Page 2 - Indian It Sector

Nomura has high hopes from Infosys, Coforge ahead of Q1FY25 results

Given the bottoming out of revenue growth rate, analysts expect the earnings per share (EPS) downgrade cycle to come to an end for the sector

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

Persistent Systems shares jump 5% on Rs 10 dividend announcement

The surge in share price came on the back of a divided announcement, coupled with Accenture's Q3 performance, which met street expectations

Bank of Baroda, Yes Bank, GE Power among top stocks to track on June 21

As of 6:39 AM, GIFT Nifty futures showed a slight increase, trading 7 points higher at 23,589.5 from their previous close

MeitY to bring Digital by Design platform for DPDP implementation: Vaishnaw

The platform to be implemented jointly by Digital India Corporation and National Informatics Centre

Persistent up 2% on deal with Google Cloud to drive innovative solutions

The uptick in share price came after the IT major announced that it has entered into a long-term strategic partnership agreement with Google Cloud, to drive innovative solutions

Wipro share zooms 5% on inking $500 million deal, top gainer on BSE, NSE

The share was also the top gainer on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)

Tier-2 firms absorbed 8k professionals from Tier-1 players in past 2 years

Tier-2 companies added nearly 100 senior executives from Tier-1 firms over the past couple of years in a range of roles including presidents and vice-presidents

New Govt to build on tech accomplishments, more plans ahead: IT secretary

As the NDA is set to form government for a third term, tech initiatives are expected to maintain pace, with IT Secretary S Krishnan on Wednesday saying that Meity will take up a slew of new initiatives as planned, while building on the legacy of past successes and outcomes. Krishnan, speaking on the sidelines of a Software Technology Park of India (STPI) event, said the ministry has a "number of initiatives which have been planned and are in the works" and those will be taken up once the new government is in place. To a question on whether the work on Digital Personal Data Protection (DPDP) rules and shaping Digital India legislation framework will continue at speed, he said, "the legacy in terms of what we have in the organisation in terms of...institutional memory continues." Asked in particular about the status of the proposed Digital India legislation -- which would provide guardrails and define regulatory approach on new age technologies like AI - he said, "We will see how we .

Wipro appoints Bruno Schenk as country head, MD for Switzerland

IT major Wipro on Monday said it has appointed Bruno Schenk as the Country Head and Managing Director for Switzerland, with immediate effect. He will report to Wipro's Europe CEO Pierre Bruno. Schenk is taking over from Ren Mulder, who has decided to explore new opportunities beyond Wipro, the company said. Schenk was previously the CEO of Eviden Switzerland, an Atos business. "I extend a warm welcome to Schenk, and I look forward to the insights, energy and rigour he will bring to our clients and teams in Switzerland and as part of our Europe Leadership Team," said Pierre Bruno. "Ren and Schenk will work together closely over the coming weeks to ensure a smooth transition. I'd like to thank Ren for his leadership over the last four years, delivering outstanding value and innovation and for building a strong, client-focused team in the region," he said. In May, Wipro appointed Sarat Chand as regional head and managing director of its northern Europe region.

Ex-Wipro boss is highest-paid Indian IT CEO for second year straight

Thierry Delaporte earned $20 mn in FY24 and $10 mn the year before; he resigned last month

TCS' outlook improving after 2 years of recessionary fears: Chandrasekaran

GenAI will we have impact 'not previously seen or imagined', says IT company's chairman

IT sector to see second consecutive year of muted revenue growth: CRISIL

The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at USD 250 billion and it creates over 50 lakh direct jobs. "The slowdown in technology spend will continue this fiscal, weighing on the revenue growth of IT service providers," said Aditya Jhaver, director at Crisil. The industry is, however, expected to sustain in the key metric of profitability, as the operating profit margins will be stable at 22-23 per cent, the agency said, attributing it to prudent management of employee costs. Crisil said the sectoral revenues achieved a compounded annual growth rate of 12 per cent for the decade through FY24. High interest rates and economic slowdown in client mark

Spending in IT sector to hit $139 bn in 2024, growing at 13.2%: Gartner

The growth is expected in all major segments, including software, devices, IT services, and data centre systems

31% of women in tech considering quitting their jobs, shows survey

Poor management, lack of training and want for better compensation are the main reasons they want to leave their organisations

'Main goal complete with foundational elements', says outgoing Wipro CEO

IT company is seen as a 'transformation partner' by clients and is set for growth, says Thierry Delaporte in farewell email

Entry-level coders must specialise to minimise risk of job loss: Experts

India has seen 15-20% drop in entry-level tech jobs, potentially linked to AI automation

Wipro CEO Thierry Delaporte steps down, Srini Pallia takes charge

Delaporte will continue in his role until the end of May, working closely with incoming CEO Pallia and Wipro Chairman Rishad Premji

Infosys jumps 2% on hopes of Rs 6,329 cr tax refund

Over the weekend, Infosys received multiple orders from IT department with regards to tax demands and potential refund.

IT shares sink as Accenture cuts guidance; TCS, Infosys and HCLTech fall

FY25 outlook muted for the sector, say analysts