New tech vertical will focus on product engineering, says CP Gurnani

2021-07-30 00:43:51

With 5G deals picking up and a strong order pipeline, Tech Mahindra expects first-quarter growth momentum to sustain through the year. Chief executive CP Gurnani told ET’s Priyanka Sangani & Raghu Krishnan that the Pune-based IT services provider expects technology – carved out into a separate vertical – to be a significant growth driver going forward. Edited excerpts:

What is the growth perspective across telecom, technology and traditional


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Microsoft finalises strategic investment in Oyo at $9 billion valuation

2021-07-30 00:28:16

Microsoft has finalised a strategic investment for an undisclosed amount in SoftBank-backed Oyo Hotels & Homes, valuing the hospitality company around $9 billion, industry sources familiar with the matter told ET. Investment bankers said Oyo could be looking at adding more marquee strategic investors ahead of its initial public offering (IPO), which would follow
last week’s bumper local listing by food services platform Zomato.

Sources told ET that the global technology major will initially buy a small stake

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Vodafone Idea cautions customers against online, KYC frauds

2021-07-29 23:06:11

Telecom operator (VIL) on Thursday cautioned customers against online and KYC frauds, after it noted that some subscribers were getting calls and messages from unidentified numbers seeking updation of KYC details.

The company warned that clicking on any unverified link or sharing any details could lead to data and information theft from the mobile device, and result in other serious consequences.

“It has been brought to our notice that some Vi customers are getting SMS and

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Toyota raises price of flagship Crysta

2021-07-29 22:35:44

Toyota Kirloskar Motor on Thursday announced a price increase up to 2% of its flagship product Toyota Innova Crysta effective August 1.

“This increase is necessitated to partially offset the substantial increase in input costs. The price increase has been tapered down considering the impact on our valued customers,” the Bengaluru-headquartered automaker said in a statement.

“As a customer-centric company, we remain committed to cater to the ever-evolving needs and requirements of our customers by consciously minimizing the

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Robinhood makes its $32 billion debut on Wall Street

2021-07-29 22:27:42

Robinhood made its own leap into the stock market Thursday, the one it helped reshape by bringing millions of new investors to Wall Street, and shares flipped between modest gains and losses in the first few minutes of its trading.

It was at $36.61 shortly after 12:30 p.m. Eastern, down its initial $38, the low end of its expected range. The company has grown explosively since its 2013 founding after it did away with trading fees and made

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Prime members shopped from 1.26 lakh sellers in Prime Day sale: Amazon India

2021-07-29 21:43:45

Amazon India on Thursday said its Prime members shopped from 126,003 sellers including artisans, weavers and women entrepreneurs during the lead up and during Prime Day sale. About 31,230 sellers saw their highest-ever single day sales, and nearly 25 per cent more sellers’ grossed sales over Rs 1 crore as compared to the last Prime Day, Amazon India said in a statement.

“We dedicated this Prime Day to small and medium businesses (SMBs) and local stores and

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88,236 govt-funded vacant houses available to be converted into Affordable Rental Housing Complexes : Housing Ministry

2021-07-29 21:43:14

About 88,236 existing government funded vacant houses are available to be converted into Affordable Rental Housing Complexes (ARHCs) for rental accommodation to migrants under Model-1 of ARHC scheme, according to Ministry of Housing & Urban Affairs.

However, no vacant houses are available in Telangana for rental accommodation to migrants under Model-1.

According to the ministry, aims and objectives of Affordable Rental Housing Complexes (ARHC) Scheme announced under Atmanirbhar Bharat Package are to address the vision of ‘

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DCM Shriram bets on value-added businesses to fund future growth

2021-07-29 21:36:24

is betting on newer value-added businesses, such as specialty chemicals and other downstream segments, to drive growth in a chemicals market where several pockets have been commoditized, crimping profits and underscoring the need to differentiate for building sustainable competitive advantage.

The company has already invested in capacities to make Epichlorohydrin and Hydrogen Peroxide. Although not specialty chemicals, these are value-added products for its core chemicals business. It will soon also manufacture epoxy. It is also investing

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Access providers have taken action against unregistered telemarketers via warning notices, disconnection: Minister

2021-07-29 21:32:56

Taking action against unregistered telemarketers, access providers have issued warning notices for first instance of violation in over 2,27,000 cases, and disconnected more than 21,700 lines on flouting norms for the third time, as per data between September 2019 and March 2021, Parliament was informed on Thursday.

As per the Telecom Commercial Communications Customer Preference Regulation (TCCCPR) 2018, the access providers are registering complaints and taking action against defaulters in accordance to the provisions of the rules, Minister

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Govt issues press note allowing 100% FDI in oil PSUs with ‘in-principle’ nod for strategic divestment

2021-07-29 21:01:45

The government on Thursday allowed 100% foreign direct investment (FDI) under the automatic route for oil refiners in case an ‘in-principle’ approval for strategic disinvestment of a Public Sector Undertaking has been granted by it.

The Union Cabinet last week approved a proposal to allow 100% FDI for public sector oil refiners thereby expanding the scope for foreign investment in the privatisation of Bharat Petroleum Corporation Ltd.

The Department for Promotion of Industry and Internal Trade

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Unacademy to issue $40 million in stock options to teachers over next few years

2021-07-29 20:56:08

Ed-tech company Unacademy will offer stock options to educators on its platform, cofounder and chief executive Gaurav Munjal said.

Typically, stock options or Employee Stock Ownership Plans (Esops) are reserved for permanent employees and are used as a tool to attract talent at fledgling startups and big technology firms.

This is the first time that an education technology firm is issuing ‘Teachers Stock Options’ (TSOPs) – as Munjal called it in his video message

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Customer-focus and digital-first are the keys to survival and growth: Uday Kotak

2021-07-29 20:44:42

Even the Covid-19 pandemic leads to everlasting changes in the financial services sector, the Indian industry needs to stop kicking the can down the road and focus on sustainable growth, Uday Kotak the chief of said in his annual address to shareholders. Kotak also said with the winds of change growing, banks need to remain future relevant.

“The industry also needs to stop postponing the inevitable and kicking the can down the road,” Kotak said. “Upfront action with

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Covishield single-dose efficacy drops after 16 weeks in those above 60 years of age: Sri Lankan research

2021-07-29 20:39:12

The efficacy of the single dose of Oxford-AstraZeneca COVID-19 vaccine Covishield dropped at 16 weeks for those above the age of 60, while 93 per cent of the younger population showed very good responses during the same duration, a university research in Colombo has shown. The vaccine is produced by University of Oxford and British-Swedish multinational pharmaceutical and biotechnology company AstraZeneca. Serum Institute of India (SII), the world’s largest vaccine manufacturer, has entered into a collaboration with the
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Flipkart launches first ‘Ekartians with Disabilities’ delivery hub

2021-07-29 20:21:27

Walmart-owned Flipkart on Thursday said it has added a new delivery hub in Delhi to its supply chain network that will be managed end-to-end by 50 employees with disabilities, working in various capacities. The move is part of Flipkart’s efforts of creating a diverse and inclusive workplace and supply chain.

“Flipkart has added a new delivery hub in New Delhi to its supply chain network, which will be managed end-to-end by 50 employees with disabilities, working in various

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Airtel, Tata Communications, RCom, Railtel among 34 firms found violating internet services licence rules: Govt

2021-07-29 19:39:47

The government has found 34 companies violating internet services licence norms, including Bharti Airtel, Tata Communications, Railtel Corp, Infrastructure, SwissFone India and Sify Technologies, Parliament was informed on Thursday.

The list of violators shared by Minister of State for Telecom Devusinh Chauhan includes C-DAC Noida, Icenet.net, Kappa Internet Services, Noida Software Technology Park and World Gate Network.

“Companies are granted license under Section 4 of the Indian Telegraph Act, 1885 to provide Internet Services. A list of

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Alliance Advertising picks up broadcast rights of Sri Lanka Cricket for UK region

2021-07-29 19:36:37

Delhi-headquartered Alliance Advertising has acquired the broadcasting rights of Sri Lanka Cricket (SLC) for the UK region for three years.

During the contract period, Sri Lanka is slated to host nine series, including a couple of tours from India and Pakistan staring with the on-going India’s tour.

South Africa and Australia are the other top teams that will tour the nation for a series each during the contractual period.

“We are committed to the growth of cricket not

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Loans, taxis, education: what’s next in China’s tech crackdown?

2021-07-29 19:20:12

We are all too familiar with how power is claimed and retained in a multi-party democracy. But how does one retain power and legitimacy in a single-party system? For starters, you can purge your enemies after coming to power. Then you can amend the Constitution to abolish term limits. You can also announce the end of poverty. What next? What do people who will soon be moderately prosperous want from life? This is the Chinese Communist Party’s dilemma
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Airtel loses 46.1 lakh mobile subscribers in May, Jio adds 35.5 lakh users: Trai data

2021-07-29 19:19:50

The Indian telecom market presented a picture of sharp contrast in May with losing a staggering 46.13 lakh wireless subscribers even as rival Reliance Jio added 35.54 lakh mobile users, according to data from telecom regulator Trai. Overall, the Indian mobile market shed 62.7 lakh users in May.

Jio added 35.54 lakh mobile users during the month, raising its subscriber base to 43.12 crore.

Both Airtel and

suffered massive subscriber losses in May.

Airtel lost 46.13 lakh

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Coal supply to power plants dipped in past 3 years; declined more in FY21 due to COVID: Power Minister

2021-07-29 19:16:46

Coal supply to power plants dipped during the last three years, but declined more in 2020-21 due to the COVID-19 pandemic, Parliament was informed on Thursday.

Coal supplies to power plants stood at 643.7 million tonnes in 2018-19, 638.7 million tonnes in 2019-20 and 596.3 million tonnes in 2020-21.

It was 171.7 million tonnes during April to June in 2021.

“The receipt of coal has registered a slight decline during the last three years. However, during 2020-21 the

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India for implementation of default security features in ORAN telecom networks

2021-07-29 19:04:44

India is in favour of implementing default security features in the open radio access network for telecom services at the earliest, a senior government official has said. The official was speaking at a virtual summit organised by Assocham along with Open RAN Policy Coalition, US Chamber of Commerce, Keidanren-Japan Business Federation and BSA – The Software Alliance. The QUAD member countries – the US, India, Japan and Australia – also participated in the event.

All the members

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