Page 19 - It Sector

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

Gopinathan's resignation will not hurt TCS much; add stock on dips: Experts

Analysts say the stock price could turn volatile in the near-term as the development comes amid a challenging macro-environment including fears of a potential recession in the US

India's export cushion

Rising services surplus is likely to offset the goods trade deficit in the short and medium term

HPS, Oaktree among firms pitching deals for trapped SVB deposits

According to the report, some are offering to buy claims on the deposits of SVB clients, including startups and publicly traded companies, at discounts of between 60 cents to 75 cents on the dollar

Nifty may test 17,000 levels as SVB implosion stirs the ghosts of 2008

Selling pressure seen in banking, IT, and new-age stocks; foreign investors expected to be cautious

Pay gaps, uneven representation: Tech sector far from gender parity

The imbalance is more evident in the compensation offered to male and female employees in the IT sector

White-collar jobs for women grow 35% YoY in February: Foundit data

IT and BPM sector tops in terms of scope at 36%, followed by computers & software (35%) and BFSI (22%)

Aiming to double India portfolio to $8 bn in 3-4 yrs: CapitaLand India CEO

In a Q&A, Gauri Shankar Nagabhushanam also dwells on his company's ESG focus and why there is a lot of interest India despite the global headwinds

Highest salary offered at IIM Kozhikode touches Rs 67L, average at Rs 31L

An IT-sector company offered the top salary of Rs 67.02 lakh on the campus. This was higher than the top salary of Rs 61.5 lakh last year

Tech industry one of the most spoilt in the mode of work: Rishad Premji

Indian IT companies are facing challenges in re-establishing the work-from-office model of pre-pandemic times

Sensex, Nifty close in red for 7th straight session on weak global trends

Analysts said investors are grappling with central bank policies that may remain hawkish for longer than what was priced in by markets