Tech Sector

Tirunelveli powers India's solar ambitions with a new facility by Tata

With a capacity of 4.3 gigawatt (Gw) each for cells and modules, the plant is designed with many open spaces available for future expansion

Indian tech sector saw deals worth $635 mn in Sep quarter: Grant Thorton

Indian Tech sector witnessed deals worth USD 635 million in July-September period of 2024, registering a 31 per cent increase in value year-on-year, a recent report has revealed. Consultancy firm Grant Thorton Bharat's Q3 Dealtracker report for the tech sector said the quarter witnessed the highest deal volumes since Q2 2023 but the lowest for the year 2024, reflecting more strategic investments rather than large-scale acquisitions. Grant Thornton Bharat Partner Raja Lahiri said the recent interest rate cut by the US Fed, coupled with India's post-election stability, has infused new momentum into the deal landscape, with notable value and volume growth. "With the elections behind in India, we saw an increase in deal activity both in terms of volume and value compared to the previous quarter. "Q3 2024 witnessed 79 deals valued at USD 635 million, representing a 5 per cent increase in volumes and a 31 per cent increase in values," he said. Out of the total deals, 12 were valued at a

PM Narendra Modi to attend Quad summit in US on September 21: MEA

Modi to address UN General Assembly, meet with tech CEOs

Tech, new hires drive evolving HR trends, says industry executives

This has been accentuated by the need for culture assimilation for the large size of hiring undertaken during the pandemic, say HR executives at the Business Standard's BSmart HR Conclave

Inventurus Knowledge Solutions files draft papers for IPO, seeks Sebi's nod

Inventurus Knowledge Solutions Ltd, which provides healthcare support services, has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO). The company's IPO is entirely an Offer For Sale (OFS) of up to 2.82 crore equity shares by promoters and individual shareholders, with no fresh issue component, according to the Draft Red Herring Prospectus (DRHP). Since the issue is completely an OFS, the company will not receive any proceeds from the IPO and the entire fund will go to shareholders. The company, which is backed by Rekha Jhunjhunwala and RARE Enterprises, in its draft papers filed on Monday, said that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges. Additionally, the company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity to its shareholders, and establish a public market for the equity ...

Microsoft's Azure posts slowdown in growth, testing investors' patience

The company's Xbox video-gaming unit posted 61 per cent growth in content and services revenue, much of that fueled by the $69 billion purchase of Activision Blizzard, which was completed in October

Tech Mahindra Q1 results: Net profit up 23% on cost action; still a miss

The company's revenue beat Bloomberg estimates, but missed on the net profit level

India's tech sector needs 1 mn high-tech engineers as economy expands

India's $250 billion tech sector plays an important role in the economy, employing about 5.4 million people

Microsoft announces 3rd round of layoffs as tech sector continues to bleed

Number of job cuts in tech sector has crossed 100,000 with major companies like Google and Toshiba also handing out pink slips

Budget 2024: Nasscom seeks lighter taxation environment for tech industry

Industry association wants levels for safe harbour provisions raised to enable greater participation

India to clock highest growth in tech spending in 2024 in APAC: Report

Tech economy 'enjoys strong growth' due to digitisation push by central and state governments, it says

Ready to fund up to 50% of AI compute infra: Meity secy S Krishnan

In order to speed up the entire process, the idea is to partner with a variety of private institutions so that we are able to work with the private sector in making this capacity available quickly

India to have 200 new GCCs by 2025; growth to help office space: JLL

GCCs are offshore centres that handle a variety of operations like tech, customer service, finance and product development, among other things to support the parent company

Lam Research plans semiconductor fabrication supply chain in India

Lam Research Corporation on Wednesday announced its plans to expand its global semiconductor fabrication equipment supply chain to include India. The company said it is assessing capabilities across various supply chain segments and is exploring India-based suppliers who can collaborate to fulfil the need for precision components, custom parts, high purity gas delivery systems and other assemblies that go into cutting-edge semiconductor wafer fabrication equipment. The global semiconductor industry is expected to grow to 1 US dollar trillion in annual revenue by the end of this decade, according to experts," the NASDAQ-listed global semiconductor manufacturing equipment maker said in a statement. As demand for semiconductors increases, there is an even greater need for collaboration and global engagement of expertise, intellectual property, materials, and talent, it said, adding, Lam has been operating in India for more than 20 years, benefiting from its prime location close to ...

Netweb Tech locks in 5% upper circuit after profit shoots up 181% in Q4

This came after the company delivered a strong show in its January-March quarter results of financial year 2023-24 (Q4FY24) on Wednesday

Investors may have a higher focus on deeptech, Gen AI, climate tech in 2024

The report focuses on investment activity across seed and pre-Series A stages, by analysing market information, along with a survey conducted with 22 leading institutional early-stage investors

AI inside: Tech simplifies and automates routine work for IT firms

AI can be used in a variety of functions: From HR management to sales and coding. Senior executives say companies must continuously train employees in the technology and keep them skilled

To fund artificial intelligence boom, technology plans plumbing upgrade

The money being thrown at technology to support artificial intelligence is also a reminder of spending patterns of the dot-com boom of the 1990s

Google carries out fresh round of layoffs in an attempt to cut costs

The layoffs come during a period of sluggish hiring across the tech sector

31% of women in tech considering quitting their jobs, shows survey

Poor management, lack of training and want for better compensation are the main reasons they want to leave their organisations