BENGALURU: It’s something of a Francisco D’Souza redux. After stepping down as Cognizant CEO, D’Souza co-founded Recognize. Now, Bain Capital, in partnership with Recognize, has closed a multi-billion-dollar deal to acquire HealthEdge, the US-based healthcare software provider. During D’Souza’s tenure, Cognizant carved out a strong franchise in healthcare, with the former CEO playing a pivotal…
MUMBAI: Most tech-driven financial services platforms faced outages during Friday’s high-intensity late session due to tech-glitch at Cloudflare, one of the companies that runs the internet globally. Traders in India faced issues with trade execution and cancellations on a day when the RBI policy and weekend considerations led to higher trading intensity than most other…
Kolkata: 106-year-old Kesoram Industries, once the flagship of the B K Birla group, is being acquired by Frontier Warehousing, a city-based storage and logistics solutions company. The total value of the acquisition, as per stock exchange filings, would be close to Rs 100 crore.Frontier-owner Gautam Agarwal, told TOI he is drawing up plans for Kesoram,…
MUMBAI: RBI deputy governor Poonam Gupta has responded to recent IMF comments questioning the quality of India’s growth data and classifying the rupee’s exchange rate regime as a “crawling peg” within a managed float system.On the concern regarding data quality, Gupta said that the IMF’s critique is more procedural than substantive. “The point that they’re…
MUMBAI: A pro-growth monetary policy statement from RBI lifted investor sentiment on Dalal Street on Friday that lifted the sensex by nearly 450 points to close at 85,712 points. The rate cut decision, which is expected to aid banks’ lending business, led to a strong rally in banking stocks with SBI and HDFC Bank contributing…
Noel tata, Ratan Tata, Simone Tata MUMBAI: Former Tata Group director Simone Tata had transferred ownership of her assets, including Tata Sons shares, to her son and Tata Trusts chairman Noel Tata, said people in the know.The move, which took place some years ago, increased Noel’s stake in Tata Sons to 1%, making him the…
IndiGo CEO Pieter Elbers on Friday said the airline expects to cancel fewer than 1,000 flights on Saturday, adding that operations should return to normal between December 10 and 15.His message came on a day when the carrier scrapped more than 1,000 flights — over half its daily schedule — amid nationwide chaos triggered by…
Netflix was born out of the resentments of the video cassette age. Anyone who lived through the 1990s remembers the ritual: rushing to the local rental store on a Friday evening, discovering the last VHS copy was already gone and then returning the tape late on Monday morning, only to be punished with a fee…
Shares of InterGlobe Aviation, the parent of IndiGo, have fallen more than 7 per cent over the past four trading sessions as the airline battles a severe operational crisis that has triggered large-scale flight cancellations and left thousands of passengers stranded.On Friday, the stock slipped 1.22 per cent to close at Rs 5,371.30 on the…
The real wealth is built by showing up for the long, slightly boring, reliable relationship – not the latest exciting fling. (AI image) You don’t need to see business news channels to know when markets are doing well. You just need to attend a wedding.Suddenly, the cousin who never replied to your messages is giving…
