Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
It has taken a pandemic to move the needle on the salary packages for greenhorn engineers hired by the Indian IT services sector. The country's third-largest IT services player, HCL Technologies, has decided to boost the entry-level packages from Rs 3-3.6 lakh to Rs 4.25 lakh for FY23, in a bid to attract fresh talent and keep them for longer to counter the impact of rising attrition. This new package would also be applicable to those freshers who joined the firm in FY22.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
While industry leaders Tata Consultancy Services and Wipro have announced deferring wage-hike plans, other players such as Infosys and HCL Technologies are expected to follow suit, according to industry insiders.
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.
There's no place like home, but even for the affluent buying one in India is difficult. On top of that, the coronavirus pandemic-now in its eighteenth month-has made life uncertain. A hopeful thing is buying a house looks alluring as loan interest rates fall below 7 per cent, their multi-decadal lows. The slow decline in GDP growth after demonetisation, followed by the economic shock caused by Covid-19 waves, has hurt us unevenly.
Infosys, TCS, Wipro, Cognizant and Satyam and Bharti Tele-Ventures figure in the elite list.
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.
Sikka's regret over lack of strategic talk with clients hints at larger problem
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
The sector will see a minimum of 3-5 per cent of the weight being shed in almost every IT company - particularly the big 20 - because of Covid and not performance-related issues.
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
Tata Consultancy Services topped the list of top 10 best performing IT service providers worldwide rated by Global Services, a specialised publication for IT businesses.
Companies are looking to combine risk management with strategy.
Both companies, along with three others, were suspended in 2010 on grounds of irregularities.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
The Confederation of All India Traders has approached Union Home Minister Amit Shah, Union Health Minister Harsh Vardhan, Delhi Lieutenant Governor Anil Baijal, and Chief Minister Arvind Kejriwal, and urged them to shut markets in Delhi.
Sipika Singh switched careers from being a senior consultant with Ernst and Young to a regional marketing role in the pharma major, Novartis in Singapore.
Elliott Capital's letter to Cognizant, detailing how the latter can reinvent itself, has many lessons for its India-listed peers like TCS and Infosys, says Akash Prakash.
Where do Indian IT firms stand compared to their global peers in this journey of transformation? Ayan Pramanik seeks answers from IT services analyst Phil Fersht.
Ford said it had also shut its plant, with an annual capacity of 340,000 engines and 200,000 vehicles.
Among IT services firm, Cognizant witnessed over 60 per cent of its initial applications rejected, followed by Capgemini, Accenture, Wipro, and Infosys. In 2018, the top six Indian firms got just 16 per cent or 2,145 H1B work permits.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
The unprecedented rainfall in Chennai during the first week of December and the resultant flooding had impacted the business operations of companies operating in Chennai
The initiative, whose founding partners also include Accenture, CA Technologies, Cisco, Cognizant, Hewlett Packard Enterprise, Pegasystems, PwC, Salesforce and SAP, aims to bring competitive training content together on one platform to serve the greater good.
The appraisals being done by most companies this year are harsher than past ones with higher threshold in many metrics. Reduction in headcount has been done across most tier-I and tier-II IT firms along with global technology firms in the country.
Considering the June quarter numbers have been softer, as compared to the past quarters, and the overall macro environment is yet again under a cloud, Indian IT services should seriously look at the new normal
'The Biden administration will not send any diplomatic or official representation to the Beijing 2022 Winter Olympics and Paralympic Games given the PRC's ongoing genocide and crimes against humanity in Xinjiang and other human rights abuses.'
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
Irrespective of demonetisation and GST blues, IIM Lucknow has been able to successfully place their batch of 459 students.
5,565 contracts, valued at $201 billion are up for rebids across geographies and verticals by 2018.
Cognizant jumps 13 ranks to become 4th most valued.
Right now Infosys is somewhat on the up.
W12 Studios will be part of TCS Interactive, further strengthening the already impressive array of creative and experience services it offers
While TCS, Infosys and Cognizant have hinted at a weak quarter, analysts say the slowdown is cyclical and growth will return after the US elections
TCS moved into new markets like France, Japan thanks to acquisitions.
