It Sector

Goldman Sachs sees Nifty at 27K in 2025, bets on housing, defence stocks

Analysts identified 16 'oversold' stocks, each down over 20%, including Trent, IndiGo, Shriram Finance, and Havells, suggesting they present strong buying opportunities

Stock Market Today: How to trade Nifty IT index post Accenture results?

Stock Market Today: The Nifty IT Index is facing mixed sentiments post the recent Accenture earnings, which might uplift IT stocks temporarily. However, a closer look at the charts suggests caution

Work on to assess AI, job loss from GenAI not intense in India: IT secy

He said under the IndiaAI mission, the government has tried to make a subtle distinction between responsible AI as defined by the West -- which is not expected to be regulated by the government -- and

Working to assess safety of AI; job loss not intense in India: IT Secy

The IT ministry is working on a mechanism to assess safety and trust elements in artificial intelligence (AI) solutions but does not want to start with a regulation as it may hurt innovation in the AI space, a top official said on Thursday. Speaking at CII's Global Economic Policy Forum, Ministry of Electronics and IT Secretary S Krishnan said the government has broadly addressed key regulations barring a couple of the issues like copyright and existential crisis. He said under the IndiaAI mission, the government has tried to make a subtle distinction between responsible AI as defined by the West -- which is not expected to be regulated by the government -- and safe and trusted AI. "Safe and trusted AI is when you do the innovation, try and be responsible about it but there would be an assessment. We will try and see that it is safe and trusted in a manner that works for everybody. That is the other space that we are working on right now. We don't want to start with regulation, and

'AI could replace CEOs': Shankar Sharma cautions IT sector to face reality

While the ace investor acknowledged that AI is still in its nascent stage, it is here like a 'foreign hand' conspiracy theory that has plans to 'snatch food away' from Indian youth's table

Premji Invest buys 1.6% stake in Wipro for Rs 4,757 crore via block deal

Private equity firm Premji Invest on Friday bought a 1.6 per cent stake in IT company Wipro for Rs 4,757 crore through an open market transaction. Billionaire Azim Premji's PE firm through its arm Prazim Trading and Investment Company Pvt Ltd acquired shares of Wipro through a block deal on the National Stock Exchange (NSE). As per the data, Prazim Trading and Investment Company purchased 8,49,54,128 shares, amounting to a 1.62 per cent stake in Bengaluru-based Wipro. The shares were picked up at an average price of Rs 560 apiece, taking the transaction value to Rs 4,757.43 crore. Meanwhile, Azim Premji promoted Prazim Traders sold over 4.49 crore shares of Wipro, while Zash Traders sold 4 crore shares of the company at the same price. Prazim and Zash Traders are the two promoter entities of Wipro. Shares of Wipro rose 0.92 per cent to close at Rs 568.60 apiece on the NSE.

IT shares buck trend; Wipro, Infy, TechM gain 2%; Coforge hits new high

At 12:23 pm; the Nifty IT index was the top gainer among sectoral indices, up 1 per cent, as compared to 0.31 per cent decline in the Nifty 50.

AP emerging as hub for startups, manufacturing, soon to have AI University

Andhra Pradesh offers a highly favorable environment for investments with investor-friendly policies, an extensive coastline, and well-developed road, water, and air connectivity, making it an ideal time for new industries to set up operations, according to Minister for Education, IT, and Electronics, Nara Lokesh. Minister Lokesh met with representatives of the US-India Business Council and Indiaspora. Speaking on the occasion, Lokesh emphasized that under the leadership of Chief Minister Chandrababu Naidu, Andhra Pradesh is rapidly progressing towards development. The state is set to become a hub for startups and manufacturing in the coming days, he said, adding an ecosystem conducive to industry growth is being developed, and the Economic Development Board has been revitalized to streamline approvals without delay. "As part of decentralized development, we have decided to promote the automobile sector in Anantapur, renewable energy in Kurnool, IT, pharmaceuticals, and medical ...

FY25 fresher hiring by IT sector to rise by 20-25%: TeamLease Digital

Hiring will be focused on specialized skills; TCS and HCLTech doubling their focus on hiring specialized skills

Coforge gains 2%, hits record high on Rs 19 per share interim dividend

The company has fixed October 11, as the record date to ascertain the eligibility of shareholders for the payment of the second interim dividend.

Accenture results: Worst behind for India IT; buy selectively, say analysts

Accenture share price: While a strong recovery in discretionary demand may take a few quarters, it is unlikely to worsen further, analysts said after Q4 results

Govt may allow more compute capacity based on requirement: IT secretary

The government may look at creating more "compute capacity" through viability gap funding after building high-tech capability under the Rs 10,372-crore India AI mission, Electronics and IT Secretary S Krishnan said on Thursday. Addressing a Deloitte India event, Krishnan said that India AI Mission has an outlay of about 10,372 crore of which more than Rs 4,500 crore is intended for compute capacity. "Later on, there is a possibility, and we will decide based on how much compute capacity actually gets created in the country. There is a possibility that we would actually support more compute capacity being created on the viability gap funding," Krishnan said. The government has invited bids for the empanelment of entities for providing artificial intelligence services on the cloud under the India AI mission. Under the IndiaAI Mission, supercomputing capacity, comprising over 10,000 GPUs, will be made available to various stakeholders for creating an artificial intelligence (AI) ...

HCLTech tops TIME's World's Best Companies 2024 list among Indian firms

Indian IT firm HCLTech has been named the no.1 India-headquartered company in TIME magazine's World's Best Companies 2024 list. The Noida-headquartered firm has also secured a place in the global top 10 list within the Professional Services category. "This accolade underscores HCLTech's commitment to excellence and innovation. It reinforces our leadership in the industry and our status as a top employer. "Aligned with our purpose of 'Supercharging Progress' and 'Find Your Spark' employee value proposition, we are dedicated to maximizing employee potential, advancing community and social responsibility initiatives and achieving sustainability goals," said Rahul Singh, Chief Operating Officer of Corporate Functions, HCLTech. The World's Best Companies 2024 ranking identifies top-performing companies across the globe on the parameters of employee satisfaction, revenue growth, and sustainability. HCLTech posted a consolidated net profit of Rs 4,257 crore in the June quarter of FY25, u

BFSI on hiring sprint, IT sector stumbles in headcount marathon in FY24

In comparison, BFSI firms hired 172,000 people on a net basis in 2022-23 (FY23), while IT services companies had a net recruitment of 131,000 employees

Uttar Pradesh govt plans Rs 33.5K crore boost to IT and ITeS hubs

A senior UP government official said the state has identified five cities viz. Noida, Lucknow, Kanpur, Varanasi, and Prayagraj (Allahabad) to develop such hubs

GCCs in India offer 12-20% higher tech salaries than IT services firms

Another 800 GCCs are expected in the next 5-6 years, boosting India's role as a global tech hub, with many in Tier-II cities like Kolkata, Ahmedabad, and Vadodara, promoting local employment

Cognizant clarifies fresher salary issue, says 'grossly misrepresented'

The IT firm faced significant online backlash over the internet for its low fresher salary offering, with many comparing it to 2002 levels

IT company TCS eyes 'Prime' campus talents with Rs 9-11 L offers

The need to secure such top talent is also driven by the fast-paced technological changes shaping the sector

Govt likely to extend import regime for laptops, IT hardware products

The system kicked in on November 1 to promote domestic manufacturing of these goods and reduce dependence, especially on China

Top-level exits continue in Wipro as CTO Subha Tatavarti steps down

In another high-level exit at IT major Wipro, its Chief Technology Officer Subha Tatavarti has resigned to pursue opportunities outside the company. Tatavarti joined Wipro in April 2021 as the technology head under the then-CEO and MD Thierry Delaporte. During her three-year stint, she led Wipro's GenAI initiatives and introduced Wipro ai360. "Subha Tatavarti, Chief Technology Officer, resigned from the services of the Company to pursue opportunities outside Wipro," a regulatory filing said on Monday. Before joining Wipro, she led different roles at Walmart and PayPal, among others. She was recognised in "Top 100 Executive Women in Tech to Watch" earlier this year by the WomenTech Network. "I am resigning from the post of CTO, Wipro, effective August 16th. Good luck with your journey," Tatavarti wrote in her resignation letter to Wipro CEO Srini Pallia. This is the fourth top-level exit in the last 4 months after Pallia joined the Bengaluru-based firm in April, following Delaporte