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The Economic Times

Amazon adds chatbot for its sellers, boosting automation

Amazon announced Amelia during its annual conference in its hometown where many of its roughly 450,000 US independent sellers converge for tips and tricks, and to learn about new products and services. The software, dubbed Amelia, can provide instantaneous answers to broad questions such as how to prepare for the holidays and how a seller's business is performing, including units sold and website traffic.

The Economic Times

EU moves to compel Apple to open up operating system to rival tech

The EU's executive branch, the European Commission, said it has opened two "specification proceedings" that will spell out what Apple needs to do under the 27-nation bloc's Digital Markets Act.

Business Line

Dantech Digital Dental gets ₹21 cr funding, plans capacity ramp-up, new product lines & acquisitions

The firm is eyeing jacking up capacity to 1,000 units per day

The Economic Times

Tech View: Nifty forms shooting star candle, consolidation likely to continue. How to trade on Friday

A small negative candle with a long upper shadow on the daily chart suggests a false breakout above 25,500. This sharp rejection from new highs indicates a potential short-term dip, according to Nagaraj Shetti of HDFC Securities.

The Economic Times

Nasdaq futures up 2% as Fed rate cut buoys growth stocks

U.S. stock index futures surged, with Nasdaq futures up 2%, following the Federal Reserve's 50-basis-point interest rate cut. Key tech stocks like Microsoft and Alphabet saw gains, while semiconductor stocks also rose. The Fed's move aims to support steady growth and low inflation, boosting market optimism.

Business Standard

Google's plea against CCI order in android mobile case mentioned in SC

Google LLC on Thursday told the Supreme Court that the arguments in the case related to the tech giant's alleged anti-competitive practices in the Android mobile device matter may take five-six days. On March 29 last year, the National Company Law Appellate Tribunal (NCLAT) had handed out a mixed verdict on Google's alleged anti-competitive practices in the case -- upholding a fine of Rs 1,338 crore but scrapping conditions like allowing hosting of third-party app stores on its Play Store. The top court is seized of cross-pleas of Google and the Competition Commission of India (CCI) challenging a verdict of an appellate tribunal in a case related to the tech giant's alleged anti-competitive practices in the Android mobile device matter. A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra has already listed the cross-pleas for hearing on Thursday. The pleas, however, are unlikely to reach for hearing during the day as the bench is seized of ...

The Economic Times

Early-stage VC z21 Ventures raises $20 million in first close of second fund

Founded in 2022 by healthcare focused software-as-a-service (SaaS) unicorn Innovaccer cofounder and CEO Abhinav Shashank and former Innovaccer executive Raj Shekhar Singh, z21 Ventures runs as a collective of Indian-origin tech executives in the US.

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Neogen Chemicals, AGI Infra Ltd., Sintercom India, Newgen Software and Indostar Cap. Fin., hit their fresh 52-week highs during the day.

Business Standard

One startup per district: Digital portal BHASKAR launched to push growth

Union Minister Piyush Goyal launched the BHASKAR portal to connect startups, investors, and service providers, a move aimed at pushing the Centre's efforts to promote the startup sector

The Economic Times

You cannot have a system which gets hacked: FM Nirmala Sitharaman to banking sector

Finance Minister Nirmala Sitharaman emphasized the crucial role of the banking sector in achieving India's goal of becoming a developed nation by 2047. Speaking at the Bank of Maharashtra's 90th Foundation Day, she highlighted the need for strong support to infrastructure, MSMEs, and digital banking while ensuring robust cybersecurity measures.

Mint

HCL Tech shares fall after Kotak downgrades stock to ‘reduce’

Shares of HCL Tech closed in red on Thursday's trading session. The stock ended the day 0.83 per cent down at ₹1,741.85, on September.

The Economic Times

Apple faces EU warning to open up iPhone operating

EU watchdogs are due to announce under the bloc’s new Digital Markets Act that the Cupertino, California-based firm must step into line with strict new rules on making operating systems fully functional with other technologies, according to people familiar with the matter, who spoke under condition of anonymity.

Business Standard

Nazara Tech hits 52-week high after raising Rs 900 cr; to acquire 19% stake in Absolute Sports

Nazara Technologies announced that it has raised Rs 900 crore through preferential issue of equity share at Rs 954.27 per share.

Mint

JM Financial explains how US Fed’s 50 bps rate cut will impact the IT sector

The US Federal Reserve's 50 basis points rate cut is expected to have a gradual impact on the IT sector, with companies like Tech Mahindra positioned to benefit from reduced interest burdens. JM Financial cautions against immediate spending boosts due to ongoing economic uncertainties.

The Economic Times

Princeton Digital Group to pump in $1 billion as part of India expansion for AI-ready data centres

“India is well positioned to be a global AI leader, and we are determined to play an important role in making that happen. As one of the fastest growing data centre operators, our $1 billion investment in India is testament to our deep commitment to the country’s AI and cloud ecosystems,” Rangu Salgame, chairman, CEO and cofounder, PDG said in a statement.

The Economic Times

Amantya Technologies bags multi-year contract to develop DoT's unified portal

Amantya has bagged the contract from an independent business vertical of the state-run Centre for Development of Telematics (C-DOT), eTelecom Transformation Centre (eTT), that has been created for the specific purpose for the development of the Department of Telecom's (DoT) unified portal and its digital by design implementation as per the Telecommunication Act 2023.

CNBC TV18

Macrotech Developers plans to acquire Ivanhoe's stake in three entities for ₹239 crore

Macrotech Developers Share Price | After the acquisition of stake Macrotech Developers’ stake in Bellissimo Digital Infrastructure Development Management Pvt Ltd will increase to 70%. Similarly, Macrotech’s shareholding in Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd, will increase to 66.67% in both the companies.

The Economic Times

US Senate committee questions tech executives about election threats

"There is a potential moment of peril ahead. Today we are 48 days away from the election... the most perilous moment will come, I think, 48 hours before the election," Microsoft President Brad Smith testified at the hearing, held by the U.S. Senate Intelligence Committee.

The Economic Times

Rishabh Pant picks up 2% stake in online software marketplace TechJockey

Cricketer Rishabh Pant has acquired a 2 per cent stake in online software marketplace Techjockey for Rs 7.40 crore. Founded in 2017, the company connects software vendors with small businesses and recently expanded into the US market. The new funding will support marketing initiatives and global expansion.

The Economic Times

Kotak Equities downgrades HCL Tech to reduce, says shares are fully valued

HCL Tech Share Price: Kotak Institutional Equities downgraded HCL Technologies to "reduce," citing full valuations and growth headwinds, while noting potential recovery in FY2026.

The Economic Times

Princeton Digital Group to pump $1 billion in India for AI-ready data centres

The company said it is expanding capacity to a total of 230 MW and will make PDG’s flagship MU1 one of the largest operational campuses in Mumbai with the addition of three new buildings that will triple the campus’s existing capacity to 150 MW. The first phase of the 100 MW expansion is scheduled for delivery in 2026. Upon completion, MU1 will occupy about 15 acres of land.

CNBC TV18

HCL Tech shares are too hot to hold, says this analyst

HCL Technologies shares are among the best Nifty IT performers this year. That also makes it fully valued, according to analysts at Kotak Institutional Equities who have cut the rating to 'reduce'.

The Economic Times

Survival of the fittest in the startup world and beyond: Jitendra Chouksey on building strong businesses at ET Soonicorns Summit 2024

At the ET Soonicorns Summit 2024, fitness-tech entrepreneur Jitendra Chouksey, Founder of Fittr, will share his journey and insights into the dynamic intersection of fitness, technology, and entrepreneurship. The summit, themed ‘From Resurgence to Resilience,’ will take place on September 20 in Bengaluru and will feature some of India's leading soonicorn founders and industry leaders. Register now!

Business Standard

Macrotech acquires additional stake in digital infrastructure platform entities for Rs 240 crore

Macrotech Developers said that it has executed securities purchase agreements with Ivanhoe Warehousing India Inc. for acquisition of their interest in the digital infrastructure platform entities in Maharashtra for Rs 239.56 crore.

Business Line

Indian markets rally as Fed cuts rates; Sensex surges 600 points

The IT sector showed strength, despite concerns over potential reduced demand for Indian IT services exports due to a slowdown in the US economy

CNBC TV18

Analysts see upside in Nestle, ABFRL, Samvardhana Motherson, ICICI Bank and MCX

On Thursday, market tech analysts Mitessh Thakkar and F&O analyst Chandan Taparia recommended these stocks for the short term.

The Economic Times

Macrotech Developers buys out Ivanhoé Cambridge’s stake in 3 joint en

Realty developer Lodha, listed as Macrotech Developers, has acquired Ivanhoé Cambridge's stake in three joint entities for Rs 239.56 crore. This move aligns with Lodha's strategy to grow its annuity income. The acquisition increases Lodha's stakes in Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and Bellissimo In City FC Mumbai 1.

The Economic Times

Google offered to sell part of ad tech business, not enough for EU publishers

Google's offer to sell its AdX advertising marketplace to end an EU antitrust investigation was rejected by European publishers as insufficient. The EU may order Google to stop anti-competitive practices instead of divesting assets for now. Google's ad tech business is under scrutiny after a complaint from the European Publishers Council.

The Economic Times

Banks step up digital vigil; online festive sales boom

Happy Thursday! Banks are implementing rigorous background checks for customers coming through digital channels. This and more in today’s ETtech Morning Dispatch.

Mint

Marketing tech agency Wondrlab acquires second influencer firm OPA

Wondrlab's acquisition of OPA strengthens its influencer marketing capabilities, expanding its portfolio and market presence. The agency plans to increase its acquisitions and invest in technology to raise operational efficiency, responding to the growing importance of influencer marketing.

Mint

Aditya Birla Capital sees digital platforms driving growth

The company has already launched two of these platforms. While Udyog Plus for small businesses was launched in 2023, the direct-to-consumer (D2C) ABCD platform was launched in April.

Business Standard

Nazara Tech to raise Rs 900 crore; ups stake in Absolute Sports to 91%

Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore. Nazara also announced increasing its stake in Absolute Sports to 91 per cent. The fresh capital will fuel the firm's strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said. "The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara's financial foundation for long-term expansion," it said. Nazara acquired an additional 19.35 per cent stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crores, with 50 per cent of the consideration paid in cash and the remaining

Business Standard

Vaishnaw urges industry to form task forces for compliance simplification

Vaishnaw suggested that once functional, the task forces across sectors such as manufacturing, IT services, among others, can meet once in a month to discuss the issues

The Economic Times

P&G India's upbeat take: Green shoots visible, demand to bounce back soon

Procter & Gamble Hygiene and Health Care Ltd (PGHHC) sees positive trends in rural and urban consumption, with inflation softening. The company plans to cater to both markets through various retail channels. PGHHC is also leveraging data and digital transformation to optimize inventory and sales. The firm anticipates continued growth despite some near-term challenges.

Business Standard

Godrej Capital to enter affordable housing loan segment by December

Godrej Capital, the financial services arm of the Godrej Group, is gearing up to enter the affordable housing loan segment by December, with plans to grow its assets under management (AUM) to Rs 17,000 crore by the end of the current financial year, its Managing Director Manish Shah said on Wednesday. The company currently manages an asset base of Rs 13,000 crore, after reaching an AUM of Rs 10,000 crore in FY24. It is now aiming to increase this to Rs 17,000 crore by FY25, with a target of expanding to Rs 30,000 crore by March 2026 and a longer-term goal of achieving Rs 50,000 crore in AUM by March 2028, Shah stated. The company's strategic focus will be on the small and medium enterprises (SME), micro, small, and medium enterprises (MSME), and home loan segments. As part of its expansion, Godrej Capital will make its foray into the affordable housing loan market by the end of the year. "Our focus will be towards smaller loan amounts, aimed at meeting the needs of affordable ...

Business Standard

LIC earmarks Rs 600 crore for digital shift; to be 'paperless' in 2 years

LIC has appointed Boston Consulting Group as a consultant

Business Standard

India's home & household market to reach $237 bn by 2030: Deloitte

India's home and household market is expected to reach USD 237 billion by 2030 at a compounded annual growth rate (CAGR) of over 10 per cent, fuelled by increasing disposable income, shifting consumer preferences and a growing focus on comfort and convenience across product categories, according to a report by Deloitte. The report, Powering Consumption Growth-India's Home and House Market, launched at the two-day event MAPIC India 2024, which began here on Wednesday, also said that the home and household market are witnessing strong demand, particularly in tier 2 and tier 3 cities that are emerging as growth hubs. It also said that omnichannel retail and e-commerce are helping businesses connect with consumers, expanding their reach beyond urban centres. Stating that factors such as high disposable incomes, the rise of digital platforms, easy access to credit, and young consumers seeking modern designs, home renovations and personalisation, which provide tailored offerings to ...

The Economic Times

Tech view: 25,500 crucial resistance for Nifty; decisive up move to take index higher. How to trade on Thursday

Nagaraj Shetti of HDFC Securities believes the short-term outlook for the Nifty is positive but with limited price movement. He suggests dips towards 25,200-25,100 could offer attractive buying opportunities. A decisive move above 25,500 might propel the Nifty toward higher targets.

Business Standard

Benchmarks settle lower as investors await Fed rate decision

The domestic equity market ended with minor losses on Wednesday as investors eagerly anticipated the US Federal Reserve's interest rate decision. The benchmark Nifty 50 index closed below the 25,400 level, snapping a two-day winning streak. IT, pharma and energy stocks weighed down the market, while financial services and private banks shares witnessed buying interest.

Business Line

Amazon.in to offer ‘phone set-up service’ in 300 cities

Amazon.in offers doorstep tech assistance service