BUSINESS
Chennai tops GCC headcount growth in FY24; Hyderabad, Bengaluru follow
Another trend worth noting is that Maharashtra has emerged as the only state in India with two cities—Mumbai and Pune—each boasting a GCC headcount exceeding 2 lakh.
BUSINESS
IT vs. GCC debate: IT firms excel in services, not domain expertise, EPAM says
Though GCCs are growing in significance, they still rely heavily on external IT services for their scaling and project needs, says EPAM Systems, a US-based IT company.
BUSINESS
Wipro’s leased office space rises to 1.5 mn sqft, mostly in Mumbai, Gurugram
Wadehra said Wipro had toyed with the idea of strengthening presence in Tier II cities, however, it failed to take off as most employees there didn’t want to work from their hometowns.
BUSINESS
TCS India employees get tax demand notices; company asks them to wait before paying up
The company expects the department to revisit the notices and issue to be resolved soon. According to experts, there's a possibility that tax authorities committed a mistake while processing the filed returns
BUSINESS
Parents should walk the talk, can’t watch movies and ask children to study, says Infosys founder Narayana Murthy
His wife, Sudha Murty, and he dedicated more than three and a half hours each evening to reading with their children during their school years, the Infy founder said
BUSINESS
Double-digit growth to return in ER&D sector in about two years, says Nasscom’s ER&D chair Kishor Patil
Earlier, analysts expected the sector to recover by the first quarter of FY26, as and when the macroeconomic situation were to improve.
BUSINESS
Around 700 freshers await joining dates from Infosys, after 2,000 receive confirmations
The 2.5-year-wait is on for about 500 System Engineer candidates from the 2022 batch and around 200 Digital Specialist Engineer candidates from the 2023 batch.
BUSINESS
Does Cognizant have the upper hand in legal battle against Infosys?
The complaint by Cognizant states that a similar case was filed earlier against a company named Syntel Sterling Best Shores Mauritius, which went in its favour.
BUSINESS
Recovery in BFSI fueled by AI transformation deals, says Infosys' Dennis Gada
A top Infosys official highlighted that several clients are yet to streamline their data, which is critical to creating a strong foundation to derive benefits from AI.
BUSINESS
IBM, Fujitsu, Oracle build next-generation infrastructure to accelerate Gen AI, cloud adoption
IBM's hybrid cloud strategy and Fujitsu’s integrated AI chips will address the challenges faced while implementing newer AI and cloud computing technologies.
BUSINESS
After CEOs, it’s time for CFO changes at top IT firms
According to industry experts, while some companies saw a seasonal transition of CFOs due to retirement, for many others, the appointments highlighted the changing nature of the CFO role.
BUSINESS
Infosys delays onboarding of nearly 2,000 freshers from 2022 batch
Moneycontrol learns that these software engineers were asked to take two pre-training sessions, with the last one being as recent as August 19.
BUSINESS
Can this AI-powered necklace become your second brain?
NeoSapien's “second brain”, Neo S1, operates as a personal assistant, capturing, processing, and organising vast amounts of voice-based conversation and storing it as information in real time.
BUSINESS
Nandan Nilekani bats for data-driven small language models; bullish on Sarvam AI
Nilekani said that model building will ultimately get commoditised, and it's important to build it in a way that the engineering and capability can be used to deliver high-performance applications.
BUSINESS
Sarvam AI partners with Yotta, unveils first commercial generative AI offerings
Sarvam has also teamed up with Meta to offer a WhatsApp stack designed for enterprises, featuring use cases such as conversation history, business instructions, targeted marketing, and consumer feedback.
BUSINESS
IT companies set up dedicated GCC Strategic Business Units as demand booms
Experts say IT firms are aggressively positioning themselves to tap the opportunities presented by the GCC boom.
BUSINESS
Seeing growth from many midcap IT companies, says IndiQube
Large IT services companies are now allocating 10-20 percent, of their roughly 15-20 million square feet, to flexible offices, IndiQube co-founder Rishi Das has said
BUSINESS
Auto sector slump hits ER&D companies in Q1, recovery expected only next fiscal
Completion and non-renewal of long-term projects across companies suggests the net quarterly revenue decline is here to stay, analysts say.
BUSINESS
Infosys may approach High Court in GST evasion case as rules favour firm, experts say
If DGGI proceeds with the issuance of a showcause notice, Infosys is likely to bypass the usual adjudication process and directly approach the High Court by filing a writ petition under Article 226.
BUSINESS
Top ER&D services firms report sequential decline in Q1 revenue
The ER&D services space is also seeing an onslaught of heavy weights joining in and expanding with IT services majors like Cognizant beefing up with the $1.3-billion Belcan acquisition or HCLTech’s ASAP Group acquisition recently.
BUSINESS
Productivity benefits from AI, automation help Cognizant work with fewer employees
CEO Kumar said the levers to compete in the market are also powered by automation and AI, which is one of the reasons why the company is gaining wallet share from peers.
BUSINESS
Explained: Why Infosys received a Rs 32,000-cr tax demand, and why it may not need to make provisions
Many experts believe that Infosys will come clean on the matter as certain provisions make the company eligible for a return.
BUSINESS
Cognizant rides on robust financial services vertical, beats revenue estimates in Q2
The performance was on the back of winning market share in an unchanged demand scenario and a recovery in its key financial services vertical.
BUSINESS
Tax terrorism at its worst: Former Infosys CFO Mohandas Pai slams Rs 32,000 cr GST demand to IT firm
Pai said the finance ministry should immediately intervene and that such tax terrorism impacts investment into India in a big way.
