Page 25 - It Companies
Govt extends work from home norms for IT, BPO companies till December 31
Currently, around 85 per cent of the IT workforce is working from home and only those performing critical functions are going to offices
 "Govt extends work from home norms for IT, BPO companies till December 31")
FM emphasises on consensus-based solution for digital taxation at G-20 meet
The digital taxation assumed significance since the US launched an investigation against various countries including India for levying digital tax on its companies
 "FM emphasises on consensus-based solution for digital taxation at G-20 meet")
Infosys ripe for re-rating after strong performance in June quarter
While the company's revenue grew by 8.5 per cent year-on-year to Rs 23,665 crore, its profit before tax (pre-tax profit) was up by 12.1 per cent year-on-year
 "Infosys ripe for re-rating after strong performance in June quarter")
Top Headlines: Voda Idea defaults on payments, IT firms' hiring woes & more
From IT companies facing problems in hiring fresh candidates, Voda defaulting on June payments, TCS reporting fall in net profits, here are the top headlines on Friday morning
 "Top Headlines: Voda Idea defaults on payments, IT firms' hiring woes & more")
CMD Ramkumar Ramamoorthy puts in papers after a 23-year stint at Cognizant
Pradeep Shilige, Head of Global Delivery also resigned from the company. Accenture veteran Andy Stafford is replacing Shilige, said sources
 "CMD Ramkumar Ramamoorthy puts in papers after a 23-year stint at Cognizant")
Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis
Performance review likely to see some retrenchments
 "Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis")
State govts, firms harnessing Cloud to fight coronavirus in India: AWS
The COVID-19 onslaught has accelerated the pace of IT modernisation and digital transformation via Cloud-driven solutions in the vast public sector in India, says Amazon Web Services
 "State govts, firms harnessing Cloud to fight coronavirus in India: AWS")
IT firms tap freelancers to optimise staff costs amid Covid-19 crisis
Replacing part of contractual workforce with programmers, developers registered on online platforms such as GitHub, Topcoder
 "IT firms tap freelancers to optimise staff costs amid Covid-19 crisis")
Bench staff at IT firms rising as Covid-19 causes project delays
In the past three months, there has been at least one percentage increase in staffers on the bench
 "Bench staff at IT firms rising as Covid-19 causes project delays")
Growth, margin uncertainty likely to impair recovery in IT stocks
Scaling up of new deals and lowering costs are imperative for the up to 33 per cent gains in share prices to sustain
 "Growth, margin uncertainty likely to impair recovery in IT stocks")
Covid-19 impact: IT companies get back to work with new rule book
Capgemini which employs about 110,000 employs in India has about 5 per cent of its workers coming to office
 "Covid-19 impact: IT companies get back to work with new rule book")
HCL Technologies to buy Cisco's Self-Optimizing Network technology
Unlike its rivals, HCL Tech has bet big on selling products and platforms. As part of this strategy, it bought some IBM products for nearly $2 billion in 2018
 "HCL Technologies to buy Cisco's Self-Optimizing Network technology")
At home in a coronavirus world: IT companies manage change and disruption
India's biggest IT firms moved swiftly when a lockdown became imminent in March. How prepared are they to deal with the challenge of clients reducing spending on technology or asking for discounts?
 "At home in a coronavirus world: IT companies manage change and disruption")
Covid-related disclosures by Indian companies
While filing their financial results for FY20, corporations should adequately address the Covid-19 related concern and its impact on asset quality
 "Covid-related disclosures by Indian companies")
Covid-19 impact: IT services let go of contract staff to reduce bench
In the last few years, subcontracting costs for most IT firms have also increased manifold due to protective measures around issuance of H1-B work visas
 "Covid-19 impact: IT services let go of contract staff to reduce bench")
IT firms to continue hiring freshers despite coronavirus pandemic
The move is likely to help in containing costs by improving the employee pyramid; lateral hiring likely to be on need-basis
 "IT firms to continue hiring freshers despite coronavirus pandemic")
Cognizant posts 17% drop in net profit; Covid-19 to impact Q2 numbers
Among verticals, the highest growth in revenue during the quarter came from communications, media and technology, which grew 5.2 per cent to $626 million
 "Cognizant posts 17% drop in net profit; Covid-19 to impact Q2 numbers")
Revenue bites: IT firms go aggressive on cost-cutting amid Covid-19 crisis
Travel expenses trimmed and salary hikes put on hold as industry fights slowdown and demand uncertainty
 "Revenue bites: IT firms go aggressive on cost-cutting amid Covid-19 crisis")
Day 1 of lockdown 3.0: India limps back, but industry still in limbo
With public transport still not allowed in 130 red-zone districts, which comprise some of the economically important urban centres, people took out their private vehicles.
 "Day 1 of lockdown 3.0: India limps back, but industry still in limbo")
Covid-19 impact: Kerala announce relief measures for IT, ITeS companies
The government has waived rent for the months of April, May and June 2020 for all IT and ITeS companies which have taken upto 10,000 sq ft of space on rent
 "Covid-19 impact: Kerala announce relief measures for IT, ITeS companies")