Page 4 - It Sector
BNP Paribas Arbitrage offloads 48,00,000 shares of Wipro worth Rs 186 cr
BNP Paribas Arbitrage on Tuesday offloaded shares of IT company Wipro for Rs 186 crore through the open market transactions. According to the block deal data available with the BSE, BNP Paribas Arbitrage sold 48,00,000 shares of the company in two tranches. The shares were disposed of at an average price of Rs 387 per piece, taking the transaction value to Rs 185.76 crore. Meanwhile, Societe Generale acquired the company's shares at the same price. Shares of Wipro closed 0.09 per cent higher at Rs 388.85 apiece on BSE.
 "BNP Paribas Arbitrage offloads 48,00,000 shares of Wipro worth Rs 186 cr")
Twitter France head Damien Viel quits amid mass layoffs, says 'It's over'
Damien Viel, who confirmed his departure in a separate message to Bloomberg, had led the region for about seven years
 "Twitter France head Damien Viel quits amid mass layoffs, says 'It's over'")
Red carpet for private investors in ITeS sector in Uttar Pradesh
To encourage investors, the government will provide a subsidy of 25 per cent or up to Rs 20 crore for setting up IT Parks
 "Red carpet for private investors in ITeS sector in Uttar Pradesh")
Mphasis extends grant to Ashoka University with Rs 18 crore in funds
Makerspace will be a collaborative workspace for making, learning, exploring, and sharing using high-tech to no-tech tools, which will enable the ideation of tech-enabled solution-centric startups
 "Mphasis extends grant to Ashoka University with Rs 18 crore in funds")
IT hiring slowdown to hit Info Edge revenues in second half of FY23
Ongoing investments in 99acres amid rising competition may hinder profitability
 "IT hiring slowdown to hit Info Edge revenues in second half of FY23")
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
 "Infosys Science Foundation names winners of 14th Prize in six categories")
L&T Infotech and Mindtree receives approval for merger from NCLT
Creates India's sixth largest IT services and fifth largest in market cap
 "L&T Infotech and Mindtree receives approval for merger from NCLT")
Infosys BPM opens AI, automation unit in Poland for global clients
Centre will offer solutions for lowering costs, productivity, and customer experience: Company
 "Infosys BPM opens AI, automation unit in Poland for global clients")
Use corrections in IT sector as buying opportunities, say experts
Stellar long-term track record, growing digitalisation augur well for IT sector funds
 "Use corrections in IT sector as buying opportunities, say experts")
Pandemic boom to season of layoffs: How big tech and startups got it wrong
It is not just Meta which is looking at becoming capital efficient. Alphabet, the parent company of Google and Microsoft have already sent messages that focus will be on increasing productivity
 "Pandemic boom to season of layoffs: How big tech and startups got it wrong")
Background checks and more: How IT companies are detecting moonlighting
IT firms are increasingly resorting to background verification firms for additional checks on employees for moonlighting, says report
 "Background checks and more: How IT companies are detecting moonlighting")
KFintech settles Sebi proceedings with payment of over Rs 91 lakh
The registrar and transfer agent was found to be violating rules during a Sebi inspection in 2019-2020
 "KFintech settles Sebi proceedings with payment of over Rs 91 lakh")
Tech Mahindra working on a policy to allow moonlighting: C P Gurnani
Employees will need prior permission; no-tolerance policy will be followed if they hide, he adds
 "Tech Mahindra working on a policy to allow moonlighting: C P Gurnani")
Kerala govt to meet Byju's executives on Nov 2 as 170 staff asked to resign
A meeting was called by the officials of the labour department on October 25, but the company did not appear for meeting
 "Kerala govt to meet Byju's executives on Nov 2 as 170 staff asked to resign")
Similar P/E for cement & IT 'extraordinary': Kotak Institutional Equities
Brokerage says IT services firms score over cement on key parameters such as return on average capital employed, free cash flow to Ebitda ratio, dividend, and buyback payouts vis-a-vis PAT
 "Similar P/E for cement & IT 'extraordinary': Kotak Institutional Equities")
Moonlighting is a conflict of interest, says IBM to its employees
IBM has asked its employees to refrain from engaging in a second job or gig in any capacity and has declared it as against the company contract
 "Moonlighting is a conflict of interest, says IBM to its employees")
Uttar Pradesh govt bags Rs 16,000-crore deal for data centre projects
The state is planning to set up smaller capacity data centres in the hinterland across the state. The policy will aim to attract private sector investment to attain Rs 30,000 cr in the next five years
 "Uttar Pradesh govt bags Rs 16,000-crore deal for data centre projects")
IT governance rules: RBI releases draft guidelines for regulated entities
The framework will specify the role and responsibilities of the board of directors and the senior management of the entity.
 "IT governance rules: RBI releases draft guidelines for regulated entities")
Top headlines: Hikes, bonuses come down for IT firms, GACs in IT rules
The crazy salary hikes and bonuses with attrition hitting the roof is finally tempering down for the Indian IT services sector. Read more in our top headlines
 "Top headlines: Hikes, bonuses come down for IT firms, GACs in IT rules")
Infosys runs 'Accelerate' to avert moonlighting, says it supports learning
Infosys supports 'gig work' for employees but is against dual employment, has fired people who were moonlighting, CEO Salil Parekh said in a media interaction on Thursday
 "Infosys runs 'Accelerate' to avert moonlighting, says it supports learning")
