As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
The heat index in major metro cities in the country has majorly risen since 2010 compared to a decade earlier.
After weeks of organisational shakeup, Tata Digital's new chief executive Naveen Tahilyani has come up with a revamped executive team for the Neu super app. Tahilyani announced his A-team in an internal mail to employees. The focus of the rejig has been to streamline the structure of the leadership and make the firm nimble and business focused.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
India's smartphone shipment grew by 11.5 per cent in the first quarter of calendar year (CY) 2024 on a year-on-year basis to 34 million units. This is the third consecutive quarter of growth in shipments, International Data Corporation's (IDC) Worldwide Quarterly Mobile Phone Tracker said.
K Krithivasan, chief executive officer (CEO) and managing director (MD) of TCS, took home a salary of Rs 25.4 crore in 2023-24 (FY24), less than chief operating officer and executive director N Ganapathy Subramaniam. Krithivasan took charge as CEO on June 1, 2023.
IT services major LTIMindtree reported a net profit of Rs 1,100 crore for the fourth quarter of financial year 2023-24 (FY24), down 1.2 per cent year-on-year (Y-o-Y) from Rs 1,141 crore in the same quarter last financial year. Revenue grew 2.3 per cent Y-o-Y for the fourth quarter to Rs 8,892.9 crore. Sequentially, revenue was down 1.4 per cent.
With US-based electric vehicle (EV) maker Tesla scouting for a suitable location for its foray in India, Rajasthan has joined the fray with a host of offers to woo the Elon Musk-led company. Other challengers include Gujarat, Tamil Nadu, and Maharashtra. Sources privy to the development said that an initial meeting between the senior executives of Tesla and the government of Rajasthan, which was held last week, turned out to be "quite positive." Tesla would now carry out a survey and is expected to share the survey details with the state's investment promotion department soon.
With the rush of growth after the pandemic slowing down, many leaders are moving to firms that may be smaller but are growing much faster and have the headroom to grow.
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Wipro has once again chosen to bet on an insider who has grown through the ranks to lead the company. Srini Pallia has spent over three-decades at Wipro and it's the only company he has ever worked with. Till now, Pallia was heading the Americas-1 unit.
Oravel Stays, the parent company behind the travel tech brand Oyo, is eyeing to clock Rs 100 crore in Q4FY24 profit after tax (PAT) and a 20 per cent revenue growth for FY24, according to informed sources. These numbers were part of an internal review meeting between founder Ritesh Agarwal and senior management earlier this week, where he spoke about the company's profitability trajectory and growth in business.
As India's electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure 'zero load shedding' during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with industry stakeholders, Union Minister for Power, New, and Renewable Energy R K Singh emphasised the importance of adequate planning to avoid situations where one state has surplus power while another state faces shortages.
Key infrastructure sectors -- from railways to power, and from coal to petroleum -- will not only be part of the achievements but promises too, as the BJP fights to get a third term at the Centre.
Meta is working closely with the Election Commission. This enables the Commission to flag unlawful content.
Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
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