The Enforcement Directorate has conducted search operations at the premises of Amazon and Flipkart seller ...More

The Enforcement Directorate has conducted search operations at the premises of Amazon and Flipkart sellers. This and more in today’s ETtech Top 5. ...Less

The government has proposed a bill to ban unregulated lending. This and more in today’s ETtech Top 5. ...More

The government has proposed a bill to ban unregulated lending. This and more in today’s ETtech Top 5. ...Less

According to a report in the Wall Street Journal, more than 20 employees have filed complaints against TC ...More

According to a report in the Wall Street Journal, more than 20 employees have filed complaints against TCS, alleging preferential treatment towards individuals on H-1B visas. ...Less

I think after FY23, when they raised guidance in October but then missed due to sudden environmental chan ...More

I think after FY23, when they raised guidance in October but then missed due to sudden environmental changes, management is being cautious. ...Less

Happy Wednesday! Beleaguered edtech major Byju’s finally filed its much-delayed audited FY22 results with ...More

Happy Wednesday! Beleaguered edtech major Byju’s finally filed its much-delayed audited FY22 results with the Registrar of Companies. It’s also holding talks to float a rights issue at a valuation of less than $1 billion. Yes, you heard it right. More on that in today’s ETtech Morning Dispatch. ...Less

Ravi Menon from Macquarie expresses optimism for a strong run in the Indian IT sector, highlighting compa ...More

Ravi Menon from Macquarie expresses optimism for a strong run in the Indian IT sector, highlighting companies like TCS, HCL, Wipro, and LTIMindtree. He further predicts significant investments in digital transformation and AI, noting Persistent Systems as a standout midcap pick. Challenges are anticipated for sectors like telecom and automotive. ...Less

Social media buzzed when a trader commented that a Rs 25 lakh salary is unimpressive for tech professiona ...More

Social media buzzed when a trader commented that a Rs 25 lakh salary is unimpressive for tech professionals in India. While some argued this is common for mid-career professionals, especially in startups, others said such high salaries are less common. The debate highlighted differences in pay across companies post-COVID-19. ...Less

TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI ...More

TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance remains robust. Investments in talent, discretionary project validation, and technology adaptation sustain a healthy order book, even amid fewer mega deals and extended decision-making cycles. ...Less

Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking a ...More

Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch. ...Less

India’s second-largest IT company Infosys posted upbeat results for the fourth quarter. More numbers in t ...More

India’s second-largest IT company Infosys posted upbeat results for the fourth quarter. More numbers in today’s ETtech Top 5. ...Less

Some good news to chase away the Monday blues. Remember the thousands who lost their jobs globally? Accor ...More

Some good news to chase away the Monday blues. Remember the thousands who lost their jobs globally? According to experts, a big chunk of those roles could move to outsourcing hubs like India in the coming months. This and more in today’s ETtech Morning Dispatch. ...Less

Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance brokin ...More

Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance broking, wealth management and hyperlocal ecommerce. This and more in today’s ETtech Morning Dispatch. ...Less

In spite of the many startups laying off employees since last year, the Indian IT sector has so far remai ...More

In spite of the many startups laying off employees since last year, the Indian IT sector has so far remained resilient. However, the recent announcement by global IT major Accenture that it will cut 19,000 jobs has brought back some of the fears again. Accenture has opted for retrenchments to drive resilience. “We are trying to cut structural costs so that we are in a better position. We are trying to mitigate the cost by driving efficiency,” Sweet added. ...Less

Byju's quest to settle the $1.2 billion TLB feud might come at a steeper price. The embattled edtech firm ...More

Byju's quest to settle the $1.2 billion TLB feud might come at a steeper price. The embattled edtech firm might have to pony up an additional $50-60 million to service the increased interest rate it has offered to conclude the revised terms for the deal. This and more in today’s ETtech Morning Dispatch. ...Less

A clutch of domestic and foreign investors backing online gaming companies in India has sought a meeting ...More

A clutch of domestic and foreign investors backing online gaming companies in India has sought a meeting with Prime Minister Narendra Modi to voice their concerns on the 28% GST levied on the industry. ...Less

TCS chief human resources officer Milind Lakkad said the company, which employs over 6 lakh people, will ...More

TCS chief human resources officer Milind Lakkad said the company, which employs over 6 lakh people, will be announcing hikes similar to earlier years. ...Less

TCS reported a sequential revenue increase of only 0.6% in constant currency, and the employee cost as a ...More

TCS reported a sequential revenue increase of only 0.6% in constant currency, and the employee cost as a percentage of the revenue went up sequentially from 55.8% to 56.9%. ...Less

Under Gopinathan's tenure the IT services major's share rose over 160%. His resignation will be effective ...More

Under Gopinathan's tenure the IT services major's share rose over 160%. His resignation will be effective on September 15, 2023. ...Less

TCS announced their annual National Qualifier Test (NQT) for final year students graduating in 2024. This ...More

TCS announced their annual National Qualifier Test (NQT) for final year students graduating in 2024. This online test is the first step in their recruitment process for engineers and computer science graduates interested in Ninja and Digital roles. The NQT assesses candidates' aptitude and coding skills. ...Less

TCS will not lay off its employees, but will also look to recruit impacted workers, according to Chief Hu ...More

TCS will not lay off its employees, but will also look to recruit impacted workers, according to Chief Human Resources Officer of TCS Milind Lakkad. ...Less

TCS has been accused of favoring H-1B visa holders over Americans, facing discrimination claims based on ...More

TCS has been accused of favoring H-1B visa holders over Americans, facing discrimination claims based on race and age. Denies allegations, emphasizing equal opportunity. ...Less

Layoffs have now hit Reliance Industries, with its wholesale format JioMart sacking over employees, as pe ...More

Layoffs have now hit Reliance Industries, with its wholesale format JioMart sacking over employees, as per people in the know. This and more in today’s ETtech Morning Dispatch. ...Less

The government may come up with ‘negative list' of countries where cross-border data flow will be disallo ...More

The government may come up with ‘negative list' of countries where cross-border data flow will be disallowed, the minister of state for electronics and IT, Rajeev Chandrasekhar told ET. This and more in today’s ETtech Morning Dispatch. ...Less

Happy Monday. Byju’s has held discussions to pay higher interest rates to its lenders for the $1.2 billio ...More

Happy Monday. Byju’s has held discussions to pay higher interest rates to its lenders for the $1.2 billion loan the company picked up in November 2021, per sources in the know. This and more in today’s ETtech Morning Dispatch. ...Less

US tech hiring surge boosts Indian IT firms like TCS, Infosys, HCL. Job openings in tech positions increa ...More

US tech hiring surge boosts Indian IT firms like TCS, Infosys, HCL. Job openings in tech positions increase, with cities like New York, Washington, Dallas showing high demand. CompTIA forecasts further growth in the tech workforce. ...Less

One of the world’s largest crypto lenders, Genesis froze withdrawals in November after the spectacular co ...More

One of the world’s largest crypto lenders, Genesis froze withdrawals in November after the spectacular collapse of FTX. ...Less

Accenture is usually seen as a bellwether for the global IT sector, and analysts gauge the prospects for ...More

Accenture is usually seen as a bellwether for the global IT sector, and analysts gauge the prospects for the Indian IT sector based on the global firm’s commentary and business outlook. ...Less

In a big blow for the Vijay Shekhar Sharma founded fintech, the Reserve Bank of India has barred Paytm Pa ...More

In a big blow for the Vijay Shekhar Sharma founded fintech, the Reserve Bank of India has barred Paytm Payments Bank from offering all banking services after February 29. This and more in today’s ETtech Top 5. ...Less

The third-quarter IT earnings for FY24 began on a weak note as TCS posted a low single-digit rise in net ...More

The third-quarter IT earnings for FY24 began on a weak note as TCS posted a low single-digit rise in net profit while Infosys saw its profit fall 7%. This and more in today’s ETtech Top 5. ...Less

On Wednesday, Google announced it would make a slew of changes to Android in India to comply with a rulin ...More

On Wednesday, Google announced it would make a slew of changes to Android in India to comply with a ruling by the country’s competition watchdog last October, which found the tech giant guilty of abusing its market dominance. Now, a number of Indian startups have accused Google of using “delaying tactics”, saying its changes to Android are merely cosmetic. ...Less

Internet industry body IndiaTech, which represents a clutch of startups and VC investors, also said that ...More

Internet industry body IndiaTech, which represents a clutch of startups and VC investors, also said that the longer holding period for unlisted securities to be considered long-term assets means angel investors have to pay up to four times more tax if they sell a stake in an unlisted company after holding it for 18 months. ...Less

With SoftBank and Malaysia’s Khazanah pulling the plug on GoMechanic funding round after EY flagged issue ...More

With SoftBank and Malaysia’s Khazanah pulling the plug on GoMechanic funding round after EY flagged issues like inflated revenues, fictitious garages, the startup has admitted to making what its founder Amit Bhasin called “grave mistakes”. Bhasin also confirmed that the firm will sack about 70% of its employees as its investors including the likes of Sequoia, Tiger Global, Chiratae Ventures, have initiated a financial audit of the firm. ...Less

The crypto industry meanwhile has asked the government to reduce the 1% TDS on crypto transactions, and r ...More

The crypto industry meanwhile has asked the government to reduce the 1% TDS on crypto transactions, and review income tax provisions to allow investors to offset any loss incurred during the transfer of the virtual asset against income, ...Less

On Monday morning we reported that ShareChat was set to join the growing list of Indian startups that hav ...More

On Monday morning we reported that ShareChat was set to join the growing list of Indian startups that have laid off employees amid a brutal funding winter. Later in the day, CEO Ankush Sachdeva told employees in an email that the company was laying off over 500 people or about a fifth of its workforce. ...Less

"My sense is that domestic consumption right now and IT are the two engines. So sales, customer service a ...More

"My sense is that domestic consumption right now and IT are the two engines. So sales, customer service and logistics are where we see the fastest hiring and where the most open positions are. The interesting part is it is not just in 50 cities, we probably have employees in 4,000 cities but our 400 cities are now starting to look like places where demand is. So is this the second tier, third tier are just saving less and consuming more or is there more income? It is still too early to say." ...Less

While the fallout from Apple’s move is still playing out, there’s little doubt it has delivered a swift u ...More

While the fallout from Apple’s move is still playing out, there’s little doubt it has delivered a swift uppercut cut to Meta’s once-invincible ads business. The only consolation has been that Meta can still track its users’ activity within Facebook or Instagram to show them targeted ads. ...Less

Ride-hailing company Ola has decided to not lay off the 200 engineers the company was earlier planning to ...More

Ride-hailing company Ola has decided to not lay off the 200 engineers the company was earlier planning to let go, according to sources in the know. We had reported on September 19 about these 200 engineers being fired across its ride-hailing and fintech businesses in a fresh round of layoffs. ...Less

In the last few months, most IT services companies have taken a tough stance on the practice of employees ...More

In the last few months, most IT services companies have taken a tough stance on the practice of employees moonlighting, with cross-town rival Wipro letting go off 300 employees for working for competition. ...Less

CEO Mark Zuckerberg took the blame for the company’s first-ever mass sacking, saying he was guilty of ove ...More

CEO Mark Zuckerberg took the blame for the company’s first-ever mass sacking, saying he was guilty of over-optimism about its future after growth surged during the pandemic. ...Less

Techies are battling the highest increase in house prices and rentals as landlords have started charging ...More

Techies are battling the highest increase in house prices and rentals as landlords have started charging inordinate amounts amid the return-to-office demands of managements, as per data accessed by ET. ...Less

“Awareness of workers' rights keeps increasing as we come across more judgments of similar nature. As thi ...More

“Awareness of workers' rights keeps increasing as we come across more judgments of similar nature. As this order involves one of the largest Indian IT companies, it will create an impact on the industry with respect to employment termination cases,” said Vikram Shroff, head, human resource laws (employment and labour) at Nishith Desai Associates. ...Less

Report speculative, Board fully supports strategic direction, management team: Cognizant ...More

Report speculative, Board fully supports strategic direction, management team: Cognizant ...Less

TCS' rate of staff attrition, the percentage of those retiring or leaving for other reasons, rose to 17.4 ...More

TCS' rate of staff attrition, the percentage of those retiring or leaving for other reasons, rose to 17.4% in the quarter-ending March 2022 from 15.1% in the whole of 2021, as India's IT services sector experiences a tech talent crunch and high staff turnover. ...Less

Happy Friday! Banks are pushing the pedal on their cobranded credit card strategy as they gain traction t ...More

Happy Friday! Banks are pushing the pedal on their cobranded credit card strategy as they gain traction through large consumer facing internet companies. This and more in today’s ETtech Morning Dispatch ...Less

While the ITeS sector will continue to grow near double-digit levels, headcount will shrink in 2024 by at ...More

While the ITeS sector will continue to grow near double-digit levels, headcount will shrink in 2024 by at least 5 percentage points. If the sector does not shed people, it would indicate seeping complacency, a lack of understanding of the impact of new technologies, and an incipient loss of competitiveness. It needs to reduce headcount, and stay competitive and relevant in the face of automation and AI. ...Less

The software services behemoth said currency headwinds and wage inflation had a direct impact on its deci ...More

The software services behemoth said currency headwinds and wage inflation had a direct impact on its decision to lay off employees. ...Less

This week, Terra’s creator Do Kwon was fined $78 million by tax authorities and faces an investigation in ...More

This week, Terra’s creator Do Kwon was fined $78 million by tax authorities and faces an investigation in South Korea, another stablecoin lost its peg to the dollar, and regulators vowed to rein in the controversial assets. ...Less

The company, which is backed by SoftBank and Alpha Wave Global, joins a growing list of startups that hav ...More

The company, which is backed by SoftBank and Alpha Wave Global, joins a growing list of startups that have fired employees to conserve cash amid a slowdown in funding. ...Less

Despite the fact in the last one year, only negative things have been said about IT companies, look at th ...More

Despite the fact in the last one year, only negative things have been said about IT companies, look at their stocks performance. Except one large IT stock which had been a perennial under performer, most of the other IT stocks are not very far from the highs they had touched almost two years back. Infact relative performance of some IT is far better than many of the stocks and sectors which have been headlines. While it might be contrarian buy, there is high probability that IT stocks perform better than most in bearish market conditions. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. ...Less

IT firms have been battling record attrition of late, so startups’ loss is their gain. ...More

IT firms have been battling record attrition of late, so startups’ loss is their gain. ...Less

Most of the investors look at IT stock on a standalone basis as companies for bottomline line. Now let's ...More

Most of the investors look at IT stock on a standalone basis as companies for bottomline line. Now let's look at it from the perspective, an economy where the biggest export is software services, shouldn't one be watchful when that sector says growth will moderate and there are layoffs in the sector. So if there is a slowdown in the IT sector there is a high probability that other sectors of the economy may also face pressure, specifically the ones where there is a high element of discretionary consumption. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. ...Less

With macroeconomic headwinds stalling growth, hiring across the IT sector is likely to take a hit in the ...More

With macroeconomic headwinds stalling growth, hiring across the IT sector is likely to take a hit in the coming months. And with no green shoots propping up anywhere, a respite is nowhere in sight. ...Less

N Chandrasekaran, Tata Sons chairperson, informed shareholders during the TCS Annual General Meeting (AGM ...More

N Chandrasekaran, Tata Sons chairperson, informed shareholders during the TCS Annual General Meeting (AGM) that the company has sacked six employees and banned as many staffing firms after allegations by a whistleblower surfaced a recruitment scam. This and more in today’s ETtech Morning Dispatch. ...Less

To curtail the spread of illegal online gambling and betting via offshore platforms in the country, the C ...More

To curtail the spread of illegal online gambling and betting via offshore platforms in the country, the Centre is planning to tighten the rules, especially on UPI payments. This and more in today’s ETtech Top 5. ...Less

OK, Tata. A day after India’s largest tech company Tata Consultancy Services (TCS) kicked off the earning ...More

OK, Tata. A day after India’s largest tech company Tata Consultancy Services (TCS) kicked off the earnings season with subdued numbers, CEO & MD K Krithivasan sat down with ETtech, talking about everything from the latest recruitment scandal in the company to macroeconomic indicators. This and more in today’s ETtech Morning Dispatch. ...Less

Fist bump, on hump day. In a major setback to India’s online gaming industry, the GST Council decided to ...More

Fist bump, on hump day. In a major setback to India’s online gaming industry, the GST Council decided to levy a 28% tax on the full value of monies paid by users, a move industry stakeholders have termed “unconstitutional and irrational”. This and more in today’s ETtech Morning Dispatch. ...Less

India’s startup landscape, meanwhile, is caught in a time warp, with embarrassed investors marking down t ...More

India’s startup landscape, meanwhile, is caught in a time warp, with embarrassed investors marking down their stakes in Byju’s, an online education company collapsing under the weight of its own reckless growth. ...Less

CaratLane Trading is under the lens of the Enforcement Directorate (ED) for alleged violation of Foreign ...More

CaratLane Trading is under the lens of the Enforcement Directorate (ED) for alleged violation of Foreign Direct Investment (FDI) regulations. The omnichannel retailer has challenged a show-cause notice issued by the investigative authority, sources tell us. This and more in today’s Morning Dispatch. ...Less

???The company's promise to continue with the normal wage hikes will hit the operating profit margins by ...More

???The company's promise to continue with the normal wage hikes will hit the operating profit margins by a further 1.70-1.75% in the June quarter, its chief financial officer Samir Seksaria said ...Less

The quantum of variable pay during Q4 has taken a hit for many companies as they struggle with extended d ...More

The quantum of variable pay during Q4 has taken a hit for many companies as they struggle with extended deal closure cycles and a cautious spending environment. ...Less

This comes as India's largest software exporter had a drop of 2,197 employees sequentially in Q3. ...More

This comes as India's largest software exporter had a drop of 2,197 employees sequentially in Q3. ...Less

Perhaps what could turn out to be one of the most crucial acts for Digital India was undertaken by the In ...More

Perhaps what could turn out to be one of the most crucial acts for Digital India was undertaken by the Indian Parliament through the passage of the Digital Personal Data Protection Bill, 2023 earlier this week. While the law will impact every entity in this country that deals in the personal data of Indian citizens, tech companies and consumer facing startups are perhaps going to be impacted the most. ...Less

The number of female employees increased 6.5% at these IT companies in FY23, outpacing growth in their to ...More

The number of female employees increased 6.5% at these IT companies in FY23, outpacing growth in their total headcount, which was 5.9%, according to a survey commissioned by ET and conducted by staffing firm Xpheno. ...Less

In a move that Vijay Shekhar Sharma no doubt hopes will please regulators and convince them to greenlight ...More

In a move that Vijay Shekhar Sharma no doubt hopes will please regulators and convince them to greenlight the Paytm founder’s business plans, Ant Financial has transferred a 10% stake in the fintech major to an entity owned by Sharma. The transaction will reduce Chinese representation on the cap table of One 97 Communications, Paytm’s parent. This and more in today’s ETtech Top 5. ...Less

Data from Jefferies shows a cumulative 4.6% dip in sequential revenue from the vertical across IT majors, ...More

Data from Jefferies shows a cumulative 4.6% dip in sequential revenue from the vertical across IT majors, the highest vertical-wise dip compared to all other segments, while revenue from Banking, financial services, insurance (BFSI), which is the largest revenue contributor for the Indian IT industry — saw revenue declining by a lesser percentage — 0.8% during the same period. ...Less

Bouncing back from Covid-19, Airbnb in 2022 saw a 70% growth in overnight bookings in India, one of its b ...More

Bouncing back from Covid-19, Airbnb in 2022 saw a 70% growth in overnight bookings in India, one of its biggest markets, CEO Brian Chesky told us in an exclusive chat. This and more in today’s ETtech Morning Dispatch. ...Less

While the initial buzz was that JFS would start off with a lending business given that it has an NBFC lic ...More

While the initial buzz was that JFS would start off with a lending business given that it has an NBFC licence, the joint venture announcement stumped many. ...Less

This week was Dunzo’s worst ever since it pivoted to quick commerce with Dunzo Daily in 2021. At ETtech, ...More

This week was Dunzo’s worst ever since it pivoted to quick commerce with Dunzo Daily in 2021. At ETtech, we have been closely tracking the Reliance Retail and Google-backed firm. What has come to pass has been in the making for a while. ...Less

Every silver lining has a cloud. Infosys announced its first quarter results on Thursday, reporting an 11 ...More

Every silver lining has a cloud. Infosys announced its first quarter results on Thursday, reporting an 11% rise in profit on-year. However, the company cut its revenue guidance, highlighting the macro challenges for the IT sector. This and more in today’s ETtech Morning Dispatch. ...Less

The 58-year old executive said the company is "comfortable" with its business model and not perturbed by ...More

The 58-year old executive said the company is "comfortable" with its business model and not perturbed by smaller rival Infosys adding more net business over the last few quarters despite being almost half in size. ...Less

Fintech firm PhonePe has raised another $100 million from existing backer General Atlantic and its affili ...More

Fintech firm PhonePe has raised another $100 million from existing backer General Atlantic and its affiliate funds at a $12-billion pre-money valuation. This is PhonePe’s fourth tranche of funding after it announced a separation of ownership from Flipkart last December. ...Less

Troubled edtech major Byju’s said it has appointed Rajnish Kumar, former SBI chief, and ex-Infosys CFO Mo ...More

Troubled edtech major Byju’s said it has appointed Rajnish Kumar, former SBI chief, and ex-Infosys CFO Mohandas Pai to its Board Advisory Committee. This and more in today’s ETtech Top 5. ...Less

By calling out the widespread adoption of private crypto currencies as a risk to monetary stability, the ...More

By calling out the widespread adoption of private crypto currencies as a risk to monetary stability, the RBI has indicated to the market that its stance will only get harder going forward. ...Less

Most analysts expect the Indian IT sector to grow its revenue in mid- to high-single digits year on year ...More

Most analysts expect the Indian IT sector to grow its revenue in mid- to high-single digits year on year in FY24, a steep climb down from the high growth registered in the past two years post the pandemic. ...Less

When India’s Information Technology Act came into being in October 2000, Facebook was four years away fro ...More

When India’s Information Technology Act came into being in October 2000, Facebook was four years away from its inception, the first iPhone wouldn't be launched for the next seven years, and the Nasdaq was experiencing an unprecedented implosion of the dotcom bubble. The internet has changed a lot since. Now, to replace the IT Act of 2000, the government is bringing the Digital India Act, the draft of which will be open for public consultation in the next two weeks. This and more in today’s ETtech Morning Dispatch. ...Less

After its failed ZestMoney acquisition, PhonePe is kickstarting its credit journey with merchant lending. ...More

After its failed ZestMoney acquisition, PhonePe is kickstarting its credit journey with merchant lending. ...Less

Krishnan Ramanujam said it is as bad a judgment call for an employee to take steep salary hikes for no di ...More

Krishnan Ramanujam said it is as bad a judgment call for an employee to take steep salary hikes for no discernible reason as it is for an employer to offer the same. ...Less

The introduction of platforms like ChatGPT has led to concerns on whether a trained human is needed at al ...More

The introduction of platforms like ChatGPT has led to concerns on whether a trained human is needed at all to deliver the work which a technology company offers to clients. ...Less

Attrition was also driven by this lack of supply. People were in a negative spiral of hiring from each ot ...More

Attrition was also driven by this lack of supply. People were in a negative spiral of hiring from each other and driving attrition. As the supply side eases out, that kind of a (talent) demand goes off the table, said TCS CEO Rajesh Gopinath ...Less

Online pharmacy PharmEasy recorded a positive ebitda of around Rs 14 crore, which means it is operational ...More

Online pharmacy PharmEasy recorded a positive ebitda of around Rs 14 crore, which means it is operationally profitable, even as one of its investors marked its valuation down to $2.8 billion. This and more in today’s ETtech Morning Dispatch. ...Less

Industry experts said the top players like Tata Consultancy Services (TCS), HCLTech, Infosys, and Wipro w ...More

Industry experts said the top players like Tata Consultancy Services (TCS), HCLTech, Infosys, and Wipro will be better positioned to tap this opportunity, as quite a few such deals fall under traditional outsourcing requirements. ...Less

Government-backed Open Network for Digital Commerce (ONDC) is set for rough weather ahead as the platform ...More

Government-backed Open Network for Digital Commerce (ONDC) is set for rough weather ahead as the platform faces roadblocks while scaling. This and more in ETtech’s Morning Dispatch. ...Less

Attrition has tapered from peak levels of 25-30% last year to about 20% in the December quarter and the c ...More

Attrition has tapered from peak levels of 25-30% last year to about 20% in the December quarter and the consequent lag in salary hikes is likely to help companies improve operating margins, which have been under pressure due to the high cost of talent. ...Less

The market landscape and dynamics have changed in the past year amid the government’s investigations agai ...More

The market landscape and dynamics have changed in the past year amid the government’s investigations against electric two-wheeler manufacturers over subsidies claimed under government scheme FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India). This scheme was launched in 2011 as part of the National Mission on Electric Mobility. ...Less

Ravi Kumar S, who took over as the chief of US-headquartered IT firm Cognizant four months ago, has terme ...More

Ravi Kumar S, who took over as the chief of US-headquartered IT firm Cognizant four months ago, has termed the last quarter “historic” amid a cautious macro environment. ...Less

Wipro guided for a revenue drop between 1% and 3% in the April-June quarter, owing to a negative demand o ...More

Wipro guided for a revenue drop between 1% and 3% in the April-June quarter, owing to a negative demand outlook. This is below estimates by brokerage houses such as Kotak, which had estimated Wipro to guide for revenue decline of 1% to growth of 1% for the period. ...Less

Wipro guided for a revenue drop between 1% and 3% in the April-June quarter, owing to a negative demand o ...More

Wipro guided for a revenue drop between 1% and 3% in the April-June quarter, owing to a negative demand outlook. ...Less

TCS’s headcount stood at 613,974 for the quarter-ended December. It is to be noted that, in the second qu ...More

TCS’s headcount stood at 613,974 for the quarter-ended December. It is to be noted that, in the second quarter, the employee addition came in at 9,840 in July—September period— its lowest net new addition in the last nine quarters. ...Less

. This has prompted several new-age companies, from Unacademy to Meesho, to lay off employees as they loo ...More

. This has prompted several new-age companies, from Unacademy to Meesho, to lay off employees as they look to cut costs and get back to basics now that the Covid-fuelled funding party is well and truly over. ...Less

India's new-age financial services industry has faced constant regulatory scrutiny in recent years disrup ...More

India's new-age financial services industry has faced constant regulatory scrutiny in recent years disrupting businesses across the board. To streamline the workings, the country's central bank has asked the fintech industry to come up with a self-regulatory organisation. But that's not been easy to do. This and more in today’s ET Morning Dispatch. ...Less

The company's software and consulting businesses rose 6% and 8.2%, respectively, at constant currency in ...More

The company's software and consulting businesses rose 6% and 8.2%, respectively, at constant currency in the first quarter, in line with IBM's targets. Big Blue also reiterated its full-year free cash flow forecast of $10.5 billion. ...Less

For the full year, the net hiring number stood at 29,219, down 46% from the 54,396 employees hired by the ...More

For the full year, the net hiring number stood at 29,219, down 46% from the 54,396 employees hired by the Bengaluru-headquartered firm for the full year in FY22. ...Less

Attrition rate over the past 12 months has dropped to 17-18% across the sector, say experts. ...More

Attrition rate over the past 12 months has dropped to 17-18% across the sector, say experts. ...Less

Seven in 10 IT cos in India may increase their headcount in Q1 2023, says Randstad survey. ...More

Seven in 10 IT cos in India may increase their headcount in Q1 2023, says Randstad survey. ...Less

Hi Digbijay here in Bengaluru. Last month, I was in Mumbai and visited the offices of the newest ecommerc ...More

Hi Digbijay here in Bengaluru. Last month, I was in Mumbai and visited the offices of the newest ecommerce challenger in India –Tata Digital-- which runs the superapp Neu. If you’ve been reading our coverage of one of Tata’s most ambitious projects, you’ll know we’ve been on top of all the big developments, breaking the most important stories. ...Less

Earlier this week TikTok said it has more than 150 million monthly users (nearly half the population) in ...More

Earlier this week TikTok said it has more than 150 million monthly users (nearly half the population) in the US, up from 100 million just a year ago. However, the exponential growth of the short video platform comes at a time when it faces an existential crisis in the US as the Joe Biden administration seeks a ban or a potential sale of the platform to a local owner. ...Less

For a 1-year perspective, invest in largecaps such as the Nifty or a basket of stocks from the Nifty, whi ...More

For a 1-year perspective, invest in largecaps such as the Nifty or a basket of stocks from the Nifty, while midcaps and smallcaps are better suited for a 3-5 year view, according to Nilesh Shah, CEO at Envision Capital. He believes that stocks bought during IPOs could become profitable in five years' time. While echoes of the 2008 financial crisis are being heard, he says history will not repeat itself. Rather, he sees a 2013-type scenario with a possible extended period of consolidation. ...Less

It has been a week of major turmoil for the technology industry with the sudden collapse of Silicon Valle ...More

It has been a week of major turmoil for the technology industry with the sudden collapse of Silicon Valley Bank. But amid all the chaos of the last few days, the hype around generative AI continued. ...Less

According to analysts, IT services exporters have showed gross profit margin expansion despite slower top ...More

According to analysts, IT services exporters have showed gross profit margin expansion despite slower top line growth in the previous quarter, which is expected to continue. The weakness of the rupee against the dollar and slower attrition rates due to layoffs in global IT majors & Indian startups are the other tailwinds for the sector atthe fundamental level. ...Less