BUSINESS
Crypto regulatory framework in 6 months a challenging task: CoinSwitch CEO Ashish Singhal
The conversation with the government has shifted from implementing a possible ban on crypto to it being at least partially regulated, Singhal said.
BUSINESS
CoinSwitch releases second Proof of Reserves report amid G20 regulatory talks
CoinSwitch's total crypto and fiat holdings stood at Rs 1,944.8 crore, which is 6.7 times more than its user holdings.
BUSINESS
Tech Mahindra CEO designate Mohit Joshi confident of medium, long-term growth despite tough Q1
Tech Mahindra’s net profit in Q1 was down by 38% QoQ, order book declined 39%
BUSINESS
Tech Mahindra Q1 results: One of the toughest quarters I have seen in last five years: CEO CP Gurnani
Tech Mahindra's Q1 order book declined over 39 percent QoQ to $359 million from $592 million in the previous quarter due to weakness of the CME segment.
BUSINESS
Tech Mahindra Q1 Results: Headcount declines by 4,103 in Q1
Tech Mahindra's attrition rate dropped to 13 percent from 15 percent in Q4. The firm has been seeing a drop in attrition rate since the first quarter of fiscal year 2023
BUSINESS
MC Explained| What is Sam Altman’s Worldcoin crypto project? How is it going to work?
The Worldcoin protocol also has its own digital currency, WLD token, which will be initially distributed among users for free as they sign up, defining that they are unique humans, and the currency can be used for transactions and payments through a World-ID compatible app called World App.
BUSINESS
Dismal growth, guidance downgrades, declining headcount: How Indian IT majors fared in Q1
The sector appears to be stuck in a situation where it is seeing strong demand along with uncertain deal closure timelines. Analysts say the sector's growth will fall from double-digits to lower single-digit levels in FY24
BUSINESS
MC Interview | We're seeing demand but deals are taking a long time to close: LTIMindtree's Chatterjee
LTIMindtree had previously aimed for double-digit growth in FY24, but CEO Debashis Chatterjee has now said will be challenging in the present macroeconomic climate.
BUSINESS
Indian IT sector’s Gen AI push is more FOMO than actual revenue conversion: Industry experts
Most of the projects discussed by the Indian IT firms, though promising, are still at the proof of concept stage, and it will be a while before they start generating revenue, analysts said.
BUSINESS
IT stocks log in the sharpest single-day surge since Sept 2020 on July 14
Despite the bump, brokerages remain cautious on the sector given the numbers of companies so far and the limited view ahead.
BUSINESS
HCLTech skips salary hikes for management level staff in FY24
The IT services major is also delaying compensation review for the junior to mid-level employees by a quarter.
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
HCLTech acquires German autonomous driving tech firm for $279 million
The acquisition will help the IT services firm strengthen its capabilities in autonomous driving, e-mobility and connectivity; and expand into key automotive markets in Europe, Americas and Japan.
BUSINESS
Our Q1 performance was lower than our expectations: HCLTech CEO C Vijayakumar
HCLTech’s order book dropped to $1.56 billion in Q1, after seven continuous quarters of staying in $2 billion and above range. CEO Vijayakumar stands by his full year revenue growth guidance and expects recovery in the coming quarters.
BUSINESS
TCS says lateral onboarding delayed due to project budgets, to honour all offers made
Moneycontrol first reported on the delays in onboarding lateral recruits by TCS on July 10 by up to three months
BUSINESS
TCS Q1 order book grows to $10.2 billion, clients focus on exploring generative AI
Banking, financial services and insurance (BFSI), a key segment, grew at 0.2 percent QoQ, exhibiting signs of continued pressure.
BUSINESS
TCS delays onboarding of lateral recruits by up to three months
Over 200 lateral recruits across cities including Bangalore, Pune, Kochi, Bhubaneswar, Delhi NCR, and Indore are impacted
BUSINESS
TCS Q1FY24 Earnings| Five things to watch out for
The earnings will be the first under new CEO K Krithivasan, who has taken over the helm at a time when the IT sector is grappling with slowing demand and macroeconomic challenges, which have forced clients to rethink their tech budgets.
BUSINESS
Nischal Shetty’s Shardeum raises $5.4 million in a strategic round
The capital will be used to build larger communities and projects on the layer 1 blockchain network before its opens for and public use alter in the year, the startup has said
BUSINESS
I tried to resign 4-5 times from Apptio: Co-founder Sunny Gupta on his entrepreneurial journey and the company he sold to IBM for $4.6 billion
Apptio’s software manages tech budgets worth $450 billion for client companies. Gupta and his team will continue to operate as a separate entity within IBM after it announced the acquisition, he said.
