Be careful about what you wish for,
Dear Balbir Singh Sooch,
Persistent Systems started off in 1990 with a focus on building IT products and intellectual property, when it was services that fetched the largest contracts. The company showed great promise but lost its shine along the way. Over the past few years, there have been a slew of senior-management exits and the company has struggled to maintain its margins. It is now betting on services and solutions to stage a comeback. Can the new management team hired over a year ago steady the ship?
Persistent Systems’ road to revival
Two young engineers had been working in project-management roles in Bengaluru for almost four years. But what they actually wanted was to become entrepreneurs. Be careful about what you wish for, they say, and it’s not for nothing. Through a series of events, both of them became members of the board on Minance entities. What happened next is bizarre and scary.
Aspiring entrepreneurs’ startup dreams turn into a nightmare
India Energy Exchange and Power Exchange India have started real-time trading of power. The new system allows discoms to buy power a lot cheaper, according to their day’s requirement, and just an hour before they need it. This can help save up to INR550 crore annually. The new mechanism will also help integrate a higher quantum of renewable-energy resources into the grid.
Inside real-time power trading
Regards,
ET Prime Team