Page 25 - Tech Mahindra

Tech Mahindra buys 22.14% stake in Comviva from Bharti Group for Rs 227 cr

Post this, Tech Mahindra will hold 99.17% stake in CTL

Tech Mahindra developing blockchain tech solution for vehicle registration

Under this technology, the dealer can issue a registration certificate and number for a vehicle

Tech Mahindra hits 52-week high

The stock hit a 52-week high of Rs 517 on the BSE in intra-day trade, rallied 33% in past five months against 3% rise in S&P BSE Sensex.

Tech Mahindra hopes to touch $5 billion in revenues in FY18

The company's revenues during the last fiscal were $4,351.1 million, up 7.8 per cent year-on year.

Tech Mahindra to train additional 10,000 employees on automation in 2017

At the end of September 2017 quarter, Tech Mahindra had a total headcount of 1,17,225 people

Tech Mahindra Q2 net profit up 30% to Rs 836 cr

The IT firm cash and cash equivalents stood at Rs 5,961 cr as of September 2017

Tech Mahindra hires 100 Americans at suburban Atlanta office

Mid-tier IT services company Tech Mahindra said it has hired more than 100 local employees at its Alpharetta office in suburban Atlanta to staff a project from a US-based company. Tech Mahindra joins larger peers such as Infosys, Wipro in ramping up local hiring in the largest software export market in the US. The company said it is one of the attempts to make Atlanta one of the largest offices in North America. Tech Mahindra is also engaging with startups in Atlanta and focusing on co-innovation or development of joint go-to-market products with the local startups especially in next generation technologies, solutions and platforms. With these 100 Americans joining the company, the company's total headcount at Alpharetta's office will become 600. The company said in a statement that it employs more than 2000 U S citizens across 19 states different locations and "actively recruiting from leading universities across North America". "We are proud of Tech Mahindra and its success here .

We'll do better if we ride the right changes, says Tech Mahindra CTO

Atul Kunwar, president and chief technology officer of Tech Mahindra believes that the emerging changes in technology services sphere would benefit IT companies immensely if they are able to ride on the right changes. He explains B Dasararth Reddy as to how Tech Mahindra has been gearing up to tap the new opportunities while handling the underling challenges.Excerpts of the interview: Question: Our ability to entrust more complex functions to machines has brought a paradigm change in enterprise management and business solutions. How Tech Mahindra positioned itself to handle these new technology scenarios? Answer: As newer, more complex tasks need to be done you need to have the skills to programme those devices and machines because on their own they are of no consequences. This becomes especially important when new sources coming in like AI, IoT as they add new dimensions. It's almost like a nonliving becoming a living. There are skills that are evolving around .

Tech Mahindra accepts senior workers' pay cut offer

It would be a temporary measure for a few quarters, say sources

Tech Mahindra re-appoints Gurnani as MD and CEO for 5 years

C. P Gurnani was Tuesday re-appointed as the Managing Director & CEO of Tech Mahindra for a period of five years.

Tech Mahindra gains 7% post Q1 results

Thus far in 2017, the stock was down 21% against 22% rise in Sensex till Monday.

Our business is doing well in the US, says Tech Mahindra vice chairman

Tech Mahindra beat street estimates as it improved margins by cutting costs and focusing on efficiency. At the same time, the fifth largest IT services firm has been pushing for more digital deals, which now contributes to over 22 percent of its revenues, says Vineet Nayyar, Vice Chairman, Tech Mahindra in an interview:Edited Excerpts:Your revenue from top 5 clients has been going down over the past few quarters. Is that intended?As we expand, revenue from top clients comes down. That's a consequence of growth. It is also partly affected by the fact that digital businesses have a smaller size. How is your onsite ratio going to be affected by the increased hiring abroad? Onsite ratio will not be affected by hiring in the US. Instead of people from India going there we will just hire more people there. There won't be a significant difference. BFSI has managed to remain steady compared to your peers. Also how has digital business fared?Banking Financial Services and Insurance (BFSI) ...

Tech Mahindra Q1 net rises 7% to Rs 792 cr

Total revenue rose about 8% to Rs 7,747 cr

Sound clip of Tech Mahindra HR firing employee over call goes viral online

In sound clip, Tech Mahindra HR heard blaming management for abrupt firing of employee

Tech Mahindra bets on telecom strength to grow IoT, connected devices biz

Tech Mahindra's net profit stood at Rs 2,813 cr on revenues of Rs 29,141 cr in last financial year

Tech Mahindra to hire 1,200 more for Bhubaneswar centre

IT services company Tech Mahindra plans to increase headcount by 1200 more at its Bhubaneswar campus by December this year.Tech Mahindra has about 1100 employees at its Bhubaneswar facility now."The IT company has bagged contracts from Bharti Airtel and Amazon to start BPO services at the city campus. They have started hiring", said a senior government official. Tech Mahindra is expected to complete the process by end of this year, he added.Meanwhile, the IT firm has started work on its second development block within the city campus. It plans to set up its third development block shortly.In December 2014, the company had inaugurated a new block at its existing campus to house 615 more IT professionals taking the total headcount in the state to 1,111. The new block was built at a cost of Rs 55 crore.Earlier, Tech Mahindra had announced to scale up headcount at its Bhubaneswar centre to 5,000. This included professionals for IT and ITes (IT enabled services) jobs. The IT company has .

Tech Mahindra hits 43-month low; tanks 17% on weak Q4 results

The stock tanked nearly 17% to Rs 358, its lowest level since October 2013, on BSE in intra-day.

Tech Mahindra Q4 net dips 31% to Rs 588 cr; LCC restructuring hits margins

IT services major Tech Mahindra said fourth quarter profits declined by 31 per cent to Rs 588 crore as it saw project cancellations in its communication business amidst restructuring of Lightbridge Communications Corporation (LCC), a US firm it acquired in 2015. Margins, calculated on sales minus revenue, stood at 12 per cent, the lowest in two years and the weakest among the top five Indian IT services firms. Tech Mahindra saw revenues grow 8.9 per cent to Rs 7,495 crore in the January to March quarter. Market analysts maintained a Buy rating for Tech Mahindra despite the dip in profitability in fourth quarter. "EBITDA margin performance was way below expectation, 12.0 per cent versus our estimate of 15.5 per cent, led by LCC restructuring, wage hike and higher SG&A expenses. We maintain our positive view based on possible recovery in telecom, bottoming out signals in LCC, continued growth in enterprise business led by BFSI and Manufacturing and margin expansion with ...

Tech Mahindra Q4 net declines 33% to Rs 590 crore

Analysts on average had expected March-quarter consolidated profit at Rs 783 crore

Tech Mahindra to set up third campus in Odisha in 2018

IT company had plans to invest Rs 500 crore on its Odisha centre over the next five years