Paytm board shelves bonus issue, prioritises growth and profitability

The board discussed the proposal at its meeting on July 20 before deciding not to take it forward “at this time”, the company said in a stock exchange filing. Paytm may reconsider a bonus issue later.

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Skyroot eyes a rocket a month; FIFA final drives delivery apps

Happy Monday! Skyroot is gearing up for more frequent Vikram rocket launches. This and more in today’s ETtech Morning Dispatch.

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Cleartrip bets on non-air expansion for scale, targets early-2027 breakeven

Flipkart-owned Cleartrip plans to diversify its business beyond flights to achieve breakeven by scaling its hotel, train, and bus verticals. Manjari Singhal called Cleartrip India’s second-largest air-bookings player and “fourth-ish” in hotels, but provided no market-share data. She said approaching the leader would take “a couple of years”.

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NTA probe finds NEET OMR sheets 'completely AI-generated', tampered; legal action likely

The National Testing Agency found one disputed NEET OMR sheet was AI-generated. Another OMR sheet submitted for scrutiny was discovered to have been tampered with. This follows allegations from students regarding discrepancies in their recorded responses and final scores. The NTA will pursue legal action against those submitting fake or manipulated OMR sheets. Around twenty lakh candidates appeared for the NEET examination this year.

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Users of Meta's Facebook, Instagram report suffering some outages

Social media platforms Instagram and Facebook experienced widespread outages on Sunday. Users in the United States reported significant issues accessing both the app and website. Downdetector data showed thousands of reports filed by affected users. Access to these popular platforms was also intermittent in Singapore. Meta has not yet provided an immediate comment on the disruptions.

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Equity norms under Semicon 2.0 to drive investment for advance chips design by Indian cos: IT Secy

India's Semicon 2.0 program will offer equity incentives for chip design firms. This initiative aims to attract significant investment for advanced chip development. The government will co-invest with venture capitalists to fund high-end chip designs. India's focus is on deepening its chip design ecosystem and developing intellectual property.

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Tata Electronics cyberattack: Mandiant recommendations implemented to prevent future breaches

On June 23 ransomware group World Leaks posted more than 200,000 files to the dark web, including details on projects related to some of the company’s global clients, which include Apple and Tesla. Three days later, it said that the company had launched a probe and had tightened internal security protocols.

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Karnataka tops India with 41% share in software exports

Karnataka ranks first in the country by contributing 41% share to India's total software exports. Additionally, the state has maintained its top position by securing a 24% share in the nation's overall export sector. In terms of merchandise exports, the state holds the fourth position with a 7.78% share, following Gujarat, Maharashtra, and Tamil Nadu, it said.

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US judge won't block Meta from laying off workers who filed AI discrimination lawsuit

​​District Judge William Orrick in Oakland, California, in a written order said he would not stop Meta from carrying out the layoffs beginning July 22 while the merits of the workers' novel legal claims are decided in private arbitration. ​​The lawsuit filed on Monday claims that in selecting jobs to cut, Meta relied on AI tools that measured productivity and AI token usage, disadvantaging people who missed work because of medical conditions or to care for family members.

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Chinese filing implies DeepSeek valuation of around $52 billion

The stock-exchange filing offers rare public evidence about the pricing and investor lineup of DeepSeek's maiden external fundraising, which the company has never announced. As a private company, DeepSeek ‌has no routine ⁠disclosure ⁠obligations.

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Manufacturing automation platform Groyyo raises $9.3 million led by Cornerstone Ventures

Groyyo offers fashion brands and manufacturers software to manage apparel sourcing, including product design, costing, production planning, quality checks, and logistics. It plans to use the capital to fund expansion across new geographies, deepen its supplier network, and advance the AI capabilities powering its tech platform.

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