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Top Indian IT services companies - TCS, Infosys, Wipro and HCL Tech - have said that they would continue to hire freshers through campus interviews, though lateral hiring will be mostly on exception basis.
Companies spent less money buying back their shares from the public last year than at any time since 2015. They announced buybacks of up to Rs 14,341 crore, show numbers from primary market tracker Prime Database. The total amount spent was Rs 13,597 crore. Both the amounts are lower than what was offered (Rs 39,564 crore) and spent (Rs 36,517 crore) in 2020.
The Supreme Court Tuesday extended the stay on criminal proceedings against former Wipro chairman Azim Premji, his wife and others on their plea seeking quashing of summons issued by a Bengaluru court on a "frivolous" and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three companies with a Premji group firm. A bench of justices S K Kaul and M M Sundresh was hearing an appeal filed by Premji challenging the Karnataka high court order of May 15 which had rejected their pleas for quashing of the January 27 summons issued by the trial court.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Life has many challenges. You win some and lose some. You must enjoy winning. But do not let it go to the head.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Fewer working days and a stronger rupee may impact December quarter performance; rise in overall demand a positive factor.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Stock market crash: TCS sheds $21 billion in market capitalisation, Infosys $7 billion and Wipro around $3 billion
While the denial rate has dropped slightly to 21 per cent in 2019 from 24 per cent in 2018, the National Foundation for American Policy has said it is much higher for Indian IT companies like Tata Consultancy Services (TCS) and Wipro and very low for American companies like Amazon and Google. For instance, the denial rate for TCS and Infosys in 2019 was 31 per cent and 35 per cent respectively, whereas for Wipro it was 47 per cent and 37 per cent for Tech Mahindra. On the other hand, the denial rate for the new H-1B petitions in 2019 was just four per cent each for Amazon and Google. The denial rate for Microsoft during the same period was six per cent, and Facebook along with Walmart was just three per cent each.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Siemens Healthineers, one of the largest manufacturers of made-in-India CT scanners, has sold 80-100 such machines in the last 45 days. The medical technology firm typically sells 250 machines in a year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
At a time of massive job losses that is what the much-vaunted Indian IT sector needs. Ritwik Sharma reports.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Already 15-20 per cent of the workforce, earlier used to be procured from staffing firms and subcontractors, are replaced by freelancers tapped from platforms like Topcoder, GitHub, and Upwork.
In 2011, the Trinamool manifesto had said, the government would not allow SEZs in West Bengal, to protect multi-crop lands.
China, India and Brazil showed significant support for additional spending on green products.
Wipro topped the race, limited to just four computer manufacturers, of which two did not provide any data. Wipro scored 5.3 points out of 10 whereas HCL, the market leader, comes second with 1.7 points.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Irrespective of demonetisation and GST blues, IIM Lucknow has been able to successfully place their batch of 459 students.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
The Indian IT industry is in for a tougher visa regime in its biggest market, the US. Firms such as Infosys, TCS and Wipro that send thousands of techies on short-term business assignments to the US will now have to disclose personal details of these employees and names of the American companies they are assigned to.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
The combined assets of the top five - Tata Consultancy Services (TCS), Infosys Technologies, Wipro, HCL Technologies and Tech Mahindra were down one per cent to Rs 27,7400 crore at the end of 2017-18, from Rs 28,0100 crore a year before.
While most analysts remain positive on TCS and Infosys, they are cautious on Wipro.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
With a target to get the IT business back on growth, Kurien will get a salary in the range of Rs 3 crore (Rs 30 million) to Rs 10 crore (Rs 100 million) per annum.
It is not clear whether the drop in offers is a fallout of demonetisation.
Technology evolution forces private players to downsize operations.
TCS is expected to report a 5 per cent QoQ (USD) growth in revenues, highest in our coverage, while Wipro's IT Services revenue growth could be closer to 1.1 per cent QoQ (USD terms)."
With prominent Indian IT companies such as Tata Consultancy Services (TCS), Wipro, Infosys Technologies, Zensar Technologies and Satyam Computer Services increasing their presence in Japan, the world's second largest IT services market is becoming a lucrative market for India.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
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