Page 19 - It Sector

IT employees union NITES urges Nasscom to act against job frauds

NITES in a letter to NASSCOM sai the increasing number of frauds and scams are targeting thousands of fresher's and experienced employees in the IT sector

Overall job demand in IT sector falls 5% yearly in April, says report

White-collar job demand in April declined by 5 per cent compared to the same month last year with 2,715 job postings following a correction in hiring in the IT sector, a report said on Monday. Overall job postings on Naukri.com platform stood at 2,863 during April 2022, according to the Naukri JobSpeak Index. Active hiring in non-tech sectors such as real estate and BFSI (banking, financial services and insurance) mitigated the dip in IT sector hiring, the report added. The Naukri JobSpeak is a monthly index representing the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database on Naukri.com. It further revealed that the real estate sector spearheaded non-technology industries, witnessing a 21 per cent upswing in recruitment compared to the same month of the previous year. This growth predominantly resulted from an increase in new launches of residential and commercial properties across metropolit

Commerce department likely to tweak some SEZ rules in DESH Bill

Move will allow use of unutilised spaces in IT/ITeS for non-SEZ purposes

Indian firms' to slow down IT spending due to cost, global factors: Study

Inflation and currency devaluations make technology investments costlier, it says

Losing favour: IT sector weighting in Nifty50 at 5-year low of 12.2%

Gives up most of the gains in market cap in post-pandemic period

Cyber security, accidents among top threats for industry: Ficci report

A seminar on 'New Age Risks' was organised by Ficci to discuss and debate the trend of traditional risk parameters and emerging risks that may impact the industry

These are the non-IT sectors most eager to hire tech talent in India

As non-tech industries adopt more technology, their intent to hire tech talent has increased. Here are the details

Disappointing numbers

IT sector has hit a rough patch

Infosys Q4 results: Net profit rises 7.8% to Rs 6,128 cr; revenue up 16%

The company recommended a final dividend of Rs 17.50 per equity share for the financial year ended March 31, 2023

TCS Q4 Results: Net profit up 14.8% at Rs 11,436 cr; dividend Rs 24 a share

The net profit for Q4FY23 has increased by 14.8 per cent on a year-on-year (YoY) basis from Rs 9,959 crore in Q4FY22

Foreign portfolio investors pull out Rs 11k cr from energy, finance, IT

Turn their attention to capital goods, construction, FMCG, consumer durables in March

US tech firm Eventbrite to hire 120 for its development centre in India

Eventbrite will host a virtual career fair on April 14, hiring for roles across engineering, data, product management, product design and program management

LTIMindtree delays onboarding and extends training for assessment

Move will impact 600-700; letter says freshers have no other option but to accept the programme

Amid salary cuts, layoffs, techies now hit by soaring rents in Bengaluru

The techies, especially those in early phase of their career, are finding it difficult to afford exorbitant rents and they are considering to migrate to distant localities that have afforable rents

Tech spending in India poised to grow by 9.6% this year, shows report

According to the report, tech outsourcing and hardware maintenance will see sharp growth

Revenue growth of IT firms in FY24 to be 7-9% lower than FY23: CRISIL

The key reason for the sharp fall in revenues is the slowdown in the BFSI segment, which accounts for 30% of the sector's revenues

Sun Pharmaceuticals to see drop in revenue owing to IT security incident

Indian drugmaker Sun Pharmaceutical Industries Ltd would see a revenue drop in a few of its businesses and incur some expenses due to an IT security incident that happened earlier this month

Accenture to cut 19,000 jobs as IT spending slows; India impact unclear

IT services firm announces 'departure of 19,000 people' to save costs and streamline functions

Foxconn deal: Karnataka labour laws in focus, Tamil Nadu may follow

Allowing 12-hour shifts for all and nighttime work for women was meant to benefit software firms, but is said to have clinched Foxconn's Rs 8,000 cr investment

Leadership position

Large IT firms are witnessing changes at the top