
IT companies' revenue growth to drop 7-9% in FY24
Operating profitability will improve to around 23% in fiscal 2024 as IT service firms cut back on new hiring and rein in employee costs, says CRISIL.
Operating profitability will improve to around 23% in fiscal 2024 as IT service firms cut back on new hiring and rein in employee costs, says CRISIL.
Mohit Joshi's departure marks the exit of the only President left at Infosys after Ravikumar last year.
The IT stock has risen 17% in the last five sessions after it signed a deal to acquire 100% stake in Quant Systems Inc. in an all-cash deal of $65 million.
In a biggest-ever acquisition, Sonata Software has acquired Texas-based enterprise data analytics and cloud modernisation company in an all-cash deal of $65 million.
ICRA expects lower hiring by the IT service companies in the near term because of excess capacity added in FY22 and expected moderation in demand.
Canada-based aviation firm Bombardier has selected TCS to accelerate its digital transformation and drive innovation.
Post December quarter results, the majority of experts remained bullish on Wipro shares and recommended ‘Buy’ ratings.
Indian IT firms generate around 60-65% of its revenues from the US market and 20-25% from the European market.
“Budget meetings start happening in the month of December. I expect a degree of conservatism in budgeting, people will be told to conserve budgets," says Tyagarajan.
LTIMindtree has been selected as a strategic transformation partner by Yorkshire Water to modernise its operations.