Page 16 - It Services

Infosys gave capital return of over Rs 24,100 cr in FY22, says Nilekani

Board recommends final dividend of Rs 16 per share, which along with interim leads to a total of Rs 31 per share in FY2022.

RBI warns of risks from cross-border outsourcing of IT services

The RBI's observations come at a time when it is considering a mandate for domestic processing of payment transactions in order to ring-fence India's local payment systems.

RBI proposes norms for outsourcing of IT services by banks, NBFCs

Regulated entities (REs) will not require prior approval from the central bank for the outsourcing of IT and IT-enabled services

IT analysts in wait-and-watch mode as experts see mild recession in the US

Analysts predict that if a slowdown does happen by 2022-end, the impact will be seen only in second half of FY23

Tech funds run into rough weather in CY22, IT firms' stocks do well

Indian IT services sector is expected to benefit from digital transformation, particularly aided by cloud adoption.

Engineering R&D segment to outperform IT services players in FY23

Barring Cyient, valuations of most ER&D firms on the expensive side

Companies looking to accelerate digital transformation: HCL's Roshni Nadar

The global clients have a razor-sharp focus on accelerating digital transformation with efficiency, HCL Technologies Chairperson Roshni Nadar Malhotra said

Cognizant Q1 meets Street estimates; net income rises 11.5% to $563 mn

Net income was up 11.5 per cent year-on-year, but down from $576 million in the quarter ended Oct-Dec 2021.

After a weak Q4, India's top IT services companies lose traction on bourses

Industry weighting in Nifty50 declines to 15.7%; lowest since Q2FY21

The making of an economic juggernaut

It is a book that boasts of the recommendation of two stalwarts of the industry, N R Narayana Murthy and N Chandrasekaran, and is sure to age well

Suryoday SFB partners Kyndryl to drive digital, IT transformation

Collaboration will enable Suryoday Bank to provide enhanced security, availability, and manageability for core IT and banking applications

IT companies may not follow HCL Technologies on freshers' salary

Though HCL Tech has bit the bullet, industry majors, which too are battling high attrition, have not given any such signal, so far.

Tata Consultancy Services head doubles down on $50-bn revenue target

Since April 1, TCS has changed its organisational structure to align with its strategy of focusing on the growth and transformation agenda.

Mindtree net profit jumps 49% YoY in Q4; revenue up 37.4% to Rs 2,897 crore

The Mindtree management declined to comment on reports of a likely merger with group company Larsen & Toubro Infotech.

Attrition at TCS touches record high; it may get worse, warns management

Despite high employee additions and supply-side challenges, the management reiterated that it aspires to have a margin in the range of 26-28%

Accenture Q2 results beat estimates, warns of impact from Ukraine conflict

Accenture's results continue to show that the momentum for digital transformation and shift to cloud services is growing strong.

Mindtree starts return programme for techies on minimum two-year break

The programme is open to all professionals looking to return to the workforce, the majority of them are expected to be women.

Nagarro to expand global workforce by 4,500 in coming months

In a statement, the company announced that the size of its workforce has crossed the 15,000 mark

Indian IT sector not impacted by Russia-Ukraine war; in wait-and-watch mode

Analysts say no direct presence in Ukraine; per 60% of the sector's business comes from US, another big chunk from UK, Germany and France

Tech Mahindra enters metaverse with TechMVerse launch, eyes 1,200 clients

TechMVerse will be a separate unit that will have a horizontal play within the company and leverage all the services lines and technology segments that the company has presence in