Page 8 - It Services

CNH's India technology centre to be the largest by the end of CY24

The centre, which has a headcount of 700, will touch 1,000 by the end of CY24

Q4 Preview: TCS to lead IT pack; may see upper single digit rise in profit

Reversal of furloughs and incremental contribution from the BSNL deal and other deals will fuel the revenues

Tech talent war: Nearly 4,500 IT leaders switch jobs in 12 months

Chaos in C-Suite sees 4.5% leadership churn in IT services: Xpheno

How did Accenture manage to secure $1 billion worth of GenAI deals?

The company is an early adopter of the tech and has leveraged its first-mover advantage, supported by clients' increased discretionary spending on GenAI

TCS layoffs: Over 20 employees in US cry foul, file complaint against firm

With the industry facing low demand, several of the large IT firms have been looking at ways to cut costs

IT industry opposes Karnataka IT Union's call to end relief in labour rules

On March 16, a section of IT employees, under the banner of KITU, staged a protest in front of the labour commissioner's office in Bengaluru to press for their views

TCS likely to offer 7-8% average salary hike to offsite employees

TCS' attrition rate has been normalising, standing at 13.3 per cent for the third quarter of FY24, down from 14.9 per cent in the previous quarter

India's February services PMI eases to 60.6 on low business confidence

Despite having slipped, the headline index was comfortably above the neutral mark of 50.0 and signalled a sharp rate of expansion that was well above the series history

We don't see hiring going down due to generative AI: TCS CEO K Krithivasan

His comments come at a time when the hiring done by industry has come down significantly. For instance, in FY23 the industry added a total new headcount of 290,000. This has fallen to 60,000 in FY24.

Robust cybersecurity shield key for IT providers to retain clients

Global cybercrime damage costs are expected to grow by 15 per cent per year over the next three years, reaching $10.5 trillion annually by 2025

IT services firm Sonata Software bets on European market to drive growth

The telecommunications sector, a segment of the Technology, Media, and Telecom (TMT) vertical, contributed 31 per cent to the company's revenue

TCS to enhance Enento Group's IT infrastructure, digital workplace

As a part of the partnership, TCS will help Enento simplify its operating model and harmonise its technology stack by leveraging TCS' technology solutions

FPI allocation to financial stocks declines below 30%, shows data

The selling comes on the back of third quarter (3QFY24) earnings missed by HDFC Bank, Bajaj Finance, and Axis Bank. FPIs also pulled out over Rs 2,000 crore amid earnings miss by Hindustan Unilever

Govt nearly doubles PLI scheme share of five key industry segments

Amount raised from Rs 8,405 cr in RE of FY24 to Rs 15,198 cr

TCS extends deal with UK's Aviva for 15 yrs to improve customer experience

Indian company's scope of work will expand to cover more than 5.5 mn insurance policies

Coforge Q3 profit rises 4.3% on deal wins, maintains revenue forecast

Consolidated net profit rose to 2.38 billion rupees ($28.6 million) for the quarter ended Dec. 31 from 2.28 billion rupees a year earlier

BFSI weighting in Nifty50 hits 7-year low as HDFC Bank stock slips

The 2019 calendar year was the high point for the BFSI sector, when its weighting in the index had risen to a record high of 40.6 per cent at the end of December

LTIMindtree Q3 results: Net profit rises 17% to Rs 1,169 cr, revenue up 5%

Chatterjee said in a post-earnings media call that the demand environment continues to be "cautionary" and client spends are now more focused on return on investment

Accenture, TCS, Infosys, HCLTech continue to rule the IT brand list

Accenture has maintained its position as the world's most valuable IT services brand, with a brand value of $40.5 billion

IT services, BPO exports grew over 12% to touch $193 billion in FY23: ESC

The exports of computer software and services, including IT enabled services and BPO, logged 12.2 per cent growth during 2022-23 to touch USD 193 billion, according to estimates by Electronics and Computer Software Export Promotion Council (ESC). The IT software/services chunk accounted for the bulk of this at USD 126 billion, followed by BPO services (USD 52 billion). "In value terms, export of the IT/ITeS/and BPO during 2022-23 is estimated at USD 193 billion, up from USD 172 billion estimated in the year 2021-22, registering a growth of 12.21 per cent, which is mostly contributed by IT software/services at USD 126 billion, followed by BPO services (USD 52 billion), software products development (USD 5.1 billion), engineering services (USD 9 billion)...," Sandeep Narula, Chairman of ESC said in a release. Narula said the growth of BPO services at 14.63 per cent and 13.33 per cent growth of IT products are good indications since global trading of these segments would go up ...