Page 7 - It Services

Brokerages raise target price for HCLTech after solid Q1 performance

Shares of HCL Tech zoomed 4.83 per cent at Rs 1635.85 per share on the BSE in Monday's early morning trade. This came after the IT services major reported a 20.4 per cent year on year increase profits

TCS Q1 review: Analysts eye revival; cheap valuation to aid stock rally

TCS Q1 review: According to brokerages, the revenue led beat to estimates was broad based-with almost every vertical reporting sequential growth

Top five things investors should watch out in TCS Q1FY25 results

Information Technology major, Tata Consultancy Services is set to deliver its financial performance on Thursday July 11, 2024 for the first quarter of fiscal year 2024-25 (Q1FY25)

Altimetrik see its $1bn target revenue fast tracked with TPG on board

Sundaresan also added that they are working with TPG on a plan that will allow Altimetrik to tap into these opportunities

Results preview: IT companies may see green shoots in June quarter

But, Q1FY25 could rank among the weakest in the past decade

IT services firm HCLTech launches its first global delivery centre in Bihar

Going forward, the centre will house specialised labs and centres of excellence to boost HCLTech's technology innovation and will offer a wide range of services to global clients, said the company

We have a strong pipeline of more than $50 mn AI-led deals: Chakravarthi

The CFO of Sonata Software talks about the outlook for FY25, deal pipeline, and artificial intelligence (AI) strategy

We have strong pipeline of over $50 mn AI-led deals: Sonata Software CFO

A strong pipeline of large deals is expected to drive growth for the Bengaluru-based company

We are already seeing green shoots; FY25 will be a better year: LTIMindtree

When it comes to generative AI work, LTIMindtree has over 140 projects in production in this category

PwC India expects rise in small, mid-size merger & acquisition transactions

PwC India anticipates an upswing in the India markets, especially in small to mid-size M&A (merger and acquisition) transactions and growth fundings driven by increasing investors' confidence. The year 2023 witnessed the emergence of a nuanced M&A landscape, with investors showing interests in diverse strategies and larger-scale ventures, even amid an overall decrease in PE investment, said Sanjeev Krishan, Chairperson, PwC in India. While PE deals were higher in volume, strategic deals dominated the top deals -- and domestic deals with group-level consolidations were a prominent theme. The first quarter of 2024 marked a resurgence in deal value and volume. According to a PwC report, top 10 deals of 2023 included JV buyouts, strategic investments, PE buyouts, and stock mergers, and contributed to 21 per cent of the total deal value. While PE deals were higher in volume overall, strategic deals dominated the top deals with domestic deals and group-level consolidations as a ...

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.