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Page 39 - It Sector

Housing rentals may come down by 10-20% in IT hubs: Assocham

The decline may be steeper, up to 20% in Pune, in the next three quarters

Updated On : 26 Jun 2017 | 8:09 PM IST

TCS, Wipro seek more patents as IT firms ups R&D spend

India's IT services firms have taken different paths to drive innovation. Tata Consultancy Services, India's largest software exporter and Wipro, its smaller rival have increased spending on research and development over the last three years, filing more patents for innovation they have developed.TCS has increased its R&D expenditure to Rs 1278 crore last fiscal from Rs 909.25 crore two years ago, as it invests in newer technologies in emerging areas such as Artificial Intelligence, Data Science and High Performance computing. TCS filed 3359 patent applications in 2016-17, as against 2842 a year ago. In fiscal 2015, it filed 509 patent applications. Wipro has increased spending to Rs 333.8 crore last fiscal from Rs 251.3 crore two years ago, investing in AI, internet of things and autonomous devices. Wipro filed 603 patent applications last year, as against 514 in fiscal 2016 and 578 a year before.TCS was granted 478 patents last year up from 206 and 341 patents each in FY15 ..

Updated On : 24 Jun 2017 | 11:25 PM IST

Amid IT layoffs and slowdown, headhunters see surge in mid-level resumes

Some employees may also have opted for online coding jobs on a freelance basis

Updated On : 20 Jun 2017 | 2:56 PM IST

IT sector job decline talk is motivated: Ravi Shankar Prasad

He said that it already being an industry with an estimated worth of $400-450 billion

Updated On : 16 Jun 2017 | 4:36 PM IST

IT sector will become $1 trillion economy by 2022, says Ravi Shankar Prasad

Indian IT sector has crossed Rs 10 lakh crore in revenue and exports have crossed Rs 7.5 lakh crore

Updated On : 16 Jun 2017 | 4:23 PM IST

No downturn in IT sector: Ravi Shankar Prasad

The minister's statement comes against the backdrop of the media reports

Updated On : 05 Jun 2017 | 12:16 AM IST

IT job cuts: Up to 600,000 engineers likely to be laid off in next 3 years

Executive search firm Head Hunters India today said the job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years due to under-preparedness in adapting to newer technologies. "Contrary to media reports of 56,000 IT professionals to lose jobs this year, the actual job cuts will be between 1.75 lakh and 2 lakh per year in next three years, due to under- preparedness in adapting to newer technologies," Head Hunters India Founder-Chairman and MD K Lakshmikanth told PTI, analysing a report submitted by McKinsey & Company at the Nasscom India Leadership Forum on February 17. McKinsey & Company report had said nearly half of the workforce in the IT services firms will be "irrelevant" over the next 3-4 years. McKinsey India Managing Director Noshir Kaka had also said the bigger challenge ahead for the industry will be to retrain 50-60 per cent of the workforce as there will be a significant shift in technologies. The industry employs 3.9 million ...

Updated On : 15 May 2017 | 8:19 AM IST

Karnataka govt will heed to demand for unions in IT sector, says Minister

If the workers bring it to the notice of the state govt

Updated On : 01 May 2017 | 4:05 PM IST

Small deals likely for IT biggies as contracts worth $14 bn await renewal

India IT services companies such as TCS, Infosys, Wipro, HCL Technologies and Tech Mahindra may see deal sizes growing smaller as global firms look at renewing outsourcing contracts over the next year.Firms such IBM and Accenture, which have an edge over newer deals in digital and cloud, may also see reduction in duration of contracts. For Indian IT players, 16 important deals from customers including Scandinavian Airlines, Ford and Toyota Motors Europe are slated to be renewed by June 2018, says ISG, a global technology research and advisory firm. These deals were worth up to $ 14 billion. Traditionally, large Indian IT firms have signed outsourcing contracts that yield them annual revenue of as much as $ 200 million as clients looked to cut IT costs as they aimed at profitability.As automation increases to service repeatable tasks in maintenance and customers shifting their technology budgets to digital - making their applications work on smartphones with better use interfaces and .

Updated On : 18 Apr 2017 | 1:14 AM IST

Losing influence? IT sector index weight in Sensex hits five-year low

The continuing slippage at information technology (IT) companies is making the sector less important in the scheme of things at Dalal Street. The sector has slipped to third position, behind fast moving consumer goods (FMCG) companies in sectoral weightage on the BSE exchange's benchmark Sensex, from second most influential sector till a year before. Tata Consultancy Services (TCS), Infosys and Wipro, part of the 30-share index, together now have 12.7 per cent weight in the Sensex, sharply down from 17.8 per cent at the end of the March 2016 quarter (see chart).The sector weight will fall further if Thursday's stock price is taken into account. IT companies, led by Infosys (down four per cent), were among the biggest losers on the day. Banks and financials continue to lead the charts, with 27.1 per cent weightage in the index, up from 24.5 per cent at the end of the March 2016 quarter.Analysts attribute this to IT companies' poor performance on the bourses and their lower valuation ...