Page 8 - Indian It Firms

Covid-19 crisis: Infosys charters a flight to get back staff stuck in US

Plans to deploy more such planes to bring back other employees

Indian IT firms may report 5-9% contraction in revenues for June quarter

Hospitality and travel, as well as manufacturing and retail, are the segments likely to see maximum hit

Indian IT services firms relying less on visas as approval rates nosedive

According to the US Citizenship and Immigration Services data, the share of Indian companies among the top 10 visa recipients has dropped from 51 per cent to 24 per cent during the 2016-19 period.

Visa suspension likely to cause minimal disruption for Indian IT firms

Recessionary environment, travel restriction to minimise the impact to a large extent

Galwan Valley clash: Indian IT services companies in wait-and-watch mode

Indian IT industry is one of the biggest Indian employers in China, with around 22,000 employees in the country, including locals as well as expatriates.

Infosys expects 35% of staff to work from home amid Covid-19 crisis

More than 90 per cent of staffers of most IT services firms are working from home. The companies are in no hurry to bring them back despite the relaxation in lockdown.

Covid-19 crisis: $30-billion deal renewal headache for IT companies

Outsourcing deals are either going to be renewed at a lower price or they will be delayed, say experts.

US-based Freshworks Inc announces strategic partnership with TCS

TCS will provide its global experience with extensive market presence and deep contextual knowledge of customer engagement, and digital offerings built on its Business 4.0 thought leadership framework

Covid-19 impact: Dividend payout by IT firms likely to dip further in FY21

Payout has fallen for most firms except TCS in FY20 as companies looked at conserving cash

India IT spending to dip 8% in 2020 amid Covid-19 pandemic, says Gartner

Gartner expects spending on devices and data centre systems in India to see their steepest declines in 2020, at -15.1 per cent and -13.2 per cent, respectively.

Wipro's outgoing CEO Abidali Neemuchwala sees 12% rise in pay package

In comparison, Infosys' CEO Salil Parekh drew a pay package of $6.15 million (around Rs 40 crore) in the last financial year, a rise of 27 per cent over the previous fiscal.

Covid-19 crisis: Wipro sees short-term impact on gross profit margin

In a filing with the US Securities and Exchange Commission, the Bengaluru-headquartered firm, however, said that the impact couldn't be accurately predicted as the pandemic is yet to recede.

IT firms to face heat as global enterprises put digital projects on hold

Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue generating ventures

Rising bankruptcies among global retailers to hurt Indian IT firms

Retail majors JC Penney, Neiman Marcus and Aldo Group collectively owe $8.7 million to TCS, say bankruptcy filings

No layoffs, but will take steps to cut costs, says L&T Infotech's Jalona

We are not looking at any layoffs at present, but we are looking at all ways and means to protect profits and save money to minimise the revenue impact, say Jalona

L&T Infotech's consolidated net profit rises 13% YoY to Rs 427.5 cr in Q4

Revenue of the Mumbai-headquartered IT services firm rose 21.2 per cent year-on-year to Rs 3,011.9 crore during this period.

Logging in with facemasks: Offices look different as staff returns to work

Office life in these cities resumed on Monday, albeit cautiously and with full knowledge of the need to maintain social distancing.

Covid-19 crisis: IT services companies pad up to reopen offices for staff

Apart from issuing guidelines for employees with dos and don'ts, the companies are using technology-led solutions to ensure social distancing at workplaces.

IT firms form teams to chase revenue streams emerging from Covid-19 crisis

Industry observers said the high level of virtualisation across most sectors has led to increased demand for various IT services.

After Covid-19, clients will look at WFH issues: HCL Tech's C Vijayakumar

C Vijayakumar, president and chief executive officer of HCL Tech, tells Neha Alawadhi that though demand has fallen in some sectors, others continue to be strong.