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Indian IT Industry
Drug major Sun Pharma has said the IT security incident that happened earlier this month will impact revenues of some of its businesses. As part of the containment measures, the company proactively isolated its network and initiated the recovery process. "As a result of these measures, the company's business operations have been impacted. Consequently, revenues are expected to be reduced in some of our businesses," Sun Pharma said in a regulatory filing late in the night on March 26. The company also said it would incur expenses in connection with the incident and the remediation. Currently, the company is unable to determine other potential adverse impacts of the incident, including but not limited to additional information security incidents, increased costs to maintain insurance coverage, the diversion of management and employee time or the possibility of litigation, it added. Sun Pharma had reported the incident on March 2. The company said it promptly took steps to contain a
The evolving global macroeconomic headwinds could moderate growth for Indian IT services industry over the medium term, ICRA said on Wednesday. Rating agency ICRA, in its recent research report, has cited that given the Indian IT services industry generates about 60-65 per cent of revenues from the US market and 20-25 per cent from the European market, it remains susceptible to macroeconomic uncertainties and adverse regulatory changes in these key operating markets. Deepak Jotwani, Assistant Vice President and Sector Head of ICRA, said: "Growth in the BFSI (Banking, Financial Services and Insurance) segment, one of the key segments for IT companies, has tapered more than other segments in recent quarters, and this is partially attributable to lower lending activity". If the macroeconomic headwinds persist, the mortgage lending and the retail segments are expected to witness relatively higher moderation in growth, compared to the manufacturing and healthcare segments. "While the ..
More than half of IT professionals (53 per cent) are likely to pursue a new position within the next year due to better compensation, a lack of training and development and a lack of work-life balance, according to a report. About 66 per cent of IT decision makers see skills gap in their teams even as there is a 10 per cent decrease from last year, according to Skillsoft's 2022 IT Skills and Salary Report. However, the industry is facing another pressing challenge centred around talent attrition, with more than half (53 per cent) of all respondents extremely or somewhat likely to look for a new job in the next 12 months, it added. Skillsoft's 2022 IT Skills and Salary Report based on a survey with nearly 8,000 respondents. The report further revealed that over the past year, the workplace has been defined by employee-led "movements", namely the Great Resignation and "quiet quitting". Meanwhile, the pace of digital transformation and lack of enough technical resources have pushed m
Wipro's Rishad Premji recently said that talent, not market growth, was the challenge tech services companies were staring at. What is the cause of these troubles? Is it an HR management challenge?
While brokerages expect Q4 earnings of Nifty50 companies to hit record peak levels, the march is expected to be driven by banks and financials. Let's dive into the Street expecting from Q4 results
IT consulting firm Accenture reported strong Q2 results last week. But, supply-side challenges remain a point of concern. Let's find out what the numbers mean for the Indian IT sector