Some major contracts coming up for renewal include TCS' deals with Star Alliance, a consortium of airlines based in Germany, and Nielsen; Infosys' deals with GE Appliances and Daimler; HCLTech's with UK-based life insurer Chesnara; Wipro's with German electric utility company E.ON and Petrobras of Brazil; and Tech Mahindra's with Circle Health.
'Keeping a bench increases cost. If you keep a bench, the skills may not remain relevant.' 'In the future, bench strength will literally be zero.'
The combined market valuation of the top-ten most valued firms jumped by a whopping Rs 3,84,004.73 crore in the holiday-shortened last week, in-tandem with a smart rally in equities, with HDFC Bank and Bharti Airtel emerging as the biggest gainers. Last week, the BSE benchmark Sensex jumped 3,395.94 points or 4.51 per cent, and the NSE Nifty surged 1,023.1 points or 4.48 per cent.
IT company Infosys on Thursday posted a 7.3 per cent decline in consolidated net profit at Rs 6,106 crore in the third quarter of the current financial year. The company had posted a net profit (attributable to shareholders) of Rs 6,586 crore during the same period a year ago, Infosys said in a regulatory filing. Consolidated revenue from operations of the company increased marginally by 1.3 per cent to Rs 38,821 crore during the quarter under review from Rs 38,318 crore in the year-ago period.
Novak Djokovic moved to the brink of his 100th tour-level title after recovering from a second-set blip to beat British qualifier Cameron Norrie 6-4, 6-7(6), 6-1 in the Geneva Open semi-finals on Friday.
Bengaluru-based Infosys has announced that 80 per cent of the variable pay will be distributed to eligible employees for the quarter ending June 30, according to media reports. This amount will be included with the August month's salary. In contrast, Infosys had paid out 60 per cent of the variable pay in the fourth quarter of financial year FY23.
Stock markets will be driven by further developments on the US-China tariff war front along with quarterly earnings announcements from IT majors Wipro and Infosys in a holiday-shortened week, analysts said. Global market trends and trading activity of foreign investors would also dictate market movement this week, experts noted.
'When I told Mr Narayan Murthy, he said it was great that I was following my dream.'
'Our phones are taken away as we enter the room.' 'They are just asking us to sign without any discussion. If you ask for a discussion, they say, 'Sign first'.'
Sector analysts in India feel that the new convention may not lead to a significant increase in the number of Indian employees being sent to the UK.
Cricket back in Olympics after 100 years because of India: Former UK PM Sunak
Artificial Intelligence-first business strategy adopted by Infosys is working well for the company despite unresolved ethical and IPR issues around the technology, Infosys chairman Nandan Nilekani said on Wednesday. In his address at Infosys' 42nd Annual General Meeting, Nilekani said the company can be more efficient while nurturing readiness for growth, given its performance in challenging scenarios created by inflation, interest rates, geopolitics, demand volatility and supply chain dislocations. "Several practical, ethical and intellectual property-related issues, when it comes to AI remain unresolved.
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
The time is up for the over three-decades-old business model with the advent of artificial intelligence, HCL Technologies' chief executive C Vijayakumar said on Monday. Speaking at industry lobby grouping Nasscom's annual NTLF event in Mumbai, Vijayakumar said companies need to be "paranoid", given the wide-ranging impact of AI and stressed that this attitude will help them to be relevant and grow. "I strongly believe that the business model is ripe for disruption.
Indian IT services company Infosys on Thursday said all its employees in Israel are safe. Amid escalating tensions in the Middle East, Infosys CEO and MD Salil Parekh said its employees in Israel are primarily locals but declined to comment on the exact staff strength there. The company further said it is "saddened" by the situation unfolding in the region.
Shares of Infosys hit a five-month low of Rs 1,419.60, down 1 per cent on the BSE in Tuesday's intra-day trade. The stock was quoting at its lowest level since October 10, 2022. In past two days, the stock of information technology (IT) bellwether was down 4 per cent after the company on Saturday informed to the stock exchanges that Mohit Joshi, president of the company has resigned effective March 11, 2023. Mohit Joshi will be on leave thereafter and his last date for the company would be June 9, 2023, Infosys said in an exchange filing.
United States, the largest market for the $282 billion Indian IT sector, is a "wild card" for the industry, lobby grouping Nasssom's president Rajesh Nambiar said on Monday. Speaking to reporters Nambiar said the tariff threats by the US may turn out to be the biggest headwind for the sector. "Broadly, if you were to look at the headwinds, the biggest unknown there would be the tariffs and the impact of what happens in the US market," Nambiar said.
Cognizant has said it aims to be back among India's top four IT services companies by 2027 by improving revenue, market share, bagging large deals, and gradual margin expansion. The Nasdaq-listed company does a major part of its business in India, but has trailed peers such as Tata Consultancy Services and Accenture over the last few years as growth tapered, margins squeezed, and attrition soared.
Indian-origin tech companies cornered a fifth of all H-1B visas issued by the US with Infosys and Tata Consultancy Services leading the pack, an analysis of data from the US immigration department showed. According to data from the US Citizenship and Immigration Services, in April-September 2024 period, out of the total 1.3 lakh H-1B visas issued to different employers, about 24,766 visas were issued to Indian-origin companies.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
From the Sensex firms, Adani Ports, Eternal, Bajaj Finance, Axis Bank, Bajaj Finserv, Reliance Industries, Power Grid and NTPC were the major gainers. Sun Pharma, however, tanked over 5 per cent.
'Binary fission will happen -- startups will lead to more startups.'
Uttam Ghosh gives us his unique take on the longer work hours debate.
Export-led Indian IT sector is not directly hit by Trump's tariff order on goods, but there could be worrisome indirect bearings on it arising out of possible slowdown in decision-making and GDP growth in America over higher tariffs, which may then cloud demand from specific verticals, according to some analysts.
Tata Steel and Tata Motors dropped over 10 per cent each. Larsen & Toubro, HCL Technologies, Adani Ports, Tech Mahindra, Infosys, Tata Consultancy Services, Reliance Industries and Mahindra & Mahindra were the other big laggards.
Infosys was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company's sharp downward revision in its growth guidance took most brokerages by surprise. In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say. Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
Leaders who built and manage these incredible global companies cannot be tyrants, slave-drivers, or idiots. Essentially what they are saying falls under the definition of rallying the troops, inspirational talk, like the usual coach-speak with the team before a match, asserts Shekhar Gupta.
Trading sentiment in the equity market will largely be driven by domestic corporate quarterly earnings, any update related to US tariffs and foreign fund movements this week, analysts said. Investors would also focus on world market trends, movement of global oil benchmark Brent crude and the rupee-dollar trend for further cues, experts noted.
Industry players said IT hiring was not as strong as it was in 2022. One reason is the high bench IT firms have due to earlier hiring.
Bengaluru-based IT major Infosys is growing its footprint in the Nordics by establishing a new proximity centre in Oslo, Norway, as part of its continued expansion plans in the region. The new centre is expected to enable Infosys to attract, re-skill, and upskill local talent to work on global opportunities through next-gen technologies like cloud, AI, IoT, 5G, and software engineering. The Nordic region consists of five sovereign states - Denmark, Finland, Iceland, Norway, and Sweden - besides the three autonomous territories connected to these states: the Faroe Islands and Greenland (Denmark), and land (Finland).
Indian IT services major Infosys on Thursday announced that it will expand collaboration with tech giant Microsoft to drive enterprise cloud transformation globally. According to a statement, the extended strategic collaboration between Infosys and Microsoft is expected to benefit enterprises by bringing them the best of Infosys Cobalt cloud offerings and Microsoft's cloud computing technologies, led by Azure, across the business value-chain.
Sudha and Akshata Murthy's candid confessions about each other.
Markets investors became richer by Rs 27.10 lakh crore as the BSE benchmark Sensex continued to rally for the sixth trading day, surging nearly 6 per cent during this period. On Monday, the 30-share BSE bellwether gauge jumped 1,078.87 points or 1.40 per cent to settle at an over six-week high of 77,984.38. During the day, the benchmark zoomed 1,201.72 points or 1.56 per cent to 78,107.23.
'It won't be a V-shaped recovery. It'll be consolidation.' 'Investors might exit during that grind. It'll be painful.'
Britain's Prince Edward and former prime minister Rishi Sunak were also at the game.
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
Information technology (IT) stocks ended at their lowest in nearly nine months after a fresh bout of selling, triggered by concerns over a recession in the US, the key market for domestic software exporters. A report by Morgan Stanley citing risks to growth also weighed on sentiment.
Early-bird results for the January-March 2025 quarter (Q4FY25) suggest a slowdown in earning growth for India Inc, despite a benign cost environment that has led to an improvement in margins. The combined net profit (adjusted for exceptional gains and losses) of 175 early-reporting companies rose by 3.8 per cent year-on-year (Y-o-Y) in Q4FY25, marking the slowest growth in 17 quarters.
What do you think is the right way to go?
IT attrition rate is expected to be around 12% to 13% this year.
