IT solutions provider Black Box Limited announced robust growth in profitability during the Oct-Dec quarter on the back of higher efficiencies. In Q3 FY2024, revenue was flat at Rs 1,655 crores compared to the same quarter last year amid an overall slowdown in IT. On a quarterly basis, revenue grew by 5%. For the nine […]
As Indian IT services company Persistent Systems embarks on an ambitious growth strategy, it has brought on four new seasoned executives to strengthen its leadership team. Persistent has just added several industry veterans. Ayon Banerjee joined as Chief Strategy and Growth Officer from Boston Consulting Group, where he advised IT services companies on accelerating growth […]
Dixon Technologies, India’s largest electronics manufacturing services company, is making a decisive push into laptop and tablet manufacturing to capitalize on the massive market opportunity arising from the government’s increased impetus on domestic electronics production and import curbs on foreign brands. During its recent quarterly earnings call, Dixon Technologies stated that it has filed an […]
The Indian IT services sector is expected to report another muted quarter for July-September 2023, as macroeconomic uncertainties continue to weigh on technology spending by clients. Leading brokerage firms predict the sector will post modest sequential revenue growth amid soft demand environment, with growth in the range of only 0%-1% on the quarter. “We expect […]
India’s two-decade long efforts to offer itself as an alternative to China in electronics manufacturing is finally finding success, thanks to a variety of global and local developments
India imposed import tariffs on PCs, laptops and servers recently to spur local manufacturing and lower security threats from China, but getting the policy to work is easier said than done
Info Edge Ltd, the parent of Naukri.com, has bought a 76% stake in dating app maker Aisle Network Pvt Ltd for Rs 91 cr. Aisle Network operates several dating websites, such as Aisle, Anbe, Arike and HeyDil, catering to various languages and states such as Malayalam, Hindi and Tamil. The company is based in HSR […]
Tata Consultancy Services, the country’s largest IT services company, today reiterated that it is committed to its 25-by-25 model according to which the company has set a goal of reducing office attendance for its employees by 75% by the year 2025. According to the model, which was unveiled soon after the COVID-19 pandemic forced the […]
Wipro said it was closing its offices for four weeks due the Omicron variant of COVID, and said it would add 30,000 fresh graduates in the year starting in April. “The safety of our employees remain our top most priority,” said CEO Thierry Delaporte. “With the rapidly spreading Omicron variant of the COVID-19 virus, we […]
Industries such as banking and financial services and insurance (BFSI), and production and manufacturing showed the highest growth in hiring activity in 2021, while media and construction segments showed the biggest declines, said Monster.com India in its annual trends analysis. The BFSI and the manufacturing sectors both saw hiring rise by 31%, while telecom witnessed […]
Bharti Airtel has abandoned its plan to reorganize its corporate structure by focusing on the digital business — such as its Wynk app, Airtel Cloud, Airtel Xstream and so on — by moving all telecom infrastructure into a different subsidiary known as Airtel Ltd. The move was announced eight months ago, and was widely seen […]
Tech Mahindra, the IT services provider from the Mahindra & Mahindra Group, said it has purchased a US-based consulting and IT services provider for $125 mn or Rs 930 cr. The company has 660 employees, and the shares are being purchased from two entities, one in India and another in the US. Most of the […]
Tata Consultancy Services and Bharti Airtel said they tested a 5G-enabled and automated manufacturing set-up using the trial 5G spectrum allocated by Department of Telecom. Called ‘Neural Manufacturing Suite’, the technology aims to implement a ‘lights out’ factory set-up, in which the factory produces everything by itself without human or worker supervision or intervention. This […]
Industrial automation player Marshall Machines said its promoters will sell around 3.4% of the company to raise capital to meet the company’s working capital needs. The promoters currently hold around 73.4% of the total outstanding shares, which will come down to 70% by the end of the exercise. A 3.4% stake in the company is […]
Quess Corp, which bought the rights to monster.com for most of the Asian markets three years ago, said investors Mohandas Pai and Akash Bhanshali have co-invested with it in the latest round of funding for the recruitment site. In total, said Quess Corp, the three parties invested Rs 112.5 cr, with an option to raise […]
Vakrangee Ltd, which runs over 13,200 digital kiosks across the country, said its franchisees will now be able to offer share trading and demat account opening services thanks to a tie-up with stock trading app Upstox. Vakrangee Kendras already offer a variety of internet-enabled services, such as bank account opening, issue of government certificates, money […]
Infosys Ltd, one of India’s top IT services providers, said it has agreed to acquire Singapore Telecom’s Malaysia delivery center for up to SGD 6 million or around Rs 33.3 cr. Global Enterprise International Malaysia “acts as a delivery center to provide customer experience and technology services to Singtel,” the Bangalore-based company said. The company […]
HCL Tech, one of the top five IT services providers based out of India, announced the opening of its largest delivery center in Sri Lanka. Located in a newly built complex known as Cinnamon Life in Colombo, the 10-storey center will accommodate 4,000 workers — four times the number of Sri Lankans employed by the […]
Hinduja Global Solutions, one of India’s largest BPO providers with nearly 47,000 employees, said it was quite happy with how things are going under the ‘work from home’ mode, and has no immediate plans to shift employees back to the office. The comments come even as IT firms like TCS have asked employees to be […]
Two weeks after announcing that it plans to invest more and more in developing ‘computer controlled vehicle technology’, Pune-based embedded software company KPIT Technologies has announced a tie-up with ZF, a €33 billion German automobile technology provider. KPIT Tech said it will develop software for next-generation, automated vehicles with ZF, which is based in Munich […]
