The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
'Historically, many chief financial officers have not been comfortable with investing today for indirect value in the future.' 'This reluctance can skew investment allocation to tactical versus strategic outcomes.'
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
'We added a significant number of freshers in Q1. You will see a good number of hiring in Q2 as well.'
Domains spoofing the legitimate Olympics Web site, while fake mobile apps masquerading as transport, booking, or other planning apps are also certain to be leveraged by fraudsters during the event, cybersecurity firms say, which puts Indian users also at risk.
'We are sure FY25 is going to be better...But to call out that all problems are behind us is a bit early.' 'The underlying business sentiment has not changed significantly.'
The IT giant has reported a decline in headcount for six consecutive quarters.
'20 per cent of the global AI researchers are of Indian origin, and we should bring them back.'
The June quarter is usually considered as a seasonally strong period for the IT sector.
For Dinesh Nirmal (pictured), who heads IBM Software, one of his mandates is to integrate generative artificial intelligence (GenAI) into all products IBM builds and leverage it to enhance developer productivity across global labs. Nirmal believes that one of the biggest benefits of GenAI is automation, leading to optimisations and productivity gains. He shares that IBM Software has observed productivity gains of 30-40 per cent in some segments of software development.
Nasdaq-listed IT services major Cognizant on Tuesday said the firm's Chief Financial Officer (CFO) Jatin Dalal (pictured) had reached a settlement in the "non-compete" lawsuit filed by Wipro. The terms of the settlement, which was reached without any admission of liability by either party, are confidential. The settlement resolves all pending disputes between Dalal and Wipro, said the company in a statement. Cognizant has paid $505,087 (around Rs 4.1 crore) in connection with Dalal's settlement.
'The top five IT giants are not hiring, but most of the freshers want to start their careers with the top five IT firms.' 'In today's scenario this is a challenge.'
Finally, some good news for the Indian startup ecosystem. After four consecutive half-year periods of declining funding since 2022, the first half (H1) of 2024 has shown an upward trend compared to the second half (H2) of 2023. According to the India Tech Semi-Annual Funding Report H1 2024 by Tracxn, Indian technology (tech) startups raised $4.1 billion in H1 2024, marking a 4 per cent increase from $3.96 billion in H2 2023.
'At present, we are conducting internal consultations with legal minds and other stakeholders.' 'Once we have a reasonable draft, we'll then engage in broader consultations.'
In a move to deepen manufacturing in electronics in India, the Centre is targeting 35-40 per cent value-addition through the yet-to-be launched production-linked incentive (PLI) scheme for electronics components, sources in the government
Many who track the ministry and the technology sector closely believe that the space won't see much impact on the policymaking side, but the gestation time for regulations might get long, as now there could be a wider consensus-building exercise on policy matters under a coalition government.
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.'
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'.
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