BUSINESS
TCS Q1 order book declines 18% to $8.3 billion
TCS' total contract value (TCV) was 18.6 percent lower from the $10.2 billion in the year-ago period and 37 percent down from the previous quarter
BUSINESS
TCS Q1FY25 earnings: Five factors to watch for
The Indian IT services bellwether is to announce its first quarter numbers on July 11, and it will be closely monitored to get a feel of the sector's prospects.
BUSINESS
IT Q1 FY25 earnings: Five factors to watch out for
Analysts unanimously believe that Q1 would be sequentially better than the last quarter, driven by seasonal improvements and ramp-up of large cost takeout deals.
BUSINESS
TCS vs Wipro: Who'll win the AI platform war?
Choosing between the two platforms depends on whether a business prioritises streamlined GenAI integration or future-focused solutions, says industry experts
BUSINESS
What's driving the Nifty IT Index rally in the past few days?
Investors are hoping for a better FY25 as the sector is gearing up to report its first quarter earnings from next week onwards, experts said.
BUSINESS
Indian IT cos struggle with Gen AI rollout delays amid rising compute, cloud cost
Analysts also pointed out that a critical barrier in GenAI adoption is the lack of a robust data foundation in most organisations.
BUSINESS
Tech M set for a leap into AI orbit, make best use of opportunities: Anand Mahindra
He hailed Tech Mahindra's 3-year roadmap for achieving profitable growth, covering every aspect of the organisation.
BUSINESS
Too early to discuss LTIMindtree’s CEO succession plan, says L&T’s AM Naik
LTIMindtree's chairman emeritus Naik has shared that the conglomerate would start to look for a successor to CEO Debashis Chatterjee only six to nine months before his term ends.
BUSINESS
LTIMindtree, LTTS jointly announce $200 million Gen AI deal pipeline
Between the two companies, L&T Group has trained around 35,000-40,000 engineers in generative AI skills.
BUSINESS
Regulation on offshore crypto exchanges to drive volumes for Indian peers: Sumit Gupta of CoinDCX
Gupta’s comments follow the recent Rs 18.82 crore fine imposed on Binance by the Financial Intelligence Unit in India (FIU-IND), for not following local anti-money laundering laws while serving Indian users.
BUSINESS
CoinDCX introduces Web3 mode in app; will offer access to 50,000 tokens
With the Web3 mode, users will have access to emerging and pre-launch tokens from large and developing ecosystems such as Base, Solana, Binance Smart Chain, Polygon, and 10 more chains. The Web3 mode also facilitates easy access to Web3 with a straightforward INR on-ramp.
BUSINESS
Crypto players hail India opening door to Binance, hope to see healthy competition
On June 19, FIU-IND issued an order following compliance proceedings and investigation into Binance's operations in India for not adhering to local anti-money laundering regulations.
BUSINESS
Anand Chandrasekaran becomes top angel investor 3rd time in a row, Kunal Bahl a close second: Hurun India
Major soonicorns in his portfolio include SaaS Labs, MoEngage, Safe Security, and InVideo.
BUSINESS
25 startups drop out of Hurun India Future Unicorn Index in 2024
According to the list, this year there was a record drop in future unicorns from the list. Some of these include Dunzo, Koo, Gaana, Bizongo, Rapido, Practo, WayCool, Paper Boat, Dotpe, to name a few. Only three startups got promoted to unicorns including Zepto, Porter and InCred turned unicorns this year.
BUSINESS
Binance to pay FIU-IND Rs 18.82 crore fine to restart India operations
This comes months after nine offshore exchanges in India were blocked for not registering and following local anti-money laundering regulations under the Prevention of Money Laundering Act (PMLA) 2002.
BUSINESS
Mega telecom deals are making a comeback for IT sector, but is the vertical really recovering?
Over the past one and half years, top IT software exporters including TCS, Infosys, HCLTech and Wipro had reported several $500-million-plus deals from telecom companies.
BUSINESS
Nachiket Deshpande emerges as top contender for LTIMindtree CEO
He is tipped to succeed Debashis Chatterjee, the first CEO of the combined LTIMindtree post-merger, whose term ends in end of 2025. At present, Deshpande serves as the company’s chief operating officer (COO).
BUSINESS
Big Tech hiring shows signs of recovery in India, six months after hitting record low
In December 2023, FAAMNG companies’ active job openings in India had plunged to a record low of 200, compared to 8,000-12,000 openings seen on average in a good hiring season, data from Xpheno showed.
BUSINESS
Cognizant's bold $1.3-bn-Belcan bet a bid to up revenue as core business struggles
The acquisition is a crucial attempt to diversify Cognizant's portfolio, but it also highlights the difficulties the company faces in its traditional business
TECHNOLOGY
Gen AI PoCs will be scaling to production incrementally, won’t go from 10% adoption to 100% immediately, says TCS CTO Harrick Vin
To solve for high costs and quicker generative AI adoption, TCS has come up with TCS AI WisdomNext, a platform that aggregates multiple generative AI models in a single interface, as it lets users compare pricing and the kind of large language models required.
BUSINESS
Canon wants India business to lead in Asia, sets up new semiconductor equipment business
India will contribute 30% revenue to Asia (without Japan) by 2035, the company said.
TECHNOLOGY
Infosys recruited 11,900 college graduates in FY24, plunging 76% YoY
Infosys had recruited over 50,000 college graduates in FY23.
BUSINESS
Only 10% of the companies have moved to GenAI production amidst high costs of technology: BCG X's Sylvain Duranton
BCG remains bullish on companies increasing spends on experimenting with generative AI use cases in 2024.
BUSINESS
Silent layoffs grip Indian IT sector, impact over 20,000 employees
According to data shared by All India IT & ITeS Employees' Union, around 20,000 techies lost their jobs in ‘silent’ layoffs in calendar year 2023
