BUSINESS
Wipro CEO Pallia unveils five focus areas to turn around the company
Pallia said Wipro would first accelerate large deal momentum by working closely with clients and partners, among other 4 measures.
BUSINESS
Wipro guides for revenue of (-) 1.5% to 0.5% in Q1FY25
CFO Aparna Iyer said it is a tough macroeconomic environment and clients are going through a very challenging time.
BUSINESS
TCS outperforms Infosys in revenue growth for the first time in five years
Although TCS is much bigger than Infosys in size, it has still outperformed its Bengaluru-based next-best rival hands down.
BUSINESS
Infosys records highest ever yearly TCV at $17.7 bn; posts $4.5 billion in Q4
The record TCV wins were despite a challenging macroeconomic environment and an ongoing slowdown in discretionary spending.
BUSINESS
Clients willing to have pricing discussions due to onsite inflation, says Infosys CFO
On similar lines, larger rival Tata Consultancy Services had told Moneycontrol that the company has a "greater opportunity" to improve pricing.
BUSINESS
Infosys gives revenue guidance of 1-3% for FY25
The Bengaluru-based company revised its annual revenue growth guidance five times in the previous five quarters.
BUSINESS
Wipro Q4FY24 earnings preview: Top five factors at play
Wipro is expected to post revenue of Rs 22,281 crores for Q4FY24, increasing marginally by 0.3 sequentially and declining over 4 percent YoY.
BUSINESS
Infosys Q4FY24 earnings preview: Top five factors at play
Infosys is expected to post revenue of Rs 38,413 crore in Q4, implying a 2.6% YoY increase but a sequential decline of 1.1%. Net profit is estimated to be flat both sequentially and YoY at Rs 6,128 crore.
BUSINESS
Difficult to call when growth will return, says TCS CEO Krithivasan
Krithivasan said TCS will outperform in FY25 compared to FY24, because he expects major markets will turnaround very soon
BUSINESS
TCS CEO says won't appoint a COO after NG Subramaniam retires in May
TCS CEO has said the company does not intend to appoint a COO and will redistribute NG Subramaniam's duties once he retires.
BUSINESS
TCS full-year net headcount declines first time in 19 years; ends FY24 with 601,546 employees
Its headcount has declined by 13,249 employees YoY during the financial year 2023-24
BUSINESS
TCS hires over 10,000 freshers from top engineering colleges
Sources said the IT bellwether has beefed up hiring as it remains hopeful of a demand revival in the new financial year.
BUSINESS
GCCs eyeing 5-15% equity in start-ups for product acceleration
Start-ups often receive mentorship, funding, and access to infrastructure from GCCs, facilitating the development and validation of their products and solutions. Some of the GCCs which actively engage with start-ups are Bosch, Honeywell, Adobe, NetApp, Cisco and Intel, among others.
BUSINESS
Qualities as hiker will guide me as a leader: Wipro CEO Srini Pallia's first email to employees
Pallia said be will be meeting associates and clients in the weeks ahead and underscored the importance of work life balance
BUSINESS
Wipro ex-CEO Delaporte to employees: My main goal is complete with transformation in place
Delaporte said that he’s handing over the reins to his successor, 'who will drive excellence on the back of this transformation, and move towards execution all the investments the company has made.'
TECHNOLOGY
IT companies' Q4FY24 earnings preview: Five things to watch out for
On April 12, country's largest IT services company TCS will get the ball rolling for Q4FY24 IT earnings season
BUSINESS
Five reasons why Thierry Delaporte may have quit as Wipro CEO
While CEO exits are usually a negative surprise for various stakeholders, the writing has been on the wall for Wipro.
TECHNOLOGY
Srinivas Pallia’s ascent to Wipro CEO will ensure smooth transition, say industry experts
Wipro New CEO: After multiple quarters of underperformance, the IT major cannot afford any more top level exits and delays in transition by hiring another external CEO, analysts opined
BUSINESS
Cognizant defers salary hikes by a quarter to August
With the latest move, a majority of Cognizant employees would have received four hikes in three years with the cycles being: October 2021, October 2022, April 2023, and August 2024
BUSINESS
Just 6 metros hold the lion’s share in GCC location, talent in India
About 55-92 percent of the total GCC units in India are housed in Bengaluru, Hyderabad, Chennai, Pune, Mumbai, and NCR region, according to various reports.
BUSINESS
Only 8% of GCCs present in Tier II cities in India as Tier I maintains dominance
In 2022 and 2023, companies set up 112 GCCs in total, out of which only 5 were in Tier II cities
BUSINESS
TCS walks the talk, begins fresher hiring for FY25
TCS has called applications from BTech, BE, MCA, MSc and MS batches of 2024. The last day to apply is April 10 and tests will be held on April 26
TECHNOLOGY
Signed contracts with over 50 GCCs, says TeamLease Digital's new CEO Neeti Sharma
Sharma is confident that the hiring momentum by GCCs will continue at a time when jobs in the IT space have dried up.
BUSINESS
Accenture’s tepid outlook implies more pain for Indian IT even in FY25
Kotak Institutional Equities said further cuts in short-cycle discretionary projects is a negative for companies such as Wipro, LTIMindtree, Mphasis, and Infosys
