The scheme of arrangement for the spin-off of NIIT's software division is expected to be implemented from June 2004, company CEO Vijay Thadani said on Monday.
IT solutions major NIIT Technologies has tied up with Powerise IT, a leading Chinese software company, to jointly address the emerging software market.
NIIT Technologies continues to show resilience despite the weakness in the West. The tier-2 IT services company reported sustained order flows and employee utilisation as well as moderate attrition rates for the June 2012 quarter. CEO Arvind Thakur about how they are surviving the slowdown.
Scores of leading SEZ promoters, including Infosys Technologies, CMC Ltd, Hindalco Industries, NIIT Technologies, HCL Technologies, Orient Craft Infrastructure, L&T Phoenix Infoparks and K Raheja Corp, have sought more time from the Board of Approval, which is meeting in New Delhi on June 2.
NIIT acquired CognitiveArts that proves custom knowledge solutions for US corporates.
In fact, firms like NIIT Technologies and EXL Services are already reaping the benefit of the first- mover advantage with over 20 per cent of their revenues coming from non-linear business in the quarter ended September 30. A non-linear business' focus moves away from the tendency to measure growth on the basis of headcount or the concept that the more the number of people working, the more the revenue.
Analysts are of the opinion that given the change in the business model, which is resulting in smaller deals spreading across the whole year, clients may be already renegotiating prices.
NIIT Technologies Ltd, the recently demerged arm of NIIT Ltd, on Tuesday reported a six fold increase in net profit at Rs 13.4 crore for the quarter ended June 30, 2004.
NIIT Technologies said on Tuesday it has got the regulatory approval to set up a special economic zone in Greater Noida.
NIIT Technologies on Friday reported a 133 per cent year-on-year increase in net profit at Rs 13.3 crore (Rs 133 million) in the third quarter of this fiscal.
NIIT on Friday said its software business would be spun off by the third week of June and the whole exercise is on course as per its plans.
IT major NIIT on Thursday reported a consolidated profit after tax of Rs 3.4 crore (Rs 34 million) for the quarter ended June 2003 as against a loss of Rs 1.3 crore (Rs 13 million) in the corresponding period a year ago.\n\n\n\n
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
Mindtree, eclerx and Hexaware are trading at similar valuations to that of the larger peers.
Even though the company's revenue figures are not public, it has so far raised $93 million in four rounds of funding.
The surge in IT, auto and FMCG stocks were led by investors seeking safety against market volatility.
As IT midcap stocks ride high, it has created speculation around a potential bubble with analysts picking the midcaps' client concentration as the biggest concern area.
Of these 26, Bajaj Finance, Associated Alcohols and Breweries, Garware Technologies, Filatex India, Tasty Bite Eatables, Aarti Industries and GMM Pfaudler saw an over 10-fold surge in price since 2014.
Nifty ends above 8,600; Tata Motors, RIL top leaders
Revenues, profit margins will be hit in the next one year, but more demand in the longer run.
The job placement rate for students trained by NIIT in China is over 90 per cent.' A revealing excerpt from Saibal Dasgupta's Running With The Dragon: How India Should Do Business With China.
The S&P BSE Sensex has dipped five per cent, thus far, in CY15.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
At a time of massive job losses that is what the much-vaunted Indian IT sector needs. Ritwik Sharma reports.
Markets surged in late trades to snap five-day losing streak led by bank shares.
Pharma major Lupin and mortgage lender HDFC were the top losers.
Given their growth prospects and reasonable valuations, Mindtree, Hexaware and NIIT remain top picks of most analysts.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
Anant Gupta, HCL Technologies' chief has an amazing success formula to get things done.
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