All stories by Debasis Mohapatra
Sachin Bansal's Navi app among India's top 3 digital lendersRediff.com24 Jul 2020
The Navi lending app, launched in May, provides instant loans of up to Rs 5 lakh, with repayment tenures of up to 36 months.
Covid-19 impact: 10,000 IT professionals may have lost jobs in Q1Rediff.com13 Jul 2020
The appraisals being done by most companies this year are harsher than past ones with higher threshold in many metrics. Reduction in headcount has been done across most tier-I and tier-II IT firms along with global technology firms in the country.
Why Indian IT firms are bracing for more disruptionsRediff.com8 Jul 2020
Most Indian IT firms work as system integrators for Huawei and though the exposure is very less as of now, the potential is more due to 5G roll out. As pressure to keep the Chinese firm out of the 5G network grows, other global firms, including Japan's NEC, South Korea's Samsung, Finland's Nokia and Sweden's Ericssion are increasing their investments to grab more market share in the telecom sector.
Infosys charters a flight to bring back staff stuck in USRediff.com7 Jul 2020
76 families took a Qatar Airways flight from San Francisco on Sunday evening and reached Bangalore International Airport after a 20-hour flight. These employees were stuck in the US due to various reasons.
WFH, H1-B visa suspension dominate Infy's virtual AGMRediff.com28 Jun 2020
The annual meet also saw some shareholders of the country's second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions.
Visa woes: Demand for subcontractors may rise in USRediff.com26 Jun 2020
This is expected to benefit subcontractor firms such as Manpower Group, Randstad, Adecco, Kelly Services, Allegis Global Solutions and a host of other boutique staffing firms which supply skilled manpower to technology companies in the US.
Covid-19 crisis: $30-billion headache for IT companiesRediff.com26 Jun 2020
According to outsourcing advisors and experts, while almost half of the deals are likely to see delay, the others are expected to be renewed at a lower price as enterprises ask for discounts in roll-over contracts.
Wipro's new CEO may earn up to Rs 40 cr a yearRediff.com20 Jun 2020
Thierry Delaporte's pay package would be around 34 per cent higher than the total compensation that Wipro CEO Abidali Neemuchwala received in financial year 2019-20 (FY20). It also brings the Wipro CEO's salary on par with other top IT firms such as Infosys and Cognizant.
Revealed! Why Infosys is hiring freshers in lockdownRediff.com16 Jun 2020
The IT firm will soon initiate discussions with colleges to start the process from September.
As projects get delayed, bench staff at IT firms riseRediff.com12 Jun 2020
As enterprises halt ongoing projects or cancel them, all staffers working on such projects are placed on the bench. In some cases, IT firms have to reduce billable staffers in a project as clients ask for scaling down support, leading to rise in reserved employees.
Covid-19 claims contract staff in IT services firmsRediff.com16 May 2020
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
Mid-tier IT companies at more risk than big playersRediff.com15 Apr 2020
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
Wipro, not TCS or Infy, to kickstart Q4 results seasonRediff.com12 Apr 2020
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
More trouble brews for Indian tech companiesRediff.com3 Apr 2020
Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.
Revenues of IT companies may take a big hit in FY21Rediff.com2 Apr 2020
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
Top 3 IT firms lose $31 bn in a fortnightRediff.com18 Mar 2020
Stock market crash: TCS sheds $21 billion in market capitalisation, Infosys $7 billion and Wipro around $3 billion
Why these 2 Indian tech cos are better poised to tackle coronavirus ImpactRediff.com11 Mar 2020
While discretionary spend by global enterprises is likely to negatively impact all Indian IT firms, more revenues from products and less exposure to financial services segment are likely to lessen the impact for HCL Technologies and Tech Mahindra.
Who will be Wipro's new CEO?Rediff.com19 Feb 2020
Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
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.