Indian multinational IT services and outsourcing company
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Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Wednesday, September 25, 2024. My name is Nelson John. Let's get started.Anura Dissanayake became Sri Lanka's new president this week. Leading a socialist alliance, he won on the back of an anti-corruption campaign. We invited Shweta Singh, an associate professor in the department of international relations at the South Asian University, to explain the implication of his win. A massive focus on economic reforms is expected to be Dissanayake's first move as president. Shweta also explains the ramifications of the election result on relations between India and Sri Lanka, as well as China's growing influence in India's southern neighbour.Boutique investment banks are expanding their roles in the startup ecosystem by not only advising on fundraising but also investing directly. Sprout Capital, Merisis Advisors, and Dexter Ventures have established micro-venture capital funds to tap into diverse revenue streams and capitalize on the potential of various stages of startup growth. These banks are particularly interested in unique investment opportunities, such as buying secondary blocks from ESOP holders and early angel investors looking for liquidity, Priyamvada C reports for Mint. This approach provides a solution for founders who want to avoid wealth firms//what's that?// but need to create liquidity. For instance, IndigoEdge is setting up a $40-50 million fund to invest in late-stage startups, focusing on small, less attractive investment blocks that do not interest larger investors.India is ramping up its aviation game by planning 29 new airports in small towns over the next two decades, aiming to transform these areas into aviation hubs. The plan, spearheaded by the Airports Authority of India, targets states like Gujarat, Karnataka, Madhya Pradesh, and Jharkhand, with Gujarat getting the lion's share—nine airports. Mihir Mishra reports on the move, which is part of a broader initiative that includes a five-year strategy to upgrade 50 existing airports and develop additional ones in major cities to handle growing passenger numbers. These future airports, geared to accommodate large aircraft, are part of an effort to ensure long-term growth and connectivity, especially to international destinations. While the ambitious plan promises to enhance regional air travel and boost economies, experts advise that these expansions be driven by genuine passenger demand rather than political agendas.Foreign streaming giants are treading cautiously in India, a market notorious for its tough competition and price sensitivity. Companies like Warner Bros have delayed launching their own apps, opting instead to license content to local platforms like JioCinema. Similarly, Apple has partnered with Bharti Airtel to offer Apple TV+ without creating local originals. The hesitation stems from modest ad and subscription revenues, driven by the niche appeal of their content. Experts who spoke to Mint's media and entertainment correspondent, Lata Jha, suggest that to win in India, global streamers must tailor their strategies to align with the unique preferences of Indian viewers, such as offering affordable subscription plans and ad-supported models.It's been two years since Larsen and Toubro and Mindtree had their giant merger to create a new IT company. However, till today, the cultural differences between the two entities have not subsided: some 20-odd senior leaders have quit. Over the last two years, LTIMindtree has only been able to record 700 million dollars worth of revenue. Shelley Singh writes about how the falling profits are emblematic of the lack of successes in India's IT sector, outlined by LTIMindtree's merger.
Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Wednesday, August 7, 2024. My name is Nelson John. Let's get started:Indian stock market benchmarks—the Sensex and Nifty—extended their losses for the third straight session on Tuesday. The Sensex finally ended the day down 166 points, or 0.21 per cent, while the Nifty 50 closed 63 points or 0.26 per cent lower.India's neighbour to the east is facing political turmoil. The recent regime change in Bangladesh is shaking up India's trade and infrastructure plans. India shares its longest land border with Bangladesh, and with the economic stability of its neighbour wavering, the government needs to be watchful. This instability could push Bangladesh to reduce imports from India, potentially benefiting competitors such as Vietnam and China. Meanwhile, Indian textile companies saw their stocks soar, betting on a business boost as Bangladesh's global textile reputation takes a hit. The fallout from these tensions includes a potential reshuffle in regional trade dynamics, as India could lose a top trading partner to political chaos. Mint's Rhik Kundu, Dhirendra Kumar and Suneera Tandon explain how the political instability could affect a wide range of sectors, from textiles and technology to energy.The emergence of "de-influencers" – individuals who criticise products online – is reshaping brand perceptions and consumer choices. These ‘reverse influencers' post negative reviews on social media, warning consumers about certain products and in turn hitting companies' sales. As de-influencers gain traction, companies are increasingly wary of the impact on their reputation and sales. Regulatory bodies are stepping up to ensure that advertising claims are accurate and that negative reviews are fair. Mint's Pratishtha Bagai and Suneera Tandon write about the rising phenomenon.The rural Indian job scene is still very much tied to agriculture, although that is changing. Rural youth are setting their sights on more stable, salaried jobs, though these are hard to come by. In a survey of 5,000 rural youth engaged in farming, a huge majority expressed a strong preference for salaried jobs over agriculture. The survey, conducted by the Development Intelligence Unit, Global Development Incubator, and Transforming Rural India, showed that many young people are turned off by the low returns and labour demands of agriculture.While many older rural women are choosing to run small businesses instead, the younger crowd – especially women – is more keen to snag government jobs. Mint's Pragya Srivastava looks at the changing landscape of jobs in rural India through data. Click the link in show notes to see the charts and graphs prepared by Pragya and team.Imagine you work in the tech department of a big IT company and decide to make a little extra cash by trading stocks, only to end up with a one lakh rupee penalty for insider trading. That's the harsh reality of Sudhir Bapusaheb Devkar, an employee at Mindtree who dipped his toes into stock trading without realising the intricate rules around insider trading. This is a tricky area where not knowing the rules can cost you dear. In this piece, Mint Money's Sashing Ningthoukhongjam explains why you should be extremely cautious before booking a profit on an insider trade.The looming US presidential elections have sparked a flurry of concern worldwide. Donald Trump, known for his assertive stance on trade, is back in the spotlight as the Republican nominee. His four years as president marked a significant shift in global trade dynamics, particularly with China, disrupting the existing multilateral trading system and sidelining the World Trade Organization. Now with the potential of Trump 2.0, the global community, including India, is bracing for more stringent tariffs and a renewed trade war with China, which could further complicate the already fragile global supply chain. Mint's N Madhavan takes a deep dive into how a second term for self-acclaimed “tariff man” Trump could be full of surprises for global trade.We'd love to hear your feedback on this podcast. Let us know by writing to us at feedback@livemint.com. You may send us feedback, tips or anything that you feel we should be covering from your vantage point in the world of business and finance. As Bangladesh descends into chaos, India's trade and security hang in balanceBrands fretting as negative influencers rise, pushed toward credibilityIndia's jobs crisis: How dreams of rural youth outpace the labour marketFrom profit to penalty: The perils of insider trading‘Tariff man' Trump can bring a bagful of surprises. Are you ready?
A discussion with Melanie Murphy, Chief Analytics Officer at Fluent. Fluent helps companies acquire and retain customers across the entire omnichannel marketing experience. She has held prior roles at Bed Bath & Beyond, Mindtree, and Experian. She talks about learning to manage 120 people while still in school and how she came to focus on scaling marketing analytics to an enterprise level. She outlines why EQ and soft skills are so important to career success, as well as how she coaches her team members to develop these skills. Her comments on how she uses the open space in her calendar is worth a listen for anyone struggling with balancing a busy calendar and back to office activities. #analytics #datascience #leadership #machinelearning #ai #artificialintelligence #Fluent #Mindtree #Experian #BethBathAndBeyond
An award-winning global director of cirque, cinema and stage. As a comic act designer he specializes in clowns, characters and story components. Stefan is the author of The Power of HA!Connecting Through the Heart of Humor. He studied theatre in college only to realize that his true passion lay in the cross-over to the circus arts, so he set his sights on Cirque du Soleil. As a result of his intuitive gift for mining actors' true potential, various sit-coms hired him to coach actors, including The Roseanne Show. After self-producing a number of critically acclaimed plays in Hollywood and New York City (Call of the Wild, Midsummer Nite's Text, Your Town Follies, Moon Over Madness, Atomic Holiday Lift-Off) he traveled to Europe to juggle on the streets and study with the premiere master-teacher, Philippe Gaulier. This move resulted in a collaboration with Bill Irwin and David Shiner on the Tony- winning show Fool Moon. Haves was then poached by Cirque du Soleil, collaborating on clown and character performances within six touring and resident productions (Kooza, Iris, Amaluna, Banana Shpeel, Zaya, and Drawn to Life). Prior to that, he wrote and directed the world-class Teatro Zinzanni—a dinner/ cabaret featuring such luminaries as Joan Baez. Today, Stefan Haves is a trusted international thought-leader who was tapped to present a TedX Talk in New Delhi, India, and was invited to conduct personal appearances for blue-chip companies like PepsiCo, Infosys, Mindtree, and Barclays Bank. He gleefully shares his innovative message on the role of humor, creativity, and effective expression gleaned from the stage and applied to the corporate workplace. In 2021 Haves was granted the opportunity to co-direct Katy Perry's Playland-branded New Year's dinner/cirque event at Hilton's Resort World in Las Vegas. Earlier in his career, Haves cut his teeth as an actor and a visual-comedian who appeared on stages and television shows worldwide—even garnering $10,000 on America's Funniest People by performing his signature piece "Back-Man". Stefan's 2016 original conception of the spectacle Festigal, in which Haves was tasked to showcase famous pop celebrities from television's Romania's Got Talent, used a Cirque du Soleil aesthetic in a stadium setting. His cinematic offerings include the award-winning short film Punch Drunk, featuring Academy Award nominee Sally Kellerman (M*A*S*H) and full-length feature Stalled starring Doug Jones (Pan's Labyrinth).
In this episode of Market Minutes, Sucheta Anchaliya talks about all the important factors to watch today, from NTPC, LTI Mindtree and Concord Biotech listing to global market setup. Also catch Jinesh Joshi-Research Analyst Prabhudas Lilladher Pvt Ltd in Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends.
Indian benchmark indices — Sensex and Nifty 50 — are likely to open little changed on July 16 after hitting record highs in the last trading session on July 14. This on the hopes of the US Federal Reserve pausing its rate hiking cycle while weak China data remained an overhang. India's GIFT Nifty on the NSE International Exchange was up 0.09 percent at 19,636.5 as of 8:11 a.m. HDFC Bank will announce its results for the April to June 2023 quarter, and JSW Steel followed by Reliance on Friday. Meanwhile, the global setup continues to be very positive. US economists are calling it a goldilocks scenario because inflation is trending down while the labour market continues to be resilient. Economists who expected a recession in the US economy towards the end of the year are saying that now the base case is that the recession may be pushed forward to next year, the early part of next year and it could be a soft landing. The US economy is truly resilient to absorb the more than 500 basis points of rate hikes that we've seen so far in the last 12 months and it's not going to tip it into a very deep and severe recession. Back home, after spending a week consolidating a band of 19,300 to 19,500 the markets convincingly broke out. The Nifty 50 scaled to an all-time high of 19,550 mark HDFC Bank, will report its earnings numbers for the June 30 ended quarter. The stock has a 29 percent weight on the Nifty Bank. Other companies due to post their earnings include LTI Mindtree and Tata Elxsi. Tune in to the Marketbuzz Podcast for more news and cues ahead of today's session
"Technology has transformed not just work but also the culture and the younger generation brings new perspectives and behaviours shaped by the modern tech era.”Welcome to another episode of The Shape Of Work Podcast. In this episode, we have Gautam Gopalakrishna, Country Head at Entrupy, a hardware-enabled SaaS company that uses computer vision algorithms & microscopy to bring trust to transactions. In this episode, Gautam talks about AI technology and the work culture changing due to technology.Gautam has an overall work experience of more than twenty-five years. He started his career all the way back in 1997 and has worked at various IT organisations over the years. Some of them are, Robert Bosch, Ishoni Networks, and Mindtree, where he worked for sixteen years. He did his BE from the University of Mysore and the Executive General Management program from the Indian Institute of Management, Bangalore.Episode HighlightsHow technology is changing the work culture in India?What are some of the current trends in the industry that are going to take over the functioning of the organisation?Mental health challenges during the pandemicThe future of AI in IndiaFollow Gautham on LinkedinProduced by: Priya BhattPodcast Host: Archit SethiAbout Springworks:Springworks is a fully-distributed HR technology organisation building tools and products to simplify recruitment, onboarding, employee engagement, and retention. The product stack from Springworks includes:SpringVerify— B2B verification platformEngageWith— employee recognition and rewards platform that enriches company cultureTrivia — a suite of real-time, fun, and interactive games platforms for remote/hybrid team-buildingSpringRole — verified professional-profile platform backed by blockchain, andSpringRecruit — a forever-free applicant tracking system.Springworks prides itself on being an organisation focused on employee well-being and workplace culture, leading to a 4.8 rating on Glassdoor for the 200+ employee strength company.
David Barkoe - For more than 25 years, David has been developing, managing, and executing successful PR campaigns for some of the world's leading brands and most promising start-ups. He founded Carve Communications in 2014 and is headquartered in South Florida, with team members located across the country in several major cities. Carve Communications is a PR agency that exists at the intersection of technological innovation and everyday life. Before founding Carve Communications, David led bwin.entertainment's launch of partypoker.com in New Jersey and ran a comprehensive thought leadership campaign for Mindtree, one of the world's leading IT services firms. Outline Why do you do what you do? When should a company recognize they need the help of a PR firm? Is PR more integrated with the marketing strategy or is it separate and apart? The difference between paid and earned media. What's in dispute within the PR community? David's hero and why he is a hero.
David Barkoe - For more than 25 years, David has been developing, managing, and executing successful PR campaigns for some of the world's leading brands and most promising start-ups. He founded Carve Communications in 2014 and is headquartered in South Florida, with team members located across the country in several major cities. Carve Communications is a PR agency that exists at the intersection of technological innovation and everyday life. Before founding Carve Communications, David led bwin.entertainment's launch of partypoker.com in New Jersey and ran a comprehensive thought leadership campaign for Mindtree, one of the world's leading IT services firms. Outline Why do you do what you do? When should a company recognize they need the help of a PR firm? Is PR more integrated with the marketing strategy or is it separate and apart? The difference between paid and earned media. What's in dispute within the PR community? David's hero and why he is a hero.
“HR is the bridge between the employer and the employee. We will be able to be that bridge, only when we have an understanding from both an employer's and an employee's standpoint”Today's episode of The Shape of Work podcast features Akshay K, Global Human Resource Business Partner at Wipro, a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Today, Akshay talks about handling the mental stress of employees and the importance of addressing stress in a work environment.Akshay is a seasoned veteran in Human resources as he has a total work experience of more than a decade as of now. He did his Bachelor of Engineering from Ramaiah Institute of Technology and later went on to do his MBA. He has worked at various organisations including Tesco HSC, JCPenney, and Mindtree.Episode HighlightsHow to handle employees who report mental health issues or burnout?The importance of addressing stress in a timely mannerHow do you balance the needs of the organisation and the employee?The importance of the exit pointsFollow Akshay on LinkedinProduced by: Priya BhattPodcast Host: Aparajeeta BoroAbout Springworks:Springworks is a fully-distributed HR technology organisation building tools and products to simplify recruitment, onboarding, employee engagement, and retention. The product stack from Springworks includes:SpringVerify— B2B verification platformEngageWith— employee recognition and rewards platform that enriches company cultureTrivia — a suite of real-time, fun, and interactive games platforms for remote/hybrid team-buildingSpringRole — verified professional-profile platform backed by blockchain, andSpringRecruit — a forever-free applicant tracking system.Springworks prides itself on being an organisation focused on employee well-being and workplace culture, leading to a 4.8 rating on Glassdoor for the 200+ employee strength company.
Dan Mallin and Scott Litman have become synonymous with entrepreneurship in Minnesota. Together, they've co-founders several successful technology startups starting with Imaginet in the 1990s and moving on to Magnet 360, a marketing tech firm they sold to Mindtree in 2016 for a reported $50 million. In all, they've had four exits of their own, and advised countless others. Beyond their own companies, Litman and Mallin may be even better known as the founders of the Minnesota Cup, the state's largest startup competition. Launched in 2005, it's become the gold standard for startup contents—a rite of passage for many Minnesota companies that have gone on to great success and exits of their own. For the last six years, Litman and Mallin have been building another tech company: Lucy. Unlike their previous service-based businesses, this one is a product: an AI-powered management platform designed to help businesses keep track of internal files and documents and find answers quickly. But beyond innovation, this is a story of relationships—the enduring partnership of two independently minded founders, their encouragement of thousands of other aspiring entrepreneurs, and their commitment to building both businesses and an entrepreneurial ecosystem in Minnesota. “This is the best place to build companies,” LItman says. “Everything we've ever touched is really around entrepreneurism. People working hard to achieve a mission. Not letting hurdles or pitfalls get in their way. Hopefully that rubs off on others.” Adds Mallin, “The best ideas are not because of a great idea alone. It's a great idea executed by a great team with the passion to do it.” Following our conversation, we go back to the classroom with University of St. Thomas Schulze School of Entrepreneurship Professor John McVea who picks up on the idea of being “born entrepreneurs,” to point out that we all are. “Innovation is a natural trait. Human beings are naturally inventive.” But successful entrepreneurs don't just make something cool—they do it to add value. “It's an inherently social process and we do that uniquely well in Minnesota.”
Amazon plans to lay off approximately 10,000 people in corporate and technology jobs starting as early as this week, in what would be the largest job cut in the company's history, New York Times reports, citing people who know about the plan. Billionaire Gautam Adani's conglomerate has received the go-ahead for an open offer for broadcaster NDTV's shares. And LTI and Mindtree became LTIMindtree, India's fifth biggest IT company by market cap, yesterday. Notes: Amazon plans to lay off approximately 10,000 people in corporate and technology jobs starting as early as this week, in what would be the largest job cut in the company's history, New York Times reports, citing people who know about the plan. Separately, Amazon founder Jeff Bezos plans to give away the bulk of his wealth, currently at $124 billion, during his lifetime, he told CNN in an exclusive interview. Bezos will devote much of his wealth to fighting climate change and supporting people who can unify humanity in the face of deep social and political divisions, he said. Bezos and his partner Lauren Sánchez also announced a $100 million grant to American country music singer Dolly Parton as part of her Courage and Civility Award. In more billionaire news, India's Gautam Adani's conglomerate Adani group received regulatory approval to float an open offer for a further 26 percent stake in New Delhi Television, or NDTV, Bloomberg reports. This is a crucial milestone in a takeover battle between Adani, Asia's richest person, and NDTV's founders Prannoy Roy and Radhika Roy, according to the report. Adani group triggered a hostile takeover bid for NDTV after it acquired an indirect 29.18 percent stake in August. Samsung is planning to reduce its smartphone shipments by 13 per cent next year IANS reports, citing news from Gizmochina. The Korean tech giant was not able to sell as many smartphone units as it had expected because of multiple reasons, including supply-chain disruptions caused by the Covid-19 pandemic. Although Samsung was able to raise its market share in terms of shipments during the third quarter of this year compared with the second quarter, the company had an overall decline of about 8 per cent year over year, according to Gizmochina, IANS reports. L&T group's IT services companies Larsen & Toubro Infotech and Mindtree will now operate as one company, LTIMindtree, effective Nov. 14, after receiving regulatory approvals, the company said in a press release yesterday. The Mumbai and Bengaluru benches of the National Company Law Tribunal have approved the merger, according to the press release. LTIMindtree has a client portfolio of more than 750 leading global enterprises from all the important industry verticals, and nearly 90,000 employees, operating in more than 30 countries, although the bulk of the IT services outsourcing provider's workforce is in India. The company will become the fifth-largest IT services company in India in terms of current market capitalization. As part of the merger, all shareholders of Mindtree will be issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree. The parent company, L&T, will hold 68.73 percent of the merged entity. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
Equity Cash: Infosys, Mindtree, ICICI Bank Equity Derivatives: DLF 400 CE, Kotak bank 1940 CE Index Derivatives: Nifty 18300 CE, Nifty Bank 42000 CE --- Send in a voice message: https://anchor.fm/kunvarji-group1/message
Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to make a gap-up start on Friday tracking strong global cues. Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — climbed as much as 335 points or almost two percent to 17,292 ahead of the opening bell on Dalal Street. Investors awaited more of financial results from India Inc for domestic cues, with Bajaj Auto and Coal India due to post their earnings later in the day. Infosys and Mindtree reported their quarterly numbers on Thursday.
Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to open lower on Thursday, continuing to fall after a day's breather, amid weakness across global markets as concerns persisted about the impact of steep rate hikes on economic growth. Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — fell as much as 66 points or 0.4 percent to 17,039 ahead of the opening bell on Dalal Street. Investors awaited the financial results of Infosys and Mindtree due later in the day for cues, after TCS kicked off the earnings season on a strong note.
IT major Tata Consultancy Services will kick off the September quarter earnings season today. Wipro and HCL Tech will announce their numbers on October 12, followed by Infosys on October 13. Despite lingering fears of a recession in the West, analysts expect the IT pack to report decent revenues this quarter supported by firm digital spending and deal wins. They expect margin pressures to continue in Q2 due to wage hikes and back-to-office costs. Attrition rate, on the other hand, should start to come down as the macro-environment gets impacted. Total Contract Value (TCV) is a SaaS metric that measures the total revenue from a particular contract or customer, including recurring revenue and other fees More importantly, analysts expect total contract value (or TCV) would be softer, as no large deals have been signed during the quarter. Nirvi Ashar, Fundamental Analyst, Religare Broking says IT companies to perform better in Q2 despite macro concerns. Large-caps could post 2-2.5% QoQ revenue growth in CC terms. Midcaps could post 3-6% QoQ revenue growth led by deal wins. Margins may fall up to 80 bps, but likely to improve after Q3 Sharing similar views, Omkar Tanksale, Senior Research Analyst at Axis Securities believes that IT spends and demand for digital initiatives have been resilient in the recent quarters. Omkar Tanksale, Senior Research Analyst, Axis Securities says IT spends from North America, Europe likely to have been strong. Demand for digital, cloud transformation to have been intact. Do not see any spending cuts in Q2 from large clients. Margin pressure to be offset by rupee weakness, moderation in attrition. From large companies, Kotak Institutional Equities expects Infosys to be the lead winner with a 4.7% sequential revenue growth in CC terms, followed by Wipro, TCS and HCL Tech. Among mid-tier firms, Mindtree is likely to be the top performer with a 5.5% sequential revenue growth, followed by L&T Technology Services, LTI and Mphasis. Meanwhile, on the bourses, the Nifty IT index is down 28% for the year while the Nifty index is nearly flat. The correction has largely been due to the de-rating of valuation multiples, experts believe, but they do not see more downside potential for the same. According to HSBC Global, “Valuations now look reasonable, broadly in line with five-year averages and the market. So unless key markets like US and Europe suffer prolonged recessions dragging Indian IT growth to mid-to low-single digits, the valuation downside risk looks limited. Hence, we expect IT stocks to compound with earnings.” The US monthly jobs data is likely to sway market mood today, as the Street will track global cues, along with rupee levels against the dollar.
Tata Consultancy Services, India's biggest IT services company, will be first off the block in reporting fiscal second-quarter earnings results when it reports its numbers after markets in Mumbai today. Analysts at brokerages in India expect growth to continue, and the high staff churn too in the sector. The rate of growth, however, definitely seems to be headed for a slowdown. Infosys, India's second-biggest IT company, will report its earnings on Oct. 13. Notes: Tata Consultancy Services, India's biggest IT services company, will be first off the block in reporting fiscal second-quarter earnings results when it reports its numbers after markets in Mumbai today. While TCS offers no projections, the numbers and the top executives' commentary should indicate the impact of the ongoing global economic slowdown. Analysts at brokerages in India expect growth to continue, and the high staff churn too. The rate of growth, however, definitely seems to be slowing down. “The revenue growth of Indian IT companies is expected to continue in Q2,” Research Analysts Sameer Pardikar and Sujay Chavan write to clients in a note on Oct. 4. Concerns about the slowdown – and a possible slackening of the demand that had jumped because of the Covid pandemic – have already sent the shares of the top Indian IT companies lower by more than 25 percent this year, as part of a global tech-led selloff. The S&P BSE Information Technology Index – which includes companies such as TCS, Infosys and Wipro as well as smaller companies such as Mindtree and KPIT Technologies – is down 26.2 percent since the beginning of 2022. “The demand environment is expected to be strong in the second half of the current calendar year due to continued deal momentum led by sectors like BFSI, insurance, and retail, but we need to be watchful on how macro, as well as geopolitical risks, play out,” in the second half of the current fiscal year that ends March 31, 2023, the analysts write. They expect Bengaluru's Infosys, the second largest Indian IT company, to report the most growth among the top five leaders, at a 3.5 percent quarter-on-quarter increase in revenues in dollar terms. The ICICI analysts expect TCS to report 1.5 percent sequential growth and 1.2 percent for HCL Technologies and 2.5 percent for Wipro. The outsourcing business at Accenture, the world's biggest professional services and consulting company, is often seen as a proxy by analysts for how demand is shaping up for companies like TCS and Infosys. Accenture's outsourcing business, which was 46 percent of its revenues in its fiscal fourth quarter that ended Aug. 31, rose 16 percent year on year in dollar terms, and 23 percent in local currency, according to the company's press release on Sep. 22. For its fiscal year 2023, Accenture expects revenue growth in the range of 8 percent to 11 percent in local currency. In comparison, revenues rose a record 26 percent in local currency and 22 percent in dollar terms for FY22. The company's forecast factors in a negative 6 percent foreign exchange impact on its US dollar numbers in its current fiscal year. Among India's top IT companies, one data point of interest will be Infosys's forecast for its full fiscal year. Most analysts are expecting the company to maintain the 14-16 percent projection the company made in July. Infosys will report its second-quarter results on Oct. 13. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
Equity: Max India, West Life and JSW Steel Derivative: Nifty 17000 CE, Nifty Bank 38700 CE and Mindtree 3150 CE --- Send in a voice message: https://anchor.fm/kunvarji-group1/message
ServiceNow, the leading digital workflow company making the world work better for everyone, has announced the Now Platform Tokyo release, designed to help organisations navigate complex business challenges amid an uncertain macro environment. The ServiceNow Tokyo release is purpose-built to deliver better employee and customer experiences, supercharge automation and trust in operations, and accelerate value in ways that are good for people, good for the planet, and good for profits. According to the 2022 IDC CEO Survey1, 95% of CEOs see the need to adopt a digital-first strategy and the majority of organizations are down the path of executing their plans. The rationale for this focus is clear: Digital companies deliver twice the revenue growth of non-digital companies, according to Valoir Research2. The new digital-first, fully integrated workflow automation solutions in the Tokyo release increase the power of the Now Platform to create seamless experiences, continuously generate new value by accelerating innovation at scale, and allow people to do their best work. “Our ServiceNow Tokyo platform release gives customers exactly what they need in this moment—new solutions that deliver immediate value, are easy to implement and use, and help them do more with less,” said CJ Desai, chief operating officer at ServiceNow. “Now is not the time to experiment. A platform for digital business is the only way to create great experiences, drive new business value, and accelerate transformation so organisations can focus on growth in our digital-first world.” Accelerating value with purpose-built solutions With today's complex compliance and risk management landscape, customers have asked ServiceNow for solutions that make them more agile and resilient across their enterprise. ServiceNow is responding with new, purpose-built features in the Tokyo release that unlock more value from tech investments for CFOs, COOs, and sustainability teams—simplifying complex supply chains, automating asset management, and delivering auditable, investor-grade sustainability data. Enterprise Asset Management (EAM) automates the full lifecycle of physical business assets from planning to retirement for industries such as healthcare, financial services, retail, manufacturing, and public sector. The solution helps reduce costs, mitigate risks, and improve strategic planning with visibility into the entire enterprise asset estate. Additionally, it optimises inventory levels for the business and operates stockrooms efficiently to better leverage existing assets and maximise asset life. Supplier Lifecycle Management (SLM) empowers organisations to transform traditionally high-effort supplier engagements that live in email and spreadsheets into modern, digital experiences, enabling teams to reduce operating costs and refocus talent on building a more resilient, diverse, and high-quality supply base. With SLM, suppliers leverage self-service experiences to get help, deflecting common inquiries into the respective teams. Environmental, Social, and Governance (ESG) Management has been enhanced to allow companies to establish and document ESG goals and KPIs, track performance, collect and validate audit-ready data, and create disclosures that align with major ESG reporting frameworks, in a single end-to-end solution. Key capabilities include carbon accounting to calculate greenhouse gas (GHG) emissions, and an innovative user experience that helps companies efficiently meet increasing requests for ESG data. ServiceNow is collaborating with DXC Technology, Emissionsbox, Fujitsu, KPMG, LTI, Mindtree, NTT DATA Corporation and RSM US LLP, to extend ESG Management's reach and capabilities into the market. Boosting engagement and productivity with great experiences Now more than ever, employee retention is critical. Engaged, productive, and empowered employees contribute heavily to customer and business success. The Tokyo release helps organisations prioritise their most ...
This is the second part of the conversation with Janakiraman Srinivasan, known as Jani.In the first part, Jani spoke of his initial years in IT and the long career he had with Wipro. We ended that episode when it was a segue into his entrepreneurial roles.In this episode,Jani continues to share more stories related to The startup bug that led him to be a co-founder of MindtreeGetting an international experience, and the tech boom and startup culture in the silicon valley creating a strong impression The emotional connect he had with Mr. Ashok SootaChanges in his experience between two startup contexts 19 years apartHow these changes influenced some of the policies and strategies in the second startupThe benefit of complementary strengths among the co-foundersThe experience of incubating startups within mindtreeHow he moved on to set up NuveproHow he keeps himself updated on emerging and futuristic technologiesAnd how he finds time for all thisHis emotionally stressful phases, when thinking of or making transitions across organizationsThe importance of people in the success of a companyHis career advice for people considering a career in IT and for those already in ITJanakiraman Srinivasan is currently the Chairman of Nuvepro Technologies, a startup in Cloud Technologies and also President of Indo Japan Chamber of Commerce and Industries (IJCCI) - Karnataka. Prior to above, Janakiraman was the President & CTO of Mindtree Ltd, and was one of the Co-Founder and Board Member too. He served Mindtree from 1999 to 2014. Prior to Mindtree, Janakiraman served as the Chief Executive of Global R&D Unit of Wipro where he started his career as one among first five employees in 1980. Janakiraman was one of the Co-Founder of India Semiconductor Association (ISA) in 2002 and served for six years in its executive council, and later as its Chairman and Advisor too. Janakiraman did his BE at Regional Engineering College - Trichi (1973-78) and MTech from IIT-Chennai (1978-80). He is a Distinguished Alumni of REC for his Entrepreneurial Excellence. Janakiraman has served the board of Yokogawa India Ltd till March 2019 for four years. Currently a Board Member in startups Nuvepro Technologies, Innohub Technologies, Sanohub Technologies and Netra Accelerator Foundation. He is actively involved in promoting startups and entrepreneurial environment in Karnataka.Jani may be contacted at janiuma @ gmail.com
In this episode, Janakiraman Srinivasan, known as Jani - an IT industry veteran, in conversation with Shiv shares His childhood days in Kumbakonam, Tamil NaduHis Bachelors from REC Trichy and Masters from IIT Madras and getting into Wipro as a campus recruitee as Employee # 3 His father's role in getting him good educationThe experience of being among the first employees in a newly launched company in a truly entrepreneurial environmentSetting up an R&D team and activity in Bangalore and then setting up a factory in MysoreHow they needed to dismantle the door, to get the first computer outThe significance of bonds with colleaguesThe early culture at Wipro that stressed on many core valuesHis experience in transitioning across various roles - from technical to business responsibilitiesSetting up a system integration or engineering groupWanting to move base to Chennai for personal reasons, taking up a role of a field specialist for the southern regionTaking up the role of a regional field engineering manager, as the person playing that role moved onThe transition to an individual contributor to leading a 50 member team and manage the business operationsBecoming the product manager for the micro systems [PCs], that was a volume, low margin business that still needed superlative customer support experienceAround 1991, being ‘elected' to become the R&D head, when the then head took up a role to set up Wipro Systems Launching the Product Engineering Services business to take the R&D expertise to customersAround 94-95, when quality standards were becoming more popular and mandatory, becoming CEO of Global R&D Growing the R&D team from about 350 to 2200 personsIn part 2, we hear Jani's story with mindtree and beyond.Janakiraman Srinivasan is currently the Chairman of Nuvepro Technologies, a startup in Cloud Technologies and also President of Indo Japan Chamber of Commerce and Industries (IJCCI) - Karnataka. Prior to above, Janakiraman was the President & CTO of Mindtree Ltd, and was one of the Co-Founder and Board Member too. He served Mindtree from 1999 to 2014. Prior to Mindtree, Janakiraman served as the Chief Executive of Global R&D Unit of Wipro where he started his career as one among first five employees in 1980. Janakiraman was one of the Co-Founder of India Semiconductor Association (ISA) in 2002 and served for six years in its executive council, and later as its Chairman and Advisor too. Janakiraman did his BE at Regional Engineering College - Trichi (1973-78) and MTech from IIT-Chennai (1978-80). He is a Distinguished Alumni of REC for his Entrepreneurial Excellence. Janakiraman has served the board of Yokogawa India Ltd till March 2019 for four years. Currently a Board Member in startups Nuvepro Technologies, Innohub Technologies, Sanohub Technologies and Netra Accelerator Foundation. He is actively involved in promoting startups and entrepreneurial environment in Karnataka.Jani may be contacted at janiuma @ gmail.com
Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to open lower on Thursday amid mixed moves across global markets, after a key reading from the US fuelled concerns about aggressive hikes in COVID-era interest rates and their impact on economic growth. Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — fell as much as 74.5 points or 0.5 percent to 15,898 ahead of the opening bell on Dalal Street. Investors awaited more of earnings from India Inc for domestic cues, a day after Mindtree managed to beat analysts' margin forecasts.
In this episode, Usha from PM Power Consulting is in conversation with Chitra and shares her 3 plus decades of experience in software and technology around -Working at Raman institute for 10 years, her first exposure to computing A research institute expects you to do your own learning, but of courseWriting programs for 'astronomical' data analysis and structures of crystals in pascal & Fortran, Finding logic was easy, testing with missing data and reconstructing it was challengingBecoming self-reliant, so finding solutions is now naturalBuilding test harnesses from scratch, Joining i2 tech in supply chain planningSetup the first performance testing lab, getting things startedWorking with resource constraints while setting up the performance labLearned how software products were sold, understanding product ROILearning from Eliyahu Goldratt's book and seeing those principles applied in product developmentCustomer experiences & product deliveryA stint in Australia via Siemens in the telecom domain - testing & system integrationThe evolution towards collective responsiblity from specialized roles & functionsConcept of quality and embracing culture around it, getting people aligned around quality goalsViews on establishing test procedures, measuring effectiveness & ROICustomer experiences right under their nosesImportance of building the right teamsImportant to follow your heart & passionUsha is a Consultant with PM Power. She has worked for companies like Tech Mahindra, Siemens and Mindtree before founding LastMile Consulting Technology Solutions.She has been a practitioner of Agile for 15+ years. She trains and helps large teams adopt agile methods
The world is changing at a pace that's hard to keep up with. So, what a student learns to earn a degree is quickly becoming obsolete. That's true unless you're in Anika Sharma's class. Anika is a professor of business and technology at NYU Stern School of Business, and she is also a General Manager and Global Client Partner for Mindtree. By having her feet in both worlds, Anika sees how Gen Z is changing in real-time and understands what brands are asking for on a day-to-day basis. She then shares that information in educational and business settings. She shared it with us, too, on this episode. Tune in to learn:How Anika brings the classroom to clients at Mindtree (7:30)Trends larger brands are looking for help with (10:50)Getting more to the heart of why companies fail and what we can learn from them (30:30)Up Next in Commerce is brought to you by Salesforce Commerce Cloud. Learn more at http://www.salesforce.com/commerce Mission.org is a media studio producing content for world-class clients. Learn more at http://www.mission.org.
In today's episode for 14th May 2022, we look at the rise of L&T as a tech behemoth and what to make of the merger of its subsidiaries L&T Infotech and Mindtree. We've launched a new endeavor to give simplified health and life insurance advice via Ditto Insurance. Book a free consultation call with our advisors or just drop us a text on WhatsApp for all your insurance queries. Check out Ditto: https://bit.ly/3ym6GjO Insta- https://www.instagram.com/joinditto/ Twitter- https://twitter.com/joinditto
Larsen & Toubro Infotech (LTI) and Mindtree will merge to form a larger IT services company that could be more capable of challenging bigger rivals for digital transformation contracts and global talent. LTI chief executive Sanjay Jalona is leaving and Mindtree's boss Debashis Chatterjee is to lead the combined business. Notes: The combined entity is to be called LTIMindtree, the L&T group companies told the stock exchanges on Friday after markets in Mumbai. LTI CEO and MD Sanjay Jalona, a former Infosys executive who took LTI public six years ago, and is widely seen as responsible for its bigger play today, has resigned. Debashis Chatterjee, a former senior executive at Cognizant Technology Solutions, who joined Mindtree as CEO and MD in August 2019, after L&T group acquired the Bengaluru company, has been named to lead the combined entity. LTIMindtree would become India's sixth-biggest IT services company by revenue, with combined sales of more than $3.5 billion for the year that ended March 31, 2022. The combine would be the fifth-biggest IT company by market cap, at $18.3 billion, surpassing Tech Mahindra's $16.2 billion, as things stood on Friday. Tech Mahindra remains larger, by revenue, with annual sales of over $6 billion. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
The deal market is buzzing with a spate of mergers and acquisitions being announced by India Inc. Starting from PVR-Inox to HDFC-HDFC Bank, the Indian corporates have seen big names announcing mergers. And the list doesn't end here. Larsen & Toubro Infotech and Mindtree could be next in line, while JSW Group, Adani Group, Ultratech Cement, and Shree Cement have reportedly shown interest in acquiring Holcim's Indian assets. Wipro Ltd has also announced acquisition of SAP firm Rizing Intermediate Holdings. On the bourses, shares of these companies have remained volatile, reacting to every news flow. But the key questions remain as to why is there a flood of M&As right now, and how can investors benefit from them? According to Dinesh Arora of PwC India, the trend underlines India Inc's cash-rich companies' desire to expand and eye inorganic growth. Arora explains that companies went for cost cuting in 2020, and 2021 was the year when people started investing in growth. "On supply side, a lot of companies haven't been able to recover. These macro factors are driving the pace and volumes of transactions," he says. According to a report by Refinitiv, M&A activity hit a four-year high at $30.3 billion during January-March quarter of 2022, bucking the global trend where deal-making fell sharply. Deal activity grew by 5.6 per cent year-on-year in value terms in Q1CY22, making it the highest first-quarter period since 2018 when it was $31.1 billion. In volume terms, the M&A activity grew 29.6 per cent YoY, making it the best-ever quarterly number. Yet, Utkarsh Sinha, managing director at Bexley Advisors says India has a long-way to go in terms of maturity of M&A activity. Sinha says the recently announced mergers fall in the horizontal M&A category, which is driven by saturation in scale, aspiration to grow via absorption of competition, or driven by individual sponsors or investors. So, if you wish to benefit from these M&A activities, here's what you need to be mindful of. According to Abhay Agarwal, Founder and Fund Manager, Piper Serica, some M&As are forced. As such investors should carefully assess reasons behind M&As. While short-term traders will be disappointed, Agarwal reminds that most mergers are value accretive only in the long-term. That apart, investors should assess each M&A deal based on synergies and valuation. Ram Kalyan Medury, Founder & CEO, Jama Wealth reminds the Satyam-Maytas fiasco taught us that shareholders are active in opposing deals, but that doesn't mean all mergers are against share-holder interest. Every deal needs to be assessed individually and investors should avoid taking positions based on initial news announcements, he says. In nutshell, deal-making activity including acquisitions, divestitures and alternative M&A strategies will be robust in 2022. Investors, however, need to be patient and look for long-term benefits before betting on them. On Wednesday, stock-specific action amid March quarter earnings will drive the markets. Bajaj Auto, HDFC AMC, HUL and Indian Hotels are some of the prominent companies slated to report their Q4 numbers today. That apart, global cues and cabinet decisions will guide the markets. Watch video
Mindtree and LTI, Mumbai-listed IT services companies that are part of the Larsen & Toubro group, are in advanced merger talks, according to Bloomberg and Economic Times. A merger plan may be announced as early as next week, Bloomberg reported on April 18. The companies have already been teaming up on larger contracts, Economic Times reported yesterday, citing Mindtree CEO Debashis Chatterjee. A merger would narrow the gap between the combined entity and Tech Mahindra, India's fifth-biggest IT services company, by revenue. By market value, the combined entity would surpass Tech Mahindra, at current share prices. Meanwhile, Makers Lab, the research and development arm of Tech Mahindra, has set up a Quantum Center of Excellence, called QNxt, in Helsinki, the company said in a press release. The centre will accelerate the adoption and commercialisation of quantum technologies globally. The European Union is a step closer to mandating USB Type-C chargers across electronic devices, which will be a blow to Apple, which continues to require its proprietary lightning charger for its iPhones and iPads. On Wednesday, the EU's Internal Market and Consumer Protection Committee adopted its position on the revised Radio Equipment Directive with 43 votes in favour and two against, according to a press release from the European Parliament. The EU wants to have a strategy by the end of 2026 that allows for minimum interoperability of any new charging solutions. Brave Software has released a new feature on the Brave browser, called Discussions, which will surface results from forums like Reddit, the company said in a blogpost yesterday. To find discussions, just search for what you want using Brave Search. Ashwin Damera, Founder and CEO of Eruditus and Emeritus has invested Rs. 240 crore ($32 Million) in venture debt finance company, InnoVen Capital India Fund. The investment was made through Ashwin's family office which is co-managed by Ashwin and his wife Bhagyashree Damera. Loop, a Pune-based healthcare and insurance startup has raised $25 million in a Series B round co-led by General Catalyst and Elevation Capital, the company said in a press release. Lightspeed has elevated three executives to the role of partner, on its early-stage investment advisory team, the VC firm said in a blog post on April 19. The three are Shuvi Shrivastava, who joined the firm as an associate in 2015, Pinn Lawjindakul, and Rahul Taneja, who both joined in 2020. Shuvi was responsible for Lightspeed's investments in startups such as Darwinbox, Uni, Pixxel, Rattle, Bhanzu, and xFlow. Pinn helped expand Lightspeed's operations in southeast Asia and Rahul Taneja was chief business officer before being named partner, according to the post. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
Indian equity benchmarks Sensex and Nifty50 are likely to open mildly higher on Monday, shrugging off a mixed trend across global markets, in a rebound from near one-month lows. At 7:42 am, Singapore Exchange (SGX) Nifty futures -- an early indicator of the Nifty index -- were up 41.5 points or 0.2 percent at 17,267.5. Investors awaited more of earnings reports from India Inc for cues, a day after Mindtree posted a strong set of financial results.
Indian equity benchmarks Sensex and Nifty50 are likely to open mildly higher on Monday, shrugging off a mixed trend across global markets, in a rebound from near one-month lows. At 7:42 am, Singapore Exchange (SGX) Nifty futures -- an early indicator of the Nifty index -- were up 41.5 points or 0.2 percent at 17,267.5. Investors awaited more of earnings reports from India Inc for cues, a day after Mindtree posted a strong set of financial results.
In this episode, find out about L&T's plans to merge Mindtree and L&T Toubro Infotech, also find out about SBI's move to hike the lending rate after 3 years Business Term of the Day: Marginal Cost of funds based lending rate (MCLR)
Equity markets ended the holiday-shortened week on a tepid note as rising bond yields, coupled with expected monetary tightening, high crude oil prices and anxiety ahead of Q4 results, back home, weighed on the investor sentiment. The BSE S&P Sensex and the NSE Nifty 50 indices declined nearly 2% in the three-day trading week while the Bank Nifty index managed to better the benchmarks, with a loss of 0.8%. The Nifty IT index, however, tanked about 3% in the result heavy week. And, as the markets open today after a four-day gap, it will have to factor in a host of developments in the world markets. Besides, it will also react to the earnings reported during the break including that of Infosys and HDFC Bank. That apart, all eyes will be on WPI-based inflation numbers which will be released later today. On the earnings front Mindtree, ACC, L&T Infotech, Tata Elxsi, HCL Technologies, ICICI Lombard, L&T Technology, Nestle, Hindustan Zinc, Tata Metaliks and ICICI Bank are some of the prominent companies due to announce Q4 results this week. Globally, China's macroeconomic data, developments in the world markets, and the Ukraine war shall be closely tracked. From a sectoral viewpoint, here's how Vinod Nair of Geojit Financial Services expects the market action to pan out. Against this backdrop technical charts suggest a trading range of 17,150 to 18,000 for the Nifty50 index, with a support at 17,300 level. For the Sensex, tech charts indicate support at 57,700 and resistance at 59,000. Watch video
Speciale Invest, a VC firm in Chennai that focuses on early-stage deep tech ventures in India, has announced the final close of its second fund at $38 million. The fund was oversubscribed twice over since the firm announced its first close in April last year. “This fund is 4X our first fund, and we are excited to play an active role in influencing the deep-tech entrepreneurial ecosystem in India,” Vishesh Rajaram and Arjun Rao, who founded Speciale in 2017, told Forbes India. They have backed entrepreneurs in areas including enterprise software products emerging from deep tech in the cloud, voice and vision ML/AI, image analytics, AR/VR; and industrial hardware products in propulsion technologies, robotics, rocket engines, lithium technologies, microelectronics and optical communications. Gupshup, a conversational engagement platform company, has acquired Active.Ai, a conversational AI platform provider to banks and fintech companies. The acquisition strengthens Gupshup's customer experience (CX) solutions for BFSI customers, it said in a press release. CynLr, a deep-tech startup developing a computer-vision-enabled robot to make ‘universal factories' of the future a possibility, has raised $4.5 million in fresh funding. CynLr's Visual-Robot Platform eliminates the trap of machinery customisation. CynLr envisions its Visual-Robots or Object Computers to ‘simplify' manufacturing, just as the computers simplified data processing. CynLr will be establishing its business presence in the US, expanding its team and building capacity to address the current pipeline of customers and deliver 100 Robots annually, the company said in a press release. Futwork, a sales-as-a-service platform for companies looking to scale their outbound tele-calling operations, has raised $1 million in funding led by Blume Ventures and Simile Venture Partners. Other participants include Silicon Valley-based Riverside Ventures and various angel investors. PhonePe plans to double its employee strength this year. The digital payments unit of Walmart's Indian ecommerce business Flipkart, said in a press release. The company plans to fill 2,800 vacancies in engineering, product development, analytics, business development, and sales. The jobs are based in Bangalore, Pune, Mumbai, Delhi, and other parts of the country. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
Mindtree's founders have closed the inaugural fund at their early-stage venture capital firm Mela Ventures at Rs. 320 crore, well exceeding their initial target of Rs. 200 crore, Economic Times reports. EV company Ather Energy sold 2,042 scooters in February this year, a 140 percent increase over the same month in 2021. Plus, Sony has released a new wireless headphone for bass enthusiasts. Notes: Mindtree founders' VC firm closes first fund at 320 crore rupees Mindtree's founders have closed the inaugural fund at their early-stage venture capital firm Mela Ventures at Rs. 320 crore, well exceeding their initial target of Rs. 200 crore, Economic Times reports. Krishnakumar Natarajan and Parthasarathy NS started Mela after leaving Mindtree, their Bangalore based IT services company which was acquired by Larsen & Toubro Group. They will back companies in the business-to-business segment. Mela achieved the first close in August 2020 when it secured Rs. 130 crore from investors. The fund of funds from India's Small Industries Development Bank contributed a significant portion of Mela's first fund, while the rest came from investors including Nippon India Digital Fund, several family offices and ultra-high-net-worth individuals, according to ET. EV company Ather can't keep up with demand Ather Energy sold 2,042 scooters in February this year, a 140 percent increase over the same month in 2021, the company said in a newsletter. The company could have sold many more if it had been able to make them faster, according to the newsletter. Ather says that February's sales represent a fraction of the Bangalore-based electric scooter maker's pending pre-orders. Bizongo sees jump in revenue as textile units adopt its tech Bizongo, which provides an online platform for small manufacturers to digitalise their operations, saw its revenues increase 20-times to Rs. 600 crore in the last 11 months, on an annualised basis, as its solutions saw rapid adoption by the textile hubs of the southern Indian states of Tamil Nadu, Andhra Pradesh, and Karnataka, the Bangalore startup said in a press release yesterday. A substantial part of the growth is driven by the digitalised and automated supply chain financing solution provided to manufacturers to help them with their credit and working capital needs. Bizongo has been helping MSMEs with collateral-free and minimum documentation working capital lines, according to the press release. Student loan startup Kuhoo raises $20 mln in seed funding Kuhoo, a fintech startup providing student loans, has raised $20 million in seed funding from WestBridge Capital. The Mumbai-based company founded by Prashant Bhonsle, a former banker, aims to provide online loans to students aspiring to study in universities in India and abroad. The company's products will cover engineering, MBA, executive education, online courses, coaching classes, and even-new age courses, it said in a press release. Sony releases WH-XB910 with more bass Sony India has launched a new overhead wireless headphones WH-XB910 featuring the company's EXTRA BASS technology, the company said in a press release on February 28th. The headphones are equipped with 40 mm drivers and they offer club-like bass, improved noise cancellation with dual-sensor noise technology, adaptive sound control, and up to 30 hours of battery life. The headphones are now on sale and will set you back by about Rs 15,000. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
Krishnakumar Natarajan, Co-founder of Mela Ventures, and former CEO of MindTree, discusses the Indian Venture ecosystem.
Mindtree co-founder Subroto Bagchi on his philanthropy, the personal journey that brought him to it, and how big donations can lead to institution building.
Top headlines · Sensex pares gains to end 77 points down; Nifty holds 17,100 · ONGC soars to 32-month high on improved outlook · Bharti Airtel rises 6% on Google's $1-bn investment plan, erases gains later · PSE stocks surge ahead of Budget; CPSE index gains 1% · Adani Wilmar IPO subscribed 1.08 times on day 2 The frontline indices started Friday's session on a positive note but ended the volatile week marginally in the red. The BSE Sensex started gap-up and gained 807 points to touch the day's high but a sharp sell-off in the last hour of trade dragged the index into the negative zone, down 77 points at 57,200. Its NSE counterpart, the Nifty50, ended with a loss of 8 points at 17,102. This was 271 points lower than its intra-day high. For the week, the benchmark indices were lower by 3% each. The indices' breadth was slightly skewed towards buyers, as 14 of the 30 Sensex constituents and 19 of the 50 Nifty constituents ended in the red. The losses were led by Maruti Suzuki, Tech Mahindra, Power Grid, Hero MotoCorp, ICICI Bank and Axis Bank. On the upside, NTPC, UPL, ONGC, Sun Pharma, IndusInd Bank, Tata Consumer Products, and ITC ended as top performers. In the broader markets, the BSE MidCap and SmallCap indices bucked the trend and ended 1% higher each, with LIC Housing Finance, Castrol India, Apollo Hospitals, Mindtree, Sun TV and HT Media rallying up to 18.5%. Kriti Industries, Mahindra Logistics, HG Infra, TVS Motor, RBL Bank, and IDBI Capital were the worst-hit stocks from the space. Sectorally, the Nifty IT index was a significant gainer. It ended with gains of 1%. With this, the index snapped its 8-day losing run. The IT pack was supported by strong Q3 results of Coforge and Birlasoft, which closed 7% and 1.6% higher, respectively. The Nifty Healthcare index was the other prominent gainer, up 1.5%, followed by Realty and FMCG. On the BSE, the CPSE index gained 1% with public-sector companies putting up a good show ahead of the Union Budget. Mangalore Refinery, Bharat Immunologicals, ONGC, NTPC, IRCTC, Concor, NLC India and NMDC were some of the top gainers on the index. On the other hand, Nifty Bank was the top loser, down 0.8% along with Financials and Auto indices. Among individual stocks, oil major ONGC touched a 32-month high on the BSE on improved outlook amid rising oil prices as higher oil realisations and modest production could spur the company's EBITDA in the December quarter. The Brent crude benchmark has topped the 90-dollar-a-barrel mark for the first time in seven years. Besides, the shares of telecom major Bharti Airtel rallied over 6% intra-day after it announced that internet giant Google would invest up to $1 billion in the company through equity investment and commercial partnership agreements. For the former, an investment of $700 million would be made by Google to acquire a 1.28% ownership in the company. Profit booking at higher levels, however, saw the counter erase these gains and close just 1.2% higher. Lastly, the IPO of edible oil major Adani Wilmar had been fully subscribed at 1.08 times on day 2 as of 4:15 pm. The retail investor portion was subscribed 1.79 times, while the non-institutional investor and qualified institutional buyer categories had been subscribed 0.85 and 0.32 times, respectively.
The screeching halt in equity rally has taken investors by surprise. After starting the new calendar year on a solid note, market participants are looking for cover ahead of the US Federal Reserve's policy meeting. The Federal Open Market Committee is due to meet on Tuesday and Wednesday to decide on the next steps for US monetary policy. Fears that the policy could be hawkish and potentially outline the case for interest rate rises starting in March has spooked riskier assets. Given this, benchmark indices crashed 2.6 per cent yesterday, wiping off all the gains logged, so far, this year. The BSE Sensex plunged over 1,500 points while the Nifty50 gave up the crucial 17,150 level. With this, the indices have broken below their key support levels, indicating a wild ride ahead. The pain in the broader market is more severe, which is a cause of concern. The Mid Cap and Small Cap indices on the BSE have cracked 8 per cent each in a week. Individually, Spandana Sphoorty, Vodafone Idea, Max Healthcare, PI Industries, Info Edge (India), Mindtree, PTC India, Havells India, Tech Mahindra, Mphasis, and Aurobindo Pharma are some of the stocks from the mid- and small-cap segments that have lost between 10 per cent and 28 per cent this far in 2022. At present, 221 stocks in Nifty 500 – nearly 44 per cent – are trading below their respective 200-DMA with Apollo Tyres, Finolex Cables, Jindal Steel & Power, Wipro, Godrej Properties, Adani Ports and Special Economic Zone witnessing intense selling pressure. And if the global sell-off continues, marquee names like Ambuja Cement, Axis Bank, BPCL, Divis Labs, HDFC Bank, HDFC, Hero MotoCorp, HUL, SBI Cards, Wipro and Tata Steel may see aggravated selling. As uncertainty around the tightness in the policy along with upcoming expiry and the Union Budget could keep the space volatile, analysts advise investors to stay away from the mid-and small-caps for now and use the market fall to buy large-caps. That said, Jitendra Gohil, head of India equity research at Credit Suisse Wealth Management doesn't anticipate India's valuation premium to materially de-rate in the near-term given marked improvement in macro fundamentals and strength in corporate balance sheet. Currently, he continues to maintain a moderate overweight position in midcaps. As regards today, investors will eye the two-day meeting of the US Federal Reserve, bond yield and oil price movement, and news flow around likely Budget announcements. That apart, Q3 earnings of Cipla, Maruti Suzuki, Lodha Developers, and 60 other companies will also be tracked by the markets. Watch video
Top headlines · Sensex stages smart recovery to end just 12 points down, Nifty holds 18,250 · Mindtree dips 4% on profit booking after December quarter results · Aurobindo Pharma ends 5% down on US FDA warning letter for unit · India Cements gains 4%; hits highest level since January 2008 · Budget session of Parliament to begin on Jan 31 Benchmark indices staged a smart recovery in the second half of Friday's session to end the day around the flat line. The markets, however, ended their five-day rally and closed in the red amid muted global sentiment. The BSE Sensex opened gap-down but managed to recoup losses by close of the day amid reports of an easing in wholesale inflation in December and strong exports during the month. The index fell 478 points to hit the day's low before recovering to close 12 points lower at 61,223. Its NSE counterpart Nifty50 was 2 points down at 18,256. It touched an intra-day low of 18,120. The recovery in the indices came on the back of gains in IT stocks – Infosys and TCS, which were up 1.8 per cent and 1.6 per cent, respectively. HDFC Bank, L&T, and Tech Mahindra were the other notable gainers. On the flip side, the stocks that largely weighed on the indices today included private lender HDFC, Axis Bank, ICICI Bank, HUL, Asian Paints, Bharti Airtel, Wipro, and M&M. The broader markets, however, outperformed the benchmarks. The BSE MidCap and SmallCap indices ended 0.2 and 0.5 per cent higher, respectively. Sectorally, barring IT, Realty and consumer durables, all Nifty indices ended in the negative territory, led by losses in FMCG, Pharma, Auto and Banks. The Nifty Realty index closed 1.15 per cent up, while IT and consumer durables logged gains of 0.6 and 0.2 per cent. Among stocks, shares of Mindtree were in the limelight and closed 4 per cent lower on the BSE due to profit booking on high valuations after the company reported a strong set of October-December quarter numbers both on revenue and margin fronts. Despite today's fall, the stock has outperformed the market by surging 68 per cent in the past six months, compared with a 15% rise for the Sensex. That apart, the shares of Aurobindo Pharma ended 3 per cent lower after the company said it received a warning letter from the US Food and Drug Administration for its Unit I, an active pharmaceutical ingredient manufacturing facility in Hyderabad. The shares of cement companies put up a strong show today. India Cements, for instance, rallied to touch its highest level in 14 years and closed 4 per cent higher today. On Monday, the stock of Ultratech Cement will be in focus as the cement major will announce its December quarter earnings. HDFC Bank will also be watched as the banking major will announce its results on Saturday. Lastly, the Budget session of Parliament is set to commence on January 31 and conclude on April 8. The House will be in session from January 31 to February 11 and then reassemble on March 14 to sit until April 8. Finance Minister Nirmala Sitharaman will present the Budget for 2022-23 on February 1.
Indian equity benchmarks Sensex and Nifty50 are likely to start Friday's session on a negative note tracking weakness across global markets. At 8:38 am, Singapore Exchange (SGX) Nifty futures -- an early indicator of the Nifty index -- were down 65.5 points or 0.4 percent at 18,235. IT stocks will be in focus ahead of HCL Tech's quarterly numbers due on Friday.
Global equities witnessed their first bout of selling in the calendar year 2022 yesterday, after minutes of the US Federal Reserve's last policy meeting pointed at earlier and faster rate hikes, uncovering “a more hawkish Fed than some may have expected”. That apart, over 90,000 fresh cases of Covid-19 back home also soured sentiment on Dalal Street. The frontline S&P BSE Sensex declined over 900 points intra-day but, eventually, settled 621 points lower at 59,602. The NSE Nifty, on the other hand, ended at 17,746, down 179 points. Markets had been on an upswing during the past four sessions, after consolidating during the last few months of CY2021. However, analysts expect volatility to return to the Street next week as India Inc kicks off Q3 earnings season. As many as 45 companies set to report their December quarter results in the coming week including Infosys, Wipro, TCS, Mindtree, HCL Tech, and HDFC Bank. According to Devangshu Datta, an independent market expert, the October to December period will be a “transitionary phase” for the global economy, including India, as inflation is at multi-year high, commodity prices are up, the US economy is apparently growing at a rapid pace, base effect is ebbing in India, and China is cutting down on high carbon industries. For Sandip Sabharwal, founder of asksandipsabharwal.com, high input costs may lead to a miss on earnings expectations. Sectorally, Sabharwal expects capital goods, IT, and telecom to perform well during the quarter. That said, while these factors are already priced-in, there are certain headwinds that may negatively surprise the markets and lead to earnings downgrade post Q3 earnings. Overall, the December quarter earnings may turn out to be a muted show as India Inc battles with faltering consumption, uneven economic recovery, rising input costs and subdued credit growth. Given this, management commentaries on growth outlook, rather than reported figures this quarter, will be keenly tracked by market participants. As regards today, investors should expect a range-bound movement amid lack of domestic and global triggers. Watch video
The benchmark indices on December 22 saw a gap-up opening following its global peers and closed slightly above 1 percent thereby filling the gap created between 16,840 and 16,970. The bounce got extended for the second consecutive trading session and the structure of the index appears to be in a consolidation range from 16,850 - 17,200. The lower high and lower low formation will be neglected only above 17,600 till then this can be considered as a relief rally. Prices are trading below 21-week EMA (exponential moving average) which is placed at 17,134 acting as immediate resistance and above 50-Weekly EMA which is at 16,000. On the daily Charts, momentum oscillator RSI (14) is still showing a reading below 50 and similarly ADX (Average Directional Index) which shows the strength of the trend has moved to 26 and rising with negative DMI (Directional Movement Index) moving up. Nifty has reached a good hurdle zone of 16,950. If it manages to sustain above it, then some short-covering can't be ruled out and 17,140 will be the next level for the index. The immediate support is coming near 16,850.
Top headlines · Benchmarks end near 4-month lows amid Omicron scare; Sensex tanks 1,190 pts · Realty, metals worst hit in broad-based sell-off · Oil prices fall up to 5% as demand concerns weigh · Centre bans futures trade in seven agri commodities · Singapore index steals a march over NSE in Nifty futures volumes in 2021 Frontline indices slumped to their lowest levels in 4 months as surging Omicron cases triggered tighter restrictions in Europe and threatened to be a drag on the global economy into the New Year. Besides, heavy FPI selling, dwindling rupee, concerns over slowing Chinese economic growth, and sharp sell-off in index heavyweights resulted in a bull massacre. Globally, shares dropped and oil prices fell by 5 per cent on Covid-19 concerns and tighter monetary policies by global central banks. Futures on the Dow Jones Industrial Average dropped 1.3 per cent, while those of S&P 500 and Nasdaq 100 declined up to 1.4 per cent. In Europe, the pan-European Stoxx 600 dropped 2 per cent in early trade and Japan's Nikkei led the losses in Asia with a 2.2 per cent fall. Against this backdrop, Indian benchmarks settled 2 per cent lower amid across-the-board sell-off. The S&P BSE Sensex tumbled 1,190 points to close at 55,822 and the Nifty50 ended at 16,614, down 371 points. However, the indices did stage a partial recovery during the fag end of the session to settle 1 per cent higher from the day's lows. According to Vinod Nair, head of research at Geojit Financial Services, the Indian markets are reaching the last phase of this consolidation in terms of price correction. Some pockets have become fair and long-term investors can buy high-quality stocks with a focus on defensive stocks and India-focused businesses. Yash Gupta, equity analyst at Angel Broking also believes buying on dips can be a prudent strategy with a focus on defensive bets. As regards today, BPCL ended the session as the worst performer on the Nifty index, slipping 6.5 per cent. It was followed by Tata Motors, Tata Steel, IndusInd Bank, Bajaj Finance, Coal India, SBI, ONGC, HDFC Bank, Kotak Bank and RIL. All these shares dropped between 3 per cent and 5 per cent. The broader markets underperformed the large-cap peers with the mid-cap and small-cap indices on the BSE ending over 3 per cent lower each. Among individual stocks, AU Small Finance, Oil India, Nykaa, Sona Comstar, RBL Bank, Mindtree, Policybazaar, and Spandana Sphoorty tumbled in the range of 6-10 per cent. On the upside, though, the shares of Future Group's listed companies rallied 20 per cent on the BSE after the Competition Commission of India (CCI) on Friday suspended Amazon's 2019 deal with Future Retail (FRL). Among sectors, the Nifty Realty index shed 5 per cent, PSB Index fell 4.5 per cent, and the Metal index tanked 4 per cent. All other sectoral indices were down up to 3.5 per cent. In the primary market, the three-day IPO of Surpriya Lifescience has been subscribed over 67 times so far on the final day of the issue. Meanwhile in another development, the Securities and Exchange Board of India (SEBI) has barred exchanges from launching new futures contracts in paddy (non-basmati rice), wheat, chana, mustard seeds and its derivatives, soybean and its derivatives, crude palm oil, and moong, for one year. The order, which will come into immediate effect, is meant to check rising prices of some of these commodities, mainly oilseed complexes and pulses.
Our guest today is Ezhilarasan ‘Ez' Natarajan, founder and CEO of CoreStack, which helps enterprise customers find the best way into the cloud. Prior to CoreStack, he held leadership, strategy and business ownership roles at Capgemini Group and Mindtree. He has been part of the Microsoft Azure Business group building Public Azure services for the world, in China and Australia
In this Intel Conversations in the Cloud audio podcast: S. Venkat from MindTree joins host Jake Smith to talk about digital customer service, specifically the company's MindTree Cognitive Contact Center, which combines existing call center infrastructure with new technology. The two discuss how MindTree worked with the Intel Distribution of Python along with SigOpt (a […]
In this Intel Conversations in the Cloud audio podcast: S. Venkat from MindTree joins host Jake Smith to talk about digital customer service, specifically the company's MindTree Cognitive Contact Center, which combines existing call center infrastructure with new technology. The two discuss how MindTree worked with the Intel Distribution of Python along with SigOpt (a […]
While waiting for the Season 2, please enjoy these greatest hits from Season 1Saurabh Atre is the Chief Business Officer at L&T Technology Services Limited (LTTS) Some of his top insights for B2B sales professionals :- 'You never really lose a deal, you always get outsold '- Having empathy is the key...... every sales person should have empathy.- The importance of having a coach during a deal and how to develop one.- We learn from every deal loss - don't miss out on the steps .... stick to the fundamentals.- Bringing design thinking principles to sales - Avoid 'Balti Ulta' phenomenon (you have to listen to the episode for this)- How to keep a distributed sales team motivated & performing at the highest level.....and many more great points around selling into enterprises. He also referred to his favorite books - 'Only the Paranoid Survive' by Andy Grove and 'Great By Choice' by Jim Collins.Saurabh is hiring for multiple sales roles (Individual contributors and Sales Management) , if you are interested please write to zia@sellingtoenterprises.comSaurabh has previously held sales & business leadership positions with Tata Consultancy Services, Tech Mahindra, MindTree & Wipro Technologies.Please give it a listen and please share your feedback at zia@sellingtoenterprises.com
HighlightsSAP for 20 years, started out in Basis administrationWorked at SAP Labs in Palo Alto, on how to deploy SAP in AWS (so cool)Became a devops lover — but ecosystem wasn't ready. Jumped into big data instead at Mindtree, then worked with Hadoop, VoraOperations are 3 buckets: build, run, changeSystem administrators have been somewhat underserved by UI/UX revolutions in SAP. There are hundreds of “Manage [X] Orders” Fiori apps, but no Basis apps.Disk space and start/stop are low-hanging fruit in the administrative automation spaceIf you follow Chris on Twitter, you'll quickly find about a hundred pics of him grinning at the camera for a selfie.The most mistakes happen in ops in: teams don't have a good handle on what they're supposed to actually do. Their purview. (If it's not functional or code, it's Basis).Currently playing with Kubernetes as development system units of buildWhat should the future look like? “There isn't one ring to rule them all.” There should be an API/set of web services that programmatically control SAP systems at the system level. From there, you can create and extend whatever you choose — then RunDeck can be used to configure a system. Prometheus can pull directly from the system.Money QuotesChrisI'm having a great time, basically playing with lots of things — anything that takes my interest as long as it has an automation focus to it.Not everything should be automated, but you have to go through that discovery process!It's about quality and consistency, not about speed.The bit that's getting really interesting is: how do we now layer in BTP?PaulYou're building a thing that builds things, you're making a factory factory!
Saurabh Atre is the Chief Business Officer at L&T Technology Services Limited (LTTS) Some of his top insights for B2B sales professionals :- 'You never really lose a deal, you always get outsold '- Having empathy is the key...... every sales person should have empathy.- The importance of having a coach during a deal and how to develop one.- We learn from every deal loss - don't miss out on the steps .... stick to the fundamentals.- Bringing design thinking principles to sales - Avoid 'Balti Ulta' phenomenon (you have to listen to the episode for this)- How to keep a distributed sales team motivated & performing at the highest level.....and many more great points around selling into enterprises. He also referred to his favorite books - 'Only the Paranoid Survive' by Andy Grove and 'Great By Choice' by Jim Collins.Saurabh is hiring for multiple sales roles (Individual contributors and Sales Management) , if you are interested please write to zia@sellingtoenterprises.comSaurabh has previously held sales & business leadership positions with Tata Consultancy Services, Tech Mahindra, MindTree & Wipro Technologies.Please give it a listen and please share your feedback at zia@sellingtoenterprises.com
Tauseef Muhammad, Head of Global Marketing and Demand Generation at Mindtree explores how a degree in engineering led to a career in marketing. He also delves into the importance of explaining the “Whys” of a product, as well as how Mindtree overcame the challenges that have come with cancelled live events. Ajay is in a good mood and Vincent gets a new apartment.
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