Page 5 - It Firms

IT firms set to slash 3 mn jobs by 2022 due to automation, says Report

The move will help them save a whopping $100 billion mostly in salaries annually, report said

Non-IT leaders to build most of tech products by 2024, says report

Gartner anticipates that in 2023, $30 billion in revenue will be generated by products and services that did not exist pre-pandemic.

IT major Wipro appoints Anup Purohit as chief information officer

IT major Wipro on Friday said it has appointed Anup Purohit as its chief information officer (CIO)

Accenture's business grows at pre-pandemic levels, raises revenue forecast

The company's shares rose 4.1% to $275.05 in premarket trading

Haryana IT firms fear state's local hire law, predict severe impact: Study

80 per cent companies said that the law will hurt their business and investments plans, according to Nasscom survey

IT sector continues to see sequential growth in hiring in January: Report

The sector witnessed a 39 per cent growth in job postings in January compared to the previous month, according to a report

Rise in onshore hiring, Covid-19 may reduce visa demand in tier-I IT firms

Last year, Infosys revealed plans to hire 12,000 American workers over the next two years, bringing its hiring commitment in the US to 25,000 over five years

38% Indian women working in tech industry prefer working from home: Survey

Almost 38 per cent Indian women working in a tech or IT industry prefer working at home to working in the office, says a new survey

Mphasis reports 10.8% rise in consolidated profit to Rs 325.5 cr in Dec qtr

The company's net profit stood at Rs 293.6 crore in the year-ago period, it said in a regulatory filing

Cognizant to acquire US-based software firm Magenic for undisclosed sum

Magenic Technologies is a custom software development services company

TCS begins Q3 results season with a bang; net profit up 7.2% to Rs 8,701 cr

Firm signals return to double-digit growth next year

Brexit to benefit Indian firms only in the long run, say analysts

Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names

Trump's biggest H-1B changes blocked: What it means for Indian techies

A US court has blocked two H-1B regulations proposed by the Trump administration to restrict the ability of American companies to hire foreign employees

HCL Infosystems September quarter loss widens to Rs 83.71 crore

IT firm HCL Infosystems on Friday reported widening of its loss to Rs 83.71 crore for the quarter ended September. The company had posted a loss of Rs 39.92 crore in the year-ago period, HCL Infosystems said in a regulatory filing. Consolidated revenue from operations for the quarter under review decreased to Rs 131.57 crore from Rs 581.77 crore in the year-ago period, it added. The losses are primarily as a result of delayed receipts on certain system integration contracts, certain historical low margin contracts, slow-down of distribution businesses and finance costs, the filing said . In a statement, HCL Infosystems said its Systems Integration and Solutions business reported a revenue of Rs 24 crore in the second quarter of FY21, while that from the distribution business was at Rs 109 crore. "The company has recognised upfront loss of Rs 24.4 crore during the quarter on UIDAI MSP contract in Systems Integration business," it said. No revenue has been considered against this c

Top IT firms maintain fresher hiring goal even as attrition hits decade low

Hopes of better growth, rising demand for skills in emerging areas such as cloud, digital and data analytics are said to be the reason behind this

TCS makes buyback buzz but other Indian IT firms unlikely to follow suit

Buyback tax provision and steep valuations may deter companies still playing safe in the coronavirus pandemic, say analysts

IT firms likely to send more work to India as US proposes H-1B visa changes

Indian companies may step up US hiring after Trump administration's proposal to make changes in visa rules.

IT firm Hexaware Technologies to offer Rs 475 per share for delisting

The bid process for the delisting offer - where the promoters were offering a floor price of Rs 264.97 per share - had started on September 9 and closed on September 16

IT firms must focus on problem recognition and solution mindset: Murthy

Murthy said Indian IT companies will continue to grow anywhere between 7 to 10 per cent with operating margins being between 15 and 20 per cent

IT peripheral firm BenQ expects India business to grow 15-20% in 2020

Before Covid-19, two-thirds of BenQ's business came from sales of projectors and interactive flat panels and one-third of business was being contributed by monitors