Gartner said the strong growth in total software spending will be driven by enterprise application software, which is forecast to grow 17 percent in 2020.
Infosys' latest move is reportedly aimed at flattening the organisation structure by cutting the perceived flab at the mid and senior level.
New Delhi should shed its paternalistic way of looking at Bengaluru and Gurugram. After all India’s IT sector has led the biggest wealth creation in the history of our country.
Part 21 of the Moneycontrol Classroom deals with key parameters to look at when considering investing in the IT sector.
The IT sector business is dependent on volatility in the external markets such as the US, UK and Europe than the domestic
IT companies receive more than 50 percent of total revenue from US. The Nifty IT index was a top gainer and rose more than 35 percent last year.
The Dollar index has appreciated sharply in the past few months due to further escalation in the US-China trade war. Brexit drama is also adding to the turmoil.
Despite the mayhem in the market, many resilient stocks are still trading close to their 52-week highs
Experts peg the layoffs to be less than 10,000 coupled with bullish hiring at the back of huge demand for digital.
According to the report, growth in the IT sector will be led by the increasing number of large deals won by companies over the past two quarters
The IT sector offers a good defensive play in the current scenario
"In June, hundreds of P2P lenders fell like dominoes. Two months later, the revenue of image editing software developer Meitu fell 5.9 per cent year-on-year, reporting a USD 127 million net loss," a write-up in the state-run Global Times said.
Nifty could continue to slip, and in the medium term may give up 10,800 levels. Prefer Biocon as a bet in pharma, and ONGC from the oil and gas space.
It isn’t that digitization of the financial sector has reached a saturation point. Large financial institutions are increasingly looking inwards to meet the demands of the marketplace.
However, industry experts challenged Migrant Watch UK claims, pointing to more "unfilled vacancies" in the IT sector than any other last year and stressing the importance of intra-company transfers.
According to mutual fund managers, fund houses are augmenting stake in the IT sector amid depreciating rupee and market volatility
"Even as the economy improves, layoffs - due to cost cutting, reducing redundancies after a merger or acquisition, and restructuring events due to changes in the industry - remain commonplace," career transition company Risesmart said in a report after interviewing 1,000 executives.
The company is believed to have not paid 20 percent DDT on dividend paid to its parent company in FY17.
Assuming the growth rate suggested by Nasscom is realistic, it still is not good enough to justify higher valuations for IT stocks.
Phil Fersht, CEO of research firm HfS, noted in the Horses for Sources blog on Saturday that the Indian IT services market was looking optimistic “for the first time in years.”
Uncertainties facing the information technology industry have settled down to some extent and their level is now better understood, NASSCOM President R Chandrashekhar said on Thursday.
IT Minister Ravi Shankar Prasad said the measures under the Digital India initiative include steps to increase domestic electronic production, BPO promotion schemes for creation of employment opportunities and promotion of BPO/ITeS operations.
Former Chief Financial Officer of Infosys, V Balakrishnan, however, appeared positive about the industry's growth prospects next year.
Speaking at the 37th edition of the Gitex Technology Week yesterday, Prasad Garapati, Chairman of Electronics and Computer Software Export Promotion Council (ESC) said IT companies can play a key role in enhancing the trade volume between the two countries.
Sweden is poised to become a key destination for Indian IT companies, helped by factors like large spending on IT services and high rate of innovation, a report by industry body Nasscom said on Thursday.