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.
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.
