Indian IT outsourcing company Wipro said telecom equipment maker Nokia had moved to the sales order platform designed and operated by it as part of a multi-year outsourcing deal. The company also said it was bringing Latin American cargo company to LATAM Cargo on to its supply a cargo management platform. The size of the […]
Infosys CEO Salil Parekh reassured investors that the IT services behemoth was not facing a growth crisis because of the replacement of traditional sourcing models with digital services. He said new age services — such as analytics, marketing, digital product design, digital system integration, cloud migration and cyber security were already at a huge size, […]
HCL Technologies (HCL) said Germany-based enterprise software giant SAP has agreed to include, and resell, an ‘add on’ that it developed for aviation-related clients as part of a broader solution. The add-on will help clients streamline their ‘maintenance, repair and overhaul’ operations when using SAP’s enterprise asset management or EAM solution. EAM software is used […]
IT services company Tech Mahindra reported a 13% sequential jump in its net profit despite modest growth, after it was able to keep costs almost static. Revenue in rupee terms rose 2.2% on quarter. Translated to dollars, it was up 2.5%. Year on year, revenue was up 2.9% in rupee terms and 8.3% in dollar […]
Majesco, the India-based provider of IT solutions to the insurance industry, said its subsidiary has been sued by a customer in the US for $10 mln (Rs 64 cr). In a filing on Sunday, Jan 28, the company said that on Jan 24, its subsidiary Majesco Software and Solutions Inc received a summons with notice […]
IT services provider Wipro said it will invest $9.9 million (Rs 63 cr) in marketing consultant Harte Hanks and will jointly offer end-to-end marketing technology services to customers. Harte Hanks specializes in omni-channel marketing solutions including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. “Wipro’s investment in Harte Hanks […]
The stocks of Bharti Airtel and Idea Cellular were down around 4% in early trade on Wednesday after Reliance Jio indicated that it would cut tariffs by about 25% as part of a new Republic Day offer. Airtel shares were trading down 21 rupees at Rs 471, while those of Idea were down 4.35 rupees […]
Tata Consultancy Services said it has entered into a five-year deal with long-time customer and retail chain Marks and Spencer to transform its customer experience and make it a ‘digital first’ business. “TCS will be Marks & Spencer’s principal technology partner and drive agility, intelligence, innovation and efficiency to transform the retailer’s customer experience and […]
IT services provider Infosys Ltd said it has largely exhausted the possibility of improving its profit margins by increasing employee utilization levels and will focus on bringing down on-site employee numbers to boost margins. The company reported an employee utilization level of 84.9% for the three months ended December — an all-time record — compared […]
Infosys reported a quarter that was largely in line with expectations and said it retains its full-year revenue growth guidance at 5.5-6.5%, excluding the impact of currency movements. With nine months gone, the company has grown at 5.6% in constant currency terms so far. For the third quarter, revenue in constant currency was up 0.8% […]
Tata Consultancy Services reported a 1.3% improvement in revenue in constant currency terms, which is less than the 1.7% improvement reported in the previous quarter, but largely in line with expectations for a tame quarter. Revenue grew 6.2% on year in constant currency terms. In rupee terms, the company’s revenue was at 30,904 crore; up […]
Zensar Technologies, the IT services company from the RPG Group, said its chief financial officer Manoj Jaiswal resigned with immediate effect. “He will be relieved from his duties with effect from the closing of business hours on Dec 4,” the company said. It was not clear why the CFO resigned abruptly. Zensar Technologies also said […]
Two crucial factors that swung the decision in favor of hiring Capgemini veteran Salil Parekh as the new CEO of Infosys were his familiarity with working in the IT sector in Bangalore and his overall ‘cultural fit’ with the Indian IT industry, said Kiran Mazumdar-Shaw, who heads the committee that spearheaded the search for a […]
Mukesh Ambani, India’s richest man, said telecom was the first of his big bet, and he will now use his resources to solve problems in three other difficult areas — agriculture, education and healthcare. Speaking at the HT Leadership Summit, Ambani said his primary motivation was not to make money. “Money has never meant much […]
Tata Consultancy Services, India’s biggest foreign exchange generator, said it has set up a Global Development Center in Hyderabad to cater to Zebra Technologies, a billion-dollar US corporation that specializes in tracking technologies such as bar codes and RFID. The new center will provide “operational efficiencies and an enhanced customer experience” for the client, TCS […]
Banking software maker Oracle Financial Services Software, formerly known as iflex, reported strong year-on-year numbers characterized by robust revenue growth and strict control over costs, however revenue slipped on a sequential basis. Consolidated revenue for the quarter was Rs. 1190 Crore, up 12% compared to quarter ended September 30, 2016 and down 1% compared to […]
Tata Consultancy Services said it inaugurated the first phase of Thane delivery center that will have the capacity to seat 30,000 employees when fully developed, which will make it the largest in Mumbai. The company, which has a huge operation in Vikhroli in the city, said it will eventually consolidate its Mumbai operations at the […]
IT services provider Cognizant seemed all set to clock the upper end of its full-year guidance for calendar year 2017, raising the lower-end of its forecast once again. The company, which had changed its revenue growth forecast for 2017 to 9-10% from 8-10% last quarter, further fine-tuned it to 9.5%-10.0% this time. It now expects […]
HCL Technologies, one of the top five Indian IT services companies, said it has tied up with Red Hat — the biggest open source software company — to offer Linux-based virtual infrastructure for companies. Under the product, clients will be able to lease cloud computing infrastructure from HCL that are more efficient that traditional cloud […]
Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]
