IT Sector

  • IT, pharma sectors likely to be backbone of Telangana 21-02-2014 02:44 PM

    Post bifurcation of Andhra Pradesh, the information technology and pharmaceuticals manufacturing sectors may become backbone of Telangana economy, leaving power production, ports and oil and natural gas to play a pivotal role in driving prosperity in the residuary state. With nearly 1,000 km-long coast line, the coastal Andhra has major...
  • K'taka: Siddaramaiah's socialist ideologies disappoint corporate world 10-08-2013 10:10 AM

    Bangalore: Karnataka's industry groups are unhappy with the new Chief Minster Siddaramaiah as they feel that his socialist ideologies were getting in the way of corporate development. Nearly three-month after taking over, he isn't exactly charming to the corporate world. He has not cleared a single major project so far...
  • Renewed US demand to lift Infosys, IT sector outlook 10-07-2013 07:19 PM

    Bangalore: The strongest growth outlook for US demand for information and communication technology since the 2008 financial crisis is likely to help Narayana Murthy revive Infosys Ltd, the Indian IT giant he founded, but the updraft will also boost its faster-growing rivals. India's second largest computer services exporter, once seen...
  • To revive Infosys, Murthy must revamp sales, culture 04-06-2013 10:37 PM

    Bangalore: Narayana Murthy's success in turning around Indian IT services firm Infosys hinges on his ability to revive its sales efforts and shake up the conservative culture he helped create. Eleven years after Murthy stepped down as chief executive at India's second largest computer services exporter, Infosys unexpectedly brought back...
  • Indian-origin Cognizant CEO gets over $ 10 mn pay package 12-05-2013 11:55 AM

    New Delhi: Offshore-centric IT services major Cognizant has paid its India-origin CEO Francisco D'Souza a pay package of USD 10.61 million in cash, stocks and other benefits. The US-listed company, which has a large portion of its 1.63 lakh workforce in India, paid Frank a base salary of USD 590,000,...
  • K'aka: Parties woo IT professionals; will they come out and vote? 29-04-2013 09:18 AM

    Bangalore: With less than a week to go for the Assembly elections campaigning is in full swing in Karnataka. The generals have now landed on the battlefield. After Gujarat Chief Minister Narendra Modi, now Prime Minister Manmohan Singh will start his tour of the state. He will first address a...
  • Wipro shares slump on first trading session after split 09-04-2013 10:00 AM

    Mumbai: Shares in Wipro Ltd, India's No.3 software services provider, fell as much as 11.3 per cent on Tuesday, which marked the first trading session as a standalone IT stock after splitting its other businesses into a separate unit. Wipro's split-off announced in November 2012 legally took effect on March...
  • India IT outsourcing growth seen at lower end of forecast 12-11-2012 03:04 PM

    Mumbai: India's $100 billion software and services outsourcing sector is likely to meet the lower end of the growth outlook for this fiscal year, an industry lobby group said as customers tread cautiously on technology spending due to global economic uncertainty. The National Association of Software and Services Companies (Nasscom)...
  • Nilekani in favour of using IT to tackle corruption 01-11-2012 09:48 PM

    New Delhi: UIDAI Chairman Nandan Nilekani on Thursday said a strategy to tackle corruption at all levels can be effectively and systematically done by use of information technology. "Systemic changes by re-engineering process that interface with the common man through the use of innovative technology solutions will go a long...
  • IT sectors to see slower spending growth in 2012 05-01-2012 03:35 PM

    Bangalore: Worldwide IT spending is forecast to total $3.8 trillion in 2012, a 3.7 per cent increase from the previous calendar year, according to the latest outlook by technology researcher Gartner. In 2011, worldwide IT spending totalled $3.7 trillion, up 6.9 per cent from 2010 levels. Gartner has revised downward...
  • 2012 will be a challenging year for IT firms: TCS 15-12-2011 09:43 PM

    Mumbai: The depreciation in rupee's value is likely to benefit software exporters, but the global macro economic situation will pose a challenge for the industry next year, a top official of IT giant TCS said on Thursday. "This year has gone very well and better than what we expected. Next...
  • Mamata invites IT giants to invest in Bengal 08-12-2011 03:58 PM

    Kolkata: West Bengal Chief Minister Mamata Banerjee on Thursday announced full support for development of the IT and technology sector in the state. "It's an open offer, you just tell me, I will do. This government is fully committed," she said at Infocom 2011. Pointing out that this sector (IT...
  • Job growth to slow down in non-IT sectors: report 25-09-2011 05:47 PM

    New Delhi: Growing economic uncertainty may slow down hiring activities in a host of sectors, but the IT space is likely to remain unaffected and NRIs returning home due to the gloom in Western markets might emerge as an attractive talent pool, experts believe. Companies in the telecom, financial services,...
  • Sensex down 155 points in opening trade 04-05-2011 09:47 AM

    Mumbai: Continuing its losing streak for the 8th straight session, the Bombay Stock Exchange benchmark Sensex fell by 155 points in opening trade on Wednesday on sustained selling by foreign funds and retail investors after the RBI raised key policy rates by 50 basis points on Tuesday. The 30-share barometer,...
  • Nothing cheering for IT sector: Budget 2011 28-02-2011 03:41 PM

    New Delhi: The 2011-12 Budget has failed to bring cheer to the Indian IT sector as Finance Minister Pranab Mukherjee did not make any major announcements to boost the segment. IT companies were batting for reduced tax rates and continuation of sops under the STPI to help the industry, which...
  • I-T Dept slaps Rs 450cr demand on Infosys 25-02-2011 03:15 PM

    The Income Tax Department has slapped a tax demand of over Rs 450 crore on software giant Infosys Technologies for wrongfully claiming tax exemption on onshore services by declaring them as software exports, Parliament was informed on Friday. Onshore software development is the practice wherein Indian companies send their software...
  • Budget 2011: IT industry's wish-list 24-02-2011 12:38 PM

    Some things don't change like the IT industry's budget wish list. Much like the last 5 years, this year's list also leads with an extension of the tax benefits under the software technology parks of India scheme. The Indian IT industry has submitted a long list of demands to the...
  • IT firms hope for STPI extension in budget 23-02-2011 05:15 PM

    Indian information technology firms are looking for increased spending on education, e-governance and defence sectors, and an extension by at least one year of tax benefits under the Software Technology Parks of India (STPI) scheme, but many think it is unlikely. STPI was a society set up by the Ministry...
  • Wipro turns ten in the middle east 22-02-2011 12:30 PM

    Wipro, the global IT services major and a leading provider of IT and business transformation services, has achieved a milestone by turning ten in the Middle East. Wipro, which commenced operations in the UAE and Saudi Arabia in 2001, today has a presence spread across Sharjah, Abu Dhabi, Kuwait, Qatar,...
  • Infosys likely to defer re-structuring plans 21-02-2011 02:39 PM

    Indian information technology major Infosys Technologies is likely to defer its re-structuring plans, reports CNBC-TV18 quoting sources. Infosys was to announce a new structure on February 23 as the present structure was based on verticals and horizontals. Infosys said the company has seen a pick up in client demand. The...
  • R Systems International declares final dividend 21-02-2011 12:54 PM

    Mumbai: R Systems International Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 20, 2011, inter alia, has transacted the following business: 1. Recommended a final dividend of Rs 2.40 per equity share (being 24 per cent on the par value...