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Nandan Nilekani Appointed as New Chairman of Infosys Board

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Nandan Nilekani has been appointed as the new chairman of the Infosys board after accepting the resignation of R. Seshasayee along with the resignations of Vishal Sikka as the executive vice chairman, Jeffrey Lehman and John Etchemendy as directors.

The second largest IT company of India saw a board shake up Thursday and the celebrated cofounder Nandan Nilekani returned to lead the company after a decade. These sweeping changes were made in an attempt to restore stability to the company and close the rift between Narayana Murthy and the board. Infosys confirmed the resignations and the appointments in a press release and also added that Nilekani had insisted on a clean slate as one of the primary conditions for his return.

Nandan Nilekani was also the chairman of Unique Identification Authority of India after serving as the CEO of Infosys between March 2002 to April 2007. Speaking about the appointment, Nilekani said he was happy to return to Infosys and looks forward to work with the other members of the board. “Thank Vishal Sikka for his service as the CEO of Infosys over the last three years and wish him well in his future endeavors,” he added. At present, as per the quarter ended June this year, the Nilekani family has a 2.29% stake in Infosys.

Recently, Vishal Sikka put in his papers and resigned from his position as the CEO of the IT firm citing “continuous distractions and disruptions,” as the reason for his resignation. The appointment of a co founder might end the mutual distrust between the Infosys board and Co Founder N. R. Narayana Murthy. Sikka’s exit came at a time when the IT services sector was undergoing turmoil due to automation, growing protectionism and shift towards digital leading to a plunge in the company’ shares. The company’s stock dipped in the early morning trade falling to Rs. 958.00 and wiped out nearly $4 billion of Infosys’s market value.

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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