TOP SOFTWARE EXPORTERS
India to be deep tech powerhouse and big part of Siemens' game plan
Siemens AG plans to increase software and digital services sales to 20%, with India being a key player in this strategy, according to CEO Roland Busch. The company has invested in expanding its software portfolio and collaborating with Microsoft on AI technology. India is a vital region for Siemens, where it aims to grow its human resources capital and manufacturing capabilities, targeting both local and global markets.
Weekly Top mid and smallcap picks: These mid and smallcap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Mid and small IT companies showed sustained improvement in revenue, profit share in March ’24 quarter
Small and medium sized IT companies continued to show year-on-year improvement in the share of aggregate revenue and profit of the sector in the March 2024 quarter though the extent of improvement has tapered down implying resilience from the top tier companies.
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
IT service exports should start diversifying in AI, cloud computing and data analytics, say industry players
As the IT service exports come out unscathed amidst a turbulent period for the world, industry players believe it’s time the service portfolio spread out.
New-age job roles: How India can engineer a future beyond software
With nearly 1,600 international corporations operating captive units, 1.7 million highly educated professionals are employed. It might theoretically increase its pool of relevant talent if it made a concerted effort to improve both the number and calibre of the more than 2.5 million Ph.D.s and graduates in science, technology, engineering, and medicine that India produces each year.
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Why deal sizes are shrinking for top Indian IT companies
IT service providers are experiencing shrinking average deal sizes to as low as $25 million due to cost efficiencies, GenAI transformation, and shorter tenure projects amid uncertain macro-economic conditions. Despite an increase in large deal volume during FY23, industry analysts report a decrease in the average value of those deals. This comes even though Indian software exporters remain major players on the global stage.
Weekly Top Picks: These mid and small cap stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
Breaking boundaries: Payoneer's game-changing approach to global payments for Indian SMBs—insights from Gaurav Shisodia
In an exclusive conversation with EconomicTimes.com, Gaurav Shisodia, Vice President of Payoneer India, delves into how Payoneer’s innovative solutions empower SMBs. Diving deep into the paradigm of cross-border transactions, Shisodia highlights its role in driving global disruption and positioning Indian SMBs for international success.
Avalara's strategy to expand in India aligns well with the country's export ambitions: Anil Paranjape
By leveraging technology, Avalara says businesses can focus on their core operations without being bogged down by the complexities of cross-border tax compliance.
Production and manufacturing sector emerges as top hiring industry in tier-II cities: foundit
The findings shows that tier-II cities are seeing stronger growth rates in sectors like production and manufacturing (29%), IT-software & services (17%), real estate (8%) and education (8%), where recruiters are seeking diverse talent with specialised skill sets.
Maharashtra, Karnataka, Delhi top UK's investment flows from India: Report
Maharashtra, Karnataka, and Delhi led in bringing foreign direct investment (FDI) to the UK, per a CII and Indian High Commission joint report. The report highlighted the contributions of Indian companies in various sectors, showcasing their positive impact on the UK economy, job creation, and cultural diversity. Additionally, it notes the significant economic ties between India and the UK, with India being the UK's second-largest source market.
Top IT companies focus on employee productivity amid demand uncertainties
Amid revenue deceleration, shrinking margins and lower headcount, a silver lining for the top tier IT exporters is the rising employee productivity aided by streamlining of human resources through meticulous bench management.
Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
GX Group to make telecom gear in India for the world
GX Group plans to establish a new Rs 100-crore manufacturing facility in India to export FTTH equipment globally, supporting the Atmanirbhar Bharat initiative. This will be their second plant, following a 2021 Haryana unit. The new facility will produce Wi-Fi routers and GPON equipment for Indian and international markets, including Europe and Africa.
A week of hits and misses in fintech; and other top tech, startup stories
Hi, this is Pratik Bhakta in Bengaluru. It’s been a busy news week for us here at ETtech covering some of the most important stories in the fintech space. We had a string of big exclusives, wrapping it up here just in case you missed reading them.
Top IT companies cut over 72,000 jobs in FY24
The top six information technology services companies in India reported a reduction in their total headcount in the last fiscal year, with only HCLTech adding employees. Factors contributing to this reduction include the economic slowdown, automation, restructuring, and decreased discretionary spending. The drop in headcount reflects the aftermath of excessive hiring during the Covid boom and ongoing industry contraction in demand. However, experts believe that this trend may have bottomed out, and companies could resume hiring, given the strong deal wins announced by most of them, which could push a gradual pickup in growth.
Want to play logistics, transportation & import export themes at one go? Consider this stock, says Dipan Mehta
Dipan Mehta discusses Adani Ports as a standout in the logistics sector, emphasizes cautious market approach, highlights AI's significance in software companies, and advises prudence in commodity stock investments, suggesting specific opportunities like Vedanta and Jindal Stainless for potential returns. Mehta alsosays: "Technology is the way forward. The biggest trend of the next decade has to be AI and the best way to play AI would be through Indian software service companies."
Postman acquires Orbit to expand reach in software developer community
Orbit has helped top developer companies manage and grow their communities across platforms, Postman said in a blog post.
India’s export basket has diversified. But that is not enough to push up the numbers
The country has to focus on widening the export mix to include more complex products by embracing value addition and innovation. This will help India command premium pricing as an exporter.
IT stocks among top gainers in November; should you buy them or wait?
So far in November, the sectoral index has net gained a little over 6%, beating the benchmark Sensex, which has gained 3% in the same period.
Software companies only offering 18-22% hikes to job jumpers
This fiscal, software firms are offering hikes of 18-22% to those jumping jobs, while earlier, such candidates would command an increase of over 40% — even up to 100-120% — in remuneration.
41 smallcaps deliver double-digit weekly gains even as investors turn cautious
In the midcap segment, only Supreme Industries rose in double-digits with 13% gain. New India Assurance and Crisil were distant close, with 9% and 7% gains, respectively.Among the Sensex pack, Nestle India topped the charts with 3.07% returns, followed by Ultratech at 1.07% and Power Grid at 0.6%.
Tech winter diet: TCS, Infosys and HCLTech shed weight, reduce employee intake
India's top software exporters, including TCS, Infosys, and HCLTech, are expected to see a decline of nearly 50,000 employees this financial year due to a challenging global environment for technology services. The companies had added 70,000 people last year and hired 150,000 in FY22 due to increased demand for digitization during the pandemic.
Analysts have mixed outlook on TCS post weak Q2
Consensus EPS to drop; weak revenue commentary to weigh on P/E multiples
IT companies to announce Q2 results from next week: Top 5 predictions and stock picks
His analysis suggests the current slowdown to be an entire FY24 phenomenon rather than 1H and the impact possibly extending to FY25 discretionary spends.
Sensex rises! But these stocks fell 5% or more in Wednesday's session
In the Nifty pack, 33 stocks closed in the green, while 17 stocks ended in the red.
Dalal Street minions pip giants and how! 20 smallcap stocks give over 20% weekly returns
As Sensex traded in a narrow range last week, 20 smallcap stocks have given over 20% returns. The S&P BSE Smallcap index surpassed the benchmark with a 2.4% gain. Nucleus Software Exports reported its best-ever revenue of Indian rupees (INR) 635 crore for FY23 which led it to achieve a whopping 41% increase last week, while Force Motors and Brightcom Group followed with over 37% and 27% gains respectively. Money managers are bullish on the broader market and expect the uptrend to continue in the small-cap stocks despite possible consolidation in benchmark indices.
These 18 stocks rally over 50% YTD; what should investors do now?
Stocks that have given stellar returns this year include Finolex Cables, Cigniti Technologies, Jindal Saw, Sonata Software, Sterling Tools, Nucleus Software Exports, Shilchar Technologies, and Goyal Aluminiums. These stocks have risen 50-85%.
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