Billionaire Azim Premji-led Wipro Ltd, which clubs businesses such as soaps, light bulbs and medical diagnostics in a diversified conglomeration led by information technology, said on Thursday it would hive off its non-IT businesses into a new privately-held company, Wipro Enterprises. HT
reports. Unlocking value in a many-legged giant
Superstorm Sandy ravaged the eastern coast of the United States, including New York, hurting the biggest market segment of the country's IT industry, but floods and power outages have not dampened the software army's spirits - thanks to the very technology they specialise in. Vivek Sinha
reports. Wall Street in disarray
Stating that the global economy is still "volatile and uncertain", National Association of Software and Services Companies (Nasscom) today said Indian firms are exploring new markets like Africa, Japan, and the Middle East.
Infosys Technologies today said it will acquire global management consultancy firm Lodestone Holding for an aggregate enterprise value of 330 million Swiss Francs (about Rs. 1,932 crore) in cash.
Indian companies are among the world's 10 lowest paying employers in the IT space, with their mid-to-senior level staff getting an average salary of $38,767 (about Rs.
21.5 lakh) per annum.
Foreign investors have increased their stake in IT companies in the April-June quarter this year, amid depreciating rupee against the dollar.
Indian IT companies supported as many as 2.8 lakh jobs in America last year amid a gloomy employment scenario in the US and have invested a whopping over five billion dollars in FDI through acquisitions and green-field projects, according to India's top envoy in Washington.
Has Infosys lost its bellwether tag? The question loomed large on Thursday after the Bangalore-based software leader reported first-quarter results that were below market expectations, HT
reports. Cloudy outlook
Infosys chief executive officer SD Shibulal said the hiring plan of the company for the year does not change although the software exporter revised downwards its revenue guidance for the year in a difficult global environment. Excerpts from an interview.
Uncertainty about spending by US and European clients in a weak global economy will likely weigh on the earnings of India's software giants Tata consultancy Services (TCS) and Infosys, analysts said on Wednesday. The domestic IT industry earns about three-quarters of its revenues from customers in the US and Europe.
IT giant Infosys paid its top management personnel a total remuneration of $10.7 million (over Rs. 50 crore) during the last fiscal, marking an increase of about 50 per cent from the previous year.
Rating agency Standard & Poor's (S&P) today revised outlook for three top Indian information technology companies -- Infosys, Tata Consultancy Services (TCS) and Wipro -- to negative from stable.
Investigation into allegations that Infosys broke visa rules to get Indian employees into the United States will put India's outsourcing industry on eggshells.
Country's second largest IT firm Infosys on Friday said it will hire 35,000 people this fiscal, including 13,000 for its BPO operations.
US authorities announced today that they have busted another payday scam, worth several million dollars, conducted on US citizens from callers in India, HT