Companies say they have ensured that services to clients remain unaffected.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
Pricing pressure in traditional technology services and slow growth in emerging technologies may turn out to be the spoiler for Indian infotech companies, says Ayan Pramanik.
Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
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.
On the macroeconomic data front, PMI data on manufacturing and services sector will also influence trading
Best performers get gifts such as foreign holidays, high-end cars and mobile devices
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
Professional services firm Ernst & Young bagged the contract from UIDAI to become consulting partner for the project.
RIL was the biggest gainer in the Sensex pack, rising 2.63 per cent, followed by NTPC, Axis Bank, Tata Steel, PowerGrid, HDFC twins, Bharti Airtel, M&M, ICICI Bank, SBI and Bajaj Finance -- gaining up to 2.51 per cent.
Investors are already factoring in the impact. The IT Index on the BSE exchange dipped 2.5 per cent, with Infosys, Wipro and TCS showing a decline.
First sequential decline in a decade as 8 of top 15 software firms report drop in manpower
Analysts factor in 200-300-bps impact on sales in FY16
'The key is to keep the growth sustainable over a period of time.'
Sectorally, BSE metal, basic materials, energy, realty, power, oil and gas, finance, FMCG, bankex and telecom indices fell up to 1.71 per cent.
'If the business doesn't recover in next 6-10 months, there might be situation where there would be some lay-offs...That may be required for survival and to ensure livelihood to millions of people.'
Investors will look at how TCS has performed when it announces the quarter's results on October 13, and the forecast from Infosys on October 14
Both companies, along with three others, were suspended in 2010 on grounds of irregularities.
20 Indian companies, including Infosys, Wipro, TCS, made it to the top 100 global outsourcing companies.
Top gainers in the Sensex pack included Hero MotoCorp, Maruti, M&M, Bajaj Auto, HUL, HCL Tech, Bajaj Finance, ITC, HDFC and L&T, rising up to 7.51 per cent.
Despite wage hikes, an appreciating rupee, and fewer working days nibbling at their profit margins during the quarter ended December 31, 2007, the five IT majors Tata Consultancy Services (TCS), Infosys Technologies, Wipro, Satyam Computer Services and HCL Technologies posted revenue and net profit figures that were in line with market expectations.
Engineering graduates specialising in artificial intelligence and machine learning can earn up to 24 lakh a year, says Saran Balasundaram, founder and CEO, HanDigital, a talent consulting firm.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
Will Infy spring a surprise in subdued second quarter?
Faced with budget constraints and margin pressures, Indian IT services providers such as Tata Consultancy Services, Infosys, Wipro and HCL are moving more work offshore (to India) rather than onsite (at the client's site) in a bid to contain costs.
Information technology firms appear to have lost their appeal at the Indian Institutes of Technology. Campus recruitment figures by major Indian and foreign IT firms have dipped this year, raising further concerns of an industry slowdown.
Indian IT firms have started mining smaller clients with more fervour given that the revenue accruring from their top clients has been declining due to the US slowdown and the sub-prime crisis. Consider this. Revenue accruing from the top clients of the five leading IT firms by revenue - Tata Consultancy Services, Infosys Technologies, Wipro Technologies, Satyam Computer Services and HCL Technologies - dropped by anywhere between 0.2 per cent and 4 per cent
At times of slow growth, India has seen number of graduates doubling since 2008 to almost 25 million in 2016
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
The combined profit before tax of 748 companies, which have declared their results for Q1FY21, is down 46 per cent YoY. Their net sales went down by a quarter as the Covid-19 lockdown led to a sharp fall in economic activity.
India and China together account for 32 of the 50 companies in Forbes' sixth annual 'Asia's Fabulous 50 listed companies'.
With Democrats having an upper hand in US Congress, the Donald Trump administration will find it difficult to come up with any future legislative changes with regard to visa regulations.
NTPC was the top gainer among the Sensex stocks, rising by 3.53 per cent. Coal India, ONGC and Sun Pharma also rose up to 2.41 per cent.
To get the best talent, they put stiff riders for recruitment.
Infosys, Wipro, Satyam and HCL Technologies form the top five software and service exporters.
Nasscom and the Chinese government have given the task of creating a matchmaking platform to Zeta-V, set up in June 2017 in Shanghai by Sujit Chatterjee, former CEO of TCS China, and Rangarajan Vellamore, former CEO of Infosys China.
Sectorally, bankex suffered the most by dropping 2.62 per cent, followed by finance 2.44 per cent and realty 1.63 per cent. On the other hand, telecom was among the top sectoral gainers, rising 4.60 per cent. IT index rose 2.62 per cent.
There are no major announcements in the Union Budget 2014-15.
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