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.
Tata Sons tendered shares worth Rs 9,997 crore of Tata Consultancy Services (TCS) during the IT major’s Rs 16,000 crore-buyback offer that concluded recently. The single largest shareholder of TCS, Tata Sons tendered more than 3.33 crore shares during the offer, according to a regulatory filing.
Rallying for the 10th straight session, equity benchmark sensex jumped 261 points to end at a fresh record on Tuesday, tracking gains in index majors HDFC twins, Axis Bank and TCS. Despite opening on a negative note, the 30-share BSE index pared all losses and staged a smart recovery to end 260.98 points or 0.54 … Continue reading Sensex, Nifty scale fresh peaks; bank, IT stocks shine
HDFC Bank has informed analysts that improving the architectural efficiency of its IT systems would take three months while it would take six weeks to automate switchover to disaster recovery system.
A day after the RBI asked HDFC Bank to halt digital initiatives and credit card sales, RBI governor Shaktikanta Das said that banks need to invest more in information technology to ensure that customers are not put to inconvenience.
In a liberalisation measure aimed at giving flexibility and ease to IT and BPO companies to work from home, the government on Thursday removed registration and compliance requirements for companies to carry out work beyond traditional office complexes, allowing them to permanently work from any location.
The IT services deal momentum picked up sharply in the September quarter after a lull in the preceding one. Companies globally are seen to be recognising the value of going digital, given the disruptions caused by the pandemic.
The top four IT services companies hired just 12,258 people in the first half of the fiscal, down from 54,002 in the same period last year, as the pandemic hit demand and companies took measures to rein in costs. Hiring in the first half was limited to offers already committed last year at campuses.
Baring Private Equity Asia (BPEA) is acquiring Nasdaq-listed IT services & digital engineering company Virtusa in an all-cash deal that values the transaction at $2 billion. The price per share is a premium of about 27% to the closing price of Virtusa’s stock on Wednesday.
Equity indices finished higher on Tuesday with the benchmark BSE sensex rising over 550 points led by gains in auto and IT stocks amid positive global cues. The 30-share BSE sensex finished 558 points or 1.47 per cent higher at 38,493. While, the broader NSE Nifty surged 169 points or 1.52 per cent to close … Continue reading Sensex jumps 558 points as auto, IT stocks surge
The government on Tuesday said it has extended connectivity norms for work from home for IT and BPO companies till December 31. The time period for work from home was expiring on July 31.
Cognizant has brought in a new technology leader who will report directly to CEO Brian Humphries. Anil Cheriyan, who was director of the US federal govt’s technology transformation services, and prior to that with SunTrust Banks and IBM, will be executive vice president of strategy and technology effective August 3. He will be part of … Continue reading Cognizant appoints former US govt IT leader to head tech
Equity indices finished higher for the fourth straight session on Monday with the benchmark BSE sensex rising nearly 400 points, led by gains in IT and financial stocks. The 30-share BSE index finished 399 points or 1.08 per cent higher at 37,419; while the broader NSE Nifty surged 120 points or 1.11 per cent to … Continue reading Sensex surges 399 pts as IT, financial stocks gain
Equity indices on Thursday settled higher for the second consecutive session, with the benchmark BSE Sensex rising nearly 600 points led by gains in IT, banking and auto stocks. The 30-share BSE index finished 595 points or 1.88% higher at 32,201; while the broader NSE Nifty closed 175 points or 1.88% up at 9,490. Top … Continue reading Sensex rises 595 points to close at 32,201
Equity indices finished in red on Thursday with the benchmark BSE sensex falling over 850 points dragged by losses in IT and bank stocks, amid weak global cues. The 30-share BSE index fell 886 points or 2.77 per cent to close at 31,123; while the broader NSE Nifty dragged 237 points or 2.53 per cent … Continue reading Sensex falls 886 points to close at 31,123
The numbers fell because many of the business segments and geographies were weakening even before the coronavirus pandemic hit. Growing automation is also reducing the need for people in a variety of areas.
Equity indices extended gains for the fourth straight session on Thursday with the benchmark BSE sensex jumping over 950 points, led by gains in metal, auto and IT shares, amid positive cues in global stocks. The 30-share BSE index closed 997 points or 3.05 per cent higher at 33,718; while the broader NSE Nifty surged … Continue reading Sensex jumps 997 points to close at 33,718
The government has decided to extend the relaxed connectivity norms for ‘work from home’, applicable on IT and BPO companies, till July 31 from the current April 30, amid the coronavirus pandemic.
Infosys CEO Salil Parekh said the fiscal stimulus that most western economies have announced, especially the US, is a huge positive for the IT industry. The comment comes in the backdrop of the pandemic and lockdowns that have caused consumer demand to collapse around the world.
Equity indices plunged on Friday with the benchmark BSE Sensex falling over 500 points, dragged by financial, banking and IT stocks amid weak global cues. The 30-share BSE index fell 536 points or 1.68% to close at 31,327; while the broader NSE Nifty dropped 160 points or 1.71% to settle at 9,154. Major laggards in … Continue reading Sensex plummets 536 points to close at 31,327
Equity indices surged for the second consecutive day on Thursday with the benchmark BSE sensex rising over 450 points led by gains in bank, IT and auto stocks, amid positive cues from global markets. The 30-share BSE index closed 484 points or 1.54 per cent higher at 31,863; while the broader NSE Nifty settled above … Continue reading Sensex jumps 484 points to close at 31,863
Equity indices finished in red on Tuesday with the benchmark BSE sensex falling over 1,000 points, dragged by banking, auto and IT stocks amid weak global cues. The 30-share BSE index fell 1,011 points or 3.20 per cent to close at 30,637; while the broader NSE Nifty settled below the 9,000-mark. According to traders, domestic … Continue reading Sensex crashes 1,011 points to close at 30,637
It’s not all gloom and doom. In these unprecedented times, a number of companies are keeping their promise to honour offers made to campus hires. Among these are technology and IT firms including Google, Cisco, Capgemini, TCS, Accenture, Wipro and Cognizant.
Covid-19 is the tipping point to accelerate the shift to digital and workplace transformation. We will bounce back strongly,” Infosys COO UB Pravin Rao said, the newly elected chairman of IT industry body Nasscom, takes over at a time when the industry is going through perhaps its biggest challenges.
India’s information technology sector is expected to post either flat or negative growth in 2020 due to the impact of the Coronavirus pandemic globally, an IT industry veteran said on Saturday.
Equity indices witnessed a sharp decline with the benchmark BSE Sensex falling over 1,200 points, dragged by IT and banking stocks, on the first trading day of the new financial year 2020-21 (FY21). The 30-share BSE index plunged 1,203 points or 4.08 per cent to close at 28,265 on Wednesday; while the broader NSE Nifty … Continue reading Sensex plunges 1,203 points to close at 28,265
The Union of IT and ITES Employees on Monday demanded that the central government enforce all companies, ranging from MNCs to MSME, to extend work from home option to all employees and make it voluntary in the wake of Covid-19. It also demanded to ensure that no leave adjustments, salary reductions or retrenchments happen during … Continue reading Extend work from home option to all, restrict work hours: IT employees union
Coffee Day (CDEL) has received Rs 2,000 crore from Blackstone as part of the deal to sell its IT park in the outskirts of Bengaluru. This is the first tranche of the transaction, out of which Rs 1,650 crore would be used to repay banks and other financial institutions. The remaining Rs 700 crore would … Continue reading Coffee Day gets Rs 2,000 cr from Blackstone