Software Exporter

Country's fifth largest software exporter Tech Mahindra today launched a majority-owned joint venture in Saudi Arabia in partnership with local conglomerate Al Fozan Group.

Tech Mahindra to continue scouting for acquisitions: Gurnani

Tech Mahindra has been very busy on the M&A front. In the last few quarters, its performance was impacted because of acquired companies, but it has communicated optimism on turning things around and showed some positive signs in the March quarter numbers.

Tech Mahindra supply mgmt system to reduce food wastage by 20%

"The initiative manages the food supply chain, which enables companies to transport farm grown produce and deliver it as fresh as if it were grown locally, and reduces losses and wastage by 15-20 percent," Tech Mahindra said in a statement here today.

TCS's Canadian arm inaugurates office in Toronto

TCS, country's largest software exporter, Tuesday said its Canadian arm has inaugurated an office in downtown Toronto to serve key markets.

TCS opens special centre dedicated to R&D in Hyderabad

The 10,000-square feet facility can accommodate 200 engineers who would be researching on futuristic technologies, the company said in a statement issued here.

TCS launches product for American banks

TCS' BaNCS Digital is designed for financial institutions in North America and will allow for integration of various stakeholders in the financial supply chain and its ecosystem, the Tata group company, which gets bulk of its revenue from the continent, said in a statement.

Wipro Chief Business Officer Satishchandra Doreswamy quits

The move comes within weeks after the country's third largest software exporter unveiled a new organisational structure and appointed Abid Ali Neemuchwala as its chief operating officer.

Infosys close to getting biggest weighting in Sensex

Infosys weighting in the BSE Sensex currently stands at 9.70 percent, only 15 basis points away from 9.85 percent for ITC, Thomson Reuters Data shows.

Wipro jumps on strong Q2 outlook, analysts say 'buy'

Wipro's growth has lagged peers for two years now, but now things may set for a turnaround. It gave a 2-4 percent sequential US Dollar revenue growth guidance for Q2 and has said that there is pickup in large deal closures and confidence among clients is higher.

Infosys falls on profit-taking; down nearly 2 percent

Credit Suisse says Infosys' April-June results were good but consistency in revenue growth is required before investors turn constructive on the stock, and maintains its "neutral" rating on the stock

TCS to buy French IT services firm Alti for Euro 75mn

India's top software services exporter Tata Consultancy Services has signed definitive agreements to buy 100 percent of Alti SA, an IT services company in France for Euro 75 million in an all-cash deal.

WCCLG to tap infrastructure lighting space

Wipro Consumer Care and Lighting (WCCLG) today said it will tap infrastructure projects in India to strengthen its lighting business.

Infosys to hire 12,000 people in Q2; 45,000 in FY'12

Keeping up the hiring momentum, the country's second largest software exporter Infosys today said it will hire about 12,000 people this quarter. The company currently has over 1.33 lakh employees.

TCS Q1 results will be IFRS compliant: Mahalingam

Even as the government is yet to announce the new date for implementing the global accounting standards IFRS, country's largest software exporter TCS said it will adopt the same from the June quarter.

Tech Mahindra to set up BPO operations in Philippines

Leading software exporter Tech Mahindra today said that it would set up business process outsourcing (BPO) operations in Philippines.