Infosys CEO Salil Parekh revealed substantial interest from clients in Generative AI technology, comparab ...More

Infosys CEO Salil Parekh revealed substantial interest from clients in Generative AI technology, comparable to previous digital and cloud adoption. The company has trained over 250,000 employees in GenAI without expecting layoffs. Despite a significant GST tax demand, Infosys continues to see positive growth due to ongoing client projects and benefits from GenAI technologies. ...Less

The Enforcement Directorate has conducted search operations at the premises of Amazon and Flipkart seller ...More

The Enforcement Directorate has conducted search operations at the premises of Amazon and Flipkart sellers. This and more in today’s ETtech Top 5. ...Less

India’s second-largest IT company Infosys posted upbeat results for the fourth quarter. More numbers in t ...More

India’s second-largest IT company Infosys posted upbeat results for the fourth quarter. More numbers in today’s ETtech Top 5. ...Less

Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages ...More

Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch. ...Less

Global hiring decline in 2023 impacted major IT companies like Cognizant and Capgemini. Indian IT firms a ...More

Global hiring decline in 2023 impacted major IT companies like Cognizant and Capgemini. Indian IT firms also faced headcount reductions. Everest Group attributed layoffs to Covid over-hiring, while Gen AI influenced hiring decisions. ...Less

Most of the technical and derivatives indicators point towards a consolidation this week, with markets li ...More

Most of the technical and derivatives indicators point towards a consolidation this week, with markets likely to be further driven by quarterly earnings, FII flows, geo-politics, and global market sentiments. ...Less

I think after FY23, when they raised guidance in October but then missed due to sudden environmental chan ...More

I think after FY23, when they raised guidance in October but then missed due to sudden environmental changes, management is being cautious. ...Less

The third-quarter IT earnings for FY24 began on a weak note as TCS posted a low single-digit rise in net ...More

The third-quarter IT earnings for FY24 began on a weak note as TCS posted a low single-digit rise in net profit while Infosys saw its profit fall 7%. This and more in today’s ETtech Top 5. ...Less

Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking a ...More

Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch. ...Less

Ravi Menon from Macquarie expresses optimism for a strong run in the Indian IT sector, highlighting compa ...More

Ravi Menon from Macquarie expresses optimism for a strong run in the Indian IT sector, highlighting companies like TCS, HCL, Wipro, and LTIMindtree. He further predicts significant investments in digital transformation and AI, noting Persistent Systems as a standout midcap pick. Challenges are anticipated for sectors like telecom and automotive. ...Less

Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance brokin ...More

Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance broking, wealth management and hyperlocal ecommerce. This and more in today’s ETtech Morning Dispatch. ...Less

The company sharply cut its FY24 revenue growth estimate on the back of an uncertain global environment. ...More

The company sharply cut its FY24 revenue growth estimate on the back of an uncertain global environment. Infosys now sees revenue growing just 1-3.5% in constant currency terms, against 4-7% earlier. ...Less

Some good news to chase away the Monday blues. Remember the thousands who lost their jobs globally? Accor ...More

Some good news to chase away the Monday blues. Remember the thousands who lost their jobs globally? According to experts, a big chunk of those roles could move to outsourcing hubs like India in the coming months. This and more in today’s ETtech Morning Dispatch. ...Less

The employees who were let go were placed on a performance improvement plan from July 1 to 20, sources sa ...More

The employees who were let go were placed on a performance improvement plan from July 1 to 20, sources said. ...Less

In spite of the many startups laying off employees since last year, the Indian IT sector has so far remai ...More

In spite of the many startups laying off employees since last year, the Indian IT sector has so far remained resilient. However, the recent announcement by global IT major Accenture that it will cut 19,000 jobs has brought back some of the fears again. Accenture has opted for retrenchments to drive resilience. “We are trying to cut structural costs so that we are in a better position. We are trying to mitigate the cost by driving efficiency,” Sweet added. ...Less

The Seattle-based technology giant is letting go of at least 500 employees in India, and the process is o ...More

The Seattle-based technology giant is letting go of at least 500 employees in India, and the process is ongoing, they said. ...Less

Byju's quest to settle the $1.2 billion TLB feud might come at a steeper price. The embattled edtech firm ...More

Byju's quest to settle the $1.2 billion TLB feud might come at a steeper price. The embattled edtech firm might have to pony up an additional $50-60 million to service the increased interest rate it has offered to conclude the revised terms for the deal. This and more in today’s ETtech Morning Dispatch. ...Less

A clutch of domestic and foreign investors backing online gaming companies in India has sought a meeting ...More

A clutch of domestic and foreign investors backing online gaming companies in India has sought a meeting with Prime Minister Narendra Modi to voice their concerns on the 28% GST levied on the industry. ...Less

It was a busy Wednesday for policymakers and one that could hold serious ramifications for India’s tech a ...More

It was a busy Wednesday for policymakers and one that could hold serious ramifications for India’s tech and startup ecosystem. Today’s ETtech Morning Dispatch brings you all these details and more. Read on! ...Less

Wipro is cutting mid-level roles to improve margins. It bought Capco for $1.45 billion, Delaporte's bigge ...More

Wipro is cutting mid-level roles to improve margins. It bought Capco for $1.45 billion, Delaporte's biggest bet. Job cuts are part of the 'Left-Shift' strategy. Wipro underperforms and faces conflicting goals. ...Less

The Infosys co?founders’ statement come as big tech companies such as Meta, Google, Amazon and Google had ...More

The Infosys co?founders’ statement come as big tech companies such as Meta, Google, Amazon and Google had laid off techies in the west in a move to cut down costs. ...Less

Hello, happy hump day, but maybe not for Byju’s. Peak XV Partners, formerly Sequoia India, has told its i ...More

Hello, happy hump day, but maybe not for Byju’s. Peak XV Partners, formerly Sequoia India, has told its investors that it will have to significantly mark down the value of its holding in Byju’s as it was in the dark about the company’s finances. This and more in today’s ETtech Morning Dispatch. ...Less

Former HR Head of Infosys, Nandita Gurjar, advises freshers to focus on building their skills and compete ...More

Former HR Head of Infosys, Nandita Gurjar, advises freshers to focus on building their skills and competence, and joining organizations that appreciate learning, rather than focusing on salary expectations. She also suggests that freshers can start their career in any industry, as every industry has become a tech industry. While layoffs may be happening in certain industries, there are also job opportunities available for freshers, depending on the skills they possess, and companies are hiring in different sectors. ...Less

Budget expectations for startups: Ahead of the Budget 2024, the DPIIT has proposed eliminating the Angel ...More

Budget expectations for startups: Ahead of the Budget 2024, the DPIIT has proposed eliminating the Angel Tax for startups to boost capital formation. The department also aims to address the inverted duty structure and high tariffs on electronics inputs. The 'angel tax' issue has sparked political debates, with industry leaders and organizations urging its removal to facilitate startup investments. Startups will await Budget announcements with hopes for measures on angel tax. ...Less

The government may come up with ‘negative list' of countries where cross-border data flow will be disallo ...More

The government may come up with ‘negative list' of countries where cross-border data flow will be disallowed, the minister of state for electronics and IT, Rajeev Chandrasekhar told ET. This and more in today’s ETtech Morning Dispatch. ...Less

Ravi Kumar S, who quit Infosys to take charge of the US firm in January 2023, says while large-scale reor ...More

Ravi Kumar S, who quit Infosys to take charge of the US firm in January 2023, says while large-scale reorganisation is not required, the company will let go of 1% of its staff and rationalise office space. This (employee impact) will be across corporate functions, overheads who are non-billable workforce, he said. ...Less

In a big blow for the Vijay Shekhar Sharma founded fintech, the Reserve Bank of India has barred Paytm Pa ...More

In a big blow for the Vijay Shekhar Sharma founded fintech, the Reserve Bank of India has barred Paytm Payments Bank from offering all banking services after February 29. This and more in today’s ETtech Top 5. ...Less

Complying with Competition Commission of India (CCI) directives, Google is bringing about a change in its ...More

Complying with Competition Commission of India (CCI) directives, Google is bringing about a change in its ‘Google Play payment policy’. The change permits an alternative billing system for users making in-app purchases on mobile phones and tablets, alongside Google Play's billing system. ...Less

TCS reported a sequential revenue increase of only 0.6% in constant currency, and the employee cost as a ...More

TCS reported a sequential revenue increase of only 0.6% in constant currency, and the employee cost as a percentage of the revenue went up sequentially from 55.8% to 56.9%. ...Less

One of the world’s largest crypto lenders, Genesis froze withdrawals in November after the spectacular co ...More

One of the world’s largest crypto lenders, Genesis froze withdrawals in November after the spectacular collapse of FTX. ...Less

The latest developments are an extension of what has transpired in the so-called new economy over the las ...More

The latest developments are an extension of what has transpired in the so-called new economy over the last six to eight months. Layoffs at tech startups are expected to continue until the end of quarter, after which the situation could improve, industry experts said. ...Less

Accenture is usually seen as a bellwether for the global IT sector, and analysts gauge the prospects for ...More

Accenture is usually seen as a bellwether for the global IT sector, and analysts gauge the prospects for the Indian IT sector based on the global firm’s commentary and business outlook. ...Less

Happy Monday. Byju’s has held discussions to pay higher interest rates to its lenders for the $1.2 billio ...More

Happy Monday. Byju’s has held discussions to pay higher interest rates to its lenders for the $1.2 billion loan the company picked up in November 2021, per sources in the know. This and more in today’s ETtech Morning Dispatch. ...Less

US tech hiring surge boosts Indian IT firms like TCS, Infosys, HCL. Job openings in tech positions increa ...More

US tech hiring surge boosts Indian IT firms like TCS, Infosys, HCL. Job openings in tech positions increase, with cities like New York, Washington, Dallas showing high demand. CompTIA forecasts further growth in the tech workforce. ...Less

With a captive user base and high user engagement, fintechs such as Paytm, PhonePe, and Google Pay are be ...More

With a captive user base and high user engagement, fintechs such as Paytm, PhonePe, and Google Pay are becoming popular with direct-to-consumer (D2C) brands seeking a platform to advertise and acquire customers. This and more in today’s edition of the ETtech Morning Dispatch. ...Less

These private-equity and venture capital funds, registered with the Securities and Exchange Board of Indi ...More

These private-equity and venture capital funds, registered with the Securities and Exchange Board of India (Sebi) as AIFs, failed to adhere to the fund tenures specified in their respective offer documents while garnering the corpus, the sources said ...Less

What goes up must come down. The tech world re-learned this old lesson the hard way in 2022 after two yea ...More

What goes up must come down. The tech world re-learned this old lesson the hard way in 2022 after two years of unprecedented growth, during which companies went on hiring sprees that would make Indian Railways blush. On today’s edition of Top 5 we look back on a year of massive, widespread tech layoffs and why the downturn caught so many companies off guard. ...Less

Indian fintechs are eyeing credit lines on UPI as their next big growth opportunity but banks want to put ...More

Indian fintechs are eyeing credit lines on UPI as their next big growth opportunity but banks want to put the brakes on the growth of unsecured credit. This and more in today’s ETech Morning Dispatch. ...Less

On Wednesday, Google announced it would make a slew of changes to Android in India to comply with a rulin ...More

On Wednesday, Google announced it would make a slew of changes to Android in India to comply with a ruling by the country’s competition watchdog last October, which found the tech giant guilty of abusing its market dominance. Now, a number of Indian startups have accused Google of using “delaying tactics”, saying its changes to Android are merely cosmetic. ...Less

Internet industry body IndiaTech, which represents a clutch of startups and VC investors, also said that ...More

Internet industry body IndiaTech, which represents a clutch of startups and VC investors, also said that the longer holding period for unlisted securities to be considered long-term assets means angel investors have to pay up to four times more tax if they sell a stake in an unlisted company after holding it for 18 months. ...Less

With SoftBank and Malaysia’s Khazanah pulling the plug on GoMechanic funding round after EY flagged issue ...More

With SoftBank and Malaysia’s Khazanah pulling the plug on GoMechanic funding round after EY flagged issues like inflated revenues, fictitious garages, the startup has admitted to making what its founder Amit Bhasin called “grave mistakes”. Bhasin also confirmed that the firm will sack about 70% of its employees as its investors including the likes of Sequoia, Tiger Global, Chiratae Ventures, have initiated a financial audit of the firm. ...Less

In the last few months, most IT services companies have taken a tough stance on the practice of employees ...More

In the last few months, most IT services companies have taken a tough stance on the practice of employees moonlighting, with cross-town rival Wipro letting go off 300 employees for working for competition. ...Less

Infosys said earlier today its consolidated net profit for the December quarter rose 13.4% on year to Rs ...More

Infosys said earlier today its consolidated net profit for the December quarter rose 13.4% on year to Rs 6,586 crore, beating estimates. Armed with a strong deal pipeline, the company raised its annual revenue outlook for FY23 from 15-16% to 16-16.5%. ...Less

"My sense is that domestic consumption right now and IT are the two engines. So sales, customer service a ...More

"My sense is that domestic consumption right now and IT are the two engines. So sales, customer service and logistics are where we see the fastest hiring and where the most open positions are. The interesting part is it is not just in 50 cities, we probably have employees in 4,000 cities but our 400 cities are now starting to look like places where demand is. So is this the second tier, third tier are just saving less and consuming more or is there more income? It is still too early to say." ...Less

Techies are battling the highest increase in house prices and rentals as landlords have started charging ...More

Techies are battling the highest increase in house prices and rentals as landlords have started charging inordinate amounts amid the return-to-office demands of managements, as per data accessed by ET. ...Less

The government will propose to allow transfer of data and its storage in “trusted geographies” in the rev ...More

The government will propose to allow transfer of data and its storage in “trusted geographies” in the revised draft of the data protection Bill, doing away with the data localisation requirement proposed in the earlier version, people privy to the matter told us. ...Less

In total, FTX raised $1.9 billion from 80 investors in just two years. The now-bankrupt company’s cap tab ...More

In total, FTX raised $1.9 billion from 80 investors in just two years. The now-bankrupt company’s cap table reads like a list of the world’s top venture capital, private equity and hedge funds. ...Less

The government will propose to allow transfer of data and its storage in “trusted geographies” in the rev ...More

The government will propose to allow transfer of data and its storage in “trusted geographies” in the revised draft of the data protection Bill, doing away with the data localisation requirement proposed in the earlier version, people privy to the matter told us. ...Less

CEO Mark Zuckerberg took the blame for the company’s first-ever mass sacking, saying he was guilty of ove ...More

CEO Mark Zuckerberg took the blame for the company’s first-ever mass sacking, saying he was guilty of over-optimism about its future after growth surged during the pandemic. ...Less

“In the first 10 years of life you have to work 12-14 hours a day to make an impact. Work life balance is ...More

“In the first 10 years of life you have to work 12-14 hours a day to make an impact. Work life balance is fine but understand, work is life. HR will come and tell you about work-life balance, events, etc, but when they get laid off, what happens to you? You get laid off unless you are productive. If you compete with everybody and do better than everybody, then your job is much more secure.” ...Less

The star-studded event in Bengaluru, which will also play host to a galaxy of business leaders, entrepren ...More

The star-studded event in Bengaluru, which will also play host to a galaxy of business leaders, entrepreneurs, investors and policy makers, marks the eighth edition of the country’s most coveted awards for entrepreneurial excellence. ...Less

This will make the US ecommerce major a direct rival to new-age logistics firm Delhivery, Xpressbees, Eco ...More

This will make the US ecommerce major a direct rival to new-age logistics firm Delhivery, Xpressbees, Ecom Express and Flipkart's Ekart, which recently started onboarding external merchants to ship non-Flipkart orders. ...Less

Private equity giant Apis Partners is expected to lead the round and join in as a new investor. Apis is e ...More

Private equity giant Apis Partners is expected to lead the round and join in as a new investor. Apis is expected to invest roughly $65 million, with the rest of the corpus coming from internal investors and private equity funds. ...Less

Happiest Minds asserted that moonlighting is not very prevalent within the company, but did not divulge t ...More

Happiest Minds asserted that moonlighting is not very prevalent within the company, but did not divulge the exact number of employees against whom action had been taken on the issue. ...Less

TCS announced their annual National Qualifier Test (NQT) for final year students graduating in 2024. This ...More

TCS announced their annual National Qualifier Test (NQT) for final year students graduating in 2024. This online test is the first step in their recruitment process for engineers and computer science graduates interested in Ninja and Digital roles. The NQT assesses candidates' aptitude and coding skills. ...Less

According to government officials, Hero Electric and Okinawa have been asked to show documents that suppo ...More

According to government officials, Hero Electric and Okinawa have been asked to show documents that support their subsidy claims while a few other firms have also come under the scanner. ...Less

Swiggy, which earns 75% of its revenue from its food business, has been exploring options to increase its ...More

Swiggy, which earns 75% of its revenue from its food business, has been exploring options to increase its revenue stream from other verticals as it looks to go IPO in the coming few months. ...Less

The company should think about an IPO only in cases where the risks are mitigated to a great extent. Only ...More

The company should think about an IPO only in cases where the risks are mitigated to a great extent. Only if you have complete business visibility for three years – from a revenue and profitability perspective – should you venture into the IPO stage to invite retail investors. The best companies are public companies (that allow) everybody to participate in the wealth generation journey. ...Less

But now the company faces fierce, well-funded competition in the form of Flipkart, which plans to roll ou ...More

But now the company faces fierce, well-funded competition in the form of Flipkart, which plans to roll out similar services in the coming months. ...Less

Report speculative, Board fully supports strategic direction, management team: Cognizant ...More

Report speculative, Board fully supports strategic direction, management team: Cognizant ...Less

The software services behemoth said currency headwinds and wage inflation had a direct impact on its deci ...More

The software services behemoth said currency headwinds and wage inflation had a direct impact on its decision to lay off employees. ...Less

During a conversation with Nandan Nilekani, Uber CEO Dara Khosrowshahi highlighted the Indian market's de ...More

During a conversation with Nandan Nilekani, Uber CEO Dara Khosrowshahi highlighted the Indian market's demands and reluctance to pay. He plans to introduce low-cost service segments and bus services to cater to a wider population. Uber made $3 billion in profits and signed an MoU with ONDC to expand its mobility offerings. ...Less

Competition Commission of India is studying documents found during the raids that suggest financial deali ...More

Competition Commission of India is studying documents found during the raids that suggest financial dealings between the ecommerce majors and their preferred sellers. ...Less

The company, which is backed by SoftBank and Alpha Wave Global, joins a growing list of startups that hav ...More

The company, which is backed by SoftBank and Alpha Wave Global, joins a growing list of startups that have fired employees to conserve cash amid a slowdown in funding. ...Less

Happy Friday! Banks are pushing the pedal on their cobranded credit card strategy as they gain traction t ...More

Happy Friday! Banks are pushing the pedal on their cobranded credit card strategy as they gain traction through large consumer facing internet companies. This and more in today’s ETtech Morning Dispatch ...Less

While the ITeS sector will continue to grow near double-digit levels, headcount will shrink in 2024 by at ...More

While the ITeS sector will continue to grow near double-digit levels, headcount will shrink in 2024 by at least 5 percentage points. If the sector does not shed people, it would indicate seeping complacency, a lack of understanding of the impact of new technologies, and an incipient loss of competitiveness. It needs to reduce headcount, and stay competitive and relevant in the face of automation and AI. ...Less

Millions of working employees will need reskilling and upskilling, which in turn could create new job opp ...More

Millions of working employees will need reskilling and upskilling, which in turn could create new job opportunities as well, say experts ...Less

IT firms have been battling record attrition of late, so startups’ loss is their gain. ...More

IT firms have been battling record attrition of late, so startups’ loss is their gain. ...Less

Every silver lining has a cloud. Infosys announced its first quarter results on Thursday, reporting an 11 ...More

Every silver lining has a cloud. Infosys announced its first quarter results on Thursday, reporting an 11% rise in profit on-year. However, the company cut its revenue guidance, highlighting the macro challenges for the IT sector. This and more in today’s ETtech Morning Dispatch. ...Less

"It is only a question of the level at which you would be interested to look at ITit. The industry itself ...More

"It is only a question of the level at which you would be interested to look at ITit. The industry itself will have to adapt to new things like, the large language models and how that is going to change programming. Those uncertainties will get sorted out and we will find these companies back in demand. On a longer term basis, at a reasonable price, some discount from where we are and buying should re-emerge." ...Less

The move – following Lobo’s 23-year career at information technology services integrator Infosys, where h ...More

The move – following Lobo’s 23-year career at information technology services integrator Infosys, where he last served as executive vice president and head of human resources – comes at a time when the Bengaluru-based edtech steers itself through massive layoff exercises and corporate governance crises. ...Less

Most of the investors look at IT stock on a standalone basis as companies for bottomline line. Now let's ...More

Most of the investors look at IT stock on a standalone basis as companies for bottomline line. Now let's look at it from the perspective, an economy where the biggest export is software services, shouldn't one be watchful when that sector says growth will moderate and there are layoffs in the sector. So if there is a slowdown in the IT sector there is a high probability that other sectors of the economy may also face pressure, specifically the ones where there is a high element of discretionary consumption. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. ...Less

Perhaps what could turn out to be one of the most crucial acts for Digital India was undertaken by the In ...More

Perhaps what could turn out to be one of the most crucial acts for Digital India was undertaken by the Indian Parliament through the passage of the Digital Personal Data Protection Bill, 2023 earlier this week. While the law will impact every entity in this country that deals in the personal data of Indian citizens, tech companies and consumer facing startups are perhaps going to be impacted the most. ...Less

Despite the fact in the last one year, only negative things have been said about IT companies, look at th ...More

Despite the fact in the last one year, only negative things have been said about IT companies, look at their stocks performance. Except one large IT stock which had been a perennial under performer, most of the other IT stocks are not very far from the highs they had touched almost two years back. Infact relative performance of some IT is far better than many of the stocks and sectors which have been headlines. While it might be contrarian buy, there is high probability that IT stocks perform better than most in bearish market conditions. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. ...Less

To curtail the spread of illegal online gambling and betting via offshore platforms in the country, the C ...More

To curtail the spread of illegal online gambling and betting via offshore platforms in the country, the Centre is planning to tighten the rules, especially on UPI payments. This and more in today’s ETtech Top 5. ...Less

The initial $170 million tranche will pay off Davidson Kempner debt; the Manipal chairman may rope in mor ...More

The initial $170 million tranche will pay off Davidson Kempner debt; the Manipal chairman may rope in more PEs. ...Less

On Monday morning we reported that ShareChat was set to join the growing list of Indian startups that hav ...More

On Monday morning we reported that ShareChat was set to join the growing list of Indian startups that have laid off employees amid a brutal funding winter. Later in the day, CEO Ankush Sachdeva told employees in an email that the company was laying off over 500 people or about a fifth of its workforce. ...Less

Byju’s new India CEO is setting about cleaning house with no stone unturned. Within a week of taking over ...More

Byju’s new India CEO is setting about cleaning house with no stone unturned. Within a week of taking over, Arjun Mohan is planning to merge verticals and prune staff strength by a third – that’s over a whopping 4,500 jobs - to rein in costs. This and more in today’s ETtech Morning Dispatch. ...Less

For the full year, the net hiring number stood at 29,219, down 46% from the 54,396 employees hired by the ...More

For the full year, the net hiring number stood at 29,219, down 46% from the 54,396 employees hired by the Bengaluru-headquartered firm for the full year in FY22. ...Less

India’s startup landscape, meanwhile, is caught in a time warp, with embarrassed investors marking down t ...More

India’s startup landscape, meanwhile, is caught in a time warp, with embarrassed investors marking down their stakes in Byju’s, an online education company collapsing under the weight of its own reckless growth. ...Less

Internally, the decision was announced on Wednesday. Mohit is leaving after spending nearly 10 years at B ...More

Internally, the decision was announced on Wednesday. Mohit is leaving after spending nearly 10 years at Byju's. He was a close lieutenant of founder Byju Raveendran. ...Less

Tripathi was one of at least five business vertical heads who reported to Mrinal Mohit, Byju’s India busi ...More

Tripathi was one of at least five business vertical heads who reported to Mrinal Mohit, Byju’s India business head. Four of them, including Tripathi, have quit the firm since June. ...Less

India’s second-largest IT services company Infosys reported over 15% growth in revenue in constant curren ...More

India’s second-largest IT services company Infosys reported over 15% growth in revenue in constant currency terms, while its year-on-year profit grew 8% to Rs 6,128 crore. The Bengaluru-headquartered firm announced a dividend of Rs 17.5/share. ...Less

The quantum of variable pay during Q4 has taken a hit for many companies as they struggle with extended d ...More

The quantum of variable pay during Q4 has taken a hit for many companies as they struggle with extended deal closure cycles and a cautious spending environment. ...Less

If imitation is the sincerest form of flattery, India’s new data privacy law has already made a mark inte ...More

If imitation is the sincerest form of flattery, India’s new data privacy law has already made a mark internationally. Not only are major economies applauding the newly-minted legislation, calling it a “landmark” regulation, some, such as Norway are looking to introduce clauses similar to those in the bill. This and then some in today’s ETtech Morning Dispatch ...Less

The number of female employees increased 6.5% at these IT companies in FY23, outpacing growth in their to ...More

The number of female employees increased 6.5% at these IT companies in FY23, outpacing growth in their total headcount, which was 5.9%, according to a survey commissioned by ET and conducted by staffing firm Xpheno. ...Less

With macroeconomic headwinds stalling growth, hiring across the IT sector is likely to take a hit in the ...More

With macroeconomic headwinds stalling growth, hiring across the IT sector is likely to take a hit in the coming months. And with no green shoots propping up anywhere, a respite is nowhere in sight. ...Less

In a move that Vijay Shekhar Sharma no doubt hopes will please regulators and convince them to greenlight ...More

In a move that Vijay Shekhar Sharma no doubt hopes will please regulators and convince them to greenlight the Paytm founder’s business plans, Ant Financial has transferred a 10% stake in the fintech major to an entity owned by Sharma. The transaction will reduce Chinese representation on the cap table of One 97 Communications, Paytm’s parent. This and more in today’s ETtech Top 5. ...Less

Data from Jefferies shows a cumulative 4.6% dip in sequential revenue from the vertical across IT majors, ...More

Data from Jefferies shows a cumulative 4.6% dip in sequential revenue from the vertical across IT majors, the highest vertical-wise dip compared to all other segments, while revenue from Banking, financial services, insurance (BFSI), which is the largest revenue contributor for the Indian IT industry — saw revenue declining by a lesser percentage — 0.8% during the same period. ...Less

Losses in the international business contracted marginally, by 3%, to $1.24 billion, from $1.28 billion i ...More

Losses in the international business contracted marginally, by 3%, to $1.24 billion, from $1.28 billion in the first quarter of 2022. ...Less

An employee of Indian edtech firm Byju's has posted a video on LinkedIn accusing the company of defraudin ...More

An employee of Indian edtech firm Byju's has posted a video on LinkedIn accusing the company of defrauding customers and workers. Akansha Khemka also complained of a toxic working culture, and her video followed a similar one posted on Twitter by a female worker who criticised the lack of incentives and support at the company. ...Less

This week was Dunzo’s worst ever since it pivoted to quick commerce with Dunzo Daily in 2021. At ETtech, ...More

This week was Dunzo’s worst ever since it pivoted to quick commerce with Dunzo Daily in 2021. At ETtech, we have been closely tracking the Reliance Retail and Google-backed firm. What has come to pass has been in the making for a while. ...Less

The 58-year old executive said the company is "comfortable" with its business model and not perturbed by ...More

The 58-year old executive said the company is "comfortable" with its business model and not perturbed by smaller rival Infosys adding more net business over the last few quarters despite being almost half in size. ...Less

. This has prompted several new-age companies, from Unacademy to Meesho, to lay off employees as they loo ...More

. This has prompted several new-age companies, from Unacademy to Meesho, to lay off employees as they look to cut costs and get back to basics now that the Covid-fuelled funding party is well and truly over. ...Less

This comes as India's largest software exporter had a drop of 2,197 employees sequentially in Q3. ...More

This comes as India's largest software exporter had a drop of 2,197 employees sequentially in Q3. ...Less

Troubled edtech major Byju’s said it has appointed Rajnish Kumar, former SBI chief, and ex-Infosys CFO Mo ...More

Troubled edtech major Byju’s said it has appointed Rajnish Kumar, former SBI chief, and ex-Infosys CFO Mohandas Pai to its Board Advisory Committee. This and more in today’s ETtech Top 5. ...Less

Ecommerce sales — excluding smartphones — have surged 24% in Q2. Industry insiders and research firms ind ...More

Ecommerce sales — excluding smartphones — have surged 24% in Q2. Industry insiders and research firms indicate that the growth in smartphones is driven by premium devices. This and more in today’s ETtech Morning Dispatch. ...Less

Industry lobby group National Association of Software and Services Companies (Nasscom) has sought furloug ...More

Industry lobby group National Association of Software and Services Companies (Nasscom) has sought furloughs and temporary layoff of surplus employees, relaxing daily and weekly work-hour limits, allowing women to work at night from home and a self-declaration regime to comply with government rules. ...Less

By calling out the widespread adoption of private crypto currencies as a risk to monetary stability, the ...More

By calling out the widespread adoption of private crypto currencies as a risk to monetary stability, the RBI has indicated to the market that its stance will only get harder going forward. ...Less