Blackstone to acquire majority stake in IT firm R Systems; stock zooms 20%
Blackstone has offered to buy a 52% stake in R Systems International for $359 million (₹2,904 crore)
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Mindtree-L&T Infotech merger completed; becomes 5th largest IT company by m-cap
As per the agreement, the merger will be a share swap deal at a ratio of 73 shares of LTI for every 100 shares of Mindtree.
Service sector output grows at slowest rate in six months
The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 54.3 in September from 57.2 in August.
TCS, Infosys, Wipro hit 52-week low on rate hike concerns
The IT heavyweights have declined up to 45% in the calendar year 2022 amid concerns about earnings in the backdrop of a muted demand environment and higher interest rates.
India’s software services exports rise to 89% in FY22: RBI
Private limited companies accounted for 60% of software exports; U.S., Canada top destinations at 55.5%
Wipro share up 2% on securing deal from U.K. govt treasury
The U.K. government treasury has selected Wipro for service integration and management; the deal underscores the IT major's increased focus on the U.K. public sector.
HCL Tech share hits 52-week low post Q1; should you buy, hold or sell?
Reacting to Q1 results, HCL Technologies share price declined as much as 2.46% to touch a 52-week low of ₹905.2 on the BSE.
TCS share trades flat ahead of Q1 result; here’s what to expect
TCS is expected to register 3% QoQ growth in constant currency in Q1 FY23, while EBIT margins are expected to decline 110 bps quarterly to 23.9%.
Birlasoft rise 2% on share buyback plan; down 37% this year
Birlasoft to buyback up to 78 lakh equity shares with a face value of ₹2 each at a price of ₹500 apiece, amounting to ₹390 crore.
Infosys to invest $10 mn in U.S.-based VC fund; share rises 1%
The House Fund III is a pre-seed and early-stage venture capital fund based out of California, investing in startups focused on artificial intelligence.
