Net fresher addition in Q4 for the company stood at 3,096 freshers. For the entire FY24, HCLTech added 12,141 freshers. The company's total headcount in Q4 was 227,481 IT services giant HCLTech on Friday during its Q4 earnings call said that the company will follow a similar hiring plan as last year, and has set up a target of adding more than 10,000 freshers in FY25..... More https://bit.ly/4aQehaF Via business-standard.com

The carmaker’s Japanese parent, Suzuki, is working on technology that would make hybrid vehicles affordable in India Maruti is also “seriously” considering bringing Suzuki’s plug-in hybrids to India, although not immediately Maruti Suzuki India Ltd’s Japanese parent, Suzuki Motor Co., is working on developing cost-effective technologies that would make the otherwise exorbitantly expensive hybrid cars affordable for b…

Matter deliberated at IRDAI - Industry meet, Bima Manthan The Insurance Regulatory and Development Authority of India (IRDAI) held deliberations on pricing and other modalities of the much awaited all in one affordable insurance product, Bima Vistar, with the captains of industry at the Two-day Bima Manthan concluded here on Friday.....

In India, the company has 27 active investments including in Swiggy, NSE India, Duroflex, Finova Capital, Kishlay Foods, Mintifi, Quikr among others Norwest Venture Partners, a global venture capital and growth equity investment firm, closed its $3 billion fund on Thursday. The firm will deploy the fund across three markets: US, India, and Israel. With the new fund closure, the firm’s total capital under management rose to $15.5 billion. Th…

Tata Electronics, an arm of Tata conglomerate, has recently taken a bold step in India's tech sector by initiating a partnership aimed at localizing the production of iPhone casings. This move signifies a shift from reliance on China. Tata Electronics, a significant player in assembling enclosures for Apple iPhones in India, has partnered with companies in Pune and Bengaluru to enhance the development of high-precision machines, as per a report b…

With 70,000 net additions, FY24 ended as the lowest intake year over a two-decade period The IT sector in India, after a complete fiscal of low-to-no freshers and entry-level hiring, will see fresher hiring pick up in FY25. As the deal pipeline swells, attrition comes down, and utilisation levels peak amid a tough demand environment, fresher hiring will also be an effective cost-play for IT firms.....

The second phase of voting for Lok Sabha elections 2024 will be held on Friday, April 26. This phase will see voting in 89 constituencies in 13 states and Union territories (UT).     All 20 Lok Sabha seats in Kerela will go to polls on Friday, concluding voting in the state....   More https://bit.ly/4dcibfA Via business-standard.com

The aggressive pricing would place JioCinema in a stronger footing to compete with Netflix and Amazon after an agreement with Disney to merge India TV and streaming assets. Mukesh Ambani's JioCinema is offering Hollywood movies and TV shows for as little as one rupee a day in a move that could disrupt India's 1 billion-plus streaming market......

- Automotive clients account for up to 35% of IT services' manufacturing clients - India's top IT firms thus clearly draw meaningful revenue from carmakers around the world - With the advent of electric and tech-laden cars, IT's reliance on automotive revenue is now rising Auto companies may yet smoothen the bumps for Indian IT services in FY24, a year that has so far been one of the worst in the $253-billion industry's history.  The country…

70 per cent of companies have AI projects up and running or in motion India heads the pack as an AI leader, with 70 per cent of companies having AI projects up and running, or in motion. This is in stark contrast with the global average of 49 per cent, according to a report by NetApp.....

The central bank had turned down the firm's application citing complex corporate structure post which PayU had to pause onboarding new merchants for its online payment aggregation business. Prosus-backed PayU Payments has received Reserve Bank of India's in-principle approval to operate as a payment aggregator and onboard new merchants onto its platform. The clearance comes after year-long wait. The central bank had turned down the firm's applica…

Zilingo's ex-CEO Ankiti Bose accuses co-founders Dhruv Kapoor and ex-COO Aadi Vaidya of misleading her and investors, coercing her to relinquish shares and business, and engaging in financial misconduct. Ankiti Bose, co-founder of and ex-CEO of fashion e-commerce startup Zilingo has reportedly filed a criminal complaint against fellow co-founder Dhruv Kapoor and ex-COO Aadi Vaidya, pressing charges of 'cheating', 'criminal intimidation', 'conspir…

One in five 3Ws sold globally was electric, and about 60 per cent of those were sold in India India surpassed China to become the largest market for electric three-wheelers in 2023, thanks to government financial incentives and resulting reductions in the cost of ownership of electric three-wheelers (3Ws), according to a report by the International Energy Agency (IEA)....

RIL share price target: Motilal Oswal ascribed an equity valuation of Rs 810 per share to RJio and Rs 1,593 per share to Reliance Retail and Rs 37 per share towards the new energy business. It suggested a target price of Rs 3,245 on RIL. Reliance Industries Ltd (RIL) reported largely inline March quarter results, with a beat on Ebitda. Among segments, Retail Ebitda was a miss on lower revenue, but it was offset by better O2C on higher utilis…

Indian frequent travellers to benefit from the multi-year visa The EU has eased Schengen visa rules for Indians allowing frequent travellers multi-entry visa for a period up to five years.   “The EU takes another step towards enhancing people-to-people contact with India. New Schengen visa regime gives Indian frequent travellers access to multi-year visa (up to 5 years.) Europe delivers on the partnership,” said He…

The firstever Hindi radio broadcast has started in Kuwait, the Indian Embassy in Kuwait said  The Indian Embassy in Kuwait noted that this step taken will further strengthen the ties between the two nations. In a post on X, the Indian Embassy in Kuwait stated, "Start of first ever Hindi Radio broadcast in Kuwait! Embassy of India expresses appreciation to @MOInformation for starting a Hindi programme on Kuwait Radio on FM 93.3 and AM 96.3 on…

Agilitas will distribute Lotto products through online channels, standalone brand outlets and shop-in-shops with retail partners. Lotto stores will roll out in India in early 2025. Agilitas will sell footwear, apparel, accessories, and sports equipment under the brand. Agilitas Sports has acquired long-term licence rights to design, manufacture, and retail Italian sports brand Lotto in India, Australia, and South Africa from owner WHP Global....

This move comes as Tesla is expected to start importing its cars to India and make an investment in the country.  Tata Motors plans to import its Jaguar Land Rover (JLR) luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, two Indian government sources said. Tesla is also expected to start importing its cars to India and make an investment in the country, Reute…

Axiata Group Bhd's Sri Lankan unit Dialog Axiata PLC will acquire rival telco Airtel Lanka from Bharti Airtel Limited in exchange for 10.355% of the total issued shares in Dialog. According to a joint statement, the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger between Dialog Axiata, the operator of Sri Lanka’s leading quad-play connectivity provider, and Airtel Lanka, which o…

Launched as Dailyhunt Premium, this subscription-based offering will provide users access to premium content from international publishers in over 60 languages  VerSe Innovation, India’s biggest local language technology platform, announced its acquisition of Magzter, a cross-platform, self-service, global digital newsstand with a library of over 8,500 premium magazines and newspapers. VerSe runs new aggregator platform DailyHunt and s…

The report noted that in India, where sales topped $250 million in 2022, all Cerelac baby cereals contain added sugar, averaging almost 3 grams per serving despite the World Health Organization's guidelines prohibiting added sugar in baby food. The Government of India has taken suo-moto cognisance of reports that Nestle reportedly added sugar to infant milk sold in India.....

The ambitious 50% jump in pre-tax profits from the expected $5 billion of Ebitda in FY24 follows the group’s demerger plan that entails a reorganization of its Mumbai-based Vedanta Ltd. into six separate entities based on their sectors Billionaire Anil Agarwal on Wednesday said his group’s UK-based flagship Vedanta Resources Ltd. will be achieving an annual operating profit of $7.5 billion within the next two years.....

Due diligence said to be at advanced stages, company to be valued at $430–450 million Japan’s Mizuho Bank and Dubai’s government-owned NBD Emirates are frontrunner to take over KKR’s stake in Avendus Capital. The two foreign investors are said to be at advanced stages of due diligence and are expected to submit their bids in the next 2 – 3 weeks......

Godfrey Phillips India had on April 12 announced its plan to sell the loss-making 24Seven convenience store chain after a review of its retail business division Godfrey Phillips, backed by the KK Modi group, is in discussions with Tata Trent, Reliance Retail, and Avenue Supermarts for a potential sale of its retail grocery chain, 24Seven, The Economic Times (ET) reported. The outcome of the talks will depend on the valuation, the business daily s…

Matthew Miller was asked why the US has not considered sanctions against India over the matter of the murder plot of Khalistani terrorist Gurpatwant Singh Pannun in New York, the killing of Hardeep Singh Nijjar in Canada and the reported killings in Pakistan.....

LinkedIn Top Companies 2024: Social media job portal LinkedIn has released its list of top 25 workplaces in India with over 5,000 employees, and a top-15 list for mid-size companies with less than 5,000 workers. Take a look. LinkedIn India Top Companies 2024: LinkedIn's annual ranking of top companies, listing the top 25 workplaces in India with over 5,000 employees globally, was released by the social media job portal in a bl…

The first phase of operations with a dedicated line for manufacturing new range of engineered wooden doors have already begun Shakti Hörmann, an industrial, commercial and residential door manufacturing company, has commissioned a 2.50 lakh sq ft manufacturing facility in Mahindra World City in Jaipur. The company invested ₹175 crore to develop the facility, which can produce 1.50 lakh engineered wooden doors......

Cash deposits or withdrawals exceeding Rs 10 lakh (1 million) in a year in a savings account (except current accounts and fixed deposits) require reporting to the Income Tax department. Cash deposits or withdrawals exceeding Rs 10 lakh (1 million) in a year in a savings account (except current accounts and fixed deposits) require reporting to the Income Tax department. Banks and post offices are responsible for reporting such transactions.  …

Gurgaon-based CG Foods India boasts a significant presence in the country's instant noodles market, commanding a 28 per cent share and generating an annual revenue of approximately $130 million. Nepalese billionaire Binod Chaudhary, known for his Wai Wai brand of noodles that rivals market leader Maggi from Nestle and ITC’s Yippee, is nurturing IPO ambitions in India. ....

Apple is in advanced discussions with Titan and Murugappa Group for sourcing crucial components for camera modules used in iPhones, marking a shift from its manufacturing centre in China to India. Tech giant Apple is in advanced discussions with Indian conglomerates Murugappa Group and Titan to assemble and produce sub-components for the camera modules used in iPhones, The Economic Times reported on April 16......

The acquisition is estimated at a total value of ₹413.75 crore Ambuja Cements, the cement and building material company of Adani Group, has signed an agreement to acquire My Home Group’s 1.5 mtpa (million tonne per annum) cement grinding unit in Tuticorin in Tamil Nadu.....

Exports expected to cross 80% of its production Apple has set a new record by exporting $10 billion worth of iPhones from India during FY24, according to data provided to the government — a 100 per cent increase over the previous financial year under the Production-Linked Incentive (PLI) scheme. In terms of consumer products, this constitutes the largest-ever export of a single branded product by any company from India....

Tesla has reportedly signed a strategic deal with Tata Electronics to procure semiconductor chips for its global operations. The deal, which was executed discreetly a few months ago, positions Tata Electronics as a reliable supplier for global clients looking to establish a segment of their semiconductor value chain within India.....

The agreement is a part of the group's renewed focus on growing its energy portfolio in India amid cutthroat competition among large domestic corporations. Vedanta Ltd is set to raise ₹3,900-4,000 crore from Power Finance Corp. Ltd to boost its power generation capacity, signalling the group may be winning back the trust of large domestic lenders. The Anil Agarwal-led company has secured a rupee term loan facility from the state-run lender for…

Party’s key promises include Uniform Civil Code, ‘One Nation, One Election,’ and making Bharat a global manufacturing hub The Bharatiya Janata Party’s (BJP) manifesto on Sunday underscored the party’s fulfilment of its ideological promises of Ram Mandir and Article 370 and committed to ushering in Uniform Civil Code and ‘One Nation, One Election’ besides transforming ‘Bharat’ into a global man…

16 April 2024 Sheraton Grand - Whitefield Bengaluru CIOs Unite: Tech Triumphs with AI India's top IT leaders will gather to provide an overview of the current market situation, highlight business-centric challenges, and discuss the need for and new trends in digital innovation. Big CIO Show is a thought-leadership, business-focused initiative that provides a platform for CIOs who are looking to explore new-age technologies and implement them in�…

PM Modi underscored the necessity of distinguishing esports as a mainstream sport, dissociated from gambling and Real Money Gaming (RMG) applications. In an engaging exchange with some of India's leading creators, Prime Minister Narendra Modi championed the burgeoning esports sector, advocating for its unimpeded growth within a structured and lawful framework to bolster job creation....

TCS dividend: The board of India's top IT services provider today recommended a final dividend of ₹28 per equity share for the face value of Re 1 each of the company. Tata Consultancy Services (TCS) announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Friday, April 12, and the board recommended a final dividend along with releasing the quarterly numbers....

PM Narendra Modi’s 10 years in office have ensured political stability and policy continuity, helping reduce extreme swings in asset prices Under Prime Minister Narendra Modi, India’s stocks have commanded an unprecedented premium to emerging-market peers. As he seeks a third successive term, investors are betting that the performance can continue....

Both conferences are expected to bring together experts and leaders, within their respective industries, to discuss a wide range of themes. VAP Group, an India-headquartered blockchain consulting company that has offices in the UAE, Hong Kong, and the UK, has announced the inaugural editions of its flagship B2B events, the Global AI Show, and the Global Blockchain Show.....

The Digital Communication Commission, an inter-ministerial panel and the highest decision-making body of the DoT, is likely to address the Starlink case ahead of the Tesla chief's visit to India The government is reportedly expediting the processing of Elon Musk-owned Starlink's application for a satellite communication (satcom) licence, despite unresolved concerns such as its connections with US security agencies. According to a report in the Ec…

The government is already considering several measures such as a flexible framework for the sale of products manufactured in SEZs in the domestic market, and streamlining approval processes for units. The aim is to help revive SEZs and facilitate business transactions between SEZs and the domestic tariff area (DTA) or the domestic market....

Hindustan Zinc is set to implement a new technology in partnership with Bhopal-based VEXL Environ Projects Pvt Ltd to increase its metal recovery rate and generate zero waste in its operations. The new technology could potentially increase the zinc metal recovery rate of the Vedanta group company from 97% currently to up to 98.5%, Arun Misra, chief executive of Hindustan Zinc, told Mint. .....

Despite this growth, wired broadband penetration remains low at around 10%, highlighting the dominance of mobile internet usage in the country The adoption of broadband internet delivered via optical fibre cables, which zoomed in after the Covid-19 pandemic, is continuing its rise. The number of wired broadband subscribers in India stood at 39.4 million as of February 29, 2024, as per Telecom Regulatory Authority of India (TRAI) data.....

IndiaLand Group plans to invest about Rs 700 crore in the next few years in the real estate sector In response to rapid urbanisation and land scarcity in metro areas, real estate developers are increasingly setting foot into Tier-II and Tier-III cities. Lower cost of land, untapped growth prospects, and government initiatives to boost connectivity are some of the factors driving realtors to expand beyond the metros..... More https://bit.ly/4…

The gateway to world's largest renewable energy park has a narrow airstrip that doesn't even have an air traffic controller to guide incoming airplanes When Gautam Adani first landed at Khavda in 2022, he joked if anyone could even find a mosquito in the place. Since then, his group has not just laid solar panels that will convert sun rays into electricity and mills to harness wind blowing at the speed of 8 meters per second, but also built colon…

An under-construction 217-room 5-star hotel property near Bengaluru airport, owned by Abu Dhabi-based Twenty Fourteen Hotels India Pvt. Ltd, is on the market for ₹2 crore per room, or an estimated ₹400 crore, at least three people aware of the matter said. While a private equity fund has expressed interest, and is willing to pay ₹350 crore for the property, an additional ₹40-50 crore will be required to complete the construction, said two…

Recent reports of e-commerce player Meesho’s funding talks with Softbank and Tiger Global have sparked renewed interest There are incipient signs that venture capital and private equity funding into startups, which has been on the ebb over the last 15-18 months, is seeing distinct sings of revival. Many of the larger funds that had stayed away from India are returning in a big way.....