Page 2 - It Firms

Infosys trims variable bonus payment to 65%, cites business condition

Most IT services companies expect near-flat growth in FY due to macroeconomic uncertainty

Cognizant Q1 net income rises 21.4%; maintains full year revenue guidance

Revenue for the Q1 CY25 grew 8.2 per cent in constant currency to $5.1 billion compared to the same quarter last year

IT major Infosys approves Rs 51 crore ESOP grants for CEO Salil Parekh

India's second largest IT company Infosys' board has approved the grant of stock incentives or Employee Stock Option Plans (ESOPs) worth over Rs 51 crore to CEO and MD Salil Parekh. These stock incentives are under various heads including ESG and equity, and add up to over Rs 51 crore. In a recent filing, the company said the board, based on the recommendations of the Nomination and Remuneration Committee, approved the said annual grants to Parekh, as per his employment agreement approved by shareholders. Among them is "grant of annual performance-based stock incentives (Annual Performance Equity Grant) in the form of Restricted Stock Units (RSUs) covering company's equity shares having a market value of Rs 34.75 crore as on the date of the grant under the 2015 Stock Incentive Compensation Plan (2015 plan)". This, Infosys said, would vest 12 months from the date of grant subject to achievement of performance targets as determined by the board. The nod also includes grant of annual

FY26 may be worse than FY25 for IT services firms amid global headwinds

Uncertainty is also accentuated as the tariff scenario can play out in numerous different ways. A large part of the tariffs could get rescinded in the future or there can be an escalation of tariffs

US tariffs: Manufacturing, retail growth for IT companies may take a hit

Could lead to slower decision making, less discretionary spending on new-age technology

Cognizant looks to break into top four IT services companies by 2027

Company focusing on AI and training employees to regain leadership position, says annual report

Q4 results preview: Macro headwinds cloud IT firms' growth outlook

Accenture said last week discretionary spending has picked up in financial services and in the US

IT firm Happiest Minds Technologies announces top leadership changes

The company said that Joseph Anantharaju, who was the executive vice-chairman, president and chief executive officer of the PDES division

IT firm Happiest Minds appoints Joseph Anantharaju as CEO, Co-chairman

IT company Happiest Minds Technologies on Wednesday announced apex-level changes in its organisation structure, effective immediately. Joseph Anantharaju has been elevated to Co-Chairman and CEO of the Bengaluru-headquartered firm, according to a company statement. He will now head all business divisions of the company: Product & Digital Engineering Services (PDES), Infrastructure Management & Security Services (IMSS), and GenAI Business Services (GBS). Earlier, he served as the executive vice chairman, president & CEO of the PDES Division up till now. Its Chairman Ashok Soota will now take up an additional position as the Chief Mentor. Venkatraman Narayanan will continue as the MD & CFO of Happiest Minds. He will head the finance, talent acquisition, internal IT, learning & development, ESG, CSR, procurement and administration teams. Anantharaju and Narayanan will be jointly responsible for M&A and Board matters, the statement said, adding that they will ...

Explained: Why Infosys, Cognizant are battling it out in a US court

Infosys and Cognizant are locked in a legal battle over trade secrets, anti-competitive practices, and executive poaching in healthcare IT. Here's a deep dive

Pressure on operating margins may have forced Cognizant to defer pay hikes

The move, for the second consecutive year, comes even as the company said last month that its outlook for the healthcare and financial services business had improved for this financial year

IT major HCLTech to use AI to improve Children's Minnesota's operations

"We are proud to partner with Children's Minnesota as they embark on a digital healthcare evolution," said Shantanu Baruah, executive vice president of healthcare at HCLTech

Tech companies commit to invest Rs 25,640 crore in MP, create 183K jobs

Technology companies across segments have committed to investing Rs 25,640 crore in Madhya Pradesh that will lead to creation of over 1.83 lakh employment opportunities in the state, an official statement said on Tuesday. The commitments were received from 35 entities during the IT and Technology Summit at GIS 2025. "The state secured a total investment of Rs 25,640 crore across various technology sectors, creating approximately 1,83,400 employment opportunities," the statement issued by the Madhya Pradesh government said. Major investment commitments of Rs 12,350 crore have come in the space of electronics manufacturing from eight entities with promise to generate employment for 14,000 people. With investment of Rs 5,500 crore, IT and ITes entities have promised to be the biggest job generator in the state with 93,000 employment opportunities, followed by GCC (global capability centres) investment of Rs 700 crore that will create 40,500 jobs in the state. "Madhya Pradesh stands a

Data centre boom, GCCs to boost Black Box topline in FY26, says CEO

According to Gartner, global IT spending is projected to reach $5.7 trn in 2025. Of this, IT infrastructure spending is expected to be $600 bn to $750 bn

CGOs take centre stage at IT services companies amid growth challenges

Companies such as Tech Mahindra, HCLTech, LTIMindtree, US Technologies, and Persistent Systems already have growth officers who report to their chief executives

Google X founder Sebastian Thrun calls for balanced AI regulation

Sebastian Thrun, founder of Google X (Google's research arm), on Thursday emphasised the need for responsible AI regulation, assuring that the technology will complement rather than replace human workers. Speaking during a thought-provoking session titled "Pioneering AI: From Imagination to Real-World Impact" at the Global Investors' Meet, he discussed the evolving role of AI and its impact on regulation and job markets. Thrun addressed the issue of AI regulation, acknowledging its importance but cautioning against overregulation that could stifle innovation. "Regulation is necessary, but it must not hinder research," he said. "It's not right to control a technology before it has even had the chance to develop. Proper regulation should only step in when there's misuse," he added. He highlighted that countries like China and the European Union are already regulating AI, whereas India has yet to establish formal measures, he said. "Indian CEOs are incredibly tech-savvy and visionar

Nasdaq-listed IT major Cognizant targets 6.5-8% growth in Q1 FY25

The Nasdaq-listed firm reported a revenue growth of 6.7 per cent for the fourth quarter

TCS cuts quarterly variable pay for senior staff despite return to office

This marks the second consecutive variable pay cut at TCS for senior employees despite adherence to the work-from-office directive

US-based Cognizant sees headcount decline by 10,700 to 336,800 in Q4

Cognizant results: The US IT giant, that follows a Jan-Dec financial year, reported $19.7 billion in revenue at the end of 2024

TCS employee strength shrinks by 5,370 in Q3 after 2 quarters of growth

TCS has already begun its process for campus hiring in the next financial year, stating that it will continue to grow its quality talent