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Time of India
29 minutes ago
- Business
- Time of India
Rapid GCC growth reshapes India's outsourcing industry
Academy Empower your mind, elevate your skills Recent exponential growth of global capability centres ( GCC ) in India may have come at the expense of the people-led tech outsourcing industry – the country's biggest services exports over the past three decades and unquestionable change agents for once-sleepy towns such as Bengaluru, Pune, and Hyderabad MNCs, which are setting up these GCCs or expanding existing facilities, are also the top spenders of tech for the $280-billion listed Indian pureplay. The increasing insourcing of core tech tasks – especially the top end, high-value work - may be leading to one of reasons for the current rot in the outsourcing industry, marked by a protracted slowdown and now FY24, GCCs' grew at a rate of 40% even as the top five Indian IT companies posted negative to sub-5% growth for the same period and reported similar numbers for fiscal 2025, as per estimates by Nasscom and the the IT industry the subdued numbers continued in FY25. While the official numbers are yet to be out for GCCs, the growth is expected to be in double Indian technology services industry which operates in a pyramid structure by hiring more entry-level coders is now witnessing a foundational shift with AI, experts said.'The pyramid is collapsing. GCCs are rising. AI is automating the middle. Pricing is shifting from effort to outcomes, and that means a full-stack transformation—not just of how services are delivered, but how they're sold, priced, and measured,' said Saurabh Gupta, president at US-based technology research and consultancy firm HFS Research Earlier this week, India's largest software exporter Tata Consultancy Services (TCS) announced that it is going to lay off around 2% or 12,200 people in the current fiscal as it grapples with low growth amid a challenging macro situation and AI-led disruption, sending shockwaves in the to an HFS data survey with 200-plus enterprises, over 65% enterprises expect to relocate at least 10% FTEs (full-time equivalent - which measures the work based on employees work hours) from third parties to have seen tremendous growth in the past few years as multinationals sought to leverage India's skilled talent and cost advantages. Estimates suggest that two new GCCs opened every week last year, increasing the total to 1,700 centres employing nearly 2 million Joshi, partner at another US-based Everest Group, said that the accelerating pace of GCCs in India is having an impact on the net demand for service providers, specifically in segments such as banking, financial services and insurance (BFSI) where these clients have scaled their GCCs in India. As per data by ANSR, over 50 banking GCCs run more than 90 centers in India employing over 180,000 BFSI contributes around anywhere between 30% and 50% of the revenue share for most Indian IT companies. Almost all large multinational banks and financial services firms have huge GCCs in India. In fact, firms like JPMorgan Chase , Wells Fargo have more employees in India than a mid-tier IT firm, with 50,000 people, representing roughly 20% of its global IT industry employed around 5.4 million professionals as of FY24, while GCCs employed nearly 1.9 million people. Net addition of talent by GCCs in FY24 stood at 90,000 and surpassed 100,000 in year, GCCs hired a total of around 110,000 people, while India's top IT companies grew their headcount by a mere 13,500 in FY25, after a reduction of 64,000 in which typically function as back office operations for large overseas companies, established their presence more firmly in India post to Ramkumar Ramamoorthy , partner at Catalincs, a tech growth advisory firm, GCCs have publicly stated that their focus to largely be on driving innovation using digital technologies, as they believe they are core to their business and they should own these capabilities.'IT services companies which were once in denial about the impact of GCCs are today proactively forming crack teams to work alongside them to jointly shape and participate in their transformation and innovation agenda,' he says alluding to the investments and acquisitions by IT firms in the GCC space.'Large IT services companies have been stuck in a low single-digit, organic revenue growth cycle for three years in a row, " he said. Prominent companies collectively generated approximately $20 billion in free cash flow last year. 'The real question we should be asking is, are these companies reinvesting enough back into the business to rewire their business, operating and financial models for accelerated growth?''With a significant portion of the revenue coming from 'run the business' as opposed to 'change the business', from time-and-material (T&M) contracts as opposed to outcome or risk-reward based contracts, from pass-through revenue from product license sale as opposed to newer service opportunities such as cyber security, interactive and platforms, companies need to take bold, unconventional decisions to force-cannibalize revenue, where appropriate, and invest their way out. If they don't act now, we risk looking back in regret for having missed a generational opportunity,' Ramamoorthy per government data, the industry had estimated revenues of $254 billion, marking a 3.8% YoY growth in FY24 (excluding e-commerce). Of this, GCCs contributed to $64.6 billion in the same period, industry body Nasscom numbers year, the government's Economic Survey also pointed out that the share of IT in India's services exports fell two percentage points over three years, while indicating an expansion of "other business services" which include GCCs of the growth has fastened at a time when the AI-led disruption is aiding more innovation and R&D work by multinationals based out of India as GCCs, which are no longer just back-office factories. Key leadership of many of these centres is based out of India making them key decision making destinations say, the 12,000 workforce layoffs announced by the largest Indian IT major TCS on Sunday is just the beginning as the Indian players are yet to get return on investments from the large AI investments made. With AI, many companies including GCCs and smaller tech firms are getting higher output with the same people.
Mint
29 minutes ago
- Business
- Mint
Recommended stocks to buy today, 30 July, by India's leading market experts
Market recap: Indian stock market benchmarks, the Sensex and the Nifty 50, ended higher on Tuesday, 29 July, snapping their three-day losing streak, on gains led by select heavyweights, such as Reliance Industries and HDFC Bank. The Sensex ended with a gain of 447 points, or 0.55%, at 81,337.95, while the Nifty 50 settled at 24,821.10, up 140 points, or 0.57%. The broader markets outperformed. The BSE Midcap index rose 0.84%, while the Smallcap index jumped 1.10%. Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Wednesday , 30 July: Buy at current market price and dips to ₹2,420; stop loss at ₹2,390; target ₹2,700-2,800 Why it's recommended: Fertiliser stocks had some undercurrent in the last few days and this counter had a challenging task until the fortunes turned around in May 2025. From the charts we can observe that the strong upside was reinforced on Tuesday. Currently the strong push can above the value resistance zone around 2480. A rounding pattern at higher levels with the rise in momentum supported by steady volumes are highlighting possibility of more upward traction. Key metrics: P/E: 34.77, 52-week high: ₹2,649.95, Volume: 1.23M. Technical analysis: Support at ₹2,200, resistance at ₹2,800. Risk factors: Market volatility and sector-wide fluctuations in geopolitical news could impact returns. Buy at: CMP and dips to ₹2,420. Target price: ₹2,700-2,800 in 1 month. Stop loss: ₹2390. Buy at current market price and dips to ₹2,710; stop loss at ₹2,685; target of ₹3,050-3,150 Why it's recommended: The company has shown significant price appreciation in the past year. It has demonstrated strong long-term fundamental strength, with a notable average Return on Equity (ROE). Net Sales and Operating profit have also experienced substantial growth. After a strong consolidation seen in the last few days the stock is showing some encouraging signs as it rebounded from supports. It can look to move higher as trends are demonstrating a strong upward drive. Can look to go long. Key metrics: P/E: 11.63, 52-week high: ₹2897.95 Volume: 307.78K. Technical analysis: Support at ₹2300, resistance at ₹3000. Risk factors: Structural issues on the domestic front and regulatory setbacks on the export front. Buy at: CMP and dips to ₹2710. Target price: ₹3050-3150 in 1 month. Stop loss: ₹2685. Buy at current market price and dips to ₹1930; stop loss ₹1910; target ₹2150-2190 Why it's recommended: Affle (India) is considered a good investment for several reasons, including its strong financial performance, growth potential in the digital advertising market, and positive analyst ratings. As this sector picks up, we can look at some notable names that are showing some promise. This counter after some profit booking dragging the prices into supports is seen building some strong push to the upside. As potential to generate upward momentum improves, one can consider some long. Key metrics: P/E: 238.74, 52-week high: ₹2079.95, Volume: 1.04 M. Technical analysis: Support at ₹1800, resistance at ₹2300. Risk factors: Sluggish growth, negative quarterly results, and reduced institutional investor participation. Buy at: CMP and dips to ₹1930. Target price: ₹2150-2190 in 1 month. Stop loss: ₹1910. Two stock recommendations by MarketSmith India: Jio Financial Services Ltd (current price: ₹321.10) Why It's recommended: Rapid revenue expansion and diversification, business scale-up, and ecosystem leverage. Key metrics: P/E: 125.59 | 52-week high: ₹ 363 | Volume: ₹848 crore Technical analysis: Trending above all its key moving averages, 50-DMA bounce back, strong institutional holding. Risk factors: Valuation concern and execution pressure, intense competition, regulatory hurdles, and cost escalation. Buy: ₹310-320 Target price: ₹380 in two to three months Stop loss: ₹298 Biocon Ltd (current price: ₹397.95) Why it's recommended: Stable biosimilar performance, subsidiary Syngene showing strong growth, and robust research and development. Key metrics: P/E: 47.06 | 52-week high: ₹406 | Volume: ₹217 crore Technical analysis: Trending above all its key moving averages, cup-with-handle pivot breakout. Risk factors: Weak underlying profitability, structural pressure in generics and research services segments, execution risk, high operating leverage. Buy at: ₹380-395 Target price: ₹454 in two to three months. Stop loss: ₹368 Top 3 stocks recommended by Ankush Bajaj for 30 July: Why it's recommended:FORTIS HEALTHCARE LTD has shown strong bullish momentum, closing higher with a daily RSI of 70 and a MACD value of 21. These indicators signal increasing strength. On the daily chart, the stock has confirmed a rectangle breakout, and on the lower time frame, a flag breakout is visible — both reinforcing the bullish continuation setup. A sustained move could potentially lead toward higher targets, including the ₹900+ zone. Key metrics: Breakout zone: Rectangle breakout on daily chart; flag breakout on lower time frame Pattern: Multiple breakout confirmations across timeframes MACD: Positive at 21, reflecting strong trend strength RSI: Daily RSI at 70, suggesting overbought but bullish conditions Technical analysis: Strong breakout signals suggest upward continuation toward ₹880– ₹890 in the near term. Risk factors: A close below ₹832 will invalidate the current bullish setup and may lead to a short-term pullback. A disciplined stop-loss at ₹832 is recommended. Buy at: ₹850.60 Target price: ₹880– ₹890 Stop loss: ₹832 Why it's recommended: VARUN BEVERAGES LTD has delivered a clean breakout from a triangle pattern on the daily chart, supported by increased volume — a sign of strong buying interest. The daily RSI stands at 67, and the MACD is at 7, confirming bullish momentum. The breakout has occurred above a well-defined supply zone, increasing the probability of follow-through gains. Key metrics: Breakout zone: Triangle breakout above a strong supply zone Pattern: Momentum breakout with volume confirmation MACD: Positive and strengthening at 7 RSI: Daily RSI at 67, highlighting strong momentum Technical analysis: Volume-backed breakout suggests continuation toward ₹535– ₹538 in the near term Risk factors: A close below ₹500 will negate the bullish view. A disciplined stop-loss at ₹500 is recommended. Buy at: ₹512.15 Target price: ₹535– ₹538 Stop loss: ₹500 Why it's recommended: ESCORTS KUBOTA LTD has shown a bullish turnaround with a falling wedge breakout on the daily chart — a pattern typically associated with reversals. The stock is also displaying strength on the lower time frame (15-minute chart) with a confirmed rectangle breakout. The daily RSI at 62 and MACD at 36 support the bullish view, indicating potential for further upside. Key metrics: Breakout zone: Falling wedge breakout on daily chart; rectangle breakout on intraday chart Pattern: Reversal and continuation patterns across timeframes MACD: Positive and rising at 36 RSI: Daily RSI at 62, showing solid momentum Technical analysis: Strong breakout signals align with potential move toward ₹3,560– ₹3,570 in the near term Risk factors: A close below ₹3,445 will invalidate the bullish breakout and may lead to near-term weakness. A disciplined stop-loss at ₹3,445 is recommended. Buy at: ₹3,489.80. Target price: ₹3,560– ₹3,570 Stop loss: ₹3,445 MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543 Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
29 minutes ago
- Business
- Mint
Best stocks to buy today, 30 July, recommended by NeoTrader's Raja Venkatraman
Market recap - Indian stock market benchmarks, the Sensex and the Nifty 50, ended higher on Tuesday, 29 July, snapping their three-day losing streak, on gains led by select heavyweights, such as Reliance Industries and HDFC Bank. The Sensex ended with a gain of 447 points, or 0.55%, at 81,337.95, while the Nifty 50 settled at 24,821.10, up 140 points, or 0.57%. The broader markets outperformed. The BSE Midcap index rose 0.84%, while the Smallcap index jumped 1.10%. Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Wednesday , 30 July: Buy at current market price and dips to ₹2,420; stop loss at ₹2,390; target ₹2,700-2,800 Buy at current market price and dips to ₹2,710; stop loss at ₹2,685; target of ₹3,050-3,150 Buy at current market price and dips to ₹1930; stop loss ₹1910; target ₹2150-2190 Stock Market Today | 29 July Benchmark indices snapped a three-day losing streak on Tuesday, staging a strong rebound as value buying in key sectors lifted market sentiment. Investor interest returned to IT, metal, and realty stocks, with the Nifty Realty index rising nearly 2% after five consecutive sessions of decline. Nifty Auto also gained close to 1%. Market volatility eased, with the India VIX falling 2.9% to 11.71, indicating reduced investor anxiety and a pickup in risk appetite. Positive global cues added momentum. The Shanghai Composite and South Korea's Kospi traded in the green, while Wall Street futures pointed to a firm US market open. The Sensex jumped 446.93 points, or 0.55%, to close at 81,337.95, while the Nifty ended above the crucial 24,800 mark at 24,821.10. Top gainers included Jio Financial Services, Larsen & Toubro, Asian Paints, Bharti Airtel, and Apollo Hospitals, which rose as much as 4%, reflecting a broad-based recovery. Outlook for Trading Technically, the Nifty's rebound from the lower end of its recent trading range signals a decisive shift in momentum. After hovering near the 25,000 mark, a sharp selloff dragged the index towards the 24,500 zone—precisely the support area highlighted in Monday's report. The formation of a bullish engulfing candle at this support level suggests a potential revival. A strong-bodied close reinforces trader confidence and points to the possibility of a fresh up-leg. Chart watchers will note the bullish candlestick pattern on the daily chart, accompanied by rising volumes—an encouraging sign that the rally may have further legs. The options market also echoed this optimism. Ahead of monthly expiry, traders were seen aggressively selling puts and unwinding calls, skewing delta positioning toward the upside. This combination of put writing and call reduction reflects classic 'bullish aggression," as hedgers secure downside protection while easing off on bearish bets—typically a setup that fuels further gains when spot prices rise. The Nifty Spot has firmly closed above the consolidation zone that we have been mentioning however the median line resistance around 25100 will be a key level to watch out for as we move ahead into the August series. Further evidences in the form of key sectoral drivers firing on all cylinders, our constructive stance remains intact. I prefer looking at Nifty Spot charts for short-term support which shifts to the 24,500 area, while resistance looms near 25,100. As we near the July expiry we should keep booking profits as sentiment is still fragile. If the markets sustain this momentum, a run towards 25,000 becomes a realistic expectation in coming weeks. For now, bears are firmly in command as indicated by the momentum indicator, and positions aligned with this trend stand to benefit despite some brief optimism. The onus now is on the other indices to play catch up else what we saw on Tuesday. Are we going to get more tailwinds ? A buy on dip market has now been initiated and we have to take note of this fact as we head into the coming sessions. Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
29 minutes ago
- Business
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 30 July
Stock market recap - Indian stock market benchmarks, the Sensex and the Nifty 50, ended higher on Tuesday, 29 July, snapping their three-day losing streak, on gains led by select heavyweights, such as Reliance Industries and HDFC Bank. The Sensex ended with a gain of 447 points, or 0.55%, at 81,337.95, while the Nifty 50 settled at 24,821.10, up 140 points, or 0.57%. The broader markets outperformed. The BSE Midcap index rose 0.84%, while the Smallcap index jumped 1.10%. Top 3 stocks recommended by Ankush Bajaj for 30 July: Why it's recommended: Fortis Healthcare has shown strong bullish momentum, closing higher with a daily RSI of 70 and a MACD value of 21. These indicators signal increasing strength. On the daily chart, the stock has confirmed a rectangle breakout, and on the lower time frame, a flag breakout is visible — both reinforcing the bullish continuation setup. A sustained move could potentially lead toward higher targets, including the ₹900+ zone. Key metrics: Breakout zone: Rectangle breakout on daily chart; flag breakout on lower time frame Pattern: Multiple breakout confirmations across timeframes MACD: Positive at 21, reflecting strong trend strength RSI: Daily RSI at 70, suggesting overbought but bullish conditions Technical analysis: Strong breakout signals suggest upward continuation toward ₹880– ₹890 in the near term. Risk factors: A close below ₹832 will invalidate the current bullish setup and may lead to a short-term pullback. A disciplined stop-loss at ₹832 is recommended. Buy at: ₹850.60 Target price: ₹880– ₹890 Stop loss: ₹832 Why it's recommended: Varun Beverages has delivered a clean breakout from a triangle pattern on the daily chart, supported by increased volume — a sign of strong buying interest. The daily RSI stands at 67, and the MACD is at 7, confirming bullish momentum. The breakout has occurred above a well-defined supply zone, increasing the probability of follow-through gains. Key metrics: Breakout zone: Triangle breakout above a strong supply zone Pattern: Momentum breakout with volume confirmation MACD: Positive and strengthening at 7 RSI: Daily RSI at 67, highlighting strong momentum Technical analysis: Volume-backed breakout suggests continuation toward ₹535– ₹538 in the near term Risk factors: A close below ₹500 will negate the bullish view. A disciplined stop-loss at ₹500 is recommended. Buy at: ₹512.15 Target price: ₹535– ₹538 Stop loss: ₹500 Why it's recommended: Escorts Kubota has shown a bullish turnaround with a falling wedge breakout on the daily chart — a pattern typically associated with reversals. The stock is also displaying strength on the lower time frame (15-minute chart) with a confirmed rectangle breakout. The daily RSI at 62 and MACD at 36 support the bullish view, indicating potential for further upside. Key metrics: Breakout zone: Falling wedge breakout on daily chart; rectangle breakout on intraday chart Pattern: Reversal and continuation patterns across timeframes MACD: Positive and rising at 36 RSI: Daily RSI at 62, showing solid momentum Technical analysis: Strong breakout signals align with potential move toward ₹3,560– ₹3,570 in the near term Risk factors: A close below ₹3,445 will invalidate the bullish breakout and may lead to near-term weakness. A disciplined stop-loss at ₹3,445 is recommended. Buy at: ₹3,489.80. Target price: ₹3,560– ₹3,570 Stop loss: ₹3,445 Market Wrap | 29 July Indian equities ended lower on Tuesday, 29 July, in a muted yet rotational session that saw headline indices slip but defensive and quality stocks provide some support amid persistent volatility. The Nifty 50 declined 140.20 points, or 0.57%, to close at 24,821.10, while the BSE Sensex fell 446.93 points, or 0.55%, to end at 81,337.95. The Bank Nifty extended its losses, dropping 137.10 points, or 0.24%, to settle at 56,222.00 after breaching key intraday support levels. Despite the overall weakness, no sector ended in the red, reflecting selective strength in defensives. The Nifty Realty index rose 1.60%, while Pharma and Healthcare advanced 1.37% and 1.26%, respectively, as investors rotated capital into low-beta, stable segments. On the stock-specific front, Jio Financial Services led the gainers, climbing 4.47%. Reliance Industries gained 2.13%, and Asian Paints added 1.78%, buoyed by steady buying interest in high-quality names. However, pressure from key index heavyweights kept sentiment subdued. SBI Life slipped 0.92% on concerns around asset quality and elevated valuations. Axis Bank fell 0.88%, while TCS dropped 0.76%, reflecting continued caution in the broader market. Nifty Technical Analysis: Daily & Hourly The Nifty staged a smart recovery on July 30, closing at 24,821.10, up 140.20 points, or 0.57%. Despite opening with a gap down, the index rebounded strongly, forming a bullish engulfing candlestick pattern near a key support zone. The recovery, which saw the Nifty reclaim the psychologically important 25,000 mark during the session, signals a potential short-term reversal in trend. The 25,000 level had earlier acted as stiff resistance, and its intraday breach may lend support to a more constructive outlook going forward. While the index still trades below its short-term moving averages — the 20-day SMA at 25,181 and the 40-day EMA at 25,013 — today's close above 24,800 is encouraging and shows signs of buying interest returning. On the intraday front, the index has also moved above key hourly averages, with the 20-hour SMA at 24,772 and the 40-hour EMA at 24,888, suggesting that short-term pressure is easing and momentum may be shifting. Supporting this technical turnaround, momentum indicators are showing early signs of improvement. The daily RSI has bounced to 42 from lower levels, while the hourly RSI has improved to 49, indicating a pickup in underlying strength. However, both readings remain below the bullish threshold of 50, meaning confirmation is still pending. The MACD indicators remain in negative territory, with the daily MACD at –61 and the hourly MACD at –66, but the declining negativity suggests that bearish momentum is losing steam. In the derivatives segment, the options data shows a shift toward a more balanced sentiment. Total Call open interest currently stands at 20.05 crore versus 14.28 crore on the Put side, maintaining a bearish bias with a net difference of –5.78 crore. However, the day's change in OI tells a different story. While Call OI declined by 2.43 crore, Put OI increased by 2.80 crore, resulting in a net positive change of +5.23 crore, indicating short-covering on the Call side and fresh Put writing. The Put-Call Ratio has improved to 0.71, up from extremely bearish readings in previous sessions, further supporting the case for a potential bounce. Strike-wise positioning shows the highest Call open interest remains at 25,000, confirming it as the immediate resistance. Notably, fresh Call writing has emerged at the 25,800 strike. On the Put side, the highest open interest is still concentrated at the 24,000 strike, while fresh Put additions at 24,800 suggest it is emerging as a new support level. Additionally, India VIX fell 4.46% to 11.52, indicating reduced market volatility and supporting the idea of a stabilizing trend. In summary, while the broader trend remains cautious, today's price action has injected a dose of optimism. The bullish engulfing pattern near support, coupled with improving momentum and supportive option data, points to the possibility of further upside if follow-through buying emerges. That said, the index needs to decisively reclaim the 25,180–25,200 zone to confirm a bullish reversal. Until then, the short-term outlook has shifted from bearish to neutral, with traders advised to consider buy-on-dips strategies above 24,800, while keeping an eye on 25,000–25,180 as key resistance levels. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
29 minutes ago
- Business
- Mint
Jashvik Capital acquires stake in pharma software provider Marg ERP for over ₹400 crore
Private equity firm Jashvik Capital said on Wednesday that it has acquired a stake in pharma software provider Marg ERP for over ₹400 crore, marking the firm's fourth investment from its maiden fund, which has a target corpus of $350 million. The firm is betting on the growth of organised healthcare software as a service (SaaS) in the Indian market, where Marg ERP is currently a market leader. The healthcare software services market in India has been largely unorganised, but with tailwinds like an increasing focus on digitisation, tightening regulatory processes, and a rise in consumer trends, this space is expected to grow, founder and managing partner Naresh Patwari told Mint. 'Healthcare SaaS has been a very large opportunity globally. We think we are at the start of that super cycle in India," said Patwari. 'Our view is that while India is in the early stages of this transformation, our investment in Marg ERP is the first step in building a platform that can ride this super cycle." Jashvik Capital, a mid-market PE firm, has in the past made investments in Bharuch-based Jabsons Foods, Bengaluru-based Futura Surgicare and Hyderabad-based eye care chain Smart Vision Eye Specialities Pvt. Ltd. It is also in the process of closing an investment in pest control and home care products maker Midas Hygiene, which it had announced in February. Marg ERP, founded in 2000, is one of the country's largest ERP (enterprise resource planning) and accounting software providers for pharmaceutical retailers and wholesalers. The firm currently has over 500,000 subscribers and is present in India and 32 other countries. It works largely with players across the pharmaceutical distribution chain, including wholesalers, distributors and pharmacies. It has a market share of over 50% in some segments in the distribution chain, said Patwari. 'Marg is a highly profitable, fast-growing company. Growth has been 25% over the long term and close to 40% more recently. It is a clear market leader and it can compound for the next 10-15 years. We are perhaps at the early stages of a long-term trend," he said. The firm plans to scale up Marg's operations through a mix of organic and inorganic strategies, as well as invest further in R&D, said Patwari. '...the goal is to expand, go deeper in India and to go wider internationally." API Holdings, India's largest digital healthcare platform and parent company of brands like PharmEasy, had acquired a 49% stake in Marg ERP in 2022, which the company's founders bought back in February this year.
