Top tier Indian software companies should see strong topline growth in FY04 due to the country's emergence as an attractive destination for outsourcing, according to credit rating agency ICRA's report on information technology.
The revenues of the top 5 India-based IT services providers worldwide rose by over 13 per cent to $34.3 billion (around Rs 1,900 crore) last year from $30.3 billion in 2011.
The Nifty IT has been one of the worst-performing indices on the bourses this calendar year. Rising concerns of a potential global recession, which investors fear can dampen demand for export-facing domestic information technology (IT) giants, have sent the index down over 30 per cent on a year-to-date basis. By comparison, the Nifty50 Index has shed 2.8 per cent during the period, reveals data by ACE Equity.
Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares, or 0.93 per cent, of Infosys at the end of September, according to company filings with the stock exchanges.
The fourth quarter (January-March) is usually a weak quarter for the Indian IT companies due to the lesser number of billing days. This time, however, the good news is that the rupee has depreciated by about 1.3 per cent during the quarter. Every increase/decrease of a percentage point in the rupee lowers/adds to the operating (EBIDTA) margins by 30-50 basis points (bps).
A domestic policy group would focus on issues related to service taxes, Data Protection Act and Indian Copyright Act. The international group would address global policy issues like WTO, besides visa and work permit matters.
The railways are planning to invest Rs 250,000 crore over the next five years to expand its network, modernise and upgrade the technology, all in a bid to provide world-class facilities to passengers. Consequently, investment in IT projects will be increased to several thousand crore rupees over the next five years, according to Railway Minister Lalu Prasad. A major part of this investment will be in the nature of public-private partnerships and domestic IT firms benefit.
Faced with imminent recession in the United States, Indian IT services companies might take this step from April 1, 2008.
Top IT executives discussed the need for change in the role of boards in IT firms to meet the changing scenario of the IT sector.
The fringe benefit tax (FBT) was levied on ESOPs in the Union Budget this year and the IT industry is still grappling with the issue of how to factor in the tax.
India's export-driven IT services industry would see erosion in margins due to the strengthening of the rupee, a top official of Infosys Technologies said on Friday.
India will be the first country to have a separate ranking.
India's second-largest information technology (IT) firm Infosys has decided to reduce the average variable payout of employees to 70 per cent due to falling operating margins in the first quarter (Q1) of 2022-23 (FY23), said people in the know. "The margin impact in the current quarter has reflected on the performance bonus for this cycle," the company told its employees over email. "While 70 per cent is the correct figure, an important point is we have been told that the company will not defer any variable payment. "It is being paid according to schedule," said a person.
With the economy giving positive signals, hiring is back. However, so is attrition, with disgruntled employees demanding more or moving to greener pastures to make up for lost time and money.
The company is already planning a second centre in India, most probably on the outskirts of Maharashtra, which would supplement the Vadodara centre.
Rising rupee and wage inflation may hit topline by four per cent.
Last year in the same quarter, Cognizant had toppled Wipro as the third largest software exporter in India.
Polaris gets over 90 per cent of its revenue from exports. Till financial year 2009-10, the company did not actively think about a strategy to buy space in a special economic zone.
One reason for resistance to moonlighting is that WFH calls into question the necessity for the thick layers of middle and senior management which run most businesses, argues Devangshu Datta.
The IT sector is poised to begin its Diwali celebrations ahead of time with the analysts anticipating an impressive second quarter earnings report card on the back of robust business volume growth and a stronger US dollar.
Analysts say other than the niche focus, these firms are also reaping the benefit of deals becoming smaller.
A day after world's top search engine Google threatened to shut down its operations alleging cyber attacks and censorship, China on Thursday said that foreign internet firms were welcome to do business in the country "according to the law".
The catchwords today are digital, analytics, robotics.
TCS is fastest growing software brand in the world.
IT sector may have to face tough times ahead.
With top Indian software giants like Tata Consultancy Services, Infosys and Wipro setting up and expanding operations in China, the domestic players have started feeling the heat.
As Indian IT and ITeS firms continue to focus on 'going global,' companies have registered a whopping 73 per cent increase in their wage cost year on year in September 2005, according to a study by industry chamber Assocham.
The Wipro's office on Hosur Road was completely flooded and the company said it has made arrangements for the employees to work in its other offices in the city.
.jpg)
After setting up a committee under N Rangachary last year to look at taxation issues regarding the sector, the government has issued several notifications in the last eight months.
Indian IT heavyweights continued to drive growth in the industry, with the top 20 players accounting for 53 per cent of the $28.5 billion revenues in 2004-05, according to a survey.
Every week, we bring you fascinating videos, chosen by you, through your likes.
Bikers pushing their two-wheelers that were stuck and pedestrians struggling to navigate through knee-deep water was a common sight in some places.
Chennai-based Megasoft is to acquire 60 per cent stake in 1.4 million euro German IT services company -- Beam AG -- in an all cash deal, it was announced on Monday.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances