Page 17 - It Companies
Tech Mahindra Q1 results today: How company performed in last four quarters
Tech Mahindra Q1FY23 results: In the last quarter the company recorded a net profit of Rs 1,038 crore. In Q3FY22, it stood at Rs 1,329 crore
 "Tech Mahindra Q1 results today: How company performed in last four quarters")
Sooner or later, US recession will come knocking at India's tech-hub door
India's tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.'s cheery forecast of 14 per cent to 16 per cent annual revenue growth
 "Sooner or later, US recession will come knocking at India's tech-hub door")
Infosys disappoints on profit, ups FY23 revenue growth guidance to 14-16%
Its net profit for Q1FY23 was below expectations at Rs 5,360 crore, up 3.2 per cent year-on-year (YoY) but was down 5.7 per cent sequentially
 "Infosys disappoints on profit, ups FY23 revenue growth guidance to 14-16%")
Top Headlines: India's 1st tribal prez, Apple's vendors create 30K jobs
Fielded by NDA, Murmu got more than 70 per cent of the votes cast, and at least 20 opposition votes, winning the election by a massive margin
 "Top Headlines: India's 1st tribal prez, Apple's vendors create 30K jobs")
43% of India Inc's foreign exchange revenue comes to IT companies
The companies that have published their forex transaction for FY22 account for nearly 65 per cent of such earnings in the sample
 "43% of India Inc's foreign exchange revenue comes to IT companies")
'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")
Wipro's Q1 net profit declines 21% over acquisitions, talent cost
Despite a below-expectation showing, IT major expects double-digit growth in FY23
 "Wipro's Q1 net profit declines 21% over acquisitions, talent cost")
Rupee at 80 to the dollar: IT services and tech industry to get a leg up
As the rupee touches 80 to the dollar, the extent of gains for Indian companies may differ basis their exposure to non-US regions and the performance of their currencies
 "Rupee at 80 to the dollar: IT services and tech industry to get a leg up")
Wipro Q1FY23 net profit likely to drop 8.1% YoY, say analysts
At the bourses, shares of Wipro have tumbled over 43 per cent so far in calendar year 2022. In comparison, Nifty50 and the S&P BSE Sensex have tanked 8 per cent each.
 "Wipro Q1FY23 net profit likely to drop 8.1% YoY, say analysts")
Big Tech games system many times: Chandrasekhar after Uber Files report
Chandrashekhar added that innovation would grow along with a citizen's right to open a trusted and accountable Internet under the Modi government.
 "Big Tech games system many times: Chandrasekhar after Uber Files report")
Wipro announces quarterly promotions for top performers amid high attrition
Wipro plans to boost the salaries of most of its workforce by 10% in September 2022. The top performers are likely to receive a 15% hike
TCS Q1 review: Brokerages caution against early signs of demand slowdown
The company has indicated that the near-term demand outlook remains strong, but senior-level client executives have started discussing a potential recession, said Nomura.
 "TCS Q1 review: Brokerages caution against early signs of demand slowdown")
Rajesh Nambiar loses 'executive' role at Cognizant, to remain India head
Rajesh Nambiar shall remain Cognizant CMD and executive Vice-President of India
 "Rajesh Nambiar loses 'executive' role at Cognizant, to remain India head")
IT companies' revenue growth to slide sharply in FY23, says report
Revenue growth from the BFSI segment, which constitutes nearly a third of the revenues for the sector, will remain healthy at 15-17% this fiscal versus 18% last fiscal, the Crisil report said
NICL picks Cognizant for accelerating, managing its digital transformation
NICL is one of India's leading public sector general insurance companies
 "NICL picks Cognizant for accelerating, managing its digital transformation")
Hybrid or WFO, rising coronavirus cases haven't disturbed India Inc
Alert to Covid situation, companies across sectors are continuing with existing work models for now
 "Hybrid or WFO, rising coronavirus cases haven't disturbed India Inc")
Is the time ripe for consolidation among new-age technology companies?
A rise in cost of capital has already weighed on the related stocks all across the globe over the past few months
 "Is the time ripe for consolidation among new-age technology companies?")
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")
Infosys selected to manage technology separation from Toll Holdings
"Global Express appoints Infosys to manage technology separation from Toll Holdings," the Bengaluru-headquartered IT services major said in a statement
 "Infosys selected to manage technology separation from Toll Holdings")
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")