Flipkart Top Brass Quit, TCS Beats Street Estimates and Other Top India News

We heard of Flipkart’s high level hires so it’s inevitable that there will also be exits of some old-timers. Four top-level executives at the online marketplace have quit, while CTO and architect of the Flipkart platform, Amod Malviya, has moved into an advisory role. Two ex-Googlers Punit Soni and Peeyush Ranjan moved to India to take on senior roles, among other senior hires from the industry here. Saran Chatterjee, head of product, Sujeet Kumar, head of logistics, Sameer Nigam, a senior VP of engineering and Vaibhav Gupta, head of finance, are among the people who’ve moved on. This could be mere growing pains as the company scales up and looks for experienced staffers to handle fresh challenges.

TCS, the first of the companies to announce June-quarter earnings, has beaten street estimates, mainly backed by more business from the U.S. and from financial clients. A bit of good news at a time when IT services companies are struggling with lower margins and increased competition. Heartening to note, the company plans to increase investment in digital businesses, suggesting that the IT company has seen the writing on the wall as far as its business is concerned.

Also investing more in digital is competitor Wipro. The Bengaluru-based IT company has acquired Denmark-based global strategic design firm Designit for $94 million.  The company delivers product-service experiences for top brands in healthcare, telecom, banking, automotive, and retail. 

The AV Birla group is the latest to foray into the solar power business. Aditya Birla Nuvo will be bidding for solar power projects, starting with those in Telengana state. Clearly, the next big thing as everyone from Bharti, Foxconn, Alibaba and Adani are eyeing a piece of this market. Also helping is the NDA government’s push towards renewable business.

Zomato will be launching its food-ordering service in UAE and SE Asia. The restaurant review service missed the bus on expanding into food ordering, and is making up for it by going overseas. It has been expanding its restaurant review business across the globe by acquiring similar business across the world.

A trend in angel investing – celebrity investors. So cricketer Yuvraj Singh has set up a fund to invest in healthcare and fitness startups, Bollywood star Ranbir Kapoor has invested in Saavn, India’s Spotify, and another star Akshay Kumar has invested in a teleshopping network. What’s next?

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