Employee costs for Indian IT services players have touched an all-time high as salaries soar in their effort to retain talent. Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 12-13 per cent. High potential employees will get increases of 22-23 per cent.
India's fourth largest software services firm HCL Technologies on Thursday reported a 53.7 per cent jump in its consolidated net profit to Rs 1,834 crore (Rs 18.34 billion) for the fourth quarter ended June 30, 2014.
HCLA was selected through a highly competitive process where it demonstrated its managed cloud-as-a-service solution called iGOVERN(r).
Overlooked yet capable candidates will now have the opportunity to apply for TCS open requirements.
Noida-based software company HCL Technologies will hire 5,000 people for its software operations during the current fiscal apart from recruiting 1,200 people for its call centre operations.
Indian IT major HCL Technologies Ltd has decided to create 250 jobs in Northern Ireland as part of its call centre expansion plan
Former skipper Sourav Ganguly described India as favourites to lift the World Cup, saying the team is in best possible shape to win the quadrennial event which gets underway at England on May 30.
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.
HCL Technology Ltd has secured a contract worth $180 million for its business process outsourcing service operations from BT, a global telecommunications services provider.
India's fourth largest software services provider HCL Technologies on Friday reported 32.3 per cent rise in consolidated net profit at Rs 1,873 crore (Rs 18.73 billion) for the first quarter ended September 30 on the back of strong growth in Europe and business services.
India's fifth largest IT outsourcing company HCL Technologies on Tuesday reported 3.5 per cent year-on-year increase in net income in the first quarter ending September to Rs 167.5 crore (Rs 1.67 billion) on a consolidated basis.profit at Rs 89.39 cr
HCL Technologies Ltd said on Monday that it has reached an agreement with Perot Systems to divest its stake in HCL Perot Systems for $105.3 million in an all cash deal.
Shares of HCL Tech hit a fresh record high of Rs 1,118.55 on Friday, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deals.
HCL Technologies BPO Services Ltd (HCL BPO), the BPO arm of HCL Technologies, said on Saturday that it would be expanding its staff strength to about 40,000 by 2009.
Indian software services exporter HCL Technologies Ltd aims to expand its workforce size in its local back-office services unit by more than 60 per cent to 2,500 by March 2004.
English Premier League club Manchester United said on Wednesday it had signed a partnership deal with IT firm HCL Technologies to improve its website and app as it gears up to launch a new digital media strategy.
HCL Technologies on Tuesday reported a 46.7 per cent rise in net profit at Rs 129.14 crore (Rs 1.29 billion) in the second quarter ended December 2004 over the same period last year.
HCL Technologies surged on Monday after the company said that it has won a BPO order worth $160 million from British Telecom.
Indian corporate are fast tapping the international bonds market to raise funds for their operational expenses even as they reduce their presence in the rupee bond market. As bonds are costlier for companies and investors are more sceptical than the banks, chief financial officers say they are looking at other avenues for raising funds in the coming months as dollar bond rates are lower in the range of 100 to 250 basis points. "For corporate with reasonable credit quality, the Indian bond market has become less of an option from a cost point of view. "In addition, conditions imposed in the Indian bond market by investors post Franklin episode have also become very onerous," said Prabal Banerjee, president-finance of Bajaj group. "Hence very few corporate are looking at the local bond market for resource mobilisation, since both, bank loans and the overseas bond markets are much more attractive," he said.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
'Pockets of mid and small-cap indices are showing exuberance and are discounting even FY23 valuations now.'
TCS, HCL Tech join Infy in reporting improved earnings, are bullish on outlook.
Best performers get gifts such as foreign holidays, high-end cars and mobile devices
The spread of the Omicron variant of the coronavirus has made Indian companies persist with their policy of banning overseas trips and allowing only essential travel within India. The IT services firms, which had planned to ask their employees to return to the workplace, are also waiting and watching the Covid-19 situation before fully opening up their offices. Large conglomerates like the Tatas, Birla, JSW and Reliance are continuing with the mandatory social distancing and masking policies within their office premises.
Tata Consultancy Services (TCS) has become the first Indian company to exceed Rs 5 lakh crore in market capitalisation.
Fewer working days and a stronger rupee may impact December quarter performance; rise in overall demand a positive factor.
By 2026, around 25 per cent of the global population may spend at least an hour a day on Metaverse. This will open the doors for many businesses, the NFTs market will spread, and Web 3.0 will attract more investment.
There was an uptick in clients' spends in the digital segment.
Infosys aims to achieve an aspirational goal of $20 billion in topline by 2020.
Considered a visionary, Rajendra S Pawar was years ahead of his time in realising the importance of IT (information technology) education in India.
Brazil's alternative energy company, Cemig, tops the list of Environmental Tracking (ET) BRICS 300 Carbon Ranking.
This business could also be aided by new outsourcing opportunities in IMS from Germany, France and northern Europe
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.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
According to a PTI report, in the latest '2012 Global Outsourcing 100', compiled by the International Association of Outsourcing Professionals, three Indian firms have found a place in the top 10, with Accenture heading the list.
