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Technology solutions company Cyient on Monday announced to acquire Finland-based <keyword id="1920275" type="General" weightage="100" keywordseo="citec" source="Orion">Citec</keyword>, a global plant and product engineering services company, for an undisclosed sum. According to Cyient, this is the largest outbound acquisition by an Indian engineering services company and its largest acquisition to date. The acquisition will strengthen its presence in the energy industry with a focus on clean energy and expand its European footprint in the Nordic countries of Finland, Norway and Sweden, along with Germany and France, the company said in a statement. "This acquisition will allow us to take our combined plant engineering and digital solutions portfolio to a new set of customers who have extensive manufacturing facilities globally," said <keyword id="343552" type="General" weightage="50" keywordseo="krishna-bodanapu" source="Orion">Krishna Bodanapu</keyword>, Managing Director and CEO, Cyient. Founded in 1984, Citec is currently serving customers across the energy, process, oil and gas, and manufacturing industries. "The large international organisation of Cyient, with more than 14,000 experts, enables new offerings to our customers, as well as new opportunities for our employees," said <keyword id="13698584" type="General" weightage="50" keywordseo="johan-westermarck" source="Orion">Johan Westermarck</keyword>, CEO, Citec. Citec currently employs more than 1,200 persons worldwide. "<keyword id="13698585" type="General" weightage="50" keywordseo="through-cyient" source="Orion">Through Cyient</keyword>, we can provide customers a much more comprehensive set of services and solutions, such as the utilisation of Cyient's strong digital offering," Westermarck added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/amazon-brings-metaverse-to-the-e-commerce-segment-with-augmented-rooms/articleshow/90999305.cms">Amazon brings Metaverse to the e-commerce segment with augmented rooms</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/researchers-have-discovered-a-de-ageing-technique-that-made-skin-cells-30-years-younger/articleshow/91004651.cms">Researchers have discovered a de-ageing technique that made skin cells 30 years younger</a>

Indian tech firm Cyient acquires Finland-based global plant Citec, aims to expand its European footprint

<ul><li>Cyient DLM looks to raise ₹740 crore through a fresh issue of equity shares.</li><li>The company is a wholly owned subsidiary of IT services company Cyient, which is listed on Indian stock exchanges.</li><li>The company is a qualified supplier to global original equipment manufacturers (OEMs) in the aerospace and defence, medical technology and industrial sectors.</li><li>China plus one strategy is aiding the company by providing opportunities to grow its business and market share, it says in its DRHP. </li></ul>Electronic manufacturing services and solutions provider Cyient DLM filed its draft red herring prospectus (DRHP) papers with market regulator SEBI to raise funds through an initial public offering (IPO). The company is a wholly owned subsidiary of IT services company Cyient, which is listed on Indian stock exchanges. Cyient has informed investors in a BSE statement that its subsidiary may also consider raising up to ₹148 crore prior to the filing of the red herring prospectus with the registrar of companies. If it raises funds through the pre-IPO placement, the fresh issue size will be reduced accordingly. Cyient DLM is looking to raise ₹740 crore through a fresh issue of equity shares. The proceeds from the IPO will be utilised towards funding incremental working capital, capital expenditure, repayment of loans, achieving inorganic growth through acquisitions and general corporate purposes. The company is a qualified supplier to global original equipment manufacturers (OEMs) in the aerospace and defence, medical technology and industrial sectors. It claims to be amongst few electronic manufacturing services (EMS) companies in India catering to highly regulated industries; and the largest supplier of EMS services to the aerospace and defence industry. Its offerings include printed circuit boards, cable harnesses, and box builds which are used in safety critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment. Some of its marquee customers are Honeywell International, Thales Global Services SAS, ABB Inc, Bharat Electronics and Molbio Diagnostics. It has manufacturing facilities in Mysuru, Hyderabad and Bengaluru. China plus 1 strategy The company in its DRHP said that India is well positioned to benefit from global original equipment manufacturer’s (OEM) strategy towards China plus 1 strategy for supply chain diversification. China leads the global electronic manufacturing services business, and had 46.7% share in 2021. It is a global leader due to operational cost benefits, availability of a large number of highly skilled personnel, infrastructure, logistical advantages, and proximity to the largest end user base across all end-user verticals, the company says. “However, many global electronics manufacturers are now contemplating on China + 1 strategy and looking for alternate manufacturing locations for exports, creating tremendous investment potential for countries like Vietnam, India, and the Philippines etc,” said the draft red herring prospectus. Its order book has increased to ₹1,202 crore as on March 2022 from ₹906 crore in the previous year. The company is heavily dependent on ten customers as 93.24% of its revenues came from them in FY22. Its dependence on these customers has gone up slowly but steadily to 90.8% in FY21 and 89.3% in FY20. The profitability of the company has more than tripled in FY22 from the previous financial year at ₹39.7 crore. <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;">Revenue from operations </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;">Profit for the period </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;">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;">₹720 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;">₹39.7 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;">FY21 </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;">₹628 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;">₹11.8 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;">FY20 </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;">₹457 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;">-₹6.7 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/this-shark-tank-india-s2-winner-bowls-judges-over-with-its-for-profit-approach-to-social-impact-haqdarshak/articleshow/96906954.cms">This Shark Tank India S2 winner bowls judges over with its for-profit approach to social impact</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/net-inflows-in-mf-schemes-up-three-times-at-7303-crore-in-december/articleshow/96881163.cms">Investors continue to SIP on equities: Net Inflows in MF schemes up three times at ₹7,303 crore in December</a>

Cyient subsidiary files draft papers with SEBI for IPO worth ₹740 crore

<ul><li>As of 5 pm on Friday, no qualified institutional buyers or QIBs had bid for the issue. </li><li>The interest from retail and non-institutional investors was also very low. </li><li>Two other IPOs – that of drone maker IdeaForge and circuit board maker Cyient DLM – closed on Friday. </li></ul>The public issue of construction company <keyword id="13458156" type="General" weightage="20" keywordseo="pkh-ventures" source="Orion">PKH Ventures</keyword> received a tepid response from all classes of investors as only 6% of it was subscribed overall on the first day of the issue on Friday. As of 5 pm on Friday, no qualified institutional buyers or QIBs had bid for the issue. The interest from retail and non-institutional investors was also very low. Two other IPOs closed on Friday – while drone maker IdeaForge’s public issue was subscribed 106 times, circuit board maker Cyient DLM’s IPO was subscribed 67 times on the last day of their issue. <keyword id="17858592" type="General" weightage="20" keywordseo="pkh-ventures-ipo-subscription" source="Orion">PKH Ventures IPO subscription</keyword> details <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;">Category </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;">No. of times subscribed </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;">QIBs </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;">0.00 </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;">Non institutional investors </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;">0.10 </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;">Retail </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;">0.13 </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;">Total </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;">0.06 </td></tr></tbody></table>Source: BSE The <keyword id="13458157" type="General" weightage="20" keywordseo="pkh-ventures-ipo" source="Orion">PKH Ventures IPO</keyword> closes on July 4. The price band for the shares has been fixed at ₹140-148 apiece. The company intends to raise as much as ₹379 crore via the public issue. The issue comprises an offer for sale and a fresh issue of shares – which will be used to invest in subsidiaries, long-term working capital need, pursuing inorganic growth through and towards general corporate purposes. The bids will be received in 100 equity shares and in multiples thereof. The company is in the business of construction and development, hospitality and management services. Its net profit grew by 32% to ₹40.5 crore in FY22, as compared to the year before. Its revenue, however, fell by 17.4% to ₹199 crore in the same period. Failure to obtain new civil contracts, delay or cessation of annuity payments, weather risks for its hydro projects are some of the risks associated with the company. The grey market premium, i.e. the premium at which the IPO shares trade in an unofficial market, is at ₹5, as per media reports. SEE ALSO <a href="https://www.businessinsider.in/business/news/the-indian-wine-market-is-growing-as-millennials-seek-experience-over-intoxication/articleshow/101380193.cms">The Indian wine market is growing as millennials seek experience over intoxication</a> <a href="https://www.businessinsider.in/business/startups/news/indias-five-smartest-angel-investors-who-are-close-to-cracking-the-unicorn-code/articleshow/101361142.cms">Anupam Mittal to Snapdeal founders: Meet the smartest Indian angels cracking the unicorn code</a>

PKH Ventures IPO subscribed 6% on day 1 as retail, institutional interest remain muted

IPO gold rush: All but 4 IPOs in FY24 gave positive returns on listing

<ul><li>The earnings of most Indian IT services companies in Q1 exceeded analysts’ expectations.</li><li>Big wigs like <keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> and <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> are busy bagging big deals with a CEO change at <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> and HCL Technologies’ focusing on consolidation. </li><li>Motilal Oswal Securities has upgraded its earnings expectations for five out of seven <keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> in the current financial year.</li></ul>There are three things that keep an IT services firm going ⁠— new deals, strong profit margin, and the strength of its employee pool, both in terms of skills and numbers. India’s top tech firms like Infosys, <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword> and Wipro have shown promise on all these accounts. TCS fared just as well on everything except the margin. Five of the seven Indian IT companies, analysed by broking firm Motilal Oswal, have seen an earnings upgrade of at least 10% based on the factors mentioned above. <div type="image" title="IT earnings" msid="77082386" hostid="261" caption="&amp;lt;p&amp;gt;Earnings expectations upgrade for FY21&amp;lt;/p&amp;gt;"></div> New deals ⁠— TCS and Infosys beat others in bagging large contracts <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Company </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;">Total contract value (TCV) in April-June </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;">Number of new clients </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;">TCS </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;">$6.9 billion </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;">80 </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;">Infosys </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;">$1.74 billion (excluding Vanguard) </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;">47 </td></tr></tbody></table>Source: Company filings For Infosys, the biggest scalp may be the Vanguard deal, which is yet to be finalised. It is reportedly going to be worth $1.5 billion. Sources told <a href="https://timesofindia.indiatimes.com/business/india-business/infosys-vanguard-deal-value-pegged-at-1-5-billion/articleshow/77057344.cms#:~:text=Infosys%20won%20the%20deal%20in,Wipro%20in%20the%20final%20lap.&amp;text=Infosys%20is%20said%20to%20have,onto%20a%20cloud%2Dbased%20platform.">The Times of India </a>that the scope of the work could last 10 years with the total contract value could exceed $2 billion. For TCS, some of the largest deals came from communication, media and information, according to the CEO <keyword id="1422411" type="PERSON" weightage="20" keywordseo="Rajesh-Gopinathan">Rajesh Gopinathan</keyword>. HCL Tech had a different experience. While it did close 11 new deals in the last three months, its clients preferred to opt for fewer or cheaper services. “We believe the primary factor for consistent pressure is due to a delay in both projects renewal and ramp-up of new projects,” said ICICI Securities. Wipro had just 2 new deals in the same period but it is pinning a lot of hope on its new CEO, Theirry Delaporte, who is focused on ‘profitable growth’. He highlighted that cloud and other digital technology is expected to accelerate in the future and will be the key focus of the company. Everyone managed to expand margins except TCS Infosys, along with Wipro, Mindtree and L&amp;T Infotech also witnessed sequential margin expansion. “TCS and Cyient have seen relatively stronger margin impact,” noted Motilal Oswal Securities. <div type="image" title="Indian IT Companies Margins" msid="77082459" hostid="261" caption="&amp;lt;p&amp;gt;Quarter-on-quarter review of margins for top 7 Indian IT services companies&amp;lt;/p&amp;gt;"></div> Indian IT companies are looking to increase lateral hiring Most Indian IT companies had decided to suspend hiring or go slow during April through to June. However, with uptake in demand and the inflow of freshers going slow, company’s have chosen to hire laterally. <div type="image" title="attrition rates it companies" msid="77082511" hostid="261" caption="&amp;lt;p&amp;gt;Attrition levels at the Infosys, Wipro, TCS and HCL tech over the last five quarters&amp;lt;/p&amp;gt;"></div> “IT firms managed to shift to remote operations with agility, which has been well received by global clientele,” said Motiwal Oswal Securities. The virtual on-boarding of employees has allowed companies to agility to <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-wipro-open-up-lateral-hiring-as-more-people-walk-out-the-door-during-the-covid-19-pandemic/articleshow/77045880.cms">hire for roles in segments that are seeing the most demand. </a> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Company </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;">Target price </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;">TCS </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;">₹ 2300 </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;">Infosys </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;">₹ 1050 </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;">HCL Tech </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;">₹ 765 </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;">Wipro </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;">₹ 257 </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;">L&amp;T Infotech </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;">₹ 2545 </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;">Mindtree </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;">₹ 1160 </td></tr></tbody></table>Source: Motilal Oswal Securities SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-hcl-tech-and-tech-mahindra-to-gain-from-amazon-google-and-microsoft-spending-more-on-technology/articleshow/76334123.cms">TCS, Infosys, HCL Tech and others will gain from Microsoft, Amazon and Google spending more on technology</a> <a href="https://www.businessinsider.in/business/corporates/news/hiring-at-infosys-and-tech-mahindra-is-down-40-in-line-with-the-trend-in-top-five-it-firms-and-its-not-just-because-of-covid-19/articleshow/75669358.cms">Hiring at Infosys and Tech Mahindra is down at least 40% in line with the trend in top five IT firms⁠— and it's not just because of COVID-19</a> <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-wipro-open-up-lateral-hiring-as-more-people-walk-out-the-door-during-the-covid-19-pandemic/articleshow/77045880.cms">TCS, Infosys, HCL Tech and Wipro open up lateral hiring as more people walk out the door during the COVID-19 pandemic</a>

Why TCS, Infosys, Wipro and HCL Tech can expect better earnings this year ⁠— here’s what’s working for each one of them

<ul><li>US President <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword> met with some of India’s biggest businessmen during his two-day visit. </li><li>Reliance Industries chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> informed Trump that <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> is the only company in the world that doesn’t use Chinese components. </li><li>Mahindra Group chairman <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword> told Trump that his company would be happy to invest another billion dollars in the US if the upcoming bid for US Postal Service delivery vans comes through. </li></ul>One of the last events of US President Donald Trump’s two-day visit to India was a <a href="https://www.businessinsider.in/india/news/day-one-of-donald-trumps-india-visit-these-are-all-the-highlights/articleshow/74277019.cms">tete-a-tete</a> with some of the country’s biggest businessmen. Trump <a href="https://www.businessinsider.in/india/news/mukesh-ambani-and-donald-trump-had-a-good-laugh-about-5g-china-and-huawei/articleshow/74329591.cms">laughed about 5G</a> with Reliance Industries chairman Mukesh Ambani, discussed US postal delivery vans with Mahindra Group chairman Anand Mahindra and even caught up with Infosys CEO Salil Parekh. <keyword id="47654" type="CITY" weightage="20" keywordseo="ArcelorMittal">ArcelorMittal</keyword> chairman and CEO Laxmi Mittal pointed out that other countries should learn about preserving domestic manufacturing from how Trump saved the steel industry in the US. Trump kicked off the <a href="https://www.whitehouse.gov/briefings-statements/remarks-president-trump-business-roundtable-new-delhi-india/">interaction</a> with Indian companies with a strong pitch saying, "If you would like to ask some questions and find out how much you should invest in the US, I’ll tell you exactly where to invest, and how to invest." 5G and energy The Hurun Global Rich List 2020 named Ambani the ninth richest man on the planet worth $67 billion. He’s also the world’s fourth-richest fossil-fuel billionaires as per <a href="https://www.bloombergquint.com/business/warren-buffett-is-one-of-the-worlds-richest-fossil-fuel-billionaires">Bloomberg</a>. "We are investors in the US in the energy sector and have invested $7 billion towards that," Ambani told Trump who replied, "$7 billion, yeah, big one." Reliance Industries trades fuel in North America and also has multiple investments in US shale gas projects. In June last year, the company even <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/reliance-industries-resumes-lobbying-in-us-ropes-in-new-lobbyist/articleshow/69623831.cms?from=mdr">roped in a new firm</a> to help with the lobbying. Ambani also told Trump that Reliance Jio is the only network in the world "that doesn’t have a single Chinese component." Trump replied with a chuckle, "Well, that’s good. Put a bid in." According to the company records, Jio has only partnered with non-Chinese equipment manufacturers like South Korea-based Samsung. The US and Trump especially, have famously been lobbying against the Chinese manufacturer Huawei’s 5G technology — alleging that the company shares data with its government. Indian car companies have an edge when it comes to right-handed diesel vehicles Anand Mahindra told Trump that his company has already invested $1 billion in the US and will happily invest another billion — if the contract with the United States Postal Services comes through. "Right now, we’re in the shortlist of the pick for the United States Postal Service new delivery van — a decision which should come by the end of the year. And when that comes through, we will very happily put in another billion and employ about 2,000 people," he said. "That’s a big business," Trump replied after finding out that the project involved the production of 180,000 vans. Although normal cars in the US have left-handed driving, postal vans need the steering wheel to be on the right. Mahindra pointed out that Indian automotive manufacturers are ideal for the project since they specialise in right-handed driving diesel vehicles. Protecting domestic manufacturing Lakshmi Mittal lauded Trump for saving the US steel industry. "Section 232 has been the big lesson for the rest of the world on how to support domestic manufacturing. And this is what we expect the other countries to learn: that they should support domestic manufacturing, not made in China," he said. Trump pointed out that aluminium and steel industries are integral to any country. "Steel you need, from a military — and aluminium you need. You got to have the aluminium. But steel you need probably more than anything else. You have to have it," he said. Going forward, Mittal noted that ArcelorMittal has plans to announce a multi-million dollar investment for a new steel plant, probably in the US state of Alabama. Technology in the US Salil Parekh told Trump that Infosys has invested around $525 million in the US market over the past two years creating 24,000 employees across six new centres. However, Mohan Reddy — founder of technology company Cyient — expressed concerns about administrative and legislative challenges that remain despite reforms. "We’re going to cut a lot more regulations. And, we’re going to also have regulations because I think you need regulation for safety and for the environment. But no President has ever cut anywhere close to what we’ve done." said Trump. Trump’s bid for getting re-elected When Ambani thanked Trump for his measure on making business easier in the US, the President said, "But if the wrong person gets elected, that won’t happen at all." He added that if he doesn’t get re-elected in the upcoming US Presidential Election, the unemployment in India will surge to 8 to 10%. "When we win re-election — and I think we will — when we win, I think the market is going to go up like — it’s going to be like a rocket ship. Like last time, but even more so," Trump told another participant. See also: <a href="https://www.businessinsider.in/india/news/mukesh-ambani-and-donald-trump-had-a-good-laugh-about-5g-china-and-huawei/articleshow/74329591.cms">Mukesh Ambani and Donald Trump had a good laugh about 5G, China and Huawei</a> <a href="https://www.businessinsider.in/india/news/day-one-of-donald-trumps-india-visit-these-are-all-the-highlights/articleshow/74277019.cms">Trump meets Mukesh Ambani and other top CEOs in India</a> <a href="https://www.businessinsider.in/business/startups/news/us-president-donald-trump-meets-oyo-founder-ritesh-agarwal-tells-him-good-job/articleshow/74319053.cms">US President Donald Trump meets OYO founder Ritesh Agarwal, tells him ‘good job’</a>

Anand Mahindra, Mukesh Ambani and LN Mittal each had a different pitch to charm Donald Trump

Storytelling is a standout amongst the most antiquated types of communication. Before there were cameras, computers, or even books, stories held the knowledge of all civilization. Indeed, even today, students’ adoration to peruse and listen to stories as an approach to find out about the world and how it functions. Besides, students to recount stories either orally or in print is an extraordinary approach to help them rehearse grammar, grow their vocabulary, and impart their ideas to others. 
 
In classroom, a few educators are endeavoring to tackle the force of technology to build literacy rates for battling students; however does utilizing technology truly have any kind of effect? 
 For as long as four years, specialists at MIT, Tufts University, and <keyword id="252525" type="ORGANIZATION" weightage="20" keywordseo="Georgia-State-University">Georgia State University</keyword> have been leading a study to figure out if tablet computers stacked with literacy applications could enhance the reading preparedness of youngsters living in economically disadvantaged communities. 
 
In all three cases, study participants’ performance on standardized tests of reading preparedness indicated that the tablet use was effective. The trials examined a range of educational environments. One was set in a pair of rural Ethiopian villages with no schools and no written culture; one was set in a suburban South African school with a student-to-teacher ratio of 60 to 1; and one was set in a rural U.S. school with predominantly low-income students. 
 The researchers’ system consists of an inexpensive tablet computer using <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword>’s Android operating system. Wolf and <keyword id="3259799" type="UNKNOWN" weightage="20" keywordseo="Gottwald">Gottwald</keyword> combed through the literacy and early-childhood apps available for Android devices to identify several hundred that met their quality criteria and addressed a broad enough range of skills to lay a foundation for early reading education. 
 
As Wolf reflects in her book, “Proust and the Squid”, the capacity to read, unlike the capacity to process spoken language, is not hard-coded into our genes. Consequently, early training is essential to establishing the neurological machinery on which the very capacity for literacy depends. 
 
What’s happening in India? 
 For sound literate future governance and technology must go hand-in-hand. <keyword id="661072" type="PERSON" weightage="20" keywordseo="Kevin-Kelly">Kevin Kelly</keyword> in his recent book clearly states that technology cannot be just stopped, no matter what restrictions the governance makes (slows down the progress though). 
 
Recently, India launched a digital literacy mission with an investment of over $265 million to provide high quality education in unprivileged areas of the country. Recently that mission was turned to reality when Minister for IT and NRI affairs, KT Rama Rao launched 54 Cyient Digital Centres (CDC) during the 25th anniversary celebrations of the company. The aim of these CDCs is to offer high-quality digital educational resources to the underprivileged children and community members of the block. Currently these centres comprise of three functions including, online supplemental learning portal for students and teachers, CDs and DVDs to access offline content and Learning resources for Science, Mathematics, Social Science and English. 
 
Digital Literacy for women 
 In a country where one minister believes women wearing short clothes calls for rape and another wants to make the rural women population literate, its ironical the direction we’re heading. Union minister for law and justice and information technology <keyword id="6354886" type="PERSON" weightage="60" keywordseo="Ravi-Shankar-Prasad">Ravi Shankar Prasad</keyword> dedicated WiFi services in as many as five villages in the Araziline block of Varanasi and called for ensuring "digital literacy" among women. 
 
Over the previous years, various studies have indicated benefits from the utilization of technology in education. The part of technology in education is essential, and the question is no more if technology upgrades learning, rather how would we improve our utilization of technology to upgrade learning?

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Why TCS, Infosys, Wipro and HCL Tech can expect better earnings this year ⁠— here’s what’s working for each one of them

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