BUSINESS
Infosys gets GST demand for alleged tax evasion of Rs 32,000 cr, company says it has paid all dues
The time for which the Bengaluru-based major is under scanner is from July 2017 to 2021-2022.
BUSINESS
See green shoots in IT hiring, GCCs make up 70% of mandate: Quess Corp CEO
Quess reported a significant 36 percent increase in mandate size, primarily driven by demand from the roughly 200 GCCs it works with.
BUSINESS
The real reason why Karnataka government is increasing working hours of IT employees
The proposed amendment to the Karnataka Shops and Establishment Act mandates employee consent for overtime and proposes double pay. However, the IT employees' union opposes the move and has decided to stage a protest on August 3.
BUSINESS
Indians occupy 10-13% leadership positions in GCCs
Currently, about 100 Chief Investment Officer/Senior Vice Presidents are employed in GCCs who are Indians and whose salary falls in the million-dollar club.
BUSINESS
ANSR to have Accenture North American CEO Manish Sharma on its board after $170-mn deal
IT company Accenture and ANSR will soon roll out their go-to-market strategy.
BUSINESS
Q1 results: Top 5 Indian IT companies strike optimistic note as North America market recovers
Management commentary by almost all the top five IT companies for the North American market has been on the cautiously optimistic side.
BUSINESS
IT companies' buybacks might lose appeal after Budget shifts tax burden to investors
Analysts predict this change will make buybacks less attractive to investors because of the compliance burden and possibly higher taxes.
BUSINESS
Q1 results: Infosys grows fastest among top four Indian IT companies
Infosys has beaten its nearest rivals in metrics such as constant currency revenue growth and margins. However, its headcount declined in Q1.
BUSINESS
Ramping up to help our clients: CEO Pallia on CrowdStrike outage
However, Wipro confirmed that the company itself has not faced any issues due to the outage.
BUSINESS
Wipro revises revenue guidance to -1% to 1% for Q2FY25 from -1.5% to 0.5%
Total bookings in the June quarter stood at $3.3 billion, lower than $3.79 billion in the January-March period
BUSINESS
India's top 3 IT firms report over 4,500 headcount reductions in Q1
Infosys and HCLTech cumulatively saw their headcount drop by 9,988 in Q1.
BUSINESS
Infosys Q1 results beats estimates, raises revenue guidance to 3-4%
Analysts had anticipated Infosys to maintain FY25 revenue growth guidance at 1-3% in CC terms.
BUSINESS
Wipro particular in ensuring contractual obligations are followed: Chairman Rishad Premji
Premji also said Wipro has bred many CEOs that have gone out to build organisations elsewhere
BUSINESS
Wipro Q1FY25 earnings preview: Top five factors at play
Wipro’s consulting business might recover in Q1, however, macroeconomic impact and continued softness in certain verticals will continue to drag the topline, analysts say.
BUSINESS
Infosys Q1 earnings: Five factors to watch for
Potential tailwinds include the absence of visa costs and the ramp-up of large deals, while persistent macroeconomic issues and cross-currency are the likely challenges.
BUSINESS
Karnataka wants to be home to 15% of global GCCs by 2030, eyes 1 million jobs
Karnataka is the first state in the country to come up with a dedicated GCC policy to attract higher investment in the growing sector
BUSINESS
HCLTech working on over 200 Gen AI PoCs, many enter production
HCLTech has trained and certified approximately 42,000 employees with Gen AI skills and aims to cross the 100,000 mark by year end.
BUSINESS
TCS on-boards 11,000 trainees in Q1FY25, resolves all delayed hiring backlogs
TCS is in the process of completing selection from its National Qualifier Test (NQT) and will hire more candidates.
BUSINESS
TCS doubles its AI and Gen AI pipeline again in Q1 to $1.5 billion
CEO Krithivasan said TCS is executing about 270 AI projects and many AI use-cases are steadily going into production.
BUSINESS
TCS headcount up 5,452 in Q1, reverses decline of 3 quarters
Attrition for the quarter fell to 12.1%, continuing its downward trend from the previous quarter’s 12.5%.
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
Techies with machine learning, Python skills in demand for Gen AI jobs in IT companies
Companies such as IBM, Coforge, L&T Technology Services, and Happiest Minds are seeking professionals skilled in machine learning, data science, and cloud engineering
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.
