Page 8 - Tech Mahindra

Former Tech Mahindra India biz head Mitra quits to set up AI startup

Former Tech Mahindra India business head Jagdish Mitra has set up an AI startup with a proposed initial investment of Rs 65-80 crore. The startup is likely to commence operations in the next three months. "We will start going to customers in 8-12 months. Initially, we will invest USD 8-10 million," Mitra -- one of the contenders for the post of Tech Mahindra CEO position after CP Gurnani resigned -- told PTI. "Cost arbitrage factor, driven by manpower, is going to be seriously impacted. It will be driven by values. We need to move from a cost-driven proposition to a value-driven proposition. "We are going to focus on value proposition. Our firm will start operations within a quarter," Mitra, who moved out of Tech Mahindra earlier this month, said. Without disclosing the name of the company, Mitra said the firm will focus on manufacturing, retail, and sportstech and operate both from the US as well as India. "Everyone will not develop chatGPT models. It will cost a huge amount of

Strong execution key for Tech Mahindra to achieve three-year targets

The investments are likely to halve in FY26 and normalise by FY27

Tech Mahindra Q4: Stock zooms 13% as management eyes 'turnaround' in FY25

Tech M stock price: The management indicated that FY25 will be a year of turnaround followed by stabilisation in FY26 and strong returns from FY27

Tech Mahindra Q4 results: Net profit drops 40% to Rs 661 cr; income down 5%

Tech Mahindra Q4FY24 results: The company announced an interim dividend of Rs 28 per share

Q4 results: Weak communications show dials down Tech Mahindra revenue

Ahead of the earnings, Tech Mahindra's shares were up 0.3 per cent to close at Rs 1,190.10 on the Bombay Stock Exchange.

Tech Mahindra and Bajaj Fin among 38 firms to report Q4 results today

TCS, Infosys, and Wipro are IT majors that have already declared their numbers for the quarter

IT sector to see second consecutive year of muted revenue growth: CRISIL

The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at USD 250 billion and it creates over 50 lakh direct jobs. "The slowdown in technology spend will continue this fiscal, weighing on the revenue growth of IT service providers," said Aditya Jhaver, director at Crisil. The industry is, however, expected to sustain in the key metric of profitability, as the operating profit margins will be stable at 22-23 per cent, the agency said, attributing it to prudent management of employee costs. Crisil said the sectoral revenues achieved a compounded annual growth rate of 12 per cent for the decade through FY24. High interest rates and economic slowdown in client mark

Tech Mahindra, Microsoft announce unified workbench for analytics platform

The collaboration will help organisations to adopt Microsoft Fabric and create complex data workflows with simple-to-use interface

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

Breakout stocks: CoForge, TechM, Sonata can rally up to 14%, suggest charts

The Nifty IT index as underperformed the benchmark Nifty 50 so far this year. Will the upcoming Q4 results revive sentiment at these counters? Charts suggest that these 4 IT stocks look promising.

F&O strategy: Bull spread recommended on Tech Mahindra for April series

Nandish Shah of HDFC Securities recommends to Buy Tech Mahindra 1300 CALL and simultaneously Sell 1340 CALL for the April expiry.

'We are leveraging AI and GenAI to build a strong cyber security defence'

Pallavi Katiyar, CIO, Tech Mahindra shares how the company is integrating AI and GenAI capabilities in its threat detection algorithms and more

Tech Mahindra announces merger of two subsidiaries based in the US

Tech Mahindra Americas (TMA) was started in the US in 1993 and provides computer consulting, programming support services, and IT management & consulting services

Tech Mahindra to merge two US-based subsidiaries to optimise costs

IT services and consultation company Tech Mahindra said it plans to merge its two wholly-owned subsidiaries, Born Group and Tech Mahindra (Americas), to synergise business operations, optimise operational cost, and reduce compliance risks. The merger is subject to regulatory approvals in the country of incorporation. According to a regulatory filing, the appointed date of the plan of merger is April 1, 2024. "A Plan of Merger of Born Group, Inc., a wholly-owned step-down subsidiary of the Company with its parent company viz. Tech Mahindra (Americas) Inc., a wholly-owned material subsidiary of the Company, has been approved by the respective companies on Friday, 22nd March 2024," the company said. While BORN specializes in providing Brand strategy, visual design, brand identity exploration, and more for digital products, mobile apps, and physical products in the US, TMA provides computer consulting, programming support services and IT Management & Consulting Services. Tech Mahindra

Tech Mahindra, Pegatron ink MoU to develop AI-enabled private 5G networks

The partnership will enable the two companies to find global prospects collaboratively, with Pegatron offering the 5G connectivity layer and Tech Mahindra delivering end-to-end 5G services

Mahindra Group appoints Amarjyoti Barua as group chief financial officer

Mahindra Group on Friday announced the appointment of Amarjyoti Barua as its Group Chief Financial Officer with effect from May 17 this year. He will be replacing Manoj Bhatt, who is appointed as Managing Director and CEO of Mahindra Holidays & Resorts India Ltd (MHRIL) succeeding Kavinder Singh, the company said in a statement. The change of guard at MHRIL comes following Singh's resignation, according to Mahindra Group. Appointments of Barua and Bhatt are effective from May 17. Currently, Barua is serving as Executive Vice President for Group Strategy. "Talent Development is a key priority at the Mahindra Group, which has enabled us to attract and retain top talent. In addition to world-class development programs, we have mapped career paths for each leader, which include experience across multiple roles," Anish Shah, Group CEO and Managing Director of M&M, said. The company also said, Vimal Agarwal, CFO of Mahindra Lifespaces Developers Ltd (MLDL), will move as CFO for ...

Tech Mahindra slips 6% as investors book profit post Q3FY24 results

Ahead of the result, the stock rallied 13 per cent in two weeks. It had hit a 52-week high of Rs 1,416 on January 23

Stocks to Watch today: Bajaj Auto, Tata Steel, Tech M, TVS Motor, IOC, BoB

Stocks to watch on Thursday, January 25, 2024: Among companies announcing Q3 results yesterday, Tata Steel reported a turnaround while IOC and Ceat postged a 10-fold and 5-fold jump in net profit.

Tech Mahindra Q3 results: Net profit declines by 60.6% to Rs 510 cr

The consensus seems to be that second half of the calendar year is when people will start to see recovery. I don't think the recovery will be simultaneous across geographies and sectors,' said Joshi

Tech Mahindra Q3 profit declines 60% as communications vertical lags

The Mahindra group company had reported a net profit of Rs 1,296.6 crore in the year-ago period while the same was at Rs 493.9 crore in the quarter-ago period