Tech Market

Japanese Chat App Operator Line Corp Soars In New York Debut

Shares of Japanese messaging app operator Line Corp soared as much as 36 percent in their U.S. market debut on Thursday, valuing the high-profile tech startup at $9.34 billion in the biggest tech IPO this year. The offering of 22 million American Depository Shares (ADSs) at $32.84 each topped the upper end of the expected price range of $28.50-$32.50, raising ... Read More »

Telecom Companies’ Data Revenues To Double In Two Years: CLSA

Mumbai: Predicting data revenues for telecom operators to double to $11 billion by 2017-18, top brokerage CLSA has said the much-awaited commercial entry of Reliance Jio would drive the market further. Even as existing operators have begun to focus on content, the key differentiator will be network delivery, or quality and download speed – areas that have intensified ahead of ... Read More »

L&T Infotech’s Rs 1,200 Crore IPO Fails To Excite Analysts: 10 Things To Know

Investors in the primary market have reasons to cheer, with many of the recent initial public offers (IPOs) returning huge listing gains. Blockbuster listings of Dr Lal PathLabs, Alkem Labs, TeamLease Services, Thyrocare Tech and more recently Mahanagar Gas, have boosted the confidence of retail investors in IPOs. It’s no surprise that some of the recent IPOs have therefore attracted ... Read More »

Idea, Airtel Shares Slump Amid Allegations Of Rs 45,000 Crore Telecom Scam

Shares of mobile operators fell sharply on Friday, following the Congress party’s allegation about a staggering Rs 45,000-crore telecom scam. Congress spokesperson Randeep Surjewala on Thursday alleged that the government is “surreptitiously taking steps to protect the interests of six leading telecom companies by helping them avoid the payment of charges rightfully owed to the government.” The telecom companies named ... Read More »

TCS Shares Fall For Fourth Straight Day; Infosys, Wipro Also Hit

TCS shares fell for the fourth straight day after amid concerns over the impact of Brexit on the Indian outsourcing companies. TCS fell as much as 1.5 per cent today to Rs 2,458.4, extending its losses to 8┬áper cent in four days. Global brokerage Bank of America Merrill Lynch has downgraded TCS to “underperform” from “buy”, citing the Indian outsourcer’s ... Read More »

IT Stocks Suffer Amid Brexit Concerns, TCS Falls 3%

Overall, for the Indian IT sector, Bank of America Merrill Lynch sees the earnings of Indian outsourcers to get impacted due to Brexit. More From Market HCL Tech Allots 84,000 Shares Under 2004 Stock Option Plan Rupee Hits 1-Week High Of 67.08, Gains 9 Paise Vedanta Sweetens Terms For Cairn India Merger Cairn India Surges 12% To 52-Week High Federal ... Read More »

IT Stocks Plunge As Pound-Sterling Slumps On Brexit

IT stocks nosedived on Friday after Britain voted to exit European Union leading to over 10 per cent slump in the British pound against the dollar. The IT sub-index on Bombay Stock Exchange plunged as much as 4 per cent. The pound collapsed to a 31-year low and went into a freefall on Friday after Britain voted to leave the ... Read More »

Alphabet, Facebook Seen Acquiring More as Startup Valuations Sag

David Drummond has a simple explanation for why Alphabet Inc., one of the more acquisitive technology companies, has been sitting on its hands for more than a year. “Have you seen the valuations?” Drummond, the corporate development chief for Google’s parent company, said in an interview after the Alphabet annual shareholder meeting June 8. That’s about to change as stratospheric ... Read More »

Cabinet Approves Auction Of Mobile Phone Airwaves: Report

New Delhi: The cabinet approved on Wednesday an auction of mobile phone airwaves, a government source told Reuters. Earlier this year India’s telecom ministry had proposed sale of airwaves in the 700 Mhz, 800 Mhz, 900 Mhz, 1800 Mhz, 2100 Mhz, 2300 Mhz and 2500 MHz bands. India is the world’s second largest mobile phone market by users after China, ... Read More »

Dow Ends 0.14% Higher As Tech Shares Gain; Brexit Fear Ebbs

U.S. stocks rose on Tuesday, led by gains in technology shares as Federal Reserve Chair Janet Yellen was optimistic about the economy and played down the risk of a recession, while concern over the upcoming British referendum remained subdued. Yellen, however, warned that the British vote on Thursday on whether to stay in the European Union, alongside a U.S. hiring ... Read More »