Page 6 - It Sector

Infosys Q3 results: Net profit rises 11.4% to Rs 6,806 cr, revenue up 7.6%

The company revised its revenue growth forecast upwards to 4.5-5 per cent, from 3.75-4.5 per cent

LTIMindtree Q3 results: Net profit falls 7% to Rs 1,085 cr, revenue up 7.1%

(Reuters) - Indian software services provider LTIMindtree on Thursday reported third-quarter revenue above estimates, propelled by execution of large deals won in previous quarters.

Hailing the freelance economy as it expands across global professions

Freelancers in the United States contribute significantly to the country's economy, with earnings totalling approximately $1.27 trillion in 2023

Most brokerages bullish on TCS post Q3; CLSA upgrades to 'Outperform'

Analysts have mixed views on TCS following its Q3FY25 performance, with several brokerages highlighting the company's growth potential despite near-term challenges

Meity targets $500 bn electronics production by 2030 with detailed strategy

Meity is in the final stages of putting together a production linked incentives (PLI) scheme for electronic components

CRISIL analysis: IT services sector eyes 7-9% growth on BFSI, AI funding

A CRISIL Ratings study of the top 25 firms, accounting for 55 per cent of the Rs 14 trillion IT sector's revenue in fiscal 2024

Goldman Sachs sees Nifty at 27K in 2025, bets on housing, defence stocks

Analysts identified 16 'oversold' stocks, each down over 20%, including Trent, IndiGo, Shriram Finance, and Havells, suggesting they present strong buying opportunities

Stock Market Today: How to trade Nifty IT index post Accenture results?

Stock Market Today: The Nifty IT Index is facing mixed sentiments post the recent Accenture earnings, which might uplift IT stocks temporarily. However, a closer look at the charts suggests caution

Work on to assess AI, job loss from GenAI not intense in India: IT secy

He said under the IndiaAI mission, the government has tried to make a subtle distinction between responsible AI as defined by the West -- which is not expected to be regulated by the government -- and

Working to assess safety of AI; job loss not intense in India: IT Secy

The IT ministry is working on a mechanism to assess safety and trust elements in artificial intelligence (AI) solutions but does not want to start with a regulation as it may hurt innovation in the AI space, a top official said on Thursday. Speaking at CII's Global Economic Policy Forum, Ministry of Electronics and IT Secretary S Krishnan said the government has broadly addressed key regulations barring a couple of the issues like copyright and existential crisis. He said under the IndiaAI mission, the government has tried to make a subtle distinction between responsible AI as defined by the West -- which is not expected to be regulated by the government -- and safe and trusted AI. "Safe and trusted AI is when you do the innovation, try and be responsible about it but there would be an assessment. We will try and see that it is safe and trusted in a manner that works for everybody. That is the other space that we are working on right now. We don't want to start with regulation, and

'AI could replace CEOs': Shankar Sharma cautions IT sector to face reality

While the ace investor acknowledged that AI is still in its nascent stage, it is here like a 'foreign hand' conspiracy theory that has plans to 'snatch food away' from Indian youth's table

Premji Invest buys 1.6% stake in Wipro for Rs 4,757 crore via block deal

Private equity firm Premji Invest on Friday bought a 1.6 per cent stake in IT company Wipro for Rs 4,757 crore through an open market transaction. Billionaire Azim Premji's PE firm through its arm Prazim Trading and Investment Company Pvt Ltd acquired shares of Wipro through a block deal on the National Stock Exchange (NSE). As per the data, Prazim Trading and Investment Company purchased 8,49,54,128 shares, amounting to a 1.62 per cent stake in Bengaluru-based Wipro. The shares were picked up at an average price of Rs 560 apiece, taking the transaction value to Rs 4,757.43 crore. Meanwhile, Azim Premji promoted Prazim Traders sold over 4.49 crore shares of Wipro, while Zash Traders sold 4 crore shares of the company at the same price. Prazim and Zash Traders are the two promoter entities of Wipro. Shares of Wipro rose 0.92 per cent to close at Rs 568.60 apiece on the NSE.

IT shares buck trend; Wipro, Infy, TechM gain 2%; Coforge hits new high

At 12:23 pm; the Nifty IT index was the top gainer among sectoral indices, up 1 per cent, as compared to 0.31 per cent decline in the Nifty 50.

AP emerging as hub for startups, manufacturing, soon to have AI University

Andhra Pradesh offers a highly favorable environment for investments with investor-friendly policies, an extensive coastline, and well-developed road, water, and air connectivity, making it an ideal time for new industries to set up operations, according to Minister for Education, IT, and Electronics, Nara Lokesh. Minister Lokesh met with representatives of the US-India Business Council and Indiaspora. Speaking on the occasion, Lokesh emphasized that under the leadership of Chief Minister Chandrababu Naidu, Andhra Pradesh is rapidly progressing towards development. The state is set to become a hub for startups and manufacturing in the coming days, he said, adding an ecosystem conducive to industry growth is being developed, and the Economic Development Board has been revitalized to streamline approvals without delay. "As part of decentralized development, we have decided to promote the automobile sector in Anantapur, renewable energy in Kurnool, IT, pharmaceuticals, and medical ...

FY25 fresher hiring by IT sector to rise by 20-25%: TeamLease Digital

Hiring will be focused on specialized skills; TCS and HCLTech doubling their focus on hiring specialized skills

Coforge gains 2%, hits record high on Rs 19 per share interim dividend

The company has fixed October 11, as the record date to ascertain the eligibility of shareholders for the payment of the second interim dividend.

Accenture results: Worst behind for India IT; buy selectively, say analysts

Accenture share price: While a strong recovery in discretionary demand may take a few quarters, it is unlikely to worsen further, analysts said after Q4 results

Govt may allow more compute capacity based on requirement: IT secretary

The government may look at creating more "compute capacity" through viability gap funding after building high-tech capability under the Rs 10,372-crore India AI mission, Electronics and IT Secretary S Krishnan said on Thursday. Addressing a Deloitte India event, Krishnan said that India AI Mission has an outlay of about 10,372 crore of which more than Rs 4,500 crore is intended for compute capacity. "Later on, there is a possibility, and we will decide based on how much compute capacity actually gets created in the country. There is a possibility that we would actually support more compute capacity being created on the viability gap funding," Krishnan said. The government has invited bids for the empanelment of entities for providing artificial intelligence services on the cloud under the India AI mission. Under the IndiaAI Mission, supercomputing capacity, comprising over 10,000 GPUs, will be made available to various stakeholders for creating an artificial intelligence (AI) ...

HCLTech tops TIME's World's Best Companies 2024 list among Indian firms

Indian IT firm HCLTech has been named the no.1 India-headquartered company in TIME magazine's World's Best Companies 2024 list. The Noida-headquartered firm has also secured a place in the global top 10 list within the Professional Services category. "This accolade underscores HCLTech's commitment to excellence and innovation. It reinforces our leadership in the industry and our status as a top employer. "Aligned with our purpose of 'Supercharging Progress' and 'Find Your Spark' employee value proposition, we are dedicated to maximizing employee potential, advancing community and social responsibility initiatives and achieving sustainability goals," said Rahul Singh, Chief Operating Officer of Corporate Functions, HCLTech. The World's Best Companies 2024 ranking identifies top-performing companies across the globe on the parameters of employee satisfaction, revenue growth, and sustainability. HCLTech posted a consolidated net profit of Rs 4,257 crore in the June quarter of FY25, u

BFSI on hiring sprint, IT sector stumbles in headcount marathon in FY24

In comparison, BFSI firms hired 172,000 people on a net basis in 2022-23 (FY23), while IT services companies had a net recruitment of 131,000 employees