Page 5 - It Services Industry

Faqir Chand Kohli: All you should know about the 'Father of Indian IT '

Kohli was the founding chief executive of sector leader TCS and pioneered the country's 'Technology Revolution' which helped India build its USD 100 billion IT industry

Making short-term margin trade-offs to accelerate growth: Cognizant CEO

Strong performing employees will be rewarded for what they have done, he says

Early bird results show unlocking gains, net profit of 104 firms rises 9.8%

Cement makers and metal producers clearly show the impact of an uptick in prices of their products and a fall in costs boosting their profitability

TCS surpasses Accenture to become most-valuable IT services firm globally

At the last closing price of Rs 2,825, TCS was valued at $144.73 billion, (Rs 10.6 trillion), while Accenture is currently at $142.4 billion

Wipro to consider share buyback proposal, decision on 13 Oct board meeting

Wipro is the second mega Indian IT services firm to consider a buyback programme after market leader TCS

Cash-rich IT service firms on a shopping spree, eye inorganic expansion

The top four Indian IT firms have cash reserves of nearly $15 billion

HCL Technologies to acquire Australia-based firm DWS for $116 million

The transaction is expected to close in December 2020, subject to closing conditions, including regulatory approvals

HCL Technologies to acquire Australia-based firm DWS for $116 million

The transaction is expected to close in December 2020, subject to closing conditions, including regulatory approvals

Mid-sized IT services companies get Cloud, cost-efficiency boost

In the quarter ended June, these companies have outperformed top-5 IT services players in the country on revenue and profit metrics

IT services sector's revenues may contract up to 3% in FY21: Icra

In its report, domestic rating agency Icra also said that the profit margins for the sector will go down as the growth slows down

Hexaware plans voluntary delisting, board to discuss proposal next week

Analysts see delisting as a move towards making the company leaner before any further step of a merger or complete

Exports likely to improve in May, contraction expected to be 30-35%: Goyal

Addressing the Digital Summit on Exports organised by the Confederation of Indian Industry (CII), Goyal said he expects the fall in exports to narrow to 8-10 per cent in June.

Top 10 biz headlines: IT firms on cost-cutting, PE players' post-Covid plan

Here are top 10 business headlines on Wednesday

Revenue bites: IT firms go aggressive on cost-cutting amid Covid-19 crisis

Travel expenses trimmed and salary hikes put on hold as industry fights slowdown and demand uncertainty

Coronavirus scare: IT services firms draw business exigency plans

With uncertainties around growth outlook, most companies are likely to go slow on their payback plans to shareholders

Coronavirus impact: Infosys revenue growth likely to decline in FY21

However, the IT services firm is better-placed to handle the slowdown arising from COVID-19.

India's IT services and business to grow 6.9% to $13.3 bn this year: Report

According to the IDC's report, the IT and Business Services market is further expected to grow annually by 6.8% to be valued at $14.2 billion by December 2020

Mid-cap IT firms stumble through Q1 over client pressure, H1B visa costs

Barring Mphasis, the performance of most companies has been lacklustre, as client spending took a major setback for these vendors

Automotive sector becomes the new sweet spot for IT services firms

Most of the IT services players are seeing a spike in demand from the sector.

Big deals come with bigger labour costs for Indian IT services companies

Almost every large cap and midcap IT services player has reported record deals this quarter.