India's largest firm Reliance Industries has initiated work-from-home for its staff while keeping open consumer-facing businesses of hospital, retail stores and telecom with a minimum workforce amid increasing number of Covid-19 cases in the country. Chairman and Managing Director Mukesh Ambani will hold a meeting almost every third day to take stock of the impact of novel coronavirus (covid-19) outbreak on his employees and business, officials said.
The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, chief executive officer and managing director Rajesh Gopinathan said.
'The spurt in demand for Ayurvedic products has exhausted our production capacity.'
India's top IT companies have shown a hiatus between their performance on the bourses in the pandemic period and earnings growth. The combined market cap of the top five IT companies - Tata Consultancy Services, Infosys, Wipro, HCL Technologies, and Tech Mahindra - is up 87 per cent since the end of March 2020. In comparison, the benchmark BSE Sensex is up 68 per cent during the period. So the industry beat the broader market by a big margin in the last one year.
Last year, it was not just the economy that slowed hiring. Employers were also unable to complete the verification process because of the lockdowns, resulting in delays in hiring and an increase in discrepancies between an employee's professed abilities and the reality. The experience is driving many companies to automation. In a recent EY survey, 56 per cent of the companies said they'd automated their processes, while 72 per cent felt technology could be leveraged to digitise employee records.
TCS registered revenues at Rs 30,541 crore in the second quarter of 2017-18, up 4.3 per cent from Rs 29,284 crore in the year-ago period.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
Twitter said it will continue to be strictly guided by principles of transparency, a commitment to empowering every voice on the service, and protecting freedom of expression and privacy under the rule of law.
2019, however, will be a bigger test as the firm continues to deal with rising attrition and margin pressure.
The studio, covering 20,000 ft with capacity for 250 employees, has a wellness zone, a usability lab and a range of creative spaces.
Even though North America still accounts for 60 per cent of Infosys's revenue, the company is starting to see good growth in Europe, which contributes around 25 per cent to the company's top line. Even Australia also has emerged to be a strategically important market, with a contribution of 10 per cent to the overall revenues.
Mid-sized IT firms have stepped up hiring in the current fiscal year, adding more than half as many employees in the first quarter of FY19 as compared to the whole of the previous financial year. This momentum is likely to continue for the rest of 2018-19 (FY19) as well.
The Delhi high court on Tuesday closed proceedings in a petition alleging non-compliance of new IT Rules by Twitter, saying that 'nothing remained' in view of the central government being satisfied with the micro-blogging platform appointing a chief compliance officer (CCO), resident grievance officer (RGO) and nodal contact person.
Part of landing your dream job involves knowing the ins and outs of that particular job.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
IT firms are training employees of their clients and even aspiring IT professionals, in order to create fresh revenue streams amid shrinking deal sizes in traditional software maintenance, says Ayan Pramanik.
The record in net addition from the top four was in 2016-17, of 59,427 employees.
Analysts are of the opinion that 55 may emerge as the new age to retire for techies in India
Design thinking refers to solving traditional tech problems using newer, different and innovative methods
The greatest strength of a leader is to be able to think about the 'big picture'.
Infosys will ring the closing bell at the New York Stock Exchange (NYSE) on Friday to commemorate its eighth anniversary of listing on the exchange. Infosys CEO Salil Parekh will ring the closing bell in a ceremony to celebrate the company's 2020 achievements, including its eight years of trading on the NYSE, rapid growth in the US, and its recently announced Environmental, Social and Governance (ESG) Vision for 2030, a regulatory filing said.
The EPFO is now developing a software that will help show retirement savings in cash and ETFs components separately. At present the account only shows the savings as gross cash component.
nternally, Wipro has been pushing for 'automation'. However, when it comes to profitability, the Bengaluru-based company has a long way to go. Wipro chief executive officer Abidali Neemuchwala says while the benefits are going mostly to clients, they would start reflecting in the company's bottom line.
It has also proposed that CEO and managing director Salil Parekh be granted annual performance-based stock incentives in the form of restricted stock units worth Rs 10 crore under the 2019 Plan.
Cab aggregator Ola is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 per cent in the last two months due to coronavirus pandemic, a note by CEO Bhavish Aggarwal said. In an email to employees, Aggarwal made it clear that the prognosis ahead for the business is "very unclear and uncertain" and the impact of this crisis is "definitely going to be long-drawn for us".
Dr Reddy's Laboratories Ltd expects the locally manufactured Russia's COVID-19 vaccine Sputnik V to be available from September-October period, a senior official of the city-based drug maker said.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Utilise this time to gain hands-on experience on newer skills or refine current ones.
Experts at coding, Web development, and digital marketing, will be on every organisation's hiring list, points out Narayan Mahadevan.
The country's largest bank, which has about 25 per cent market share, has also decided to do away with the charges on fund transfer through mobile phones using the IMPS from August 1.
When the Delhi police served him a notice in May for a case involving tagging some political leaders' tweets as carrying manipulated media, a spirited Maheshwari said he was employed by Twitter Communications Private Limited, and not Twitter Inc, and, therefore, could not help them. The authorities were understandably not pleased.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions is mandatory for companies with turnover of over Rs 500 crore from October 1. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said e-invoicing will be extended to businesses with a turnover over Rs 100 crore from January 1.
The 27-page code was approved at the last meeting of the PCB's Board of Governors and aims to cover every individual working with the Board and the Pakistan Super League (PSL).
Wipro said it has used its industry-leading cybersecurity practices and partner ecosystem for remedial steps and has shared this intelligence with its partners to develop the AntiVirus signatures.
The company is also planning to create an Indian subsidiary to enhance communications and services with players for which it will hire over 100 employees specialising in business, e-sports, and game development.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
All Chinese nationals on the board of digital payments firm Paytm have been replaced by US and Indian citizens, while there is no change in existing shareholding, according to a regulatory filing of the company. Alipay representative Jing Xiandong, Ant Financial's Guoming Cheng, and Alibaba representatives Michael Yuen Jen Yao (US citizen) and Ting Hong Kenny Ho have ceased to be directors of the company, as per the regulatory document. According to a source, Paytm now has no Chinese national on its board.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
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.
