Jan 08, 2013, 10.20 PM IST | Source: Business Line

IT firms go slow on hiring, salary hikes: Report

Tough times call for tough measures. Software services providers, hurt by the overall slowdown in clients spends are going slow on their hiring plans for the year, according to a report by The Hindu Business Line newspaper.

Tough times call for tough measures. Software services providers, hurt by the overall slowdown in clients spends are going slow on their hiring plans for the year, according to a report by The Hindu Business Line newspaper.

Campus recruitments have been delayed, lateral hiring has been put on hold, and salary hikes to existing employees may also be lower this year, the report said.

Companies such as HCL Technologies have not inducted fresh engineering graduates, who were given joining letters based on a test conducted on September 30, it said.

"Considering some of the pressures in the IT industry, we do expect that the salary increases could be lower than last year. We will take a decision only in July after we review the market situation," Farid Kazani, Group CFO, Mastek , told the paper.

Also Read: Q3 preview: Weak client spend to hit IT, TCS seen gaining

HCL Tech stock price

On July 31, 2015, HCL Technologies closed at Rs 996.60, up Rs 36.60, or 3.81 percent. The 52-week high of the share was Rs 1058.20 and the 52-week low was Rs 725.18.


The company's trailing 12-month (TTM) EPS was at Rs 49.03 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 20.33. The latest book value of the company is Rs 111.99 per share. At current value, the price-to-book value of the company is 8.90.

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