Page 5 - It Services

HCLTech sees rating downgrade post Q1 results, guidance disappointment

Guidance indicates that margins will remain subdued in Q2FY26, as some restructuring cost will spill over

Motilal Oswal sector of the week: IT services; check stock picks, targets

Growth trends across the India IT sector continue to diverge. While Tier-I companies are likely to post flat to marginal constant currency revenue movement, mid-tier firms are expected to outperform.

TCS Q1 FY26 net profit rises 6%; misses estimate on revenue growth

TCS reports a 6% YoY rise in net profit for Q1 FY26, but misses revenue growth expectations. The company's revenue grew by just 1.3%, falling short of analysts' forecasts

Changing skill demands: Era of big bench strength at IT firms may be over

Companies such as Infosys, Wipro, Cognizant, and Tech Mahindra have maintained their IT utilisation rates at around 85 per cent over the past couple of years

High input costs weighed on profit margins in FY25, says RBI study

The OPM of manufacturing firms moderated by 20 basis points (bps) from 14.4 in Fy24 to 14.2 per cent in Fy25

Growth to continue despite macro tensions: Infosys Chairman Nandan Nilekani

Infosys chairman Nandan Nilekani says AI disruption and GCC growth pose no threat, calling them innovation arbitrage opportunities as the firm focuses on scaling talent

IT union AIITEU slams TCS' 225-day billability and 35-day bench policy

The union calls TCS' new billability mandate and bench limit an anti-worker move that shifts responsibility from management to employees amid rising utilisation rates

Freshworks appoints Ian Tickle as Chief of Global Field Operations

Tickle, previously interim CGFO and head of international sales, will lead Freshworks' global field operations and growth strategy, reporting directly to CEO Dennis Woodside

Manish Gupta named as new president, MD for Dell Technologies India

Dell Technologies on Friday announced the appointment of Manish Gupta as president and managing director for India, effective immediately. Gupta will lead the company's growth initiatives and drive sales in India, a company statement said. He will report to Peter Marrs, president, Asia Pacific Japan & Greater China (APJC), Dell Technologies. Gupta takes over from Alok Ohrie, who is leaving the company to concentrate on personal pursuits, the company said. Gupta brings in over 25 years of experience in the IT industry, including over ten years in leadership positions at Dell Technologies. Before his current role, he headed global alliances, channel partnerships, and strategic planning for the APJC region. He has also held the position of vice president of the Infrastructure Solutions Group in India. Upon his appointment, Gupta said: "India presents immense opportunities, with businesses striving to harness technology for agility and competitive advantage. "With a talented team, a

Debashis Chatterjee retires, Venu Lambu named CEO & MD of LTIMindtree

Chatterjee, who led the firm through its merger and growth phase, will be succeeded by Venu Lambu, former CEO of Randstad Digital, effective 31 May 2025

Bengaluru tech workforce crosses 1 mn, ranks among top 12 global hubs: CBRE

Bengaluru is among the top 12 global technology hubs with a tech workforce in the IT city crossing the 1 million mark, according to CBRE. Real estate consultant CBRE has released a report, 'Global Tech Talent Guidebook 2025', which highlights global tech talent dynamics across 115 markets. The report evaluates these markets based on the availability, quality, and cost of tech talent and classifies them into three categories: Powerhouse (12 markets with large, deep, and highly competitive talent pools), Established (63 mature markets with consistent talent pipelines), and Emerging (40 growth-focused markets with improving capabilities). CBRE noted that the report identifies "Bengaluru as among the top 12 global tech powerhouses." Beijing, Boston, London, New York Metro, Paris, San Francisco Bay Area, Seattle, Shanghai, Singapore, Tokyo and Toronto are the other tech powerhouses. "Bengaluru is the largest tech talent market in the Asia-Pacific region, along with Beijing and Shanghai

TCS probes role in cyberattack on UK retailer M&S after £300 mn profit hit

TCS is investigating if it was the entry point in a cyberattack on UK retailer M&S, which led to major disruptions and data theft, potentially costing the company £300 million (₹3,318 cr) in profit

Refineries to banks: Here are the sectors that topped investments in FY25

In FY25, sectors like refineries, telecom services, and iron and steel led capital investments in India

Accenture pushes back hike cycle to June, to promote 15,000 in India

Accenture shifts appraisal cycle to June citing economic uncertainty and US contract cancellations; 50,000 employees to be promoted globally including 15,000 in India

TCS' brand value up 28% to $57.3 billion, says Kantar BrandZ report

TCS has jumped 28 per cent in brand value to $57.3 billion, securing the 45th rank globally in Kantar BrandZ 2025, aided by AI-led offerings and global sponsorships

Cognizant says winning large and mega deals regularly helping growth

With 24 large deals won last year and four in Q1, Cognizant says its ecosystem for securing mega contracts is key to regaining a top-four global IT services ranking

LTIMindtree signs $450 mn deal, its largest yet, with agribusiness firm

Seven-year contract includes AI-powered model for application management, infrastructure support and cybersecurity; firm sees boost in shares after announcement

Wipro bags 5-year deal to transform, manage Vorwerk's IT infrastructure

In a BSE filing, Wipro said that the partnership will focus on consolidating Vorwerk's business applications, infrastructure, and cybersecurity into a unified monitoring platform

IT companies using AI, GenAI to reduce client costs as budgets squeeze

This marks a shift in how cost savings are achieved in traditional IT projects, popularly known as the run-side

TCS sees sharp decline in share of Tata group's market capitalisation

TCS is expected to account for around 55 per cent of the combined net profit of 23 listed companies in FY25 down from its all-time high contribution of 106 per cent in FY20 and 64 per cent on FY23