BUSINESS
I would leave it to the individual: Infosys co founder Kris Gopalakrishnan on working 70 hours a week
Gopalakrishnan's words come at a time when Infosys founder NR Narayana Murthy's statement that youngsters should work 70 hours a week stirred controversy among India's netizens.
BUSINESS
India must spend $1 billion annually for 20 years to train teachers: Narayana Murthy at Infosys Prize
A professor from IIT Kanpur who has worked on air pollution is among the six winners of the Infosys Prize 2023, given by the Infosys Science Foundation
BUSINESS
Byju's settles dispute with Davidson Kempner as Ranjan Pai buys out debt in Rs 1,400-cr transaction
An entity of Pai purchased all the NCDs of Davidson Kempner on NSE Cbrics platform, putting an end to the longstanding troubles between the edtech and investment management firm Davidson Kempner. As per the terms of the deal, Pai will also secure a seat on Aakash's board.
BUSINESS
MC Exclusive: Tech Mahindra may rope in former Infosys EVP Richard Lobo as new CHRO
An Infosys veteran, Lobo is currently an HR consultant and strategic advisor at embattled edtech unicorn BYJU’s. He was Tech Mahindra CEO-designate Mohit Joshi's colleague at Infosys.
BUSINESS
MC Exclusive: SoftBank has marked up valuations of Swiggy, FirstCry, Ola Electric, says Vision Fund CFO Navneet Govil
Navneet Govil says twin Vision Funds have been stabilising in the past two quarters despite macro headwinds; calls out India portfolio as being a better performer relatively
BUSINESS
Wipro makes work from office thrice a week mandatory from November 15, warns errant employees of consequences
Wipro has warned employees that they would face consequences starting January 7, 2024 if they consistently fail to adhere to the new hybrid work policy.
BUSINESS
The TCV puzzle: Why deal wins didn’t translate into revenue growth for Indian IT firms
According to experts, while the TCV is a good metric that reinforces long-term sustainability, relevance of business, and stickiness in client relationships, this metric in isolation does not make sense in today’s context.
BUSINESS
Exclusive: SoftBank takes Indian founders on AI tour in Silicon Valley
AI tour in Silicon Valley: The meetings come at a time when SoftBank has begun to invest actively again, with a focus on the AI trend, and has also been egging portfolio companies across sectors to see how they can use generative AI in their product offerings.
BUSINESS
Byju's CFO Ajay Goel quits, to head back to Vedanta to oversee demerger
Byju's said it has made new appointments in its finance function, with Pradip Kanakia as senior adviser and Nitin Golani, currently the President-Finance, who will take charge as India CFO.
BUSINESS
BharatPe clocks its highest-ever gross revenue in August 2023 at $23.5 million, ARR zooms to $282 million
The pick up in growth will not only give a fillip to its plans for a public listing but also comes as a relief, after the high drama that roiled the startup in the last year.
BUSINESS
Wipro margins will expand once growth comes back: CFO Aparna Iyer
Aparna Iyer took over at a time when Wipro has reported consecutive quarters of revenue decline, margins are below those of other industry players, and the company is struggling with growth
BUSINESS
Fresher training and onboarding needs to be reimagined: HCLTech CEO C Vijayakumar
Despite the current industry-wide trend of slowdown in hiring and more focus on improving utilisation rates, HCLTech's CEO C Vijayakumar said the demand for talent will continue, but the expectations from employees will be quite different now.
BUSINESS
TCS takes month-by-month evaluation approach as customers reprioritise projects, defer spends: CFO
India’s largest IT services company remains cautious about demand because discretionary spending is yet to improve.
BUSINESS
Byju’s investors set up working group to engage with edtech months after stepping down from board
The group includes some of Byju's largest investors, such as General Atlantic, Prosus, Peak XV, Sofina, Chan Zuckerberg Initiative, and Verlinvest.
BUSINESS
Interview: Zoho CEO Sridhar Vembu bats for technology sovereignty, focuses on creating domain-specific LLMs
In an interview to Moneycontrol, Zoho CEO Sridhar Vembu said technology sovereignty should be India's strategy rather than focussing on one technology.
BUSINESS
Billionaire Ranjan Pai to invest in beauty company Purplle
Pai, who recently sold a controlling stake in Manipal Hospitals to Singapore’s Temasek, is paying Rs 60-70 crore to JSW Ventures to become a shareholder in Purplle through a secondary market transaction
BUSINESS
upGrad’s Mayank Kumar quits as edtech consortium chairperson, PhysicsWallah's Maheshwari to take over
Kumar, who was leading India Edtech Consortium since 2022 along with Byju’s co-founder Divya Gokulnath, has sent a mail to the members of the consortium about his decision to quit
BUSINESS
Byju’s to announce FY22 results in the second week of October
Byju’s said in a statement that the board of directors along with the advisory council and certain invitees will meet to formally adopt the audited accounts.
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.
