Indian IT-BPO firms are looking at Philipines as a viable option to build outsourcing centres.
Indian IT firms have started mining smaller clients with more fervour given that the revenue accruring from their top clients has been declining due to the US slowdown and the sub-prime crisis. Consider this. Revenue accruing from the top clients of the five leading IT firms by revenue - Tata Consultancy Services, Infosys Technologies, Wipro Technologies, Satyam Computer Services and HCL Technologies - dropped by anywhere between 0.2 per cent and 4 per cent
IT major Wipro and Motorola Inc will jointly invest about $ 20 million (Rs 92 crore) over the next three years in their newly formed joint venture for outsourced telecom services.
We saw the highest growth coming in from BFSI (banking, financial services and insurance) last quarter than any of our competitors. It has grown very well. But the others have also now stepped up their focus on BFSI.
Among the Sensex firms, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Asian Paints, Hindustan Unilever, Tata Motors and JSW Steel were the major laggards.
A strident bill concerning US work visas for non-US citizens has been re-introduced before the US Senate. A look at the bill.
On Friday (April 18), Premji in a clear signal of giving more powers to the management, elevated Girish Paranjape and Suresh Vaswani as joint CEOs of Wipro Technologies, which reported a topline of $4.3 billion. Read excerpts of an interview with Girish Paranjape and Suresh Vaswani, joint CEOs of Wipro.
Among the Sensex firms, HCL Technologies, Tata Consultancy Services, Maruti, Wipro, Larsen & Toubro, Infosys, Tata Steel, Bharti Airtel, State Bank of India, Tech Mahindra, UltraTech Cement and Mahindra & Mahindra were the major gainers.
Wipro Limited Profit After Tax grew by 45% year on year (yoy) to Rs. 6.20 billion (Rs. 620 Crores), Total Revenue increased by 39% yoy to Rs. 31.43 billion (Rs. 3,143 Crores)
Wipro Ltd, a relatively late entrant in the lucrative information technology outsourcing market in Australia, is planning to hire more locals.
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
The initiative will work on 40 areas in eight domains -- Energy & water, infrastructure, planning & buildings, Transportation, Public safety & justice, Tourism, recreation & culture, Education, Health and Social services & government administration.
Transcript of the IIT chat held on Friday.
From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.
Ironically, the Bangalore-based company had established itself as a major Information Technology powerhouse leveraging India's low-cost high-skilled manpower.
As Japan makes frantic efforts to deal with the nuclear radiation leaks from the Fukushima Daiichi nuclear power plant in the aftermath of earthquake and tsunami, Indian information technology firms have begun relocating the families of their Indian employees in the country.
Aim is to drive accountability and bring the organisation closer to the client.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
Founded in 2006, PremjiInvest's assets under management are worth over $2 billion across India
Technology market research firm Tech Market View said the contract, which is one of Wipro's largest deals group-wide, signals the growing influence of offshore-centric IT-BPO players in large scale UK outsourcing market.
The funds raised by employees were matched by an equal contribution from Wipro.
So far, all three have launched their own initiatives to train teachers and students in information technology. While Infosys BPO has Project Genesis to train faculty, which in turn teaches students, Wipro recently launched a similar programme called Mission 10x.
T K Kurien talks on the outlook for the next year, the slow growth in the retail vertical and initiatives to introduce automation.
It has replacements ready even for senior managers, in case someone quits.
Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
From the Sensex basket, Maruti, Mahindra & Mahindra, NTPC, JSW Steel, Larsen & Toubro, Reliance Industries, Axis Bank, and Power Grid were the major gainers. Nestle, Wipro, Tata Consultancy Services, HDFC Bank, Titan, HCL Technologies and Infosys were the laggards.
Wipro Infotech, the India and West Asian IT business of Wipro, aims to use its data centre platform to offer a host of services, including cloud computing and software as a service (SaaS) on a pay-per-use model, Anand Sankaran, senior vice-president told Business Standard.
Tata Consultancy Services is the top IT-ITES employer in India, followed by Infosys Technologies and Wipro Technologies.
Among the Sensex firms, Larsen & Toubro, Tata Consultancy Services, Infosys, HCL Technologies, Hindustan Unilever, Axis Bank, ICICI Bank and Wipro were the major gainers. Nestle India, Asian Paints, JSW Steel, Kotak Mahindra Bank and HDFC Bank were among the losers.
Former Co-CEO of Wipro IT Business Girish S Paranjpe has joined the Silicon Valley-based Bloom Energy International as Managing Director. Bloom Energy International is a provider of breakthrough solid oxide fuel cell technology that produces clean, reliable, affordable onsite power.
Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
From the Sensex pack, HCL Technologies, Infosys, Wipro, Bharti Airtel, Larsen & Toubro, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints were the major gainers. Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major laggards.
T K Kurien, chief executive officer of Wipro says the first milestone's been achieved and a complete turnaround would happen when there is consistency in growth.
