Tier-II and tier-III towns have a reason to rejoice.
The broad idea is to help freshers and high-potential employees develop soft skills not generally taught at universities, and simultaneously increase retention rates in an industry that has attrition rates between 30 and 50 per cent. The industry, according to Nasscom estimates, accounts for almost $11 billion and employs slightly over 700,000 professionals (in terms of direct employment).
With companies looking to provide the right balance between professional demands and personal lives for its employees, HR experts believe the concept is one of the main drivers to stem attrition and enhance productivity. Global science products and services firm Dupont Vice President Human Resources Maritza Poza-Grise told PTI that for managers it is critical to engage their workforce and the organisation goals have to be transformed into personal goals for the employees.
Tata Consultancy Services (TCS), HCL Technologies and HDFC Bank are among the 50 best public companies in Asia-Pacific according to a compilation by Forbes, which ranked India second behind China as home to the "world's next growth engines".
The shares represent around 0.2 per cent of the existing issued share capital of Axon. The undertakings, according to a BSE announcement, remain binding even if a higher offer is made by a third party, but cease to be binding if the HCL scheme is withdrawn or lapses, or if the HCL acquisition is implemented by way of a takeover offer.
Under the alliance, HCL and Eckler will work together on various actuarial consulting and implementation projects across the globe, a company statement said in New Delhi.
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
'If the business doesn't recover in next 6-10 months, there might be situation where there would be some lay-offs...That may be required for survival and to ensure livelihood to millions of people.'
IT solutions provider HCL Technologies has acquired CapitalStream, a US-based lending automation solutions provider, for Rs 158 crore (Rs 1.58 billion) in an all-cash deal.
Driven by growth in software and infrastructure services businesses, IT major HCL Technologies Tuesday reported an over two-fold jump in its consolidated net income at Rs 330.1 crore (3.3 billion) for the quarter ended June 30, 2009.
They also siphon money through 'work@home' schemes.
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
The Indian Institute of Management, Kozhikode, invites industry delegates and management students to attend its annual IT Management seminar, AIMS 2006.
New Delhi-headquartered IT services provider HCL Technologies plans to cancel hedging contracts worth $600 million (around Rs 2,970 crore), as the rupee continues to remain at Rs 49-50 levels. These hedges, analysts opine, would be taken at a rate of around Rs 41.
Tata Consultancy Services topped the list of top 10 best performing IT service providers worldwide rated by Global Services, a specialised publication for IT businesses.
British consultancy major Axon Group on Thursday decided to go ahead with a pound 441-million acquisition offer from HCL Technologies, while withdrawing its support to a smaller bid from Infosys.
With India's two leading IT outsourcing companies, Infosys and HCL Technologies, vying to acquire the UK-based consulting firm Axon, SAP implementation is back in focus.
HCL Technologies on Wednesday announced a Rs 910 crore ($200 million), multi-service, five-year contract with Skandia UK, taking its cumulative order position in this calendar year to over $600 million
Leading IT solution provider HCL Technologies Ltd has signed an agreement with Glenmark Pharmaceuticals Ltd for implementing its comprehensive drug labeling framework
Information technology services provider HCL Technologies is close to clinching a $1 billion (about Rs 3,950 crore) outsourcing contract from a European telecommunications company.
Experts are of the opinion that though digital services hold the future, the companies are likely to take a hit during the transition period.
HCL Technologies Ltd and SuperH Inc signed a pact enabling HCL Tech to become a member of the 'SuperH Design Agency' program.
HCL Technologies Ltd, India's fifth largest software services exporter, reported on Monday its quarterly profit fell from a year earlier.\n\n\n\n
The $55 billion Remote Infrastructure Management business is on the topmost agenda of an increasing number of Fortune 500 companies and Global 500 enterprises.
Infosys had bid at 600 pence a share for the UK company. Infosys will get the one per cent inducement fee that Axon has to pay to the party unable to close the deal.
The company will be taking its total outsourcing offering to the retailers in the small and medium enterprise category, whereas for the large retailers, it will pitch the best-of-the-breed target solutions to cater to specific problems.
A 700-750 pence per share final price for Axon ($900-910 million) cannot be ruled out by the time the bidding war ends, say CLSA analysts. However, regardless of whoever wins this largest overseas acquisition, Emkay Global Financial Services analysts opine that Axon could well prove to be a winner's curse since a long-drawn bidding war might tell on the bottom lines of both firms.
Eyeing to make 8 buys to meet their revenue guidance.
Raises offer 8.3 per cent; Infosys says it is 'considering its position'.
Software exporter HCL Technologies on Tuesday reported a standalone net profit of Rs 192.94 crore (Rs 1.92 billion) for the quarter ended June 30, 2009, while it had a net loss of Rs 13.54 crore (Rs 135.4 million) in the corresponding period previous fiscal.
The company had hedged $2.5 billion as of March 2008, but unwound its position reducing its exposure to $1.7 billion as on June 30. The unwinding resulted in a loss. An analyst tracking the firm said: "This was expected as HCL Tech had a major portion of its hedges in forward cover. Since the company has unwound $540 million of forward covers, a major part of which will show up in other income.
Major IT firms Dell, Intel, Aricent, HCL Technologies, Wipro, Lenovo, Nokia and Tulip Telecom, among others, have realised that "going green" is profitable business. Not only does it require a low initial investment but it also earns them brownie points for helping in reducing e-waste.
The six IT majors -- TCS, Infosys, Wipro, Satyam, HCL Technologies and Congizant -- along with two BPO giants Genpact and WNS are recording a yearly growth rate of over 40 per cent, according to technology consultancy firm Everest Group. Apart from these big names, all the other smaller players are struggling at a growth rate of around 20 per cent a year, Everest Group CEO Peter Bendor-Samuel told PTI.
New Delhi-based IT software development and services provider, HCL Technologies, is set to invest Rs 1,000 crore (Rs 10 billion) in its new technology hub, which was inaugurated at Noida, near New Delhi. The company expects the new facility to generate over $1 billion from software exports annually, and is targeting a 30 per cent growth in revenues over the next five years.
Focussing its attention on technology and, research and development based outsourcing, HCL BPO will open an offshoring centre in Pondicherry in 2006
IT firm HCL Technologies on Wednesday said its net profit declined by 42 per cent to Rs 152.57 crore (Rs 1.52 billion) in the third quarter ended March 31, 2009.
Global IT solutions provider HCL Technologies Ltd has signed a five-year multi-million dollar agreement with US-based Autodesk Inc to provide offshore application and data centre services.
Talent squeeze has been eroding some benefits of Indian vendors.
