'At the moment, it seems to be budgeted at Rs 300 crores with no sign of completion in the immediate future.'
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
Revenue up 15.8% at Rs 34,261 crore over year-ago period.
'It is very disturbing to know that even in today's world women are treated differently.'
Wipro on Friday revised upwards its IT services revenue outlook to 8-10 per cent sequential growth in the June 2021 quarter, following the completion of its $1.45 billion buyout of Capco. While announcing its March quarter results earlier this month, Wipro had said it expects to log a sequential growth of 2-4 per cent in its IT services revenues in the June 2021 quarter without including revenue from Capco and Ampion acquisitions. In March, Wipro had announced the acquisition of London-headquartered Capco in a $1.45 billion (over Rs 10,500 crore) deal - its largest ever till date.
Within two days, the business school had 108 recruiters making 370 domestic and international offers, including 23 new final recruiters with an average salary of Rs 25.08 lakh.
With economic activities gathering pace post easing of lockdowns across the country, hiring activities in most sectors have shown significant recovery in October over the previous month, says a report. On yearly basis, however, the overall hiring was down by 17 per cent in October, according to the Naukri JobSpeak Index for October' 2020.
In 2020, retail and e-commerce sector will lead the table and is expected to generate 112,000 jobs followed by IT & ITeS (105,500), FMCG (87,500), manufacturing (68,900), BFSI (59,700) and healthcare (98,300), the survey said.
Revenue rises 20.7% to Rs 36,854 crore.
'IIM Ahmedabad has seen one of the best placement seasons ever and this change can be attributed to the markets opening up after the pandemic.'
'Investors should plan and make investments strictly on the basis of their risk profile.' 'They should not bite more than they can chew.'
Panaya drags Q1 profits though revenue improves on the back of large deal wins, good traction in North America.
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
A seasonally-strong quarter, with no immediate impact of the second wave and continued acceleration of digital transformation will allow the IT services sector to report a robust Q1 this financial year. However, key metrics to look out for will be attrition rate and margin lever as they will be impacted by salary hikes. Analysts expect growth for the quarter to be broad-based, with sectors like banking, financial services and insurance (BFSI), retail, manufacturing, hi-tech and life sciences driving revenue growth. Analysts across brokerage houses are pegging revenue growth in the range of 1.5 per cent to 4.5 per cent.
The adverse impact on the margins of auto, consumer staples and consumer durables sectors will be counterbalanced by an earnings uptick in the metals, cement and oil & gas sectors.
Non-IT sectors like industrial products, construction dominated the hiring trends.
While the banking sector may be in the doldrums, impacting various other industries, there are still some sectors that are on an upward trend.
'Sectors related to foreign trade, exchange, import and travel are experiencing a slowdown, which is now reflecting in their talent demand too.'
India's IT and business services market is expected to grow 5.4 per cent annually to reach $13 billion by December this year, research firm IDC said. The segment grew 5.3 per cent year-on-year (y-o-y) in January-June (H1) 2020 period as compared to 8.9 per cent growth in H1 2019, IDC said in a report. Of the IT and business services market, the IT services market contributed 77.4 per cent in H1 2020, growing 5.9 per cent y-o-y as compared to 9.3 per cent growth in the year-ago period.
'There will be partnerships between banks and fintech firms, but there will also be areas where they will be direct competitors.'
The highest compensation package for the Global MBA class at the S P Jain School of Management stood at Rs 43.9 lakh while that for the MGB programme was Rs 35 lakh.
For Paris-headquartered IT services major Capgemini, India has always been the backbone of its services delivery for its global clients, but the company is focused on driving more value from India as it gears up its engineering research and development (R&D) presence worldwide with its acquisition of Altran Technologies. The company, which has about 149,000 employees in India, is looking to hire 60,000 associates this year. Of them, 30,000 will be recruits from campuses and the rest lateral entrants. For Ashwin Yardi, chief executive officer India, Capgemini, the focus is to make sure that the India unit is aligned with the global plans of repositioning the company as a hub of engineering R&D, operational technology, and IT.
'There's a lot of continuity in terms of basic values and there's also a lot of new thinking based on the generational shift... it's a combination of continuity and change,' says Wipro Chief Executive Officer Abidali Neemuchwala.
Seven students were made international offers.
Demand for digital technologies and resumption of normal economic activities will drive sales for IT companies, and the sector will post a revenue growth of up to 9 per cent in 2021-22, a report said on Thursday. Rating agency Icra gave a "stable" outlook for the sector, whose size is pegged at over $180 billion by industry lobby Nasscom, including the business process outsourcing business. The IT services sector's revenues will rise between 7-9 per cent in rupee terms and between 5-8 per cent in dollar terms in 2021-22, it estimated.
With the economy gaining pace and large deals back on the table, chief executive officers (CEOs) of tech companies believe global tech spending will witness growth this year. According to CEO Survey by Nasscom, about 71 per cent chief executives expect global spend to grow over 4 per cent. The figure is significantly higher than the previous two years - 41 per cent and 59 per cent in 2019 and 2020, respectively. The survey also said the recovery in global tech spending will be led by the digital segment.
The highest salary rose by 14.22 per cent from last year.
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
Wipro is trying to strengthen its presence in the banking, financial services and insurance segment by increasing its revenue share on par with other leading Indian information technology service companies.
Marquee recruiters made premium offers, with consulting leading the pack by making 25.04% of the offers, followed by IT/ITeS (18.59%), e-commerce (10.55%) and BFSI (10.13%).
Sensex rally was driven by Bajaj FinServ, Reliance Industries, Bajaj Finance, ICICI Bank, HDFC and Axis Bank. NSE Nifty climbed 326.50 points to end at 15,245.60.
From acquiring creative agencies, to setting up onsite innovation centres and turning around BFSI with entirely new digital offerings, 2018 had seen the IT industry going from initial lows to new highs.
'One of the strategies is to pick deals carefully. That means looking at sectors like energy, banking, insurance and also doing outsourcing.'
Blackstone on Monday said funds managed by the private equity firm will acquire a majority stake in IT firm Mphasis Ltd, triggering an open offer for acquisition of up to 26 per cent stake for about Rs 8,262 crore. A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments (Office of the Chief Investment Officer of The Regents, University of California) and others will co-invest along with Blackstone, a statement said. Based on the open offer subscription, the blended purchase price will vary between Rs 1,452 to Rs 1,497 per share (12-16 per cent premium to 12-month average price and 3-6 per cent discount to 6-month average price) and the purchase consideration will vary between Rs 15,200 crore to Rs 21,000 crore (approximately$2-2.8 billion), the statement said.
Stock crashes 6.5%; top 5 firms lose Rs 33,883 crore in market cap
'At this moment, investors should look for relative value within sectors and clear visibility (third-wave-or-not) on earnings delivery.'
Indian workforce prefers to work for companies operating in sectors like IT, followed by BFSI and retail & FMCG.
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