BUSINESS
TCS shareholders saw 3,000% return on their investment in 17 years: N Chandrasekaran
One share of TCS at a price of Rs 850 during the IPO in 2004 would be worth Rs 28,000 today, giving shareholders a 3,000 percent return on their investment.
BUSINESS
Singer TM Krishna moves court against IT rules; govt given three weeks to respond
The petition was filed by the Internet Freedom Foundation on behalf of TM Krishna, a Carnatic music vocalist from Tamil Nadu, challenging the new IT rules. The matter will be heard in four weeks.
BUSINESS
Virtusa appoints former Cognizant executive Santosh Thomas as CEO
Santosh Thomas will be succeeding the company’s founder, Kris Canekeratne, who announced his transition from the business in May.
BUSINESS
Deutsche Bank to hire 1,000 people in India this year
The hiring, a mix of freshers and experienced professionals, will be in the India tech centres as the bank invest significantly to create technology capabilities internally to cater to changing consumer needs. Its CEO Christian Sewing said that the company will spend 13 billion euros between 2019 and 2022 on the bank’s digital transformation journey.
BUSINESS
Infosys chairman Nandan Nilekani regrets glitches, assures FM tax portal will stabilise in a week
Infosys came under fire from Finance Minister Nirmala Sitharaman as users faced technical glitches in the new Income Tax e-filing portal, which went live on the evening of June 7. FM Sitharaman asked Infosys and its co-founder and chairman Nandan Nilekani to address the grievances in a tweet.
BUSINESS
Koo, Chingari compliant with new IT rules, foreign platforms yet to appoint compliance & nodal officers
Apart from messaging platform WhatsApp, and Indian platforms such as ShareChat, Koo and Chingari, however, there is no word yet on the appointment of chief compliance officer and nodal officer for Facebook, Google, LinkedIn and Twitter.
BUSINESS
Infosys faces heat from FM Nirmala Sitharaman as tech glitches mar new Income Tax e-filing portal
This is not the first time one of the government portals developed by Infosys has faced glitches.
BUSINESS
Exclusive | Ad-free search engine Neeva to launch in India next year: CEO Sridhar Ramaswamy
In an interview with Moneycontrol from the US, Ramaswamy spoke about why he wants to reimagine the future of search, if the subscription-driven model will work and his plans for India.
BUSINESS
Cognizant elevates India head Rajesh Nambiar as President of Digital Business and Technology
He will succeed Malcolm Frank, who retires on September 1. Frank has been with Cognizant for about 16 years in various roles.
BUSINESS
UBS' move to insource adds to Cognizant's woes
In a recent earnings call, the company said that it had to let go of projects due to inability to hire talents.
BUSINESS
Captive Boom! Global companies will add over 3 lakh technology jobs in India in next 3 years
Rapid growth of technology hubs is great news for techies as it creates numerous jobs and raises salaries, but it poses a risk for IT services companies such as TCS, Infosys, HCL Tech and Wipro, as more clients now look to insource rather than outsource.
TRENDS
Clubhouse's first town hall for India: Hindi translation baffles many
A strong non-Hindi-speaking population, especially Keralites, dominate the chatrooms in the social app. After the meeting, many users criticised the Hindi translation. Aarthi Ramamurthy, one of the top executives, later said they will hold these sessions in various languages.
BUSINESS
Explained | All you need to know about Infosys insider trading case
On May 31, SEBI banned eight entities and individuals selling and buying securities directly or indirectly until further notice. Two of them were Infosys employees.
TRENDS
India becomes Clubhouse’s biggest Android market with a million users
The spike in downloads coincides with the appointment of Facebook executive Aarthi Ramamurthy, who will be heading International markets and focus on building global communities for Clubhouse.
BUSINESS
Infosys initiates internal investigation against staff named in insider trading case, says action will be taken
As per SEBI guidelines, Unpublished Price sensitive Information (UPSI) refers to any information that concerns the company directly or indirectly, but is not meant for the disclosure to the larger public.
BUSINESS
Infosys Insider trading case | Experts say it's individual failure, company not at fault
In an order dated May 31, the market regulator Securities and Exchanges Board of India banned eight entities and individuals, including two Infosys employees, from selling and buying securities directly or indirectly until further notice. They were also fined Rs 3.06 crore.
BUSINESS
An IIT-M professor says WhatsApp can trace messages without breaking encryption. Can it work?
Kamakoti has proposed two solutions to enable traceability; one, everyone gets the WhatsApp forward along with the originator of information with end-to-end encryption intact, and two, the originator of information is encrypted, to which only WhatsApp holds the key, on top of the end-to-end encryption.
BUSINESS
Striving to comply with applicable law in India: Twitter on Delhi HC order
The company has named Bengaluru-based Dharmendra Chatur as the interim Resident Grievance Officer for India. Its peers Facebook, Google and LinkedIn too have appointed local grievance officers.
BUSINESS
Malayalis find a new home in Clubhouse
With a launch of Android, Clubhouse has seen over a lakh users in India, and Malayalis particularly have embraced the platform, for whom this has replaced the chayakkada (tea shop) discussions with topics ranging from politics to feminism.
BUSINESS
Govt hits back, says Twitter’s statement baseless, false and attempt to defame India
A Twitter spokesperson had said: “Right now, we are concerned by recent events regarding our employees in India and the potential threat to freedom of expression for the people we serve.”
BUSINESS
Twitter says concerned about India staff safety after police visit
The company has also asked for minimum of 3 months extension to implement the new IT Rules that came into effect on May 26.
BUSINESS
Infosys CEO Salil Parekh's pay increases 45% to Rs 49 crore for FY21
India’s second largest IT services firm closed the year with a great business momentum and had guided for 12-14 percent for FY21.
BUSINESS
In Big tech vs Govt on new IT law, will courts play middlemen? Here’s what experts say
Large social media firms Facebook and Twitter can lose their intermediary privileges today for failing to comply with the new IT law. Losing the tag would mean being held accountable for the content posted on their platforms. The impact will be minimal for on users, say analysts.
BUSINESS
Koo raises $30 million led by Tiger Global, valuation jumps to $150 million
Existing investors such as Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator also participated in the round, while IIFL and Mirae Assets are the two new investors.
