Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
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.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Indian IT firms have piled up net cash in excess of Rs 20,000 crore
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.
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.
Siphoning off food and fuel meant for the poor has made India's public distribution system ineffective.
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.
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.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sixteen major contracts worth nearly $14 billion to be renewed by June 2018 but uncertainty looms large.
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.
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.
For an annual dividend income of Rs 10 lakh or more, the investor will pay a DDT of 10 per cent
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.
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.
Their fears were not unfounded, since the average salary increases of information technology professionals was down to 1.4 per cent for 2009.
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.
Tata Consultancy Services (TCS), HCL Technologies and HDFC Bank are among the 50 best public companies in Asia-Pacific according to a compilation by Forbes, which ranked India second behind China as home to the "world's next growth engines".
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The issue arose after TCS dismissed hundreds of employees in January 2015, leading to the formation of the IT Employees Wing supported by the NDLF.
The offer is applicable from September 25 to October 31 and qualifies new post-paid customers across all Tata Docomo brand stores to win iPhone 5S, Samsung and HCL tablets, data packages, powerbanks, discount coupons from Jabong, among others.
In dollar terms, its m-cap rose to $76 billion
Several companies have hit on the idea of offering college freshers pre-job training to make them more employable.
TCS is expected to report a 5 per cent QoQ (USD) growth in revenues, highest in our coverage, while Wipro's IT Services revenue growth could be closer to 1.1 per cent QoQ (USD terms)."
The pace of job generation has slowed as IT firms look at automation to do testing
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
The Bangalore-headquartered company is believed to be evaluating two-three companies, which are in the revenue bracket of $100-200 million to eliminate some gaps that exist in its services offerings and increase focus on certain verticals, which have been least affected in the midst of the economic slowdown. It's reliably learnt that the company is looking at healthcare and energy and utilities as the two major areas for possible acquisitions.
Fresh suitors have emerged, and a cleanup is proceeding under a board appointed by the government. But the fraud leaves a cloud over Indian outsourcing.
Indian companies, led by the Tata group, Essar and HCL Technologies, among others, have created more than 30,000 jobs and made large investments in the United States, a joint report of the Federation of Indian Chambers of Commerce and Industry and the US India Business Council said.
Software services industry may have to relook its cost structure to maintain a higher margin.
'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.'
They also siphon money through 'work@home' schemes.
Amid Trump's expected action against employment visas, India's bellwether IT firms reveal they have been preparing for this eventuality for years.
The strategy of returning cash to shareholders through stock purchases could hinder their digital expansion plans
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