BUSINESS
Govt mulls extension of 3-4 months to implement laptop, PC import curbs: Sources
The development comes hours after Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said "there will be a transition period" with the details coming out soon
BUSINESS
White Knight? Ranjan Pai in talks to invest $80-90 million in Byju’s-owned Aakash
The company is further seeking another $200 million (Rs 1,600 crore) in Aakash as a part of the funding round where sovereign wealth funds are expected to come on board.
BUSINESS
TCS reverts to vertical-based operating structure in first major change under new CEO
Moneycontrol had earlier reported that several senior executives were unhappy with the previous group-wise restructuring introduced under former CEO & MD Rajesh Gopinathan in April 2022. New CEO and MD K Krithivasan too kept his BFSI vertical out of that structure
BUSINESS
TCS rejigs senior management positions, appoints new CMO
According to sources in the know, Abhinav Kumar, a TCS veteran who has been with the company for over 21 years, will be taking over the role as the new chief marketing and communications officer for its global markets.
BUSINESS
Lack of transparency prompted board exit, says Byju's shareholder Peak XV
Peak XV Partners writes to LPs to clarify GV Ravishankar’s reason to step down from Byju’s board, cites lack of transparency as reason for his exit. Peak XV told LPs that Ravishankar wasn’t able to discharge his fiduciary duties as an investor and a board member
BUSINESS
MC Interview: Need a quarter or two before we can say difficult times are behind: TCS CEO Krithivasan
BUSINESS
MC Interview | Will improve utilisation to boost margins: HCLTech CEO
The IT services major consciously didn’t backfill attrition this quarter and delayed pay hikes reflecting on tough demand environment, even as headcount decreased by 2,506.
BUSINESS
Deal pipeline in current quarter is at all-time high, expect good sequential growth here on: HCLTech CEO
HCLTech’s quarterly order book for Q1 dropped to $1.56 billion. The decline in order book of Q1 was driven by large clients reprioritising projects and ramping down deals in the tech and telecom segments.
BUSINESS
BSNL deal is not about making money, it’s for nation building: TCS CEO K Krithivasan
A consortium led by TCS had recently bagged an Advance Purchase Order (APO) valued at over Rs 15,000 crore (around $1.8 billion) from BSNL to deploy 4G networks across India
BUSINESS
Double-digit growth could become difficult this year, see momentum once uncertainty ends: TCS CEO Krithivasan
The TCS CEO expects growth momentum to return once uncertainty ends in major markets such as the US and added that they will have better visibility in the second half of the year in a quarter or two.
BUSINESS
Swiggy has no control over valuation markdowns, says food marketplace CEO Rohit Kapoor
The CEO of Swiggy’s core business said that while the company remains excited about quick-commerce, there is consolidation underway and there are only three to four significant players in the sector
BUSINESS
MC Interview | Startups that had to go out of business already have: SoftBank's Rajeev Misra
Misra’s new fund One Investment Management has raised $7 billion in the first close and made an early investment in Shapoorji Pallonji through high-yielding debt
BUSINESS
Sushanth Tharappan to be Infosys' new HR head, replaces Richard Lobo
Sushanth Tharappan replaces Richard Lobo, who will move on to a special projects team under Chief Executive Officer Salil Parekh
BUSINESS
Behind the scenes: What happened between Byju’s and board members?
The directors may have wanted to avoid the liabilities associated with the delay in filing FY22 financials, which typically leads to a penalty being levied on them and damages their reputation.
BUSINESS
Three Byju's board members resign due to differences with founder Byju Raveendran
G V Ravishankar of Sequoia Capital (Peak XV Partners), Vivian Wu of Chan Zuckerberg Initiative, and Russell Dreisenstock of Prosus have resigned, leaving Riju Ravindran, Byju Raveendran, and Divya Gokulnath as the remaining members to sit on the board of directors of Byju’s.
BUSINESS
L Catterton to pick up minority stake in pet-food company Drools for $60 million
The deal, if it goes through, will mark another retail bet for the PE firm in India after ethnic wear and home decor company FabIndia, and beauty-care startup Sugar
BUSINESS
Ola co-founder Ankit Bhati opens up about his new SaaS startup Amnic
Bhati’s new cloud intelligence platform helps technology leaders, engineering heads, and CFOs in startups with a software tool that gives constant feedback on whether the investment made on a particular technology or software is adequate to meet business strategy goals. It could also save cloud costs for companies.
BUSINESS
Bengaluru airport's hyperloop plan hits roadblock; BIAL explores other transport options
BIAL has grand plans to transform the airport into an integrated travel hub. It is now actively pursuing other options like drone taxis.
BUSINESS
Coming soon: 40-meter-high, 360-degree view Garden Pavilions at Bengaluru Airport's Terminal 2
Similar to the viewing gallery at Singapore's Changi Airport, the 'Garden Pavilions' will provide a vantage point to witness planes taking off and landing.
BUSINESS
Fairfax fully committed to Bengaluru airport investment, says BIAL CEO Hari Marar
Retained earnings reinvested in airport development; dividends distributed only twice in the last 15 years, says BIAL CEO Hari Marar
BUSINESS
MC Exclusive: Bengaluru airport's Terminal 2 to handle all international flight operations from September 1
Bengaluru airport aims to be the gateway, not just for South India, but for the entire country, says BIAL CEO Hari Marar.
BUSINESS
MC Interview | Global profit-sharing agreement dissolved, will double down on India: Peak XV's Shailendra Singh
The profit pooling with Sequoia US will cease to exist post the rebranding. Peak XV will also likely enter the US to help Indian startups expand in the country, an indication that the India division will be run completely independent of Sequoia US.
BUSINESS
Ola Electric picks Stan Chart veteran Topsy Mathew as corporate finance head ahead of IPO
Mathew, who was the managing director at Standard Chartered India Bank, will oversee the EV two-wheeler firm’s finance operations as the start-up looks to launch an IPO in 2024
BUSINESS
WestBridge Capital buys majority stake in Tamil Nadu-based Kovai Pazhamudhir Nilayam
The deal values KPN at Rs 800 crore, with WestBridge picking up a nearly 70 percent stake in an all-cash deal for about Rs 550-600 crore
