The July-September quarter of the 2011-12 financial year is expected to see Indian information technology (IT) services firms meet their guidance.
While Infosys said it would give an average rise of eight per cent to its employees in India, Wipro has announced an increment of six-eight per cent.
In addition, for those applying for certain L-1A and L-1B must submit an additional $4,500.
When mid-size information technology (IT) services company MindTree acquired Aztecsoft in May 2008, many believed this would herald a trend in Indian IT, in terms of consolidation of small and mid-sized firms to enable them to viably compete with bigger ones.
On the second day of placements at the Indian Institutes of Technology, IIT Kharagpur saw IT biggies like Yahoo, Microsoft, and Adobe flock its campus, apart from companies like Amazon, JLLM, 3M and FICO.
Stellar results compared to TCS led to reversal of valuation discount.
'The end of WFH has made achieving work-life integration more challenging for women.'
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
The January-March quarter results for FY2009 reflect the muted growth of Indian IT companies. A look at what lies in the future for the companies in this sector.
Physical security for women, the first step towards getting them into factories and offices, is all but absent in most Indian cities, notes Kanika Datta.
The JD-U supreme leader, whose party, in Parliament, has been supporting the demand for a joint parliamentary committee probe, however, did not seem impressed with the Maratha strongman's preference for an investigation by a 'Supreme Court-appointed Committee'.
Macroeconomic (macro) concerns, along with a cautious approach towards discretionary information technology (IT) spending, will see the revenue for Indian IT firms decelerate by 5 per cent through 2024-25 (FY25), from the highs of 12-18 per cent in 2022-23, said analysts from S&P Global Ratings. "The reason behind this slow growth is a macro slowdown. "Customers are cutting their discretionary IT spending, especially on projects that take longer to deliver quantifiable outcomes. "We also acknowledge that there are still strong economic headwinds for the next few years," said Spencer Ng, associate director, corporate ratings, S&P Global Ratings, over a call in a media briefing.
Some top Indian information technology firms such as Tata Consultancy Services, Satyam Computer and Polaris could feel the heat if Citigroup decides to sell part of its business or look for partners to tide over its losses.Analysts feel TCS' revenue might have an impact as Citi has signed an assured revenue agreement of $2.5 billion (Rs 12,500 crore) for a period of over nine years.
...or just a Covid-era practice, asks Ajit Balakrishnan.
Unilever completed one of the largest cloud migrations in the consumer goods industry, with a little help from Accenture and Microsoft, and has become a cloud-only enterprise. Accenture and Microsoft, together with their joint venture, Avanade, worked with Unilever to deliver the transformation in 18 months with minimal disruption to business operations, Accenture said in a release. The release added that it has not only helped ensure and optimise operations for Unilever but also provides a platform to drive innovation and growth.
It is a common perception that IT specialists are paid handsomely the world over.
Major IT firms Dell, Intel, Aricent, HCL Technologies, Wipro, Lenovo, Nokia and Tulip Telecom, among others, have realised that "going green" is profitable business. Not only does it require a low initial investment but it also earns them brownie points for helping in reducing e-waste.
An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
For the $60 billion Indian IT services industry, the US is the biggest market with almost 50-60 per cent of revenues coming from it.
Bombay Stock Exchange-listed Zensar grew 23 per cent sequentially last quarter. Natarajan says a lot of growth will come from the increasing use of IT within Indian companies.
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
'Chasing sectors which have reported strongest earnings is not always the right strategy for outperformance.'
Industrial production and inflation data, quarterly earnings from IT majors and global trends would drive the equity markets in a holiday-shortened week, analysts said. Moreover, foreign fund trading activity, movement of the rupee and global crude oil prices would also dictate terms in the market, they added. Equity markets would remain closed on Friday for 'Dr Baba Saheb Ambedkar Jayanti'.
With a target to get the IT business back on growth, Kurien will get a salary in the range of Rs 3 crore (Rs 30 million) to Rs 10 crore (Rs 100 million) per annum.
'Investors should hold equity assets for 3 to 5 years.'
Among the Sensex firms, HCL Technologies fell the most by 2.4 per cent. IndusInd Bank (2.35 per cent), Infosys (2.28 per cent), Wipro (1.8 per cent), NTPC (1.71 per cent), Asian Paints (1.7 per cent), Tata Consultancy Services (1.36 per cent),Tech Mahindra (1.03 per cent) and SBI (1 per cent) were among the major laggards.
Race Across America -- which spans a little over 3,000 miles, from the west coast of the US to its east -- is often called the toughest race in the world. Indian cyclists are now returning multiple finishes at RAAM including podium positions within age categories, discovers Shyam G Menon.
'It is a sign of a bigger problem which is coming in the next six months.'
TCS became a slow-moving giant and lost some of its sheen to competitors -- both big and small. Even as TCS remains the primary cash cow of Tata Group, its revenue and profit growth have slowed considerably.
'Sector funds like IT funds should be included only in the satellite portfolio.' 'Limit your exposure to IT sector funds to around 5-10 per cent of your equity portfolio.'
Wipro Ltd on Friday posted 2.8 per cent year-on-year rise in its consolidated net profit for December quarter, at about Rs 3,053 crore. The net profit stood at Rs 2,969 crore in the year-ago period. Revenue of the Bengaluru-headquartered IT company came in at Rs 23,229 crore in Q3FY23, 14.3 per cent higher than the same period of previous year.
State Bank of India is planning to set up an information technology company for which it is scouting for a joint venture partner, Arun Kumar Purwar, chairman, SBI, has said.
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Leaders of several opposition parties were stopped by the police at Vijay Chowk in New Delhi as they took out a protest march from Parliament House to hand over a complaint to the Enforcement Directorate on the Adani issue.
An interview with Wipro's CFO and executive director Suresh Senapaty where he explains what the new structure will mean for the company.
Sikka's remuneration will likely be comparable to CEOs of global giants like IBM and HP.
Embattled Adani group has appointed accountancy firm Grant Thornton for an independent audit of some of its companies in a bid to come clean of the damning allegations levelled by the US short-seller Hindenburg Research and to assure investors and regulators. Sources said the audit is primarily to show to regulators like the Reserve Bank of India (RBI) that the group has nothing to hide and it is in compliance with relevant laws. The audit will specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for.
The company's comments came a day after Gandhi alleged in Lok Sabha that 'Mumbai airport, was taken away from GVK using agencies such as the CBI and the ED, and was given to Adani by the Government of India'.
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