HCL PHIL FERSHT
Indian IT’s reliance on H-1B dropped 56% over past 8 years
Indian IT companies’ reliance on H-1B visas has fallen over the years as they have ramped up local hiring in the US. High denial rates during the Trump administration along with tightening of the immigration regime have also decreased visa usage, experts said.
IT gives bears a bull hug!
Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks? The answer lies in FY25, on which everyone is pinning their hopes, decode Beena Parmar and Romita Majumdar.
The great churn: Tech majors bring in new leadership amid course correction
The $245-billion Indian IT industry is seeing an unprecedented churn in senior leadership at a time when it grapples with subdued global demand and macro instability in its main markets
Banks’ tech spends may remain flat in 2023
Banking, financial services and insurance (BFSI) clients account for nearly 30% of Indian IT's $227 billion overall revenue (in FY22), forming its largest vertical.
IT majors under pressure from global eco troubles
Recent management commentaries by IT companies show the impact of global macroeconomic pressures. HCL, in a recent investors’ meeting, said that it will achieve the lower end of its revenue guidance for the year. HCL had set a revenue guidance growth of 16-17% for the services vertical in FY23.
IT majors under pressure from global eco troubles
Recent management commentaries by IT companies show the impact of global macroeconomic pressures. HCL, in a recent investors’ meeting, said that it will achieve the lower end of its revenue guidance for the year. HCL had set a revenue guidance growth of 16-17% for the services vertical in FY23.
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Tech clients seek to curb spends across IT services as inflation bites
Big Tech firms including Microsoft, Google and Meta are slowing down on hiring plans, while clients are holding back on smaller contracts to IT service providers, they added.
Seniors at IT firms bear the brunt of variable pay cuts
Experts are of the view that its impact is being felt more keenly by mid- and senior-level employees as companies are aware of zooming attrition at the entry and junior levels.
No margin for error for Indian IT firms
Information technology service providers are facing the best demand environment in a decade, soaring revenue and all time high deal wins and yet their margins are playing spoilsport. Disruptors like inflation and massive employee costs upset their operating math.
India loses its only crypto advocacy body; IT biggies to cut hiring
The Internet and Mobile Association of India has decided to shut down the Blockchain and Crypto Assets Council, whose members included top exchanges such as WazirX and CoinDCX
IT majors cut back on hiring
Cos have reduced fresh hiring by more than half in Q1 as demand starts to level off. Terming this downtrend as normalisation of talent acquisition rather than a slowdown in hiring, analysts and company executives pointed out that demand for skilled talent is expected to remain strong..
Indian IT firms take M&A route to tap top talent, boost capabilities
IT services companies are ramping up their M&A play, driven by a desire to add new capabilities and boost access to skilled talent. Analysts say this is just the tip of the iceberg.
Indian IT firms strive to crack the exit code
Attrition has turned into the biggest challenge for the $200 bn software services industry, significantly pulling at margins as well as stock prices of IT leaders.
BFSI solutions help Indian IT firms ace digitisation race
Globally, Accenture leads the BFSI solution space followed closely by TCS and Infosys, say analysts, although IBM spin-off Kyndryl and midcap Indian IT service providers are likely to be close contenders in this space.
Cloud solutions will drive IT solutions for the foreseeable future
By 2025, over 95% of new digital workloads will be deployed on cloud-native platforms, up from 30% in 2021. In 2022, global cloud revenue is estimated to total $474 billion, up from $408 billion in 2021.
Roadblocks ahead as Indian IT moves into high gear
Top Indian IT companies are expected to post double-digit growth rates amid high demand for their services globally, but several factors — including a talent crunch and margin pressure — may force them to look at the rear-view mirror more closely.
Indian IT firms see rise in engineering research and development deals from their global clients
Last week, Wipro received a multi-year global contract for providing automotive engineering services from Marelli. Analysts said the deal could be worth $250-300 million spread over a few years. KPIT received a five-year software services deal estimated at more than $60 million deal from tier-I automotive company.
Thierry Delaporte has tough task at Wipro, where he takes over as CEO on July 6
Thierry Delaporte needs to “re-energize” the leadership team, turnaround failing businesses and drive growth.
Indian IT staff on short-term roles in UK face hardships as projects dry up
Many from India's IT majors who had travelled to client locations on business and work visas, got stranded.
Covid-19 bugs Indian IT's travel, hospitality clients
Analysts see big impact as travel and hospitality firms defer spending in new tech projects as well as bargain for lower prices in existing projects. IT services exporters, especially mid-tier firms, are going to be “hit hard” given their higher exposure to the vertical, analysts said.
Cost-wary tech majors ramp up onsite hiring
Onsite hiring model could give Indian IT companies a competitive edge while cutting subcontracting costs.
3 years on, Abidali Neemuchwala has several hits, and misses too
As Wipro lags behind its peers, CEO says company needs a few more quarters to see faster growth.
Indian IT expands market share in global banking services
Recent commentaries from TCS, Infosys and Wipro too suggest that they are making significant gains in the banking sector in North America.
Why a slump in US may not be bad news for Indian IT
Indian firms were among top winners in last two US recessions as cos outsourced work offshore to cut costs.
IT majors see an increase in utilisation rate
Assessing utilisation levels is a significant part of the financial review process as these numbers indicate the workforce efficiency of the company.
Cognizant top IT stock pick in 10 yrs
At the No. 2 spot is Canadian IT services player CGI, whose scrip rose 363 per cent.
New US law could force IT to tweak business program
Policy experts reckon that untangling this knotty issue will be a challenge for the Modi govt, which is very conscious of protecting the interests, welfare of the Indian diaspora.
Top IT firms like TCS, Infosys and Wipro likely to post worst Q4 results since 2010
TCS, Infosys & Wipro are already under pressure to regain growth momentum by funneling efforts into emerging growth areas such as automation.
Tata Consultancy Services joins top 10 global IT services companies club
TCS is estimated to have IT services revenues of $10.1 billion (out of its total revenues of about $12.5 billion).
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