As enterprises halt ongoing projects or cancel them, all staffers working on such projects are placed on the bench. In some cases, IT firms have to reduce billable staffers in a project as clients ask for scaling down support, leading to rise in reserved employees.
TCS has been Three UK's partner for 15 years, working with a variety of business units and has been instrumental in supporting the company's ambition of becoming the world's first telco to host all its applications entirely on the public cloud.
Its revenue grew 8.5 per cent to Rs 23,665 crore in the quarter under review from Rs 21,803 crore in the corresponding period last fiscal.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
Earnings growth in the early-bird sample has been driven by banks and iron & steel companies.
Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year.
Total income of Wipro was almost flat at Rs 15,571.4 crore at the end of the first quarter of 2020-21 compared to Rs 15,566.6 crore in the corresponding quarter of the fiscal year 2019-20.
Most Indian IT firms work as system integrators for Huawei and though the exposure is very less as of now, the potential is more due to 5G roll out. As pressure to keep the Chinese firm out of the 5G network grows, other global firms, including Japan's NEC, South Korea's Samsung, Finland's Nokia and Sweden's Ericssion are increasing their investments to grab more market share in the telecom sector.
Its order also includes a direction for the channel to broadcast a statement of Ofcom's findings on a date and in a form to be determined by the watchdog and also for KTV not to repeat the music video or the discussion programme found in breach of its rules.
Should we be exposing our women volunteers to the barbarity of actual combat?
While discretionary spend by global enterprises is likely to negatively impact all Indian IT firms, more revenues from products and less exposure to financial services segment are likely to lessen the impact for HCL Technologies and Tech Mahindra.
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.
The tech giant said it is unable to provide revenue outlook for FY 21 due to business uncertainty amid COVID-19 outbreak.
BSNL will start providing telecom services, both wireless and fixed line, in Mumbai and Delhi on behalf of MTNL from January 1 on a pilot basis for five to six months.
WhatsApp will not delete any account for not accepting its new privacy update, but users not agreeing to the controversial terms after "several weeks" will not be able to access their chat list, and eventually, will not be able to answer incoming phone or video calls over the app.
To land a job in a competitive field, graduates must go beyond the obvious and prepare extensively, adbises Vijay Gupta, director-global human resources, Rahi Sytems, a global IT services and solutions company.
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
In gifting the submarine to Myanmar, India is competing with China for influence in the region.
The ministry has taken a strong position on the matter, and made it clear that it is not just problematic but also "irresponsible" for the messaging platform to leverage its position to impose "unfair" terms and conditions on Indian users, when many depend on WhatsApp to communicate in everyday life, according to the sources.
Wipro Ventures is currently managed by Biplab Adhya and Venu Pemmaraju and has so far invested in 16 early to mid-stage start-ups. While 11 of these start-ups are in the US, four are in lsrael and one in lndia.
The company said it will target experienced technology professionals as well as recent graduates from major universities, liberal arts colleges, and community colleges to create the best workforce for the future.
The number of active cases remained below 5 lakh for the second consecutive day.
Canada and Mexico emerge as preferred destinations to service clients in the US; east Europe and Nordic nations are favoured alternatives
The annual meet also saw some shareholders of the country's second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions.
The company is also looking at creating an algorithm-based talent marketplace and an internal gig workers' community. Talent Cloud will be powered by Algo Talent Development, enabling associates to move across different technologies and industry domains.
The IT industry advisories show that they think they've weathered the worst, observes Devangshu Datta.
The Delhi Police on Thursday said the statements by Twitter on the ongoing enquiry in the 'toolkit' case was mendacious and designed to impede the lawful enquiry.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
The recovery in the Indian services sector was sustained in November as new work orders supported business activity growth and the first rise in employment in nine months, a monthly survey said on Thursday.
Such partnership will not only give the company an opportunity to showcase its expertise in new technology areas, they will also help in boosting its brand image with clients and employees
Global Times, the Chinese Communist Party government's mouthpiece, said that the broadcaster is responsible "for falsified reporting" on China's handling of the coronavirus in the country.
"Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter," Wipro CEO and executive director Abidali Z Neemuchwala said.
Currently, TCS is India's second most valuable firm after Reliance Industries, which has a market cap of nearly Rs 12.9 trillion.
Even at the entry-level, professionals who have proficiency in emerging technologies will have an edge over others in these domains.
IT services major Wipro on Friday said it has appointed Capgemini group veteran Thierry Delaporte as its chief executive officer and managing director, effective July 6, 2020. In January this year, the company had said its CEO and Managing Director Abidali Z Neemuchwala had decided to step down from the company. Abidali Neemuchwala will relinquish his position as CEO and MD on June 1.
'With nearly double the market share of our nearest competitor, we are shaping the digital transformation journey of close to 1,000 clients in India.'
The ministry of electronics and information technology has directed WhatsApp to withdraw its new privacy policy, according to sources. The IT ministry believes that the changes to WhatsApp privacy policy and the manner of introducing the said changes undermines the sacrosanct values of informational privacy, data security and user choice and harms the rights and interests of Indian citizens, government sources said. The government has given seven days to WhatsApp to respond to the notice and if no satisfactory response is received, necessary steps in consonance with law will be taken, sources informed. In a communication to WhatsApp on May 18, the ministry has once again told the messaging platform to withdraw its privacy policy 2021, they said.
"...Chief Executive Officer and Managing Director Abidali Z Neemuchwala has decided to step down due to family commitments," the BSE filing said. The board of directors has also initiated a search to identify the next chief executive officer, it added.
It said the company had tweaked leave accumulation only up to Q2 (FY21) end, and only as an interim measure.
