Wipro's Delaporte took home $8.8 million in FY 21; more than TCS, Infy CEOs

Wipro CEO Thierry Delaporte received a total compensation of $8.8 million in the financial year 2021, regulatory filings show, making him the highest paid chief executive among the country’s three largest software exporters. According to the company’s statement to the US Securities and Exchange Commission (SEC), a one-time cash award and stock grants boosted Delaporte’s earnings for the year, after he took charge amid the pandemic in June


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ShareChat parent to buy back ESOPs worth $19 million

Bengaluru: Mohalla Tech, the parent company of regional language social media platform ShareChat and short video app Moj, will buy back employee stocks worth $19.1 million, the company announced on Friday. The move comes a few months after it raised $502 million at a valuation of $2.1 billion, thereby making…

Read more: ShareChat parent to buy back ESOPs worth $19 million

Smartphone market to bounce back in Q3; better prepared this year: Xiaomi's Manu Jain

Handset maker Xiaomi expects the market to bounce back in the July-September period but remains cautiously optimistic with the Covid-led lockdowns being lifted partially. It, however, highlighted supply chain related challenges, which led to delay of its flagship phone. “…we continue to remain cautiously optimistic. With all our learnings from…

Read more: Smartphone market to bounce back in Q3; better prepared this year: Xiaomi's Manu Jain

Indian Overseas Bank urges RBI to pull the bank out of PCA framework

State-owned Indian Overseas Bank has urged the Reserve Bank of India to lift business curbs from it placed under the prompt corrective action framework with the lender’s annual return on assets turning positive for the first time since 2014. The bank reported Rs 831 crore of annual profit against Rs…

Read more: Indian Overseas Bank urges RBI to pull the bank out of PCA framework

COVID deals new blow to foreign carmakers' Indian dream

Foreign automakers’ hopes of a booming Indian car market are fading fast as a brutal second wave of COVID-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States. Carmakers that saw nearly a decade of Indian sales growth…

Read more: COVID deals new blow to foreign carmakers' Indian dream

India: Max Financial promoters sell shares worth $105m

Photo: Pixabay Max Ventures Investment Holdings Pvt Ltd, a promoter of Max Financial Services on Thursday sold shares worth ₹783 crore through an open market transaction. As per block deal data on NSE, the promoter sold over 7.83 million shares of Max Financial Services Ltd at an average price of…

Read more: India: Max Financial promoters sell shares worth $105m

UP Police summons Twitter India MD in Ghaziabad viral video case

Bengaluru: Police in Uttar Pradesh have sent a notice to Twitter India MD Manish Maheshwari, summoning him to appear before a Ghaziabad police station for questioning in connection with a viral video of an attack on an elderly person in the state. The notice issued on Thursday, reviewed by ET,…

Read more: UP Police summons Twitter India MD in Ghaziabad viral video case

Covid may not have serious impact: Rajkiran Rai, Union Bank CEO

After its merger with Corporation Bank and Andhra Bank, Union Bank of India has become the fifth-largest public sector bank by assets, bigger than Bank of India or even private sector Axis Bank. It has been no exception to the glitches associated with mergers, but chief executive Rajkiran Rai tells…

Read more: Covid may not have serious impact: Rajkiran Rai, Union Bank CEO

Smartphone market sends recovery signal in first half of June

The smartphone market has recovered faster than expected in the first half of June, with states like Maharashtra seeing sales back at pre-Covid second wave levels amid healthy customer footfall in offline retail stores. Large markets such as Delhi, Uttar Pradesh, Bihar and Madhya Pradesh saw demand revive 60-80% of…

Read more: Smartphone market sends recovery signal in first half of June

India's crypto industry attracts foreign funds, but local investors remain wary

Patent filing across emerging technologies is gaining pace in India: Nasscom

Tata Digital to add neobank to its 'super app' arsenal

Indian payments unicorn Paytm hires four official bankers for its proposed $3b IPO

India’s Cars24 to invest $100m to expand operations to SE Asia, middle east this year

Chairman & CEO: Satya Nadella gets top job at MS Office

Fact-checkers say Twitter needs domain experts to weed out misinformation

Facebook launches ads globally for Instagram Reels

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