BUSINESS
Top 5 Indian IT firms see 79% drop in H1 hiring as TCS faces loss of over 19,700 employees
The top five Indian IT companies have also reported steady fresher hiring numbers for H2.
BUSINESS
LTIMindtree defers pay raise again, 50% employees to receive hikes in January, rest in April
Giving context on this decision, CEO Venu Lambu said that 'the topic of wage hikes is evolving,' as the industry and the company are going through a significant inflection point
BUSINESS
Infosys hires 12,000 freshers in first half, on track to hire 20,000 for FY26
Attrition for the quarter fell to 14.3 percent, from last quarter’s 14.4 percent on a last-twelve-month basis. The IT services major had also added 8,203 employees in Q2.
BUSINESS
CoinDCX co-founder Sumit Gupta says India needs more crypto players for market maturity, denies conflict of interest with Coinbase post funding
India is going to be a large market for crypto assets in the coming years, and the exchanges in the country and globally are building for that, CoinDCX co-founder Gupta told Moneycontrol.
BUSINESS
From Marico to mentorship: Harsh Mariwala on succession planning, India’s quick commerce wave and Ascent Foundation’s ambitions
Mariwala is bullish on the growth of the quick commerce segment, expecting FMCG companies to get about 8-10 percent of their sales through it soon.
BUSINESS
Tech Mahindra developing 1-trillion-parameter sovereign LLM under IndiaAI Mission
Tech Mahindra CEO Mohit Joshi described it as a “significant technical milestone,” noting that with 1 trillion parameters, the IT major’s LLM would rank among the largest AI models currently under development worldwide.
BUSINESS
Tech Mahindra overall add 4,197 employees in Q2, IT headcount plunges by 1,459 QoQ
The company’s last twelve-month (LTM) attrition has inched up to 12.8 percent, from 12.6 percent in the previous quarter.
BUSINESS
HCLTech intends to increase local hiring to reduce H-1B reliance: CEO C Vijayakumar
Earlier, HCLTech had said that it had the lowest dependency on H-1B visas within the industry, with 80 percent of its workforce in the US comprising local talent.
BUSINESS
HCLTech to roll out wage hikes from October; move variable pay to fixed salary
Last year, HCLTech had implemented a 7 percent salary hike starting October. Top performers had received raises of up to 12-14 percent.
BUSINESS
HCLTech generates $100 million from advanced AI, contributing nearly 3% to overall revenue
HCLTech is taking a long-term view on AI by proactively transforming its services even if it means “disrupting parts of the company’s existing revenue base”.
BUSINESS
HCLTech adds 3,489 employees in Q2FY26, reduces attrition to 12.6%
In Q2, HCLTech also on boarded 5,196 freshers, taking the total fresher addition to 7,180 as of H1FY26.
BUSINESS
TCS says only 500 workers on new H-1B visas as it moves to reduce US dependency
TCS has been the top beneficiary of the work visa programme among Indian IT services firm. As of September, TCS was allocated around 5,505 visas
BUSINESS
Indian crypto investors rush to buy the dip as $19bn wiped off market in largest single-day crash
Country’s top exchanges including CoinSwitch, CoinDCX, Mudrex among others have recorded significant jump in inflows. CoinSwitch saw trading volumes during volatile hours surge over 50X.
BUSINESS
No compromise of TCS systems in recent cyberattacks on clients, says COO
The most recent case was of another Tata Group company and UK’s biggest automotive firm Jaguar Land Rover in September.
BUSINESS
TCS to invest $6-7 billion into building data centers; first revenues 18–24 months after start
TCS CEO K Krithivasan said the project, which is close to India’s overall data center capacity, will be developed in phases with funding structured as a mix of equity and debt.
BUSINESS
TCS posts broad-based growth in Q2, order book grows 16.2% YoY to $10 billion
The company said that the growth and demand in deals were broad based across verticals. BFSI, technology and services have continued to show steady recovery and sequential growth.
BUSINESS
Layoffs impact, visa fee, muted demand: TCS Q2 earnings key factors to watch out for
Analysts expect an overall stronger growth recovery in H2FY26 for IT firms compared to H1FY26, driven by a more stable environment, deal ramp ups, improved utilisation and better project execution.
BUSINESS
FIU-IND to block URLs of 25 offshore crypto exchanges for non-compliance to local anti-money laundering laws
“It must be mentioned that the Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions,” the Finance Ministry emphasised it its statement.
BUSINESS
Crypto exchange Bybit steps up India push with team expansion, user growth drive, crypto card plans
India’s stance on crypto regulations is getting much better, as the regulators are a lot more open to conversations, Michelle Daura, Head of Regulated Expansion Regions, Bybit told Moneycontrol.
BUSINESS
TCS layoffs leave employees facing uncertainty and anxiety
TCS told Moneycontrol that speculations around a higher number of layoffs are incorrect and misleading, adding that the impact is limited to 2% of its workforce.
BUSINESS
Why Jaguar Land Rover cyberattack puts Tata Consultancy Services under renewed scrutiny
The JLR hack will be the third such massive cyberattack among TCS’ customers. Previously, Marks & Spencer and the Co-op,two of TCS' British customers had suffered attacks this year
BUSINESS
After visa fee hike, Trump's wage-based H-1B plan threatens to push Indian IT further offshore
Experts warn the proposal could disproportionately impact Indian IT firms and accelerate offshoring of tech jobs.
BUSINESS
Only 3-5% of Indian IT workforce is on H-1B; companies don’t expect significant impact of new visa fee
Meanwhile, the H-1B setback weighed on listed shares of Indian large and midcap IT companies on September 22. Most fell between 2-5 percent to take the Nifty IT index down by up to 3 percent in early trade.
BUSINESS
Analysts see limited impact on Indian IT as White House eases concern on H-1B fee hike
This calms the nerves of those expecting a massive hit for Indian IT firms, particularly in terms of margins and other business parameters.
