Top headlines: Consumer protection rules, Infosys may overtake Cognizant

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Consumer protection rules: E-tailers may need user nod to share data

The Centre is likely to ask e-commerce companies to seek the consumer’s consent before sharing her or his personal data, a move aimed at protecting the person’s privacy as well as preventing information misuse or unauthorised sharing.

The Ministry of Consumer Affairs is working on a detailed set of guidelines regarding seeking consent on data sharing, and they will come as part of the much-awaited Consumer Protection (E-commerce) Rules. Read more

Dixon to Lava, Indian firms in JV talks with Chinese electronics players

Home-grown companies, including electronics manufacturing services (EMS) firm Dixon Technologies and mobile device maker Lava International, have started exploratory talks with Chinese sub-assemblies and component players for setting up joint ventures (JVs) in the country.

Sources in the industry say many domestic companies have also had preliminary discussions with original design manufacturers (ODMs) in China to look at a JV model for manufacturing smartphones. Read more

SC orders status quo on sowing of GM mustard; next hearing on Nov 10

The Supreme Court on Thursday told the Centre not to allow planting genetically modified (GM) mustard until the next hearing on the matter on November 10.

The Centre told the court it needed time --- till Monday --- to put the latest facts on record. Read more

Infy may overtake Cognizant on revenue front after a decade, say analysts

Slowing growth and execution challenges for Cognizant (CTSH) may well allow Infosys to overtake the former after a decade. Cognizant had marched ahead of Infosys in terms of revenue in the first quarter of financial year 2012-13.

The Nasdaq-listed IT services firm’s performance in Q3 and the guidance for Q4 and full-year 2022 suggest that it could take time for Cognizant to see the expected improvement in performance from its decision to restructure. Cognizant follows a January-December financial year. Read more
 

Byju's Aakash Educational Services IPO valuation likely to hit $4 billion

India’s most valuable start-up, online-education giant Byju’s, is finalising plans for a $1-billion initial public offering of its tutoring business Aakash Educational Services, according to people familiar with the matter.

The company is in talks with at least four foreign banks— JPMorgan Chase & Co, Citigroup Inc, Goldman Sachs Group Inc, and Morgan Stanley, as well as Indian banks, including Kotak Mahindra Bank and Axis Bank, as it seeks arrangers for the listing, said one of the people, who asked not to be named discussing confidential conversations. The unit may be valued at $3.5 billion to $4 billion, the person said. Read more
 

Hero Electric to invest Rs 2,500 crore to launch 4 million units by 2026

Hero Electric has decided to invest Rs 2,500 crore to build additional capacity of about 4 million electric two-wheelers by 2026. The first stage of investment will roll out this year for a new factory in Rajasthan, where vendor units will invest another Rs 400 crore.

In the second stage, it is scouting for a location of a plant in South India. Both factories will be of equal size and investment. The company has the capacity to manufacture 500,000 vehicles. Read more