Stock market crash: TCS sheds $21 billion in market capitalisation, Infosys $7 billion and Wipro around $3 billion
Having spent the first 90 days meeting employees and key clients, Jeya Kumar, new CEO of Patni Computer Systems, is clearly in control. While he acknowledges concerns due to the current slowdown, he has started restructuring the company. He details the growth plans in a chat with Business Standard's Shivani Shinde.
Rule will hit 1,000 firms that moved jobs to India, elsewhere. Total jobs abroad pegged at 3 million.
With clients increasingly looking at cost optimisation by passing on the risks to the IT vendors and IT services players demanding longer tenure deals to hedge their risks, a mix of these two factors are giving rise to large deals coming up in the market with a lot of strings attached.
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
Internal documents at Facebook show "a struggle with misinformation, hate speech and celebrations of violence" in India, the company's biggest market, with researchers at the social media giant pointing out that there are groups and pages "replete with inflammatory and misleading anti-Muslim content" on its platform, US media reports have said.
Punjab's Deputy Chief Minister Sukhjinder Singh Randhawa has said a probe would be carried out to ascertain whether Aroosa Alam, a Pakistani journalist who has been visiting former chief minister Amarinder Singh for several years, has links with the ISI.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
It was decided to cut 75 per cent of salaries of the chief minister, ministers, MLAs, MLCs, chairmen of various corporations and local public representatives, an official release said. There will be a pay cut of 60 per cent in AIS officers such as IAS, IPS and IFS while it will be 50 per cent in state government employees.
The pace of job generation has slowed as IT firms look at automation to do testing
HR Guru Mayank Rautela offers practical advice.
Ford Motor Company expects its sourcing of components from India to double or even treble in the next few years, a top official of the company's Indian subsidiary said on Wednesday.\n\n\n\n
The DMK, AIADMK, PMK, BJP gear up for next May's assembly elections.
Experts said this would not only reduce Infosys' dependence on the H1B visa, which has seen increased restrictions under the current US administration. It will also help the company in building an employee pyramid for its future operations.
Its production declined for the third consecutive year in financial year 2020-21 (FY21) to an 11-year low, while sales volume contracted for the second year to the lowest since FY15. The company manufactured around 1.08 million vehicles last fiscal, a decline from 1.17 million the previous year, and a steeper fall from its all-time high tally of 1.62 million reported in FY18.
Leading Australian banks, including ANZ and St. George, are planning to send their back office jobs to India.
'Section 153A is not meant to protect fragile sentiments of the majority Hindu community who choose to get offended by slogans celebrating the success of the Pakistani cricket team.'
Demand for digital technologies and resumption of normal economic activities will drive sales for IT companies, and the sector will post a revenue growth of up to 9 per cent in 2021-22, a report said on Thursday. Rating agency Icra gave a "stable" outlook for the sector, whose size is pegged at over $180 billion by industry lobby Nasscom, including the business process outsourcing business. The IT services sector's revenues will rise between 7-9 per cent in rupee terms and between 5-8 per cent in dollar terms in 2021-22, it estimated.
Researches reveal that many firms that employ H-1B workers directly, including some of the biggest names in the technology industry such as Amazon, Google, Microsoft, Apple, Qualcomm, Salesforce and Uber, pay a large share of their H-1B workers at one of the two lowest wage levels, Level 1 or Level 2.
Vaccine major Bharat Biotech on Wednesday said its COVID-19 vaccine, Covaxin, has demonstrated an interim vaccine efficacy of 81 per cent in the Phase 3 clinical trials.
Known for its phones and emerging from nowhere in the segment, it might take on the scooter Goliaths.
Companies in the small-cap universe are having a dream run - the Nifty Smallcap 100 index has shot up more than 25 per cent on a year-to-date basis, even as the benchmark Nifty is up 7 per cent. This is the best start for the index since 2017 when the Nifty Smallcap 100 index surged 32.3 per cent between January 1 and May 10. However, in terms of outperformance to the Nifty, this year's performance is the best in more than a decade. A combination of sectoral tailwinds and lack of institutional selling pressure has helped small companies escape from the correction triggered by the second wave of Covid-19.
In a three-page letter to Facebook Chief Executive Zuckerberg, Prasad alleged "bias and inaction" by individuals in Facebook India team on complaints by people supportive of right-of-centre ideology.
With globalisation, the demand of third party logistics business, a western concept, is catching up in the country as Indian firms 'which are eager to expand in new markets' are turning towards it for better management of their supply chain processes, the chamber said. 3PL cuts conventional logistics costs and helps tackle more complicated tasks, he said. Currently, the size of the business is estimated at $58 million.
Tech giant Apple on Monday said it is undertaking a detailed investigation following the violent incident at its supplier Wistron's Narasapura facility in Karnataka last week.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
Air India, which is operating flights to evacuate Indians stranded in foreign countries, have asked its pilots to undertake coronavirus test before they operate such flights.
To be able to manage any such uptick, Indian IT services players are hiring more locals, and relying on hybrid work models.
'Anyone can come and anyone can go.' 'There is no ideology or vision that differentiates one party from another.'
EPF allows partial withdrawal to meet situations like house construction, medical emergency, and so on.
To help 2G customers who have to buy a new phone to upgrade to 4G, the company had earlier introduced 4G feature phones, to make it affordable for them to make the switch.
'The Congress is trying to cover up their anti-incumbency by highlighting the Dalit CM factor.'
5,565 contracts, valued at $201 billion are up for rebids across geographies and verticals by 2018.
A candidate with good communication skills, critical thinking and problem solving abilities will have a higher chance of being hired.
The US intends first to cripple the Afghan government financially through sanctions, freezing of assets, denial of access to international banking, etc, and then proceed to do pretty much what it wants to do with scant regard for Afghanistan's sovereignty, predicts Ambassador M K Bhadrakumar.
Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
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