Technology major HCLTech, is expanding its global delivery footprint here with the launch of a new tech center that is expected to provide 5,000 additional jobs, officials said. The announcement came after the meeting of Chief Minister A Revanth Reddy and IT Minister D Sridhar Babu with the global CEO and Managing Director of HCLTech, C Vijayakumar, on the inaugural day of the World Economic Forum Annual Meeting here in Davos on Tuesday. The new center in an area of 3,20,000 sqft will be providing cutting-edge cloud, AI and digital transformation solutions to global clients across industries such as hi-tech, life sciences and financial services, an official press release said. "Hyderabad, with its world-class infrastructure and high-quality talent pool, has been a key location on HCLTech's global network. The new center will bring cutting edge capabilities to our global client base and contribute to the local technology ecosystem" Vijaykumar said. He invited the CM and IT Minister
According to Motilal Oswal Financial Services, Infosys and LTIMindtree, both companies with a high discretionary tilt, have provided a more cautious view on discretionary-spend recovery
Days after HCLTech said it has lowered reliance on H1B visas, Infosys on Thursday reported a significant decrease in its dependence on this visa category and exuded confidence in its "resilient" operational model. "Over the years, our dependence on H1B visas has reduced significantly. First and foremost, our onsite mix has reduced significantly -- we used to be in the 30 per cent range, (but) we are now at the 24 per cent range. Within that, our near shore has increased significantly. "Within the US-onsite population that we have, our H1 independent folks are now at 60 plus percentage. We have now built a pretty resilient model from that perspective. We are, therefore, much more confident from where we are versus where we used to be earlier," Infosys CFO Jayesh Sanghrajka said. On Monday, HCLTech said that around 80 per cent of its workforce in the US comprises local hires, making its dependence on H1B visas among "the lowest in the industry". "...If I look back over the last 4 odd
To improve its network performance Vi has partnered with HCL Software, the software business unit of HCL Technologies, to make its 4G and 5G networks smarter and more efficient
HCLTech declared a dividend of Rs 18 per share, including a special Rs 6 per share dividend to commemorate 25 years since its public listing, marking its 88th consecutive quarter of dividend payouts
In previous trading session, the Sensex plunged 1,048.90 points, or 1.36 per cent, to close at 76,330.01. Similarly, the Nifty50 dropped 345.55 points, or 1.47 per cent, ending the day at 23,085.95
The company's revenue from operations for the quarter under review came in at Rs 29,890 crore, 5.07 per cent higher than Rs 28,446 crore in Q3 FY24
The new regime in the US is unlikely to affect the business of Indian IT company HCLTech as it is very less dependent on H1B visas, a senior company executive said. "About 80 per cent of our people in the US are all locals, so our dependence on the H1B is one of the least in the industry. And it is not just now if I look back over the last 4 odd years, we have been pretty locally self-sufficient. "And that reflects in the number of H1Bs that we go through every year. It ranges between 500-1,000 in a year max...so it is minimal dependence," said Ramachandran Sundararajan, Chief People Officer, HCLTech. HCLTech on Monday reported a 5.54 per cent rise in consolidated net profit to Rs 4,591 crore for the December quarter. The H1B visa programme allows US companies to temporarily employ foreign workers in speciality occupations. Indian companies have been significant beneficiaries of this programme, particularly in the technology sector. Donald Trump's return to the presidency is expec
At 6:32 AM, GIFT Nifty futures indicate a gap-down opening for the markets, trading 160 points lower at 23,341
HCLTech's Q3FY25 performance is expected to reflect steady growth despite industry challenges such as furloughs and cross-currency headwinds
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Stock Market Today: Bears took the reins on the D-Street as 21 out of 30 constituent stocks of BSE Sensex ended in red, dragged by Bajaj Finance, Reliance Industries, and Tata Steel
At 6:33 AM, GIFT Nifty Futures were trading 30 points higher at 25,251, suggesting a higher start for Indian markets.
Stock Market Today: RIL reported a 4.8 per cent year-on-year decline in consolidated profit for Q2 FY25, totaling Rs 16,563 crore, and missing analyst expectations.
Revenue for the quarter at Rs 28,862 crore, up 8.2 per cent YoY and grew 2.9 per cent sequentially
Stock Market Today: Markets in India were likely to open with a slight upside on Monday, indicated GIFT Nifty futures, which were trading around 50 points ahead of Nifty futures last close.
At 6:41 AM, GIFT Nifty Futures indicated a modest increase of 53 points, reaching 25,102 levels, suggesting a tentative start for the Indian markets.
An employee of HCLTech died after suffering a cardiac arrest in the firm's office in Nagpur city, with the IT major sharing that he was provided emergency care at the campus clinic before being rushed to the hospital. According to the police, Nitin Edwin Michael (40), who worked as a senior analyst, was found unresponsive after he entered the washroom of the office of HCL Technologies Ltd. in the city's Mihan area around 7 pm on Friday. His colleagues rushed him to the All India Institute of Medical Sciences (AIIMS) in Nagpur where doctors pronounced him dead upon arrival, said the official from Sonegaon police station on Sunday. Police sent the body for post-mortem and registered a case of accidental death. Initial autopsy findings indicated Michael died of cardiac arrest, the official said, adding that they are probing the circumstances surrounding his death. Michael is survived by his wife and a six-year-old son, according to police. Calling Michael's death an unfortunate inci