<ul><li>Over 11,000 people have lost their jobs so far this year and it could increase further to 60,000.</li><li>Experts predict that the flow of capital is expected to dry for the next 18-24 months.</li><li>In spite of the stress, funds that startups raised grew by 28.6% in funding value between January to April this year, according to a report by GlobalData.</li><li>Here are few startups that are looking to expand their workforce amid layoff season.</li></ul>Startups in India are facing the brunt of a funding winter and have laid off over 11,000 people so far. It could get worse as experts predict that over <a href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-a-little-over-11000-people-in-the-last-six-months/articleshow/92541036.cms">60,000 </a>people could lose their jobs as the flow of capital is expected to remain dry for the next 18-24 months. According to Business Insider India’s calculations, 25 startups, mostly in the ecommerce and edtech space, have resorted to retrenchments. Seven unicorns — Ola, Blinkit, Unacademy, Vedantu, Cars24 and Mobile Premier League (MPL) — were part of the firing list too. In spite of the stress, funds that startups raised grew by 28.6% in funding value between January to April this year, according to a report by GlobalData. It also said that Indian startups raised $12.1 billion till April – via 672 venture capital deals. It means, a few, if not many have the space and funds to grow. Here’s a list of startups that are looking to expand their workforce this year. 1. E-learning platform Utkarsh to hire 500 people Edtech startup Utkarsh is planning to recruit 500 employees from tier 2 and 3 cities by the end of FY23. It is focussing on hiring from Hindi-speaking states like Rajasthan, Uttar Pradesh, Haryana, Bihar and Madhya Pradesh. The company plans to hire senior leadership, educators, and expand their new sales and customer service team. 2. Unicorn LeadSquared to ramp up its employee headcount by 800 SaaS-based marketing automation company LeadSquared, which recently turned into a unicorn after raising $153 million in a series C round, said that it’s looking to double its headcount in a year and a half. This Nilesh Patel-led company will be hiring 800 people over the next few months across sales and marketing, finance, product, engineering, delivery and support functions, as cited by <a href="https://yourstory.com/2022/06/layoffs-saas-startups-hiring-india/amp">YourStory</a>. 3. HappyLocate to hire 600 people by FY23 Tech-based one-stop relocation platform HappyLocate announced its plans to hire 600 people across six departments — sales, HR, accounts, operations, marketing and tech. The company intends to hire fresh graduates from over 50 universities and experienced professionals across the country. 4. Cybersecurity startup Sequretek to strengthen its workforce to 500 Cybersecurity startup company Sequretek to increase its employee headcount from 400 to 500 people across US, Europe, and Asia. The company makes cybersecurity accessible and affordable through a combination of products, platforms and services. 5. Vivifi India to add 1,000 new employees Fintech NBFC Vivifi India Finance aims to amplify its workforce by hiring 1,000 new team members across various streams in FY22. The organization is also looking to expand its geographical territories to newer locations, including in tier 2 and 3 cities, in various states, pan-India, with the headquarters remaining in Hyderabad. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/firing-at-byjus-backed-whitehat-jr-toppr-and-others-left-2000-out-of-jobs-in-june/slidelist/92671183.cms">Firing at Byju’s backed WhiteHat Jr, Toppr and others left 2,000 out of jobs in June</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner</a>

Amid the layoff season, these five startups are on a hiring spree

<ul><li>Indian startups have already laid off a little over 11,000 employees in the first six months of 2022.</li><li>It could get even worse in the near future as experts expect Indian startups to layoff close to 60,000.</li><li>Both low-funded and highly-funded startups have been impacted by this, and would be in the future too.</li></ul>The prospects of a long funding winter has pushed several Indian startups to fire a significant chunk of their employees. However, amid the gloom there are some outliers who continue to hire employees even as they maneuver through the economic challenges. Sridhar Vembu-led software-as-a-service (SaaS) company Zoho Corp plans to hire 2,000 employees in India and abroad this fiscal, as it plans to further scale its operations. Even TaCa Healthcare is continuing its hiring to strengthen its existing business and expand to new geographical locations. The same stands true for other startups hiring amidst the chaos. Indian startups have already laid off a little over<a href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-a-little-over-11000-people-in-the-last-six-months/articleshow/92541036.cms"> 11,000 employees in the first six </a>months of 2022 as the flow of capital is expected to remain constricted for the next 18-24 months. It could get even worse in the near future. Archit Garg, co-founder at Glamyo Health, <a href="https://www.businessinsider.in/business/startups/news/60000-jobs-in-startup-companies-may-lose-their-jobs-this-year-in-india-experts-say/articleshow/91804572.cms">pegs startup layoffs at 60,000</a>. Both low-funded and highly-funded startups have been impacted by this, and would be in the future too. Yogita Tulsiani, the managing director and co-founder of global tech-recruiter iXceed Solutions, noted that most companies hired aggressively during the start of the pandemic and are unable to handle it now. Amidst all this, these are the startups that are hiring at the moment: <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Startups </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hiring </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Verticals </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Timeline </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Zoho </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2,000 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Software developers, quality assessment engineers, web developers, designers, product marketers, writers, technical support engineers and sales executives </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY2023 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vivifi </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,000 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Multiple verticals </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY2023 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">VDO.AI </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">100+ </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tech, sales, operations, finance and strategy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 2022 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">iThink Logistics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">120+ </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tech, marketing, sales in different locations like Mumbai, Surat, Jaipur, Delhi, Bangalore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY2023 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Faircent </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">200-250 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Technology and data analysts, predictive analytics, data mining technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3-6 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Collabera Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">600-800 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BFSI, retail, life sciences and healthcare and Hi-Tech Industry </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4-6 week </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TaCas </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">400 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">LeadSquared </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">800 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sales and marketing, finance, product, engineering, delivery, and support functions </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">MBA Chai Wala </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">500 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Baristas, restaurant staff </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Utkarsh </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">500 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY2023 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HappyLocate </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">600 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sales, HR, accounts, operations, marketing and tech. </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY2023 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sequretek </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">500 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:middle;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY2023 </td></tr></tbody></table> Piyush Bhartiya, co-founder and CEO of AdmitKard — an end-to-end career advisory for students studying abroad — earlier in May highlighted that for every company that is laying off employees there are 100 others who are hiring. “Like I said, some companies are laying off, others like ours are hiring. I do not see that will impact the employment ratios too dramatically,” he added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-itc-infosys-and-other-hot-stocks-on-july-22/articleshow/93041515.cms">Indian markets open in the green – RIL, M&amp;M gain while Nifty IT, Infosys decline</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-prime-day-best-offers-deals-discounts/articleshow/93024348.cms">Amazon Prime Day 2022 – early deals, bank offers, Prime membership and everything else you need to know</a> <a href="https://www.businessinsider.in/business/news/reliance-industries-to-start-fy23-with-strong-earnings-thanks-to-refining-margins/articleshow/93041430.cms">Reliance Industries to start FY23 with strong earnings, thanks to refining margins</a>

Zoho, LeadSquared and other startups continue to hire amid industry layoffs

<ul><li>Indian markets opened slightly lower as SGX Nifty, an early indicator of the market, was down 0.26%.</li><li>Most global markets including peers <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword> gave negative cues ahead of a key Fed rate decision due this week.</li><li>RIL, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword>, ICICI Bank among stocks to watch out for on July 25.</li></ul>Indian stock markets opened lower as expected following its Asian peers. The shares of RIL which fell by 4% in early morning trade, dragged the indices further further down. The oil to telecom major missed analysts’ expectations in June quarter in spite of a 46% jump in net profit to ₹17,955 crore. Infosys stock was also down by 0.75% in early trade, as it announced its results on Sunday, July 24. <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> lost 450 points in opening trade at 55,656 while <keyword id="66115" type="General" weightage="20" keywordseo="nifty-50" source="Orion">Nifty 50</keyword> fell by 100 points to 16,607. Among other top losers was Zomato that lost 12% of its value in opening trade as the one year lock-in period of promoters, shareholders, employees and others ended today. Markets were largely expected to remain volatile this week as the Fed is to announce its decision on interest rates and the US will release second quarter gross domestic product data; later in the week. The movement of the falling rupee is also expected to impact the direction of the market. Here are some of the post-market events from Friday that could have a bearing on the stocks today. Reliance Industries Mukesh Ambani-led company RIL reported 46% yearly increase in its net profit thanks to strong performance of its refining segment, while its telecom business Jio reported a modest 5% sequential growth. Infosys The IT major reported a 5.7% sequential decline in its net profit to ₹5,360 crore in the June quarter, as against ₹5,686 crore in the previous quarter largely on account of wage hikes. ICICI Bank The lender posted a growth of 50% in net profit to ₹6,904.94 crore for the quarter ending June compared to ₹4,616.02 crore last year aided by a sharp reduction in provisions. JSW Steel The company reported 86% on year decline in consolidated net profit of ₹838 crore for June quarter while revenue from operations rose by 31.8% on-year to ₹38,086 crore. HDFC The mortgage lender plans to raise up to ₹11,000 crore by issuing bonds on a private placement basis. Kotak Mahindra Bank The private sector lender reported a 26% on year rise in net profit at ₹2,071 crore for April-June as compared to ₹1,642 crore in the year-ago period. Yes Bank The bank reported a 50% increase in net profit at ₹311 crore for June quarter on a fall in provisions for bad loans, and healthy income growth. Vodafone Idea The telecom operator announced that its current chief financial officer Akshay Moondra will replace outgoing chief executive officer Ravinder Takkar next month. Earnings today Tech Mahindra, Axis Bank, Tata Steel, Canara Bank, IIFL Wealth Management, Central Bank Of India, Glaxosmithkline Pharmaceuticals, Jindal Stainless, Aether Industries, among companies to report quarterly results. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/80-impact-students-going-to-study-abroad-will-feel-the-pinch-but-it-is-worse-for-students-already-there/articleshow/93044954.cms">₹80 impact: Students going to study abroad will feel the pinch, but it is worse for students already there</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/zero-tolerance-for-high-volatility-says-rbi-guv-shaktikanta-das-as-rupee-stays-above-80/articleshow/93049194.cms">Zero tolerance for high volatility, says RBI guv Shaktikanta Das as Rupee stays above 80/$</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/zoho-vivifi-leadsquared-and-many-other-startups-are-looking-new-people-in-different-roles/articleshow/93054022.cms">Zoho, LeadSquared and other startups continue to hire amid industry layoffs</a>

Sensex falls 450 points, Nifty 50 down 100 on weak global cues, disappointing earnings

<ul><li>Overall, <keyword id="982553" type="General" weightage="20" keywordseo="indian-startups" source="Orion">Indian startups</keyword> have raised $13.3 billion between January and May 2022.</li><li>Some of these big ticket deals of May 2022 were Zepto’s $200 million round, Ather Energy’s $128 million round.</li><li>India has still managed to create more unicorns between January and May 2022 compared to the year before.</li></ul>In the middle of a heatwave in May is when the funding winter kicked off this year. May is the first month of the year when the total funds raised fell below $2 billion, according to a recent report by data analytics and consulting company GlobalData. “The decline in VC funding in May suggests that investors are increasingly becoming cautious in placing bets and startups are also realizing the impact of funding winter. In fact, May also witnessed announcement of very few big-ticket deals above and equal to $100 million,” said Aurojyoti Bose, lead analyst at GlobalData. Some of these big ticket deals included Zepto’s $200 million round, Ather Energy’s $128 million round and Absolute’s $100 million. In terms of unicorns, only one company — neobanking startup Open — saw its value rise over a billion dollars in May. Overall, Indian startups have raised $13.3 billion between January and May 2022. Indian startups are next only to Chinese counterparts in terms of VC funding value among the Asia-Pacific (APAC) countries during the last five months of 2022. <cmsannotation type="cmsannotation" annotationid="The funding winter could last for one or two years" comment="subhead" text="The funding winter could last for one or two years">The funding winter could last for one or two years</cmsannotation> Fund flow to Indian startups have been <a href="https://www.businessinsider.in/business/startups/news/he-slowdown-in-unicorn-creation-may-be-there-for-the-next-two-months-too/articleshow/91116175.cms">slowing down </a>since April due to the after-effects of the Russia-Ukraine war, impending recession and Fed rate interest hikes. This is expected to go on for another 12-18 months, if not 24 months, as per experts. “Given this environment, capital will be scarce in upcoming quarters,” Vamsi Krishna, chief executive officer and co-founder of Vedantu, <a href="https://www.businessinsider.in/business/startups/news/after-unacademy-vedantu-has-laid-off-600-people/articleshow/91643403.cms">said</a> in a blog post. Vedantu, Meesho, Cars24 and MFine have already started firing their employees and cutting down their workforce in an attempt to increase their runway. Unacademy too have started to rethink their business model to include more revenue streams. <cmsannotation type="cmsannotation" annotationid="Early and growth stage startups will find it tougher to raise funds" comment="subhead" text="Early and growth stage startups will find it tougher to raise funds">Early and growth stage startups will find it tougher to raise funds</cmsannotation> Even though the Indian startup valuations have taken a hit in April, 2022 has created more unicorns in the first five months of 2022 as compared to the entire year before. According to a recent report by market intelligence provider Tracxn, <a href="https://www.businessinsider.in/business/startups/news/india-created-14-unicorns-in-the-first-half-of-2022-before-funding-slowdown-hit-them/articleshow/91955385.cms">14 Indian companies turned unicorns </a>— valued at over a billion dollars — in 2022. Last year, the number was at 13 during the same time frame. But it is also important to note that only one startup entered the unicorn club in April and May. The pace came back however as PhysicsWallah, Purplle and Leadsquared turned unicorns in June. But stakeholders claim that the funds will flow slowly for the near-term. We Founder Circle’s cofounder Gaurav Singhvi <a href="https://www.businessinsider.in/business/startups/news/tough-times-will-make-startups-go-for-hero-teams-slash-ad-budgets-and-focus-on-profits/articleshow/92270583.cms">told </a>Business Insider India that the investors will have limited capital to invest in startups, which will make them even more selective about the companies they want to invest in. The biggest impact of this limited funding would be faced by early and growth stage startups, instead of well-established companies. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/rejected-i-banks-manufacturers-for-not-having-enough-women-on-board-says-mamaearth-founder/articleshow/92429742.cms">Rejected i-banks, manufacturers for not having enough women on board says Mamaearth founder</a> <a class="tout-title-link" href="https://www.businessinsider.in/cryptocurrency/news/indias-crypto-players-bullish-on-hiring-say-crash-is-just-a-phase/articleshow/92425464.cms">India’s crypto players bullish on hiring; say crash is just a phase</a> <a href="https://www.businessinsider.in/tech/apps/news/google-has-termed-slice-as-a-harmful-app-recommending-users-to-uninstall-it/articleshow/92429265.cms">Slice payments app spies on photos, audio records and call history, says Google</a>

May is the first month of 2022 when startups raised less than $2 billion

Incomes of all kinds are taxable. While a few financially sound people understand the tax calculation on income from salary, rents and businesses, taxes on <keyword id="6357440" type="General" weightage="20" keywordseo="stock-market" source="Orion">stock market</keyword> income calculation is a tad more complicated. Here are a few steps to understand taxes on <keyword id="14528053" type="General" weightage="20" keywordseo="stock-market-earnings" source="Orion">stock market earnings</keyword>: Types of stock market earnings In the first place, you need to know that the income generated through purchasing or selling shares is covered under the category of Capital Gains. The two heads under ‘Capital Gains’ are ‘Long Term Capital Gains’ and ‘Short Term Capital Gains’. Depending on their holding period, shares are classified either as long term or short term. Here the holding period refers to the duration for which the investment is held from the date of acquisition to the date or transfer or sale. The holding periods of shares and securities differ between different types of capital assets. For the purpose of calculating the <keyword id="6354751" type="General" weightage="20" keywordseo="income-tax" source="Orion">income tax</keyword>, the holding period is defined differently for equity mutual funds and debt mutual funds. The taxability also differs in these cases. How equity share gains are taxed Short-Term Capital Gains (STCG) On a given stock exchange, if the equity shares are sold within 12 months from the date of purchase, the seller is said to make either short term capital gains (STCG) or incur short term capital losses (STCL). Short term capital gain results when the selling price of shares is higher than the purchase price. Short term capital gain calculation: Sale price of the share minus (Purchase price of the share + expenses on sale) Short-term capital gains are taxed at 15% irrespective of which tax slab you belong to. Long-Term Capital Gains (LTCG) On a given stock exchange, if the equity shares are sold after 12 months of purchase, the seller is said to make either long term capital gain (LTCG) or incur a long term capital loss (LTCL). Long term capital gain results when the selling price of shares is higher than the purchase price. If a seller makes a long term capital gain of over 1 lakh on selling equity shares or equity oriented mutual fund units, the gains made will be taxed @10% plus whatever cess is applicable. The seller will not have the benefit of indexation. Short-Term Capital Loss (STCL) If there are any short term capital losses from equity share sales, it can be offset against short term capital gains or long term capital gains ensuing from any capital asset. When not set off in entirety, the loss can also be carried forward for eight years and adjusted against short term or long term capital gains made over this eight year period. It is possible to carry forward the losses only IF the taxpayer files the IT returns within the due date. Hence even if the income made in a year is lesser than the taxable income, filing |IT returns are mandatory for availing the provision of carrying forward the losses. Long-Term Capital Loss (LTCL) Any long term capital losses incurred from transfers can be off-set and carried forward. Hence it is possible to off-set the long term capital losses against any other long term capital gains. However, it is not possible to off-set long term capital losses against short term capital gains. If there are any long term capital losses that are unabsorbed, it is possible to carry them forward to the next eight years and can be set off against long term capital gains. To be able to avail of this provision, a person has to file IT returns within the due date. Securities Transaction Tax (STT) STT is applied on the equity shares sold or purchased. These tax implications apply only to the equity shares sold or bought on a stock exchange. All sales and purchases on a stick exchange will invite STT. / Business income Vs Capital Gains Income If you want to treat the income from the sale of shares as business income, the profits you made will be added to the total income generated in a given financial year. Such income is taxed according to your tax slab. If you want to treat income from sale of shares as capital gains, long term capital gains from equity above 1 lakh per year is taxable. On the other hand, short term gains are taxed at 15%. If the taxation rules allow treating the income from sale of shares as a business income is a big question. A lot of uncertainty hovers over this question since taxpayers have received notices from the income tax department seeking explanations on why they chose to treat the income from sale of shares as a business income. Options in front of taxpayers Taxpayers now have the option either to treat the income from sale of shares as a business income or income from capital gains. However, once they make their choice, the same method must continue for subsequent years too unless there is a significant change in the situations of selling shares. This choice is available only to the shares or securities listed. CDBT circular says that the taxpayers can choose to treat the income from selling shares as business income by treating their listed shares as stock-in-trade, irrespective of how long the shares are held. If the taxpayer chooses to treat the income from the sale of shares as capital gains, it is possible to do it in case of shares held for over 12 months. Nevertheless, if the taxpayer makes this choice, the same stand will have to continue for the subsequent years too and changing the stand will not be permitted. In any of the cases discussed above, whether to consider the income from selling shares as business income or capital gains income depends on the concept of significant trading activity and the taxpayers intention to hold the shares either as ‘stock’ or ‘investment’. Sale of Unlisted Shares In case of selling unlisted shares, the sale does not take place in any formal market. Therefore, the Income Tax Department has clarified that the income generated from the sale or transfer of unlisted shares will be taxed as ‘Capital Gains’ irrespective of the holding period. This rule is put in place in order to ensure a uniform approach. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/zoho-vivifi-leadsquared-and-many-other-startups-are-looking-new-people-in-different-roles/articleshow/93054022.cms">Zoho, LeadSquared and other startups continue to hire amid industry layoffs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/niti-aayog-launches-new-app-to-help-with-ev-benefits-savings/articleshow/93054107.cms">Niti Aayog launches new app to help with EV benefits, savings</a>

You Searched For "leadsquared hiring" and got 5 results

Amid the layoff season, these five startups are on a hiring spree

Vaamanaa Sethi

Zoho, LeadSquared and other startups continue to hire amid industry layoffs

Kritti Bhalla

Sensex falls 450 points, Nifty 50 down 100 on weak global cues, disappointing earnings

Bhakti Makwana

May is the first month of 2022 when startups raised less than $2 billion

Kritti Bhalla

How to calculate income tax on stock market earnings

BI India Bureau