Page 6 - Indian It Firms
Accenture's outsourcing guidance bodes well for big Indian IT cos: Analysts
Analysts underscored that Accenture's August quarter (Q4FY22) results reflected softening of demand for IT services, and thus remain 'cautious' on the sector
 "Accenture's outsourcing guidance bodes well for big Indian IT cos: Analysts")
IT firms resort to work-from-home as Bengaluru rain fury intensifies
India's best-known IT firms and startups have asked staff to work from home as torrential rains brought chaos on streets of the technology hub, marooning roads and snapping water and electricity supplies. While parts of the city that houses several global companies and home-grown startups, were under water, operations in IT firms and startups were largely unaffected as most of them had power backup and a hybrid work environment where some employees logged in from home. But some of the posh housing colonies were flooded and tractors were pressed into service to rescue residents. As rains disrupted traffic and threw lives out of gear, footages of IT workers travelling in tractors to reach workplace amid heavy waterlogging in the city, also surfaced on social media platforms. "All our associates at Bengaluru are safe. We are closely monitoring the situation and our delivery teams have been advised to exercise due caution," a spokesperson of Tata Consultancy Services (TCS) said. It ..
 "IT firms resort to work-from-home as Bengaluru rain fury intensifies")
IT firms increase scrutiny of employees amid moonlighting trend: Report
IT firms now have started to clamp down on such activities, as the companies think moonlighting affects employees' productivity and creates conflicts of interest
 "IT firms increase scrutiny of employees amid moonlighting trend: Report")
IT firms cut staff bonuses as US, European clients tighten budgets
IT services firms are freezing or cutting staff bonuses, worried that tightening budgets at U.S. and European clients who are bracing for a recession will sharply hit their own profits
 "IT firms cut staff bonuses as US, European clients tighten budgets")
Indian IT firms cut staff bonuses as US, European clients tighten budgets
Infosys Ltd, India's second-biggest IT company, and smaller rival Wipro recently told their employees they had reduced the variable pay portion of employee compensations
 "Indian IT firms cut staff bonuses as US, European clients tighten budgets")
IT services companies' salary costs growing faster than revenues
The six IT services firms, on average, earned net sales of around Rs 38 lakh per employee in FY22, up from Rs 33.5 lakh in FY17 and Rs 37.3 lakh in FY20
 "IT services companies' salary costs growing faster than revenues")
US retailer Macy's tech expense cut likely to hurt Indian IT giants
Macy's is among the first US retailers to announce spending cuts
 "US retailer Macy's tech expense cut likely to hurt Indian IT giants")
'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.
 "'Have enough headroom to improve margins going ahead,' says Wipro CFO")
TMSEp211: SpiceJet, Reliance Retail, estimated IT earnings, forex reserve
Can the SpiceJet incident be brushed aside as a blip? What is Reliance Retail's growth strategy? How will TCS Q1 results set the stage for IT earnings? What is a forex reserve? All answers here
 "TMSEp211: SpiceJet, Reliance Retail, estimated IT earnings, forex reserve")
Cloud, security to be priority even if recession hits US: Morgan Stanley
The report suggests limited near-term impact for Indian IT services players, but commentary on FY24 will be crucial
 "Cloud, security to be priority even if recession hits US: Morgan Stanley")
Strong order book, high attrition: What Accenture's Q3 means for Indian IT
Accenture Q3 results: Strong outlook and robust bookings reflect the secular nature of demand for IT services in the near-term, though medium-term risks persist, said analysts
 "Strong order book, high attrition: What Accenture's Q3 means for Indian IT")
Persistent to hit $1 bn annual revenue rate in FY23; to hire 3,000 freshers
The Pune-headquartered company posted a 42 per cent jump in revenue to $217 million in the March quarter, when it witnessed a 45.9 per cent growth in net profit at Rs 200.9 crore
 "Persistent to hit $1 bn annual revenue rate in FY23; to hire 3,000 freshers")
Double taxation relief for Indian IT companies operating in Australia
Both the trade deal and changes to domestic Australian tax laws will come into effect once the Australian Parliament ratifies the deal after the general elections due in May are completed in Australia
 "Double taxation relief for Indian IT companies operating in Australia")
TCS world's second most valuable IT brand, Infosys fastest growing: Report
Indian IT firms outpace US competitors in Brand Finance IT services ranking
 "TCS world's second most valuable IT brand, Infosys fastest growing: Report")
Acquisitions, strong growth outlook likely to limit downside for Wipro
Prior to the recent rally, the stock had been an underperformer
 "Acquisitions, strong growth outlook likely to limit downside for Wipro")
Infosys to hire 45,000 freshers in FY22 after spike in Q2 attrition numbers
Company COO Pravin Rai says the current scale of war for talent was not seen in past three decades
 "Infosys to hire 45,000 freshers in FY22 after spike in Q2 attrition numbers")
HCL signs up with Korea's HANCOM for global expansion, tech solutions
HCL will support training for software development at HANCOM's in India research and development centre, which was established in 2016.
 "HCL signs up with Korea's HANCOM for global expansion, tech solutions")
At Infosys, how pandemic brought importance of reskilling to the fore
To begin with, Infosys identified 36 skills that were important and created learning pathways
 "At Infosys, how pandemic brought importance of reskilling to the fore")
Get it right in the first instance: TCS mantra for government orders
Scale a challenge, but systems built here can be replicated anywhere, says executive
 "Get it right in the first instance: TCS mantra for government orders")
Infosys extends tech contract with a new minimum 3-year agreement with UCAS
Infosys on Tuesday said it has signed a new minimum three-year contract with UCAS, the admissions service for UK higher education.
 "Infosys extends tech contract with a new minimum 3-year agreement with UCAS")
