Shares of Take Solutions, a provider of contract solutions to the healthcare sector, were up 6% after the company reported a sharp increase in revenue due to rupee depreciation and profits jumped due to a tax write-back and a jump in non-operating income. Sales at the company jumped 10.3% on quarter to Rs 516 cr […]
HCL Technologies, one of India’s top five IT services companies, said Anglo American, owner of De Beers diamond brand, has retained its services for another five years even as the mining company seeks to cut costs by leveraging cloud and digital technologies. “The multi-year deal will see HCL continue to support Anglo American through the […]
HCL SSHS, a joint venture between HCL Technologies and US-based State Street Corporation, said it plans to recruit over 1,000 graduates and post-graduates in commerce, accountancy and finance for its new office in Ganavaram, Vijayawada. The new office has been set up at Medha Tech Park and will be dedicated to finance-related processes such as Capital Markets […]
IT outsourcing firm Wipro said it has won a $1.5-1.6 bln deal from US-based Alight Solutions LLC in what it called “Wipro’s largest win to date”. The Bangalore-based company also announced that it has acquired Alight HR Services India Private Ltd, presumably the India unit of the same company. Under the 10-year deal, Wipro will help overhaul […]
Tata Consultancy Services, the country’s largest private sector employer, said it plans to make some changes to its methodology used to hire fresh graduates from campuses from this year. Speaking to BTVI, HR head Ajoyendra Mukherjee said campus hiring for the next financial year (2019-20) will start in August or September. “More and more, even […]
HCL said it was buying H&D International Group, a Germany-based provider of IT and engineering services to the automotive industry, for an undisclosed sum. It described H&D International as one of the largest IT service providers in the German automotive industry. “H&D has established a strong footprint in the German and Central European automotive markets […]
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 […]
Tata Consultancy Services announced a major expansion of its recently announced deal to take over administration of around 4 mln life and pensions contracts from M&G Prudential, the savings and investments business of Prudential. The deal, announced in January this year, was worth pegged at £500 mln (half a billion pounds) at the time. Today, the company reported […]
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, […]
Cyient, formerly known as Infotech Enterprises, said it will form a joint venture with Israel-based BlueBird Aero Systems to manufacture drones for security use in India. The joint venture will be called Cyient Solutions & Systems Private Limited and will have 51% shareholding by Cyient. BlueBird Aero Systems, said the Indian company, is a specialist […]
Engineering services provider L&T Technology Services said it won a multi-million dollar project from Covestro, a Germany-based manufacturer of advanced polymer materials, to transform the company’s operations. The contract covers two major areas. First, L&T Technology Services will help Covestro migrate data as part of its larger digitalization program for its engineering, operations and maintenance […]
Telecom minister Manoj Sinha today said that the government has ‘no plans’ to merge state-owned telecom service providers Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd. Sinha also said that BSNL is going ahead with the outsourcing of operations and maintenance activities of 26,287 towers across the country to third parties. “At present, there […]
Engineering services provider L&T Technology Services said it won a $50 million (Rs 320 cr) contract to provide engineering and R&D services to “leading aerospace electronic systems manufacturer” for five years. The company, a listed subsidiary of Larsen & Toubro, did not name the client. It said the project will result in transformation of the […]
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 […]
Pharma manufacturer Neuland Laboratories said it acquired a manufacturing plant located near Hyderabad from Arch Pharma Labs Limited. The facility is spread across 12 acres and has a capacity of about 197 KL, the company said. The plant was inspected by the USFDA in 2015, it added. “These were much needed to provide flexibility to […]
Cyient, a Mumbai-based provider of engineering, geospatial and operations management services, said it has tied up with UK-based EA Technology to jointly market each others’ services to power utilities. EA Technologies provides solutions to electric utilities to monitor and manage their assets such as cables and other electric instruments. As part of the alliance, Cyient […]
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 […]
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 […]
Continuing the trend of IT outsourcing companies topping up their digital practice with targeted acquisitions, Cognizant said it agreed to acquire Zone, a digital agency specializing in customer experience, digital strategy, technology and content creation. The transaction is expected to close in the fourth quarter of 2017, subject to satisfaction of certain closing conditions, it […]
