It Services Industry

AI-first startups challenge India's $264 billion IT services giants

AI-native startups are reshaping India's IT services landscape as automation drives efficiency and innovation, with the sector projected to touch $400 billion by 2030

High single-digit growth to still elude IT firms for some time: Cognizant

Cognizant's Surya Gummadi predicts IT services growth will return once enterprises deploy AI across technology stacks, though macro dynamics may delay this for some time

IT stocks brace for more pain post muted Q1 show; analysts share strategy

The Nifty IT index has fallen by 18.3 per cent so far this year, the worst among key sectors. During the same period, Nifty has risen by 4.7 per cent

TCS stock hits 33-month low; Jefferies, YES Securities' take on what's next

TCS shares extended their decline for the fourth consecutive session, slipping 4 per cent after it announced plans to lay off roughly 2 per cent of its global workforce

'No bulk hiring anytime soon' as IT companies navigate tricky ground

TCS and Infosys did most of the net hiring in the last financial year, followed by Tech Mahindra while Wipro added very few people

Pyramid or diamond? Indian IT companies brace for structural change

Traditionally, IT services firms followed a pyramid structure, with a broad base of fresh graduates supporting scalability and a large bench strength ready for deployment

Indian IT services industry to see 4-6% revenue growth in FY26: Icra

IT sector growth is expected to remain subdued in the near term due to global economic headwinds and policy uncertainties in the US and Europe

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

Indian ITeS Industry and GenAI Conundrum as adoption remains under 40%

According to the latest BCG report 'The GenAI Adoption Conundrum', over 80 per cent of developers acknowledge its advantages, citing increased productivity and efficiency

Eyeing level playing field to cater to nation's aspirations: Priyank Kharge

The minister for IT and biotechnology and rural development and Panchayat Raj, government of Karnataka, said the state should get its share of such opportunities as it is a hub for IT services exports

Why are Indian IT service providers not tapping into the domestic market?

While the 'Make in India' initiative has boosted domestic smartphone manufacturing, the $200 billion Indian IT services industry remains focused on international markets over the domestic one

Q2 results: Slow growth bottoming out in the top five IT companies

The Bengaluru-based firm for the second consecutive quarter upped its guidance. It now expects FY25 revenue to grow in the range of 3.75-4.5 per cent. From the earlier 3 - 4 per cent

Wipro Q2FY25 results: Net profit rises 21% to Rs 3,201 cr, revenue down 1%

Revenue for the March quarter was marginally down by 1 per cent from the year-ago period to Rs 22,300 crore

Indian IT services industry to deliver 4-6% revenue growth in FY25: ICRA

The Indian IT services industry is likely to register a second consecutive year of muted revenue growth, estimated at 4-6 per cent in FY2025, but the operating profit margin is expected to be healthy, according to ICRA. The persisting challenges and tepid topline growth notwithstanding, ICRA has forecast the industry's operating profit margin (OPM) at a healthy about 22 per cent in FY2025, with attrition levels having declined considerably and seen stabilising over the near term. Despite expectations of continued subdued growth, ICRA has maintained its "stable outlook" on the Indian IT services industry, led by a well-established business position, expectation of healthy earnings and cash flow generation, and strong balance sheets of sector players. "ICRA expects FY2025 to be the second consecutive year of muted revenue growth (for its sample set companies), estimated at 4-6 per cent, given the lower discretionary technological spends by clients amidst persistent macro-economic ...

Happiest Minds sees need for strategy alignment as customers turn cautious

For Happiest Minds, Q1FY25 was one of the best in terms of growth since the company got listed in September 2020

US recession fears hyped, but any slowdown may impact India's economy

The US economy expanded 2.8 per cent in the second quarter and 1.4 per cent in the first quarter of 2024

Nasscom urges govt to have simple and single interpretation on compliance

Nasscom was reacting to the Rs 32,400 crore goods and services tax (GST) demand from India's second-largest IT services firm, Infosys

Tech outage: Airlines rush to get back on track after global tech disorder

Transport providers, businesses and governments on Saturday are rushing to get all their systems back online after long disruptions following a widespread technology outage. The biggest continuing effect has been on air travel. Carriers cancelled thousands of flights on Friday and now have many of their planes and crews in the wrong place, while airports facing continued problems with checking in and security. At the heart of the massive disruption is CrowdStrike, a cybersecurity firm that provides software to scores of companies worldwide. The company says the problem occurred when it deployed a faulty update to computers running Microsoft Windows, noting that the issue behind the outage was not a security incident or cyberattack. Here's the Latest: Britain's transport system still trying to get back on track LONDON Britain's travel and transport industries are struggling to get back on schedule after the global security outage with airline passengers facing cancellations and de

Q1 Preview: Infosys to lead IT-pack, may see profits rise up to 10% YoY

Infosys is expected to lead the tier 1 Indian IT universe with the strongest growth, led by ramp-ups of multiple mega-deals, and a low base effectively providing one per cent kicker to June 2024

Cognizant settles CFO lawsuit with Wipro; pays Rs 4 crore in settlement

The settlement resolves all pending disputes between Dalal and Wipro, said the company in a statement