TECH SERVICES MARKET
EU vs Big Tech: the cases keep mounting
European regulators have launched a series of probes into Big Tech. In the latest move, the European Commission asked Amazon for more information on its compliance with the Digital Services Act (DSA), which requires Big Tech players to do more to tackle illegal and harmful content on their platforms.
India to be deep tech powerhouse and big part of Siemens' game plan
Siemens AG plans to increase software and digital services sales to 20%, with India being a key player in this strategy, according to CEO Roland Busch. The company has invested in expanding its software portfolio and collaborating with Microsoft on AI technology. India is a vital region for Siemens, where it aims to grow its human resources capital and manufacturing capabilities, targeting both local and global markets.
Sensex, Nifty end flat after scaling fresh highs; HDFC Bank plays spoilsport
The Nifty breadth was skewed in the favour of the bears, with 27 stocks ending in the red, while 23 ended in positive territory. Top gainers at the close included Tata Motors, HCL Technologies, ICICI Bank, Sun Pharmaceuticals, and Tata Consultancy Services (TCS).
Reduce Tech Mahindra, target price Rs 1230: Prabhudas Lilladher
Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 142899.77 Crore) operating in IT Software sector.
U-Turn: Sensex, Nifty erase gains after hitting record highs
From the Sensex pack, Infosys, HCL Tech, TCS, and Bharti Airtel opened higher, while Tata Motors, Kotak Mahindra Bank, Bajaj Finance, and ICICI Bank opened in the red.Shares of Kotak Mahindra dropped 2% after US short-seller Hindenburg said that the lender created and oversaw a fund that Hindenburg investors used to short Adani stocks.
Buy KPIT Technologies, target price Rs 2030: JM Financial
KPIT Technologies Ltd. key Products/Revenue Segments include Software Services and Software Products for the year ending 31-Mar-2023.
InsurTech firm ACKO drives into car repair and service space
ACKO, the Bengaluru-based insurtech firm, is expanding into car servicing and repair with its ACKO Drive Service Centres, targeting cars out of warranty. Initially launched in Bengaluru, plans include centres in Delhi, Mumbai, Pune, Hyderabad, Ahmedabad, and Chennai. Aiming to reach 100 centres in three years, ACKO seeks to capitalize on the growing $25 billion car service market.
Indian office market shows strong growth in H1 2024
The Indian office market showcased resilience in H1 2024 with significant office leasing and new supply growth. Occupiers' confidence, highlighted by major players like HCL Technologies and Tech Mahindra, spurred demand for quality office spaces.
Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
MFs cut weight on technology stocks by 170 bps in just 3 months. What are cues for investors?
In May, several MFs reduced tech stock weights by 0.1%-0.9%, with HSBC making the highest cut at 0.9%. HDFC MF, Mirae, and Franklin Templeton increased weights by up to 0.2%.
How will Indian IT companies perform going ahead? Sandip Agarwal answers
I think we are maybe one or two quarter away from it flowing down to even outsourcing. But because markets are forward looking, you can see a big run up even in the Indian IT services much before the actual numbers come.
Nifty hits fresh record high, Sensex soars 500 pts on gains in IT stocks; Fed outcome in focus
Indian shares kicked off Wednesday's trading session on a positive note, driven primarily by gains in IT stocks. The market anticipates the release of a crucial U.S. inflation report and the Federal Reserve's policy decision, both of which are likely to impact near-term interest rate trends.
Big tech is driving the S&P rally. The rest have to step up soon
Tech stocks face diverging performances as Nvidia leads the pack, while Apple struggles, causing a profit cool down and an emerging asymmetry among Big Tech stocks, affecting the overall earnings potential in 2024.
Investors' wealth climbs Rs 21 lakh cr in two days of stock market recovery
Thanks to the optimistic trend in equities, the market capitalisation of BSE-listed companies climbed Rs 21,05,298.11 crore to Rs 4,15,89,003.38 crore (USD 4.98 trillion) in two days.
F&O stocks to buy today: Dixon, Hudco among top 3 trading ideas for 3 June 2024
The Indian stock market is expected to start the week on a positive note, buoyed by positive global and domestic cues. On Friday, the Nifty future closed with gains, indicating a positive sentiment in the market despite some volatility. The India VIX, a measure of market volatility, saw a slight increase, causing some discomfort among investors.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed these stories.
India, the choice for global talent?
India's population peaking after developed nations makes it a late entrant into the migrant labour market. However, it offers opportunities for foreign workers in high-end manufacturing, services, and the knowledge economy, bridging the domestic skills gap and smoothing India's economic transition to an age-dependency demographic. A structured immigration policy can speed up development and climb the value chain in manufacturing and services faster.
Stock gaming apps under Sebi scanner; ETtech Done Deals
The capital markets regulator is cracking down on illicit gaming apps that offer virtual trading services and fantasy games. This and more in today’s ETtech Top 5.
Senior-level IT services hiring in 2024 focuses on new-age skills
IT services and global market conditions impact senior-level hiring with pay hikes expected. Roles in finance, consulting, and program management are in demand. Companies hiring for roles like chief AI officer, delivery head-AI, and CFOs. Skills in cloud computing, machine learning, and data engineering are sought after. Gartner forecasts $5 trillion IT spending in 2024, with India's IT spending growing.
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