BUSINESS
Top honchos of TCS, Infosys, Wipro, HCLTech, Cognizant turn optimistic amid uncertainties
The broad consensus that green shoots are perceivable on the horizon by the who’s-who of the IT world assumes significance as these companies have struggled in the past couple of quarters with tepid demand leading to muted quarterly performance.
BUSINESS
Coforge does not expect demand to change soon, says CEO Sudhir Singh
The company plans to continue to hire employees to support growth
BUSINESS
Client budgets delayed due to conflicting macro data, says Happiest Minds
The company will close the financial year 2023-24 with 11.5 percent revenue growth, falling short by 50-basis-points (bps) of the guidance it has set for itself.
BUSINESS
Nothing personal, just enforcing contracts: Wipro's Rishad Premji on suing 2 former executives
Rishad Premji said senior leaders get incentivised and compensated well to maintain the confidentiality of what they're doing
BUSINESS
Davos 2024: AI has gone from hype to execution, says SAP’s Thomas Saueressig
SAP already has 130 active AI use-cases, with over 16 generative AI use-cases since the end of last year
BUSINESS
Davos 2024: When we have gaps, we'll look outside, Cognizant CEO Ravi Kumar says on poaching from peers
Kumar said the first option for any leadership role in the company, is to look within, and there were always gaps
BUSINESS
Davos 2024: Clients charged up about Gen AI, says Infosys CEO Salil Parekh
Parekh said big programs on generative AI will start flowing in whenever the economic environment improves
BUSINESS
Davos 2024: Support CEO Thierry Delaporte unequivocally, see signs of greenshoots, says Wipro's Chairman Rishad Premji
Premji said order bookings in the consulting business, which is a lead indicator of discretionary spending, was decent in Q3 and indicative of greenshoot in demand
TECHNOLOGY
Many spoilers and unfortunately we don't get a spoiler alert: Happiest Minds CFO on delayed acquisitions
Happiest Minds CFO Venkatraman Narayanan previously said that the company was "reasonably close" to completing one large acquisition, but it was delayed. This delay led Happiest Minds to revise its revenue guidance downward by more than half, from 25 percent to 12 percent for FY24.
BUSINESS
Europe market outperforms North America in Q3 for IT cos; demand to return in H1FY25
According to analysts, early signs show that the weakness has bottomed out. In fact, one of them said IT services business will see a possible rebound soon, irrespective of whether the US cuts interest rates or not.
BUSINESS
Wipro says it sees green shoots in demand, caveats discretionary spend still elusive
The company won large deals worth $0.9 billion in Q3FY24, lower than $1.28 billion it won in the last quarter.
BUSINESS
Headcount in India’s top 3 IT firms drop by over 16,000 in Q3, HCL Tech bucks trend
Comparatively, these four companies had reported a decline in workforce by 21,213 in the second quarter
BUSINESS
Not against any individual, it's about contractual obligations: Wipro on lawsuits against former top executives
CEO Delaporte said Wipro is not destabilised by these decisions because "we have the pipeline"
BUSINESS
Infosys to skip campus hiring again, TCS to resume from FY25
This is the second quarter in a row when Infosys would skip campus hiring
COMPANIES-2
Infosys Earnings Preview Q3 FY24: Lower pass-through revenues, higher furloughs to drag down performance
Analysts believe Infosys will maintain its operating margin guidance of 20-22% for the financial year
TECHNOLOGY
IT Q3 FY24 earnings: Five factors to watch out for
Analysts expect IT companies to report subdued performance in the December quarter on the back of seasonal furloughs, continued cuts in discretionary spends, and tumbling deal announcements, among others
