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☆ 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

☆ Nelson Mandela: New book offers an intimate portrait of the South African leader
▼ + stars: | 2023-10-31 | by ( Tom Page | ) edition.cnn.com time to read: +3 min

Yet a new book penned by his daughter aims to take a fresh perspective on the man behind the statesman. Published by maker of luxury tomes Rizzoli, “Mandela: In Honor of an Extraordinary Life” is a photographic account of the man and his family. In an email to CNN, Dr. Mandela said she wrote the book “so that people have a better understanding of who he was (and) what formed him as a human being. “I understood my father a bit better in terms of the sacrifices that he made,” Dr. Mandela said. “Mandela: In Honor of an Extraordinary Life” is published by Rizzoli and on sale in the US and UK now.

Persons: Nelson, “ Mandela, ”, Dr, Pumla Makaziwe Mandela, Evelyn Mase, Al Sharpton, Mandela, ” Dr, “ Tata ”, “ Organizations: CNN, Rizzoli Locations: South Africa, Johannesburg, Qunu, Eastern, Robben

[1/2] A miniature airplane is placed on the displayed Air India Express and Akasa Air logos, in this illustration taken October 30, 2023. Akasa did not comment on its communication with Air India, but said the issue of pilot exits was "now behind us ... we are squarely back in growth mode". Air India declined to comment and the two chief executives did not respond to requests for comment. The dispute comes at the time of a hiring spree by Air India, with its arm, Air India Express, seeking to more than triple its fleet to 170 over five years. In recent weeks, Akasa has lost about a tenth of its 450 pilots, who left without serving out notice periods, some to join Air India Express.

Persons: Dado Ruvic, Campbell Wilson, Vinay Dube, missive Dube, Akasa, Wilson, Dube, India's Wilson, Aditya Kalra, Aditi Shah, Clarence Fernandez Organizations: Air India Express, REUTERS, Tata's, India Express, Air, Akasa, Reuters, Air India, Tata Group, Tata, of Indian Pilots, Thomson Locations: India, DELHI, Air India

Even, as it turns out, his Inter Miami teammates. He was the captain for Inter Miami to start this season. He’s making somewhere between $50 million and $60 million per season with Inter Miami, and the revenue streams are making that possible. “And then I will come back again, preseason, start from scratch and prepare for the best possible outcomes as always.”Everything is different for Inter Miami now. It was a ride like none other for Inter Miami this season, and the club knows 2024 will be another whirlwind.

Persons: — Lionel Messi, Messi, ” Yedlin, He’s, —, Pep Guardiola, Erling Haaland, “, Ballon d’Or, ”, Guardiola, Germain, Jordi Alba, They’re, “ I’ll, ” Messi, — Messi, Alba, Sergio Busquets —, Gerardo “ Tata ” Martino, ” Martino, — Luis Suarez, “ I’ve, I’ve, Drake Callender Organizations: Inter Miami, Premier League, U.S, Major League Soccer, Manchester City, Messi, Barcelona, Paris Saint, MLS, Leagues, Inter, Apple, CONCACAF, ”, Argentina, ” Inter Miami Locations: FORT LAUDERDALE, Fla, Florida, Paris, Miami, China, Argentina, Uruguayan, North America

☆ Tata to make iPhones in India after buying Wistron business
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Tata Group is seen at a business meeting organised by the Confederation of Indian Industry (CII) in New Delhi March 23, 2009. REUTERS/Vijay Mathur/File Photo Acquire Licensing RightsNEW DELHI, Oct 27 (Reuters) - Tata Group is set to start assembling Apple (AAPL.O) iPhones in India after Wistron Corp (3231.TW) approved the sale of its Indian manufacturing unit to the salt-to-software conglomerate, a minister said on Friday. A Tata company will start making iPhones in India for domestic and global markets, Deputy Minister for Information Technology Rajeev Chandrasekhar said on social media platform X. The Wistron board approved the sale of Wistron InfoComm Manufacturing India Private Limited to Tata Electronics Private Limited for an estimated $125 million, according to a statement from the Taiwan-based supplier shared by the minister. Apple has been touting India as its next big growth driver as it looks to move some production away from China.

Persons: Vijay Mathur, Information Technology Rajeev Chandrasekhar, Wistron, Narasapura, Munsif Vengattil, Blassy Boben, Alexander Smith Organizations: Tata Group, Confederation of Indian Industry, REUTERS, Apple, Wistron Corp, Tata, Information Technology, India, Limited, Tata Electronics Private Limited, Wistron, Pegatron Corp, Thomson Locations: New Delhi, DELHI, iPhones, India, Taiwan, China, Karnataka

☆ 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

The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. India taxes EVs at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars. Indian giants Tata Motors (TAMO.NS) and Mahindra & Mahindra (MAHM.NS) are backing EVs, while Toyota and Honda Motor (7267.T) want support for hybrids. Toyota has begun developing EVs while also championing hydrogen-powered cars, saying a "multi-pathway" approach is needed to solve the climate crisis. In its letter, Toyota also asks India to bring hybrid cars under a government incentive programme that offers discounts to buyers, a scheme now available only for EVs.

Persons: Anushree, Narendra Modi's, Modi's, Vikram Gulati, Gulati, Aayog, Sarita Chaganti Singh, Aditi Shah, William Mallard Organizations: Toyota, REUTERS, Tata Motors, Mahindra & Mahindra, Honda, EVs, Thomson Locations: New Delhi, India, DELHI, policymaking, Toyota's India

☆ 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 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 Tata Group mulls $1 bln infusion into super-app venture - Bloomberg News
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

The logo of Tata Group is seen at a business meeting organised by the Confederation of Indian Industry (CII) in New Delhi March 23, 2009. REUTERS/Vijay Mathur/File photo Acquire Licensing RightsBENGALURU, Oct 19 (Reuters) - India's Tata Group is considering a $1 billion capital infusion into its super app Tata Neu to improve its digital business, Bloomberg News reported on Thursday, citing people familiar with the matter. Tata may provide the capital in 2024, the report said, adding talks are ongoing and details of the deal could change. A super app combines multiple services onto one platform. Tata Neu was launched in April 2022 and offers products ranging from apparel to airline tickets, and aims to compete with a fast-growing market dominated by Amazon.com (AMZN.O) and Walmart's (WMT.N) Flipkart.

Persons: Vijay Mathur, Tata Neu, Ashna Teresa Britto, Sonia Cheema Organizations: Tata Group, Confederation of Indian Industry, REUTERS, Rights, India's Tata Group, Bloomberg, Tata, Reuters, Amazon.com, Thomson Locations: New Delhi

FORT LAUDERDALE, Fla. (AP) — Lionel Messi says he will play in Inter Miami's season finale on Saturday, although the club hasn't confirmed that is the actual plan. Inter Miami says Messi's contract, a 2 1/2-year deal that runs through the 2025 season, is worth about $150 million. Messi is also expected to play in Inter Miami’s colors in early November, when the team plays two exhibition matches in China. But a leg injury derailed his season, and essentially ended Inter Miami’s chances of making the postseason. He was able to play as a reserve on Oct. 7 against Cincinnati, but Inter Miami lost 1-0 in the outcome that sealed its playoff elimination.

Persons: — Lionel Messi, hasn't, Messi —, Messi, ” Messi, Gerardo “ Tata ” Martino, Charlotte, Ballon, It’ll, Ronald Blum, ___ Organizations: Inter, Argentina, Peru, Inter Miami's, Major League Soccer, Charlotte, Wednesday, Inter Miami, MLS, Charlotte Observer, Association, Orlando City, World, Leagues, U.S, Miami, Cincinnati, AP Locations: FORT LAUDERDALE, Fla, Inter Miami, Peru, Miami, Argentina, Paris, China, New York

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

☆ Indian shares open marginally higher on oil pullback; IT stocks slip
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: 1 min

A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 50,000 level for the first time, in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Oct 12 (Reuters) - Indian shares opened marginally higher on Thursday as moderating oil prices boosted sentiment, while a slide in information technology (IT) stocks after Tata Consultancy Services' earnings capped gains. The NSE Nifty 50 index (.NSEI) was up 0.11% at 19,832.70 as of 9:16 a.m. IST, and the S&P BSE Sensex (.BSESN) rose 0.10% to 66,549.26. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Varun Organizations: Bombay Stock Exchange, Sensex, REUTERS, Rights, Tata Consultancy Services, NSE, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ India's TCS skids on demand recovery worries after Q2 revenue miss
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Figurines with computers and smartphones are seen in front of Tata Consultancy Services logo in this illustration, July 24, 2022. The poor results and commentary from India's largest IT services provider took the shine off TCS' $2 billion share buyback announcement, and also slammed shares of peers. TCS' revenue rose 7.9% to 596.92 billion rupees ($7.18 billion) in the September quarter, it said after market hours on Wednesday, but fell short of the analysts' estimates of 602.44 billion rupees. In the post-earnings press conference, TCS also hinted that there was no clear picture of when discretionary spends will return. TCS shares are currently down 1.5%, bringing year-to-date gains to 11.4%, compared with the IT index's 13% rise this year.

Persons: Dado Ruvic, Jefferies, Nomura, Ashna Teresa Britto, Janane Organizations: Tata Consultancy Services, REUTERS, Rights, India's Tata Consultancy Services, Infosys, TCS, Thomson

☆ AI may force IT spending into economic decoupling
▼ + stars: | 2023-10-11 | by ( Pranav Kiran | ) www.reuters.com time to read: +3 min

BENGALURU, Oct 11 (Reuters Breakingviews) - Global CEOs are under pressure from investors to adopt generative artificial intelligence into their businesses. Outsourcers like $200 billion Accenture are sounding the alarm. Accenture sold $300 million in generative AI deals in the year to August, less than 1% of its $72 billion in total new bookings. Blackstone-backed Mphasis, a smaller firm, says one-third of its total contract value of $707 million for the quarter to the end of June was from “pure AI deals”. The full spectrum of how businesses can use generative AI is still emerging but there are obvious applications: customer support agents and coders are seeing productivity increases of 14% and 55% respectively.

Persons: ChatGPT, Julie Sweet, Una Galani, Thomas Shum Organizations: Reuters, Global, Accenture, Tata Consultancy Services, Infosys, HCL Technologies, Consulting, Gartner, Blackstone, Thomson Locations: BENGALURU, U.S, India

☆ India's TCS reports marginal Q2 profit beat, approves $2 bln share buyback
▼ + stars: | 2023-10-11 | by ( Sethuraman N R | ) 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. The company also approved share buyback worth 170 billion Indian rupees ($2.04 billion). Net profit rose 8.7% to 113.42 billion Indian rupees ($1.36 billion) in the three months ended Sept. 30 from 104.31 billion rupees a year earlier. Analysts, on average, had expected a profit of 113.17 billion rupees, according to LSEG data. TCS said its order book for the July-September period stood at $11.2 billion - higher than the $8.1 billion worth of deals it signed a year ago.

Persons: Dado Ruvic, Janane Organizations: Tata Consultanct Services, REUTERS, Rights, Tata Consultancy Services, TCS, Sethuraman NR, Thomson Locations: U.S, Europe, Bengaluru

☆ Insider Today: Israel's next steps
▼ + stars: | 2023-10-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementAdvertisementIn today's big story, we're looking at the latest developments in Israel's war with Hamas, including Israel's devastating airstrikes and a potentially complicated ground invasion of Gaza. What's on deck:Markets: Market experts detail how to cash in on an ailing bond market. Market experts detail how to cash in on an ailing bond market. AdvertisementAdvertisementThe Israel war is also impacting another conflict: Russia's invasion of Ukraine. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Jimmy Buffett's, margarita, Caroline Ellison, Sam Bankman, Faiz, NurPhoto, Insider's Kelsey Vlamis, Insider's Chris Panella, Amir Levy, Jake Epstein, Insider's Elias Chavez, David Donabedian, Insider's Bryan Metzger, Brendan McDermid, Jim Rogers, George Soros, Raphael Bostic, Lorie Logan, BRYAN R, SMITH Caroline Ellison, Ellison, Linda Yaccarino, X, Arantza Pena Popo, eBay's, they're, They'll, Steve Scalise, Jim Jordan, Rachael Brennan, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Tech, Getty, CNN, Hamas, CIBC Private Wealth, Ukraine, Washington Post, Republican, Elite, Quantum Fund, Soros Fund Management, Atlanta Fed, Dallas, Fed, Alameda Research, Street, Gaza, Boomers, Republicans, Ohio, The Chicago, Tata Consultancy Services, Sam's Club Locations: Florida, Gaza, Israel, Ukraine, Russia, homebuying, Louisiana, New York City, San Diego, London, New York

☆ India's TCS to consider share buyback next week
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Oct 6 (Reuters) - India's Tata Consultancy Services (TCS.NS) on Friday said it will consider a share buyback when its board meets next Wednesday to approve second-quarter financial results. TCS, India's largest information technology (IT) services firm, did not disclose the quantum of the buyback it was considering. It had last bought back shares worth 160 billion rupees ($1.92 billion) in 2020. The buyback comes at a time Indian IT services companies are grappling with an uncertain demand environment, especially in the U.S., a key market for the sector. ($1 = 83.1740 Indian rupees)Reporting by Chris Thomas in Bengaluru; Editing by Savio D'Souza and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Thomas, Savio D'Souza, Varun Organizations: India's Tata Consultancy Services, TCS, Investors, Thomson Locations: BENGALURU, Indian, U.S, Bengaluru

☆ India's Tata Group in talks with Temasek to buy back stake in Tata Play, Bloomberg reports
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

The logo of Tata Group is seen at a business meeting organised by the Confederation of Indian Industry (CII) in New Delhi March 23, 2009. REUTERS/Vijay Mathur/File photo Acquire Licensing RightsBENGALURU, Oct 5 (Reuters) - India's Tata Group is in advanced talks with Temasek Holdings [RIC:RIC:TEM.UL] to buy back about 20% stake in its entertainment content distribution platform, Tata Play, at a valuation of more than $1 billion, Bloomberg News reported on Thursday, citing people familiar with the matter. Tata Group didn't immediately respond to a Reuters request for confirmation, and Temasek declined to comment. Bloomberg News had in July reported that Tata Group is considering making an offer to buy back Temasek's stake as the conglomerate was weighing delaying a potential initial public offering for Tata Play. Tata Play is a subscription-based video streaming service for television and over-the-top apps.

Persons: Vijay Mathur, Tata Group didn't, Ashish Chandra, Kashish Tandon, Nivedita Bhattacharjee, Dhanya Ann Thoppil Organizations: Tata Group, Confederation of Indian Industry, REUTERS, Rights, India's Tata Group, Temasek Holdings, Tata, Bloomberg, Temasek, Bloomberg News, Tata Play, Thomson Locations: New Delhi, Bengaluru

☆ Cognizant appoints former Wipro finance chief Jatin Dalal as CFO
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 28 (Reuters) - Cognizant Technology Solutions (CTSH.O) on Thursday named former Wipro (WIPR.NS) chief financial officer Jatin Dalal as its CFO, a week after his resignation from the Indian information technology (IT) major. The pace of executive churn has picked up in the Indian tech industry in recent months. Dalal became Wipro's CFO in 2015, and with CEO Thierry Delaporte steered the company through the pandemic as demand for digital services boomed. "We are pleased to welcome Jatin to Cognizant and confident he will help us achieve our goals as we continue to focus on driving revenue growth," Cognizant CEO Ravi Kumar S said in the statement. Cognizant projected third-quarter revenue above estimates in August as more businesses turned to the IT services provider to digitize their operations.

Persons: Dado Ruvic, Jatin Dalal, Ravi Kumar S, Dalal, Jan Siegmund, Rajesh Gopinathan, Mohit Joshi, Wipro's, Thierry Delaporte, Jatin, Cognizant, Jaspreet Singh, Hritam Mukherjee, Varun Organizations: REUTERS, Technology Solutions, Wipro, Cognizant, Infosys, Indian, Tata Consultancy Services, Tech Mahindra, Thomson Locations: Bengaluru

☆ Accenture warns of weaker fiscal 2024 as IT spending remains under pressure
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

The logo of Irish services and consulting company Accenture is seen at an temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. Accenture expects first-quarter revenue in the range of $15.85 billion to $16.45 billion, while analysts polled by LSEG forecast $16.43 billion. The company also forecast fiscal 2024 adjusted earnings per share to be in the range of $11.97 to $12.32, below estimates of $12.45. The mid-point of its revenue growth forecast of 2% to 5% in local currency also fell short of estimates. Accenture's revenue rose 4% to $16 billion in the fourth quarter ended Aug. 31, compared with estimates of $16.08 billion.

Persons: Arnd, Julie Sweet, Chavi Mehta, Shinjini Organizations: Accenture, REUTERS, U.S, Infosys, Tata Consultancy Services, LSEG, Thomson Locations: Davos, Switzerland, Federal, Indian, Bengaluru

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