20 Indian companies, including Infosys, Wipro, TCS, made it to the top 100 global outsourcing companies.
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.
Will Infy spring a surprise in subdued second quarter?
At times of slow growth, India has seen number of graduates doubling since 2008 to almost 25 million in 2016
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
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.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
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.
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.
India and China together account for 32 of the 50 companies in Forbes' sixth annual 'Asia's Fabulous 50 listed companies'.
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.
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
To get the best talent, they put stiff riders for recruitment.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
There are no major announcements in the Union Budget 2014-15.
Infosys, Wipro, Satyam and HCL Technologies form the top five software and service exporters.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
The company is looking at building the 'bench' of employees in reserve, to be prepared for emerging demands, beside keeping staff attrition in control. Maintaining decent bench strength would help in implementing new projects.
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tata Consultancy Services (TCS), Infosys Technologies and Wipro were eliminated from the selection process for the project on technical grounds. Another IT major, HCL Technologies, was also rejected. The size of the project is not yet known.
There is no denying the fact that thanks to its treasure-trove of skilled manpower and high growth of software export, India has gradually developed to be an IT powerhouse.
Indian IT firms have piled up net cash in excess of Rs 20,000 crore
Siphoning off food and fuel meant for the poor has made India's public distribution system ineffective.
Sixteen major contracts worth nearly $14 billion to be renewed by June 2018 but uncertainty looms large.
Scores of leading SEZ promoters, including Infosys Technologies, CMC Ltd, Hindalco Industries, NIIT Technologies, HCL Technologies, Orient Craft Infrastructure, L&T Phoenix Infoparks and K Raheja Corp, have sought more time from the Board of Approval, which is meeting in New Delhi on June 2.
NTPC was the biggest loser in the Sensex pack, tumbling 2.25 per cent, followed by Tata Motors, Bharti Airtel, PowerGrid, HDFC, Reliance Industries, Hero MotoCorp and M&M that shed up to 1.85 per cent.
Indian IT majors may have tightened their belts in various areas to contain costs as a fallout of the global economic slowdown. But most of them see continuing value when it comes to employee training, even though it skims crores (tens of millions) of rupees off their top-lines.
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.
For an annual dividend income of Rs 10 lakh or more, the investor will pay a DDT of 10 per cent
'During the pandemic, thousands of IT employees have lost their jobs.' 'Many of those who still have their jobs fear that they will lost it any moment.'
The $4.6-billion company, which had earlier made an unsuccessful bid to acquire SAP consulting firm Axon that was latter acquired by HCL, would prefer acquiring companies overseas where growing organically is a little challenge, the Bangalore-headquartered company's CEO and MD S (Kris) Gopalakrishna said.
Though domestic IT majors like Infosys Technologies, Tata Consultancy Services and HCL Technologies painted a gloomy picture of the IT sector in the coming quarters, technology bellwether Cognizant Technology Solutions and Genpact, India's largest Business Process Outsourcing firm, not only posted better results but have also given decent guidance to the markets.
The increases are expected to be in the 8 to 12 per cent range, which do not compare too badly with the 13 to 15 per cent increments of pre-slowdown years such as 2007-08.
Their fears were not unfounded, since the average salary increases of information technology professionals was down to 1.4 per cent for 2009.
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