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Infosys McCamish Systems, the IT giant’s US arm, is a source of drama as another class action lawsuit lands on their doorstep.
That’s lawsuit number four since the November 2023 data breach that exposed a whopping 6.5 million people’s personal information.
Will this be the final chapter, or is there more trouble brewing for Infosys?
Also Read: TCS & Infosys: The IT War Explained
Forget iPhones, is Foxconn setting up an iPad factory in India? Apple's main assembler is reportedly considering a 1 billion yuan ($137.5 million) HQ in China focused on "core technology research".
Foxconn’s similar expansion to India might be directed in the same direction.
Is India getting cheaper iPads or is this a global tech turf war in the making?
The billionaire mastermind behind Tesla and X (formerly Twitter) is at it again. Musk has thrown a $5 billion curveball, asking his loyal X followers if Tesla should invest in his AI startup, xAI.
A whopping two-thirds said "yes." Given Tesla's recent profit slump, this move seems as likely as a self-driving car navigating a crowded mall.
After blaming competitors' dependence on AI, is this hypocrisy from Musk's end?
Fintech firm Cred is aiming to be your one-stop money shop. The company, known for rewarding good credit, is launching 'Cred Money'.
This would be a platform to manage all bank accounts in one place.
Here’s the million-dollar question: Will this new move turn Cred into a full-fledged digital bank?
India's budget is a sugar rush for the economy, aiming to pump up consumption and keep the growth party going.
With a hefty focus on jobs, skills, and infrastructure, the plan is to create a ripple effect that boosts spending across the board. Inflation's been staying low and steady at around 4%, while the economy has been on a growth streak above 7% since 2021, hitting an estimated 8.2% this year.
Will this spending spree translate to more money in people’s pockets? After all, consumption and GDP are usually BFFs.
Capex Budget: ₹1.1 Lakh Crore
Fiscal Deficit: 4.9% of GDP
Standard Deduction Increased From From ₹50,000 to ₹75,000.
Income Tax Slabs Changed For New tax Regime:
Central Government's Focuses on the following 9 priorities:
In a steamy plot twist, Amazon just eyed a portion of Swiggy's Instamart service right before Swiggy's $1.25 billion IPO (₹10,375 crore).
As per inside reports, Amazon is planning to pick up a stake or a buyout proposal in the pre-IPO placement.
With no official offer on the table yet, the heat is on for Amazon to act fast. Will this be a match made in delivery heaven or a kitchen nightmare?
Reliance Industries took a tumble on Monday, with its stock price dropping 3% after missing profit expectations.
Analysts are divided: Jefferies chilled their target price by a bit to ₹3,525, but Nuvama gambled big with a whopping ₹3,786 target.
So, is this a buying opportunity or a sign RIL's empire is built on shaky ground? Only time, and the next quarter's results, will tell.
Also Read: Reliance Jio is Planning on Bringing an IPO: An Analysis
A single software update from cybersecurity giant CrowdStrike sent the world into a digital tailspin. Flights grounded, banks locked down and many more disruptions.
The $83 billion (₹6.8 lakh crore) worth CrowdStrike has 20,000 subscribers including Microsoft & Amazon. A defect in Windows caused the havoc around the globe.
So, is this a glitch in the matrix, or a sign we've built our house of cards on a server in the cloud?
Infosys stock is soaring rapidly after smashing profit expectations and upping their growth guidance from 3-4%.
Infosys’ net profit rose 7.1% on-year to ₹6,368 crore with analysts predicting 1-3% revenue growth for FY25.
The surprise revenue hike has analysts scrambling to adjust their targets, leaving one question: is this a long-term trend or a temporary blip in the matrix?
Also read: Infosys Vs TCS: Who is the Better One?
Paytm's loss seems to be increasing rapidly to ₹839 crore and revenue dipped 36% to ₹1,502 crore vs ₹2,342 crore.
But wait, there's more! To add some intrigue, Paytm is revamping their health insurance plan to cover everyday needs.
Is this a genius pivot or a desperate attempt to stay afloat?
Remember the Snapdeal founders who gambled a measly ₹57 lakh on a startup back in 2015? Founders Kunal Bahl (Snapdeal) and Rohit Bansal (Titan Capital) just cashed out of Urban Company with an astounding ₹111 crore - a nearly 200-times return!
They sold their stake in Urban Company to Vy Capital’s Dharana Capital.
Did they have a crystal ball, or is there more to this comfy home service platform than meets the eye?
IDBI Bank is on the auction block, and the RBI just gave the thumbs up to potential buyers. The government hopes to rake in ₹29,000 crore through divesting its stake in IDBI Bank after waiting since May 2021.
LIC (49.28%) and government (45.48%) jointly own 94.72% of IDBI Bank. Some experts believe that the deal is a bit on the soft side for the central government.
With a tight-lipped foreign bidder still in the mix, will this privatisation be a dream deal or a financial flop?
Also Read: LIC is entering health insurance. Is it time to change policies?
Ola Electric, the EV company known for its EV scooters, is going public at a discounted rate of around $4 billion (₹33,200 crore).
This amount is 25% lower than what the startup was worth in the last funding round. Bhavish Aggarwal planned to raise ₹5,500 crore through the public offering.
Is this a strategic move or a sign of slowing growth? #KnowItAll with this article.
The RBI is cracking down on lax KYC (Know Your Customer) practices in the fintech sector. Apparently, some digital lenders and payment companies have been a bit too casual about verifying users.
Now, the central bank is demanding a stricter approach, including mandatory video KYC.
This means that just like us common folks, fintech startups should also forget skipping the line for usual safety checks.
Also Read: Why wealthtech is the secret weapon for modern investors?
Zee Entertainment just got a thumbs up from shareholders to raise ₹2,000 crore. The funding will be done via one or more tranches through private investors.
Although a clear plan for fund usage is not revealed, some amount will be utilised for business expansion.
Will Zee Entertainment finally be able to redeem its reputation after the breakup with Sony India?
Swiggy, the food delivery giant, is showering its employees with its biggest ever stock option cash-out program - a cool $65 million (₹539.5 crore)!
Over 3,200 lucky employees across the company get to sell a slice of their stock holdings.
Is this a genius move to keep pre-IPO morale high, or is there something else cooking in Swiggy's kitchen?
#KnowItAll by reading this article.
Swiggy, the food delivery giant, is showering its employees with its biggest ever stock option cash-out program - a cool $65 million (₹539.5 crore)!
Over 3,200 lucky employees across the company get to sell a slice of their stock holdings.
Is this a genius move to keep pre-IPO morale high, or is there something else cooking in Swiggy's kitchen?
#KnowItAll by reading this article.
Bengaluru's latest ride-hailing app, Namma Yatri, just raised $11 million (₹91.3 crore) with Google on board! The investing round was led by Blume Ventures and Antler and the startup’s parent company, Moving Tech, plans to use funds for technology, R&D and boosting driver earnings.
They started with zero commission rides for drivers, then switched to subscriptions. Now they're offering cabs to compete with the big boys.
Is it trying to be everything to everyone, or a cunning underdog about to disrupt the game?
After a hot streak, investment in Indian AI startups plunged a staggering 91% to $8.2 million (₹68.06 crore) in Q2.
This data for equity funding of AI infrastructure and AI-as-a-service tech startups have seen ups and downs throughout the quarter.
Is this a sign of the apocalypse (hopefully not for the robots), or just a case of investor jitters?
Mutual fund managers are shifting gears, steering their bets away from public sector giants and towards flashier sectors like autos and IT.
HDFC Bank is leading the pack, but are they chasing growth or just the next big IPO?
One thing's for sure, this portfolio shuffle has left public sector companies feeling a bit deflated.
Tata Group is adamant in keeping controls of Air India post its merger with Vistara. All the familiar faces, including CEO Campbell Wilson, are likely to stay put.
But here's the twist: Vistara's CEO, on loan from Singapore Airlines, is apparently heading back to HQ.
So, is this a smooth handover or a sign of potential future bumps in the air?
Also Read: Will Vistara Take Off or Stall After Merging With Air India?
Invesco, a major investor in both Swiggy and Pine Labs, just slashed their price tags.
Swiggy’s valuation dropped to $12.3 billion (₹1.02 lakh crore) from $12.7 billion and Pine Labs went down from $3.8 billion (₹31,450 lakh crore) to $3.5 billion.
Did these Indian unicorns stumble, or is Invesco having a fire sale?
Also Read: Swiggy's IPO is coming soon. Is it worth it?
TCS's profit grew 8.7% Y-o-Y to ₹12,040 crore, revenue climbed 5.4% to ₹62,613 crore, new deals worth $8.3 billion (₹68,890 lakh crore) rolled in, and the employee count finally stopped shrinking.
But the profit margin shrinks to 24.7% despite a raise-fueled spending spree.
Did the wage hikes eat into their bottom line, or is there more to the story?
Also Read: Tata Group is Bringing around 8 IPOs. #KnowItAll from this link.
Goldman Sachs is going all out on a hot new SaaS startup! The Wall Street giant is cozying up to Indian SaaS company MoEngage with a potential $35-50 million (around ₹415 crore) investment.
MoEngage has gathered around $182 million (about ₹1,510 crore) funding since its inception. However, Goldman is buying shares on the down-low from early investors.
So, is MoEngage worth investing in or is there something fishing that led to Goldman Sachs low move for startup’s valuation.
Tata 1mg is on a roll! It’s online medicine sales are up 21% to ₹1,968 crore for FY24, and losses are way down to ₹313 crore from ₹1,255 crore.
The positive financials for the year 2023-24 also boosted Tata 1mg’s market share in the online medicine sector.
Is this the recipe for a healthy IPO, or are they just taking their vitamins and chilling for a while?
Is a price hike on your data plan a sign of things to come for Reliance Jio? While Mukesh Ambani remains tight-lipped, whispers of a blockbuster IPO are swirling.
Jefferies, a global investment firm predicts a 2025 listing with a hefty $112 billion (around ₹9.29 lakh crore) valuation.
So, is this strategic preparation for a grand entrance on the stock market and would it be interesting for you?
Stay in tune for the answer with Finology Insider.
Battle between giants PhonePe and Google Pay is snagging a hefty 86% slice of the UPI pie. While this duopoly raises eyebrows at the NPCI, Amazon Pay India’s CEO, Vikas Bansal, is singing a different tune.
He insists it’s not just about grabbing market share but nurturing new payment innovations. From UPI wallets to credit lines, Bansal stresses on broadening the payments landscape.
Amidst all this, one wonders: is the future of digital payments a monopoly match or a diverse ecosystem waiting to blossom?
Also Read: Google Play Store's new rival is arising. Who is it?
Cognizant greenlit a hefty ₹4.1 crore payment to settle a legal issue involving their CFO, Jatin Dalal, and his former employer Wipro.
The sum covers not only Dalal’s settlement with Wipro but also his towering legal fees.
The saga began when Wipro, feeling the sting of Dalal's defection to Cognizant, alleged breaches in his contract, sparking a courtroom clash.
What drove this top executive to jump ship after two decades at Wipro? Was it just a career move or something more strategic?
Forget Flipkart vs Amazon, the government's got a new e-commerce contender: ONDC. This public network just hit 10 million transactions in June, with a 6.1 million non-mobility transactions and 3.9 million mobility transactions.
Meaning, the platform sells more couch cushions and groceries than cabs and rides.
One thing's for sure, ONDC's not just shopping, they're testing loans and even passive funds.
Also Read: Will ONDC Kill Amazon & Flipkart?
The Delhi HC just cracked down on social media platforms (Whatsapp, Meta, Telegram) and banks (NPCI).
The High Court ordered them to freeze accounts mimicking Razorpay to commit fraud. The rising danger of digital scams led to the decision.
Looks like some online impersonators are getting razor-sharp justice!
Banks are building super apps for merchants loaded with features and aiming to steal the crown from payment giants like PhonePe.
HDFC Bank, Axis Bank, and Yes Bank have built apps like Smarthub Vyapar, Axis Neo, and Yes Biz. Through these one-stop-shop apps for businesses, banks plan on offering everything from payments to (potentially) insurance and credit through these apps.
Will these banking titans be able to defeat the major players of the sector?
Pepperfry, the furniture retailer known for its comfy couches, has hit pause on going public. That’s right, now IPO ($250-300 million) for now.
Ditching the stock market spotlight for now, they're focusing on good old fashioned growth and profitability.
So, is this a strategic shift or a sign that the furniture market is about as firm as a beanbag chair?
Xiaomi is giving you a peek at their super sleek electric car, the SU7, but with a twist... they might not be selling it here!
This powerful ride boasts a range of up to 800km on a single charge and a price tag that undercuts Tesla.
So is this just a glimpse of the future, or is Xiaomi ready to conquer Indian roads?
Zomato's experiment with hyperlocal deliveries went from "Xtreme" to "extinct." Launched with much fanfare, the service has been shut down due to a lack of takers.
But fret not, foodies! Zomato is reviving its intercity food deliveries helping consumers satisfy those regional cravings from afar.
So, what went wrong with regular stuff delivery?
Also Read: Zomato Enters the Movie Tickert Business
Hitching a ride to the stock market, travel platform Ixigo zoomed past expectations with its first quarterly earnings!
Profit soared over 50% and annual revenue jumped 31%, however growth slowed in the last quarter.
Were they cutting corners to win passengers, or is this just a bump in the runway?
Also Read: What does Ixigo's IPO Mean for the Airline Industry?
Foxconn Chairman Young Liu just received a prestigious Indian award, the Padma Bhushan, for boosting the country's economy.
Liu plans to visit India this year and may announce the future outlook for iPhone makers.
But hold on, isn't Foxconn facing discrimination allegations back home?
Let's see how his visit to India this year unfolds.
Infosys and LTIMindtree are jostling for the lead, while TCS and HCLTech, the usual winners, might stumble.
Is this a changing of the guard or a temporary blip?
The answer might be revealed on July 11th when TCS announces its results. Will the tech titans reignite growth? Stay tuned!
Policybazaar and Paisabazaar's party just got a whole lot more interesting! Big investment firms like Capital Group, T Rowe Price, Fidelity and Vanguard are all grabbing stakes in the fintech giant.
Founders are cashing out, early investors are saying goodbye... is this a sign of a buying frenzy or something more?
One thing's for sure, Policybazaar's next chapter is about to be a blockbuster!
Is Vodafone clearing Vi's dues with pocket change? The UK telecom giant may be considering selling off its remaining stake in Indus Towers to its Indian rival, Bharti Airtel.
This fire sale could infuse ₹2,000 crore into Vodafone Idea, but will it be enough to plug the massive debt hole?
Analysts are sniffing around a potential debt binge by Vi too. One thing's for sure, this Indian telco's drama is far from over.
Also Read: Could Vi Finally Join 5G Services as Jio & Airtel?
The plot thickens in the Adani-Hindenburg drama! The short-seller claims India's market watchdog SEBI is giving them a hard time about their bets on Adani stocks.
But here's the real cliffhanger: is it just Adani they're protecting, or is there another powerful Indian businessman (Kotak) hiding in the shadows?
Looks like someone's afraid of a little scrutiny!
Also Read: Why did RBI Bars Kotak Mahindra Bank?
Looks like Vodafone Idea (Vi) might be losing its grip on its 2G users. While their bigger competitors Jio and Airtel are keeping cheap plans affordable, Vi just went ahead and raised theirs.
With a whopping 40% of Vi's base on these 2G plans, will they be tempted to switch ships?
Is Vi about to lose a big chunk of its subscribers?
Also Read: Could Vi Finally Join Jio & Airtel as a 5G Service Provider?
Looks like Zomato might have to spice up their accounting. The delivery giant just got hit with a surprise tax bill of ₹9.5 crore.
Food delivery giant received the notice from Karnataka's commercial taxes authority. Zomato plans to file an appeal against the notice.
Did someone forget to tip the taxman? Will Zomato’s fight for a lower tab be a recipe for success?
Also Read: Zomato Enter Online Ticket Booking Business
Craving victory? You weren't the only one! India's cricket win over South Africa on 29 June wasn't just historic, it was a goldmine for food and beverage companies.
Restaurants and quick commerce deliveries saw a massive surge in sales during the match, with some even breaking records!
Did celebrating with friends and family lead to a spending spree, or was it something else entirely?
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