Free Press Journal
  • Mahindra group to pump in $1 bn in US over next 5 years

    New York : Diversified Mahindra group plans to invest $ 1 billion across business verticals in the US over the next five years as it aims to double revenues from the American market to USD 5 billion.

  • Anand Mahindra apologises over techie’s firing as audio clip goes viral

    New Delhi: Mahindra Groups’s Chairman Anand Mahindra today tendered a public apology over the manner in which an employee of Tech Mahindra was asked to quit.   Tech Mahindra top brass also apologised after an audio clip went viral, which purportedly involved a conversation of an HR executive of the company asking an employee to put in his papers by next morning, as part of corporate decision.

  • Entered into Top 20 global tech services brands: Tech Mahindra

    Bengaluru: IT firm Tech Mahindra on Sunday that said it has entered into the Top-20 global tech services brands list (by brand value) in 2017,as per an independent assessment by a valuation and strategy consultancy, Brand Finance.   It also said the company has potential to be in the top-5 technology services brands by 2020.   Tech Mahindra has been ranked at No 14, with an impressive growth of 21 per cent over the previous

  • Tech Mahindra to acquire US-based healthcare IT services company

    Mumbai : IT Firm Tech Mahindra on Monday announced that it has signed an agreement to acquire a US-based healthcare Information Technology consulting company CJS Solutions Group LLC, which does business as The HCI Group.

  • Tech Mahindra sees bigger biz from merger

    Mumbai: Tech Mahindra sees the proposed merger of Vodafone and Idea as a “seismic” event that will impact the IT sector, but asserted that it will benefit from such a deal.

  • IT Stocks Outlook: Stock-specific movement likely next week

    Mumbai : Movement in shares of information technology companies is expected to be stock specific depending on Jul-Sep earnings of each company, analysts said, reports Cogensis. Jul-Sep earnings of information technology companies have been mixed so far. Infosys and Wipro disappointed with weak sales guidance and Tata Consultancy Services posted disappointing numbers, while

  • Good show by emerging market companies : Boston Consulting Group

    Mumbai  : Despite a slowdown in the global economy, the CAGR of emerging market companies stood at 13 per cent, comparaed to those in mature markets which stood at 4 per cent, in the period 2009-14, according to a Boston Consulting Group (BCG) report, Global Challengers.

  • Cisco to partner with startups, cos for smart solutions

    New Delhi: Technology giant Cisco today announced its new ‘LaunchPad’ initiative under which it will partner with developers and enterprises in India to co-develop smart solutions.

  • Tech Mahindra to buy UK firm for up to 45 mn pound

    New Delhi : Tech Mahindra said it has acquired UK-based BIO Agency (BIO) in an all-cash deal for an enterprise value of up to 45 million pounds, a move that will augment the Indian software exporter’s digital services portfolio.

  • Tech Mahindra not to pursue payments bank operations

    New Delhi : IT firm Tech Mahindra on Tuesday said that it will not pursue its plans to set up payments bank operations in the country, becoming the third player to pull out from the race.

  • Tech Mahindra not to pursue payments bank operations

    New Delhi: IT firm Tech Mahindra today said it will not pursue its plans to set up payments bank operations in the country, becoming the third player to pull out from the race. “With reference to the earlier communication dated August 20, 2015, about the in-principle approval granted by RBI for setting up a payments bank, Board of Directors of the company have decided that the company will not pursue this opportunity,”

  • Tech Mahindra Q3 net falls 6% to Rs 759 cr

    New Delhi: The fifth-biggest software exporter Tech Mahindra posted a 5.7 % decline in December quarter net at Rs 759.2 crore, pulled down by a margin squeeze due to its acquisitions during the quarter.  Overall revenues surged 16.50 % to Rs 6,701.1 crore, but operating profit declined to Rs 1,135.9 crore. Chief financial officer Milind Kulkarni explained that this is mainly due to acquisitions, saying the pre-tax margins have come down to

  • Tech Mahindra posts 9% rise in net profit

    Mumbai : Country’s fifth largest software firm Tech Mahindra reported 9.2 % increase in its September quarter profit at Rs 786 crore, helped by volume growth and margin expansion.  The Mahindra Group company’s revenues grew 20.5 % over the last year’s and 5.1 % sequentially to Rs 6,616 crore, helped by a growth across verticals and majority of the geographies it operates in, its managing director and chief executive C P Gurnani said.

  • Raghuram-Rajan

    First set of differential bank licences by month-end: Raghuram Rajan

    Mumbai: The Reserve Bank is all set to issue the first set of differential bank licences — small finance and payments banks — by the end of August, a move aimed at promoting financial inclusion. “I hope to announce at least one set of bank licences (either small finance or payments banks) before the end of this month,” RBI Governor Raghuram Rajan said while announcing the bi-monthly monetary policy review here.

  • Tech Mahindra slumps over 7% on profit warning

    Says performance in June quarter would be hit by marginal decline in both revenues and operating margins due to a rise in H1-B visa costs and seasonal weak mobility business
    (more…)

  • Tech Mahindra

    Tech Mahindra teams up with Comverse

    New Delhi :  Tech Mahindra has inked a $150-200 million deal with telecom solutions provider Comverse, a move that will help the country’s fifth largest software services firm beef up its operations in Israel.

  • ‘Thrust on technology, product dev crucial for Make in India’

    Miami: Thrust on technology and product development is crucial for government’s ‘Make in India’ initiative as without it India can never become a “true manufacturing nation”, according to a top Mahindra executive. “If Make in India has to succeed, we also have to have thrust on technology and product development. Without having our own technology and products, one will never become a true manufacturing nation,” Pawan Goenka, Executive Director and President (Automotive and

  • IT giants eye Sebi project

    Mumbai :  Technology giants from India and abroad, including Wipro, Tech Mahindra, IBM, HP and HCL, have evinced interest in Sebi’s proposal to upgrade business intelligence gathering software which is used for detecting fraudulent activities in capital markets. Sebi has also extended the time for submission of bids to January 15, 2015. As per Sebi guidelines, the eligible bidder is required to have “the ability to supply, install, design and implement and