INDIAN ENGINEERS
Social media abuzz about toxic work culture at Ola Krutrim after employee’s ‘suicide’
Ola's AI arm Krutrim faces scrutiny after an engineer's death. Nikhil Somwanshi, a machine learning engineer, allegedly took his life. A Reddit post cited immense work pressure as the cause. Ola stated Somwanshi was on leave. Former employees allege a toxic work environment and nepotism. Several senior-level exits have occurred in the past year. Authorities are investigating the matter.
US firm Vast keen to collaborate with ISRO on Bharat Antariksh Station
Vast, a US-based space company, has proposed a collaboration with ISRO for the Bharat Antariksh Station, offering access to its planned Haven-1 space station launching in 2026. Discussions included hosting Indian scientists and engineers, potentially sharing station capacity. Vast is also open to using India's Gaganyaan vehicle for transporting customers, contingent on a competitive and reliable launch option.
Qlik bullish on India, aims to cross 1,000 customer base this year
Located in Mumbai, this strategic investment enhances Qlik's global cloud infrastructure and deepens its long-term commitment to the Indian market, meeting the growing demand for local data storage, regulatory compliance, and advanced AI capabilities. Qlik senior vice president (APAC) Maurizio Garavello said India headcount has doubled in the last 16 months, and hiring would continue as business is growing in the market.
Q4 results this week: ITC, Sun Pharma, IndusInd Bank, IndiGo, BEL among 81 companies set to announce earnings
India Inc's Q4 earnings season intensifies with 81 firms, including ITC, Sun Pharma, ONGC, and Hindalco, set to report this week, offering insights into sectoral performance and future growth outlooks.
Zoho’s Sridhar Vembu warns of LLM-led job disruption in software development
Vembu’s remarks align with growing global apprehensions about AI-induced job displacement. In April, the United Nations Conference on Trade and Development (UNCTAD) stated that up to 40% of jobs worldwide could be affected by AI. The Economic Survey 2024-25 also raised this issue, highlighting the rapid progression of AI technology and its disruptive effects on the labour market.
India-UK FTA a good deal, but for whom?
The FTA is expected to open market opportunities and trade potential for India across various sectors. What remains to be seen is how well it can help MSMEs leverage the benefits on offer.
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Big tech, small cheques: A decade of déjà vu for India’s IT freshers as CEO salaries soar
India's IT sector has witnessed a surge in exports and executive salaries, but entry-level engineers from non-premium colleges face stagnant starting pay, hovering around ₹3-4 lakh annually. Oversupply of graduates and declining billing rates contribute to this disparity, while companies focus on skill-based compensation and training investments. GCCs are emerging as a potential game-changer, offering higher salaries for specialized roles.
Gensol CFO resigns, days after exit of promoters
In his resignation letter, available on stock exchanges, Aga said Gensol Engineering is currently facing significant challenges, with multiple regulatory bodies conducting investigations and the top management resigning from their respective roles.
Why this town in Assam shares its name with our favorite cheesy pizza, and who borrowed it first? This tale will leave you in surprise
What if we told you your beloved Margherita pizza shares its name with a coal town in Assam, born out of colonial railway history and Italian pride? From royal tributes to industrial struggles, Margherita’s story blends heritage, hardship, and culinary coincidence. This isn’t just about cheese and tomatoes—it’s about a name that traveled continents and rooted itself in unexpected soil.
New trade data shows significant widening of India's exports basket
India's exports in fiscal year 2024-25 were significantly boosted by key sectors like engineering goods, agriculture, pharmaceuticals, and electronics, collectively contributing over 50%. Electronic goods exports saw the highest growth, while engineering goods remained the top contributor. Agricultural exports also rose, with rice achieving a record high.
Why Indian students working part-time should be the norm, not the exception
As higher education costs surge in India, an 'earn while you learn' program in Andhra Pradesh offers a refreshing solution. Encouraging students to take on-campus jobs like janitorial or gardening work can instill accountability and respect for all types of labor.
Hyundai India aims for 7%-8% annual exports growth after quarterly profit beat
Hyundai Motor India anticipates a 7%-8% increase in exports for fiscal year 2026, fueled by a strong fourth-quarter performance. Despite a slight dip in year-on-year profit, the company exceeded expectations and is expanding production with a new plant in Maharashtra.
NCLT to hear Ireda's insolvency plea against Gensol next month: Report
The National Company Law Tribunal has issued a notice to Gensol Engineering after the Indian Renewable Energy Development Agency filed an insolvency plea against the company for defaulting on a Rs 510 crore payment. This action follows the resignation of Gensol's cofounders, Anmol Singh Jaggi and Puneet Singh Jaggi, who were barred by SEBI for alleged financial misconduct.
H-1B visa demand for 2025-26 remains high despite drop in registrations
USCIS received over 343,000 H-1B visa registrations for FY 2026, a decrease from last year but still exceeding the 85,000 visa cap. A new beneficiary-based selection system, aimed at fairness, significantly reduced multiple registrations. The registration period concluded in March 2025, and selected applicants have been notified. The H-1B program remains crucial for US.
Gensol Engineering shares hit 5% upper circuit for 4th day amid ongoing turmoil
Gensol Engineering's shares have surprisingly rallied despite facing significant regulatory and financial turmoil. The surge occurs amidst the resignation of key executives due to a SEBI probe into alleged fund siphoning. Adding to the company's woes, IREDA has filed an insolvency petition over a substantial loan default, further clouding Gensol's future.
Turkish Airlines partnership provides multiple benefits to travellers, enhances connectivity: IndiGo
IndiGo defends its partnership with Turkish Airlines, highlighting benefits for Indian travellers and the economy through enhanced connectivity and affordable international travel. Despite calls for boycotts due to Turkiye's stance on India-Pakistan relations, IndiGo emphasizes the agreement's role in supporting trade, creating jobs, and facilitating access to long-haul destinations.
AI School’s in session: India Inc says 'everyone must learn' as machines get smarter
Recognising AI's transformative power, numerous firms like Vedanta, Schneider Electric, and Accenture India are proactively extending AI training to their entire workforces. These initiatives aim to equip employees with essential AI skills, fostering innovation and ensuring relevance in the rapidly evolving technological landscape.
Indian Army conducts successful 'Teesta Prahar' in Teesta field firing range
'Teesta Prahar' reaffirmed the Indian Army's commitment to combat excellence, technological advancement, and all-terrain operational readiness, as a testament to its unwavering focus on mission preparedness and integrated warfighting capability.
Gensol Engineering shares hit 5% upper circuit for 3rd day. Here's why
Gensol Engineering shares hit the 5% upper circuit for the third straight session after the resignation of its MD and Whole-time Director, following SEBI’s interim order. IREDA filed an insolvency plea over a Rs 510 crore loan default. SEBI and ED probes allege fund diversion by the Jaggi brothers, with only partial delivery of EVs and massive stock erosion.
IREDA shares in focus after filing insolvency plea against Gensol Engineering over Rs 510 crore default
IREDA has initiated insolvency proceedings against Gensol Engineering due to a Rs 510 crore loan default, part of a larger Rs 977.75 crore loan also involving PFC. The loans were intended for BluSmart's EV fleet, but investigations revealed discrepancies in fund utilization, leading to regulatory scrutiny and the resignation of key Gensol directors.
BluSmart fleet on the block, HCL-Foxconn semicon JV
Lenders and lessors are planning to sell EVs on the BluSmart fleet to recover their dues. This and more in today’s ETtech Morning Dispatch.
Nearly 2,000 BluSmart EVs on the block as lenders, lessors look to recover money
BluSmart faced financial issues and suspended operations. Now, lenders are trying to sell around 1,500-2,000 of its electric vehicles. Several companies like Evera and Everest Fleet are considering acquiring these EVs. Some leasing companies are open to leasing the vehicles to other operators. The EV sector is concerned about the depreciation of these parked assets.
ED shares Gensol probe findings with Delhi Police
Enforcement Directorate shared findings of its FEMA probe against Gensol Engineering promoters with Delhi Police EOW. The agency indicated a case against Gensol Engineering and Jaggi brothers. EOW is aware of complaints from IREDA and PFC. ED may register a case under PMLA and attach assets. Raids were conducted last month. The brothers resigned following SEBI's order.
Ireda files insolvency plea against Gensol over Rs 510 crore default
Indian Renewable Energy Development Agency (Ireda) has initiated insolvency proceedings against Gensol Engineering due to a default of Rs 510 crore. This action follows allegations of document falsification and fund diversion by Gensol's co-founders, Anmol Singh Jaggi and Puneet Singh Jaggi, who have since resigned. Sebi had previously barred them from key positions, and the Enforcement Directorate raided Gensol's premises.
Will these companies commit to ‘Make in India’? 8 MNC stocks with upside potential from just 7% to 70%
Imagine Apple did not have a manufacturing facility in India. It would have been in a very tight spot when Trump mega-tariffed China. Now, other MNCs with operations in China will also seek to derisk their supply chain. And India should be on top of the list. Of course, you can ask a pertinent question: Why, if the aim is to avoid tariff issues, do they not prefer the US? After all, that, according to President Trump, is the ultimate aim of the tariff war. However, the fact is that, even if these companies wanted to expand operations in the US, the cost (both of setting up and running operations) will be much higher than in India.
India needs revitalization to maintain long term growth of over 6%: Report
A recent report suggests that the Indian economy needs a strong domestic focus for long-term growth. The pandemic significantly impacted the services sector. Weak consumption and slow wage growth threaten recovery. The IT sector played a key role. Agriculture requires reforms. Manufacturing showed strong growth in the past. Construction experienced volatility. Diversification is essential for a resilient economy.
Tata Elxsi partners with Mercedes-Benz R&D India for vehicle engineering & SDV push; stock up 2.5%
Tata Elxsi on Wednesday said it had partnered with Mercedes-Benz Research and Development India (MBRDI) for vehicle software engineering and software-defined vehicle (SDV) development, marking a significant expansion in its automotive software capabilities.
Gensol Engineering shares in focus after founders Anmol and Puneet Singh Jaggi resign
Gensol Engineering’s top executives Anmol and Puneet Jaggi resigned following Sebi’s interim order over alleged fund diversion and corporate misconduct. The Rs 978 crore loan meant for EV procurement was allegedly misused, triggering probes by Sebi, the Ministry of Corporate Affairs, and state lenders. Gensol’s stock has crashed 59% in a month amid mounting regulatory and legal troubles.
Gensol founders Anmol Singh Jaggi and Puneet Singh Jaggi resign
Gensol Engineering's Managing Director Anmol Singh Jaggi and Whole-time Director Puneet Singh Jaggi have resigned, effective May 12, following a SEBI order. The regulatory action bars them from securities markets due to accusations of siphoning loan funds for personal use. This raises concerns about corporate governance within Gensol Engineering and their electric mobility venture, BluSmart Mobility.
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