India's ISM 2.0 Launch and Wipro's Q1 Financial Performance
The Indian government has initiated ISM 2.0, a $13 billion semiconductor mission focused on building a chip-design ecosystem. Wipro's Q1 results indicate missed revenue expectations, prompting a reduction in guidance amid ongoing market demand uncertainties.
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The Indian government has launched ISM 2.0, a $13 billion initiative aimed at establishing a semiconductor and chip-design ecosystem. The mission includes provisions for minority equity stakes in semiconductor startups, complemented by an emphasis on creating demand and developing talent within the industry.
Meanwhile, Wipro reported a modest revenue increase and flat profits in its Q1 results, leading to a lowered second-quarter guidance. CEO Srini Pallia highlighted ongoing demand uncertainty, especially in discretionary spending.
In contrast, Tech Mahindra reported strong growth in profit and revenue, indicating resilience in the sector. Other notable updates include Ather Energy's successful QIP and Naturis Cosmetics securing Rs 100 crore in funding.
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