BUSINESS
New US govt will bring certainty on policies, drive discretionary spending: TCS CEO
TCS’ order book closed at $10.2 billion in Q3. The management said that the strong order book in Q3 is giving them “confidence and comfort on outlook for the future.”
BUSINESS
TCS Q3 order book grows 26% YoY to $10.2 billion, highest in past five fiscal years
Geographically, demand was led by India market, which grew 70.2 percent YoY in constant currency (CC) terms, followed by MEA at 15 percent, Asia Pacific at 5.8 percent and Latin America at 7 percent.
BUSINESS
IT Q3FY25 earnings: From wage hike delays to discretionary spend, five factors to watch
Discretionary spending remains a sore point for IT companies, with clients continuing to prioritise cost-saving projects over large-scale transformation initiatives, say brokerages.
BUSINESS
TCS Q3 preview: BSNL deal completion timeline, client budgets among top 5 themes to watch for
The focus will remain on the management’s generative AI deals commentary, trajectory of the BSNL deal as it has run past its peak revenue contribution phase, margin impact from the rupee depreciation, client budgets and large deals outlook.
BUSINESS
HCLTech rolls out salary hikes for junior employees, senior staff await increments
According to sources, mid to management levels employees haven’t got a hike in at least past two fiscals
BUSINESS
Infosys, HCLTech, Wipro, Tech Mahindra bet big on Agentic AI in 2025
Currently, AI is mostly used to improve operational processes, which will shift to improve core industry-specific business processes like customer onboarding, credit decision-making, and risk management.
BUSINESS
Indian IT companies likely to see margin jump in Q3 as rupee weakens
The impact on margins will be more pronounced in Q4 or the first quarter of FY26 than Q3, even increasing by 100-200 basis points, according to UnearthInsight.
BUSINESS
Bitcoin ETFs, halving, the WazirX fiasco and Trump trades: How crypto fared in 2024
Bitcoin crossed $100,000 for the first time in 2024. Industry experts expect Bitcoin prices to climb up further to $300,000 in 2025 as institutional funds continue to come in through newer crypto token ETFs.
BUSINESS
India is our fastest growing market, doubling every year, says Pure Storage CEO Charles Giancarlo
He also expects “some deflation of the AI bubble,” as existing LLM models have reached competency saturation.
BUSINESS
IT companies see an uptick in digital transformation deals in FY25, signals growth recovery
The top four Indian IT companies, including Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro have signed 18 digital transformation deals in the last 7-8 months of FY25.
BUSINESS
Wipro to acquire IT consulting firm Applied Value Technologies for $40 million
The all-cash transaction is expected to be completed by December 31, 2024, according to regulatory filings on BSE.
BUSINESS
Green power installation startup SolarSquare raises $40 mn in Series B, led by Lightspeed Venture Partners
The fresh capital raised will be used to expand the startup’s presence from 20 cities to 50 cities in the next two years, building its tech stack, hiring and branding.
BUSINESS
Microsoft India’s profit rises 38% in FY24 at Rs 898 crore, revenue up 18%
Microsoft India’s advertising promotional expense declined by 13.77 percent YoY to Rs 320.80 crore.
BUSINESS
MC Interview | On Aptos, 7 out of top 10 applications are from Indian founders: CTO Avery Ching
L1 blockchain startup Aptos plans to double down on its India investment, after seeing nearly 6.5 million out of its 8.5 million total monthly active addresses coming from India, Ching said.
BUSINESS
India will account for 20-30% of the next billion Web3 users: Soneium’s Sota Watanabe
‘Soneium’ is the consumer focused blockchain being developed by Sony Block Solutions Labs, a joint venture between Sony Group and Startale Group.
BUSINESS
Bitcoin crossing $100,000 an inflection point, crypto is here to stay, says Aptos co-founder Avery Ching
'People need to get on to the Bitcoin bandwagon because it's going to be a big part of our future as a society,' Ching, a prominent Web3 industry name, tells Moneycontrol
BUSINESS
Web3, crypto regulatory proposals take centre stage at India Blockchain Week
According to a Hashed Emergent report, the first nine months of 2024 saw funding activity into Web3 startups grow by 82 percent YoY to $462 million, a significant improvement from $254 million in the full year of 2023.
BUSINESS
Tech Mahindra expects double-digit growth from GCC customers in India
The IT services company is seeing robust demand from MNCs' captive units for outsourcing skilled talent, engineering research & development (ER&D), and even developing newer solutions in partnership, especially in areas like AI and generative AI.
BUSINESS
HCLSoftware bets big on India's AI push, sovereign cloud systems
HCLSoftware is developing a Software-as-a-Service (SaaS) transaction platform for Open Network for Digital Commerce (ONDC).
BUSINESS
Global AI Conclave: Capital needed for Robotics and AI startups huge, India doesn’t have that kind of funds today, says ARTPARK co-founder Umakant Soni
Soni and Bharadwaj Amrutur, the executive director of ARTPARK and professor at IISc also spoke about the need for building foundational large language models (LLMs) in India
BUSINESS
Global AI Conclave: Govt should play an enabling role, set up AI ministry, says Inception COO Koshy
Suggesting India take a cue from UAE, Ashish Ipe Koshy said the government’s move to set up an AI ministry six years ago turbocharged a lot of startups
BUSINESS
Global AI Conclave: India needs to build frugal LLMs, has to opt for ‘heterogeneous’ architecture, says Intel’s Santhosh Viswanathan
Viswanathan suggested that India will need to focus on a ‘heterogeneous’ architecture to develop LLMs frugally, which will involve a combination of CPUs, GPUs and LLMs and small language models (SLMs) depending on the use case required.
BUSINESS
IPO-bound CarDekho’s fintech arm Rupyy looks to disburse Rs 900-1,200 cr in used commercial vehicle financing in FY25
Started in April 2024, Rupyy’s used commercial vehicle lending business has already disbursed Rs 300 crore in loans. The fintech also plans to foray into SME and MSME loans in the next two-five years.
BUSINESS
Silicon Valley investor Tim Draper stuns his India team as Bengaluru traffic snarl looks ‘beautiful’
Draper scouts for innovative early stage startups in collaboration with TiE Mumbai across six Indian cities
