Entry level engineers for these roles can be paid between Rs 4 lakh to Rs 8 lakh annually, which can go beyond Rs 30 lakhs for people with more than eight years of experience.
United States, the largest market for the $282 billion Indian IT sector, is a "wild card" for the industry, lobby grouping Nasssom's president Rajesh Nambiar said on Monday. Speaking to reporters Nambiar said the tariff threats by the US may turn out to be the biggest headwind for the sector. "Broadly, if you were to look at the headwinds, the biggest unknown there would be the tariffs and the impact of what happens in the US market," Nambiar said.
'What is working is quality management, great teams, engineers, platforms, and highly differentiated services.'
IT services firms' revenue growth in the fourth quarter will be affected by macro-driven headwinds, lower working-days, and the fact of the three-month period being low season. Analysts are expecting FY24 growth to be muted. Revenue growth will decline 600-700 basis points to 10-12 per cent for FY24, said a CRISIL Ratings report. The 10-12 per cent growth rate is a fall from the 18-20 per cent expected in FY23 and around 19 per cent growth in FY22, the highest in eight years, said the CRISIL Ratings report.
IT services company Wipro on Friday reported a 24.4 per cent year-on-year rise in its consolidated net profit for the just-ended December quarter at about Rs 3,354 crore. The Bengaluru-based tech major saw its revenue from operations inch up by 0.5 per cent to about Rs 22,319 crore.
Corporate India's struggle with subdued revenue and earnings growth persisted in the October-December quarter of 2024-25 (Q3FY25). The combined net sales (gross interest earnings for lenders) of listed companies grew in single digits for the seventh consecutive quarter, while their combined net profit rose by a single digit for the third straight quarter.
'The launch of Nila, our very first satellite was very emotional as well as nerve wracking. We tried to calm ourselves by cracking some poor jokes!'
India's largest IT services company TCS on Thursday reported an 11.95 per cent jump in net profit at Rs 12,380 crore in the December quarter while the overall workforce reduced by over 5,000 employees. The Tata Group company had reported a net profit of Rs 11,058 crore in the year-ago period, and Rs 11,909 crore in the preceding September quarter. The company's revenue grew 5.6 per cent to Rs 63,973 crore as against Rs 60,583 crore a year earlier.
'The choice is clear: We either embrace this transformation and cement our global leadership, or hesitate, lose ground, and fade into irrelevance.'
The Indian IT services industry is expected to clock revenue growth in the mid-single digit for the financial year 2024-2025 (FY25), according to a report by Icra for the year.
Information technology (IT) stocks ended at their lowest in nearly nine months after a fresh bout of selling, triggered by concerns over a recession in the US, the key market for domestic software exporters. A report by Morgan Stanley citing risks to growth also weighed on sentiment.
Only Mukesh Ambani and Gautam Adani are ahead of her.
IT services company Infosys on Wednesday said it did not use force or intimidation tactics when it laid off trainees at Mysuru campus over performance-related issues, and that it was explaining the circumstances to the labour department authorities. In an interview to PTI, Shaji Mathew, chief human resources officer at Infosys, however, conceded that assessment failure percentages this time around have been "slightly higher" than in the past but dismissed charges that the tests had been designed for failure.
Dhoom Dhaam is a medley of midnight shenanigans that oscillate between jumbled screenplay and out-of-place crusading, notes Sukanya Verma.
Zomato emerged as the biggest gainer, followed by Reliance, Nestle, Asian Paints and Power Grid.
TikTok credited Trump's intervention for providing "clarity and assurance" to its service providers, enabling the app's rapid return.
'Our phones are taken away as we enter the room.' 'They are just asking us to sign without any discussion. If you ask for a discussion, they say, 'Sign first'.'
From the 30-share blue-chip pack, IndusInd Bank, NTPC, UltraTech Cement, Sun Pharma, Axis Bank, State Bank of India, Tata Steel, Power Grid, Adani Ports and Kotak Mahindra Bank were among the major laggards. Tata Consultancy Services jumped nearly 6 per cent after the IT services company reported an 11.95 per cent jump in the December quarter net profit to Rs 12,380 crore. Tech Mahindra, HCL Tech, Infosys and Bajaj Finserv were the other big gainers.
US President Donald Trump has signed an executive order extending the operations of TikTok, the Chinese-controlled video-sharing platform, by 75 days. Trump intends to pursue a resolution that protects national security while preserving the platform used by 170 million Americans. The order instructs the attorney general to refrain from enforcing a law that would have forced TikTok's parent company ByteDance to divest from the app or face a ban from US app stores. Trump cited the national security concerns posed by TikTok and the need to review sensitive intelligence related to these concerns. He also emphasized the importance of finding a resolution that protects national security without abruptly shutting down the platform.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Most global as well as domestic brokerages are upbeat on India's largest IT services provider, Tata Consultancy Services (TCS), despite its performance during the December quarter of FY25, when it missed Street estimates. On the bourses, the TCS share price rallied as much as 6.44 per cent to hit an intraday high of Rs 4,296.80 apiece, before settling 5.67 per cent higher at Rs 4,265.55.
Fitch Ratings on Monday said India's steady GDP growth outlook, improved banking sector's financial health and expected interest-rate cuts in 2025 will support credit access for corporates in FY26.
Indian-origin tech companies cornered a fifth of all H-1B visas issued by the US with Infosys and Tata Consultancy Services leading the pack, an analysis of data from the US immigration department showed. According to data from the US Citizenship and Immigration Services, in April-September 2024 period, out of the total 1.3 lakh H-1B visas issued to different employers, about 24,766 visas were issued to Indian-origin companies.
'As the global economy undergoes significant transformations in 2025, India's ability to navigate the complexities of trade wars, financial realignments, and emerging blocs will be pivotal,' explain Harsh V Pant and Soumya Bhowmik.
India is among the three least-favoured Asian stock markets, according to BofA Securities whose survey found that 10 per cent of fund managers are underweight on Indian equities from a 12-month perspective.
The average Indian works 46.7 hours per week, surpassing even China's 46.1 hours. In some sectors, the numbers are even more staggering.
Indian IT hiring landscape is at a pivotal juncture as it transitions from a year of decline towards a more hopeful future. The focus on specialised skills, particularly in AI and data science, combined with geographical shifts towards Tier 2 cities, indicates a transformation within the sector.
TikTok's app effectively shut down in the US, just hours before a law banning the popular video-sharing platform was set to go into effect. The app was shut down on Saturday, displaying a message that the app "isn't available right now," but expects resolution under President-elect Trump. The Supreme Court on Friday unanimously upheld the divest-or-ban law, which gave TikTok's China-based parent company ByteDance until Sunday to divest from the app. President Trump said Saturday that he would most likely give TikTok a 90-day extension. Following Friday's Supreme Court decision, TikTok CEO Shou Zi Chew thanked the president-elect for his commitment to finding a solution to keep the app accessible in the US.
IT services major Infosys on Thursday reported 11.46 per cent increase in consolidated net profit at Rs 6,806 crore for December quarter FY25 and raised its guidance on the back of growth in financial services and manufacturing. The company had logged a profit of Rs 6,106 crore in the corresponding period of the previous fiscal.
Chinese smartphone maker OnePlus on Thursday said it plans to invest up to Rs 6,000 crore in its India business over the next three years. The company plans to make the investment in tranches of Rs 2,000 crore annually for the next three years under 'Project Starlight'. OnePlus on Thursday announced an annual investment of Rs 2,000 crore over the next three years to accelerate innovations in products and services in India.
Bharti Airtel is expected to see its highest revenue growth, and subscriber addition during the third quarter (October-December) of FY25 among telcos, said analysts. The telco's top line in Q3 may see the fastest sequential growth at 5 per cent compared to 3 per cent for Reliance Jio and Vodafone Idea (Vi). Airtel's annual mobile revenue growth would rise to 16 per cent, IIFL Capital said in an analyst note.
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.
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
The performance of banking and information technology (IT) stocks has had a significant impact on the composition of diversified mutual fund (MF) portfolios. Over the past two months, these sectors have become increasingly dominant, now constituting nearly 30 per cent of the total allocation in many diversified MF portfolios.
Wipro on Friday revised upwards its IT services revenue outlook to 8-10 per cent sequential growth in the June 2021 quarter, following the completion of its $1.45 billion buyout of Capco. While announcing its March quarter results earlier this month, Wipro had said it expects to log a sequential growth of 2-4 per cent in its IT services revenues in the June 2021 quarter without including revenue from Capco and Ampion acquisitions. In March, Wipro had announced the acquisition of London-headquartered Capco in a $1.45 billion (over Rs 10,500 crore) deal - its largest ever till date.
Accenture's Q1 FY22 results have sent a wave of cheer among analysts, as the company raised its revenue guidance and said it expects double-digit growth in outsourcing, up from single digit to low double-digit growth expected earlier. Accenture's financial year ends on August 31. The company raised its revenue outlook for FY22 to 19-22 per cent in local currency, up from 12-15 per cent earlier.
If it becomes a reality, the Chennai-based company will become the first private player from India to conduct such a mission to the lunar surface.
'There is definitely a skill war, or a talent war going on.'
At a time when banks are finding it challenging to mobilise resources, State Bank of India (SBI)-the country's largest lender-has devised a three-pronged strategy to boost deposit accretion. First is an aspirational product that promises to make depositors lakhpatis by helping them grow their deposits to Rs 1 lakh through recurring deposit (RD) schemes.
Cyclone Fengal expected to make landfall near Puducherry.
