Indian IT firms are learning to cope with the appreciating rupee, according to Pradeep Udhas, global head (sourcing advisory), KPMG.
Though dubbed as the "war hero", the role of Rajapaksa in ending the conflict with the Liberation Tigers of Tamil Eelam with the death of its supremo Velupillai Prabhakaran in 2009 is quite divisive as he stands accused of violating human rights, a charge he vehemently denies.
A number of projects aimed at attracting IT investment nearing completion in cities like Madurai, Coimbatore and Trichy.
As some BJP pollsters concede, the Modi leadership's sweeping success in elections 2019, especially across central India, owed not to Hindutva ideology, but to welfare schemes, all of them borrowed from Tamil Nadu, reveals N Sathiya Moorthy.
Whatsapp clarified before the bench that it would not limit the functionality for users who are not opting for new privacy policy in the meantime.
The 5 software companies are Cognizant Technologies, Megasoft, Benchmark Softtech, Proton Web and Advance Software.\n\n
The appraisals being done by most companies this year are harsher than past ones with higher threshold in many metrics. Reduction in headcount has been done across most tier-I and tier-II IT firms along with global technology firms in the country.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
Larsen & Toubro, now one of Satyam's largest single shareholders with 4 per cent, sees a lot of synergy between the core strengths of the beleaguered software giant with those of L&T Infotech, its unlisted information technology subsidiary.
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on quarter-on-quarter basis.
Expectations among investors are high on Infosys Technologies as it comes out with a bonus share option or a stock split to shareholders on Tuesday, synchronising with the company breaching the $1 billion mark in revenues.
Mahindra & Mahindra Ltd is to pick up a majority stake in US-based Bristlecone Inc, an enterprise resource planning company, through a new overseas joint venture company with an investment of up to $7 million.
The boards of i-flex solutions and SuperSolutions on Tuesday approved i-flex's acquisition of SuperSolutions Corporation, a US-based specialised consumer lending software provider, in an all-cash deal for $11.5 million.
IT company Wipro on Thursday posted a 27.7 per cent jump in consolidated net profit to Rs 2,972 crore for the fourth quarter ended March 31, 2021. Wipro had posted a net profit of Rs 2,326.1 crore attributable to equity holders of the company in the same period a year ago.
Unfazed by the US outcry on outsourcing and the implications of the recent cut in number of US visas, Wipro Chairman Azim Premji aims to turn his company into one of the top 10 IT service companies in the world.
With its political colour dominated by less than democratic trends, BRICS currently leaves some of us wondering -- where in this grouping is there an assurance that human freedom will be respected unconditionally? It would be nice to see the new members of BRICS drawn from the ranks of countries wedded to preserving and guarding human freedom, observes Shyam G Menon.
Indirect emissions account for a major chunk of emissions by Indian IT firms. Business travel and commutation, together, are a key reason for it. If travel and daily commuting go down, so does carbon emissions.
IT and BPO service provider Hexaware Technologies has acquirea US-based IT firm Focusframe Inc in an all cash deal of $34.3 million.
HDFC Bank on Tuesday said the Reserve Bank of India (RBI) has appointed an external IT firm for carrying out a special audit of its IT infrastructure in the aftermath of repeated service outages at the country's largest private sector lender over the past two years. "RBI has appointed an external professional IT firm for carrying out a special audit of the entire IT infrastructure of the bank under Section 30 (1-B) of the Banking Regulation Act, 1949..., at the cost of the Bank under Section 30 (1-C) of the Act.
The Baahubali star is among the over 10 Tollywood (Telugu film industry) personalities including actors and directors, to be summoned by the ED.
That resulted in a 50-basis point improvement in operating profit margins on a sequential basis.
The market capitalisation of Tata Consultancy Services (TCS) on Wednesday breached the Rs 13.5 lakh crore mark -- the second company after Reliance Industries Ltd to achieve the feat. At close of trade, the market valuation of TCS stood at Rs 13,53,667.85 crore on BSE. The company had touched the Rs 13 lakh crore valuation level on August 17, when its market capitalisation (m-cap) stood at Rs 13,14,051.01 crore.
Bhutan on Thursday announced that it firmed up a "three-step roadmap" for expediting the negotiations with China to resolve the long-pending boundary dispute between the two countries, a development that India said it has taken note of.
IT services major Wipro on Friday said it will give wage hikes to junior employees with effect from September 1, 2021. "Wipro Limited will initiate merit salary increases (MSI) for all eligible employees up to Band B3 (assistant manager and below), effective September 1, 2021. "In January 2021, the company had announced salary hikes for eligible employees in these bands, who form 80 per cent of the company's workforce - this is the second hike in this calendar year," Wipro said in a statement. As announced earlier, all eligible employees above band C1 (managers and above) will receive pay hikes effective June 1, it added.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
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.
Net office leasing rose by 8 per cent to 5.85 million square feet in the July-September period of this calendar year across seven cities on better demand from corporates and coworking operators, according to JLL India. Property consultant JLL India attributed the rise in net absorption to various factors such as better awareness about coronavirus, preparedness along with mass vaccination drive and unlocking of economy has aided in the revival of the office market. Net absorption or leasing includes fresh leasing in completed buildings and pre-commitments in buildings that become operational during the time being reviewed, and excludes exits/terminations, churns, renewals, and pre-commitments in future supply.
Despite the rise in visa application fee and increasing pressure from the US to hire more locally, the number of H-1B and L-1 visa holders at most of the top Indian information technology firms are expected to increase further.
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