Top 5 tech and startup stories of the day

1. Ola Electric auditor raises concerns over Q1 results

The auditor of Ola Electric has flagged a reversal of a Rs 57 crore provision in the company's Q1 results due to a penalty waiver for missing investment targets under the government's PLI scheme.

2. GalaxEye strengthens satellite engineering with StarOps acquisition

Spacetech startup GalaxEye, backed by Infosys, has acquired spacecraft engineering firm StarOps to enhance its satellite-building capabilities and speed up product development.

3. Info Edge reports strong Q1 performance

Info Edge posted a 43% rise in net profit to Rs 490 crore in the June quarter, driven by improved enterprise hiring at its Naukri platform and stronger momentum at its 99acres job portal.

4. Paytm shares jump after Bernstein upgrades target price

Paytm shares rose 5% to Rs 1,506 on the BSE after Bernstein increased its target price to Rs 2,200 from Rs 1,500, citing potential improvements in UPI merchant discount rates and enhanced FY30 earnings per share.

5. LinkedIn CEO predicts boom in AI jobs in India

LinkedIn CEO Dan Shapero said that India is emerging as a key artificial intelligence jobs hub, with AI engineering roles up 51% on-year, and Indian engineers making up 41% of overseas R&D hiring by US companies between 2019 and 2025.