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
Sixteen major contracts worth nearly $14 billion to be renewed by June 2018 but uncertainty looms large.
It's the second time Nasscom has projected single-digit growth in a decade.
The strategy of returning cash to shareholders through stock purchases could hinder their digital expansion plans
The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike, severance package to former employees and corporate governance standards.
The local markets are expected to react to global triggers until the government announces the Union Budget.
Infosys, Wipro may follow suit as investors eye a piece of the large cash kitty as growth slows.
The proposed annual quota for Indian companies could be between 10 and 15 per cent. Currently, there are no country-specific limits on H-1B allotment.
Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks
First acquisition under Sikka's plan of buying technologies for tomorrow
The information technology sector in West Bengal is likely to see addition of 20,000 jobs in 2008. The state currently has about 300 small to big sized companies and employs 55,000.
5,565 contracts, valued at $201 billion are up for rebids across geographies and verticals by 2018.
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
It is not that platforms and products are something that Infosys has not tried earlier.
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.
'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.'
Infosys, in April, had said that it will pay up to Rs 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.
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.
Pravin Rao says firms with revenue of $600-700 millon will be preferred.
The pace of job generation has slowed as IT firms look at automation to do testing
Stock crashes 6.5%; top 5 firms lose Rs 33,883 crore in market cap
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
Facebook enabled users to mark themselves safe in Chennai since Thursday morning
With Infosys reportedly increasing the pay packages of senior executives, including executive vice-presidents and a few vice-presidents, threefold, the Indian information technology (IT) services space might well get a new benchmark.
HCL Technologies and Infosys should benefit more than TCS and Wipro
Modest growth projections hits IT sector.
"We will fight to protect every last American life," Trump
After taking over scam-hit Satyam, Techn Mahindra has made many structural changes in the latter to turn it around.
While recruitment is falling, the capabilities needed to land an IT job are stiffening.
IT sector has lots of hope from the Union Budget 2014-15.
The companies experienced a drop of 5,436 approved petitions (37 per cent) in 2016 as compared to previous year, a report by the National Foundation for American Policy, a Washington-based non-profit think-tank, said.
The New Year, like 2014, will see brisk hiring. But, specialisation and strong domain skills will decide who gets hired.
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