Infosys, India's second largest information technology (IT) services company, is likely to book an impact of less than $1 million (Rs 6 crore) due to the financial irregularities in the accounts of its business process outsourcing (BPO) arm, which led to the dismissal of the unit's chief financial officer, Abraham Mathews earlier this week.
N Chandrasekaran, managing director and chief executive officer of Tata Consultancy Services, has consistently said he wishes to take the company beyond mature economies such as America and Europe, into emerging markets.
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
IGATE's shares closed on Nasdaq on Friday at $45.85.
The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
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.
After disappointing guidances in the first quarter (Apr-Jun) of the 2023-24 financial year (Q1FY24) and valuation downgrades, the Indian IT sector could see some positive repricing as the bad news for IT maybe easing in Q2FY24. A key negative factor was weaker demand from the US financial sector and from North America in general. The latest GDP (gross domestic product) estimates and sector-specific news suggest that the demand situation may not be quite so bad with a gradual recovery in tech spending in Q2.
'If (by the end of the deal) the talent that owns the customer relationships is not there, will L&T still get the value it is looking for?'
India may soon lose its slot as the world's largest talent supplier to China.
The prime minister said the country would give befitting response to every terrorist.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
The tribal vote in Madhya Pradesh is crucial in any election. The BJP's loss in the 2018 assembly election has prompted it to take remedial action.
'Investors are now getting clarity on policies.'
Prime Minister Narendra Modi has high hopes from the VibrantGujarat Summit.
With rapid adoption of emerging technologies, the Information Technology and Business Process Management (IT-BPM) industry is expected to generate about 3 lakh jobs this fiscal year, according to a report. The IT-BPM workforce is on the trajectory to grow 7 per cent in FY23, with the overall headcount increasing from 5.1 million to 5.45 million (close to 3 lakh jobs being created), the report by TeamLease Digital, the specialised staffing division of TeamLease Services said. The 'Digital Employment Outlook Report for H1-2023' highlighted that the demand for digital skills will grow 8.4 per cent by the end of this fiscal year.
In the last couple of months, the IT and BPO space has seen a big uptick in M&A activities, with companies merging with other entities to become bigger players.
Banking and IT lead; see September hiring rise 52%, 34% y-o-y, respectively.
Digitisation and automation key challenges to business model
Abuse, often racial in nature, happens daily.
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India's export-oriented information technology outsourcing industry is perhaps more optimistic today about growth prospects than it was in the past five years.
Delays in promised service delivery were earlier settled between client and service provider. More organisations now opt for a legal settlement to save cost and protect investor sentiment, say analysts.
Of the 3.9 million the sector employs, HR experts say at least 100,000 are likely to lose their jobs by the end of this financial year. Ayan Pramanik and Raghu Krishnan report.
My interest is to work with young entrepreneurs to build businesses and see if I can add value to the boards of other global companies.
Further, the rate of growth improved in all, between June and July 2014.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
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.
In its report 'Global Top Picks', Barclays expects the current bull market in global equities to continue, generating a total return of 9 per cent in 2015.
Vishal Sikka talks about his chemistry with N R Narayana Murthy and about his plans to strengthen the leadership team.
Technology market research firm Tech Market View said the contract, which is one of Wipro's largest deals group-wide, signals the growing influence of offshore-centric IT-BPO players in large scale UK outsourcing market.
With globalisation, the demand of third party logistics business, a western concept, is catching up in the country as Indian firms 'which are eager to expand in new markets' are turning towards it for better management of their supply chain processes, the chamber said. 3PL cuts conventional logistics costs and helps tackle more complicated tasks, he said. Currently, the size of the business is estimated at $58 million.
Reliance Retail has entered the Indian fast-moving consumer goods space as it takes its private label brands, sold at its supermarkets and hypermarkets, Reliance Fresh and Reliance Smart, to general trade. The company had internally set a target of Rs 50,000 crore turnover from the FMCG business, which will fall under Reliance Retail's consumer brand division. Business Standard accessed a presentation which includes the brands it has taken to the general trade.
Abid ali Neemuchwala's ambitious plans for Wipro.
As the pandemic pushed employers to explore and adapt new ways to stay in the business, a survey has revealed that 6 out of 10 organisations have adopted 'work from home' policy post Covid-19 relaxations. Over 65 per cent of the employers have either introduced 'work from home' as a policy or are evaluating the same reflecting a maturity and the confidence in their employees, according to a survey by Grant Thornton Bharat. The survey was conducted online by Grant Thornton Bharat among 4,650 respondents across social media platforms.
At $12-bn valuation, this will be India's largest FDI; deal to be announced on Saturday, says Dev Chatterjee.
Sikka reinforces focus on automation & artificial intelligence
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