Page 6 - It Sector

Nifty IT at 9-month low; brokerages flag weak earnings outlook for sector

Among individual IT stocks, Infosys slipped over 5 per cent in intraday deals on Wednesday, after Morgan Stanley downgraded the stock to 'equal weight', and preferred TCS.

Indian IT leaders confident of cyber resilience despite failures: Study

Most IT leaders are confident about their cybersecurity resilience measures, even though a significant number of Indian organisations have experienced cybersecurity failures in the past 12 months, a study has found, showing a disconnect between perception and reality. According to a study by cloud security firm Zscaler, 67 per cent of Indian organisations experienced a cybersecurity failure in the past 12 months. However, a surprising 97 per cent of Indian IT leaders believe their current cyber resilience measures are effective. Further, the study revealed a critical gap: while confidence is high, actual preparedness for modern cyberattacks, especially those leveraging Artificial Intelligence (AI), is lagging. The report indicates that although 57 per cent of Indian IT leaders acknowledge cyber resilience as a top priority for their leadership, this recognition isn't translating into adequate funding or proactive strategies. This lack of tangible support is further compounded by th

K'taka IT union calls for mass gathering of employees to press for demands

The Karnataka State IT/ITeS Employees Union (KITU) has called for a mass gathering of IT sector employees on March 9 here demanding stricter enforcement of labor laws and a healthy work-life balance. With the protest, the union aims to address concerns over excessive working hours, lack of overtime compensation, and the expectation for employees to be available beyond official working hours. The gathering is being organised under the slogan "A Healthy Work-Life Balance is Every Employee's Right". In a statement, KITU stated on March 13, 2024, that a memorandum was submitted to the Labour Minister, alleging that IT/ITES companies are not compensating overtime wages and are extending work hours beyond statutory limits. The union urged the government to investigate actual working hours and overtime payments. "But even after one year of multiple meetings and protests, there has been no concrete effort from the Government to regulate the working hours by ensuring the strict ...

Hiring by GCCs likely to grow nearly 27% in FY26, to outpace IT again

Demand for domain experts, specialised skillsets the trigger

India to have its own GPUs in next 3-4 years, says Ashwini Vaishnaw

The India AI Mission was launched with an initial target of 10,000 GPUs. It was approved in March last year with an outlay of ₹10,738 crore

Defensive sector weightage in Nifty 50 declines to 15 year low

Underperforms in falling market for first time in over 20 years

Skilling and upskilling services gain traction among IT services firms

Infosys announced a deal with German tech giant Siemens AG to boost its digital learning initiatives with GenAI

Pressure on operating margins may have forced Cognizant to defer pay hikes

The move, for the second consecutive year, comes even as the company said last month that its outlook for the healthcare and financial services business had improved for this financial year

Maharashtra bets on AI with M-Hub, innovation centre in Navi Mumbai

Fadnavis, who first became chief minister in 2014 and is now in his second term after a break, said the state will launch a startup incubator called M-Hub

Hiring sentiment to rebound in H1 2025 after a lull, IT jobs in focus

However, talent retention remains a major concern, as 42 per cent of companies foresee the highest attrition rates within IT roles

Indian IT sector may see low single-digit growth in FY25: Nasscom

Revenue likely to cross $300 bn in FY26, says Nasscom; 126,000 jobs added in FY25

IT sector may see cautious salary hikes amid economic headwinds: Experts

Salary increments in India's USD 250 billion IT services sector are projected to be moderate in fiscal year 2025, as companies navigate a complex landscape of global economic uncertainties, evolving skill demands, and the increasing adoption of artificial intelligence (AI), according to experts. Industry experts predict an average wage increase of 4-8.5 per cent, a notable step down from previous years, signalling a shift towards more pragmatic compensation strategies. "The outlook for salary hikes this year is quite cautious," noted Krishna Vij, VP, TeamLease Digital. "Industry players are looking at increments in the 4 per cent to 8.5 per cent range, which is lower than what we've seen in previous years. This slowdown is largely due to global economic challenges, reduced discretionary spending, and shifting business priorities." Companies are being more conservative with their salary budgets, and many have even pushed their appraisal cycles beyond the usual April-June period, she

TCS, Salesforce tie up to drive AI power in manufacturing, semiconductors

Tata Consultancy Services (TCS) on Thursday announced a new collaboration with Salesforce to help customers in the manufacturing and semiconductor industries drive value from artificial intelligence. As part of this collaboration, TCS launched three initiatives. These include Semiconductor Sales Accelerator for increasing sales with data-driven insights; Seller for the Future for providing near real-time insights, predictive analytics, and personalised recommendations; and Digital Field Service to equip technicians on field with real-time information, predictive maintenance insights, and optimised scheduling. "The collaboration will leverage the combined industry expertise, AI, and cloud capabilities of TCS and Salesforce to help manufacturers and semiconductor chipmakers to unlock data-driven insights for smarter selling and exceptional service," according to a release. One of the key challenges for organisations in their AI adoption journeys is to unlock the true value of their ..

After recent layoffs, Infosys defers internal assessments for trainees

Close on the heels of an outcry over recent layoffs of more than 300 freshers in its Mysuru campus, Infosys has now postponed, by a week, internal assessments scheduled for trainees. The company has, however, asserted that the deferment is aimed at giving them additional time for preparation. IT employee union Nascent Information Technology Employees Senate (NITES), meanwhile, claimed that the assessment meant for 800 trainees was postponed due to its intervention, "unwavering fight against unfair layoffs", as well as government action. Countering this, Infosys, in a statement, said it had not received any requests from the government or external parties to postpone assessments. "We are deferring our assessments by a week to provide additional preparation time for our trainees," Infosys said. Last week, the Bengaluru-headquartered IT services company had laid off over 300 freshers who underwent foundational training at its Mysuru campus but could not clear internal assessments aft

Booze breaks & hangover leave: Japan's IT firm is redefining work culture

Trust Ring Co, an Osaka-based IT company, believes that a little fun can go a long way in keeping employees happy

Wipro bags multi-million dollar deal from Etihad Airways for IT upgrade

IT services company Wipro on Thursday announced that it has been selected by Etihad Airways -- the national airline of the United Arab Emirates -- to lead its comprehensive technology modernisation. Wipro did not divulge the financial details of the five-year contract. "Wipro wins multi-million-dollar deal by Etihad Airways for IT transformation and cost optimisation," the Bengaluru-headquartered company said in a release. Wipro will ensure seamless migration of legacy systems and improve operational efficiency across key areas, including workplace, network, infrastructure, and service management. Wipro FullStride Cloud will deliver a customised cloud-based solution that will provide Etihad Airways real-time insights into their resource utilisation and improve operational agility and scalability for their global operations. "Wipro will also integrate Generative Artificial Intelligence (GenAI) modules across the IT framework -- from automation of data centres to conversational supp

India's semiconductor market to grow at 13%, reach $103 bn by 2030: IESA

The report calls for the continuation of the semiconductor incentive scheme beyond the initial $10 billion allocation to achieve India's manufacturing ambitions

India's AI infrastructure falls short, needs more investments: VCs

Concerns over India's AI readiness come amid global developments, such as China's DeepSeek open-sourcing large language models (LLMs)

Quality stocks fairly valued, avoid low-growth bubbles: PGIM India MF CIO

Earnings growth may face downward revisions, leading to market volatility and drawdowns. However, the medium- to long-term outlook for the equity markets remains healthy

Explained: What are foundational models, examples of common ones?

Foundational models are a form of artificial intelligence models that can perform a wide range of tasks