Page 20 - It Sector

Wipro follows IT trend, logs 2.8% rise in Q3 consolidated net profit

Top IT players Q3 reports show resilience in strategy, beat macro uncertainty

IT may turn the corner, banks' outperformance to continue: ABSL AMC CEO

India is likely to see broader economic growth going forward, equity should be the preferred asset class, the Aditya Birla Sun Life Asset Management Company CEO says

Q3 earnings from IT majors, macro data to drive markets this week: Analysts

Trend in the equity market will be guided by a host of factors lined up this week, including inflation numbers, IIP data and quarterly earnings from IT majors, analysts said. Global cues, movement of the rupee, Brent crude oil and foreign funds will also influence Dalal Street this week, they added. "We have important macroeconomic numbers this week, as our IIP and CPI inflation will be announced on January 12. On the same day, China and the US will also come out with their inflation figures. "The Q3 earnings season will kick off with IT major earnings this week, including TCS, Infosys and HCL Tech," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Last week, the Sensex lost 940.37 points or 1.55 per cent, while the Nifty declined 245.85 points or 1.36 per cent. The Indian equity markets have begun the New Year on a slightly cautious note, in line with the global markets, continuing the trend visible in December 2022, said Milind Muchhala, Executive Director, Julius

Age of celebration of tech for tech's sake is over, says MS CEO Nadella

Suggesting that the age of celebration of technology for technology's sake is over, Microsoft Chairman and CEO Satya Nadella on Thursday said it is now about technology and its use for everyone in the world, where India can contribute immensely. Speaking at the 'Microsoft Future Ready Technology Summit' here, he also highlighted the "magic" of government programmes and India Stack "co-evolving" in the country. "I had a chance to have a brief conversation with the Prime Minister yesterday, his vision and all the programmes, the yojanas and the India Stack. In fact the thing I'm realising is the magic of India Stack, because everything needs feedback. The yojanas or the policy and the technology stack co-evolving, that's just like a virtuous cycle that is unlike anything I have seen and it's just tremendous," Nadella said. He said, "I absolutely think both of these are perhaps the greatest contributions that India can make to the world quite frankly. The idea that there is digital ...

TMS Ep339: Online gaming, EV revolution, IT sector, Digital University

Will self-regulation work for online gaming in India? Will commercial vehicles drive the EV revolution? Will IT sector succumb to global headwinds? What's the National Digital University? Answers here

Indian firms lead in intending to hire first-time jobseekers: Report

IT sector expected to hire 100,000 freshers in FY23 to meet the rising demand

Amid global recession fears, IT firms may go slow on hiring in 2023: Report

The hiring rate for the IT sector is likely to grow by only 10 per cent in 2023, almost half of the 15-20 per cent rise seen this year

Data Bill to cause a behavioural change in firms: Rajeev Chandrasekhar

MeitY to come up with all rules of the bill before tabling the bill in the parliament: MoS IT

Flexi staffing grew 6% in July-Sept, added 78,000 new jobs: Report

78,000 new workers added in this period, marking third straight quarter of growth

I'm last of the jokers left; no plan B after I leave Infosys: Nilekani

'I was completely wrong,' Murthy rues not allowing founders' children to join the company

Infinite Solutions to invest Rs 500 cr for IT campuses in Noida, Lucknow

Uttar Pradesh government delegation led by state Finance Minister Suresh Khanna met with Chairman, of Infinite Computer Solutions Sanjay Govil on Tuesday in New York

Govts to spend $11.6 billion on tech in 2023, says Gartner report

The projected spending is $11.6 billion in 2023, the report said

Layoff fallout: Outplacement firms have their hands full with flood of CVs

Tough trade-off: Companies want job guarantee for people they've laid off, but on a bargain

Govts across world, forums lag behind in regulating Big Tech: MoS IT

Governments across the world and internet forums have lagged behind in rulemaking for big technology players for their innovations that can cause harm to society, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Sunday. Speaking at the India Internet Governance Forum (IGF) hosted by FICCI, Chandrasekhar further said the internet, which has been a force for good, has also increasingly begun to represent risk, user harm and criminality. "For too long governments of the world and indeed, IGF and most forums have lagged behind these big private platforms, big tech platforms in terms of the do's and don'ts and the rulemaking that are required. "We treated them for very long as innovators and innovations rather than deal with them as innovations as well as those innovations potentially being able to cause harm and create other disruptions to society and people," Chandrasekhar said. He said safety and trust are core issues for the government to address, especially ...

Mondelez Intl expands multi-year cybersecurity contract with HCLTech

HCL will also use its automation and AI capabilities to help Mondelez provide on-demand personalised user experience and accelerated issue resolution to 110,000 employees in 79 countries

Global govt IT spending to hit $589 bn next year, 6.8% rise from 2022

Global government IT spending is likely to reach $588.9 billion in 2023, an increase of 6.8 per cent from 2022, a report showed on Monday

India far ahead of China in IT but Chinese firms catching up: Expert

India's IT sector, one of the mainstays of its economy, is much ahead of its Chinese counterpart in the global markets but the firms from China are catching up and doing well in e-commerce, autonomous driving, AI and cloud services, according to a top Chinese IT executive. Mike Liu, the author of the book titled The Rise of Indian IT', said unlike the Indian firms, who still have a sway in the global markets, especially in IT outsourcing, China's software revenue is mostly from home. Over 95 per cent of China's IT earnings come from the domestic Chinese market, he said. In the global IT market, India is leading much ahead of Chinese market players, he said. The Chinese companies are not a threat to the Indian firms in the global markets, Mike, one of the rare Chinese IT executives who worked with the top Indian company Infosys for years, told PTI here ahead of his book launch. The book that provides an insight into the Indian and Chinese information technology development over the

Foreign outflows, weak IT sector stocks weigh on benchmark indices

Sensex declines in 4 out of 5 sessions in the week, Nifty50 in 3 sessions

Layoffs deemed illegal if not carried as per Industrial Disputes Act: Yadav

Amid reports of mass layoffs by several firms, including in the IT sector, Labour and Employment Minister Bhupender Yadav on Thursday said any retrenchment and layoffs are deemed to be illegal if not carried out as per the provisions of the Industrial Disputes Act. The minister was replying in the Rajya Sabha to a question about whether the government has taken cognizance of the mass layoffs in various multi-national and Indian companies in the IT, social media, Edu Tech firms and related sectors. Matters relating to layoffs and retrenchment in industrial establishments are governed by the provisions of the Industrial Disputes Act, 1947 (ID Act) which also regulates various aspects of layoffs and conditions precedent to retrenchment of workmen, said Yadav in reply to a question in the Rajya Sabha. As per the ID Act, establishments employing 100 persons or more are required to seek prior permission of the appropriate government before effecting closure, retrenchment or ...

IT sector may be ripe for cherry picking; analysts more positive on Infosys

Investors though should be selective; analysts more positive on Infosys and Persistent Systems