Tech Market

CAIT Alleges Amazon, Flipkart, Snapdeal Are Violating FDI Norms

Traders body CAIT has filed a complaint with DIPP alleging that major e-tailers Amazon, Flipkart and Snapdeal are blatantly violating FDI norms. The Confederation of All India Traders (CAIT) has filed a complaint with the “DIPP against Amazon, Flipkart and Snapdeal for blatant violation of FDI Policy in e-commerce of the government”, CAIT said in a statement. When contacted, Snapdeal ... Read More »

Facebook, Unity Partner to Take on Steam and Other PC Gaming Platforms

HIGHLIGHTS Facebook is partnering with Unity to distribute PC games Developers can get access to Unity 5.4 to export games to Facebook There is also an app in the works for PCs In its quest to be all things to all people, Facebook announced its intentions to take on the likes of GOG and Steam. Collaborating with Unity – one ... Read More »

HP Enterprise Sees Boost From Hardware Business

Hewlett Packard Enterprise Co, which houses former Hewlett-Packard Co’s corporate hardware and services division, reported better-than-expected quarterly revenue and profit, helped by strength in its hardware business. Hewlett Packard Enterprise’s (HPE) shares were up 6.4 percent at $14.47 (roughly Rs. 970) in extended trading on Thursday. Revenue in HPE’s enterprise group business, from which it derives more than half of ... Read More »

India Funding Roundup: An IoT Hardware Startup, Mobile Tutoring Platform, and More

Our latest funding roundup compiles early and late stage investments in India’s startup ecosystem, covering investments in robotics, healthcare, e-commerce, budget hotel accommodations, and is notable for two huge funding events in the EdTech and grocery delivery space. Smartron India IoT startup Smartron India announced Tuesday that it had received an undisclosed sum of funding from cricketer Sachin Tendulkar, who ... Read More »

Advanced Enzyme Tech IPO Opens: Here’s What Management Said

Advanced Enzyme Technologies exports to 50 different countries and has 0.9% market shares globally. Advanced Enzyme Technologies, which launched its initial public offer (IPO) to raise around Rs 410 crore today, will utilise part of the proceeds to expand its business going ahead. “We will be expanding geographically…… we are going to expand our research base more and continue to ... Read More »

European Shares Get Tech Boost As SAP, ASML Surge On Earnings

London: European shares advanced on Wednesday, with the technology sector leading the market higher after SAP and ASML Holding reported forecast-beating quarterly results. Shares in SAP, Europe’s largest software company, rose 4.7 per cent as unexpectedly strong growth in high-margin packaged software licenses fuelled its quarterly earnings. Its second-quarter operating profit rose 9 per cent. ASML Holding, a key supplier ... Read More »

Buy Tata Power, BHEL; Sell HCL Tech: Sumeet Jain

Sumeet Jain says Nifty is likely to see expiry below 8,450 for this month’s contract. The Nifty faces stiff resistance around 8,600-8,620 and fresh buying is unlikely to emerge unless the benchmark takes out these levels, says Sumeet Jain, head – derivatives & technicals with Destimoney Securities. Nifty is likely to see expiry below 8,450 for this month’s contract, he ... Read More »

South Korea Anti-Trust Agency Probes Google: Report

After EU, South Korea to probe Google. (Representational Photo) SEOUL:  South Korea’s anti-trust agency is investigating Google for alleged abuse of its market dominance, a report said, a week after the EU filed anti-trust charges against the US tech giant. The probe by the South’s Fair Trade Commission (FTC) is focused on whether Google is unfairly forcing smartphone makers to ... Read More »

HCL Tech Allots 84,000 Shares Under 2004 Stock Option Plan

New Delhi: Indian IT services company HCL Technologies on Friday said it has allotted over 84,000 equity shares under the 2004 Stock Option Plan, taking its paid-up share capital to 141 crore shares. In its filing to BSE, the company said the allotment had been done by its Employees Stock Option Allotment Committee on July 21, 2016. “Consequent on the ... Read More »

Flipkart Buys Rocket Internet-Backed Jabong For $70 Million

Myntra is India’s largest online fashion retailer. HIGHLIGHTS Flipkart unit buying fashion e-tailer Jabong for $70 million in cash Myntra is India’s largest online fashion retailer Two sites to have combined base of 15 million monthly active users Mumbai: Flipkart, India’s biggest e-commerce firm, is buying domestic online fashion retailer Jabong from Global Fashion Group for $70 million in cash, ... Read More »