Tech company reviews

Synopsis India is walking the talk on becoming a global digital economy, enhancing competitive advantage with focus and investments across key intervention areas. Amid the growing fears of slowdown and global recession, the Union Budget is growth-oriented, boosting allocations across sectors, according to IT industry body Nasscom. The budget offers a playing ground for the startup community as well, and has highlighted that India is the third largest ecosystem for startups, Nasscom said in a statement. "Amidst the growing fear of slowdown and global recession, the Union Budget 2023 is growth-oriented and committed budget, that has boosted allocations across sectors," the IT industry association said. India is walking the talk on becoming a global digital economy, enhancing competitive advantage with focus and investments across key intervention areas. "Calling out the Indian economy as tech-driven, knowledge-based economy, the budget focuses on three key … [Read more...] about Budget growth-oriented, underscores role of digital, tech in development: Nasscom

Synopsis Edtechs are expected to move away from the K-12 business model in the coming year. They are also expected to focus on priorities such as a bigger offline play, tapping international markets with higher disposable incomes, and digitising the existing school system. The pandemic-driven boom has ended and tech funding has dried up. And this has forced edtech ventures to cut costs further and seek sustainable offline models with profit-generating revenue streams, say entrepreneurs and investors. Edtechs are expected to move away from the K-12 business model in the coming year. They are also expected to focus on priorities such as a bigger offline play, tapping international markets with higher disposable incomes, and digitising the existing school system, multiple professionals engaged in the business told ET. Over the next two years, Byju ’s expects at least a third of its overall revenues to come from international markets, the company’s co-founder … [Read more...] about 2022 Year in Review | As the pandemic bubble bursts, edtechs back in class

Synopsis State-owned BPCL's reported consolidated net profit fell 36% to Rs 1,747 crore for the December quarter, compared with Rs 2,579 crore of last year quarter. Meanwhile, revenue from operations rose 13%. The February futures contract of Nifty 50 traded on the Singapore Exchange indicates positive start for domestic equities today. The contract was trading at 17,768, up 63 points or 0.36% from the previous close. These are some of the stocks that will be in focus for the following reasons Adani Enterprises Abu Dhabi-based diversified conglomerate International Holding Co (IHC) will invest $400 million into the follow-on public offer (FPO) of Adani Enterprises. The investment commitment from IHC comes at a time when the mega FPO of billionaire Gautam Adani’s flagship company is struggling to sail through after the massive sell-off in stocks last week. BPCL State-owned BPCL's reported consolidated net profit fell 36% to Rs 1,747 crore for the December … [Read more...] about L&T Stocks | Tech Mahindra Stocks: Stocks in news: Adani Enterprises, L&T, BPCL, Tech Mahindra, PNB, GAIL

Synopsis "Prices will increase by 5-6% for most customers, after remaining the same for the last 4 years. Despite broadcasters taking a higher hike, we can keep the price hike to its minimum because the network carriage fee and the tax components of the price are not being increased," the spokesperson added. A top-level official with a leading DTH firm said the industry has decided to implement the price hike in parts. Direct-to-home (DTH) operators will pass on the price increase by TV broadcasters in a staggered manner rather than going in for a lump sum increase, said top executives at DTH companies. The New Tariff Order ( NTO ) 3.0, which came into effect from February 1, will lead to an increase in consumer tariffs by at least Rs 25-50 per customer. According to a FICCI-EY 2022 report, the average revenue per user (ARPU) for TV subscriptions stood at Rs 223 net of taxes. A Tata Play spokesperson said that the company will carry out the price increase in … [Read more...] about DTH companies to raise prices in a staggered manner

Synopsis ​​In its September 6 order, the top court ruled that any insolvency resolution plan, approved by the financial creditors by ignoring the statutory demands payable to state and Central governments or other legal authorities, was liable to be rejected. New Delhi: Lenders including State Bank of India and Indian Overseas Bank on Thursday moved the Supreme Court , seeking a review of its judgement that statutory creditors like tax authorities would be considered as secured creditors . In its September 6 order, the top court ruled that any insolvency resolution plan, approved by the financial creditors by ignoring the statutory demands payable to state and Central governments or other legal authorities, was liable to be rejected. The judgement has serious ramifications since it ranks the 'crown debts' (central and state tax dues) at par with workmen dues and ignores the settled law that these (crown debts) are lower in priority than the dues of lenders. This … [Read more...] about Banks seek review of SC order tagging statutory creditors as ‘Secured’ ones

Synopsis From the next financial year starting from April 1, all distributions by REITs and InvITs representing repayment of debt are taxable as "other income" in the hands of the unit holders. Mindspace Business Parks REIT, on Monday, approved distribution of Rs 284.6 crore for the quarter ended December. Dividend, which is tax-exempt in the hand of unitholders, formed 91% of this while interest constituted 9%. The business trusts including Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) will need to review mode of their income distribution to unitholders as the Union Budget for 2023-24 has proposed to tax such distribution through repayment of debt. The budget has proposed the distribution in the form of repayment of debt, taxable as other income, in the hands of unitholders. Distribution of income as dividend by these trusts continues to be exempted from taxation to unitholders. As per the Securities & Exchange Board of … [Read more...] about REITs, InvITs may need to review income distribution modes as Budget widens tax bracket