It Sector

Q3 earnings from IT majors, macro data to drive markets this week: Analysts

Trend in the equity market will be guided by a host of factors lined up this week, including inflation numbers, IIP data and quarterly earnings from IT majors, analysts said. Global cues, movement of the rupee, Brent crude oil and foreign funds will also influence Dalal Street this week, they added. "We have important macroeconomic numbers this week, as our IIP and CPI inflation will be announced on January 12. On the same day, China and the US will also come out with their inflation figures. "The Q3 earnings season will kick off with IT major earnings this week, including TCS, Infosys and HCL Tech," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Last week, the Sensex lost 940.37 points or 1.55 per cent, while the Nifty declined 245.85 points or 1.36 per cent. The Indian equity markets have begun the New Year on a slightly cautious note, in line with the global markets, continuing the trend visible in December 2022, said Milind Muchhala, Executive Director, Julius

Wipro chairman Rishad Premji's compensation down 50% as profits fall

Company filing says 'no commission payable for fiscal year'; CEO and CFO take cuts too

Foreign portfolio investors pull out Rs 11k cr from energy, finance, IT

Turn their attention to capital goods, construction, FMCG, consumer durables in March

US tech firm Eventbrite to hire 120 for its development centre in India

Eventbrite will host a virtual career fair on April 14, hiring for roles across engineering, data, product management, product design and program management

LTIMindtree delays onboarding and extends training for assessment

Move will impact 600-700; letter says freshers have no other option but to accept the programme

Amid salary cuts, layoffs, techies now hit by soaring rents in Bengaluru

The techies, especially those in early phase of their career, are finding it difficult to afford exorbitant rents and they are considering to migrate to distant localities that have afforable rents

Tech spending in India poised to grow by 9.6% this year, shows report

According to the report, tech outsourcing and hardware maintenance will see sharp growth

Revenue growth of IT firms in FY24 to be 7-9% lower than FY23: CRISIL

The key reason for the sharp fall in revenues is the slowdown in the BFSI segment, which accounts for 30% of the sector's revenues

Sun Pharmaceuticals to see drop in revenue owing to IT security incident

Indian drugmaker Sun Pharmaceutical Industries Ltd would see a revenue drop in a few of its businesses and incur some expenses due to an IT security incident that happened earlier this month

Accenture to cut 19,000 jobs as IT spending slows; India impact unclear

IT services firm announces 'departure of 19,000 people' to save costs and streamline functions

Foxconn deal: Karnataka labour laws in focus, Tamil Nadu may follow

Allowing 12-hour shifts for all and nighttime work for women was meant to benefit software firms, but is said to have clinched Foxconn's Rs 8,000 cr investment

Leadership position

Large IT firms are witnessing changes at the top

Gopinathan's resignation will not hurt TCS much; add stock on dips: Experts

Analysts say the stock price could turn volatile in the near-term as the development comes amid a challenging macro-environment including fears of a potential recession in the US

India's export cushion

Rising services surplus is likely to offset the goods trade deficit in the short and medium term

HPS, Oaktree among firms pitching deals for trapped SVB deposits

According to the report, some are offering to buy claims on the deposits of SVB clients, including startups and publicly traded companies, at discounts of between 60 cents to 75 cents on the dollar

Nifty may test 17,000 levels as SVB implosion stirs the ghosts of 2008

Selling pressure seen in banking, IT, and new-age stocks; foreign investors expected to be cautious

Pay gaps, uneven representation: Tech sector far from gender parity

The imbalance is more evident in the compensation offered to male and female employees in the IT sector

White-collar jobs for women grow 35% YoY in February: Foundit data

IT and BPM sector tops in terms of scope at 36%, followed by computers & software (35%) and BFSI (22%)

Aiming to double India portfolio to $8 bn in 3-4 yrs: CapitaLand India CEO

In a Q&A, Gauri Shankar Nagabhushanam also dwells on his company's ESG focus and why there is a lot of interest India despite the global headwinds

Highest salary offered at IIM Kozhikode touches Rs 67L, average at Rs 31L

An IT-sector company offered the top salary of Rs 67.02 lakh on the campus. This was higher than the top salary of Rs 61.5 lakh last year