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Big Tech’s acqui-hire strategy heats up as demand for AI talent soars
In the last two years, large technology players have been acquiring AI startups for their technology teams. Microsoft paid $650 million in a licensing deal to Inflection AI, whose cofounder Mustafa Suleyman is now heading Microsoft AI. In a similar licensing deal, Amazon hired AI startup Adept cofounder David Luan and others who joined Amazon's AGI team.
IndusInd Bank recommends Borkar & Muzumdar as joint statutory auditor to shareholders after RBI nod
IndusInd Bank, having secured RBI approval, proposes Borkar & Muzumdar as joint statutory auditors, pending shareholder approval at the 31st AGM. The appointment spans from 2025 to 2028, subject to annual RBI approval. RBI Governor Sanjay Malhotra acknowledged the bank's recovery and deemed the CEO's resignation sufficient accountability for past issues, while emphasizing potential legal action for any criminal conduct.
Buy Premier Energies, target price Rs 1,320: ICICI Securities
ICICI Securities maintains a buy call on Premier Energies, setting a target price of Rs 1,320, as the current market price stands at Rs 1,027.2. The company's Q4FY25 consolidated total income reached Rs 1680.32 crore, reflecting a 47.58% increase year-over-year. Anticipating rising demand for domestically produced cells, ICICI Securities values FY27E earnings at 35x.
Happiest Minds Technologies appoints Anand Balakrishnan as CFO
The appointment is effective June 12. Balakrishnan, a chartered accountant, cost accountant and an American certified public accountant, brings with him over 20 years of experience in financial management, accounting, and strategic leadership and has held senior positions at organisations, including PwC, KPMG, Marsh McLennan (formerly JLT), GE Healthcare, and Mindteck.
JM Financial maintains Buy on Bharti Airtel; target price Rs 2050
JM Financial maintains a buy call on Bharti Airtel, revising the target price to Rs 2,050 from Rs 2,035, anticipating the stock to reach this level within a year. In the quarter ended March 2025, Bharti Airtel reported a consolidated total income of Rs 48,362 crore, a 27.55% increase year-over-year, with a net profit after tax of Rs 12,418.10 crore.
OTT platforms script new strategies to cut costs
India’s OTT platforms—including Netflix, Prime Video, JioHotstar, and ZEE5—are adopting cost benchmarking practices to manage rising content production expenses and improve profitability. Consultancy firms like EY, PwC, and Deloitte are helping these platforms establish cost reference points across projects.
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India’s new warfare: Drones, data, and the defence race that can't wait
India’s battlefield is evolving from boots on the ground to code in the cloud. As drone swarms, cyber weapons, and AI take centre stage, New Delhi is rewriting its defence playbook. Through cutting-edge homegrown innovation, resilient startups, and a push from “Make in India” to “Create in India,” India is preparing for wars that are silent, swift, and sky-bound. This deep dive explores how India is building its future security one drone, one algorithm, and one idea at a time.
I-Sec maintains Add on Blue Star, lowers target price to Rs 1,800
ICICI Securities maintains Add call on Blue Star with a revised target price of Rs 1,800 (earlier Rs 1,925). The current market price of Blue Star is Rs 1587. Blue Star, incorporated in 1949, is a Mid Cap company with a market cap of Rs 32586.86 crore, operating in the Consumer Durables sector.
Buy Suzlon Energy, target price Rs 81: JM Financial
JM Financial suggests buying Suzlon Energy shares. The target price is now Rs 81. Suzlon's current market price is Rs 67.33. The company's income rose significantly this quarter. Wind energy demand is increasing in India. This is due to hybrid projects and import controls. JM Financial expects Suzlon's earnings per share to grow in the coming years.
Sharp decline in pay-TV subscriptions leads to 577,000 job losses: Study
India's cable television industry is facing a significant downturn, with an estimated 577,000 job losses projected between 2018 and 2025. This decline is attributed to a shrinking pay-TV subscriber base, dropping from 151 million in 2018 to a projected 71-81 million by 2030, fueled by rising channel costs, OTT competition, and free services.
We will have our big four in India soon: Goyal
Commerce and Industry Minister Piyush Goyal announced the government's efforts to foster the growth of large domestic accountancy firms in India. He envisions the emergence of India's own "big four" in the accountancy and consultancy sector. Goyal noted that previous regulations hindered mergers, but a shift in mindset is paving the way for this development.
IndusInd Bank shares in focus after Sebi issues correction in insider trading case
Sebi issued a corrigendum to its recent interim order in the insider trading case involving the bank, clarifying that a crucial document previously referred to as a “board note” was actually an “engagement note.”
INSCO to submit improved resolution plan for Hindusthan National Glass
Independent Sugar Corp (INSCO), the approved bidder, will present an enhanced resolution plan of ₹356 crore for Hindusthan National Glass to lenders. This follows a Supreme Court directive to match AGI Greenpac's offer after rejecting the latter's plan due to delayed CCI approval. The resolution professional will now seek CoC approval for the revised INSCO plan by July 2025.
Sebi issues correction in IndusInd Bank insider trading case
Sebi has issued a corrigendum in the IndusInd Bank insider trading case, clarifying that a key document referred to as a “board note” in its interim order should have been called an “engagement note.” The case involves allegations of UPSI-based share sales by top executives before disclosing Rs 1,572 crore in derivative losses, helping them avoid nearly Rs 20 crore in losses.
AI versus first jobbers: Here are six tips for bright young students as AI threatens entry-level jobs
AI's rapid advancement threatens entry-level white-collar jobs, potentially disrupting traditional career paths. Experts predict significant displacement in coding, paralegal, and analyst roles, impacting recent graduates. The focus shifts towards human skills, AI literacy, and entrepreneurial ventures as crucial for navigating the evolving job market, emphasising adaptability and continuous learning.
India's digital forensics market to triple global growth, hit $1.39 billion by FY30: Report
Mobile forensics now dominates the sector, accounting for about 51% of the market, driven by the boom in smartphone usage, digital payments and mobile-centric cybercrime. With 81% of demand coming from the public sector, particularly law enforcement, the report highlights the growing reliance on forensic tech to combat sophisticated digital threats.
From July 1, GST returns pending three years can’t be filed
Starting July 2025, GSTN will restrict taxpayers from filing returns after three years from the due date, following a Finance Act amendment. Taxpayers are urged to reconcile records and file pending returns for GSTR-1, GSTR-3B, and GSTR-9 promptly. Experts believe this promotes tax discipline, though concerns exist regarding taxpayers facing genuine hardships.
Panel may be set up for creating India's 'Big Four'
The government is planning to establish a panel. This panel aims to develop a supportive environment for large Indian chartered accountancy firms. The goal is to make them competitive with the Big Four. The Prime Minister's Office recently held a meeting to discuss this initiative. The panel will suggest policy and regulatory changes.
You may be contributing to State Labour Welfare Fund from your salary: What is it, and how it helps employees
The Labour Welfare Fund is used to finance activities that promote the welfare of labour in the state. It also helps to utilize unpaid accumulations (such as wages, bonuses, gratuities, etc.) lying with the employer in the best interests of labour.
Amid job loss fears due to automation, a shocking new report reveals how AI is actually making workers ‘more valuable’
Despite concerns over AI-driven job losses, PwC’s 2025 AI Jobs Barometer finds AI is creating jobs and boosting wages worldwide. Productivity in AI-exposed industries has nearly quadrupled since 2022, and wages for workers with AI skills are significantly higher. The study highlights AI’s role in enriching jobs by automating mundane tasks and urges businesses to view AI as a growth strategy.
PMO to hold key meeting today for creating India's 'Big Four'
The Prime Minister's Office is convening a meeting on Friday to explore strategies for fostering the growth of large, domestic accountancy firms to rival the dominance of the 'Big Four'. Chaired by Shaktikanta Das, the meeting will assess potential regulatory changes and interventions to facilitate the scaling up of Indian firms.
Vedanta Aluminium partners PwC India to scale up sustainability initiatives in Odisha, Chhattisgarh
Vedanta Aluminium is growing its sustainability work with PwC India. The focus will be on projects in Odisha and Chhattisgarh. The partnership will now include all operational areas. Decarbonisation, water conservation, and biodiversity are key goals. Vedanta aims for carbon neutrality by 2050. This supports India's net-zero target for 2070. The company wants to lead a more sustainable aluminium industry.
Salaries rebound at top campuses: MBA, BTech offers up after 2024 slump
After a stagnant 2024, campus hiring is showing signs of recovery with rising salary offers, particularly for MBAs and BTech graduates. The Deloitte report indicates median salaries are expected to increase, driven by pent-up demand and skill-based recruitment. Sectors like private equity and renewable energy are fueling this growth, with variable pay becoming a standard feature in compensation packages.
Ex-KPMG deals co-head Manish Aggarwal joins Deloitte
Manish Aggarwal, formerly co-head of deal advisory at KPMG, has joined Deloitte in a senior leadership role to spearhead the firm's expansion into infrastructure, government, and financial services deals. Deloitte aims to capitalize on regulatory changes and India's economic growth targets, necessitating innovative financing solutions. Aggarwal's expertise will drive integrated deal and consulting opportunities in these key segments.
Aakash moves NCLT to implead EY in oppression, mismanagement case filed by Byju's
Think and Learn has filed a Company Petition before the Bengaluru Bench of the National Company Law Tribunal (NCLT) against AESL, alleging "oppression and mismanagement" in the affairs of the company under Sections 241 and 242 of the Companies Act, 2013. Think and Learn is a minority shareholder of Aakash Educational Services, which operates 316 centres throughout the country.
PwC troubles in China deepen with exit of Hong Kong partners
PricewaterhouseCoopers faces escalating challenges in Hong Kong due to its involvement in the China Evergrande Group audits. The firm is experiencing a significant partner exodus, with at least 10 more departures expected soon, adding to previous losses. These troubles follow regulatory fines and operational suspensions in mainland China related to Evergrande's inflated financial reports, impacting PwC's revenue and client retention.
May GST mopup up by 16.4%; shows FY26 off to a flying start
India's GST collections soared 16.4% to ₹2.01 lakh crore in May, signaling strong economic momentum at the start of FY26. This robust growth, supported by increased UPI transactions and auto sales, provides significant fiscal headroom for the government. Experts suggest that continued strong GST performance could pave the way for rate rationalization.
Hiring slump hits fresh graduates as top recruiters cut intake by over 50%
Fresh graduates from India's top colleges face a tough placement season as major recruiters significantly reduce intake due to global economic headwinds and evolving industry needs. Companies cite recessionary trends, AI disruptions, and a preference for experienced candidates, leading to delayed offers and increased uncertainty for students.
Local CA firms set for global tie-ups
The move is aimed at enabling local entities to gain scale, in sync with the Centre's vision of creating large home-grown accounting firms, he told ET. The framework would require local firms that are already affiliated with global accounting entities to register with the ICAI and undertake necessary compliances, said people aware of the details.
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