The Wipro's office on Hosur Road was completely flooded and the company said it has made arrangements for the employees to work in its other offices in the city.
Analysts are of the opinion that 55 may emerge as the new age to retire for techies in India
Indian IT firms have piled up net cash in excess of Rs 20,000 crore
India's top IT companies have shown a hiatus between their performance on the bourses in the pandemic period and earnings growth. The combined market cap of the top five IT companies - Tata Consultancy Services, Infosys, Wipro, HCL Technologies, and Tech Mahindra - is up 87 per cent since the end of March 2020. In comparison, the benchmark BSE Sensex is up 68 per cent during the period. So the industry beat the broader market by a big margin in the last one year.
While there has been an improvement in the overall demand environment, the other reason expected to trigger this growth is the absence of a bench strength in most companies
Amid Trump's expected action against employment visas, India's bellwether IT firms reveal they have been preparing for this eventuality for years.
Hackers attempted to break into different websites of Andhra Pradesh Government departments on Monday even as a security audit was being conducted at the State Data Centre maintained by Wipro.
At a time of massive job losses that is what the much-vaunted Indian IT sector needs. Ritwik Sharma reports.
Despite wage hikes, an appreciating rupee, and fewer working days nibbling at their profit margins during the quarter ended December 31, 2007, the five IT majors Tata Consultancy Services (TCS), Infosys Technologies, Wipro, Satyam Computer Services and HCL Technologies posted revenue and net profit figures that were in line with market expectations.
Mid-sized IT firms have stepped up hiring in the current fiscal year, adding more than half as many employees in the first quarter of FY19 as compared to the whole of the previous financial year. This momentum is likely to continue for the rest of 2018-19 (FY19) as well.
With prominent Indian IT companies such as Tata Consultancy Services (TCS), Wipro, Infosys Technologies, Zensar Technologies and Satyam Computer Services increasing their presence in Japan, the world's second largest IT services market is becoming a lucrative market for India.
Infosys Technologies' fourth-quarter results have been poorly received. The bellwether stock has taken a severe beating, bringing the markets down with it.
The catchwords today are digital, analytics, robotics.
Auto major plans to cut technology outsourcing from 90 to 10 per #162 TCS, Wipro, others could be at receiving end
Indian IT (information technology) firms are not unduly worried about the rupee rising against the dollar, at least for now.
Information technology firms appear to have lost their appeal at the Indian Institutes of Technology. Campus recruitment figures by major Indian and foreign IT firms have dipped this year, raising further concerns of an industry slowdown.
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.
While recruitment is falling, the capabilities needed to land an IT job are stiffening.
However, the Indian market is not in good shape, he said.
Happiest Minds expects revenue to touch $100 mn in 3 years, the fastest in India's tech services sector.
Wipro Chairman Azim Premji is amongst Fortune magazine's list of 25 most powerful business leaders outside the United States.
The Oriental Bank of Commerce has tied up with Infosys and Wipro for centralised banking solutions to provide customers with "anywhere anytime" services.
And it's not an IIT graduate who's bagged it, report Gireesh Babu & Vinay Umarji.
"Critical data which has to be resided in India is an important component that needs to be clarified, as this will be arguably uncovered on an ad hoc basis as we move forward."
Infosys Technologies and Reliance Industries have emerged as 'India's most respected companies' in a survey conducted by IMRB International, based on a nationwide peer-perception survey.
The rupee, which rose by over 12 per cent against the dollar this year, has slowed down the hiring plans of companies like Infosys, Satyam and HCL Technologies and also put pressure on their margins. Country's top software exporters -- TCS, Infosys, Wipro, Satyam and HCL Technologies have added 25,801 employees in the second quarter of 2007-08, against 27,000 in the second quarter of last fiscal.
An investment worth Rs 1,000 in Reliance Industries' initial public offer about 35 years earlier is now worth Rs 778,000, said its chief, Mukesh Ambani, on Thursday.
The India information technology industry, including exports and domestic market and semiconductor industry, is gaining traction despite challenges, said Azim H Premji, chairman, Wipro, at the third Freescale Technology Forum in Bangalore on Monday.
The 12-member team includes seven senior executives of MindTree, including Soota himself, three from Wipro and one from Infosys.
'Azim Premji has given away about one-and-a-half lakh crore rupees of his wealth.' 'Most of us will not even know what that sum actually means.' 'To put it into context, it can fund India's health budget and education budget,' points out Aakar Patel.
Wipro rose the most, up 3.12 per cent, ahead of its board meeting to discuss buyback of shares.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Infosys has drawn up a vision to position itself as a next generation services company.
Blame it on improved business climate, restructuring within companies or just the basic need to pursue better opportunities -- the Indian information technology industry is seeing heavy churn at the top.
The information technology sector in West Bengal is likely to see addition of 20,000 jobs in 2008. The state currently has about 300 small to big sized companies and employs 55,000.
In the quarter, Cognizant's revenue grew one per cent over the past quarter in North America.
The six IT majors -- TCS, Infosys, Wipro, Satyam, HCL Technologies and Congizant -- along with two BPO giants Genpact and WNS are recording a yearly growth rate of over 40 per cent, according to technology consultancy firm Everest Group. Apart from these big names, all the other smaller players are struggling at a growth rate of around 20 per cent a year, Everest Group CEO Peter Bendor-Samuel told PTI.
The Durbin-Grassley Bill might have fallen through but large Indian information technology service providers are taking no more chance of being seen as job snatchers in the US.
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.
