Saturday, December 21

Tag: it companies

IT major Infosys loses $1.5 billion contract from global customer
24Dec By adminNo Comments
Business

IT major Infosys loses $1.5 billion contract from global customer

Infosys on Saturday announced that a global client has terminated a $1.5 billion deal.  In September this year, India’s second-largest IT services company, Infosys had announced the signing of a $1.5 billion deal with a global company (which they had not named) to provide enhanced digital experience along with modernization and business operations services, leveraging Infosys platforms and AI solutions. The deal was for a 15-year duration. In a filing on the exchanges, Infosys said, “The global company has now elected to terminate the Memorandum of Understanding and the parties will not be pursuing the Master Agreement.”  “This is in continuation to the disclosure made by Infosys vide letter dated September 14, 2023, titled “Company update” with respect to a Me...
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Wipro may skip salary hikes for top performers with higher compensation
9Nov By adminNo Comments
Business

Wipro may skip salary hikes for top performers with higher compensation

Wipro may skip giving hikes to "top performers with higher compensation" in its largest business line in the upcoming round of salary revisions in December, news agency Reuters reported on Thursday citing an internal memo.  The move comes at a time when the company is dealing with a plethora of problems ranging from weak client spending to tough competition from larger rivals.  "We are doing a selective MSI (merit salary increases) rollout based on our business affordability," Nagendra Bandaru, the managing partner and president of the "Enterprise Futuring" business line told employees in an e-mail, according to Reuters. Wipro will prioritise employees with lower compensation among those eligible for a raise, Bandaru highlighted, adding that "top performers wit...
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Employees In These Sectors Likely To Get Up to 20% Diwali Bonus This Year
3Nov By adminNo Comments
Business

Employees In These Sectors Likely To Get Up to 20% Diwali Bonus This Year

Curated By: Business DeskLast Updated: November 02, 2023, 19:49 ISTA bonus is an additional pay that a company provides to its employees.Employees, staffing firms and human resource consultants may get bonus payments of about 20 percent of their monthly salaries.Diwali is the festival of lights and is often associated with exchanging gifts and eating delicious foods. This year, the auspicious occasion may turn out to be a day of happiness for those employed in Fast-moving Consumer Goods (FMCG) and manufacturing companies. Employees, staffing firms and human resource consultants may get bonus payments of about 20 percent of their monthly salaries. Staffing firm CIEL HR’s survey found that about 58 percent of 160 participants from the manufacturing segment will be giving Diwali bonuses thi...
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IT companies’ forex revenue exceeds earnings of other manufacturers in FY23
14Sep By adminNo Comments
Business

IT companies’ forex revenue exceeds earnings of other manufacturers in FY23

Rupay forex card out soon: Should you pick one over a credit/ debit card?Stocks to Watch today, May 23: PolicyBazaar, BPCL, Vedanta, NMDC, JSW SteelKansai Nerolac, Canara Bank, Mankind Pharma among top stocks to watch todayStocks to Watch Today: L&T. DRL, Adani Group, Asian Paints, Hero MotoStocks to Watch on May 12: Adani Total, RIL, TaMo, ONGC, Vedanta, MankindDholera SIR all ready to kickstart its plug-and-play infrastructureIndia not considering import tax incentives for Tesla, says Piyush GoyalIndia, EU officials to discuss New Delhi's concerns over carbon border levyBFSI sector saw highest rise in data science, analytics jobs in 2023: StudyCabinet approves Rs 9,589 cr FDI in Suven Pharma by Cyprus bases firm
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Net profit rises 7.6% YoY to Rs 3,534 crore
12Jul By adminNo Comments
Business

Net profit rises 7.6% YoY to Rs 3,534 crore

IT services firm HCLTech on Wednesday reported a 7.6 per cent year-on-year (YoY) growth in net profit in the first quarter of 2023-24 that ended on June 30. Net profit for Q1FY24 stood at Rs 3,534 crore.  As compared to the previous quarter, however, net profit was down by 11.2 per cent.  The consolidated revenue for the quarter grew 12 per cent YoY at Rs 26,296 crore as compared to Rs 23,464 crore in Q1FY23. The company retained its guidance of 6-8 per cent constant currency revenue growth for FY24, and operating margin at 18-19 per cent. Moreover, board of directors declared an interim dividend of Rs 10 per equity share for FY24. "The record date of July 20, 2023 fixed for the payment of the aforesaid interim dividend has been confirmed by the B...
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