TCS to help UK’s Marks & Spencer become ‘digital first’

Tata Consultancy Services said it has entered into a five-year deal with long-time customer and retail chain Marks and Spencer to transform its customer experience and make it a ‘digital first’ business. “TCS will be Marks & Spencer’s principal technology partner and drive agility, intelligence, innovation and efficiency to transform the retailer’s customer experience and […]

Infosys to bring down on-site employee numbers going forward

IT services provider Infosys Ltd said it has largely exhausted the possibility of improving its profit margins by increasing employee utilization levels and will focus on bringing down on-site employee numbers to boost margins. The company reported an employee utilization level of 84.9% for the three months ended December — an all-time record — compared […]

Infosys reports in-line quarter, revenue up 5.8% YoY in constant currency

Infosys reported a quarter that was largely in line with expectations and said it retains its full-year revenue growth guidance at 5.5-6.5%, excluding the impact of currency movements. With nine months gone, the company has grown at 5.6% in constant currency terms so far. For the third quarter, revenue in constant currency was up 0.8% […]

TCS reports 1.2% sales growth QoQ, PAT up 1.3%

Tata Consultancy Services reported a 1.3% improvement in revenue in constant currency terms, which is less than the 1.7% improvement reported in the previous quarter, but largely in line with expectations for a tame quarter. Revenue grew 6.2% on year in constant currency terms. In rupee terms, the company’s revenue was at 30,904 crore; up […]

Zensar Tech CFO resigns with immediate effect

Zensar Technologies, the IT services company from the RPG Group, said its chief financial officer Manoj Jaiswal resigned with immediate effect. “He will be relieved from his duties with effect from the closing of business hours on Dec 4,” the company said. It was not clear why the CFO resigned abruptly. Zensar Technologies also said […]

Bangalore, ‘cultural fit’ swung it for Salil Parekh – Search Committee Head

Two crucial factors that swung the decision in favor of hiring Capgemini veteran Salil Parekh as the new CEO of Infosys were his familiarity with working in the IT sector in Bangalore and his overall ‘cultural fit’ with the Indian IT industry, said Kiran Mazumdar-Shaw, who heads the committee that spearheaded the search for a […]

Boosted by Jio’s success, Mukesh Ambani unveils his future plans

Mukesh Ambani, India’s richest man, said telecom was the first of his big bet, and he will now use his resources to solve problems in three other difficult areas — agriculture, education and healthcare. Speaking at the HT Leadership Summit, Ambani said his primary motivation was not to make money. “Money has never meant much […]

TCS sets up new delivery center in Hyderabad for US-based Zebra Technologies

Tata Consultancy Services, India’s biggest foreign exchange generator, said it has set up a Global Development Center in Hyderabad to cater to Zebra Technologies, a billion-dollar US corporation that specializes in tracking technologies such as bar codes and RFID. The new center will provide “operational efficiencies and an enhanced customer experience” for the client, TCS […]

Oracle Financial Services has yet another stellar quarter, sales up 12%

Banking software maker Oracle Financial Services Software, formerly known as iflex, reported strong year-on-year numbers characterized by robust revenue growth and strict control over costs, however revenue slipped on a sequential basis. Consolidated revenue for the quarter was Rs. 1190 Crore, up 12% compared to quarter ended September 30, 2016 and down 1% compared to […]

TCS inaugurates mega campus in Thane, to eventually relocate most Mumbai employees

Tata Consultancy Services said it inaugurated the first phase of Thane delivery center that will have the capacity to seat 30,000 employees when fully developed, which will make it the largest in Mumbai. The company, which has a huge operation in Vikhroli in the city, said it will eventually consolidate its Mumbai operations at the […]

Cognizant raises lower-end of 2017 guidance again

IT services provider Cognizant seemed all set to clock the upper end of its full-year guidance for calendar year 2017, raising the lower-end of its forecast once again. The company, which had changed its revenue growth forecast for 2017 to 9-10% from 8-10% last quarter, further fine-tuned it to 9.5%-10.0% this time. It now expects […]

HCL, Red Hat to jointly offer cloud infrastructure leasing service

HCL Technologies, one of the top five Indian IT services companies, said it has tied up with Red Hat — the biggest open source software company — to offer Linux-based virtual infrastructure for companies. Under the product, clients will be able to lease cloud computing infrastructure from HCL that are more efficient that traditional cloud […]

Indian IT sector margins to fall to 21.2% from 23.5% by 2020 – ICRA

Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]

Wipro increases stake in Oracle cloud specialist Drivestream to 44%

IT company Wipro Ltd said it increased its stake Drivestream, which focuses on implementing Oracle’s cloud solutions, to 43.7% from 26.1% by investing around Rs 26 cr. Wipro had first invested in the company about four months ago, and seems to have liked what it saw. It made the latest investment by converting some of […]

Ramco wins multi-million managed services deal from British MNC Bank

Cloud-based enterprise software provider Ramco Systems said it won a multi-million dollar order from a big British MNC financial group to provide managed payroll services. Ramco will help the company, part of the FTSE 100 index, to consolidate its payroll operations in 14 countries on a unified platform. It will cover 8500+ employees across Asia […]

Wipro acquires 25-year-old US-based design consultancy Cooper

Wipro said it has agreed to acquire US-based design consultancy Cooper, without disclosing the financial details. “Headquartered in San Francisco, Cooper has been a leading brand in interaction design, UX and professional design education for more than 25 years,” the Indian IT company said. Founded by Sue Cooper and Alan Cooper, the ‘Father of Visual […]

Infosys wins SAP contract from Finnish lift-maker KONE

IT outsourcing company Infosys said it has been chosen as a partner by lift-maker KONE for developing and maintaining its enterprise resource planning or ERP system. Infosys has been able to “transition, elevate, evolve and transform” KONE’s ERP service delivery and landscape, said Nitesh Banga, Senior Vice President and Global Head of Manufacturing, for the […]

Cyient ties up with US start-up to incorporate AI tech in power solution

Mumbai-based IT services provider Cyient said it has signed an agreement to incorporate machine learning meter and voltage signature technology from US-based startup Elpis in its solutions for power utilities. “Through this agreement, Cyient and Elpis will jointly pursue utility business opportunities, by leveraging their complementing solutions and technology respectively. “The partnership will combine Cyient’s […]

Nucleus Software wins loan software order from Finova Capital NBFC

Nucleus Software, which provides IT solutions for financial services companies, said its loan management solution has been selected by Finova Capital, a Jaipur-based Non-Banking Financial Company (NBFC) to digitise its lending business. Founded in 2015, Finova Capital offers business loans to lower income segments in rural and urban areas. “As a part of their strategic […]

Cyient sells stake in Pratt & Whitney JV

IT company Cyient said it signed an agreement to divest its 49% equity ownership in IASI, its joint venture with Pratt & Whitney, as it exits its IT services business. The Indian company will get $1.8 mln for the stake from United Technologies Corporation, the buyer, after a dividend disbursement of $9.1 mln from the […]