Indian It Services Firms

'The day my heart is not 100% committed': TCS's Gopinathan explains exit

Gopinathan said TCS is the market leader in its space, and has given industry-leading results

Infosys collaborates with mobility specialist ZF to revamp supply chain

/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has collaborated with mobility specialist ZF to revamp its multi-echelon supply chain with SAP Integrated Business Planning (SAP IBP) and Infosys Cobalt. Through this engagement with the aftermarket division of ZF, Infosys has implemented SAP IBP for demand planning and inventory optimization. Infosys was chosen to assist ZF on this transformation journey for its proven expertise in SAP IBP implementation and a plethora of in-house tools and accelerators, backed by efficient teams. As a part this initiative, Infosys leveraged its hybrid agile implementation methodology to replace multiple legacy demand planning tools at ZF Aftermarket, with a unified, global SAP platform. Further, by facilitating two-way flow of business-critical data between the new platform and external systems, Infosys has helped facilitate complex operations planning with .

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

Global macro headwinds may moderate growth for Indian IT industry: Icra

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 ..

Infosys Science Foundation names winners of 14th Prize in six categories

The Infosys Prize focuses on the achievements of the recipients and awards them for their contributions to science and research impacting India

L&T Infotech and Mindtree receives approval for merger from NCLT

Creates India's sixth largest IT services and fifth largest in market cap

Infosys BPM opens AI, automation unit in Poland for global clients

Centre will offer solutions for lowering costs, productivity, and customer experience: Company

Top IT services firm hit the pause button on hiring amid weak earnings

However, fears of an impending recession and declining profitability have together contributed in the change of mood for these IT services companies, along with their approach

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

Slow growth rate and execution challenges impact Cognizant Q4 performance

53% IT professionals may resign to pursue new job within next year: Report

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

Salary hikes and bonuses start to come down for Indian IT services sector

FY24 hikes will stay at lower levels than the spike seen in FY22 and 23

Accenture sees Q1 revenue below estimates due to currency volatility

For the full year, the company reported revenue of $61.6 billion an increase of 22 per cent in the US dollar terms

WFH to hybrid model: Women workforce gets an inclusive push from India Inc

Recently, Prime Minister Narendra Modi also said that a flexible workplace can be utilised to increase women's labour force participation

Infosys Finacle inducted in IFSCA regulatory plan for blockchain finance

Six leading banks are collaborating with trade finance solution for short-term credit, import payments

Attrition continues to hit margins at top-tier IT companies in Q1FY23

Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation

Happiest Minds profit rises 58% to Rs 56.34 crore in June quarter

IT company Happiest Minds on Friday posted a 57.7 per cent increase in consolidated profit after tax at Rs 56.34 crore in the June quarter. The company had reported a profit of Rs 35.73 crore in the year-ago period. The consolidated revenues from contracts with customers of the company grew 34.5 per cent to Rs 328.92 crore during the quarter under review. The same stood at Rs 244.61 crore in the year-ago period. "We have started fiscal year 2023 showing industry leading performance. Our 10-year vision statement is to be a billion-dollar company by 2031. "In line with this goal, based on the growth we are experiencing and continued demand for digital services, we are increasing our revenue guidance for FY23 to 25 per cent while targeting to grow at a CAGR (Compound Annual Growth Rate) of 25 per cent over the next 5 years," Happiest Minds Executive Chairman Ashok Soota said in a statement.

'Have enough headroom to improve margins going ahead,' says Wipro CFO

The margin for India's fourth-largest IT services firm declined 200 basis points over the previous quarter.

Maharashtra leads states with 13,541 govt-recognised startups: DPIIT data

Total number of approved startups at 73,205; Maharashtra's share is 18%

No signs of slowdown in attrition at TCS; firm says it has enough hands

TCS which had shared in Q4 of FY22 the hiring target of 40,000 for FY23, said the target remains

IT analysts in wait-and-watch mode as experts see mild recession in the US

Analysts predict that if a slowdown does happen by 2022-end, the impact will be seen only in second half of FY23