It Services

Subrahmanyan expressed confidence about India and the Middle East, saying both regions have done 'extremely well' for L&T

LTIMindtree targets top-four spot; realty listing on cards, says L&T chairman

Subrahmanyan said the contribution of projects business to L&T’s overall revenue mix could down if the group’s services businesses grow at a healthy rate

Data Story: How growth outlook for IT companies deteriorated from February 2025

IT spending came under increased scrutiny as tariff-related economic uncertainty intensified

Wipro bets big on startups, injects $200 million into Wipro Ventures

This is the fourth round of funding raised by Wipro Ventures since its inception 10 years ago, aimed at accelerating the company’s investments in early- to mid-stage startups.

Mphasis: Soft quarter with all signs of recovery

After several quarters of weak shows, things appear to be turning around for Mphasis as all indicators point towards a shift in BFSI spending.

IT companies' digital spending to increase by 13% to over $26 billion in 2024

The anticipated jump in digital spending will be a shot in the arm for the IT sector, which is facing sluggish demand due to macroeconomic challenges.

KKR invests $150 million in AI-powered healthcare revenue solutions provider Infinx

Existing shareholder Norwest Venture Partners also participated in the deal.

Goldman, Everstone eye $1.7 bn valuation for sale of healthcare-focused IT services firm

Founded in 2003, Omega Healthcare provides revenue cycle management, business process services, and other support services to healthcare companies.

Mphasis: Weak quarter as expected, delivery on outlook remains key watch

The results of Microsoft, & Alphabet indicate that growth for hyper-scalers are on a robust trajectory. Large transformation deals may augur well for Mphasis.

Indian IT spending to see double digit growth in 2024, reaching $138.9 billion: Gartner report

With Generative AI taking the centre stage, spending on data centres are expected to see a significant YoY growth in 2024.

IT stocks bleed as Accenture lowers guidance, Nomura pessimistic on TCS, Wipro, LTIMindtree, L&T Tech

Following Accenture's downward revision of revenue guidance, there are some fears raised on the pace of the revenue recovery for Indian IT.

Chip Wars: How Infy, HCLTech, Wipro and Tech Mahindra are walking the semiconductor talk

Top Indian and global IT services companies, like Accenture, Infosys, HCLTech, Capgemini, Wipro, and Tech Mahindra, have acquired many semiconductor design and R&D companies, and are making huge investments in the sector.

Food courts, lush green campus, undisturbed work: Infosys woos employees to return to office

In an internal message, Infosys encouraged employees to take advantage of 'undisturbed work settings, constructive collaborations, and team connections', along with on-campus benefits such as food courts and lush green surroundings.

Indian tech industry will add only 60,000 jobs in FY24 against 2.7 lakh in FY23: Nasscom

Nasscom said the industry over-hired during the COVID year, therefore the IT industry is seeing some level of correction, which is "expected" and "needed".

Tech Mahindra ends Q3 with 4,354 fewer employees

The attrition rate dropped from 11 percent in Q2 to 10 percent in Q3, continuing the trend of declining attrition rates since the start of fiscal year 2023.

Infosys loses $1.5 billion AI contract from global customer

This comes less than two weeks after Infosys' former CFO, Nilanjan Roy, suddenly resigned.

IT stocks shrug concerns over Accenture's weak demand outlook, gain 1-2%

Accenture's growth guidance for the February quarter is below the consensus estimate and also hints at continued cost optimisation in IT spending, which is likely to keep demand muted.

Generative AI is hyped, yet to come in a big fashion in engineering services: Cyient MD Krishna Bodanapu

Bodanapu expects Cyient’s revenue to touch $1 billion by FY25, driven by increased technology spending by customers and improving the deal mix.

Wipro's Q2FY24 revenue slides to $2.7 billion, marking third consecutive quarterly decline

For the upcoming quarter, the company expects a revenue decline ranging from -3.5 percent to -1.5 percent.

Why Happiest Minds halved its FY24 growth guidance

The company lowered revenue growth guidance from 25% to 12%. While both organic and inorganic growth figured in the earlier forecast, only organic growth is being mentioned in the revised guidance. Delays in acquisitions, deal closures, and subdued client spending cited as factors.

IT earnings in Q2 may suffer from weak demand, macro headwinds; Nomura stays cautious

Nomura also predicts the current demand slowdown in IT services to spread across the entire FY24 rather than just the first half, with the possibility of its impact even extending to FY25 as macro uncertainties continue to linger.

Indian IT service companies stay away from initial placements, GCCs offer limited relief

Placement heads and coordinators across various universities and colleges in the country confirmed to Moneycontrol that no Indian IT services companies have made it to campuses thus far.

LTIMindtree gives many employees 0-2% hike, after delay

This is a trend that has been seen with most IT services majors this year, including Infosys, HCLTech, and Tech Mahindra.

Shiv was hard on me, Ambi uncle was supportive: HCLTech chairperson Roshni Nadar Malhotra

Reflecting on her journey leading the IT services and consulting company, Malhotra shared that apart from her parents, and her life partner Shikhar Malhotra, Redington’s co-founder R Srinivasan, whom she fondly calls Ambi uncle, has been a great mentor.

Cognizant extends $800 million IT deal with Gilead Sciences

Under this agreement, Cognizant will manage Gilead’s global IT infrastructure, platforms, applications and advanced analytics, and lead initiatives designed to accelerate its digital transformation.