It Firms

Bandhan Financial Services acquires Genisys Group, expands global footprint

The acquisition will help Bandhan Group expand its global footprint with new offices in the US, UK, and India, significantly enhancing its presence in these markets

LTIMindtree Q2FY25 results: Net profit increases 7.75% to Rs 1,251 cr

Its revenue for the quarter under review came in at Rs 9,432 crore, 5.91 per cent higher than Rs 8,905 crore in Q2 FY24

Indian shares hit record highs helped by gains in IT and consumer firms

The consumer goods index was up 0.4 per cent and was among the top gainers of the 13 major sub-indexes

IT staffers' FY25 average salary hikes likely to be 5.5-8%, say experts

Experts say top performers may continue to see increases ranging from 12-18%

BSE defers IT services firm Trafiksol's IPO after investors' concern

Company's issue had garnered bids over Rs 10,000 cr; participants approached Sebi alleging irregularities

Gen AI boosting productivity of Indian IT industry's rising niche: TCS exec

Generative AI has taken centre stage in the space and clients are replanning budgets and product features, Chakravarti said

France's Atos cuts financial targets, says restructuring still on track

Atos said it now forecast a full-year 2024 group revenue of 9.7 billion euros ($10.72 billion), down from 9.8 billion euros previously estimated

IT firm Ahead opens new office in Hyderabad, set to hire 500 staff by 2025

IT company Ahead has launched its new office in Hyderabad, where it plans to onboard 500 people by 2025, the company said on Thursday. It has already set up a delivery office in Gurugram last year, where it has 400 employees. "We are thrilled to announce our expansion into Hyderabad, a city renowned for its dynamic tech ecosystem and exceptional talent pool. "The talent pool located in Hyderabad complements our existing talent base in North India, enabling AHEAD to better meet client needs, especially on larger services engagements," Ahead India, Vice President and Managing Director Praveen Grover said in a statement. The company plans to increase its headcount to 750 this year and complete the hiring of 500 employees in Hyderabad by the end of 2025, Grover said. "By the end of next year, Ahead aims to hire over 500 employees in Hyderabad, leveraging the city's rich pool of skilled professionals and its growing reputation as India's premier IT hub. This strategic move is part of .

IT company TCS eyes 'Prime' campus talents with Rs 9-11 L offers

The need to secure such top talent is also driven by the fast-paced technological changes shaping the sector

Mphasis Q1 FY25 results: Net profit rises 2.1% to Rs 404.5 crore

The revenue growth increased by 4.6 per cent on a year-on-year basis to Rs 3,422.5 crore

Netweb Tech Q1 results: Firm's net profit jumps 3-fold to Rs 15.4 cr

IT hardware company Netweb Technologies on Saturday posted over three-fold jump in net profit to Rs 15.4 crore in the April-June quarter of 2024-25. The company had posted a net profit of Rs 5 crore in the same period a year ago. Total income also increased to Rs 153.21 crore during the reported quarter from Rs 60.2 crore in June 2023 quarter. "AI systems has emerged as a pivotal growth pillar, contributing significantly to our operating revenue, with its share increasing to 14.6 per cent in the quarter gone by, marking a robust growth of 146 per cent YoY," Sanjay Lodha, Chairman and Managing Director, Netweb Technologies said.

IT firm TCS adds over 5,000 employees in the first quarter of FY25

For the financial year 2023-24, TCS had reported a total headcount decline of 13,249 compared to FY23

Accenture buys Bengaluru-based chip design company Excelmax Technologies

The investment signifies that the company is making to build semiconductor capabilities

Wipro public shareholders object to outgoing CEO Delaporte's severance pay

Resolution to pay him $4.33 mn in cash compensation is accepted due to promoter shareholding

Capital Group buys over 322,000 shares of IT firm Coforge for Rs 163 cr

Financial services company Capital Group on Thursday bought shares of IT company Coforge for Rs 163 crore through an open market transaction. US-based Capital Group through its affiliate New World Fund Inc acquired shares of Coforge through a bulk deal on the NSE. As per the data on the National Stock Exchange (NSE), New World Fund Inc purchased 3,22,554 shares or 0.5 per cent stake in Coforge. The shares were picked up at an average price of Rs 5,073.66 apiece, taking the deal size to Rs 163.65 crore. After the stake purchase, Capital Group's shareholding in Coforge increased to 5.52 per cent from 5.02 per cent in the company. Capital Group through its two affiliates SmallCap World Fund Inc and New World Fund Inc hold a stake in the company. Details of the sellers could not be ascertained. On Thursday, shares of Coforge rose 3.55 per cent to close at Rs 5,084.45 apiece on the NSE.

Mega Networks to set up AI server facility in Mumbai by end of the year

Mega Networks is an advanced networking solutions provider known for producing indigenous AI servers in India, partnering with chip giants like NVIDIA, Intel, and AMD

CII Summit: Azim Premji stresses companies' social responsibilities

Premji, who is also a philanthropist, emphasised the need for business houses to operate with the highest standards of integrity and stated that a lack of integrity signifies a lack of character

Tracking apps, variable pay: How IT firms are nudging staff back to office

Cognizant, TCS, Dell, Wipro, and Infosys are deploying various tactics including compliance apps and linking variable pay to attendance to ensure their staff return to office

IT firms' work for international clients may not always attract IGST

Experts say the ruling may have ramifications for other industries which provide services to foreign clients too, particularly in the IT, consulting, marketing, and recruitment sectors

Netcon Tech invests in Nikitek to revolutionise airport baggage handling

This move will transform the way baggage handling is done at airports, delivering a seamless, digitally enabled and eco-friendly travel experience, Netcon said