Page 13 - It Services

Similar P/E for cement & IT 'extraordinary': Kotak Institutional Equities

Brokerage says IT services firms score over cement on key parameters such as return on average capital employed, free cash flow to Ebitda ratio, dividend, and buyback payouts vis-a-vis PAT

53% IT professionals may resign to pursue new job within next year: Report

More than half of IT professionals (53 per cent) are likely to pursue a new position within the next year due to better compensation, a lack of training and development and a lack of work-life balance, according to a report. About 66 per cent of IT decision makers see skills gap in their teams even as there is a 10 per cent decrease from last year, according to Skillsoft's 2022 IT Skills and Salary Report. However, the industry is facing another pressing challenge centred around talent attrition, with more than half (53 per cent) of all respondents extremely or somewhat likely to look for a new job in the next 12 months, it added. Skillsoft's 2022 IT Skills and Salary Report based on a survey with nearly 8,000 respondents. The report further revealed that over the past year, the workplace has been defined by employee-led "movements", namely the Great Resignation and "quiet quitting". Meanwhile, the pace of digital transformation and lack of enough technical resources have pushed m

Salary hikes and bonuses start to come down for Indian IT services sector

FY24 hikes will stay at lower levels than the spike seen in FY22 and 23

Tech Mahindra to expand in Gujarat, will hire 3,000 people in five years

As part of NXT.NOW™ framework, Tech Mahindra focuses on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of its customers

Infosys Q2 net profit rises 11% to Rs 6,021 cr, raises its FY23 guidance

Bloomberg had estimated revenue to be Rs 36,564 crore and net profit at Rs 5,902 crore

Mindtree Q2 net profit rises 27.5% to Rs 508 cr; revenue up 31.5%

Mindtree signed total contract value (TCVs) worth $518 million, taking its first half of FY23 TCV to $1 billion for the first time ever

HCLTech revenue growth guidance raised to 13.5-14.5%; Q2 profit up 7%

Revenue grows 19.5% to Rs 24,686 crore in Q2

Accenture's outsourcing guidance bodes well for big Indian IT cos: Analysts

Analysts underscored that Accenture's August quarter (Q4FY22) results reflected softening of demand for IT services, and thus remain 'cautious' on the sector

Accenture warns of forex hit in 2023 amid strong IT services' demand

US firms with large overseas operations such as Microsoft and Salesforce have in recent months flagged the toll from the strongest greenback in two decades

TCS changes its hike structure, does away with anniversary hikes

The changes come at a time when the industry is seeing demand constraints from its majority market and budgets are under pressure and deals are taking time to close

Sify aims Rs 3,500 cr revenue this fiscal, bullish on cloud services

IT services company Sify Technologies is bullish on the cloud services business and aims to clock revenue of Rs 3,500 crore in the current fiscal, a senior official of the company said on Saturday. Sify Technologies CEO Kamal Nath said that the company is expanding its data centre footprint and partnered with Hewlett Packard Enterprise for implementing its Greenlake technology to provide cost efficiency as well as predictability in the cost of cloud computing requirements of business organisations. Nath said that the company is seeing huge opportunities in the adoption of the hybrid cloud business. "Hybrid cloud promotes our data centre business, network business. It promotes all our business. We are already at a run rate of Rs 3,000 crore. We are eyeing Rs 3,500 crore (this fiscal)," Nath said on the sidelines of the CIO and Leader Conference here. The company had revenue of Rs 2,702.6 crore in 2021-22. In the first quarter ended June 30, 2022, the company's revenue grew 19.5 per

CAMS promoter entity pares 3.79% stake for Rs 428 crore in IT company

Computer Age Management Services Ltd (CAMS) promoter entity on Friday divested a 3.79 per cent stake in the IT services company, garnering Rs 428 crore through an open market transaction. Great Terrain Investment Ltd offloaded a total of 18.55 lakh shares, amounting to a 3.79 per cent stake in the company, as per bulk deal data available with BSE. The shares were sold at an average price of Rs 2,306.18 apiece, taking the transaction value to Rs 427.99 crore. However, the buyer(s) of the shares could not be ascertained. As of the June quarter, Great Terrain Investment Ltd held a 23.74 per cent stake in CAMS, a shareholding pattern showed. CAMS shares fell by 5.48 per cent to close at Rs 2,250.10 on BSE.

Financials lead earnings in Q1; metal & mining, IT firms among laggards

BFSI companies together accounted for 48 per cent of the incremental growth in corporate profits on a year-on-year (YoY) basis in the quarter

Raking in the moolah: CEO earnings up in tandem with profits of companies

JSW Steel chief Sajjan Jindal top-earning CEO in FY22 with Rs 134.8 crore, up 83.7%

IT industry's 'people' conundrum may delay its revenue growth targets

The current talent crisis may delay the industry's efforts to move up the value chain by delinking headcount and revenue streams

Cognizant Q2 profit up 12.7% at $577 mn, lowers revenue guidance

Revenue was at $4.9 billion, up 9.5 per cent in constant currency on a year-on-year (YoY) basis

Infosys disappoints on profit, ups FY23 revenue growth guidance to 14-16%

Its net profit for Q1FY23 was below expectations at Rs 5,360 crore, up 3.2 per cent year-on-year (YoY) but was down 5.7 per cent sequentially

'Have enough headroom to improve margins going ahead,' says Wipro CFO

The margin for India's fourth-largest IT services firm declined 200 basis points over the previous quarter.

TCS is UK's no.1 software and IT services company once again: Report

Tata Consultancy Services (TCS) said on Monday it has been ranked number one by revenue among the top 30 suppliers of software and IT services (SITS) to the UK market by industry analyst firm

Big Tech games system many times: Chandrasekhar after Uber Files report

Chandrashekhar added that innovation would grow along with a citizen's right to open a trusted and accountable Internet under the Modi government.