Page 5 - Indian It Industry

TCS snatches most-profitable tag from Reliance Industries after 6 years

The Mukesh Ambani-controlled conglomerate, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and m-cap.

Mindtree Q4 net profit up 4% to Rs 206 crore, flags coronavirus concerns

For Q4FY20, Mindtree posted a net profit of Rs 206.2 crore, a rise of 3.9 per cent year-on-year basis and 4.7 per cent sequentially.

TCS net profit flat at Rs 8,049 crore in Q4; freezes salary hike

The numbers are largely in line with street expectations. Brokerages (on an average basis) expected net profit or profit after tax (PAT) for the quarter to fall 0.3 per cent QoQ to Rs 8,095.4 crore.

Wipro suspends Q1FY21 revenue guidance as coronavirus crisis hits business

The company joined some of its peers to flag the uncertainty arising out of the pandemic and refrained from giving any revenue guidance for the first quarter of FY21

Prolonged lockdown may lead to job cuts in IT industry: Ex Nasscom chief

Chandrasekhar said the work-from-home systems being adopted by several firms across the globe may have a negative impact on the industry in the short-term

IT sector braces for a rough ride as ISG predicts delay in client spending

According to ISG, the demand contraction is likely to be felt the most in the second quarter (April-June) period of this year, leading to decline in annual contract value (ACV) of IT services firm

Cut ops: US, Europe firms tell tech vendors in India amid Covid-19 outbreak

Experts say hospitality, manufacturing clients may hold back spends

Nasscom sees IT industry revenues growing at 7.7% in FY20 at $191 billion

The industry body remains cautiously optimistic about growth in FY21

Indian IT company accused of discrimination against foreigners in jobs

American national Tami Sulzberg alleges that at least 90 per cent of the US workforce of San Jose-based Happiest Minds, whose headquarters is in Bangalore, are South Asians, primarily from India

India market for computer services to grow faster than their exports: Study

The computer services industry in India is increasingly catering to the domestic market, stated the report by the United Nations Conference on Trade and Development

Top 10 biz headlines: FDI reforms, Synergy Group eyes 49% Jet stake & more

From the govt easing FDI norms for single-brand retail, digital media, and manufacturing to Synergy Group planning to pick up 49% stake in Jet Airways, here are the top business headlines for Thursday

Indian IT opts for nearshoring due to stricter H-1B visa norms under Trump

Canada and Mexico emerge as preferred nearshore destinations for Indian IT firms

Indian IT's big four: Will the next decade be as good as the previous one?

The coming decade will be more challenging; only those that foresee change and adapt quickly will remain this strong

Global firms prefer Indian techies despite US visa issues: Nasscom chief

The H-1B is a common visa route for skilled foreigners to find work at companies in the US

Why Indian IT's job target is under cloud

The pace of job generation has slowed as IT firms look at automation to do testing

Tamil Nadu to come up with new IT policy to attract investments

At a time when there has been allegations that Tamil Nadu is losing its sheen as an investment destination, the Government of Tamil Nadu is expected to come up with an IT policy to replace the existing nine year old policy, according to sources.Sources close to the development said that the industry has said that a policy adapting the latest changes in the IT industry is the final stages of completion and an announcement in this regard would come out any time soon. Official sources said that the work has been in progress in the past, in lines with the decision of the government during the previous Global Investors' Meet (GIM) in 2015.The industry sources said that they have shared their opinion on the industry requirements, including a start up policy and on expanding the IT space to the tier II, III cities by attracting industries to these region. The government has accepted the requests in a positive way, they said.Tamil Nadu contributes to around around Rs 20 billion and has been ..

Adopting new business models crucial for Indian IT's survival

IT services sector currently employs around 3.9 mn

Lay-off blues and prospects for Indian IT

Firing scare of recent weeks will subside as people find progressive firms employing more talent