Digital Financial News

Ashok Soota, promoter and executive chairman of Happiest Minds Technologies Limited, sold about 16.93 lakh equity shares of the company, (1.11% of his holding) on Thursday, the company said in a statement. This statement came after the company's share prices dipped over 4%, at the BSE to Rs 872, during the day following the sale. Soota's holding in the company which was 51.24% now stands at 50.13%.

Plenty of companies are experimenting with the technology, called generative AI, but they are worried about how confidential data will be handled, the accuracy of AI-generated answers and potential legal liability.

₹174 crore with a clear path to further acquire another 41% stake in the next 15 months at pre-agreed multiples. The transaction is an all-cash deal. This acquisition will further strengthen Saregama’s strategic ambition to take the leadership position in new music across all Indian languages, the statement added.

ALSO READ: Wipro appoints Aparna Iyer as new CFO as Jatin Dalal resigns Top Indian IT firm Tata Consultancy Services CEO Rajesh Gopinathan quit in March, while Tech Mahindra named Infosys veteran Mohit Joshi as its CEO and managing director, set to join in December. Dalal spent over two decades at Wipro, where he joined as a manager at its treasury operations and most recently held the position of president and CFO.

Continental Device India Private Limited (CDIL) became the nation's first to manufacture silicon carbide devices with the establishment of their Surface Mount Semiconductor Packaging Line with an investment of around Rs.30 crore at their Mohali plant on Thursday. The expansion of assembly lines will increase CDIL’s total capacity at the facility to 600 million units annually. With the anticipated surge in electric vehicles (EVs), power management devices and solar-powered panels, globally as well as in India, and their increased reliance on wide band gap electronics, CDIL said it has identified and laid focus on Silicon Carbide (SiC) products.

TCS) retained its top position as India's most valuable brand for the second consecutive year with a brand value of $43 billion, capitalising on the global demand for digital transformation, despite a tough year for the business technology segment in general. In the BrandZ study, conducted by WPP and Kantar, HDFC, Infosys and Airtel ranked second, third and fourth, retaining their positions from last year, while State Bank of India rose one place to enter the top five.

Epic Games is laying off about 900 employees, or 16% of its staff, Bloomberg News reported on Thursday. The job cuts were announced in a memo to staff, the report said, citing people familiar with the matter.

Aakash Moondhra, global chief financial officer of Prosus-owned PayU, on Thursday said he has resigned from the payments firm, but will stay in post till September 30. Moondhra, who took to professional networking website, LinkedIn to share the news of his departure from the global fintech firm, called it the ‘end of an era’.

Sam Altman's OpenAI stunned the world with its human-like chatbot, ChatGPT, which could answer most of your questions. It could write your emails, presentations and speeches at work or help with your child's homework – all with a well-worded prompt typed into its app. It even passed the most difficult exams in the world. And all of this when it was not connected to the internet. OpenAI has enabled ChatGPT to browse the internet. This is the latest in a slew of new updates to the chatbot which has popularised generative artificial intelligence in the past year. Let’s take a look at these upgrades.

The central bank of Brazil has vowed to tighten rules and strengthen its oversight of crypto platforms, as crypto adoption in the country surges higher.

IAMAI) on Thursday once again countered the Telecom Regulatory Authority of India's (TRAI) proposal on selective banning of OTT or internet services, saying such demands for imposing revenue sharing mechanisms between Internet companies and telecom services providers (TSPs) «smack of rent-seeking». According to IAMAI members, by requiring «largest» OTT service providers to pay TSPs for data used by consumers, TSPs would effectively be charging twice for the same service — as they already charge consumers for data.

Apple on Thursday asked the US Supreme Court to strike down an order requiring changes to its App Store rules stemming from an antitrust case brought by «Fortnite» owner Epic Games. The iPhone maker has been in a legal battle with Epic since 2020, when the gaming firm alleged that Apple's practice of charging up to 30% commissions on in-app payments on iPhones and other devices violated US antitrust rules. Epic lost on those claims at trial in 2021, but a US District Court judge ruled that Apple's practice of banning software developers from telling customers about alternative payment methods violated a California unfair competition law.

Cognizant Technology Solutions on Thursday announced the appointment of Wipro executive Jatin Dalal as Chief Financial Officer effective in December 2023. Dalal, who resigned from Wipro last week, will be serving his notice period as the CFO at the homegrown IT firm till the end of November.

Zerodha values itself at around Rs 30,000 crore, or approximately $3.6 billion. While the Bengaluru-headquartered company has never raised private capital, it makes public its valuation estimates for its employee stock options buyback programmes. On September 26, Zerodha announced an overall revenue of Rs 6,875 crore for fiscal 2023, and a profit after tax of Rs 2,900 crore. Taking to LinkedIn, Nithin Kamath, chief executive officer of Zerodha, said he values the company at 10 to 15 times of its PAT.

Amazon has won court backing for now in its fight against EU tech rules that label it as a very large online platform (VLOP) required to provide researchers and authorities access to its ad repositories to see how ads are targeted. The U.S. online retailer took its grievance to Europe's second highest court, the Luxembourg-based General Court, in July after EU antitrust regulators in April designated it as a VLOP along with 18 other platforms and search engines.

If you want a sustainable, long-lasting growth for the real estate industry, it has to be an overall participation and that comes from the bottom of the pyramid, says Prashant Thakur, Regional Director & Head of Research, Anarock Group. Edited excerpts: There is a big scheme in the offing from the government side. A $7.5 billion worth of scheme to give the further fillip to urban middle class. Will this really give a lot of push to the realty sector, which is already in massive momentum? How long and potential could this be? There has been a good upsurge in the overall sales but what we have seen is that while the upper segment is doing quite well, the lower and affordable segment has been kind of lagging behind, and there are a couple of reasons behind it. While the rise in interest rate did not impact the upper and mid-upper too much, the affordable segment got impacted because of interest rate increase; the home loan eligibility of these borrowers came down because most of them work in either unorganised sector or they do not have a steady income source, I am talking about buyers of affordable housing.

BMW iX1 is available in Alpine White non-metallic paint and Space Silver, Black Sapphire and Storm Bay metallic paintworks. The choice of upholstery includes Veganza Perforated Mocha and Veganza Perforated Oyster. The BMW iX1 comes with standard two-year warranty for unlimited kilometres. Repair Inclusive can extend warranty benefits from third year of operation to maximum fifth year without any mileage limitation.

Ministry of Information and Broadcasting has initiated a series of crucial amendments to the Cable Television Network Rules, 1994, aimed at streamlining the Multi-System Operator (MSO) registration process and promoting infrastructure sharing with broadband service providers to expand internet access across the nation. According to the press release by the Ministry of Information and Broadcasting, MSOs are now required to apply for registration or the renewal of registration online, utilizing the Broadcast Seva Portal of the Ministry of Information and Broadcasting. This move towards digital processes aligns with the government's commitment to facilitating business operations and reducing bureaucratic hurdles. MSO registrations will now be granted or renewed for a more extended period, specifically for ten years.

Chromebook devices will be made at the Flex Facility located near Chennai, where HP has been manufacturing various laptops and desktops since August 2020. Production of HP Chromebooks is set to commence on October 02, 2023.

In a financial landscape punctuated by volatility, Bitcoin has once again made headlines, registering a 0.75% surge and settling at the $26,450 mark. What's driving Bitcoin's recent movement, and what's next? This analysis provides a forecast for its near-term future. 

₹300 crore ‘P&G Supply Chain Catalyst Fund’. Aimed at teaming up with third-party firms and startups, the fund’s objective is to co-develop solutions for a contemporary supply chain ecosystem. The investment focuses on multiple aspects, from supply chain optimization and digitization to capacity expansion and sustainability, as the company seeks to rejuvenate its supply chain, according to a company statement.