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<ul><li>‘Challenge accepted,’ said Gurnani to <keyword id="15681942" type="General" weightage="20" keywordseo="chatgpt" source="Orion">ChatGPT</keyword> maker OpenAI CEO <keyword id="257641" type="General" weightage="20" keywordseo="sam-altman" source="Orion">Sam Altman</keyword> who had said it was totally hopeless to compete with his company on training foundational AI models.</li><li>Gurnani has taken a contrarian stance to that of the industry recently on the <keyword id="64527" type="General" weightage="20" keywordseo="moonlighting" source="Orion">moonlighting</keyword> issue.</li><li>He had created a unique approach to downsizing when his company took over troubled Satyam Computers. </li></ul>Come December, <keyword id="351287" type="General" weightage="20" keywordseo="c-p-gurnani" source="Orion">C P Gurnani</keyword> is all set to hang his boots as <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword>’s CEO, but that’s not making him take a back seat. Unlike most tech CEOs and other top leaders in general, he is unafraid to speak his mind. So much so that Gurnani made OpenAI CEO Sam Altman back down and clarify his comments that it’s hopeless for India to compete with his company on AI. The first to respond was Gurnani who ‘accepted a challenge’ on behalf of India — to create a ChatGPT-like product. “From one CEO to another, challenge accepted,” Gurnani said after Altman said, “The way this works is we're going to tell you, it’s totally hopeless to compete with us on training foundational models, you shouldn’t try and it’s your job to try anyways,” responding to a question on the capability of small team of Indians to try it. Altman’s comments, however, ended up reportedly offending the likes of minister of state for IT and electronics, Rajeev Chandrasekhar. Meanwhile, the 64-year-old Gurnani, never one to shy away from taking on challenges or voicing his opinions, however contrary — has taken the bull by the horn one more time. A votary of moonlighting Not too long ago, when moonlighting was a hot debate, almost every tech major including Tata Consultancy Services (TCS) and Infosys opposed it calling it an ‘ethical issue’. In fact, Wipro’s executive chairman Rishad Premji was a vocal opponent, claiming to have fired people for taking up side hustles while being employed with the company and ‘working’ from home. Amidst a sea of dissent, Gurnani was one of the first voices who supported moonlighting – only asking his employees to be open about it. He asked them not to cover up the extra work as it would aid their resumes. “If you go by my word, if someone is meeting the efficiency and productivity norms, and he wants to make some extra money as long as he is not committing fraud, he is not doing something against the values and ethics of his company, I have no problem. I would like to make it a policy. So, if you want to do it, cheers to that, but be open about it," Gurnani had said. ‘People were not toxic’ Such out-of-the-box thinking and policies are not new for Gurnani. After the shocking Satyam scam, where its founder admitted to falsifying accounts, Mahindra &amp; Mahindra bought the company and brought Gurnani to run it. Almost all the employees of the beleaguered company had turned persona non grata. However, he said, “The company’s accounting books were toxic, the people were not.” Amidst dealing with legal and regulatory issues, he did roadshows lasting many months to convince clients to stay with the company. However, as the immediate task was to improve profitability of the company, he had to do what he dreaded — fire around 18,000 people. The firing was not done at one go however. The company gave a small salary for six months, set up job fairs, trained them and even had psychiatrists to help tide over the crisis – until they found another job. As with moonlighting and the Satyam restructuring, Gurnani brings his unique perspective to artificial intelligence (AI) as well. The chemical engineer from NIT Rourkela isn’t worried about AI taking over human jobs – he believes it will give humans more leeway to create emotional connections and relationships, and of course bring in more creativity to work and life.

C P Gurnani and the contrarian stance

IT company <keyword id="43217" type="General" weightage="100" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> expects to soon hit USD 7 billion revenue run rate for the current fiscal year, out of which the telecom vertical is estimated to contribute USD 3 billion, a top official of the company said on Monday. Tech Mahindra Managing Director and Chief Executive Officer CP <keyword id="45924" type="General" weightage="80" keywordseo="gurnani" source="Orion">Gurnani</keyword> told PTI that the company has hit a run rate of USD 1 billion (about Rs 8,300 crore), from 5G solutions that it provides to telecom companies. "We are at an annual revenue run rate of USD 6.6 billion. We expect to reach USD 7 billion run rate for this fiscal. Telecom vertical is expected to contribute USD 3 billion to this. We have already touched a revenue run rate of USD 1 billion from 5G services," Gurnani said at Mobile World Congress (MWC) 2023. Tech Mahindra posted a 5 per cent decline in consolidated profit after tax at Rs 1,297 crore for the December quarter. Revenue from operations, however, increased 20 per cent to Rs 13,734.6 crore from Rs 11,451 crore a year ago. Tech Mahindra President, Communications, Media and Entertainment Business, and CEO, <keyword id="659906" type="General" weightage="50" keywordseo="network-services" source="Orion">Network Services</keyword>, <keyword id="644257" type="General" weightage="50" keywordseo="manish-vyas" source="Orion">Manish Vyas</keyword> said 50 per cent of the company's business comes from the American region, 30 per cent from Europe and 20 per cent from the rest of the world. "We believe this trend will continue because we have invested in these geographies. All the sectors within telcos, be it the growth of fibre, fixed wireless, new product build and all the transformation on the digital side, have continued to provide us growth," he said. Talking about the impact of the global macroeconomic situation on the company, <keyword id="30343" type="General" weightage="80" keywordseo="vyas" source="Orion">Vyas</keyword> said uncertainty still remains across the globe and there will be intense pressure on the cost of services. "The overall macroeconomic situation still remains uncertain. People will need to conserve as we go forward. It is an important opportunity for us to continue to drive cost optimization through simplification. The broad macroeconomic situation also will evolve as we come out of this uncertain time. People will need to continue to innovate more. Particularly with the whole focus on generative AI as well as the way metaverse will be used by enterprises," he said. Vyas said that globally the company has acquired 42 new logos this year to whom it is providing network transformation including solutions for private 5G networks. "It is essentially a network on the cloud, software-defined network and private network. The growth driver has been a requirement of enterprises to simplify their operations and modernise tracking of their business data," he said. Gurnani said several companies are engaging with Tech Mahindra to simplify, modernise and monetise their networks, and the rollout of the 5G network across the globe will continue to drive the business of the company. "We are very keen to look at how the rollout of 5G and deployments will happen. It is a big year from a deployment standpoint. It is a big year for the modernisation of the digital stack. I think telcos will look to find adjacencies with fintech, learning, manufacturing, IoT etc for growth. We are very excited about 2023. There are a lot of case studies that will emerge in all these areas," Vyas said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/air-india-has-enormous-potential-efforts-on-to-make-it-a-key-global-player-ceo-wilson/articleshow/98269115.cms">Air India has enormous potential, efforts on to make it a key global player: CEO Wilson</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/karnataka-gujarat-ranked-best-performing-indian-states-in-clean-energy-transition-efforts-ieefa/articleshow/98269028.cms">Karnataka, Gujarat ranked best performing Indian states in clean energy transition efforts: IEEFA</a>

TechM expects $7 bn revenue run rate this fiscal, $3 bn from telecom

Tech Mahindra chief CP <keyword id="45924" type="General" weightage="100" keywordseo="gurnani" source="Orion">Gurnani</keyword> wants to transition from being a long serving captain in the IT industry to a "coach" after he retires from the company in December this year. The nomination and remuneration committee has extended the tenure of Gurnani till December 19, 2023 as it looks to work on the succession plan of Gurnani. While he did not divulge any further details on the succession plan, sources have indicated that internal candidates -- <keyword id="2493116" type="General" weightage="50" keywordseo="jagdish-mitra" source="Orion">Jagdish Mitra</keyword>, Manish <keyword id="30343" type="General" weightage="50" keywordseo="vyas" source="Orion">Vyas</keyword>, <keyword id="2173310" type="General" weightage="50" keywordseo="lakshmanan-chidambaram" source="Orion">Lakshmanan Chidambaram</keyword> are among top contenders for the post. Jagdish Mitra is currently serving as Chief Strategy Officer and Head of Growth, who has been with the group for last 30 years; Vyas is serving as President, Communications, Media and Entertainment Business, and CEO, Network Services and been with the company for last 23 years and <keyword id="6362104" type="General" weightage="50" keywordseo="chidambaram" source="Orion">Chidambaram</keyword>, currently serving as President for <keyword id="16133454" type="General" weightage="50" keywordseo="tech-mahindra-americas" source="Orion">Tech Mahindra Americas</keyword> and been with company since December 2012. Gurnani said that the succession plan will be finalised by the committee as per the corporate governance norms of the company. "I've done the same business for a very long time. I became a CXO at the age of 38 and am now stepping down at the age of 65. All I'm trying to say is that I've been a playing captain for a very long time. I will become a coach. I will no longer be a playing captain," Gurnani said. One of the longest serving CEOs in the technology sector, Gurnani told PTI that would like to see the other side of the world and pursue things that are close to his heart. "I have been one of the longest serving CEOs of the technology sector. I think it is fair that I get to see what the other side of the world looks like and I'm not talking about travel. I'm talking about a few things that I've always wanted to do in life. It is also good for the corporation that we get a new leader because a bit of rotation is like getting more oxygen into the system," Gurnani said. While talking about business, Gurnani said Tech Mahindra will continue to deepen its presence in Japan and Europe and look at opening delivery centres closer to the home of its employees. "I have always been a very big admirer of Japan, I will continue to create much deeper business interest in Japan. Frankly, I think Europe is a big opportunity now. Because overall Europe has felt the impact of the war. "The war has been closest to them. Every individual in Europe has paid a price by inflation and higher energy bills. I believe that some of our cost transformation initiatives would be very helpful to European clients. So, my focus will be Japan and Europe," he said. Gurnani said that the technology sector has matured and they have continued to serve their consumers, businesses, enterprises and corporates around the world by not taking a position. "The only area where there has been some conversations is there organizations which are using cyber attacks as a weapon," Gurnani said but declined to reveal further details. When asked about a broad strategic action plan that the company is planning to put in place this year, Gurani said that Tech Mahindra will look at distributing delivery centres across the country and near to the homes of its employees. "We continue to make technological investments in the future of technology. Right now it is AI, cloud, metaverse and we have already started investing in quantum computing. We want to be ahead of the curve. There are some of our products which I think will be able to commercialize them a lot better," Gurnani said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ril-q3-to-be-a-mixed-bag-muted-growth-in-o2c-robust-retail-and-jio-performance/articleshow/97094061.cms">RIL’s Q3 to be a mixed bag: Muted growth seen in O2C, robust performance projected for retail and Jio</a> <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-q3-net-profit-grows-69-yoy-to-1959-crore-margin-and-asset-quality-see-improvements/articleshow/97093861.cms">IndusInd Bank Q3 net profit grows 69% YoY to ₹1,959 crore, margin and asset quality see improvements</a> <a href="https://www.businessinsider.in/business/startups/news/udaan-shipped-over-1-7-billion-products-across-1200-cities-in-2022/articleshow/97086070.cms">Udaan shipped over 1.7 billion products across 1,200 cities in 2022</a>

Tech Mahindra CEO CP Gurnani looks to transition from captain to coach post retirement

<ul><li>One of the top five IT services companies, <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> reported a 25% decline in net profit for April-June quarter.</li><li>The management attributed the decline in profitability to rising employee benefits costs, which includes promotions and salary hikes.</li><li>However, high spending towards retaining employees by giving hikes and promotions has paid off the firm’s attrition rate, which has come down to 22% from 24% last quarter.</li><li>Tech Mahindra’s attrition is still better than peers Infosys (28.4%) and TCS (23.3%).</li></ul>A fourth of Tech Mahindra’s first quarter revenues were eaten up by employee expenses, pushing its profits down by 25% on a sequential basis. The company’s CEO C P Gurnani says that this wage hike has reduced its attrition by 2% from last quarter, and predicts that it will reduce by another 4% in six months. But when asked for specifics, he said, “Attrition is as hard to predict as death,” at the post-earnings press conference. Its total income grew marginally by around 3% to ₹12,830 crore sequentially. Its constant currency revenue growth stood at 3.5%, the company said in its press release. “We are confident that we will be presenting to you continuously over the next few quarters industry leading growth. We are also confident that we will have an opportunity to work on the profitability levers,” said Gurnani. High spending towards retaining employees by giving hikes and promotions has aided as Tech Mahindra’s attrition rate has come down to 22% from 24% last quarter. If it’s able to keep up with its predictions, in the next two quarters, it could come down to 18%. Tech Mahindra’s attrition is still better than peers Infosys which is at 28.4% and that of TCS at 23.3%. Tech Mahindra’s expenses shot up 30% on year and 7% sequentially in June quarter to ₹8,937 crore and most of it was due to wage hikes, promotions and more. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee benefit expenses </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,286 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,945 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,601 crore </td></tr></tbody></table> “Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY’23,” Rohit Anand, chief financial officer at Tech Mahindra said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,830 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,436 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,484 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,147 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,545 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,365 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Margin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.4% </td></tr></tbody></table> SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/policy/economy/news/house-of-cards-goldman-sachs-cuts-msci-china-index-earnings-forecast-to-zero/articleshow/93113216.cms">House of cards: Goldman Sachs cuts MSCI China's earnings forecast to zero</a> <a href="https://www.businessinsider.in/india/news/india-has-the-highest-rate-of-women-taking-action-against-harassment-calls-and-messages/articleshow/93107553.cms">India has the highest rate of women taking action against harassment calls and messages</a> <a href="https://www.businessinsider.in/science/health/news/monkeypox-outbreak-in-india-heres-what-we-know-so-far-about-symptoms-prevention-of-the-infection/articleshow/93111853.cms">Monkeypox outbreak in India: Here’s what we know so far about symptoms, prevention of the infection</a>

Attrition is as hard to predict as death says C P Gurnani after TechM loses profits to wage hikes

<ul><li>The annual compensation of top Indian IT CEOs in the IT sector ranges from ₹16 crore to ₹28 crore. </li><li>Rajesh Gopinathan of Tata Consultancy Services and Abidali (Abid) Z. Neemuchwala of Wipro were also featured in the CEOWORLD global rankings of the top CEOs across the globe. </li><li>Rajesh Gopinathan is one of the youngest CEOs in the Tata Group. </li></ul>The Indian IT sector has been <a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms">growing</a> at a healthy pace, unlike many other sectors which are on the edge of a downturn. A lot of this success is attributed to nimble strategies of the leadership in the sector, who succeeded in spite of the dynamic nature of the sector. It hence comes as no surprise that Rajesh Gopinathan of Tata Consultancy Services and Abidali (Abid) Z. Neemuchwala of Wipro were also featured in the <a href="https://www.businessinsider.in/heres-the-list-of-the-top-indian-ceos-featured-in-ceoworld-global-rankings/articleshow/70444805.cms">CEOWORLD global rankings</a> of the top CEOs across the globe Let us see how the CEOs of this sector are being compensated for their hard work and success. Here’s a list of annual compensation of top IT CEOs of the country right from <keyword id="328377" type="PERSON" weightage="20" keywordseo="Salil-Parekh">Salil Parekh</keyword> of Infosys to CP Gurnani of Tech Mahindra: 
	
	
	<div type="Slideshow" msid="70548354" hostid="261" title="Here’s the list of India's highest-paid tech CEOs" firstImageMsid="70548471" slideCount="5"></div>

Here’s the list of India's highest-paid tech CEOs

A recent firing at <keyword id="43217" type="CITY" weightage="100" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> has stepped up the fear among mid-senior techies about instability in the industry where handing over of pink slips is no longer a hush-hush phenomenon. The phone call recording that went viral last week has an HR staff asking an associate to put down his papers by the next day morning, failing to which would make the employer send termination letter. In the age of internet, the recorded clip on <keyword id="881139" type="COMPANY" weightage="20" keywordseo="SoundCloud">SoundCloud</keyword> has gone viral and Tech Mahindra has received enough digital hatred for such weak HR policy. The case has reached the upper management to a level when <keyword id="46425" type="PERSON" weightage="100" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, Chairman and <keyword id="4741088" type="UNKNOWN" weightage="20" keywordseo="md-of-mahindra-group">MD of Mahindra Group</keyword> has apologised for sacking in this manner and assured no such instances in future. In an open social media post, he wrote, “"I want to add my personal apology. Our core value is to preserve the dignity of the individual and we'll ensure this does not happen in future.” CP <keyword id="45924" type="PERSON" weightage="20" keywordseo="Gurnani">Gurnani</keyword>, managing director at Tech Mahindra, tweeted, "I deeply regret the way the HR rep &amp; employee discussion was done. We have taken the right steps to ensure it doesn't repeat in the future.” Here’s the recorded clip of the conversation &lt;iframe width="100%" height="166" scrolling="no" frameborder="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/331810449&amp;amp;color=ff5500"&gt;&lt;/iframe&gt; Though Tech Mahindra has issued a statement regretting the manner of the exit interview, it said "alignment, of the workforce will carry on. We continue to implement strategies to implement the changing demands of business in the current global economic environment and align our workforce with the business objectives, strategic priorities of the organisations, and requirements of our clients.”

Tech Mahindra fires employee giving 24-hour notice; Anand Mahindra apologises

<keyword id="1526354" type="UNKNOWN" weightage="100" keywordseo="Spuul">Spuul</keyword>, the popular online streaming service for Indian cinema content is featuring <a href="http://www.businessinsider.in/searchresult.cms?query=yash+raj+films&amp;sortorder=effectivedate">Yash Raj Films</a>’ latest blockbuster ‘<a href="http://www.businessinsider.in/searchresult.cms?query=sultan&amp;sortorder=effectivedate">Sultan</a>’ digitally by adding it to its catalogue of movies. The movie will be available across devices like Web, mobile (iOS, <keyword id="6355645" type="COMPANY" weightage="100" keywordseo="android">Android</keyword>), Smart TV (Samsung, Panasonic, LG), Airplay on iOS, Fire on Amazon and Chromecast on Android to viewers all over the world. 
 <keyword id="6355056" type="CITY" weightage="100" keywordseo="Sultan">Sultan</keyword>, one of the highest grossing Indian films of all time, is a 2016 Indian romantic sports-drama film directed by <keyword id="6368814" type="PERSON" weightage="100" keywordseo="Ali-Abbas-Zafar">Ali Abbas Zafar</keyword>. Produced by <a href="http://www.businessinsider.in/searchresult.cms?query=aditya+chopra&amp;sortorder=effectivedate">Aditya Chopra</a> under the Yash Raj Films banner, the film stars <keyword id="6354583" type="PERSON" weightage="100" keywordseo="Salman-Khan">Salman Khan</keyword> opposite <a href="http://www.businessinsider.in/searchresult.cms?query=anushka+sharma&amp;sortorder=effectivedate">Anushka Sharma</a>. The film focuses on Sultan Ali Khan, a wrestling champion from Haryana, whose successful career creates a rift in his personal life. 
 
 
 
 
Speaking at this milestone, Subin Subaiah, CEO, Spuul Global, said, “With increased internet penetration, smartphone usage and the increasing affordability of data plans, there is also increase in the amount of viewers moving online to consume content. At Spuul, we are constantly striving to bring the latest, best and most awaited films to our viewers in our endeavor to bridge the gap between a film’s theatrical and digital release. Sultan is just another of our steps in this direction.” 
 “Our association with Spuul goes back a long way, with Spuul providing our films with a platform to reach out to viewers in the most remote corners of the world - We believe Sultan will get the same or more traction that our previous films have received thus far”, said <keyword id="652793" type="PERSON" weightage="100" keywordseo="Anand-Gurnani">Anand Gurnani</keyword>, Vice President – Digital, Yash Raj Films Pvt. Ltd.

Now, you can watch Salman Khan's Sultan on Spuul

Continuing its acquisition spree, <keyword id="43217" type="CITY" weightage="100" keywordseo="Tech-Mahindra">Tech Mahindra</keyword>, the IT arm of the <keyword id="6355744" type="CITY" weightage="100" keywordseo="Mahindra-Group">Mahindra group</keyword>, has agreed to buy UK-based digital technology firm <keyword id="3436035" type="UNKNOWN" weightage="100" keywordseo="The-BIO-Agency">The BIO Agency</keyword> for an enterprise value of 40 million pounds. The deal also includes a surplus cash component not exceeding more than 5 million pounds. 
 
It was only last month that the company had bought UK-based financial services firm Target Group in a deal that was valued at more than 112 million pounds. 
 "The BIO Agency and Tech Mahindra will create one of the world's leading innovation practices. A combination of BIO's visionary thinking and delivery with Tech Mahindra's IT to Digital Transformation strategy will enable and create digital services," said Tech Mahindra CEO <keyword id="45959" type="ORGANIZATION" weightage="100" keywordseo="CP-Gurnani">CP Gurnani</keyword>. 
 
As per the deal, the company will pay 22 million pounds and the surplus cash upfront while the rest will be deferred, depending on how BIO Agency performs. 
 
The rewards given to the management of BIO Agency will also depend on the revenue that tbey will be bringing in over the next three years. 
 
For fiscal 2016, BIO had revenue of 12.5 million pounds, while for the year before that, it had revenue of 5.2 million pounds. 
 
<a href="http://easynaukari.com/wp-content/uploads/2015/11/tech-mahin.jpg">Image source</a>

Tech Mahindra continues to expand, buys UK-based digital firm for £40 million

After Cholamandalam and <keyword id="3377501" type="UNKNOWN" weightage="100" keywordseo="Dilip-Shanghvi-IDFC-Bank-Telenor">Dilip Shanghvi-IDFC Bank-Telenor</keyword> combine, <keyword id="43217" type="CITY" weightage="100" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> has become the third entity to have dropped out of the payments bank race. 
 
The firm has cited that the business would take a lot of time to turn profitable because of "aggressive posturing" by deep-pocketed global competitors. 
 
Cholamandalam had quit the race in April, while Dilip Shanghvi-IDFC Bank-Telenor combine announced their decision last Friday. 
 "Over a period of time, we have realised that the amount of aggression that has come into the marketplace only erodes the margins," said Tech Mahindra MD and CEO <keyword id="45959" type="ORGANIZATION" weightage="100" keywordseo="CP-Gurnani">CP Gurnani</keyword>. 
 
The Reserve Bank of India had given in-principle approval for payments banks to TechM and 10 others in August 2015. 
 
Gurnani further added that payments bank business always carried the risk of profit margins being "razor thin," but the competition they would face includes the who's who of the telecom world, including the Ambanis, the Birlas, Airtel and Vodafone, among others, thus delaying profitability for a long time. 
 The announcement has come just a day after RBI deputy governor <keyword id="1531843" type="COMPANY" weightage="100" keywordseo="S-S-Mundra">S S Mundra</keyword> had said that it was not fair of licencees to abandon their plans to set up payments banks. "We would certainly feel little aggrieved because lot of efforts from the part of RBI go in processing these applications," Mundra has said. 
 
<a href="https://i.ytimg.com/vi/_7G6qYLELes/maxresdefault.jpg">Image source</a>

Tech Mahindra chickens out of payments bank race, cites delayed profitability and tough competition

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> depreciated 15 paise to 81.45 against the US dollar in early trade on Thursday, weighed down by a muted trend in domestic equities and foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.45 against the dollar, registering a decline of 15 paise over its last close. In initial trade, the rupee also touched an early high of 81.27 against the US dollar. In the previous session on Wednesday, the rupee settled at 81.30 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.09 per cent to 102.26. Brent crude futures, the global oil benchmark, declined 1.18 per cent to $83.98 per barrel. Forex traders expect the rupee to trade with a slight negative bias on global economic concerns. IMF managing director Gita Gopinath warned of a tough year in 2023 for the global economy. The global economy is facing a unique situation due to unprecedented levels of high inflation and that is causing tension between monetary and fiscal policies, IMF's Gita Gopinath said on Wednesday. In the domestic equity market, the 30-share BSE Sensex was trading 140.49 points or 0.23 per cent lower at 60,905.25. The broader NSE Nifty declined 65.45 points or 0.36 per cent to 18,099.90. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 319.23 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/33-parents-say-their-children-were-approached-by-strangers-on-online-platforms-cry-study/articleshow/97115067.cms">33% parents say their children were approached by strangers on online platforms: CRY study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tech-mahindra-ceo-cp-gurnani-looks-to-transition-from-captain-to-coach-post-retirement/articleshow/97120238.cms">Tech Mahindra CEO CP Gurnani looks to transition from captain to coach post retirement</a>

Rupee falls 15 paise to 81.45 against US dollar

<ul><li>The country's current account deficit (<keyword id="52599" type="General" weightage="80" keywordseo="cad" source="Orion">CAD</keyword>) widened to 4.4 per cent of the GDP in the quarter that ended September from 2.2 per cent in April-June.</li><li>In the opening trade on Tuesday, the rupee depreciated 12 paise to 81.64 against the US dollar </li><li>According to the survey, while commodity prices have retreated from record highs, they are still above the "pre-conflict" (Russia-Ukraine war) levels.</li></ul> The Indian rupee may remain under depreciation pressure on account of plateauing of exports and subsequent widening of the current account deficit, said the <keyword id="6354872" type="General" weightage="20" keywordseo="economic-survey" source="Orion">Economic Survey</keyword> 2022-23 tabled in <keyword id="6354721" type="General" weightage="80" keywordseo="parliament" source="Orion">Parliament</keyword> on Tuesday. It said the "risks to the current account balance stem from multiple sources". The country's current account deficit (CAD) widened to 4.4 per cent of the GDP in the quarter that ended September from 2.2 per cent in April-June due to a higher trade gap, as per the latest data of the <keyword id="6354335" type="General" weightage="80" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>. In the opening trade on Tuesday, the rupee depreciated 12 paise to 81.64 against the US dollar, weighed down by significant foreign fund outflows and a muted trend in domestic equities. Amid the geopolitical situation and tightening of monetary policy by the <keyword id="117388" type="General" weightage="80" keywordseo="us-fed" source="Orion">US Fed</keyword>, the Indian rupee has remained under pressure and even breached the 83-mark to the US dollar. According to the survey, while commodity prices have retreated from record highs, they are still above the "pre-conflict" (Russia-Ukraine war) levels. Strong domestic demand amid high commodity prices will raise India's total import bill and contribute to unfavourable developments in the current account balance, it said. "These may be exacerbated by plateauing export growth on account of slackening global demand. Should the current account deficit widen further, the currency may come under depreciation pressure," said the key document released a day before the presentation of the Union Budget 2023-24. The survey is a government commentary on the economic developments and related aspects during 2022-23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/demand-is-strong-but-decisions-are-slow-tech-mahindra-ceo-cp-gurnani/articleshow/97474512.cms">Demand is strong but decisions are slow: Tech Mahindra CEO CP Gurnani</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-fpo-subscription-details-stock-price/articleshow/97476824.cms">Adani Group stocks continue to witness volatility: Adani Enterprises FPO subscribed 20% so far</a>

Rupee may remain under depreciation pressure, says Economic Survey

<keyword id="10387" type="General" weightage="20" keywordseo="Microsoft" source="Orion">Microsoft</keyword> chairman and CEO <keyword id="276564" type="General" weightage="20" keywordseo="Satya-Nadella" source="Orion">Satya Nadella</keyword> believes that the golden age of <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword> is "underway" and it will redefine work and businesses as we know them. In a session at the ongoing five-day annual meeting of the World Economic Forum, Nadella said that technology will provide more and more ways to bring people together. "Microsoft is opening up access to new AI tools like <keyword id="15681942" type="General" weightage="20" keywordseo="ChatGPT" source="Orion">ChatGPT</keyword>," Nadella was quoted in a WEF release on Wednesday (local time). "I see these technologies acting as a co-pilot, helping people do more with less." The cutting-edge chatbot ChatGPT is capturing the world's imagination. The new artificial intelligence site amassed 1 million users in just five days after its recent launch. It is but one of a dozen AI-driven so-called apps that are expected to transform human productivity and the future of work. ChatGPT answers complex questions via short prompts on a vast array of topics and even writes lyrics and poetry. During the session, he provided two anecdotes of recent use cases of <keyword id="16130348" type="General" weightage="20" keywordseo="GPT-technology" source="Orion">GPT technology</keyword>. The first one he cited was about an expert coder from Silicon Valley who improved their productivity by 80 per cent by using the model to help write better code faster. The second was an Indian farmer who was able to use a GPT interface to access an opaque government programme via the internet, despite only speaking a local dialect. "AI is just at the beginning of the S-curve," Nadella further said, adding that the near-term and long-term opportunities are enormous. Looking ahead, he said Microsoft intends to lead on quantum computing. Microsoft has all the building blocks for a next-generation quantum computer. Speaking about sustainability, the Microsoft chief said it is at the core of the business. "By 2050 Microsoft aims to not just be carbon-neutral but carbon-negative." In 2022, the tech giant released Cloud for Sustainability, bringing together a growing set of environmental, social and governance (ESG) capabilities across the <keyword id="16130349" type="General" weightage="20" keywordseo="Microsoft-cloud-portfolio" source="Orion">Microsoft cloud portfolio</keyword> plus solutions from the firm's global ecosystem. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tech-mahindra-ceo-cp-gurnani-looks-to-transition-from-captain-to-coach-post-retirement/articleshow/97120238.cms">Tech Mahindra CEO CP Gurnani looks to transition from captain to coach post retirement</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/we-need-to-go-to-theatres-enough-with-the-streaming-already-james-cameron-says/articleshow/97122924.cms">We need to go to theatres. Enough with the streaming already, James Cameron says</a>

Satya Nadella says golden age of AI is here, and will redefine work, businesses

Award-winning filmmaker <keyword id="47027" type="General" weightage="80" keywordseo="james-cameron" source="Orion">James Cameron</keyword>'s '<keyword id="44111" type="General" weightage="20" keywordseo="Avatar" source="Orion">Avatar</keyword>' franchise was made for viewing in premium large format theatres such as IMAX 3D and Dolby Cinema, but that doesn't mean watching the movies at home is a bad idea. The Oscar-winning director recently spoke about different viewing methods for 'Avatar', and he said a "good experience" can still be achieved at home, reports 'Variety'. "If you watch '<keyword id="13787418" type="General" weightage="50" keywordseo="way-of-water" source="Orion">Way of Water</keyword>' at home on a reasonably large flat screen TV with a decent sound system and you sit close enough and that way across the room, you're going to have a good experience," <keyword id="6375620" type="General" weightage="100" keywordseo="cameron" source="Orion">Cameron</keyword> said. Watching 'Avatar' on your phone is where Cameron draws a line, but it has nothing to do with the size of the screen. As the director said, "When you start looking at something on a phone, you're sort of missing the point. Going to a movie theatre is less about the size of the screen and the perfection of the sound system. And it's more about a decision to not multitask." "I think that's the critical part that people are missing," the director continued. "You're making a deal between yourself and a piece of art to give it your full attention. And you don't when you're at home. People don't cry as much when they watch a movie at home as they will in a movie theatre. You don't have the depth of emotion." Cameron expressed a similar opinion earlier this month during an interview with 'Variety' on the Golden Globes red carpet. "When we go to the movies we make a deal with ourselves to have undivided attention for a couple of hours," he said. "It's about immersing yourself...choosing to commit to that ahead of time." 'Avatar: The Way of Water' just surpassed 'Spider Man: No Way Home' at the worldwide box office to become the sixth-biggest film in history with $1.92 billion. It's all but certain 'The Way of Water' will cross the $2 billion mark. Cameron celebrated the box office milestone by telling 'Variety' that the 'Avatar' sequel's success is proof that movie theatres still matter. "We're going back to theatres around the world," Cameron said. "They're even going back to theatres in China where they're having this big COVID surge. We're saying as a society, 'We need this! We need to go to theatres.' Enough with the streaming already! I'm tired of sitting on my ass." 'Avatar: The Way of Water' is now playing in theatres nationwide. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ril-q3-to-be-a-mixed-bag-muted-growth-in-o2c-robust-retail-and-jio-performance/articleshow/97094061.cms">RIL’s Q3 to be a mixed bag: Muted growth seen in O2C, robust performance projected for retail and Jio</a> <a href="https://www.businessinsider.in/business/news/soothing-personal-content-top-draws-for-online-audience-in-2022/articleshow/97086303.cms">Soothing &amp; personal content top draws for online audience in 2022 – Hybrid creators &amp; communities to rule in 2023</a> <a href="https://www.businessinsider.in/business/news/tech-mahindra-ceo-cp-gurnani-looks-to-transition-from-captain-to-coach-post-retirement/articleshow/97120238.cms">Tech Mahindra CEO CP Gurnani looks to transition from captain to coach post retirement</a>

We need to go to theatres. Enough with the streaming already, James Cameron says

Filmmakers <keyword id="3162130" type="General" weightage="20" keywordseo="vinod-bhanushali" source="Orion">Vinod Bhanushali</keyword> and <keyword id="6354782" type="General" weightage="20" keywordseo="sandeep-singh" source="Orion">Sandeep Singh</keyword> have come together to bring on-screen the life of late Prime Minister <keyword id="47100" type="General" weightage="20" keywordseo="atal-bihari-vajpayee" source="Orion">Atal Bihari Vajpayee</keyword>. The biopic is titled 'Main Rahoon Ya Na Rahoon, Yeh Desh Rehna Chahiye - ATAL'. The film is an adaptation of the book 'The Untold Vajpayee: Politician and Paradox' by renowned author Ullekh N.P. Talking about the film, Vinod said, "I have been a great fan of Atalji all my life. A born leader, a statesman par excellence, a visionary. Shri Atal Bihari Vajpayee ji was all the above. His contribution to our nation-building is unparalleled, and it is our great honour that Bhanushali Studios Ltd is bringing his legacy to the silver screen." Adding to that Sandeep Singh shared, "Being a filmmaker, I feel that cinema is the best medium to communicate such untold stories, that will unveil not only his political ideologies, but his humane and poetic aspects, that made him the most loved leader of the opposition as well as India's most progressive Prime Minister." The makers, who are scouting for the actor to portray the role of Atalji, will soon announce the actor and director of the film. Scheduled to go on floors in early 2023, the film will be released on Christmas 2023, which marks the 99th birth anniversary of Bharat Ratna Atal Bihari Vajpayee. 'Atal' is presented by Bhanushali Studios Limited and Legend Studios, and is produced by Vinod Bhanushali, Sandeep Singh, Sam Khan, Kamlesh Bhanushali and Vishal Gurnani, and co-produced by Juhi Parekh Mehta, Zeeshan Ahmad and Shivv Sharma. SEE ALSO: <a href="https://www.businessinsider.in/education/news/coaching-classes-and-edtechs-make-the-most-false-claims/articleshow/92518895.cms">Parents beware: Coaching classes and edtechs make the most false claims</a> <a href="https://www.businessinsider.in/tech/gadgets/news/realme-techlife-watch-r100-review/articleshow/92515922.cms">Realme TechLife Watch R100 review – decent performance with some room for improvement</a> <a href="https://www.businessinsider.in/stock-market/news/paytm-is-on-the-cusp-of-a-cup-and-holder-breakout-explaining-the-rally/articleshow/92517971.cms">Paytm is on the cusp of a ‘cup and holder breakout’ — explaining the rally</a>

You Searched For "gurnani" and got 14 results

C P Gurnani and the contrarian stance

Katya Naidu

TechM expects $7 bn revenue run rate this fiscal, $3 bn from telecom

PTI

Tech Mahindra CEO CP Gurnani looks to transition from captain to coach post retirement

PTI

Attrition is as hard to predict as death says C P Gurnani after TechM loses profits to wage hikes

Bhakti Makwana

Here’s the list of India's highest-paid tech CEOs

Prerna Sindwani

Tech Mahindra fires employee giving 24-hour notice; Anand Mahindra apologises

BI India Bureau

Now, you can watch Salman Khan's Sultan on Spuul

BI India Bureau

Tech Mahindra continues to expand, buys UK-based digital firm for £40 million

BI India Bureau

Tech Mahindra chickens out of payments bank race, cites delayed profitability and tough competition

BI India Bureau

Rupee falls 15 paise to 81.45 against US dollar

PTI

Rupee may remain under depreciation pressure, says Economic Survey

PTI

Satya Nadella says golden age of AI is here, and will redefine work, businesses

ANI

We need to go to theatres. Enough with the streaming already, James Cameron says

IANS

Atal Bihari Vajpayee's biopic is on the works based on the book, The Untold Vajpayee

IANS

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