BUSINESS
India aims to be the AI use-case capital of the world, says Nandan Nilekani
Nilekani also said that doomsday propagators of AI are protectionists while India will open technology for all
BUSINESS
Coforge to acquire 100% stake in Cignity Tech within a year; acquisition will help it grow to $2-bn firm
The midcap information technology firm will begin complete integration of operations after taking over 51 percent of the company
BUSINESS
Cognizant’s headcount declines by over 7,000 in Q1
The Teaneck-headquartered firm’s headcount decreased by 3,300 sequentially and 7,100 YoY, ending with 344,400 employees in the first quarter of 2024.
BUSINESS
Cognizant Q1 revenue falls over 1% due to weak discretionary spending
The company also saw its headcount decrease by 3,300 sequentially and 7,100 YoY, ending with 344,400 employees in Q1.
BUSINESS
Birlasoft CEO says perfect storm of uncertainty in IT sector; FY25 to mirror FY24
The combined effect of economic uncertainty, varying GDP growth rates across nations, and geopolitical conflicts have created an unpredictable demand environment, not just for Birlasoft, but for the IT sector overall.
BUSINESS
At Rs 50 crore, Wipro’s Pallia becomes the second-highest paid CEO in industry
The top spot is currently occupied by Infosys’ CEO Salil Parekh, who rakes in Rs 56 crore annually as his total remuneration package
BUSINESS
CEOs of IT companies expect mixed bag in FY25 after weak show last year
While TCS and Tech Mahindra say the current financial year will be better than the last one, Infosys and HCLTech expect it will be similar.
BUSINESS
Wipro’s consulting business Capco sees “green shoots”
Chief financial officer Aparna C Iyer said Capco has grown quarter-on-quarter by 6.6%
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
