Page 5 - It Service

Weak outlook

Growth in the IT sector will remain muted

Waning demand for IT services hits hiring at majors Indian tech companies

Tata Consultancy Services, Infosys and HCLTech have seen employee headcount reducing in the second quarter as they reported weak results

Q2 results: HCLTech net beats estimates, but FY24 growth forecast cut

The company reported its net new bookings in the quarter at an all-time high of $3.96 billion in total contract value (TCV)

Caution: Campus hiring by Indian IT services giants is in the slow lane

The management of the companies said that excessive hiring in the last few years has meant recalibration of employees as growth dipped

Infosys signs $1.5 billion contract with global client for 15 years

In July, Infosys announced a $2 billion deal with an existing strategic client without naming the client

Infosys Completes acquisition of Danske Bank's IT Centre in India

Headquartered in Denmark, Danske Bank provides banking services to personal and business customers, as well as to large corporate and institutional customers

TCS undergoes rejig, creates a business unit focused on AI, Cloud

The rejig goes back to vertical focus, and will encompass the earlier rejig done by Rajesh Gopinathan

Persistent Systems records 8.1% rise in Q1 net profit at Rs 228 crore

The order booking for the quarter stood at $380.3 million in Total Contract Value (TCV) and at $271.9 million in Annual Contract Value (ACV) terms

TCS will take strong action against staff over ethics breach: Chandra

TCS bans six employees, six staffing firms in hiring scam

Infosys to provide certification in AI, generative AI skills on Springboard

IT services company Infosys on Thursday announced it has launched a free Artificial Intelligence (AI) certification training on Infosys Springboard Virtual Learning Platform. According to a statement, Infosys AI-first specialists and data strategists, responsible for delivering Infosys Topaz AI-first set of services, solutions, and platforms will help shape the curriculum, to arm learners with future-ready skill sets. Infosys will provide certification in AI and Generative AI skills, crucial for landing jobs, through Infosys Springboard Virtual Learning Platform, it said. The certification will offer a variety of courses that cover a slew of topics related to AI, including an introductory course on AI and Generative AI, with a focus on deep learning and natural language processing, and a masterclass on AI and the impact of Generative AI. Moreover, a customised course on 'Citizens Data Science' will aim to cover various aspects of the data science discipline, including Python ...

HCLTech to train 18,000 experts on Google Cloud generative AI capabilities

As part of this expanded partnership, HCLTech will train more than 18,000 people on Google Cloud generative AI technologies and innovate new solutions

Sam Altman: The man behind the AI sensation across the globe, ChatGPT

OpenAI co-founder Sam Altman says that artificial intelligence might kill jobs but it is not a permanent job killer

HCLTech opens new facility in Chennai for 5G infrastructure testing

IT services company says the laboratory will help advance telephony and ensure quality

IT services firm Persistent profit up 25.1%, annual revenue crosses $1 bn

Pune-based company announces dividend of Rs 12 per equity share and special dividend of Rs 10 per equity share

Cognizant Technology announces salary hikes to 300,000 employees

Eligible executives at the levels of directors and above have already received merit increases in January

Pressure Sensitive Systems India Ltd achieves its 7th order in a row from an Israel company worth 3.8m USD approx 30 cr in the data warehouse sector

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IT service outsource norms to kick in from October this year, says RBI

"The agreements that come into force on or after October 1 shall comply with the provisions of these directions from the date of agreement itself," RBI said

Infosys collaborates with LexisNexis to provide end-to-end IT services

Infosys on Wednesday said it has extended collaboration with data and analytics company LexisNexis to provide information services across their range of content, enterprise and product applications. Infosys will provide LexisNexis end-to-end strategic IT services across multiple business domains that include their global content systems, global business systems and product development, according to a statement. These services will provide application maintenance and support, application development and validation, life cycle upgrades, application modernisation, and content modernisation. As part of the collaboration, Infosys will also offer strategic consultancy for LexisNexis' downstream, discretionary and strategic spending. "Building further on its 15-year-long relationship, Infosys will help ensure continued delivery excellence while enabling LexisNexis to seamlessly meet expected cost optimisation goals and business outcomes," the statement said.

US, Europe banking woes likely to hit Indian IT companies' growth

Indian IT players like TCS, Infosys, Wipro, HCL Technologies, Mphasis, and LTIMindtree have exposure to some of the troubled banks

HCLTech named Titanium member at Intel awards for second straight year

Indian firm gets US tech giant's highest level of recognition technical innovation in computer networks