As many as 11 people, including members from the influential Nilekani, Bajaj and Godrej families, were honoured for their outstanding contribution towards the good of the society at Forbes India Philanthropy Awards.
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.
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.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
'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.'
The local markets are expected to react to global triggers until the government announces the Union Budget.
"We will fight to protect every last American life," Trump
Infosys has been focusing on winning more lucrative digital technology and automation outsourcing contracts.
Other developers that have sought additional time include Alstom Bharat Forge Power, Sesa Sterlite Ltd and Cognizant Technology Solutions. Vedanta Aluminium has asked for extension of the validity of the approval granted by the board for setting up an SEZ in Odisha beyond May 22.
Grover had said a summons was issued by the special court in Ghaziabad against Ayyub for January 27 and therefore the matter be listed urgently.
The Supreme Court on Tuesday agreed to hear the petition of journalist Rana Ayyub challenging the summons issued to her by a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad in a money laundering case lodged against her by the Enforcement Directorate (ED).
Cognizant India Executive Vice-Chairman R Chandrasekaran talks to Business Standard about the experience and the way forward.
In a letter to Birla, Karti Chidambaram also said that over the course of the past few years, his family and he himself have become targets of a 'relentless campaign by the present government and its investigating agencies which are trying to silence our voices of dissent by foisting one fake case after another'.
Takes a knock after RBS changes plan on Williams & Glyn; contract loss to impact 3,000 Infy staffers
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.
Calling a "matter of serious concern" the registration of FIRs under Section 66A of the Information Technology Act it had scrapped in 2015, The Supreme Court on Tuesday asked the chief secretaries of states concerned to take back the cases within three weeks.
Analysts are of the opinion that 55 may emerge as the new age to retire for techies in India
The reduction in hiring indicates a shift in the business model from hiring thousands of people to write code cheap to using artificial intelligence for repeatable tasks.
Google is the most attracitve employer in India followed by Sony
It's no surprise to find Apple and Google at the top of our list, but smaller outfits saw some of the biggest growth.
Employee costs for Indian IT services players have touched an all-time high as salaries soar in their effort to retain talent. Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 12-13 per cent. High potential employees will get increases of 22-23 per cent.
He urged the force to "ensure proactive pre-emptive measures to ensure safety and security at all levels" in view of the forthcoming G-20 Summit.
The committee will submit its report in two months and its chairperson can invite any expert of any institution in the country to help in the probe into the April 10 tragedy, a notification by Jharkhand tourism department said.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
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 government on Wednesday informed Parliament that there is no proposal with the Information Technology ministry to set up a regulator for social media.
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.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
Four Tech Mahindra employees approached the labour commission in Karnataka
Fresher hiring sentiment is highest in India, with 17 per cent employers keen on recruiting fresh graduates in the July to December 2021 period against 6 per cent globally. According to the Career Outlook Report by TeamLease EdTech, conducted across 18 sectors and 14 cities, the hiring sentiment in the country has registered a 2 percentage point increase over the February-April 2021 period. In terms of sectors, those that have been able to withstand the impact of the pandemic and witnessed a stronger hiring sentiment are information technology (31 per cent), telecommunication (25 per cent) and technology start-ups (25 per cent).
The Supreme Court on Tuesday dismissed journalist Rana Ayyub's plea challenging summons by the Ghaziabad special court in a money laundering case, leaving it open for her to raise the issues before the trial court.
Ex-Infosys CFO V Balakrishnan said the IT companies 'have to get employees who understand new technologies, they have to get rid of some of the employees, who are more on the legacy, and try to attract talent which is more digital'.
Infosys, Facebook, Genpact, and Cognizant, among others, have reached out to employees and offered support in different ways as the second wave of Covid cases sees an exponential rise. Companies are asking employees to stay indoors and prioritise the health and safety of their families. This is of significance as several information technology firms were going to take a call on work-from-home from June and had plans to allow some employees to come back to work.
'The industry growth in 2016< came from the new digital technology segment which grew at over 20%.' 'The challenge for the industry is that the legacy business makes up almost 80% of revenue.' 'Hence the urgency to transform into digital business.'
The year saw 30 QIP deals raising over $5 billion and 35 IPOs.
Infosys, Wipro may follow suit as investors eye a piece of the large cash kitty as growth slows.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
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 IT services giant is also slated to hold a board meeting on April 13 and 14, to approve of and take on record the consolidated financial results of the company for the quarter and year ended March 31, 2021. Indian IT majors will be announcing their fourth quarter (Q4) and 2020-21 results starting April 12. At the end of the Q3 FY21 Infosys had cash and investment of $4.5 billion.
