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Indian It Firms

Indian-origin tech companies corner 1/5th of H1B visas issued by US

Indian-origin tech companies cornered a fifth of all H1B 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 H1B visas issued to different employers, about 24,766 visas were issued to Indian-origin companies. Out of these, Infosys took the lead with 8,140 beneficiaries, followed by TCS (5,274), and HCL America (2,953). Infosys came second to only Amazon Com Services LLC, which topped with 9,265 visas. Cognizant, which was founded in Chennai but now has headquarters in New Jersey, ranked third in the list with 6,321 visas. The H1B visa programme allows US companies to temporarily employ foreign workers in specialty occupations. Indian companies have been significant beneficiaries of this programme, particularly in the technology sector. Major Indian IT services fi

Indian-origin tech companies corner 1/5th of H1B visas issued by US
Updated On : 05 Jan 2025 | 1:18 PM IST

Indian IT sector 'bytes' into 2025 with cautious optimism amid big AI bets

The Indian IT industry steps into 2025 with hope and optimism of improved tech spending and stronger deal pipeline as businesses across-the-board take bold AI bets, but all eyes are on global macroeconomic cues as well as the US' stance on trade and high-skilled immigration as President-elect Donald Trump returns to White House next month. With Q2 report card of most IT heavyweights fuelling hopes of an improved client demand over the coming quarters - industry pundits predict a notable rebound in growth and profitability metrics materialising by late 2025 or the second half of FY26, if all goes well. Experts also expect tech M&A counters to buzz right through 2025, with big data, cloud and Gen AI (Generative AI) acting as major draws for companies with takeover appetites. Meanwhile, the IPO market - heady from 2024 highs - seems all primed up for yet another blockbuster year as a slew of tech startups are readying for a market debut to capitalise on euphoria. Sindhu Gangadharan, .

Indian IT sector 'bytes' into 2025 with cautious optimism amid big AI bets
Updated On : 30 Dec 2024 | 10:23 AM IST

Indian IT sector 'bytes' into 2025 with cautious optimism amid big AI bets

The Indian IT industry steps into 2025 with hope and optimism of improved tech spending and stronger deal pipeline as businesses across-the-board take bold AI bets, but all eyes are on global macroeconomic cues as well as the US' stance on trade and high-skilled immigration as President-elect Donald Trump returns to White House next month. With Q2 report card of most IT heavyweights fuelling hopes of an improved client demand over the coming quarters - industry pundits predict a notable rebound in growth and profitability metrics materialising by late 2025 or the second half of FY26, if all goes well. Experts also expect tech M&A counters to buzz right through 2025, with big data, cloud and Gen AI (Generative AI) acting as major draws for companies with takeover appetites. Meanwhile, the IPO market - heady from 2024 highs - seems all primed up for yet another blockbuster year as a slew of tech startups are readying for a market debut to capitalise on euphoria. Sindhu Gangadharan, .

Indian IT sector 'bytes' into 2025 with cautious optimism amid big AI bets
Updated On : 30 Dec 2024 | 10:23 AM IST

Wipro brings in new Europe head Omkar Nisal to revive market amid slowdown

Europe, despite being Wipro's second-largest market after the United States, has been underperforming in recent years

Wipro brings in new Europe head Omkar Nisal to revive market amid slowdown
Updated On : 27 Nov 2024 | 11:19 AM IST

Rapido cuts losses from Rs 675 cr to Rs 370 cr in FY24, revenue rises 46%

Ride-hailing platform Rapido has reported narrowing of losses to Rs 370 crore in FY24 from Rs 675 crore a year earlier. This is the third consecutive year the Bengaluru-based unicorn has posted a loss. It incurred a loss of Rs 440 crore in FY22, the company said in a statement. The company's revenue came in at Rs 648 crore in FY24, up 46.3 per cent from Rs 443 crore in FY23. "Last year's performance is underscored by a ~2x increase in Gross Order Value (GOV), which soared to Rs 4,257 crore in FY24 from Rs 2,419 crore in FY23, further demonstrating the platform's expanding market presence. This growth was fuelled by a 1.5x rise in ride orders, reaching nearly half a billion rides in FY24, underscoring Rapido's increasing appeal among India's vast commuter base," the statement said. In the July-September period of FY25, Rapido shrunk losses to Rs 17 crore from Rs 74 crore a year ago. The company reported a 2.5 times year-on-year growth in gross order value (GOV) to Rs 2,461 crore du

Rapido cuts losses from Rs 675 cr to Rs 370 cr in FY24, revenue rises 46%
Updated On : 15 Nov 2024 | 5:21 PM IST

Tech Mahindra boosts workforce by 6,653 in Q2, headcount climbs to 154,273

As of September, Tech Mahindra's employee count rose to 154,273 from 147,620 last quarter, while attrition slightly increased to 10.6 per cent, with IT attrition at 11 per cent

Tech Mahindra boosts workforce by 6,653 in Q2, headcount climbs to 154,273
Updated On : 23 Oct 2024 | 1:18 PM IST

IT shares in demand; Coforge up 6% as Motilal Oswal upgrades stock to 'Buy'

The IT sector is on the cusp of a mild but possibly sustained recovery in client spending, and the impending rate cut cycle should add to the sector tailwinds, according to MOFSL.

IT shares in demand; Coforge up 6% as Motilal Oswal upgrades stock to 'Buy'
Updated On : 10 Sep 2024 | 2:51 PM IST

Analysts expect turnaround for IT firms with growth recovery, higher margin

While revenue growth for the companies represented in Nifty IT Index could be at an annual rate of 8.5 per cent over FY24-27

Analysts expect turnaround for IT firms with growth recovery, higher margin
Updated On : 09 Sep 2024 | 10:40 PM IST

IT firm Ahead opens new office in Hyderabad, set to hire 500 staff by 2025

IT company Ahead has launched its new office in Hyderabad, where it plans to onboard 500 people by 2025, the company said on Thursday. It has already set up a delivery office in Gurugram last year, where it has 400 employees. "We are thrilled to announce our expansion into Hyderabad, a city renowned for its dynamic tech ecosystem and exceptional talent pool. "The talent pool located in Hyderabad complements our existing talent base in North India, enabling AHEAD to better meet client needs, especially on larger services engagements," Ahead India, Vice President and Managing Director Praveen Grover said in a statement. The company plans to increase its headcount to 750 this year and complete the hiring of 500 employees in Hyderabad by the end of 2025, Grover said. "By the end of next year, Ahead aims to hire over 500 employees in Hyderabad, leveraging the city's rich pool of skilled professionals and its growing reputation as India's premier IT hub. This strategic move is part of .

IT firm Ahead opens new office in Hyderabad, set to hire 500 staff by 2025
Updated On : 22 Aug 2024 | 9:24 PM IST

Wipro extends relationship with John Lewis Partnership for 4 years

As part of this engagement, Wipro FullStride Cloud will extend JLP's current cloud infrastructure, network, and end-user services for another four years

Wipro extends relationship with John Lewis Partnership for 4 years
Updated On : 22 Aug 2024 | 6:53 PM IST

Indian IT firms cautiously advance GenAI projects, facing scaling hurdles

Despite the hype, top IT firms and analysts caution over slow adoption and high abandonment risks in generative AI projects

Indian IT firms cautiously advance GenAI projects, facing scaling hurdles
Updated On : 31 Jul 2024 | 4:24 PM IST

Q1 result review: Outlook positive for IT companies, challenges persist

Weakness in demand evident, discretionary spends similar: IT majors

Q1 result review: Outlook positive for IT companies, challenges persist
Updated On : 21 Jul 2024 | 11:11 PM IST

Wipro plans to hire 10,000-12,000 freshers from campuses in FY25

Wipro joins other large IT services firms, which also announced plans to visit engineering campuses to hire freshers, as utilisation hits an all-time high and demand in some biz shows improvement

Wipro plans to hire 10,000-12,000 freshers from campuses in FY25
Updated On : 19 Jul 2024 | 11:02 PM IST

IT firm TCS adds over 5,000 employees in the first quarter of FY25

For the financial year 2023-24, TCS had reported a total headcount decline of 13,249 compared to FY23

IT firm TCS adds over 5,000 employees in the first quarter of FY25
Updated On : 16 Jul 2024 | 10:29 PM IST

GenAI does not move the needle in terms of budget: TCS MD & CEO Krithivasan

He talks about why he is hesitant to call out on growth, emerging markets driving growth, GenAI projects and other

GenAI does not move the needle in terms of budget: TCS MD & CEO Krithivasan
Updated On : 15 Jul 2024 | 6:10 AM IST

HCLTech's Roshni Nadar Malhotra conferred highest civilian award of France

Instituted in 1802 by Napoleon Bonaparte, the Chevalier de la Legion d'Honneur is the highest civilian award given by the French Republic for outstanding service to France

HCLTech's Roshni Nadar Malhotra conferred highest civilian award of France
Updated On : 08 Jul 2024 | 5:09 PM IST

IT services firm HCLTech launches its first global delivery centre in Bihar

Going forward, the centre will house specialised labs and centres of excellence to boost HCLTech's technology innovation and will offer a wide range of services to global clients, said the company

IT services firm HCLTech launches its first global delivery centre in Bihar
Updated On : 02 Jul 2024 | 7:57 PM IST

Accenture Q3 results: Demand slowdown in Indian IT bottoming, say analysts

What Accenture results mean for Indian IT: Analysts believe FY25 Street estimates for Indian IT companies have been adequately rationalised, implying little downgrade risk from current levels

Accenture Q3 results: Demand slowdown in Indian IT bottoming, say analysts
Updated On : 22 Jun 2024 | 12:37 AM IST

IT firms grapple with new anti-dumping duty on PCBS under PLI scheme

Mobile phone manufacturers are exempt from this duty, whereas more complex PCB designs are also spared

IT firms grapple with new anti-dumping duty on PCBS under PLI scheme
Updated On : 19 Jun 2024 | 10:50 AM IST

AI app evaluation platform Maxim AI raises $3 mn led by Elevation Capital

Maxim's infrastructure, which sits between the foundational model and application layers of the AI stack, is deeply focused on AI developers who comprise the traditional AI/ML engineers

AI app evaluation platform Maxim AI raises $3 mn led by Elevation Capital
Updated On : 18 Jun 2024 | 8:53 PM IST