Page 26 - It Sector

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.

Wipro announces quarterly promotions for top performers amid high attrition

Wipro plans to boost the salaries of most of its workforce by 10% in September 2022. The top performers are likely to receive a 15% hike

With Europe slowing, TCS says North America to drive its growth in FY23

The IT major indicated that clients in Europe are more cautious on tech spends given the possibility of deeper recession and ongoing conflict in Eastern Europe, leading to delays in decision making

Employee costs surge over 12% to a record Rs 10.8 trillion in FY22

Employee costs rose over 12% in FY22, the fastest in 8 years

Q1FY23 results: Margin pressure on IT services to remain, focus on outlook

Supply-side issues continue to impact companies

Strong order book, high attrition: What Accenture's Q3 means for Indian IT

Accenture Q3 results: Strong outlook and robust bookings reflect the secular nature of demand for IT services in the near-term, though medium-term risks persist, said analysts

Can an IT sector employee be classified as a workman?

A labour court in Chennai recently asked TCS to reinstate a former employee and clear all his past dues. This could become a reference for performance-related unlawful terminations in the IT industry

IT, technology lead July-Sept 2022 hiring outlook: ManpowerGroup Survey

Record high hiring outlook of 51% in eight years

Can US recession slam the brakes on Indian IT sector's dream run?

A recession in the US would have far-reaching consequences for the Indian economy -- especially for the IT sector. We examine how the Indian IT industry will be hit if the US goes through a recession

Why PLI scheme in IT hardware sector hasn't taken off despite laptop demand

Imports shoot up as local production remains way short of expectations

Infosys, TCS, Wipro: Is the fall in information technology stocks overdone?

In the last few weeks alone, analysts at JP Morgan, Kotak Institutional Equities and Nomura had sounded caution on the IT sector, suggesting that the heydays may be over, at least for now

What's ahead for the distressed IT, banks, realty, and metal sectors?

Amid talks of an impending recession, select pockets in the market have been hit the hardest and have entered the bear zone. Find out the fundamental and technical outlook for these sectors

KPIT Technologies announces acquisition of UK-based SOMIT Solutions

STRAP: The total value of the acquisition will be around GBP 7.68 million (around Rs 75 crore)

Chennai-based global tech company Zoho Corp invests Rs 20 cr in Genrobotics

Zoho's investment will assist Genrobotics in its mission to eradicate manual scavenging in India and provide safety and dignity to workers in sanitation and oil and gas industries