Page 25 - It Services

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

IT services firms look to change staff mix by hiring more freshers

The growing share of mid-level employees is said to be one of the major reasons why these companies are facing margin pressure

IT services to remain significant to India's job environment: TCS CEO

He added that this is on account of the demand for talent and services, which is "only going to explode given the role that technology is playing today and in future"

Infosys to acquire US-based firm Kaleidoscope Innovation for $42 million

Will pick up 100% stake in a deal that is expected to close during the second quarter of fiscal 2021

Aug services PMI jumps to 41.8 vs 34.2 in July; still in contraction zone

August was the sixth straight month the index was sub-50, the longest such stretch since a 10-month run to April 2014

NIIT Tech targets $1 bn revenue a year, plans to expand into healthcare

Current revenue at $600 mn; firm offers no timeline for $1 bn goal but says it will be achieved organically without any acquisitions

No material changes planned in strategy, vision: Sudhir Singh, NIIT Tech

We believe that we will see a very significant uptick in both revenues and margins on a sequential basis, says CEO SIngh

Persistent Systems' O'Connor steps down as CEO, cites personal reasons

O'Connor worked as a senior executive at IBM's internet of things (IOT) division before joining Persistent Systems.

Mindtree PBT more than doubles in Q1; revenues up 4.1% to Rs 1,908.8 cr

Revenue of the firm grew 4.1 per cent year-on-year to Rs 1,908.8 crore during this period though it declined 6.9 per cent sequentially

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

IT services sector may see downturn of up to -3% due to Covid-19: Icra

IT services companies have managed to overcome supply-led challenges through uninterrupted delivery of IT services through work from home model

Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis

Performance review likely to see some retrenchments

Despite poor show in Q4, India Inc's combined dividend payout rises 6.5%

Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.

Covid-19 crisis: $30-billion deal renewal headache for IT companies

Outsourcing deals are either going to be renewed at a lower price or they will be delayed, say experts.

IT firms to face heat as global enterprises put digital projects on hold

Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue generating ventures

IT professionals think worse coming in next 6 months: LinkedIn survey

One in three Indians have reported a decrease in their personal incomes, says 'Workforce Confidence Index' of LinkedIn.

Tech Mahindra Q4 net falls 29%; recommends final dividend of Rs 5/share

The Pune-headquartered company reported Rs 804 crore in consolidated net profit for the March quarter (Q4FY20), a decline of 29.1 per cent on year-on-year (YoY) basis

Hexaware Q1 profit rises 26% to Rs 175 cr; suspends full-year guidance

Net profit rose 26.3 per cent year-on-year at Rs 175 crore while it increased 4.3 per cent on a sequential basis for January-March.

Coronavirus: IT firms ask clients abroad to allow staff to work from home

Currently, while many IT employees are working from home, a significant majority has to come to office as companies don't allow these staffers to work from home

Covid-19: India's outsourcing sector struggles with work-from-home scenario

That raises questions about whether one of India's showpiece industries can function smoothly amid the coronavirus crisis.