Infosys, the country’s third largest IT services exporter, announced that its first-quarter revenue has risen 4.5% to $2.26 bln vs expectations of $2.22 bln, beating the expected revenue. Against an expected sequential growth of 2.9% in constant currency, Infosys reported an actual growth of 4.4% in constant currency. Analysts expectations were for a 2.9 per […]
Department of Telecom’s Committee on Net Neutrality said the use of data packs by consumers to make voice calls amounted to bypassing “existing licensing and regulatory regime”. The committee therefore said that such a state of affairs must be rectified. It did not specify how consumers were “bypassing regulations” by using their data packs for […]
Flipkart, India’s largest e-commerce marketplace opened its newest warehouse at Dadri, UP, taking the total warehouse strength across India to 14, and throwing its focus on the Hindi heartland. Typically, most of the ecommerce volumes in India come from the South and West, with the North and East lagging slightly. As a result, most of […]
Bangalore has overtaken Mumbai as the home to the biggest start-up investment scene, attracting about 30% of angel funding in India, said a report on ‘Angel Investing’ brought out by InnoVen Capital India and Association of Indian Angel Groups (AIAG). India Angel Report 2015 also found that the median angel funding round grew to Rs […]
Zensar Technologies announced its first quarter results of FY16 today, reporting year on year revenue growth of 16.5% from INR 604.78 crore to INR 704.64 crore in quarter ended June 30, 2015. The company did not disclose the growth when calculated in dollar terms. The rupee has depreciated against the dollar significantly over the past […]
Myntra, part of Flipkart, appointed Ambarish Kenghe as Senior Vice President and Head of Product. Ambarish will start working at Myntra’s Bengaluru headquarters by the end of this month and will report to CEO, Mukesh Bansal to scale up Myntra’s product road map. His task at the app-based retailer will include “leveraging the mobile smartphone […]
NIIT Technologies, an IT solutions organization, reported a revenue increase of 11% for the first quarter over the same period last year, at Rs 641.1 Crores. Operating Profits grew 34.5% over same period last year to rupee104.2 Crores and Profit after Tax expanded 35.5% to Rs 58.5 Crores. “The quarter witnessed robust 8.9% sequential growth […]
Tata Consultancy Services said it has has been selected by digital media company Adobe as a Premier Partner, the highest level of partnership among Adobe’s global ecosystem. “This new partnership enables TCS clients to fully leverage Adobe’s Marketing Platform and its core solutions, allowing them to design and execute customized strategies and integrated marketing campaigns […]
HCL Technologies Limited (HCL) said it has entered into a definitive agreement to acquire certain assets of privately held Trygstad Technical Services Inc. (“Trygstad”), a US based provider of IT consulting services & solutions in an all cash deal. The size of the deal was not revealed. Trygstad Technical Services Inc. is a niche company […]
Two weeks after announcing that it would sell much of its India business to Hinduja Global Solutions, India-based outsourcing company Mphasis said it is transferring part of the remaining India business to Karvy Data Management Services Limited. Karvy Data is a provider of business and knowledge process services in India. “This is Mphasis’ second definitive agreement further […]
Tata Consultancy Services seemed to be suffering from intense pricing competition, as it reported a sequential dollar revenue growth of just 3.5% compared to the 4% that the Street was looking for. “We’ve had a realization dip of 120 basis points. Realization has been flat compared to last year.. last two quarters had seen realization […]
Infosys said it will now offer the Finacle suite of software solutions on Verizon Cloud. Finacle is a software suite designed to run banks on, while Verizon cloud refers to an Internet-based platform offered by Verizon. Core bank software is usually not run on cloud computing infrastructure, particularly over public cloud platforms, due to security-related concerns. […]
In an announcement that coincided with the release of Tata Consultancy Services’ quarterly results, Wipro Ltd said it has agreed to acquire Designit, a global design firm based in Denmark. The Denmark-based firm specializes in designing user experience, interaction design and product innovation. The value of the transaction was not revealed. “This investment marks a […]
Tata Consultancy Services Ltd is scheduled to report its first-quarter results at 4 pm today. India’s biggest IT services company has been giving out disappointing quarterly numbers for over a year, and the market is hoping that the IT major will not disappoint this time. We bring you a summary of what different analysts expect […]
Infosys said it has signed a multi-year agreement with Deutsche Bank, without disclosing the deal size. Under the terms of the agreement, Infosys will provide services like be-spoke development, application maintenance services, digital and mobility, package implementation, and testing services, to the bank. It “will also be a strategic partner under Deutsche Bank’s Supplier Partnership […]
Infosys Limited said it will announce the results for its first quarter ended June 30, 2015 on Tuesday, July 21, 2015 at 8:45 a.m. India time. Normally, the company announces its first-quarter results on or around the 10th of July, and is usually the first Indian IT company to report results. However, the company has […]
Flipkart, which has recently been overtaken by Amazon India as India’s most visited ecommerce website, has announced a new ‘Image search’ feature on its mobile app. With the app, you can take a snap of anyone wearing any dress, and that app will try to locate a similar dress for you. “The added feature has […]
Mphasis, a leading IT services provider, said it has signed a definitive agreement to transfer a significant portion of its domestic business, subject to regulatory approvals, to Hinduja Global Solutions (HGS), a global BPM leader in optimizing customer experience for clients. In a separate statement, HGS said the move will add 7,000 “customer experience professionals” […]
Cisco announced new investments in India of up to USD 20 million over the next five years into the Cisco Networking Academy, with an additional USD 40 million for the next phase of expansion in India. NETWORKING ACADEMY The Cisco Networking Academy in India is one of the largest programs for Cisco worldwide. Across 198 […]
With the latest generation of Intel’s Broadwell chips demonstrating a great improvement in graphics capabilities, chip giant Intel is getting ready to push its new-format desktop device by teaching consumers how to build a powerful PC for just Rs 16,990 ($270). Earlier, creating a custom PC with decent power required users to buy components such […]
