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IT cos struggle to get experienced hands

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The top four Indian IT firms – TCS, Infosys, HCL and Wipro – plan to hire more than 1 lakh freshers this fiscal. Cognizant said in July it planned to hire 30,000 freshers, as well as 100,000 laterals this year. The latter translates to onboarding nearly 300 experienced professionals every day.

The top four Indian IT firms – TCS, Infosys, HCL and Wipro – plan to hire more than 1 lakh freshers this fiscal. Cognizant said in July it planned to hire 30,000 freshers, as well as 100,000 laterals this year. The latter translates to onboarding nearly 300 experienced professionals every day.

It’s raining jobs in Indian IT. But there aren’t enough qualified people. So resignations are soaring in the $195-billion industry. Everyone’s poaching from each other. Techies with a few years of experience are holding multiple job offers.

The Delhi high court Thursday sought the Centre’s reply on a plea challenging the new IT rules for allegedly being in gross disregard of the fundamental rights of free speech and privacy of users of social media intermediaries such as WhatsApp, Instagram and Twitter.

The top three IT companies in India added 40,887 to its workforce in the first quarter of this fiscal, compared to a net decline of 9,088 people in the same period of last year, a dramatic U-turn in hiring sentiment which is likely to continue through the next few quarters.

Micro-blogging site Twitter on Thursday informed the Delhi high court that it will try to appoint a grievance redressal officer within 8 weeks. Twitter Inc’s India unit has appointed an interim chief compliance officer and will soon designate two other executives for the time being to comply with the country’s new IT rules, the social … Continue reading Centre free to act against Twitter if it breaches IT rules: Delhi HC

Wipro founder-chairman Azim Premji believes the Indian IT industry revenues will grow in double digits in the current financial year. Throughout the pandemic, which saw lockdown measures to curtail the spread of the virus, the information technology industry has kept the world running and has also adapted to the changes, Premji said.

Markets regulator Sebi on Monday said that exchanges and other financial market intermediaries could pay up to 10% of the average net profit of the two previous years in penalty in case of any delay or failure to report technical glitches that disrupt normal trading operation.

Social media giant Facebook on Tuesday said it will publish an interim report on July 2 as mandated by the IT rules, and provide information on the number of content it removed proactively between May 15-June 15. The final report will be published on July 15, containing details of user complaints received and action taken.

In the notice the ministry of electronics and information technology (MeitY) said, “it is dismayed to note that your (Twitter’s) responses to the ministry’s letters neither address the clarifications sought by this ministry nor indicate full compliance with the rules.”

Wipro touched a record Rs 3 lakh crore (or Rs 3 trillion) in market capitalisation, becoming only the third Indian IT company to do so after TCS and Infosys. The company’s shares have seen a strong rally over the past one year, suggesting investor confidence in its strategies under new CEO Thierry Delaporte.

Google LLC has contended that Information Technology rules for digital media are not applicable to its search engine, and urged the Delhi high court on Wednesday to set aside a single judge order which applied the rules on the company while dealing with an issue related to removal of offending content from the internet.

Twitter has to comply with the new Information Technology Rules for digital media if they have not been stayed, the Delhi high court said on Monday. The HC issued notice to the govt and Twitter seeking their stand on a plea by lawyer Amit Acharya, claiming non-compliance of the rules. Twitter claimed it has appointed … Continue reading Twitter has to comply with new IT rules for digital media: HC

Equity indices continued to surge on Tuesday with the benchmark BSE sensex rising nearly 450 points amid gains in IT and auto stocks. Sensex jumped 447 points or 0.90 per cent to close at 50,297; while the broader NSE Nifty moved 158 points or 1.07 per cent higher to settle at 14,919.

Prime Minister Narendra Modi on Wednesday said that the government is taking numerous steps to free the IT industry from unnecessary regulations. Speaking at the Nasscom Technology Leadership Forum 2021, Modi cited the liberalised regulations on geospatial data, making it freely available in the country for innovation and IT companies.

With the sharp pickup in demand after the lockdown lows, Indian IT firms have lined up robust hiring plans for 2021-22. Top four IT firms — TCS, Infosys, HCL Technologies and Wipro — collectively plan to hire 91K from campuses, a little higher than last year. Most of the ongoing financial year’s campus hiring would … Continue reading Big 4 IT cos may hire 91,000 freshers for 2021-22

HDFC Bank has indicated in its conference call with analysts that the lender might not complete fixing its back-end IT issues during the current fiscal. The bank said that its action plan relating to disaster recovery would take 12-18 months, while its immediate plans would take 10-12 weeks.

The country’s second largest IT services firm Infosys on Wednesday reported nearly 17 per cent growth in its consolidated net profit for the third quarter ended December 31 (Q3). The company posted a net profit of Rs 5,197 crore for the period under review as against a profit of Rs 4,466 crore.

Equity indices continued to march higher on Monday tracking gains in IT stocks and massive foreign fund inflow. The benchmark BSE sensex jumped 487 points or 1 per cent to hit fresh record closing of 49,269; while the broader NSE Nifty moved 138 points or 0.96 per cent higher to settle at 14,485. Top gainers … Continue reading Sensex settles above 49,000-mark for first time

Equity benchmark sensex slipped 81 points on Thursday, weighed by selling in IT, banks and consumption stocks despite a firm trend in global markets. The 30-share BSE index ended 80.74 points or 0.17 per cent lower at 48,093.32. The broader NSE Nifty fell 8.90 points or 0.06 per cent to 14,137.35.