Page 24 - It Sector

Top Headlines: IT's ability to fund trade deficit dips, Infy cuts variables

Infosys has decided to reduce the average variable payout of employees to 70 per cent due to falling operating margins in the first quarter (Q1) of 2022-23

July witnesses sharp decline in M&A values, PE deals, says report

The start-up and IT sectors continued to dominate deal activity with nine deals each cumulatively valued at $162 million

MeitY may stick with a govt-backed GAC for social media content issues

The IT rules, 2021, require significant social media intermediaries (SSMIs) appoint a resident grievance officer to decide on content-related complaints

Return to office highest in telecom, consulting sectors; IT lags: Survey

Majority of employees in telecom and consulting sectors have returned to office with significant fall in Covid-19 cases but the IT sector is lagging, according to a survey by Colliers and Awfis

Bank, auto, FMCG: Sectors on FPIs' radar as they turn focus back on India

The swing in favour of Indian equities comes after a brutal sell-off where FPIs sold equities worth Rs 2.56 trillion since October 2021

IT, BPM industry to add more 300,000 jobs by FY2023: TeamLease report

Companies looking for candidates with digital skills and engineering graduates from smaller cities

Cognizant Q2 profit up 12.7% at $577 mn, lowers revenue guidance

Revenue was at $4.9 billion, up 9.5 per cent in constant currency on a year-on-year (YoY) basis

IT companies' margins decline to decade-low of 23.2% in June quarter

Wipro, Tech Mahindra see double-digit decline in net profit

Margin pressure

Next few quarters will be tough for IT sector

Is India Inc seeing the impact of a looming US recession?

Impending recession in the US is reflecting in its domestic consumption. Indian exporters are already seeing a dip in new orders, while IT sector margins are declining. Should the exporters worry?

What do Q1 IT earnings tell us about the sector's health?

The Q1 results of IT companies were disappointing as the profitability margins came lower than estimated. With a US recession on the horizon, are there reasons to worry about the IT sector's health?

Sooner or later, US recession will come knocking at India's tech-hub door

India's tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.'s cheery forecast of 14 per cent to 16 per cent annual revenue growth

Q1 early-bird results show inflation effect on India Inc's profits

First sequential contraction in corporate earnings after 4 quarters of expansion

Consumer IT spending to slide further amid recession fears in Asia-Pacific

Consumer IT spending in the Asia-Pacific region, already taking the brunt in the ongoing tight market conditions, is set to further slide in 2023, depending on the severity of the economic slowdown

Infosys net profit likely to surge up to 10% YoY in Q1FY23, say analysts

Infosys Q1 preview: Investors will closely monitor the management's commentary on clients' IT spending, demand environment amid macro stress, margin outlook, and growth guidance for FY23

Wipro Q1FY23 net profit likely to drop 8.1% YoY, say analysts

At the bourses, shares of Wipro have tumbled over 43 per cent so far in calendar year 2022. In comparison, Nifty50 and the S&P BSE Sensex have tanked 8 per cent each.

Consistent growth, margins in Q1 keep Mindtree ahead of larger peers

Analysts at the brokerage expect the company to deliver a 17 per cent dollar revenue growth annually between FY22-24

Office leasing up after Covid waves, IT sector leads in occupancy: Reports

Bengaluru leads in lease transactions and it is followed by Delhi-NCR, Mumbai, and Chennai

Big Tech games system many times: Chandrasekhar after Uber Files report

Chandrashekhar added that innovation would grow along with a citizen's right to open a trusted and accountable Internet under the Modi government.

Wipro, Tech Mahindra: Jefferies downgrades six IT stocks on recession fears

Earlier in May, analysts at JP Morgan had downgraded the Indian IT sector citing growth concerns. Rising margin headwind in the near-term, JP Morgan had said then, was one of the key concerns.