There is a surge in number exploring a change at middle and senior levels; recruitment agencies cite restiveness on pay, work patterns.
The second campus would have the potential to create around 18,000 jobs
IT and interest rate-sensitive bank, realty, and auto stocks ended with sharp gains.
Indirect emissions account for a major chunk of emissions by Indian IT firms. Business travel and commutation, together, are a key reason for it. If travel and daily commuting go down, so does carbon emissions.
Benchmark Sensex rebounded by 167 points in a volatile trade on Friday amid buying in ICICI Bank, State Bank of India and Reliance Industries. The 30-share BSE Sensex climbed 167.06 points or 0.23 per cent to settle at 71,595.49. During the day, it hit a high of 71,676.49 and a low of 71,200.31.
Information technology majors Infosys, Wipro and HCL have posted strong results, but analysts are still skeptical on whether the domestic IT industry will be able to sail through the US slowdown, maintaining its profitability and margins. The results of the three firms were in line with market expectations. Analysts believe that the company was able to post a positive result mainly because it has been successful in moving its incremental business out of the US to Europe.
Wipro said recently it was expecting its revenue growth to drop 2.33 per cent or stay flat between $2,015 and $2065 million.
Two days after the West Bengal government scrapped the ambitious IT project at Rajarhat, the Congress on Wednesday said IT majors like Wipro and Infosys should be given alternate land elsewhere in the state.
Infosys has drawn up a vision to position itself as a next generation services company.
Shares of Tata Consultancy Services (TCS) jumped 4 per cent on Tuesday, taking its market valuation to above Rs 15 lakh crore mark. The stock of the country's second most valued firm by market valuation jumped 4.05 per cent to settle at Rs 4,133.45 apiece on the BSE. During the day, shares of the company climbed 4.45 per cent to Rs 4,149.75 -- its all-time high.
It's advantage for Indian companies like Infosys, Wipro and Tata Consultancy Services on the country's information technology services arena over their global peers including the giants like IBM and Accenture
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.
US Senate's rejection of a bailout package for auto firms to impact revenues. None of the IT firms give any break-up of the exposure to the auto industry, but analysts said TCS offers services to clients such as Chrysler, Ferrari and Nissan.
The booming real estate markets in the National Capital Region, Mumbai and Bangalore registered the highest global yields in 2003, according to the latest updates by Chesterton Meghraj, a global real estate consulting group.
Selling in index heavyweights, including Infosys, TCS, ICICI Bank and Reliance Industries, dragged the benchmark indices into the negative for the second straight session, analysts said. Among the Sensex shares, Asian Paints fell the most by 3.9 per cent as analysts expressed concerns over rising competition in the domestic paints market following the entry of Aditya Birla group company Grasim Industries into the paints segment. IT shares Infosys, TCS, HCL Tech, Wipro and Tech Mahindra continued to slide amid inflation concerns in the US market.
Infosys Technologies' fourth-quarter results have been poorly received. The bellwether stock has taken a severe beating, bringing the markets down with it.
The six IT majors -- TCS, Infosys, Wipro, Satyam, HCL Technologies and Congizant -- along with two BPO giants Genpact and WNS are recording a yearly growth rate of over 40 per cent, according to technology consultancy firm Everest Group. Apart from these big names, all the other smaller players are struggling at a growth rate of around 20 per cent a year, Everest Group CEO Peter Bendor-Samuel told PTI.
It has taken a pandemic to move the needle on the salary packages for greenhorn engineers hired by the Indian IT services sector. The country's third-largest IT services player, HCL Technologies, has decided to boost the entry-level packages from Rs 3-3.6 lakh to Rs 4.25 lakh for FY23, in a bid to attract fresh talent and keep them for longer to counter the impact of rising attrition. This new package would also be applicable to those freshers who joined the firm in FY22.
From inking deals to hiring top workers, Big Blue is beating its tech services rivals
However, the company says it will suspended promotions and salary increments this year.
Analysts said the transition period at Infosys and Wipro have given an opportunity to TCS and Cognizant to increase their lead.
The landscape of the Indian software and services sector displays both stability and dynamism. While the top five companies - TCS, Infosys, Wipro, Satyam and HCL - have held on to their positions in the Nasscom list, others have gained or fallen back
Nations have to compete just like corporations, he says highlighting the need to brand and promote quality products and services.
According to Republican Senator Charles Grassley and Democratic Senator Richard Durbin, more companies are now using H-1B visas to displace qualified American workers.
Among the Sensex firms, HCL Tech, Wipro, Tata Consultancy Services, Tech Mahindra, Nestle, Tata Motors, Infosys, Bharti Airtel, UltraTech Cement and Tata Steel were among the laggards. On the other hand, Axis Bank, HDFC Bank, ICICI Bank, JSW Steel, Mahindra & Mahindra and Kotak Mahindra Bank were the major gainers.
This year's winners, which include Toyota, Lenovo, and Infosys, have been pushing to build their businesses globally.
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Both firms have broken TCS' streak of industry-leading performance over the past few quarters by posting higher revenue and earnings growth this quarter.
On the back of growing clout of the Indian IT sector, domestic giants Tata Consultancy Services, Infosys and Wipro may soon join the league of top 10 most valued firms globally in terms of market capitalisation in the next 2-3 years.
In terms of percentage, Exlservice Holdings Inc has recorded the biggest loss of about 19 per cent, while Infosys, Satyam, Sify, Wipro, Rediff, WNS, HDFC bank, VSNL, Genpact, Dr Reddy's and Patni also saw their market values dipping. All the major IT scrips saw a fall of more than seven per cent, led by Satyam Computer (over 10 per cent), while Wipro and Satyam lost about eight per cent and seven per cent respectively.
The company's net profit went up 27% in December quarter, sequentially better than peers; core IT services up 33%..
The survey takes into account factors such as financial reputation, vision, corporate reputation, quality and innovation.
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
IT, telecom market in Asia-Pacific region to grow 11% in 2003: IDC
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