Page 6 - It Services
Transition time: IT services sector to see new winners and losers
American retailers - such as Best Buy, Walmart, and Target - have indicated that higher prices are affecting their sales
IT companies' slice of Nifty 50 pie shrinks sharply to 17-year low
Sector's weighting in index has slipped to 10.2% from peak of 17.7%
 "IT companies' slice of Nifty 50 pie shrinks sharply to 17-year low")
Infosys announces acquisitions in consulting and cybersecurity space
Both the acquisitions are expected to close during the first quarter of financial year 2026 (i.e. quarter ending June 30, 2025), subject to customary closing conditions
 "Infosys announces acquisitions in consulting and cybersecurity space")
IT major Wipro eyes GCC service line in bid to catch up with peers
Wipro will help multinational companies set up their GCCs in India, operate and then transfer the entity back to the parent company - popularly known as the BOT model - after a few years
 "IT major Wipro eyes GCC service line in bid to catch up with peers")
Realigning global business lines to match clients' demands: Wipro
The technology services line is a merger of its previous cloud capabilities (Wipro FullStride Cloud) and data, application platform, digital operations, and cybersecurity (Wipro Enterprise Futuring)
 "Realigning global business lines to match clients' demands: Wipro")
L&T targets 150 MW data centre capacity by 2027, to utilise land banks
At present, L&T has two operational data centres-Mumbai and Chennai-with a combined capacity of 32 MW
 "L&T targets 150 MW data centre capacity by 2027, to utilise land banks")
Indian IT services industry to see 4-6% revenue growth in FY26: Icra
IT sector growth is expected to remain subdued in the near term due to global economic headwinds and policy uncertainties in the US and Europe
 "Indian IT services industry to see 4-6% revenue growth in FY26: Icra")
Coforge signs $1.56 billion IT deal with Sabre to boost AI-driven solutions
The deal is significant at a time when large IT services players have noted that deal sizes from clients are getting smaller with shorter time frames
 "Coforge signs $1.56 billion IT deal with Sabre to boost AI-driven solutions")
Indian ITeS Industry and GenAI Conundrum as adoption remains under 40%
According to the latest BCG report 'The GenAI Adoption Conundrum', over 80 per cent of developers acknowledge its advantages, citing increased productivity and efficiency
 "Indian ITeS Industry and GenAI Conundrum as adoption remains under 40%")
Hexaware Technologies IPO subscribed 2.7 times, driven by strong QIB demand
The company had allotted shares worth almost Rs 2,600 crore to anchor investors
 "Hexaware Technologies IPO subscribed 2.7 times, driven by strong QIB demand")
Tata Technologies IT services reinstated after ransomware attack
Tata Technologies assured stakeholders that client delivery services continued without disruption
 "Tata Technologies IT services reinstated after ransomware attack")
LTIMindtree appoints Venugopal Lambu as CEO with immediate effect
Lambu is a global executive leader with more than 30 years of experience in driving strategies and hyper-growth in the technology and services industry
 "LTIMindtree appoints Venugopal Lambu as CEO with immediate effect")
Wipro eyes best day in 4 yrs on echoing hopes of IT peers' demand revival
Wipro beat third-quarter profit estimates and forecast revenue in the current quarter could increase sequentially by up to 1 per cent, compared with no growth last quarter
Deep-tech focus critical for India to lead global digital innovation
The development of the IT services opportunity saw India emerge as the manpower capital of the world to service the Y2K problem at the dawn of the new century
 "Deep-tech focus critical for India to lead global digital innovation")
Productivity of IT employees on rise even as firms apply brakes on hiring
The country's ten biggest listed IT companies that are part of the Nifty IT Index earned net sales of Rs 42.3 lakh per employee on average in FY24
 "Productivity of IT employees on rise even as firms apply brakes on hiring")
GenAI as a service generates $5-10 mn revenue per project globally: study
Indian technology services providers had even lower revenue generation from GenAI at $1.5-2.2 mn
 "GenAI as a service generates $5-10 mn revenue per project globally: study")
Cognizant saw 13,000 associates joining back, says CEO Ravi Kumar
AI is a unique technology and it will disrupt the knowledge worker
 "Cognizant saw 13,000 associates joining back, says CEO Ravi Kumar")
Are campuses ready to cater to tech industry's demand on specialised talent
Recent findings highlight that most colleges are taking steps to prepare for an AI-driven future. But many campuses lack qualified faculty for effective course delivery
 "Are campuses ready to cater to tech industry's demand on specialised talent")
IT company Mphasis's Q2 net profit rises 8% Y-o-Y, deal value falls
Company says most of its contracts are now for work in artificial intelligence
 "IT company Mphasis's Q2 net profit rises 8% Y-o-Y, deal value falls")
IT services' focus on building IP and platforms may trigger more lawsuits
While lawsuits are common in the US tech industry, analysts believe their nature is changing due to shifts in business models and growing organisational awareness of intellectual property infringement
 "IT services' focus on building IP and platforms may trigger more lawsuits")