Latest news with #TechMahindra
Reuters
11 hours ago
- Business
- Reuters
With $145M Net Worth, Arun Kar Charts Greener Future from Military Service to Global Innovation
LONDON, United Kingdom, May 27, 2025 (EZ Newswire) -- In an age dominated by startup valuations and venture capital pomp, Arun Kar, opens new tab's journey stands apart — a narrative defined not by overnight success but by persistent resilience, clarity of purpose, and quiet determination. Born in Odisha, India, and raised in a modest household, Kar's early life was marked by adversity. One of the most defining moments came in 1999, when he survived the devastating Super Cyclone that ravaged the eastern coast of India. 'Witnessing the destruction and the quiet strength of my community left a lasting impact,' he recalls. That formative experience planted the seeds of a lifelong mission: to build solutions that serve both people and planet. Kar's path initially led to military service. After clearing India's Combined Defence Services examination with an all-India rank of 152, he was commissioned into the Indian Army's Artillery Arm. For seven years, he served with distinction, often in some of the country's most demanding environments. Kar said, 'The Army taught me the value of leadership under pressure, discipline, and unwavering accountability'. Those lessons would prove critical in the chapters to come. Battleground to Boardroom Following his military tenure, Kar transitioned to the corporate world, working with leading global IT firms including Tech Mahindra and Virtusa. There, he gained exposure to digital transformation, enterprise systems, and global operations — insights that laid the foundation for his entrepreneurial vision. In 2016, he founded Xpertnest, opens new tab alongside partners Chintan Panara and Pradip Butani. With no external funding, the team started from scratch — quite literally from their living rooms. Their first project brought in just $900. But what followed was nearly a decade of steady, values-driven growth. Today, the company is a global digital innovation firm headquartered in London, with operations spanning the UK, Europe, India, and the Middle East. The company's portfolio includes smart city infrastructure, AgriTech platforms supporting Indian farmers, and critical applications for Fortune 500 companies and national law enforcement agencies. Their technology has powered everything from 5G event solutions to IoT-based utility management systems. Notably, several of their applications have been featured in Apple's enterprise success stories — a testament to the firm's technical acumen and real-world impact. In early 2025, the company was independently valued at over $100 million, a figure verified by both a SEBI-registered Category-I Merchant Banker and a UK-based valuation firm, with the milestone reported across the London Stock Exchange (RNS), opens new tab, Reuters, opens new tab, and the Financial Express, opens new tab. Building a Greener Future Kar's ambitions extend beyond technology. In recent years, he launched Earthnest, a sustainability venture focused on biodegradable and plastic-free packaging solutions. The company's flagship product — Bio Bags — aligns with the United Nations Sustainable Development Goals and is already in use across the UK, including a successful trial with Paultons Park, one of Britain's top family attractions. 'Technology must serve humanity and the environment — not just profit margins,' Kar says. A Quiet Rise In May 2025, Arun Kar's personal net worth was independently assessed and certified at $145 million by a SEBI (Securities and Exchange Board of India) registered Category-I Merchant Banker, based on his equity in Xpertnest, stakes in other high-growth ventures and companies, and a portfolio of income-generating real estate assets. Yet, despite reaching multimillionaire status long before public recognition, Kar remains grounded. His next goal? To support emerging leaders and startups through mentorship, investment, and ethical governance. 'Impact is the true measure of success,' he acknowledges. Kar's journey — from cyclone survivor to Army officer, tech innovator to sustainability champion — is a rare tale of purpose over hype. It serves as a powerful reminder that in an age of instant gratification, long-term vision, discipline, and integrity still have a place at the heart of innovation. Media Contact Benjamin ### SOURCE: The News Times UK Copyright 2025 EZ Newswire See release on EZ Newswire
Hans India
21 hours ago
- Business
- Hans India
Markets end lower on IT drag, weak Asian cues
Mumbai:Stock markets closed lower in a range-bound trade on Friday following losses in IT shares and sluggish trends in Asian markets due to trade uncertainty after a US appeals court temporarily reinstated reciprocal tariffs. The 30-share BSE Sensex declined by 182.01 points or 0.22 per cent to settle at 81,451.01 as 24 of its constituents retreated and six advanced. During the day, it dropped 346.57 points or 0.42 per cent to 81,286.45. The NSE Nifty dipped 82.90 points or 0.33 per cent to 24,750.70. Metals, IT, and auto sector shares declined while banking shares gained. Investors were cautious ahead of the release of domestic GDP data post-market hours, analysts said. Among Sensex firms, Tech Mahindra fell the most by 1.73 per cent. HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel also closed lower. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers. 'A range-bound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay on the sideline. The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. 'Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Markets languished in negative territory to end lower amid weak Asian cues as investors cut their position in IT, metal, oil & gas and auto shares,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. The BSE midcap gauge declined 0.39 per cent while smallcap index went up by 0.17 per cent. Among sectoral indices, metal dropped the most by 1.68 per cent, followed by BSE Focused IT (1.14 per cent), commodities (1.14 per cent), utilities (1.09 per cent), teck (0.99 per cent), auto (0.91 per cent) and telecommunication (0.79 per cent). Financial Services, bankex and capital goods were the gainers. On the weekly front, the BSE benchmark declined 270.07 points or 0.33 per cent and the Nifty dipped 102.45 points or 0.41 per cent. Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data. The BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 on Thursday. The 50-share Nifty went up by 81.15 points or 0.33 per cent to 24,833.60.
The Hindu
a day ago
- Business
- The Hindu
Sensex declines 182 points on losses in IT, metal shares, sluggish Asian peers
Stock markets closed lower in a range-bound trade on Friday (May 30, 2025) following losses in IT shares and sluggish trends in Asian markets due to trade uncertainty after a U.S. appeals court temporarily reinstated reciprocal tariffs. The 30-share BSE Sensex declined by 182.01 points or 0.22% to settle at 81,451.01 as 24 of its constituents retreated and six advanced. During the day, it dropped 346.57 points or 0.42%, to 81,286.45. The NSE Nifty dipped 82.90 points or 0.33%, to 24,750.70. Metals, IT, and auto sector shares declined while banking shares gained. Investors were cautious ahead of the release of domestic GDP data post-market hours, analysts said. Among Sensex firms, Tech Mahindra fell the most by 1.73%. HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel also closed lower. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers. 'A range-bound movement continued in the market, with the temporary reinstatement of U.S. tariffs by the appeal court influencing investors to stay on the sideline. The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. 'Meanwhile, FII inflows continued due to the volatility in the U.S. 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Markets languished in negative territory to end lower amid weak Asian cues as investors cut their positions in IT, metal, oil & gas and auto shares,' Prashanth Tapse, Senior VP (Research), Mehta Equities Limited, said. The BSE midcap gauge declined 0.39% while smallcap index went up by 0.17%. Among sectoral indices, metal dropped the most by 1.68%, followed by BSE Focused IT (1.14%), commodities (1.14%), utilities (1.09 per cent), tech (0.99%), auto (0.91%) and telecommunication (0.79%). Financial Services, bankex and capital goods were the gainers. On the weekly front, the BSE benchmark declined 270.07 points or 0.33% and the Nifty dipped 102.45 points or 0.41%. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the negative territory. Markets in Europe were trading higher. U.S. markets ended higher on Thursday (May 29, 2025). Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday (May 29, 2025), while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data. Global oil benchmark Brent crude climbed 0.44% to $64.43 a barrel. The BSE Sensex climbed 320.70 points or 0.39%, to settle at 81,633.02 on Thursday (May 29, 2025). The 50-share Nifty went up by 81.15 points or 0.33% to 24,833.60.
The Hindu
2 days ago
- Business
- The Hindu
Sensex declines 219 points in early trade
Benchmark stock indices Sensex and Nifty declined in early trade on Friday (May 30, 2025), dragged by IT shares and sluggish trends in Asian markets. The 30-share BSE Sensex declined by 219 points to 81,414.02 in early trade. The NSE Nifty dipped 53.6 points to 24,780. Investors turned cautious ahead of the release of domestic GDP data, analysts said. From the Sensex firms, Infosys, Tech Mahindra, HCL Tech, IndusInd Bank, Mahindra & Mahindra and Tata Consultancy Services were among the laggards. Larsen & Toubro, Adani Ports, Eternal, Nestle, Sun Pharma and Maruti were among the gainers. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading in the negative territory. The U.S. markets ended higher on Thursday (May 29). Foreign Institutional Investors (FIIs) bought equities worth ₹884.03 crore on Thursday, while Domestic Institutional Investors (DIIs) bought equities worth ₹4,286.50 crore, according to exchange data. "Stable institutional flows- both FII and DII - are keeping the market steady even in the absence of positive triggers. The ongoing consolidation phase is likely to continue in the near-term. Investors should understand two distinct big trends that will weigh on markets: One, India's macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings. This is the fundamental reason for the range bound movement of the market," V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. Global oil benchmark Brent crude declined 0.48 per cent to USD 63.84 a barrel. The BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 on Thursday. The 50-share Nifty went up by 81.15 points or 0.33 per cent to 24,833.60.
Indian Express
2 days ago
- Business
- Indian Express
Sensex, Nifty decline in early trade on selling in IT shares, sluggish Asian peers
Benchmark stock indices Sensex and Nifty declined in early trade on Friday, dragged by IT shares and sluggish trends in Asian markets. The 30-share BSE Sensex declined by 219 points to 81,414.02 in early trade. The NSE Nifty dipped 53.6 points to 24,780. Investors turned cautious ahead of the release of domestic GDP data, analysts said. From the Sensex firms, Infosys, Tech Mahindra, HCL Tech, IndusInd Bank, Mahindra & Mahindra and Tata Consultancy Services were among the laggards. Larsen & Toubro, Adani Ports, Eternal, Nestle, Sun Pharma and Maruti were among the gainers. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading in the negative territory. US markets ended higher on Thursday. Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data. 'Stable institutional flows- both FII and DII – are keeping the market steady even in the absence of positive triggers. The ongoing consolidation phase is likely to continue in the near-term. Investors should understand two distinct big trends that will weigh on markets: One, India's macros are strong and improving. Two, this positive trend in macros is not getting reflected in corporate earnings. This is the fundamental reason for the range bound movement of the market,' VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. Global oil benchmark Brent crude declined 0.48 per cent to USD 63.84 a barrel. The BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 on Thursday. The 50-share Nifty went up by 81.15 points or 0.33 per cent to 24,833.60.
