Page 9 - It Companies

Dividends triumph over buybacks despite potential for higher tax payouts

Share of buybacks in reward kitty drops to lowest in seven years

Top IT cos log muted sequential growth in Q2 amid sustained macro overhang

Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18. Analysts tracking the sector are bracing for a subdued sequential performance by the large IT-pack saying weakness seen in Q1 is likely to persist with no meaningful signs of recovery or deterioration, thus dashing any hopes of a quick turnaround. "We expect Q2FY24, though seasonally strongest, to remain weak from a sequential growth perspective with quarter-on-quarter CC (constant currency) growth varying from -1 per cent (Tech Mahindra) to +1.9 per cent (HCLTech) among the top-five firms," ICICI .

End of Work-from-home: IT cos nudge employees to prepare for 5-day office

The French IT company, Capgemini's employees have been asked to work from the office two days a week

HCLTech expands partnership with ANZ Banking group with a new deal

HCLTech will provide ANZ with digital workplace services and experience management across end-user devices and applications

Freshers face challenge to get jobs due to those who graduated last year

Freshers are facing a 'fresher glut' created by a spike in the talent pool of young professionals with experience of one to two years

FY25 revenue growth of a few large IT companies likely to touch 10%

Last week, Infosys entered into an agreement valued at $1.5 billion with a global company for 15 years to offer enhanced digital services through its artificial intelligence (AI) solutions

Top headlines: IT companies' forex revenue, falling global debt and more

Business Standard brings you the top headlines at this hour

IT companies' forex revenue exceeds earnings of other manufacturers in FY23

According to data, the combined forex revenue of listed IT companies grew by 20.7 per cent to reach Rs 5.14 trillion in FY23

IT hardware companies may be asked to register for imports in FY24: Report

This comes a month after the DGFT announced that the import of certain IT hardware products, including laptops, tablets, PCs, servers, etc., would fall under the restricted category

IT companies shrug off transport strike in Bengaluru with work from home

An estimated nine lakh private commercial vehicles, including auto-rickshaws, corporate vehicles, airport taxis, maxi cabs, and buses, stayed off the roads on Monday

IT companies step up GenAI investments as clients ready for paid POCs

However, GenAI has a margin optimisation implication for IT providers as they are also using it internally to cut down development times for client projects

As rents rise, here is what you can ask from your landlord for protection

Sign a long-term agreement that should have a reasonable escalation built in and a minimum guaranteed tenure

Goldman sees India IT growth pick up in medium-term; initiates coverage

"Indian IT services companies have doubled their market share in the last 10 years," analysts at Goldman Sachs led by Manish Adukia wrote in a note dated Tuesday

Expleo to double workforce in India, hire 5,000 people in 2.5 years: MD

French IT company Expleo's Indian arm plans to more than double its workforce in the country by hiring around 5,000 people over a period of two-and-a-half years, a senior official of the company said. Expleo Solutions CEO and MD Balaji Viswanathan, who heads India business, told PTI that the company sees growth primarily on account of expansion of business in the US. "The company aims to hire an additional more than 5,000 people over the next two-and-a-half years, including a focus on hiring fresh graduates. While other larger players are slowing down on hiring fresh graduates, the company believes it will provide future growth acceleration. The expectation is to double the current workforce of around 4,700 people, reaching a little over 9,700 employees," he said. Expleo works with multiple industries on a global scale, with a primary focus on aerospace, automotive, and transportation. Aerospace accounts for about 40 per cent of Expleo global business, automotive 35 per cent, ...

Cognizant Q2 profit down 19.7%, retains 2023 revenue growth guidance

Chief Financial Officer Jan Siegmund to retire in early 2024 but plans to stay in his role until the company identifies a successor and transition is completed

Tech Mahindra Q1FY24 results: Net profit falls 38.8% YoY to Rs 692.5 crore

At the end of the quarter, the company's headcount stood at 148,297. It was down 4,103 as compared to the March quarter

Q1FY24 results: Revenue growth of early birds at a 10-quarter low

India Inc more dependent on BFSI, IT companies to drive growth

Information technology companies battle revenue slowdown, margin decline

The meltdown in IT stocks on Friday was triggered by the Infosys results and projections announced the previous day

Infosys Q1FY24 result: Net profit up 10.9% to Rs 5,945 cr; attrition falls

The operating margin for the quarter was stable at 20.8%. Its attrition declined to 17.3% during the quarter

$46 bn rally shows optimism is returning for India's IT companies

The NSE Nifty IT Index has climbed 18% from an April low, adding about $46 billion in market value. The 10-member gauge has turned the rally up a notch in July