All stories by Debasis Mohapatra
With core business shaky, IT services cos to take a revenue hitRediff.com29 Jan 2020
Experts are of the opinion that though digital services hold the future, the companies are likely to take a hit during the transition period.
Wipro Ventures plans to invest $150 million in tech start-upsRediff.com17 Jan 2020
Wipro Ventures is currently managed by Biplab Adhya and Venu Pemmaraju and has so far invested in 16 early to mid-stage start-ups. While 11 of these start-ups are in the US, four are in lsrael and one in lndia.
Whistleblower case: Infosys audit panel found no 'financial impropriety'Rediff.com11 Jan 2020
The company said the committee, headed by independent director D Sundaram and assisted by independent legal counsel Shardul Amarchand Mangaldas & Co, and PricewaterhouseCoopers, found that the "allegations are substantially without merit".
Rishad Premji to be non-executive chairman at WiproRediff.com4 Jan 2020
Once implemented, Rishad Premji will be one of the youngest business leaders to don the role of non-executive chairman at a large cap Indian company.
Boeing 737 Max crisis: Indian IT firms may take a $1-bn hitRediff.com3 Jan 2020
Major IT firms such as Tata Consultancy Services, HCL Technologies, Infosys, Cyient, and L&T Technology Services have direct exposure to Boeing or its suppliers' ecosystem, which comprises engine manufacturers, body suppliers, and avionics providers. These firms provide services like application development, testing, engineering, avionics, and business process management for the Boeing 737 Max programme.
Large Indian IT firms may steal a march over global peers to clinch dealsRediff.com30 Dec 2019
Around 1,680 deals worth over $80 billion will be renewed next year. Among Indian vendors, Infosys, TCS, and HCL Technologies are better placed to see a higher growth rate in 2020.
3 key reasons why IT cos in India are cutting jobsRediff.com18 Nov 2019
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
Slowdown has also hit India's liquor industryRediff.com14 Nov 2019
Experts are of the opinion that though the second half of this financial year will see some recovery, volume growth is likely to remain in single digit as compared to the double-digit rise recorded in past years.
Indian IT firms worst hit as H-1B visa rejections riseRediff.com31 Oct 2019
Among IT services firm, Cognizant witnessed over 60 per cent of its initial applications rejected, followed by Capgemini, Accenture, Wipro, and Infosys. In 2018, the top six Indian firms got just 16 per cent or 2,145 H1B work permits.
Infosys readies new global delivery modelRediff.com30 Sep 2019
Experts said this would not only reduce Infosys' dependence on the H1B visa, which has seen increased restrictions under the current US administration. It will also help the company in building an employee pyramid for its future operations.
PSB mergers may mean Rs 5,000-cr demand in IT outsourcingRediff.com9 Sep 2019
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
IT sector sees highest-ever hires in AMJ quarterRediff.com2 Sep 2019
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
Coffee Day brings in ex-CBI boss to probe Siddhartha's letter, study accountsRediff.com31 Aug 2019
The assignment was earlier given to global audit firm EY. But it has now been reassigned owing to 'certain conflict of interest', the Bengaluru-based company said.
CCD's fundraising could be hit by complex shareholdingRediff.com2 Aug 2019
A complex holding structure and unrelated businesses clubbed under one roof could have been the reasons that prompted investors to shun the stock, experts say. These are likely to impact the company's ability to raise funds, too, they add.
Mindtree techies worry over work culture shift as L&T takes chargeRediff.com23 Jul 2019
While the leadership change in Mindtree is yet to happen, there's a buzz that the co-founders of the IT firm may float another company.
At his last AGM Premji outlines Wipro's 4 focus areasRediff.com17 Jul 2019
Digital, cloud, engineering services, and cybersecurity will drive Wipro's growth. 'Based on approval from the board, we have decided to step up our investments significantly in these four big bets,' Premji said in his last address as executive chairman.
Decline in global client spending may put Indian IT sector under stressRediff.com11 Jul 2019
Though global IT services spending is likely to cross the $1-trillion mark to reach $1.031 trillion, growth rate will slow to 3.8% in 2019, compared to 6.7% last year according to reports
Good news for techies; 25,000 openings in Indian IT sectorRediff.com1 Jul 2019
From Accenture to IBM, IT hiring is set to gain pace where most of these openings are for lateral hiring for people with 4-6 years of experience.
Ghosts of Panaya, Skava continue to haunt InfosysRediff.com24 Jun 2019
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
'A Bharat Ratna among businessmen'Rediff.com22 Jun 2019
'He is a role model for Indian industry.'
Mindtree set to appoint 3 L&T nominees as board directorsRediff.com21 Jun 2019
With this rejig, Mindtree's board will now have 12 board members from eight.
Adverse action on audit firms may put IT cos in a spotRediff.com18 Jun 2019
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
Tough challenges ahead for Rishad PremjiRediff.com18 Jun 2019
'His working style differs from his father as he is a quick decision-maker.'
Azim Premji's legacy is a reflection of his business acumenRediff.com16 Jun 2019
People mostly say 'work hard and party harder', but Premji's concept is 'work hard and work harder'. With close to 70 per cent of his wealth pledged to charity, Premji is also the epitome of a true leader who makes a mark in giving back most of his wealth to society.
Sports is where Infy plans to show its prowessRediff.com10 Jun 2019
Such partnership will not only give the company an opportunity to showcase its expertise in new technology areas, they will also help in boosting its brand image with clients and employees
Uncertainty haunts shareholders of L&T, MindtreeRediff.com30 May 2019
L&T is pursuing a controlling stake of 66 per cent in the mid-tier IT firm, for Rs 10,700 crore.
Why Indian IT services firms are facing a talent challengeRediff.com24 May 2019
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
Infosys CEO Salil Parekh took home a pay package of Rs 24.67 crore in FY19Rediff.com20 May 2019
The CEO's compensation included a fixed salary component of Rs 6.07 crore, variable pay of Rs 10.96 crore and perquisites worth Rs 7.64 crore.
IBM takes the AI route to hire, retaining employeesRediff.com17 May 2019
IBM started using Watson last year in India in two of its key divisions, services and infrastructure, for the bulk of its 150,000 employees as part of its "predictive retention" programme.
Which jobs will go at Cognizant?Rediff.com7 May 2019
This time, not only would the job cuts be higher, but they would be even more broad-based, encompassing various levels of employees.
How Amazon plans to take on rivals in grocery spaceRediff.com1 Apr 2019
At present, other large players in the grocery and food retail space include Flipkart Supermart, Bigbasket, and Grofers.
Infosys to buy 75% stake in ABN AMRO Bank subsidiaryRediff.com29 Mar 2019
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
How Mindtree plans to thwart L&T's takeover bidRediff.com22 Mar 2019
Mindtree plans to recommend to its investors not to subscribe to the open offer, citing low offer price, among key reasons. The founders were exploring several other options, including coming out with a counter open offer, with the backing of a financial investor.
IT services firms eye larger share of global engineering dealsRediff.com21 Mar 2019
According to Nasscom, engineering services exports had grown at 13 per cent in 2017 compared to six per cent rise in IT services exports and eight per cent in business process management (BPM). It had also recorded the highest growth in the last three years, reports Debasis Mohapatra.
How Wipro plans to beat Street estimates in profit termsRediff.com8 Mar 2019
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
Why H2 will bring little cheer to India's IT firmsRediff.com5 Mar 2019
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
Kiran Mazumdar-Shaw fined by Infy for 'insider trading'Rediff.com1 Mar 2019
The penalty collected from Mazumdar-Shaw will be donated to a charitable organisation of her choice.
IT majors' product plans put them at risk of cannibalisationRediff.com19 Feb 2019
Their plan to build a product portfolio will discourage global software vendors such as Oracle, Microsoft and Fidelity, among others, from building a strategic relationship with these big Indian IT firms, reports Debasis Mohapatra.
Cognizant to pay $28m in US to settle India bribery caseRediff.com16 Feb 2019
The company, which had made voluntary disclosures about the bribery incident to the US authorities, also said with this resolution, there was no pending investigations against Cognizant.
For CCD's VG Siddhartha, brewing fortunes is second natureRediff.com10 Feb 2019
Siddhartha's knack for value investment dates back to 1995 when he infused capital in Kshema Technologies, which was acquired by MphasiS. He also took an early exposure in Mindtree way back in 1999. Since 1995, he had invested in more than 15 technology companies including chip-designing firm Ittiam Software, and GlobalEdge Technologies, among others, says Debasis Mohapatra.