IT ENABLED SERVICES
Brokers' MTF hits record Rs 73,600 crore amid market highs, surging retail participation
Sebi's MTF framework mandates collateralising existing shares. Kotak Securities cautions investors on MTF investments amidst surging margin funding in anticipation of Modi 3.0 budget.
BLS International joins hands with Poland embassy for visa outsourcing services in Philippines
BLS International has signed a contract with the Embassy of Poland in the Philippines to provide visa outsourcing services, marking a significant step in streamlining the visa application process for travellers to Poland from the Philippines. The agreement includes managing both Schengen and National visa applications, which can be submitted at two visa centres in Manila and Cebu.
Tech-enabled construction startup Wify raises funding from Mount Judi Ventures, Capria Ventures
The Mumbai-based on-site installation and post purchase services provider said it will use the funds to penetrate deeper into existing categories. Wify will also The Mumbai-based on-site installation and post purchase services provider said it will use the funds to penetrate deeper into existing categories, company said in a statement.
Sagility India files draft papers; seeks Sebi's nod to float IPO
The company, in its draft papers filed on Friday, said that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.
IT stocks: A comeback which just needs a bit more confirmation; 7 stocks with an upside potential of up to 23%
Just before the expiry of the June series contract, bulls were seen in a segment of the market which has been long ignored by them — IT stocks. Because the upward movement was taking place at the end of expiry, one could not rule out the element of short covering. If one looks a bit deeper in the trend in IT stocks, two things have become clear. That while the news and opinion has been negative, the price action has not been so bad as has been painted. Now let's look at what happened in the IT sector and why there could be a case for contrarian buying. Yes, the sector has some headwinds which not many had thought would appear two years back. But the bigger question is whether this phase of underperformance is about to get over or not. It might be time to shed the bias of negativity around large IT players.
L&T hit by 'severe' skilled manpower shortage: 45,000 engineers & techies needed
Larsen & Toubro (L&T) faces a severe shortage of skilled labor, with a deficit of 25,000 workers in engineering and construction, and 20,000 in IT and IT services, per its Chairman S N Subrahmanyan. This shortfall, due to various factors including high attrition and migration, is affecting project execution.
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Hitachi Payment Services receives RBI nod for payment aggregator
Hitachi Payment Services has received RBI's final authorization to operate as an Online Payment Aggregator under the Payments and Settlement Systems Act, 2007. This authorization allows Hitachi to expand its digital services, offering comprehensive payment solutions such as UPI, Netbanking, and BNPL. The company processes over 2.5 billion digital transactions annually and aims to boost digital payment adoption and innovation across India.
L&T group facing shortage of over 45,000 labourers and engineers: Chairman Subrahmanyan
The flagship engineering, procurement and construction business is grappling with a labour shortage of 25,000-30,000 labourers, while the information technology and IT-enabled services business is facing a shortage of 20,000 engineers, he told reporters here.
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 law firm SNG & Partners collaborates with Singapore-based ESG firm Snowkap
Mumbai-headquartered law firm SNG & Partners has partnered with Snowkap, a Singapore-based ESG firm, to support global organizations in their sustainability journey. Led by chairman Rajesh Gupta, SNG & Partners has analyzed over 4,000 ESG data points from Indian laws, integrating with Snowkap's capabilities. Co-founders Rajesh Patel and Giri Krishnaswamy highlight the transformative impact of this alliance on reshaping ESG commitments.
Ixigo extends ties with PhonePe to offer flight, bus booking services
The expanded partnership will enable over 54 crore PhonePe users to experience more comprehensive travel booking and utility services for flights, trains and buses, ixigo said.
Route Mobile enables WhatsApp ticketing for Nagpur, Hyderabad, Pune metro services
Route Mobile has partnered with Billeasy E Solutions to offer WhatsApp-based metro rail ticketing services in Nagpur, Hyderabad, and Pune, expanding to four Indian cities including Delhi. Users can chat with the metro's WhatsApp account, select stations, purchase tickets, and receive QR codes. Route Mobile's shares rose 13.59% to Rs 1,737 on the BSE.
Uber's electric vehicle service, Uber Green arrives in Kolkata
Uber launched its electric vehicle service, Uber Green, in Kolkata, offering users on-demand EV rides across the city, including to and from the Kolkata International Airport. The initiative aims to improve air quality in the city and reduce carbon emissions. Uber plans to provide zero-emission services globally by 2040, with approval from the Science Based Targets Initiative. Uber India and South Asia President, Prabhjeet Singh, highlighted the company's commitment to expanding green transportation options in India.
Indus Towers releases pledge to enable UK’s Vodafone to sell 18% stake in tower company
While Indus Towers has released a pledge on a significant portion of Vodafone's stake, enabling an 18% sale, it retains a secondary pledge on the remaining 3.06%. This move stems from a security agreement established during the merger of Bharti Infratel and Indus Towers, wherein Vodafone's stake served as collateral for a $1.4 billion loan taken in 2019 to finance participation in Vodafone Idea's rights issue.
Prosperr.io raises $1.5 million in funding from Silicon Valley investor Gokul Rajaram
Livspace founder Ramakant Sharma, CEO Saurabh Jain, and Cred founder Kunal Shah also participated in the funding round of the AI-enabled income tax solutions startup
Japan Airlines and IndiGo Agree on Codeshare Partnership; enables JAL to expand reach to 14 IndiGo destinations in India
Japan Airlines (JAL) and IndiGo announced a codeshare partnership benefiting customers with more travel options between Japan and India.
New RuPay payment mechanism using NFC: Know who will benefit from it and who may not need it
NFC sticker powered by RuPay: A silicon sticker powered by RuPay using near field communication (NFC) technology is set to be launched. This sticker can be fixed on any solid surface and requires no internet or power and is also waterproof. You can use this NFC sticker for payments at any NCMC enabled terminals in Assam ASTC, Delhi metro, Mumbai BEST, etc.
Tide enables bill payments for MSMEs to streamline expenses
Tide’s Bill Payments are expected to help small businesses pay for a range of utilities such as electricity, gas, postpaid mobile and broadband bills.
Technology-enabled professional services firm Sikich Secures $250 Million minority growth investment from Bain Capital
Sikich LLC received a $250 million investment from Bain Capital to accelerate growth and maintain professional services leadership under CEO Christopher Geier.
Innovative vending: How Daalchini Technologies is pioneering contactless, 24/7 food vending in India
Daalchini Technologies, founded in 2017, is transforming India’s retail sector by introducing IoT-enabled, contactless vending machines for food and snacks. So far, it has installed more than 2000 kiosks across 60+ cities.
People+ai partners with 24 tech organisations to enable open cloud compute infra
AMD, Oracle, and various technology providers collaborate to address the increasing compute requirements. The partnership aims to enhance the compute ecosystem in India through the creation of a network of providers for accessible and tailored compute resources.
Britannia ready to lose on margins to gain on volumes
Britannia, the largest biscuit maker in India, is targeting double-digit volume growth despite potential price increases for wheat and sugar post-elections. The company is also focusing on expanding adjacent businesses and building its core biscuit portfolio. The company plans to align its service towards high-potential retail outlets, build AI-enabled predictive ordering, and upgrade salesforce automation.
Would be aiming for double digit volume growth; post elections it will be slight inflationary: Britannia's Berry
Britannia's Varun Berry prepares for post-election commodity price surge, aiming for growth despite margin erosion. The firm focuses on market route project, service alignment, and salesforce automation to tackle regional competition and pandemic-led disruptions.
hBits forays into Pune property market, acquires asset in CyberCity Magarpatta
Fractional ownership platform hBits is looking to raise over Rs 55 crores for a pre-leased commercial asset it has acquired in Pune marking its foray in the second largest city in Maharashtra.
Aadhaar ATM: In need of urgent cash but don’t have time to visit the bank? Here is how to get cash from home
The IPPB (India Post Payments Bank) Online Aadhaar ATM (AePS) service allows you to access cash from the comfort of your home if you need it quickly and don't have time to visit a bank or ATM.
Enabled by AI, phishing becomes quite simple
Phishing attacks, a prevalent cyber threat in India, are on the rise, growing 464% YoY in 2023. These attacks, often using social engineering, target human interaction and rely on psychological manipulation. Despite increased cybersecurity spending, there's a need for greater awareness and education. Most attacks aim to steal sensitive information like credit card numbers and passwords. The RBI has issued new guidelines to enhance IT governance and risk management in response to the rising number of data breaches in Indian banks.
ETPWLA 2024: Fuelling funding for female entrepreneurship and enabling women-led ventures in Tier I and Tier II cities
Dr. Srimathy Kesan, Seema Chaturvedi, and Mitali Nikore dived into the funding landscape of Indian women entrepreneurs, with an emphasis on those outside metropolitan cities and in challenging sectors such as deep tech, at a panel discussion as part of the ETPWLA 2024 International Women’s Day summit. Discover how inherent biases, structural barriers, and a lack of confidence in women’s capabilities continue to hinder access to funding despite progressive schemes.
India gains with a digital services tax
The moratorium has served its purpose of keeping trade in digital services free without extensive rules over fair play. These rules are unlikely to be codified as long as the tax waiver remains in place. New Delhi has a strong case at Abu Dhabi 13th Ministerial Conference in seeking to sort digital services on a merit scale. Should games receive the same tax treatment as biomedical research? Both activities are increasingly being conducted online. A catch-all approach cannot be perpetuated. The question is: when do you insist on rules for digital trade?
UPI payments failing amid server outages; multiple banks affected
Reports of UPI outage have poured in from various places as users struggle with digital payments. Major platforms like Google Pay, PhonePe, and BHIM have been reportedly affected, along with server issues in banks.
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