Masayoshi Son Outlines Vision to Make India Global Chip Capital
In a recent visit to India, SoftBank Group founder Masayoshi Son outlined his vision to make the country the global chip capital of the world as artificial intelligence resets the technology landscape.
During his meet with Prime Minister Narendra Modi, Son discussed plans to invest heavily in India's chip-making infrastructure and create a hub for innovation and research. This move aims to take advantage of India's growing tech industry and tap into its vast pool of skilled engineers and researchers.
Zomato Raises ₹85,000 Crores via QIP, Motilal Oswal Emerges as Biggest Domestic Investor
Food delivery major Zomato has raised ₹8,500 crores through a qualified institutional placement (QIP) largely led by domestic investors. The company mentioned that the amount exceeds its initial target of ₹6,000 crores.
Amazon to Launch Quick Commerce Delivery Service Tez soon
Amazon India is racing to launch its quick commerce delivery service Tez by late December or early next year. The company aims to compete with other popular quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart, which have been growing rapidly.
Google to Face Probe over Antitrust Rules following Winzo Complaint
The Competition Commission of India (CCI) has ordered a probe against Google for an alleged breach of antitrust rules following a complaint from online gaming company Winzo. The regulator has asked its director general to wrap up the investigation and submit a consolidated report within 60 days.
** Nazara Completes ₹855 Crore Fundraise led by SBI Mutual Fund**
Online gaming company Nazara Technologies has completed an ₹855 crore fundraise, led by SBI Mutual Fund. This investment will help Nazara focus on building its game development capabilities and expand into new markets.
Healthkart Swings to Profit in FY24, Revenue Tops ₹1,000 Crore
Healthkart, a leading healthtech startup, has reported a 23% year-on-year increase in operating revenue at ₹1,021 crore for the fiscal year ended March. The company posted a net profit of ₹37 crore for the year.
Infosys Hands Out 90% Average Performance Bonus Fuelled by Uptick in Growth
India's second-largest IT firm Infosys announced an average performance bonus of 90% for eligible employees for Q2 FY25. Mid-and junior-level staff will receive the bonus with November salaries, while individual amounts vary based on performance.
Indian Firms to Explore Markets beyond North America and Europe
Indian software service exporters, including TCS, Infosys, and Wipro, are turning to markets like Japan, the Middle East, Australia, Asia Pacific (APAC) and the home market India as traditional strongholds experience slowing growth in North America and Europe.
Tamil Nadu Government Approaches Foxconn for Proposed Battery Energy Storage System
The Tamil Nadu government has approached Foxconn with about 200 acres of land for its proposed battery energy storage system (BESS) unit, aimed at creating a hub for electric vehicle charging and improving India's energy infrastructure.