Page 6 - It Service

TCS has to keep evolving as GenAI technology rises: CEO tells employees

IT services company has to 'keep pace with the times', says K Krithivasan in New Year message

Accenture GenAI offering sees momentum in Q1 FY24, signs $450 mn bookings

The growth trajectory in Q1 for GenAI is of significance for the top IT services players who are eyeing this segment as the next growth area

AI accelerating disruption leads to IT talent shortage, shows survey

With AI accelerating disruption at an unprecedented pace, IT departments are facing a talent shortage, as one in three IT leaders surveyed flagged difficulty in finding qualified talent. It also stated that the current scenario presents a missed opportunity for strengthening business outcomes and talent retention. Ed-tech company Skillsoft in its '2023 IT Skills and Salary Survey' revealed challenges such as skills gaps, talent shortages, and technology transformation are impacting IT departments, with one in three IT leaders facing difficulty in finding qualified talent. "With AI accelerating disruption at an unprecedented pace, the need for workforce training has never been more obvious and consequential. Organisations are at a critical point where they need to be deliberate and proactive about building skills and capabilities -- especially related to AI -- or risk falling behind in the coming year," Skillsoft Chief Information Officer Orla Daly said. Skillsoft's '2023 IT Skills

Wipro, RSA ink new multi-year contract to accelerate cloud migration

The contract will accompany RSA on its journey over the next couple of years to modernise its infrastructure and the use of Cloud technology

Wipro chief growth officer Stephanie Trautman steps down amid restructuring

Under the leadership of CEO and MD Thierry Delaporte, Wipro started the CGO to create a focussed unit to chase large deals

Esconet Tech aims 3-fold jump in revenue to Rs 300 crore by March 2026

IT solution firm Esconet Technologies Ltd is aiming to achieve a three-fold jump in revenue to Rs 300 crore by March 2026 and plans to launch a public issue to raise funds for expansion. The company posted a revenue of Rs 94.97 crore and a Profit After Tax (PAT) of Rs 3.03 crore in 2022-23. In the first half of this year, the company posted a revenue of Rs 71.46 crore and a PAT of Rs 3.05 crore. In a statement, Esconet said it plans to expand its manufacturing capacity comprising high-end servers, workstations and storage systems. It is also expanding its Private Cloud vertical, further strengthening its integrated solutions offerings. "To meet the capex and working capital needs to support expanding operations, the company plans to tap the capital markets -- through listing on NSE Emerge," the company said. Corporate Capital Ventures has been appointed as the book running lead manager to the issue. "Driven by unwavering commitment in providing innovative and reliable solutions to

Realty boost: IT SEZ developers get flexibility to use vacant space

A notification amending the SEZ Rules, 2006, issued by the ministry, said a part of the SEZ could be declared "non-processing area" where free-zone rules would not apply

NYSE-listed Waters Corp invests $16 million in new GCC in Bengaluru

Waters Corporation has about 450 employees in India and plans to hire another 300 for its new GCC in Bengaluru

GenAI, quantum, semiconductors among top technologies for 2024: Capgemini

In 2023, generative AI (GenAI) took centre stage in the global public and business conversation, and raised expectations that technology could catalyse progress in business and society

Warning signs: Over 100 died in mishaps at India's top firms in FY23

The 33 companies had a combined employee strength of 2.9 million. For some companies, though, the employee strength may not include contract labour

IT firm LTIMindtree selected as a strategic partner by Metasphere

Metasphere, part of Grundfos, provides smart network management solutions to the global utility industry

Indian IT industry to be worth $350 bn by 2030: Kris Gopalakrishnan

'High-growth industry' will continue performance despite global slowdown, says co-founder of Infosys

FY24 earnings makeover: IndianOil to MRF, companies rewrite profit playbook

Q2 of 2023-24 saw a profit metamorphosis as standout firms marked the biggest earnings upgrades

Infra push: IT hubs lead surge in price of residential real estate

Hyderabad's Gachibowli logs highest rise in avg prices between Oct 2020 and now

REC inks pact with RailTel to finance KAVACH, other infra projects

REC Limited signed an agreement with RailTel on Thursday to fund KAVACH Train Collision Prevention System along with many other infrastructure projects in the field of telecom, IT and rail signalling. "These projects encompass a wide range of areas, including Data Centre products and services, Telecom & IT products and services, Railways & Metro projects, and the KAVACH Train Collision Prevention System," a statement from RailTel said, adding, that it will fund up to Rs 30,000 crore over the next five years. According to RailTel, the Memorandum of Understanding (MoU) also extends to the possibility of financing overseas ventures related to high-speed rail, metro, IT network, and the upgradation of railway network, as part of bilateral country discussions and infrastructure projects in Southeast Asia and Eastern Africa where RailTel is currently focusing. The MoU was signed by TSC Bosh, Executive Director (Infra & Logistics), REC and Jasmeet Singh Marwah, Company Secretary,

Infosys, Smart Europe ink 5-year pact to redefine e-mobility experience

Infosys said it will leverage its technical expertise and design thinking-led consulting approach to enable Smart Europe GmbH to derive "exceptional value" from software, data, and cloud investments

Tech Mahindra Q2FY24 result: Net profit down 61.6%, revenue drops 2%

This is the biggest fall in net profits over a decade, as the company braced for budget tightening by clients

CMS Info System Q2 net profit up 16%, managed ATM services income grows 26%

CMS Info System Ltd stock closed two per cent higher at Rs 368.75 per share on BSE

IT firms give campus hiring a miss for FY25 amid macro uncertainties

They may consider visiting campuses only after March qtr

I-T moves HC against tribunal for favouring LIC in Rs 5K cr tax cases

The litigation has been filed by the Principal Commissioner of Income Tax, Mumbai, for two claims: Rs 1,838.87 crore and Rs 3,153.97 crore from AY 2014