'One of the strategies is to pick deals carefully. That means looking at sectors like energy, banking, insurance and also doing outsourcing.'
A slowdown in hiring by India's top IT companies has resulted in a sharp increase in the industry's profit per employee in Q3FY23. The top four IT companies earned a net profit of 1.7 lakh per employee during October-December 2022, up 8.6 per cent from Rs 1.57 lakh in Q2FY23 and 16.3 per cent from a record low of Rs 1.47 lakh in Q1FY23. Earnings per employee in the third quarter were, however, still down 0.9 per cent on a year-on-year (YoY) basis.
Sikka will take over from current Chief Executive SD Shibulal, one of the engineers who founded Infosys, on August 1.
It also gave an upbeat growth outlook, sending its shares up the most in more than eight months.
Infosys Ltd's refocus on big-ticket contracts since the return of its founder has begun to pay off as India's No. 2 software services exporter crossed $2 billion in quarterly sales for the first time and pushed up its revenue outlook.
In June alone, Rs 13,000 crore (Rs 130 billion) worth shares were released.
In tougher times, there seems to be an overwhelming focus on managing the large or anchor clients.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Tata Consultancy Services, India's largest IT company, sold 50 per cent stake in Intelenet Global Services Ltd to Housing Development Finance Corporation Ltd for Rs 161 crore (Rs 1.61 billion).
The stock market comes full circle; pharma also gains prominence, courtesy rupee depreciation
Firms are increasingly launching health initiatives for their employees to reduce stress, revitalise body -- it also helps keep people occupied.
Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards.
Tata Consultancy Services said quarterly consolidated net profit surged 49.6 percent, its fastest pace of increase in at least two-and-half years, helped by increasing demand for outsourcing services in the United States and Europe.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
The newest CEO in the Tata group brings an aggressive pace and style to India's largest IT consultancy firm.
India must diversify its services trade away from low-cost programming if it is to remain an IT-enabled hub.
Besides Florida and Louisiana, the Houston Consulate provides service to Indian community and businesses in Alabama, Arkansas, Georgia, Kansas, Mississippi, Oklahoma and Texas states.
Post Q1 results, the stock rallied 8% compared to 2% rise in S&P BSE Sensex and 4% gain in S&P BSE IT index.
The facility will cater to govt services that require Inpact Level 3 security.
Work should not flow; it should get done, said N Chandrasekaran.
The early-bird results for the April-June quarter of 2024 (Q1FY25) hint at a slowdown in corporate revenues and profits in FY25. Corporate profits might face headwinds from a continued revenue growth slowdown and a reversal in margin gains from lower commodity and energy prices in FY24. The combined net profit (adjusted for exceptional gains and losses) of the 210 companies that have declared their Q1FY25 results so far is down 4.2 per cent from the year-ago period - their worst showing in seven quarters.
Tatas' best bet would be to find an insider who understands the systems, say headhunters
The company has created eight stacks of related operating units, and the stack heads will report directly to chief executive officer N Chandrasekaran.
The country's second largest employer in the corporate sector has over 300,000 men and women on its roles in 50 countries.
Both firms have broken TCS' streak of industry-leading performance over the past few quarters by posting higher revenue and earnings growth this quarter.
The overall momentum is very strong, said the company CEO.
TCS expects the October-December quarter volumes to be lower due to lesser working days.
M&B is partnering with TCS to streamline the management of its HR and Payroll operations.
Tata group firm TCS on Wednesday replaced Mukesh Ambani-led Reliance Industries as the country's most valued company in terms of market capitalisation, as investors rallied behind the shares of the IT giant.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
Investors' wealth fell by Rs 2.39 lakh crore on Monday in line with a weak trend in the global equity markets. The BSE Sensex tanked 861.25 points or 1.46 per cent to settle at 57,972.62. During the day, it tumbled 1,466.4 points or 2.49 per cent to 57,367.47.
Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
The country's largest information technology (IT) service provider, Tata Consultancy Services (TCS) is all set to expand its footprint in West Bengal, according to state IT minister Partha Chatterjee.
The quarterly results of India's big four IT (information technology) players (HCL, TCS, Infosys and Wipro) have left investors confused, with no clarity on the sector's outlook.
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