BUSINESS
Nearly 45% of Mumbai’s soonicorns and unicorns are profitable, says TEAM report
The Tech Entrepreneurs Association of Mumbai (TEAM) also launched an investment collective to back early stage startups, and announced an AI Innovation Hub in the upcoming NAINA.
BUSINESS
25% of IT deal tenures are being cut short with AI, says McKinsey’s Noshir Kaka
Being able to deliver a project in a shorter timeline 'at speed' will become the competitive advantage for IT companies in an AI-driven world, Kaka has said
BUSINESS
AI can reduce project completion timelines, will drive smaller deals: HCLTech CEO C Vijayakumar
Outside the automotive segment, he continues to remain bullish on the company’s ER&D business growth from other verticals such as semiconductors and telecom, Vijayakumar has said
TECHNOLOGY
60% of India’s data centres around Navi Mumbai, Maharashtra will be leader in AI: CM Fadnavis
He shared that MoUs worth $20 billion to build data centres were signed at the World Economic Forum in Davos last month.
BUSINESS
LLMs are a distraction, India needs AGI for geopolitical edge, says Fractal's Srikanth Velamakanni
Velamakanni, who is also an advisor for the IndiaAI Mission said that India is investing ‘too little’ into AI at moment. The country needs to up the ante to about a billion dollars of AI investment each year, he said.
BUSINESS
How government-funded BharatGen is building one of the earliest population-scale LLMs with less than Rs 235 crore
Still in works, BharatGen's AI models will be rolled out in phases over the next nine months.
BUSINESS
No possibility of WazirX takeover but talks are on to help users, says Binance executive
Binance is assisting WazirX track their stolen funds, head of regional markets Vishal Sacheendran has said
BUSINESS
MC Exclusive: India has always been an important market, seeing huge rise in institutional queries, says Binance’s Vishal Sacheendran
Sacheendran also shared that while the talks for bailing out hacked exchange WazirX are still on, a takeover by Binance is unlikely
BUSINESS
A $3-billion revenue target, India and the Middle East expansion: What Hexaware Technologies stock market comeback holds
According to CEO Srikrishna Ramakarthikeyan, the re-listing of the mid-tier IT company will not change its focus or business priorities.
BUSINESS
TCS slashes variable pay for senior employees for second quarter in a row
In the previous July-September quarter too, some employees had received only about 20-40 percent of their quarterly variable allowances (QVA) while others had even got zero percent of it.
BUSINESS
After a 'lacklustre Budget', crypto startups pin hopes on FinMin’s delayed discussion paper
The discussion paper once out will seek feedback from industry stakeholders to finalise a framework for virtual digital assets. It papers was expected to be out by September 2024 but was delayed to March
BUSINESS
Budget Blow: Crypto traders may face 60% tax penalty for undisclosed income under the new proposed IT Act Provisions
Crypto assets have been proposed to be included under Section 158B of the Income Tax Act, effective retrospectively from February 1, 2025. This will bring VDAs on par with other undisclosed income assets such as money, bullion, jewellery.
TECHNOLOGY
Budget 2025: No changes in crypto taxes, but entities need to furnish transaction information
The only change for the crypto sector in Budget 2025 came with an amendment in the Income Tax Act, for the reporting entities including exchanges, to disclose transaction information of crypto assets.
BUSINESS
Biggest economies are pro-crypto, India will follow eventually, says web3 VC Hashed co-founder Ryan Kim
Kim’s comments come at a time when Trump has banned the central bank digital currency but has spoken openly in favour of crypto
BUSINESS
Venu Lambu's appointment as LTIMindtree CEO will drive sales, help bring larger deals: Experts
Industry analysts highlighted margin volatility, positioning of the brand along with other Tier-I rivals, top level exodus as concerns needing to be solved for.
BUSINESS
Top 5 Indian IT companies have less than 50% dependency on H-1B visas
Indian-origin companies like Infosys and TCS were major players for the H-1B visa sponsorship, securing nearly 20 percent of the total approved visas in 2024, according to USCIS data.
BUSINESS
Davos 2025: US clients are now more optimistic about future, says Tech Mahindra CEO Mohit Joshi
Tech Mahindra’s quarterly large deals order book grew from $345 million at the start of Q1 to $745 million at the end of the December quarter, Joshi said
BUSINESS
Davos 2025: Strength of LLMs lie in training them with vast data, that’s what IT companies are good at, says TCS CEO
Krithivasan contradicted the views of US tech companies like Meta and OpenAI, which suggest that AI and AI agents will take over engineering jobs. He believes that AI will only disrupt the way certain engineering roles function.
BUSINESS
IT companies see healthiest recovery in the last 1.5 years in Q3 FY25 earnings
Constant currency revenue and deal wins improved for most while operating margins improved for all in a seasonally weak quarter marked by furloughs.
BUSINESS
AI cannibalising short-term revenues but will deliver long-term gains: LTIMindtree CEO Debashis Chatterjee
Chatterjee said that given the company’s order volume and strong pipeline, he’s confident that FY26 would be better than FY25
BUSINESS
Top 5 IT firms shed 2,500 jobs in Q3FY25 after a quarter of additions
On a positive note, these firms added 10,412 employees in 9MFY25, marking a cautious revival after losing over 57,608 employees during the same period in FY24.
BUSINESS
Tech Mahindra’s strong deal pipeline a sustainable trend, shows growing strength, confidence: CEO Mohit Joshi
Tech Mahindra has added 40 plus new clients in the must have accounts. Of this 12 were onboarded in December quarter itself.
BUSINESS
Tech Mahindra’s headcount declines by 3,785 employees in Q3FY25
As of calendar year 2024, Tech Mahindra has added over 4,700 freshers, said CFO Rohit Anand.
BUSINESS
Tech Mahindra Q3 results: Net profits jumps 92% YoY to Rs 983 crore, revenue up 1.4%
Tech Mahindra reported a decline in net profit sequentially by 21.36 percent. The fall in profit is due to a higher base reported in previous quarter, that came from a one-time special income from sale of assets.
