BUSINESS
Byju's unveils massive restructuring under new CEO, may let go of 4,000-5,000 employees
These job cuts come at a time when the embattled edtech unicorn is grappling with a tight liquidity situation.
BUSINESS
Death knell, fight for survival: Retrospective tax haunts India’s real-money gaming sector
The forthcoming 28 percent GST tax regime, combined with potential retrospective taxation dues, will make the overall operations unfeasible, likely leading many companies to wind down their businesses, executives say.
BUSINESS
Jatin Dalal’s exit as Wipro CFO sets off disquiet, highlights turnaround struggle under CEO Thierry Delaporte
The exit of the 21-year Wipro veteran and senior leader is the ninth top-level exit in calendar year 2023.
BUSINESS
Sad, disappointed. Wipro must regain intolerance toward losing great talent: Former CFO Suresh Senapaty
Wipro veteran Senapaty told Moneycontrol that retaining talent will be crucial to the company regaining its growth trajectory
BUSINESS
Byju’s undertakes strategic review of all its assets as it looks to focus on core biz, generate cash
Byju's is further considering the sale of some of its other non-core assets to unlock value and manage its debt repayment
BUSINESS
AI could be India’s largest export, says Nvidia CEO Jensen Huang
CEO Jensen Huang said he believes this is a golden time for India, and international desire to invest in India is unlike any time in history.
BUSINESS
India needs to have AI sovereignty: NVIDIA CEO Jensen Huang
Huang, who met Prime Minister Narendra Modi on August 4 as part of his visit to India, said the company would like to work on the acceleration of building AI infrastructure in India.
BUSINESS
NVIDIA inks partnerships with Reliance and Tata to bring advanced AI technology to India
NVIDIA CEO Jensen Huang also detailed his discussions with Prime Minister Modi on how AI can help transform India and the role that his company will play.
BUSINESS
IBM CEO Arvind Krishna says India must develop sovereign AI, moots national AI lab
The chairman and CEO of IBM further said India is poised to ride the AI wave successfully, after BPO and IT services
BUSINESS
Peak XV’s Shailendra Singh stresses on free cash flow, building right culture at founders retreat
In a 40-minute welcome note, Singh asked founders to have clarity on product propositions and how they should have a multi-decade mindset, build defensible moats, and should prioritise solving problems over money
BUSINESS
Flipkart co-founder Binny Bansal plans new start-up in e-commerce space
Binny Bansal is not seeking external capital and will bootstrap the venture with his own wealth
BUSINESS
Mukesh Bansal eyes $50-mn investment from Peak XV Partners, Accel for premium fashion venture
The new venture that Bansal is working on, along with Mohit Gupta, will be in the premium fashion space aimed at Gen Z, an increasingly attractive segment for e-commerce players.
BUSINESS
Lower burn, longer delivery time: What Zepto's pitch deck reveals about quick-commerce space
The deck not only sheds light on granular details about Zepto but also gives colour on the buzzy but intensely competitive quick-commerce space.
BUSINESS
Byju's holds call with over 100 investor representatives on audited results, Term Loan B
Byju's move to update investors comes at a time when India's most valued edtech company has been battling multiple fires, from a missed deadline to rework loan terms, to delays in filing its audited numbers, and a protracted fundraising process.
BUSINESS
Data protection bill: Ashwini Vaishnaw has done a great job, says Infosys co-founder Nandan Nilekani
Nilekani further said the data privacy bill provides a legal infrastructure that will lead to a massive explosion of credit for buyers and sellers.
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
