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.
it services
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December 2022
Infosys loss is TechM's gain
Mohit Joshi's departure marks the exit of the only President left at Infosys after Ravikumar last year.
Sonata Software shares hit all-time high; surge 40% in 2023
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.
Sonata Software shares jump 7% on acquiring U.S.-based Quant Systems
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.
IT industry growth likely to slow down: ICRA
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.
TCS shares gain amid slew of positive developments
Canada-based aviation firm Bombardier has selected TCS to accelerate its digital transformation and drive innovation.
Is Wipro a Buy after Q3 results?
Post December quarter results, the majority of experts remained bullish on Wipro shares and recommended ‘Buy’ ratings.
Global macro headwinds may moderate growth for Indian IT firms: Report
Indian IT firms generate around 60-65% of its revenues from the US market and 20-25% from the European market.
Clients reshuffling budgets in ruthless prioritisation: Genpact CEO
“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 secures order from UK-based water utility firm; stock down 1%
LTIMindtree has been selected as a strategic transformation partner by Yorkshire Water to modernise its operations.
