The IT industry advisories show that they think they've weathered the worst, observes Devangshu Datta.
Total income of Wipro was almost flat at Rs 15,571.4 crore at the end of the first quarter of 2020-21 compared to Rs 15,566.6 crore in the corresponding quarter of the fiscal year 2019-20.
Major IT firms such as Tata Consultancy Services, HCL Technologies, Infosys, Cyient, and L&T Technology Services have direct exposure to Boeing or its suppliers' ecosystem, which comprises engine manufacturers, body suppliers, and avionics providers. These firms provide services like application development, testing, engineering, avionics, and business process management for the Boeing 737 Max programme.
Revenue rises 20.7% to Rs 36,854 crore.
In 2017, when Infosys announced that Salil Parekh would be its next chief executive officer (CEO) and managing director (MD), very few in the industry or the analyst community doubted his ability to bring the company back to a healthy growth trajectory, improve morale within the company and, more importantly, win the promoters' trust and investor confidence. There were reasons for this confidence. He was not only the deputy CEO of the Paris-headquartered IT services major Capgemini, but also one of the only non-European faces on the executive board of the company.
Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent on Wednesday due to profit booking in banking, financial and IT stocks after a recent rally. The 30-share BSE Sensex plunged 537.22 points or 0.94 per cent to end at 56,819.39 as 24 of its stocks declined. During the day, it tanked 772.57 points or 1.34 per cent to touch a low of 56,584.04. The broader NSE Nifty declined by 162.40 points or 0.94 per cent to 17,038.40 with 39 of its constituents ending in the red. Bajaj Finance was the biggest loser among Sensex stocks, dropping by 7.24 per cent.
'With a strong customer base, we will continue to focus on customer-centric services, offer integrated full services, a global delivery model, tap emerging markets and increase our non-linear capabilities.'
The Central Board of Direct Taxes (CBDT) has extended various tax returns filing deadlines till December 31 this year but it will continue to levy interest on delayed payments made after July 31, the original due date. Officials say tax payment has to be done through net banking, and the assessee doesn't need to use the e-filing portal, which has been facing glitches. So, taxpayers have to bear the interest payment liability of 1 per cent per month on the outstanding tax for those who filed a return after July 31.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
BS Annual Awards 2014: Power-packed jury picks the best 7 of corporate India
His global experience, deep business acumen and long association with the Tata Group will prove invaluable in his new role: ICICI Bank MD and CEO Chanda Kochhar.
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
While Tech Mahindra's Gurnani earned Rs 146 crore in 2017-18, his actual gross salary component was Rs 2.77 crore. Wipro's Neemuchwala, on the other hand, took home Rs 18.23 crore
Neemuchwala will be a big asset when it comes to setting things right.
Dream rally: Investors' wealth doubled in 5 years in India's equity market on Friday.
On the Sensex chart, IndusInd Bank was the top gainer, rallying over 11 per cent, followed by ICICI Bank, SBI, HDFC, M&M and Axis Bank. On the other hand, Dr Reddy's, Tech Mahindra and TCS were among the laggards.
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. This was despite the Nifty's 1.5 per cent decline during the quarter.
Infotech publication Dataquest has chosen Tata Consultancy Services CEO Subramaniam Ramadorai as the 'IT man of the year 2004' and Indian Railway Catering and Tourism Corp for its 'pathbreaker award' for the same period.
Why hasn't India produced a single earth-shaking idea like Python or the World Wide Web, asks Ajit Balakrishnan.
The sector will see a minimum of 3-5 per cent of the weight being shed in almost every IT company - particularly the big 20 - because of Covid and not performance-related issues.
Since August 2011, the company has not only lost out to closest peer Cognizant but also increased the gap with larger competitor TCS.
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.
'There will only be an institutional solution between the board and the founders to take Infosys forward.'
Kochi's Infopark has managed to get Rs 3,000 cr investment.
According to Randstad Employer Brand Research (REBR) 2020, Microsoft India scored high on financial health, strong reputation and utilisation of the latest technologies. Others in the top 10 list are Samsung, Amazon, Infosys, Mercedes-Benz, Sony, IBM, Dell, ITC and TCS.
If a salaried employee does not possess Form 16, he can still file the I-T Return with the help of his salary slips and Form 26 AS.
Technology evolution forces private players to downsize operations.
Its longest-serving CEO (he held the position from 1981 to 2002), he leaves Infosys when the gap between it and the number one information technology services company (TCS) is growing wider.
The company's decision comes when there has been a dip in intake due to tepid demand, increasing automation, reports Debashis Mohapatra.
TCS is the country's most valued firm with a market capitalisation of Rs 687,123.96 crore
Many businesses hire blockchain developers to provide the finest solutions and establish new technologies by utilising their superior expertise.
Leverage ratio falls to under 1; but group heavily dependent on TCS & Tata Motors.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
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
Along with a robust set of numbers, the management too sounded confident of its growth prospects
Considering the June quarter numbers have been softer, as compared to the past quarters, and the overall macro environment is yet again under a cloud, Indian IT services should seriously look at the new normal
Top companies across sectors -- automobile maker Maruti Suzuki, consumer electronics giant Samsung to IT giant Infosys -- have reopened factories and offices as India took its first steps towards resuming economic activity after weeks under a near-total coronavirus lockdown.
Stamp of approval on CEO's strategy and long-term goal for the company
Chandrasekaran speaks about sustaining growth and TCS' growing importance in the Tata Group.
Tatas' best bet would be to find an insider who understands the systems, say headhunters
