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☆ CNBC's Inside India newsletter: How will the next Trump administration impact India?
▼ + stars: | 2024-11-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

Global trade changed considerably over the past four years — benefiting India — as President Joe Biden retained much of Trump's tariffs on China. EnergyOn the one hand, analysts expect Indian interests to be aligned with those of the United States regarding oil prices . Trump's previous term in office, whether intentionally or coincidently, saw moderate to low oil prices. As India imports over 90% of its oil needs, New Delhi will likely welcome any move by the U.S. to keep oil prices low. A quick resolution of the war in Ukraine — Trump's campaign promise — would also prove to be negative for oil prices.

Persons: Narendra Modi, Donald Trump, Narendra Modi's, Joe Biden, Macquarie, Aditya Suresh, Trump, Uncle Sam, Samiran Chakraborty, Baqar Zaidi, Ukraine —, —, Sanjeev Prasad Organizations: India's, U.S, Manufacturing, Global, Observer Research Foundation, Treasury, Indian, Citi, Companies, Tata Consultancy Services, HCL Tech, Infosys, Energy, Suzlon Locations: Hyderabad, New Delhi, India, China, U.S, Mumbai, United States, Ukraine

☆ WPP's former dealmaker is joining investment bank Canaccord Genuity — a sign advertising M&A could heat up
▼ + stars: | 2024-10-23 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

Canaccord Genuity is hiring the former WPP dealmaker Lance Maerov to work on ad and media M&A. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Canadian investment bank Canaccord Genuity is hiring a former top dealmaker at the advertising giant WPP for its advertising and media mergers-and-acquisitions practice, Business Insider can exclusively reveal. Canaccord Genuity didn't respond to requests for comment.

Persons: Lance Maerov, —, Genuity, It's, IPG, Martin Sorrell, Maerov, Sorrell, Mark Read, Andrew Scott, Weinstein, Harvey Weinstein Organizations: WPP, Service, Madison, Mars United Commerce, Publicis Groupe, Verve, Jun, Epsilon, Street, Nike, Tata Consultancy Services, Street Journal, Real Media, Weinstein Co, Vice Media Locations: British

☆ CNBC's Inside India newsletter: The changing face of India's rich
▼ + stars: | 2024-10-17 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +8 min

Speaking to CNBC's Inside India, Kohli noted that India's wealthy now come from a swathe of industries. India's stock market became the fourth-largest in the world at the start of the year, after overtaking Hong Kong. Meanwhile, those whose wealth that falls between 10 to 50 million Indian rupees are in the affluent category, he added. Historically, India's wealthy had a median age exceeding 50. Drivers of India's wealthThe growth in India's wealthy population comes in tandem with the nation's economic progress.

Persons: Ratan Tata, Waterfield, Ratan Tata —, Ambani, Himanshu Kohli, Kohli, Pramod Gubbi, Marcellus, Lee, Gubbi, Knight Frank, What's, Malcolm Dorson, Dorson Organizations: Tata Group, Fortune India, Tata Sons, Tata Steel, Tata Consultancy Services, Tata Motors, Titan Company, Marcellus Investment, Lee Kuan Yew, of Public, National University of Singapore, Bombay Stock Exchange, Global, Volvo, Apollo Locations: India, Tata, CNBC's, Hong Kong, Pune, Hyderabad, Ahmedabad, Chennai, U.S

☆ Ratan Tata, who put India’s Tata Group on the global map, dies at 86
▼ + stars: | 2024-10-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. Ratan Tata "was a visionary business leader, a compassionate soul and an extraordinary human being," Indian Prime Minister Narendra Modi said on social media platform X. He founded telecommunications firm Tata Teleservices in 1996 and took IT firm Tata Consultancy Services, the group's cash cow, public in 2004. Tata Motors then acquired British luxury auto brands Jaguar and Land Rover from Ford Motor Co in 2008 for $2.3 billion. The Tata Group said Mistry had failed to turnaround poorly performing businesses while Mistry accused Ratan Tata, who was chairman emeritus of the conglomerate, of interfering and creating an alternate power center at the group.

Persons: Ratan Tata, Ratan, Narendra Modi, Telco, J.R.D, Tata, Tata Teleservices, Tetley, Ratan Tata's, Cyrus Mistry, Shapoorji Pallonji, Mistry, Ola Organizations: Tata Group, Ratan Naval Tata, Cornell University, Tata, Tata Motors Ltd, Tata Steel Ltd, National Radio & Electronics Company, Tata Consultancy Services, Stanford Graduate School of Business, Corus, Tata Motors, Rover, Ford Motor Co, India —, Tata Sons, Urban Company Locations: India, Dutch, Indian

☆ CNBC's Inside India newsletter: Will AI make or break India?
▼ + stars: | 2024-05-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +9 min

But one that could foreshadow India's growth story. Can Teleperformance's stock plunge be the canary in the coal mine for what is likely to happen to India because of AI? But it's likely to be a blip for India's growth trajectory, given the macro forces at play. Besides creating jobs that are less likely to be immediately disrupted by AI, India could also be a net beneficiary of artificial intelligence. The Indian stock market indexes, Sensex and Nifty 50 , are heading for a positive week again — up by 1% and 1.2%, respectively.

Persons: Findlay Kember, Klarna, ChatGPT, K Krithivasan, Krithivasan, Narendra Modi, It's, Shilan Shah, Goldman Sachs, Vinay Dwivedi, Ashok Gulati, Nomura, League Pickleball, Karine Jean, Pierre, Jerome Powell, Raghuram Rajan, Ashish Jain, CNBC's Ayushi Jindal Organizations: AFP, Getty, India's Tata Consultancy Services, Financial Times, TCS, World Bank, International Monetary Fund, University of Oxford, Capital Economics, Investment, Nomura, Qualcomm, Powerchip Semiconductor Manufacturing, UPI, India, Commission, Agricultural, United Pickleball Association, Global Sports, PPA, League, Washington Post, White, U.S ., Federal, CNBC, Reserve Bank of India, University of Chicago Booth School of Business Locations: Swedish, Paris, India, Chennai, U.S, Europe, China, Singapore, South Korea, Canada, United States

☆ CEO of Tata Consultancy Services discusses its growth outlook
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEO of Tata Consultancy Services discusses its growth outlookK. Krithivasan, CEO of Tata Consultancy Services, discusses the company's growth outlook in light of uncertain macroeconomic conditions.

Persons: Krithivasan Organizations: Tata Consultancy Services

☆ How to drive bias out of AI without making mistakes of Google Gemini
▼ + stars: | 2024-03-27 | by ( Bob Violino | ) www.cnbc.com time to read: +3 min

In this photo illustration, a Gemini logo is seen displayed on a smartphone with a Google logo in the background. "However, depending on the data that Gen AI is trained on, the model learns and reflects that in its outputs," he said. Crucial to managing issues of potential bias in AI is to have clear processes in place and prioritize responsible AI from the beginning, said Joe Atkinson, chief products and technology officer at consulting firm PwC. "For example, a healthcare chatbot powered by generative AI can provide explanations for its diagnoses and treatment recommendations, helping patients understand the underlying factors and mitigating potential biases in medical advice." Diversity in AI development teams, dataCompanies also need to create diverse and inclusive development teams.

Persons: Siva Ganesan, Joe Atkinson, Atkinson, Ritu Jyoti, Jyoti, Ganesan Organizations: Google, Cloud, Tata Consultancy Services, International Data Corp

☆ Forcing workers back to the office is 'dinosaur management' — and companies risk losing out, expert says
▼ + stars: | 2024-02-11 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

After the first rounds of return-to-office mandates in 2023, many companies are now introducing more punitive measures to make their employees come to the office — actively tracking attendance, micromanaging employees' time, and blocking remote workers from bonuses and career progression. AdvertisementThis week, Dell informed staff that most of its workers will have to come into the office an average of three days a week. Mike Blake/ReutersIn November, Amazon also added a no-promotions policy for perennial remote workers. For example, women — who tend to take on more responsibility for the family and therefore benefit more from flexible remote work policies — will take a bigger hit from punitive policies, Cooper said. The Equal Employment Opportunity Commission recorded a 16% increase in mental health disability complaints between 2021 and 2022 from employees who want remote work allowances, The Hill reported.

Persons: —, weren't, Dell, Andy Jassy, Mike Blake, Young, Cary Cooper, Cooper, Justin Garrison Organizations: Service, Forbes, Business, Citibank, BI, Amazon, Reuters, Google, Ernst, University of Manchester, Dell, Amazon Web Services, Tata Consultancy Services, Gallup, Employment, Commission Locations: London, United States

☆ India's Tata Technologies soars 140% in pre-open debut trade
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: 1 min

A Tata sign is seen outside their offices in London, Britain March 30, 2016. REUTERS/Toby Melville/File Photo Acquire Licensing RightsBENGALURU, Nov 30 (Reuters) - Shares of India's Tata Technologies (TATE.NS) surged 140% in their trading debut on Thursday, valuing the company at 486.80 billion rupees ($5.84 billion). The stock debuted at 1,200 rupees in pre-open trade, compared with its initial public offer (IPO) price of 500 rupees. This is the first Tata Group company to go public since Tata Consultancy Services (TCS.NS) listed in 2004. ($1 = 83.3040 Indian rupees)Reporting by Rama Venkat in Bengaluru; Editing by Mrigank DhaniwalaOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Rama Venkat, Mrigank Organizations: Tata, REUTERS, Rights, India's Tata Technologies, Tata Group, Tata Consultancy Services, Thomson Locations: London, Britain, Bengaluru

☆ Hewlett Packard Enterprise beats quarterly profit estimates but forecast falters
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 28 (Reuters) - Hewlett Packard Enterprise (HPE.N) beat estimates for quarterly profit on Tuesday due to easing costs but unfavorable macroeconomic conditions led to a dour forecast for the current quarter. On an adjusted basis, the "edge-to-cloud" firm earned 52 cents per share, beating analysts' average estimate of 50 cents, according to LSEG data. In the fourth quarter, Texas-based HPE's net revenue fell 7% to $7.35 billion, marginally below estimates of $7.36 billion. Compute, its largest segment, reported revenue of $2.60 billion for the quarter, down nearly 31% from a year earlier. Annualized revenue run rate, a measure of future revenue, was up 39% at $1.30 billion in the quarter ended Oct. 31.

Persons: Brendan McDermid, Arsheeya, Maju Samuel Organizations: Hewlett Packard Enterprise Co, New York Stock Exchange, REUTERS, Hewlett Packard Enterprise, IT, Accenture, India's Tata Consultancy Services, Thomson Locations: New York City, U.S, HPE, Texas, Bengaluru

☆ India's Tata Technologies' IPO garners bids worth over $18 bln
▼ + stars: | 2023-11-24 | by ( Rama Venkat | ) www.reuters.com time to read: +2 min

A Tata sign is seen outside their offices in London, Britain March 30, 2016. REUTERS/Toby Melville//File Photo Acquire Licensing RightsBENGALURU, Nov 24 (Reuters) - India's Tata Technologies' 30.43 billion rupee ($366 million) initial public offering (IPO) remained the most oversubscribed domestic IPO this week, signalling robust demand for the Tata group's first public float in nearly two decades. Investors bid for about 3.13 billion shares worth 1.56 trillion rupees ($18.74 billion) by the close of subscriptions on Friday, compared with the 45 million shares on offer, with institutional investors showing the most interest. This is the first Tata group company IPO since Tata Consultancy Services (TCS.NS) in 2004. Tata Technologies, which provides engineering and technology services to auto, aero and heavy machinery makers, will be valued at 202.83 billion rupees at the top-end of its price band of 475-500 rupees.

Persons: Toby Melville, Arun Kejriwal, Rama Venkat, Sonia Cheema Organizations: Tata, REUTERS, Rights, India's Tata Technologies, Tata group's, Kejriwal Research, Investment Services, Tata Consultancy Services, Tata Technologies, Fedbank Financial Services, Flair, Industries, Indian Renewable Energy Development Agency, Gandhar Oil, Kejriwal, Thomson Locations: London, Britain, India, Bengaluru

☆ India's TCS to take $125 mln hit to Q3 earnings over US lawsuit
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: 1 min

Figurines with computers and smartphones are seen in front of Tata Consultanct Services logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Nov 21 (Reuters) - India's Tata Consultancy Services (TCS.NS) on Tuesday said it will make a provision of $125 million in its third-quarter results in relation to a 2014 trade secret lawsuit filed against the company by U.S.-based EPIC Systems. (This story has been corrected to say that the lawsuit was filed in 2014, not 2016, in paragraph 1)Reporting by Varun Vyas in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Varun Vyas, Varun Organizations: Tata Consultanct Services, REUTERS, Rights, India's Tata Consultancy Services, U.S, EPIC Systems, Thomson Locations: Bengaluru

☆ Indian shares set for muted opening; TCS, Cipla in focus
▼ + stars: | 2023-11-20 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBANGALORE, Nov 20 (Reuters) - Indian shares are set to open on a slightly muted note on Monday, with a focus on the global interest rate outlook after a more than 3% rally so far this month. The NSE Nifty 50 index (.NSEI) gained 1.58% last week, its best in two months, while the Sensex rose 1.37%. "Market is expected to continue its upward movement driven, by robust macro data and diminishing global concerns," SMC Global Securities said in a note. In global markets, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged up 0.3%, with investors awaiting minutes of the Fed's last meeting.

Persons: Francis Mascarenhas, Nifty, Sohini Goswami Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, U.S . Federal, SMC Global Securities, India's Tata Consultancy Services, United, United States Food, Drug Administration, CFM Mozambique, General Tax Authority, Sethuraman NR, Thomson Locations: Mumbai, India, Rights BANGALORE, Asia, Pacific, Japan, United States, Qatar, Bengaluru

A board displaying stock prices is adorned with the Australian Securities Exchange (ASX) logo in central Sydney, Australia, February 13, 2018. That will, however, take time, with the overhaul now expected to finish in 2029, some 13 years after it began. It also prompted the Australian Securities and Investments Commission (ASIC) to open an investigation into the exchange's disclosures about the project. ASX said it expected the first stage of the new project, clearing software, to cost between A$105 million and A$125 million with delivery around 2026. The cost and timing of the settlement and other software will be decided in 2024.

Persons: David Gray, Tim Whiteley, Joe Longo, Longo, Byron Kaye, Himanshi, Edwina Gibbs Organizations: Australian Securities Exchange, REUTERS, Tata Consultancy Services, New, Australian Securities and Investments Commission, Thomson Locations: Sydney, Australia, India, Finland, Canada, New York, Bengaluru

☆ Australian bourse operator partners with TCS for long due trading software overhaul
▼ + stars: | 2023-11-19 | by ( Himanshi Akhand | ) www.reuters.com time to read: +3 min

A board displaying stock prices is adorned with the Australian Securities Exchange (ASX) logo in central Sydney, Australia, February 13, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsNov 20 (Reuters) - Australian bourse operator ASX Ltd (ASX.AX) said on Monday it entered a deal with TATA Consultancy Services (TCS) <TCS.NS> to design and replace its trading, clearing and settlement system, after months of backlash since pulling a blockchain-based overhaul of the system last year. The estimated cost for the first release of the Clearing House Electronic Subregister System (CHESS) project is between A$105 million ($68.33 million) and A$125 million, to be incurred over multiple years, ASX said. ASX's initial attempt to overhaul CHESS earned rebuke from the Australian Securities and Investments Commission (ASIC) and Reserve Bank of Australia, with the regulators demanding more thorough reporting on plans to update the 30-year-old software. ($1 = 1.5366 Australian dollars)Reporting by Himanshi Akhand in Bengaluru Editing by Chris Reese and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Joe Longo, Helen Lofthouse, Himanshi, Chris Reese, Diane Craft Organizations: Australian Securities Exchange, REUTERS, TATA Consultancy Services, Australian Securities and Investments Commission, Reserve Bank of Australia, Accenture, TCS, Thomson Locations: Sydney, Australia, Australian, Bengaluru

☆ Cognizant forecasts quarterly revenue below estimates on weak corporate spending
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

The Teaneck, New Jersey-based company expects current-quarter revenue between $4.69 billion and $4.82 billion, compared with market estimates of $4.86 billion, according to LSEG data. Indian IT services giants Infosys (INFY.NS) cut the upper end of its annual revenue forecast earlier in Oct, raising concerns about near-term demand, while Tata Consultancy Services (TCS.NS) reported weaker-than-expected quarterly revenue. The company expects annual adjusted profit per share in the range of $4.39 to $4.42, from its prior estimate of between $4.25 and $4.48. Revenue for the third quarter stood at $4.90 billion, slightly below estimates of $4.91 billion. The company reported a profit of $1.04 per share, compared with $1.22 per share a year earlier.

Persons: Dado Ruvic, Cognizant, Jan Siegmund, Jaspreet Singh, Anil D'Silva Organizations: REUTERS, Technology Solutions, Wall, Infosys, Tata Consultancy Services, Accenture, Thomson Locations: Teaneck , New Jersey, Bengaluru

☆ Infosys asks some workers to return to office 10 days a month: source
▼ + stars: | 2023-11-01 | by ( Dhanya Skariachan | ) www.reuters.com time to read: +1 min

The Infosys logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsNov 1 (Reuters) - India's No.2 software-services exporter Infosys Ltd (INFY.NS) has asked some of its employees to work from office 10 days a month, a source familiar with the matter said on Wednesday. Narayana Murthy courted controversy by urging young Indians to work 70 hours a week for the development of the country. Larger rival Tata Consultancy Services (TCS.NS) has already asked workers to return to the office for five days a week. Tech giants Amazon.com Inc (AMZN.O) and Alphabet Inc's (GOOGL.O) Google have also told workers to work from office for at least a few days every week.

Persons: Chris Helgren, Salil Parekh, N.R, Narayana Murthy, Dhanya Organizations: Infosys, REUTERS, Tata Consultancy Services, Tech, Amazon.com Inc, Google, Thomson Locations: Toronto , Ontario, Canada

☆ India's Tech Mahindra posts biggest profit fall in 16 years
▼ + stars: | 2023-10-25 | by ( Manvi Pant | ) www.reuters.com time to read: +2 min

BENGALURU, Oct 25 (Reuters) - India's Tech Mahindra (TEML.NS) on Wednesday posted its biggest fall in profit in over 16 years as expenses mounted and clients tightened spending amid a tough macroeconomic environment. Tech Mahindra's net profit for the quarter fell 61.6%, its worst performance since March 2007. Consolidated revenue from operations fell 2.02% year-on-year, while expenses rose nearly 7%, led by a 30% jump in "other expenses." "Near-term demand environment remains challenging as the telecom sector, on which Tech Mahindra has a high dependence remains stressed," said Piyush Pandey lead analyst, Yes Securities. Shares of Tech Mahindra closed 1.2% lower ahead of results, with trade volume just shy of three-quarters of the 30-day average.

Persons: Piyush Pandey, Manvi, Varun Organizations: India's Tech Mahindra, Tata Consultancy Services, Infosys, Tech, Consolidated, Tech Mahindra, Yes Securities, Thomson Locations: BENGALURU, dealmaking, U.S, Europe, EBIT, Manvi Pant, Bengaluru

☆ India's Coforge posts 16% jump in Q2 revenue, reiterates full-year forecast
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Oct 19 (Reuters) - Indian IT services company Coforge (COFO.NS) on Thursday reported a 16.2% jump in second-quarter revenue and reiterated its revenue growth forecast for fiscal year 2024, aided by new deal wins amid a challenging macroeconomic environment. Consolidated revenue from operations rose to 22.76 billion rupees ($273.4 million) for the quarter ended Sept. 30. Coforge's order intake for the quarter rose to $313 million, from $304 million last year. The company's revenue growth beat peers Tata Consultancy Services (TCS.NS), which missed estimates and LTIMindtree, which posted a smaller 8.2% increase. It, however, lagged behind Persistent Systems (PERS.NS), which posted an 18% growth in revenue and a 20% growth in profit.

Persons: Nishit Navin, Varun Organizations: Indian IT, Indian, Tata Consultancy Services, Thomson Locations: BENGALURU, Indian, LSEG, Bengaluru

☆ India's Cyient beats Q2 revenue estimates on sustainability, transport demand
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 19 (Reuters) - India's Cyient (CYIE.NS) on Thursday reported a bigger-than-expected rise in its second-quarter revenue on strong growth in sustainability and transportation segments. The company's consolidated net profit saw an over two-fold rise to 1.78 billion rupees in the September quarter from a year earlier. Revenue from its biggest digital, engineering and technology segment rose 22% to 14.76 billion rupees during the quarter. Revenue from the sustainability business rose nearly 72%, while the transportation segment saw a growth of 22%. Cyient's revenue growth was stronger compared with its larger peers.

Persons: Kashish Tandon, Mrigank Organizations: Revenue, Tata Consultancy Services, Wipro, Infosys, DLM, Thomson Locations: BENGALURU, Bengaluru

☆ India's Tata Elxsi posts rise in Q2 profit on uptick in transportation business
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Indian design and technology services company Tata Elxsi (TTEX.NS) on Tuesday posted a rise in quarterly profit, helped by growth in its transportation segment. The company's net profit rose 14.8% year-on-year to 2 billion rupees ($24.03 million), while revenue from operations climbed to 8.82 billion rupees. For further results highlights, click [Full Story]WHY IT MATTERSTata Elxsi's results come after larger peers Tata Consultancy Services (TCS.NS) and Infosys (INFY.NS) posted an 8.7% and 3.2% rise in profit for the quarter, respectively, while flagging weak client spending amid inflationary pressures and high interest rates. The company's transportation business grew 26.1% year-on-year, helped by large deals and strong traction in Software Defined Vehicle engagements. JULY-SEPTEMBER STOCK PERFORMANCEPEER COMPARISON* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT-- All data from Refinitiv($1 = 83.2207 Indian rupees)Reporting by Aleef Jahan in Bengaluru; Editing by Varun H K and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Aleef Jahan, Varun, Sohini Organizations: Tata, Tata Consultancy Services, Infosys, Thomson Locations: Bengaluru

☆ Waning demand for IT services hits hiring at Indian tech majors
▼ + stars: | 2023-10-13 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

Tata Consultancy Services (TCS.NS), Infosys (INFY.NS) and HCLTech (HCLT.NS) have seen employee headcount reducing in the second quarter as they reported weak results. Infosys added over 83,000 employees in the last two fiscal years, while TCS' employee headcount surged by over 120,000 and HCL added about 57,000. In contrast, Infosys' net employee headcount has fallen by 14,470 in the first half of this year and HCLTech's by about 4,800. "In a way we hired ahead of demand predicted ... with that slowing down this year, our employee utilization fell. Infosys is targeting 84%-85% in employee utilization from the current 81.8%, Roy said.

Persons: Vivek Prakash, Phil Fersht, headcount, Nilanjan Roy, Roy, Nivedita Organizations: Infosys, Electronics City IT, REUTERS, Rights, Tata Consultancy Services, HCL, Analysts, TCS, Sethuraman, Navamya, Thomson Locations: Bangalore, Indian, U.S, Bengaluru

☆ Infosys campus pullback signals hard jobs reboot
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Employees of Indian software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012. REUTERS/Vivek Prakash/File Photo Acquire Licensing RightsBENGALURU, Oct 13 (Reuters Breakingviews) - Clients are cutting back on IT spending as the global economy slows. India’s second biggest technology services firm by market capitalisation Infosys (INFY.NS) has twice cut its revenue growth forecast this year. IT firms provide well-paying jobs in urban India where less than half of workers have regular wages or salaries. As a result, Infosys revenue grew 16% annually between financial year 2021 and 2023, twice the rate during the prior three years.

Persons: Vivek Prakash, That’s, Pranav Kiran, Una Galani, Thomas Shum Organizations: Indian, Infosys, REUTERS, Rights, Reuters, U.S, Tata Consultancy Services, X, Ericsson, Qantas, Thomson Locations: Electronic, Bangalore, India

☆ Tata Consultancy Services says 100,000 of its employees are already trained on generative AI
▼ + stars: | 2023-10-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTata Consultancy Services says 100,000 of its employees are already trained on generative AIN. Ganapathy Subramaniam, chief operating officer of Tata Consultancy Services, talks about the company's plans to monetize generative artificial intelligence tools, and outlines partnerships with companies like Nvidia.

Persons: Ganapathy Subramaniam Organizations: Tata Consultancy Services, Nvidia

☆ India's Infosys cuts top end of FY revenue outlook
▼ + stars: | 2023-10-12 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

The No.2 Indian software-services exporter said it now sees full-year revenue growth at 1%-2.5% on a constant currency basis, versus a prior view of 1%-3.5%. Consolidated net profit at Infosys rose to 62.12 billion rupees ($746.46 million) in the quarter ended Sept. 30, from 60.21 billion rupees a year ago. Analysts had expected a profit of 62.95 billion rupees, as per LSEG IBES data. Last month, leading global IT services provider Accenture forecast full-year earnings and first-quarter revenue below Wall Street targets. Large deal signing for Infosys jumped nearly three-fold from the year-ago period to $7.7 billion in the quarter.

Persons: Vivek Prakash, Peter Bendor, Indranil Sarkar, Nivedita Organizations: Infosys, Electronics City IT, REUTERS, Rights, Tata Consultancy Services, Everest Group, Reuters, Consolidated, Accenture, Sethuraman, Thomson Locations: Bangalore, U.S, Mumbai, Bengaluru

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