Page 11 - It Firms

Brexit to benefit Indian firms only in the long run, say analysts

Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names

Trump's biggest H-1B changes blocked: What it means for Indian techies

A US court has blocked two H-1B regulations proposed by the Trump administration to restrict the ability of American companies to hire foreign employees

HCL Infosystems September quarter loss widens to Rs 83.71 crore

IT firm HCL Infosystems on Friday reported widening of its loss to Rs 83.71 crore for the quarter ended September. The company had posted a loss of Rs 39.92 crore in the year-ago period, HCL Infosystems said in a regulatory filing. Consolidated revenue from operations for the quarter under review decreased to Rs 131.57 crore from Rs 581.77 crore in the year-ago period, it added. The losses are primarily as a result of delayed receipts on certain system integration contracts, certain historical low margin contracts, slow-down of distribution businesses and finance costs, the filing said . In a statement, HCL Infosystems said its Systems Integration and Solutions business reported a revenue of Rs 24 crore in the second quarter of FY21, while that from the distribution business was at Rs 109 crore. "The company has recognised upfront loss of Rs 24.4 crore during the quarter on UIDAI MSP contract in Systems Integration business," it said. No revenue has been considered against this c

Top IT firms maintain fresher hiring goal even as attrition hits decade low

Hopes of better growth, rising demand for skills in emerging areas such as cloud, digital and data analytics are said to be the reason behind this

TCS makes buyback buzz but other Indian IT firms unlikely to follow suit

Buyback tax provision and steep valuations may deter companies still playing safe in the coronavirus pandemic, say analysts

IT firms likely to send more work to India as US proposes H-1B visa changes

Indian companies may step up US hiring after Trump administration's proposal to make changes in visa rules.

IT firm Hexaware Technologies to offer Rs 475 per share for delisting

The bid process for the delisting offer - where the promoters were offering a floor price of Rs 264.97 per share - had started on September 9 and closed on September 16

IT firms must focus on problem recognition and solution mindset: Murthy

Murthy said Indian IT companies will continue to grow anywhere between 7 to 10 per cent with operating margins being between 15 and 20 per cent

IT peripheral firm BenQ expects India business to grow 15-20% in 2020

Before Covid-19, two-thirds of BenQ's business came from sales of projectors and interactive flat panels and one-third of business was being contributed by monitors

No global offers, but highest domestic pay up 35% in IIM-A's PGPX placement

Attracts domestic maximum earning potential (MEP) of Rs 81 lakh as against Rs 60 lakh last year

Infosys to acquire US-based firm Kaleidoscope Innovation for $42 million

Will pick up 100% stake in a deal that is expected to close during the second quarter of fiscal 2021

IT firms lead IIM-A's one-year executive MBA final placement with 42 offers

Concluded in July, IIM-A releases audited placement report

Third wave of IT outsourcing expected post Covid-19 to benefit India

Post Covid-19, a third wave of IT outsourcing after the previous ones in the year 2000 and 2008 is expected, which would benefit Indian IT companies and tech jobs

Covid-19 likely to impact 5% IT employees in India, take away 200,000 jobs

The Indian IT and BPM sector employs around 4.4 million people, directly and indirectly. Every year, around 2-3 per cent of the employee base get impacted owing to performance related issues

TCS may see slower revenue growth, profitability over 12-18 months: S&P

"We now expect TCS' revenue to rise 0-1 per cent in the fiscal year ending March 31, 2021, compared with growth of 5.3 per cent in fiscal 2020," it said

IT firms roll out solutions to help clients return to office smoothly

WFH-themed solutions aimed at cost saving and better employee management for clients

Wipro completes acquisition of Brazilian IT firm IVIA Servios for $22.4 mn

In July, Wipro had said IVIA's local talent and long-standing relationships, combined with its own global expertise, will help expand its geographical footprint in Brazil

We're on the path to becoming fastest growing IT firm again: Cognizant CEO

The macro demand is uncertain, but we did better than our April performance, he says

Cognizant income down 29% at $361 mn, revenue declines 3.4% in June qtr

For the June 2020 quarter, Cognizant's revenue saw 3.4 per cent decline (2.5 per cent in constant currency) at $4 billion from $4.14 billion in the year-ago period

Cognizant ropes in Anil Cheriyan as executive VP strategy and technology

In an e-mail to employees, the company's CEO Brian Humphries said Cheriyan will join Cognizant on August 3 in the new role