The best performing currency is the Indian rupee trading at 16-month high and Vineet Nayyar of Tech Mahindra says it is a cause of concern but IT industry is resilient to manage this.
Nayyar is of the opinion that everyone acts for their self-interests, and, this move may not be in the interest of US companies. So its approval for now seems difficult.
The Protect and Grow American Jobs Act reintroduced on Thursday proposes to raise the minimum salary of H1B visa aspirants to USD 1 lakh per annum from the current USD 60,000. Besides, the proposed US immigration reforms seeks to make a Masters degree mandatory for H1B visa holders.
It is difficult to predict which way US President-elect Donald Trump will move in terms of policy but his 'bark is worse than his bite' and it is unlikely that Trump will make those fundamental changes that everyone expects, said Vineet Nayyar, VC of Tech Mahindra.
Confident that the next 25 years will belong to India, Hero MotoCorp Chairman Pawan Munjal today said land and labour reforms are "very important" to boost the country's manufacturing sector.
Vineet Nayyar, Executive Vice Chairman of Tech Mahindra feels Brexit cannot be fully blamed for Infosys losing out on the Royal Bank of Scotland (RBS) deal. The only thing that can hit technology right now is better technology, he says.
Vineet Nayyar, Vice Chairman of the company, said Brexit won't impact Tech Mahindra's performance in the long-term.
Revenue grew by 0.5 percent quarter-on-quarter to Rs 6,921 crore and dollar revenue rose 0.87 percent to USD 1,031.5 million in the quarter gone by.
Vineet Nayyar, Executive VC, Tech Mahindra does not see a significant impact on Indian IT companies. According to him the sterling may fall but it will have only a marginal impact for them. He said, they keep facing these kind of currency problems time and again.
Mahindra and Mahindra and Tech Mahindra to jointly acquire Italian car design company Pininfarina. Both the companies will first form a special purpose vehicle (SPV) and together will acquire 76.06 percent stake in the company.
In an interview with CNBC-TV18, Tech Mahindra vice chairman Vineet Nayyar and CEO CP Gurnani spoke about the company's earnings, state of business and outlook going forward.
Revenue increased by 2.9 percent quarter-on-quarter to Rs 6,293.8 crore and dollar revenue rose half a percent to USD 989 million in the quarter.
The venture into Israel by Tech Mahindra, which is part of the USD 16.5 billion Mahindra conglomerate, is the latest sign of booming ties between the countries since Indian Prime Minister Narendra Modi came to power last year.
Nayyar sold a total of 1,50,000 shares of the company yesterday on the NSE in two tranches for Rs 9,47,07,858.75, the Mumbai-based firm said in a BSE filing.
Tech Mahindra management was upbeat about the road ahead and reiterated that they were on track to achieve their USD 5 dollar revenue target. Vineet Nayyar, Executive VC and CP Gurnani, MD & CEO spoke exclusively to CNBC-TV18‘s Kritika Saxena.
Vineet Nayyar, executive vice chairman, Tech Mahindra, says there is increased automation in the industry to reduce the labour-intensive nature of the work and managements will have to need to work to adapt these changes.
Consolidated total income from operations grew by 7.2 percent to Rs 5,488 crore in the quarter ended September 2014 compared to Rs 5,122 crore in June quarter while dollar revenue climbed 5.2 percent quarter-on-quarter to USD 900 million in the quarter gone by.
Take a look at what IT leaders have to say on the sector and their outlook for the days to come.
Net profit increased to Rs 1,001 crore from Rs 718.4 crore including exceptional gains. After excluding that, net profit stood at Rs 663.22 crore for the quarter.
Vineet Nayyar, Vice Chairman of Tech Mahindra expects Mahindra Engineering Services (MES) merger to play a big role in growth going forward.
On the guidance for Q3, CP Gurnani, managing director and chief executive officer, Tech Mahindra says the quarter will be slower owing to the various number of holidays in Europe and US.
In an interview to CNBC-TV18, Vineet Nayyar, executive vice chairman, Tech Mahindra explains that despite gaining from the currency depreciation, it is only a marginal benefit that they accrue. The company gets only a 35-40 paise gain on every depreciated rupee.
CNBC-TV18 learns from sources that both the companies have begun restructuring post the Andhra Pradesh High Court (HC) approval for the merger.
Major broking firms have maintained buy/hold rating on Tech Mahindra post fourth quarter results. The company managed to beat street expectations and delivered healthy growth in topline as well as the bottomline.
In an interview to CNBC-TV18, Vineet Nayyar, Vice Chairman of Tech Mahindra talked much delayed merger of Mahindra Satyam with Tech Mahindra. He informed that almost every process has been completed, barring some litigations by 13 Ramalinga Raju companies.