BUSINESS
We are not dependent on discretionary spending: Sandeep Kalra, CEO, Persistent Systems
The mid-tier IT services company has won a standalone AI/Gen AI deal upwards of $40 million for its SASVA platform, apart from multiple Gen AI deals in the range of $5-10 million plus, according to Persistent Systems' CEO.
BUSINESS
IT companies bet big on India, Middle East for the next phase of growth
According to data from UnearthInsight, revenue share of emerging markets have gone up to 19.6% in FY24 up from 15.5% in FY14 and is expected to touch 22.2% in FY30. Most top IT companies reported double digit growth in revenue share from these markets.
BUSINESS
Persistent Systems Q2 earnings: Profit surges 23%, revenue up 20%
The order booking or deal wins for the quarter was at $529 million in Total Contract Value (TCV) and at $348.3 million in Annual Contract Value (ACV) terms
BUSINESS
Sharad Sanghi’s AI startup Neysa raises $30 mn in Series A from NTTVC, Z47, Nexus Venture Partners
Sanghi, co-founder and CEO, told Moneycontrol that the latest funding round came in response to the initial success and traction of its Neysa Velocis orchestration platform and deployment of its own cloud infrastructure that went live in July.
BUSINESS
Tech Mahindra’s Q2 deal wins plunge 5.7% YoY to $603 million
"We are still in the early stages of turnaround for business. We will see some volatility in the short term in BFSI and Telecom,” said Tech Mahindra CEO and MD Mohit Joshi. He added that there were client specific pressures in the US in Q2; expecting more clarity on telecom business after the US elections.
BUSINESS
Tech Mahindra adds 6,653 employees in Q2FY25
Tech Mahindra reported the highest quarterly headcount addition in Q2 among its top 5 IT services peers, including Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro.
BUSINESS
Tech Mahindra Q2 Earnings: Profit surges 153% YoY, dividend declared
Tech Mahindra declared an interim dividend of Rs 15 per share. The company has fixed November 1, 2024 as the record date for determining the members entitled to receive the Interim dividend.
BUSINESS
Top 4 IT firms add 8,400 employees in Q2FY25, ending four quarters of decline
Tata Consultancy Services, Infosys, Wipro, HCLTech, Tech Mahindra expected to offer 81,000–88,000 fresher roles in FY25
BUSINESS
Mixed bag for TCS, Infosys, HCLTech, Wipro in Q2: BFSI sees uptick, large deals contract
According to analysts, the US Federal Reserve’s interest rate cut impact may start baking into discretionary spending plans of customers only by Q4. The customers may also await the US election season to reevaluate plans and be more certain.
BUSINESS
Wipro’s headcount increases by 978 in Q2FY25
This comes at a time when Wipro is reassessing its lateral and campus hiring models to focus on improving utilisation rate of existing employees amidst lowering attrition, to grow margins.
BUSINESS
Infosys adds 2,456 employees in Q2, reverses trend of past six quarters
The total headcount for Q2 stood at 317,788, down from 328,764 in in the year-ago period
BUSINESS
Why HCLTech CEO Vijayakumar thinks GenAI deal sizes are irrelevant
HCLTech rivals Accenture and TCS have been talking about GenAI deal sizes increasing to $10-30 million in the recent quarters, up from $1 million
BUSINESS
HCLTech sees headcount decline by 780 in Q2FY25
In Q2, HCLTech added around 2,932 freshers and plans to onboard 10,000 freshers in FY25.
BUSINESS
No mega deals for TCS in Q2FY25, but pipeline near all-time high
TCS CEO and MD K Krithivasan said that deal TCVs always have some “lumpiness” and deals which were expected to close last quarter sometimes gets pushed to the subsequent quarters.
BUSINESS
TCS Q2 order book declines over 23% YoY to $8.6 billion
The company said that they have now over 600 AI/GenAI engagements deployed successfully in production or in various phases of development.
BUSINESS
TCS Q2 Earnings Preview: Gen AI, hiring among top five themes to watch out for
The focus will remain on demand recovery and generative AI pipeline as rival Accenture recently posted a stellar uptick in interest and revenue from Gen AI projects.
BUSINESS
Tech firms, startups back on talent hunt after mass layoffs, hiring freeze for months
After more than a year of muted job market, IT companies and startups in India have started hiring again especially for tech jobs, driving up salary expectations
BUSINESS
IT Q2 FY25 earnings: 5 factors to watch out for
Q2FY25 earnings for the IT sector seem to be heading to a gradual recovery amid caution, according to brokerage houses
BUSINESS
Indian PSUs, banks tap private cloud for cost efficiency and data security in Gen AI experimentation
But experts feel that companies will migrate to the public cloud in the long run, as the hyperscalers are better at operating cost and energy efficient AI models.
BUSINESS
What Accenture’s Q4 performance signals for Indian IT companies
While macroeconomic challenges and demand uncertainties still persists, generative AI will continue to dominate customer’s technology budgets in the second half of FY25 for Indian IT.
BUSINESS
We are open to partnering with Indian companies for semiconductor R&D: IBM’s Sandip Patel
After its partnership with L&T this month and an MoU with the Indian government, the technology giant is now gearing up to leverage its global semiconductor R&D capabilities for new customers in India.
BUSINESS
AI is India’s growth accelerator; would call it naya daur of Digital Bharat: IBM’s Sandip Patel
According to IBM’s AI adoption index released earlier, 59% of the Indian enterprises have deployed AI, making it the highest across markets surveyed.
BUSINESS
From Wankhede to Oracle: Cricketer-turned-AI engineer Saurabh Netravalkar on why data analytics is becoming core to sports
At Oracle, Netravalkar is a principal member of the technical staff working on Oracle Database 23ai, the technology giant’s new database service integrating AI capabilities.
BUSINESS
Enterprises choosing multi-cloud is sign of industry maturing: Oracle’s Pradeep Vincent
Vincent has been the brains behind engineering Oracle's Cloud offerings and business, which as of its first quarter earnings, accounts for over 42 percent of the company’s revenue and stood at $5.6 billion.
