IT has been the lone warrior for the bulls off late. Could things for the sector gets better from hereon. In an interview to CNBC-TV18, CP Gurnani, MD & CEO of Tech Mahindra, Farid Kazani, MD of Majesco and Apurva Prasad, Research Analyst-IT at HDFC Securities spoke at length about the sector.
India is hosting the World Congress on IT for the very first time, in partnership with the NASSCOM Leadership Forum in Hyderabad. Over 2,500 delegates from tech companies across the globe will be discussing new age technology and investment into India. CNBC-TV18 spoke to Tech Mahindra's CP Gurnani who is betting big on digital and is positive about FY19.
In an interview to CNBC-TV18, Vineet Nayyar, VC of Tech Mahindra spoke about the latest happenings and how the rest of FY18 will pan out.
Tech Mahindra will pay USD 89.5 million upfront for around 84.7 percent of CJS' stake. It will require the remainder of the stake over the next three years.
Speaking to CNBC-TV18, Vineet Nayyar, Vice Chairman of Tech Mahindra, said the IT sector has become neutral to location and would adjust to the policies of the new US administration.
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 company has been an integral part of digitisation and will continue to expand their horizons, said CP Gurnani, MD & CEO, Tech Mahindra.
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.
Negative comments had come from Trump earlier with regards to H1B visas. However, it may not be a cause of concern for IT companies as they constitute less than 20 percent of the H1B visas, says R Chandrashekhar, President, Nasscom.
Macroeconomic conditions across countries are not great and nations need real reforms to spur investor confidence, BCG Chief Executive Richard Lesser told CNBC-TV18. He, however, added that investors across the globe have a lot of confidence that such crucial reforms have started in India.
IT experts are of the opinion that statements made by the US presidential nominees - Hillary Clinton and Donald Trump - are generic and rhetoric. It is not a reason to worry, says R Chandrashekar, President of Nasscom.
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, 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.
Indraneel Ganguli, Senior VP & Global Head Brand, Tech Mahindra says the acquisition is a strategic fit that will augment the digital portfolio of the company. The deal size includes the enterprise value of GBP 40 million plus surplus cash not exceeding GBP 5 million.
On the sidelines of the Auto Expo 2016, Jagdish Mitra, Chief Stratergy Officer of Tech Mahindra, told CNBC-TV18 the motive behind the purchase of Italian car design company Pininfarina.
Industry body the National Association of Software and Services Companies (Nasscom) has trimmed its exports outlook to 10-12 percent for the FY17.
CP Gurnani, MD and CEO, Tech Mahindra, says retail, enterprise and manufacturing businesses did well this quarter while de growth in communications and Banking, Financial services and Insurance (BFSI) affected the company's performance.
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.
Currently every year a maximum of 85,000 H-1B visas can be issued including 20,000 for those who completed higher education in science, technology, engineering and math (STEM).
Speaking to CNBC-TV18, Vineet Nayyar, Vice-Chairman of the company says that Q3 is seeing positive orders traction and business is expected to do well in the second half of the year.
C P Gurnani, MD & CEO of Tech Mahindra is confident that the IT industry will achieve 11-11.5 percent compounded annual growth rate (CAGR) over the next five years and will meet its 2020 revenue target of USD 225 billion.
Mahindra and Mahindra Group CFO and CIO VS Parthasarathy says India is on the right track on ease of doing business and says things are slowly improving.
Over the next two three quarters, Vineet Nayyar Executive Vice Chairman expects the company to gain back its margins.
Speaking to CNBC-TV18, Abhishek Shindadkar, IT Analyst, ICICI Direct says the profit warning was anticipated as the company had said in their Q4 earnings that first half of this year will be moderate given there was weakness in the telecom and the enterprise.
Speaking to CNBC-TV18 Kailash Lalpuria, ED, Indo Count Industries says that stable cotton prices will be helpful for the company's exports in US and the other developed nation markets like European Economic Communities (EEC), UK, Melbourne, Australia and Canada.