Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
In the quarter ended March, the company's overall headcount fell by 791 to 84,403.
Anant Gupta, president and chief executive officer, HCL Technologies, says while the company is strong on the non-discretionary front, the discretionary side continues to be challenging.
HCL Technologies' stock has been on a run since the company announced its good first quarter results. An interview with Anant Gupta, president and COO, on the company's future strategies.
The decline in these was mostly due to company or sector-specific issues, say experts.
After spending 20 years at HCL Technologies and heading various service lines, Anant Gupta on Thursday assumed the role of president and chief executive officer.
It had announced slashing of up to 10,000 jobs globally by the end of 2013.
As many as 489 overseas investment transactions were carried out by various companies in March, as per the Reserve Bank data released on Wednesday.
Forbes Asia on Thursday announced its 'Heroes of Philanthropy' list for the fourth year running, with four Indians among the top 48 philanthropists.
S Premkumar has joined as the Group CEO -- Healthcare Services, Apollo Hospitals, one of the country's largest hospital chain.
Indian IT companies TCS, Infosys, Wipro and HCL Technologies have issued advisories to their employees working in US, whose East Coast is battered by a superstorm.
Ayan Pramanik and Shivani Shinde Nadhe report on the uncertainties that have dragged down shares of TCS, Tech Mahindra and HCL Technologies.
Both companies, along with three others, were suspended in 2010 on grounds of irregularities.
Terming it a socially responsible business model for growth, HCL Tech vice chairman and CEO Vineet Nayar said the company would create these jobs for fresh engineers.
From the beginning of 2021 Wipro has moved on to a new organisational structure. Analyst tracking the company are now wondering if CEO Thierry Delaporte's attempt to bolster Wipro's presence in the BFSI (banking, financial services and insurance) space by acquiring Capco for $1.45 billion is a step taken too early. Though many agree that Capco as a target may be good, but Wipro, which has been the most aggressive player in acquiring firms compared to its Indian players, does not have much to show in terms of performance as it continues to lag peers.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India's top IT companies have shown a hiatus between their performance on the bourses in the pandemic period and earnings growth. The combined market cap of the top five IT companies - Tata Consultancy Services, Infosys, Wipro, HCL Technologies, and Tech Mahindra - is up 87 per cent since the end of March 2020. In comparison, the benchmark BSE Sensex is up 68 per cent during the period. So the industry beat the broader market by a big margin in the last one year.
HCL Technologies on Wednesday said it will give salary hikes of up to 8 per cent to its offshoreemployees and its plan of hiring 10,000 people in the US and Europe is also on track despite the global economicuncertainties.
IIT Bombay has, over the last decade, generated Rs 200 crore (Rs 2 billion), only via donations from its alumni.
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
Communication has instilled a sense of trust and belief among the employees.
India and China together account for 32 of the 50 companies in Forbes' sixth annual 'Asia's Fabulous 50 listed companies'.
This is expected to benefit subcontractor firms such as Manpower Group, Randstad, Adecco, Kelly Services, Allegis Global Solutions and a host of other boutique staffing firms which supply skilled manpower to technology companies in the US.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Software exporter HCL Technologies (HCLT) on Wednesday said it will hire about 3,000 people in the July-September quarter.
Software exporter HCL Technologies (HCLT) on Wednesday said it will hire about 3,000 people in the July-September quarter.
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
To get the best talent, they put stiff riders for recruitment.
Growth in Continental Europe will continue. It is expected to grow at around 7 per cent.
India's HCL Comnet, a subsidiary of HCL Technologies, has got a network management order worth Rs 31 crore (Rs 310 million) from state-run National Insurance Company, the Bombay Stock Exchange said on Friday.\n\n\n\n
Polarisation and the increase in index weight of a few a stocks have weighed on performance. The worst performers include Nippon India Large Cap and HDFC Top 100 (2.6 per cent).
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
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.
A new generation is being groomed to take over some of the top companies in India.
There is no denying the fact that thanks to its treasure-trove of skilled manpower and high growth of software export, India has gradually developed to be an IT powerhouse.
Analysts see HCL's Rs 1,780 crore deal with Reader's Digest and another half-a-dozen big deals signed in the past three months by Indian IT firms, encompassing both global and domestic markets, as evidence that the outsourcing story continues to progress as the best option for companies to cut costs in the current difficult economic environment.
Such businesses outperform non-family firms by 3% in first six months of CY20, says Credit Suisse report.
Steve Cardell, CEO of HCL Axon, spoke to Pallavi Aiyar about why, despite the reservations many analysts had, the move appears to have paid off for both entities.
