Among Sensex firms, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Mahindra & Mahindra and Tata Motors were the biggest gainers. UltraTech Cement, JSW Steel, Tata Steel, Adani Ports, Power Grid and Bajaj Finserv were among the laggards.
The earnings season this financial year is expected to start on an exciting note, as two information technology (IT) behemoths Infosys and Tata Consultancy Services (TCS) report their first quarter numbers on the same day. By now, TCS is expected to report a better set of numbers than Infosys.
The US had initiated investigation against Infosys and its larger rival Tata Consultancy Services (TCS) for possible violations of H-1B visa rules in June.
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.
Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million
A strident bill concerning US work visas for non-US citizens has been re-introduced before the US Senate. A look at the bill.
Tata Consultancy Services is the top IT-ITES employer in India, followed by Infosys Technologies and Wipro Technologies.
From the Sensex pack, Tata Motors, Sun Pharmaceutical, Bharti Airtel, Bajaj Finserv, ICICI Bank, Mahindra & Mahindra and JSW Steel were the gainers. Tech Mahindra, HCL Technologies, Asian Paints, Titan, Infosys, State Bank of India, Tata Consultancy Services and HDFC Bank were the laggards.
The company, which reported a moderate performance in the third quarter of FY09, had earlier indicated that it could resort to such a step. India's largest software exporter Tata Consultancy Services said on Thursday that it planned to review the variable component of employees' salaries every quarter in an attempt to cut costs.
Wipro, Satyam join TCS, Infosys in beating rupee blues.
From the 30-share Sensex pack, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Asian Paints, Infosys and Maruti Suzuki were the biggest laggards.
Construction will commence in 2011-12 and be completed in three years. TCS is the second IT firm to set up such a facility after Bengaluru-based Infosys Technologies inaugurated its campus in Mysore last year.
Nasscom president Som Mittal shares his view on issues such as the rise in value of the rupee against the dollar, hiring trends and the role of IT in e-governance.
Spend on IT in US is expected to increase by 6.1 per cent in 2014.
Partly an answer to downturn, political pressure; trend should shift again, say analysts.
Information technology firms appear to have lost their appeal at the Indian Institutes of Technology. Campus recruitment figures by major Indian and foreign IT firms have dipped this year, raising further concerns of an industry slowdown.
The top-10 valued companies added a whopping Rs 2.72 lakh crore to their market valuation last week, as the domestic equity benchmarks witnessed heavy buying tracking an overall bullish trend in global equities. The benchmark indices made strong gains in the holiday-truncated week. The 30-share BSE Sensex climbed 2,313.63 points or 4.16 per cent, while the NSE Nifty advanced 656.60 points or 3.95 per cent. Mirroring the bullish trend in the broader market, the combined market capitalisation (m-cap) of the country's top-10 firms zoomed by Rs 2,72,184.67 crore during last week.
Infosys, however, remains the 'dream company' in the IT arena, while MNCs occupy the maximum mindshare of professionals.
With top Indian software giants like Tata Consultancy Services, Infosys and Wipro setting up and expanding operations in China, the domestic players have started feeling the heat.
TCS, Wipro, Infosys, Sasken may feel the heat as Nortel files for bankruptcy protection.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
The Trump administration has announced a massive increase in H-1B visa fees, imposing a $100,000 annual charge that will fundamentally alter how American companies hire skilled foreign workers, particularly impacting Indian IT professionals who comprise the largest group of beneficiaries.
From the Sensex basket, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC were the major gainers. Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were among the laggards.
Tata Steel, Bajaj Finance, Mahindra & Mahindra, JSW Steel, NTPC, Adani Ports, Bajaj Finserv and Larsen & Toubro were also among the laggards. However, Power Grid, HCL Technologies, Infosys, Tech Mahindra, Tata Consultancy Services and ICICI Bank were among the gainers.
The revenue growth rate for Tata Consultancy Services and Infosys Technologies has declined by over 20 percentage points to about 25 per cent from over 45 per cent in the quarter ended June 2006.
Professional services firm Ernst & Young bagged the contract from UIDAI to become consulting partner for the project.
The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services. However, concern about the macro-environment continues to be a challenge. Among the top four - Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro - it is Bengaluru-based Infosys that has performed the best and that was evident in its full-year revenue guidance.
From the Sensex basket, Sun Pharma, Maruti, IndusInd Bank, Titan, ITC, Tata Motors, Larsen & Toubro and JSW Steel were the major gainers. On the other hand, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, Tech Mahindra and Bajaj Finserv were among the laggards.
From the Sensex pack, Tata Steel, IndusInd Bank, Infosys, UltraTech Cement, NTPC, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, ICICI Bank and Maruti were among the major winners. Titan, Nestle, Larsen & Toubro, Axis Bank, ITC and Asian Paints were among the major laggards.
If the visa issue ultimately requires certain other considerations at govt level, we will consider that, says Ravi Shankar Prasad
While TCS cited evolving business needs and future readiness as reasons, industry experts say the action is a cost-cutting measure aimed at improving operating margins that have remained below the firm's aspirational range despite multiple efforts.
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