Page 2 - It Services Industry

Wipro asks employees to work from office thrice a week as Covid curbs eased

Companies have been reversing or modifying their "remote work" policies as Covid-19 pandemic-related restrictions wound down for reasons including better communication and collaboration among workers.

Wipro plans to join rivals in cutting new hiring as tech spending cools

Instead of the usual big recruiting push, Wipro said it would first take on people to whom it had already made offers but hadn't yet brought onboard

Strong momentum for the second half, says HCLTech CEO & MD C Vijayakumar

C Vijayakumar, MD & CEO, HCLTech in a video interview with Shivani Shinde talks about the revenue guidance cut, growth drivers and hiring targets

80% of IT services companies likely to get to 5-day work mode by FY24 end

HR experts also point that with attrition back to its level many are taking the current dip in business momentum to get its employees back in office

5% rise in non-tech white-collar jobs in June, no respite for IT sector

While the core sector showed a positive sentiment, hiring in the country's IT services sector fell to its lowest level since December 2020

BLS International hits new high; soars 9% on proposed IPO of BLS E-Services

BLS International recently consolidated its banking correspondence and e-Governance businesses into a Digital Services segment, which is operated through BLS E-Services.

HCLTech opens new facility in Chennai for 5G infrastructure testing

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

TCS to develop its own ChatGPT with focus on enterprise code generation

TCS is expected to release some of these solutions by the last quarter of this financial year

Wipro Q4 profit declines 0.41% to Rs 3,074.5 cr, revenue rises 14.4%

Net profit for the full year FY23 dipped 7.16 per cent to Rs 11,366.50 crore

Next step for the infotech boom

The IT services industry must innovate more and integrate better into the needs of the national economy

A quick pivot to demand helped realise good growth: HCLTech's C Vijayakumar

From a larger proportion of smaller deals, we have moved into an environment where there is a much higher share of large deals in the pipeline, says C Vijayakumar, CEO & MD HCLTech

Client conversations dominated by ChatGPT, says TCS COO Subramaniam

He also said that clients are interested in knowing how ChatGPT and generative AI can be integrated into their offerings

L&T Technology Services to pay $9.9 million for US visa fraud allegations

IT services company acquired less expensive B1 work visas than costlier and limited H-1B visas between 2014 and 2019

Irrational exuberance pulled IT companies down in FY23: NASSCOM chairman

Delayed decision-making, economic uncertainty, and inflation along with demand contraction in some markets are expected to be the major headwinds for the sector

Tech Mahindra's Q3 profit slides 5.3% as expenses jump on macro challenges

India's Tech Mahindra reported a fall in third-quarter profit on Monday, hurt by higher expenses and a subdued performance by its communications division

IT firms see 14-20% topline growth in Q3, raise guard on uncertainties

India's IT services heavyweights delivered between 14-20 per cent on-year growth in topline for December quarter, as they raised guard on global uncertainties and choppy verticals, but remained hopeful that costs as well as business considerations will drive tech demand. The tech earnings season began with large IT companies -- Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies -- declaring their Q3 report card this week, amid analysts' gloomy prognosis around slowdown in advanced economies and fear of geopolitical flare-ups. The industry leaders said they are keeping a close watch on the global economy and cues. Overall, the revenue growth band of the top-tier IT players was pegged at between 14-20 per cent for Q3FY23, compared to the year ago period. Seen sequentially, the topline growth for the large IT pack ranged between three per cent and eight per cent versus previous September quarter. Meanwhile, December-quarter net profit of the top IT deck rose between

Govts to spend $11.6 billion on tech in 2023, says Gartner report

The projected spending is $11.6 billion in 2023, the report said

Tech Mahindra to come out with moonlighting policy this month: Report

Many employees working from home during the pandemic took up side jobs without the approval of their parent firm

Infy may overtake Cognizant on revenue front after a decade, say analysts

Slow growth rate and execution challenges impact Cognizant Q4 performance

Tech Mahindra Q2 net down 4% YoY to Rs 1,285 cr on supply side pressure

Profit was up sequentially, however; Revenue rose 20.7% YoY and 3.3% QoQ, driven by growth in CME segment and the US market