Page 6 - It Services

Top IT services companies likely to focus on tiered hiring strategy

The salary of a fresher engineer joining the IT services sector starts at around Rs 3.5 lakh per annum. Whereas, freshers who get selected through this tiered framework can get 6.25-12 lakh per annum

Infosys ranked 74th most valuable global brand in Kantar BrandZ report

Infosys has secured a spot among the 100 most valuable brands in the world, according to Kantar, the Bengluru-headquartered IT services company said on Wednesday. In its annual 'BrandZ Most Valuable Global Brands' report, Infosys is ranked as the 74 most valuable brand in the world and ranked as the 20 most valuable global B2B (business to business) technology brand, according to a release. The Kantar BrandZ recognition is a validation of the client trust that Infosys has earned, and the relevance of its capabilities, especially in domains like enterprise AI where technologies like generative AI and cloud continue to evolve, the release added. **** CredAble raises Rs 3 crore from SIDBI * Fintech firm CredAble on Wednesday said it has raised Rs 3 crore in debt funding from SIDBI to scale up its operations and extend affordable financing solutions to MSMEs and women-led businesses in India. The funding from SIDBI will further accelerate the development of new market-leading financ

IT firms acquire niche players in ER&D to generate new revenue streams

Cognizant's acquisition of Belcan for $1.3-billion earlier this week as well as Infosys's dual acquisitions of in-tech for $480 million

NITES seeks probe from Labour Ministry as Infosys delays new hires

IT sector employee union NITES has urged the Ministry of Labour and Employment to probe repeated delays in the onboarding of over 2,000 campus recruits by tech major Infosys. Nascent Information Technology Employees Senate (NITES) alleged that the delays have persisted for more than two years, and caused significant hardship for the affected professionals, leaving them 'in a limbo'. Infosys did not comment on the matter. Harpreet Singh Saluja, President of Nascent Information Technology Employees Senate (NITES), In a statement, alleged that Infosys' actions constitute a "serious breach of trust" with these young professionals. "Many had turned down other job offers in good faith, relying on Infosys's offer letters. Now, they face financial hardship and uncertainty due to the lack of income and a clear onboarding timeline," he said. The union has written to the Ministry of Labour and Employment seeking an investigation into the matter, to ensure that Infosys fulfills its obligation

Prodapt Solutions aims to clock $1 bn revenue in 5-6 yrs: CEO Harsha Kumar

Witnessing a 25 per cent year-on-year growth rate, Prodapt Solutions India Pvt Ltd has targeted to garner revenues of USD 1 billion over the next five-six years, a top official said on Wednesday. The company, an information technology service and consulting provider, was also looking at increasing the employee base to over 10,000 in the next few years, Chief Executive Officer Harsha Kumar said here. With a majority of revenues contributed from North America, Canada, Latin American countries, and Europe, Kumar said Prodapt was also looking at entering new markets like Japan and Middle Eastern countries. Prodapt currently has an employee base of 6,000 globally of which 4,500 are based out of India. "The target revenue of USD 1 billion is in about 5-6 years. Significant investments are going on for business development, (entering) newer markets," Kumar told reporters. Declining to reveal any figures, Kumar said the company has been recording a growth of CAGR 25 per cent year on year.

Randstad Digital eyes GCCs in India to drive growth in its IT business

Randstad Digital's focus verticals include banking, financial services and insurance (BFSI), automotive and aerospace, and high tech verticals

eClerx Services shares drop 5% as IT firm announces share buyback, Q4 show

eClerx plans to allocate up to Rs 385 crore for its buyback, equivalent to 24.98 per cent of the total paid-up equity share capital and 18.38 per cent of free reserves

81% of biz leaders want global regulations, standards on AI: TCS survey

An overwhelming 81 per cent of chief executives and senior leaders have pitched for a global set of regulations and standards on artificial intelligence, a survey by TCS said on Wednesday. The survey of 1,300 leaders from companies having over USD 1 billion in revenue each was, however, not so clear on the impact of AI on jobs and showed mixed expectations. According to the survey, respondents have advocated ethical AI frameworks that guide responsible use, especially in sectors where AI decision-making impacts significant socio-economic factors like healthcare and finance. "Interestingly, an overwhelming 81 per cent of the leaders polled have asked for a more 'global' set of regulations and standards on AI," TCS chief executive K Krithivasan said in his foreword to the report. Only 4 per cent of the respondents in the survey carried out this year felt that it is too early or unnecessary to regulate AI, while 14 per cent said they prefer a "heterogeneous environment" of local ...

TCS announces creation of Global AI Center of Excellence in Paris

TCS has continuously ramped up its investments in France, since commencing operations in 1992. With the acquisition of TKS- Teknosoft in 2006, and of Alti in 2013

HCLTech partners with Amazon Web Services to drive GenAI adoption

IT services firm HCLTech on Monday said it has partnered with Amazon Web Services (AWS) to 'accelerate GenAI-led enterprise digital transformation'. The companies will work together to implement AWS GenAI (generative AI) services such as Amazon Bedrock, Amazon CodeWhisperer, Amazon SageMaker and Amazon Titan for enterprises across multiple industries, according to a company statement. "This strategic collaboration agreement seeks to help enterprises unlock the value of GenAI by empowering them to reshape business models, elevate customer experiences and foster growth," Prabhakar Appana, Senior Vice President and AWS Global Head, HCLTech said. The joint entity will help enterprises explore and develop GenAI-led use cases, proofs of concept, tools and solutions, and will provide clients early access to AWS's advanced GenAI services.

April services PMI softens to 60.8 but remains sturdy on robust demand

Favourable market conditions and buoyant demand pushed the new business sub-index to a three-month high, the third-highest in around 14 years

We'll have 50,000 people fully trained to leverage GenAI: HCLTech CEO & MD

Vijayakumar says that what's working in favour of the firm is its challenger position

Zensar Technologies zooms 11% on strong Q4 performance; profit rose 45% YoY

Shares of Zensar Technologies rose 11.4 per cent at Rs 641.75 a piece on BSE in Friday's intraday trade. This came after the company reported a 45 per cent surge in its net profits

L&T Technology Q4 result: Revenue rises 7% aided by strong deal wins

BENGALURU (Reuters) - Indian engineering research and development services provider L&T Technology Services reported a 7% rise in its fourth-quarter revenue on Thursday, in line with street expectations, aided by strong deal wins.

Comm min working on infra to achieve $1 tn exports by 2030: Official

The commerce ministry has initiated an exercise to identify required infrastructure needs, potential sectors, and clusters which would help the country achieve the USD 1 trillion merchandise exports target by 2030, a senior government official said on Thursday. Additional Secretary in the Department of Commerce Anant Swarup said that the Asian Development Bank has been requested to conduct a study in this regard. If the country is targeting USD 1 trillion of exports by 2030, there is a likelihood of about USD 1.5 trillion of imports, so "do we have enough capacity" to cater to USD 2.5 trillion of EXIM (export and import) trade, he said. So that is the target on which the department is working, he said. "The ADB is doing a study for us because what is more important is from where the USD 1 trillion of exports is going to come from; which are those sectors and clusters from where this USD 1 trillion of exports is going to come from. That is very critical for us. "Because unless we k

LTIMindtree Q4 FY24: Net profit down 1.2% at Rs 1,100 cr; missed estimates

On the demand scenario, the management said that the firm expects Q1 FY25 to report growth

Indians most confident in adapting to technology related changes: Report

Indians are most confident in adapting to changes due to tech innovations at work places and a large majority of professionals seem to be ready for any change in their roles, a report said on Tuesday. The report by global job site Indeed said around 54 per cent workers in India predict a substantial shift in their roles within the next five years and 95 per cent expressed confidence in their ability to adapt to these changes. The report - 'Tomorrow's World: The Workplace and Workforce of the Future' - is based on an online survey across 11 countries, including India. Global market research firm YouGov on behalf of Indeed collected data from November 30 - December 21, 2023, from 16,671 working professionals. The participants comprised 9,592 employees, 4,592 employers and 2,487 HR decision-makers. The report revealed that India led the way in fostering optimism towards technology and artificial intelligence (AI), with 75 per cent of respondents expressing confidence in the ...

Top IT firms report headcount drop amid weak demand, delayed deal cycle

Major Indian IT companies like TCS, Infosys, and Wipro saw a significant drop in employees during FY24 due to reduced client budgets and delayed deal cycles

Infosys Q4FY24 result preview: Low single-digit topline growth expected

According to brokerages, Infosys is likely to report a revenue increase of 2-4 per cent year-on-year between Rs 38,945 crore to Rs 38,432 crore

TCS expands presence in Brazil with new delivery centre in Londrina

Tata Consultancy Services employs around 1,700 professionals in Londrina and will be generating more than 1,600 new jobs through this centre