experience, joins Mahindra Group as CFO. He will continue the capital allocation strategies implemented by outgoing CFO Manoj Bhat and drive exponential growth. Bhat has been made CEO of Mahindra Holidays which Mahindra Group aims to make a key player in the tourism industry and grow its resorts at least 3X. The budget presented by the government focuses on long-term economic growth. The private sector is expected to step up its capex as the government reduces its commitment.
Tech Mahindra Q3 Results: Cons PAT slumps 61% YoY to Rs 510 crore; revenue drops 5%
Tech Mahindra Q3: Consolidated revenue from operations declined nearly 5% YoY to Rs 13,101 crore but was higher than the estimated Rs 12,790 crore. Sequentially, the bottomline and the topline rose 3.2% and 1.8%, respectively. In CC terms, the revenue rose 1.1% sequentially but dropped by 5.4% YoY.
IT gives bears a bull hug!
Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks? The answer lies in FY25, on which everyone is pinning their hopes, decode Beena Parmar and Romita Majumdar.
IT gives bears a bull hug: what is driving the rally in tech stocks?
Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks? The answer lies in FY25, on which everyone is pinning their hopes.
23 going on 24: Making sense of a chaotic yet colourful year for India's tech sector
From 15.4 billion downloaded games to 138.08 crore people covered by Aadhar, India's tech sector had an eventful 2023. ET takes a look at the top 23 moments from 2023.
Hindi LLM maker Sarvam AI to open platform for business
Founded by former AI4Bharat researchers Vivek Raghavan and Pratyush Kumar in July, Chennai-headquartered Sarvam is planning to release models in other Indian languages in the coming weeks.
Resurrection 2024: Crypto awaits first spot ETF and more
As with any market, crypto has its cyclicality. When interest rates went up and investors turned risk-averse, fewer capital flowed into crypto markets.
Tech Mahindra eyes Dec-Jan release of Hindi LLM under ‘Project Indus’
While talks have not yet begun, Tech Mahindra is considering partnerships for compute power, whether it is with Nvidia for GPUs (graphics processing units) or with hyperscalers. It is exploring techniques of quantisation and model compression, but also looking for partners for tensor networks, which can aid model compression.
My way or the AI way: Companies approach govt for infra amid GPU scarcity
GPUs are the highways AI requires. Companies are therefore petitioning the Centre to invest in the vital compute infrastructure so that local startups can compete and win meaningfully in the frenetic global AI race.
The King’s gambit: A chess academy goes online to find India’s next Grandmaster
From practising with peers to interactive sessions with titled players, from playing online to moving carved wood on a real board, Chessniti says it offers the most holistic chess learning experience.
Indian IT firms rally for AI safety measures; Recapping nominees of ET Startup Awards 2023
Genpact is applying an ‘output robustness test’ to ensure its AI-generated output complies with fairness and legal frameworks. Wipro has adopted a ‘privacy and equity by design’ approach and looks out for possible bias not only in preparing datasets but at further points in the AI lifecycle.
After Nadal, Infosys signs tennis world no. 1 Iga Świątek as brand ambassador
The Bengaluru-based firm will now work with Świątek’s team to build an advanced data analytics and video dashboard powered by artificial intelligence (AI) to aid her training and match strategy as a part of their multi-year collaboration.
Data Analytics Career Blueprint: Key Skills, Education, Eligibility, and Industry Landscape
Data analysts play a crucial role in various industries by analyzing and interpreting large sets of data to uncover valuable insights. With the increasing reliance on data-driven decision-making, the demand for data analysts is on the rise. Aspiring data analysts can pursue degrees in relevant subjects such as computer science or mathematics and gain practical experience in data mining. They can also obtain certifications and seek internships to enhance their skills. Data analytics is essential in sectors like IT, banking, retail, and e-commerce, offering numerous job opportunities for data analysts.
ETtech Opinion: Is India ready to walk the tech talk on the world stage?
According to the National Payments Corporation of India (NPCI), 7.7 billion transactions were carried out through UPI in July 2023, translating into more than 250 million transactions, on average, per day — remarkable for a country that used cash for 90 per cent of transactions a few years ago.
The unbooming of crypto boom and other top tech & startup stories this week
By calling out the widespread adoption of private crypto currencies as a risk to monetary stability, the RBI has indicated to the market that its stance will only get harder going forward.
Infosys growing on a solid foundation, says Nandan Nilekani; Byju’s awaits entire amount from Davidson Kempner
Indian tech services bellweather Infosys is not only growing on a “solid foundation” on the back of large deal wins, but is equally poised to harness opportunities despite global macroeconomic challenges, non-executive chairman Nandan Nilekani said at the firm’s 42nd Annual General Meeting.
IAMAI fumes over new anti-tobacco rules for OTTs; Local firms ride ‘AI outsourcing’ wave
The Internet and Mobile Association of India (IAMAI) is asking the government to renotify the latest anti-tobacco rules impacting video streaming platforms, this time after consulting the industry.
Sam Altman meant no disrespect, puts competition comments in context
This is really taken out of context! The question was about competing with us with $10 million, which I really do think is not going to work. But I still said try! However, I think it’s the wrong question, the OpenAI chief said.
New-age stock brokers’ bull run hits a bump; Elevation sells more stake in Xpressbees
For new-age stock broking firms which grew exponentially during Covid-19, the past year has been punishing. This and more in today’s Morning Dispatch.
Wipro, Tech Mahindra post subdued earnings; Oyo says it is cash flow positive
After IT bellwethers TCS, Infosys and HCLTech posted muted results in the fourth quarter of FY23 and struck a note of caution with their FY24 guidance, Wipro and Tech Mahindra, too, have followed suit, rounding off a weak earnings season for the country’s IT pack. This and more in today’s ETtech Top 5.
Enabling ‘Businesses for the Future’ to serve the ‘Consumers of the Future’: The Mahindra story
Its latest campaign #TogetherWeRise lends a modern-day voice to its 77-year-old legacy of values and Mahindra’s unwavering belief that whatever is good for the world, is good for business.
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