Page 3 - Indian It Industry
Bulk of 5G-centric spends to be pushed: TechM's CP Gurnani, Manoj Bhat
"Huawei continues to remain our customer. But they are going through their own cycle, in terms of the US (sanctions) and Covid-19 impact," said TechM's CFO Manoj Bhat
 "Bulk of 5G-centric spends to be pushed: TechM's CP Gurnani, Manoj Bhat")
Job seekers confident about career progression as economy reboots: Survey
The LinkedIn Workforce Confidence Index showed a modest increase in India's overall workforce confidence, with a composite score of (+) 50, up from (+) 48 in June 1-14.
 "Job seekers confident about career progression as economy reboots: Survey")
Cash-rich Indian IT services companies go aggressive in M&A space
As capital allocation is altered, dividend payout to dip in the ongoing financial year
 "Cash-rich Indian IT services companies go aggressive in M&A space")
Covid-19 impact: Govt extends WFH norms for IT, ITeS firms till year end
The decision will help ensure business continuity and employee safety, industry executives said.
 "Covid-19 impact: Govt extends WFH norms for IT, ITeS firms till year end")
Tata Consultancy Services lifts curb on lateral hiring amid Covid-19 crisis
The Mumbai-headquartered company, however, said it would selectively hire experienced employees from outside.
 "Tata Consultancy Services lifts curb on lateral hiring amid Covid-19 crisis")
Unsure of hiring fresh graduates, IT companies venture off campus
The technology industry is one of the largest recruiters for fresh graduates in the country.
 "Unsure of hiring fresh graduates, IT companies venture off campus")
Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis
Performance review likely to see some retrenchments
 "Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis")
Indian IT firms may report 5-9% contraction in revenues for June quarter
Hospitality and travel, as well as manufacturing and retail, are the segments likely to see maximum hit
 "Indian IT firms may report 5-9% contraction in revenues for June quarter")
IT companies jittery over Donald Trump's plan to suspend H-1B visa
The Indian information technology industry, which has long been a beneficiary of the H-1B visa regime, is likely to be directly impacted if such a suspension is announced for a longer term.
 "IT companies jittery over Donald Trump's plan to suspend H-1B visa")
Wipro's outgoing CEO Abidali Neemuchwala sees 12% rise in pay package
In comparison, Infosys' CEO Salil Parekh drew a pay package of $6.15 million (around Rs 40 crore) in the last financial year, a rise of 27 per cent over the previous fiscal.
 "Wipro's outgoing CEO Abidali Neemuchwala sees 12% rise in pay package")
Nasscom for policy tweak to enable longer work-from-home scenario
Nasscom has asked for the abolition of OSPs (other service providers) under the Department of Telecom, under which certain kinds of work (such as voice calls) cannot be shifted to employees' homes.
 "Nasscom for policy tweak to enable longer work-from-home scenario")
Covid-19 may slow India IT and business service growth to 6.5% in 2020: IDC
The IT and business services market grew by 8 per cent annually in the second half of 2019
 "Covid-19 may slow India IT and business service growth to 6.5% in 2020: IDC")
TCS snatches most-profitable tag from Reliance Industries after 6 years
The Mukesh Ambani-controlled conglomerate, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and m-cap.
 "TCS snatches most-profitable tag from Reliance Industries after 6 years")
Mindtree Q4 net profit up 4% to Rs 206 crore, flags coronavirus concerns
For Q4FY20, Mindtree posted a net profit of Rs 206.2 crore, a rise of 3.9 per cent year-on-year basis and 4.7 per cent sequentially.
 "Mindtree Q4 net profit up 4% to Rs 206 crore, flags coronavirus concerns")
TCS net profit flat at Rs 8,049 crore in Q4; freezes salary hike
The numbers are largely in line with street expectations. Brokerages (on an average basis) expected net profit or profit after tax (PAT) for the quarter to fall 0.3 per cent QoQ to Rs 8,095.4 crore.
 "TCS net profit flat at Rs 8,049 crore in Q4; freezes salary hike")
Wipro suspends Q1FY21 revenue guidance as coronavirus crisis hits business
The company joined some of its peers to flag the uncertainty arising out of the pandemic and refrained from giving any revenue guidance for the first quarter of FY21
 "Wipro suspends Q1FY21 revenue guidance as coronavirus crisis hits business")
Prolonged lockdown may lead to job cuts in IT industry: Ex Nasscom chief
Chandrasekhar said the work-from-home systems being adopted by several firms across the globe may have a negative impact on the industry in the short-term
 "Prolonged lockdown may lead to job cuts in IT industry: Ex Nasscom chief")
IT sector braces for a rough ride as ISG predicts delay in client spending
According to ISG, the demand contraction is likely to be felt the most in the second quarter (April-June) period of this year, leading to decline in annual contract value (ACV) of IT services firm
 "IT sector braces for a rough ride as ISG predicts delay in client spending")
Cut ops: US, Europe firms tell tech vendors in India amid Covid-19 outbreak
Experts say hospitality, manufacturing clients may hold back spends
 "Cut ops: US, Europe firms tell tech vendors in India amid Covid-19 outbreak")
Nasscom sees IT industry revenues growing at 7.7% in FY20 at $191 billion
The industry body remains cautiously optimistic about growth in FY21
 "Nasscom sees IT industry revenues growing at 7.7% in FY20 at $191 billion")
