Agriculture is known as the backbone of the Indian economy, employing 40% of the population. However, this sector falls short...

Tech Mahindra, on Monday, announced the acquisition of Com Tec Co IT Ltd (CTC), a European IT firm and 25 percent stake in two insurtech platforms for a total of EUR 330 million (about Rs 2,800 crore). To understand how the acquisitions will aid Tech Mahindra and its strategy going ahead, CNBC-TV18 spoke to Vivek Agarwal, President – BFSI, HLS & Corporate Development of the company.

The acquisition of Com Tec Co IT (CTC) is the second-largest acquisition that Tech Mahindra has made after scam-hit Satyam in April 2010. Tech Mahindra acquired Com Tec Co IT (CTC) for 310 million euros (around Rs 2,628 crore), including earnouts and synergy linked payouts. CTC had revenue of EUR 71.3 million in 2020 and has reported a total revenue of EUR 58.8 million in the nine months ended September 2021, according to Tech Mahindra's regulatory filing.

In an interview with CNBC-TV18, Vidhya Srinivasan, CFO, Bata India, said that COVID third wave hasn’t impacted demand as much as the second wave. She believes normalcy will return a lot sooner this time around as compared to COVID second wave. She explained that owing to the ongoing pandemic and the work-from-home culture, the company is focusing on casual and activewear shoes as there's a shift in consumer preferences in this regard.