Page 7 - It Companies
Infosys buys US product design firm Kaleidoscope Innovation for $42 million
Infosys announced it has acquired product design firm Kaleidoscope Innovation for $42 mn to expand its engineering service offerings in medical devices, consumer and industrial markets across America
 "Infosys buys US product design firm Kaleidoscope Innovation for $42 million")
Operating profits of manufacturing companies declined in Q4FY20: RBI
The operating profits of services companies (IT and non-IT) decelerated due to moderation in sales growth during the last quarter of 2019-20, it said
 "Operating profits of manufacturing companies declined in Q4FY20: RBI")
Persistent Systems' O'Connor steps down as CEO, cites personal reasons
O'Connor worked as a senior executive at IBM's internet of things (IOT) division before joining Persistent Systems.
 "Persistent Systems' O'Connor steps down as CEO, cites personal reasons")
Top headlines: Apple plans more production in India, PSB stake sale & more
From Apple planning to move 10% production to India, RBI advising the government to cut stake in PSBs to Videocon staring at liquidation, here are the top news of the day
 "Top headlines: Apple plans more production in India, PSB stake sale & more")
US hikes fees for non-immigrant visas; move to impact Indian IT firms
The filing fees for H-1B high-skill visas has been hiked by 21 per cent to $555, while that for L (intra-company transfer) visas has been increased by 75 per cent to $850
 "US hikes fees for non-immigrant visas; move to impact Indian IT firms")
Digitisation trend makes IT a sound long-term bet, but stay cautious
After the recent rally, direct investors need to be cautious about valuations
 "Digitisation trend makes IT a sound long-term bet, but stay cautious")
Covid-19 impact: IT bigwigs likely to speed up client staff absorption
Experts are of the opinion that this trend is likely to accelerate in the coming quarters owing to vendor consolidation.
 "Covid-19 impact: IT bigwigs likely to speed up client staff absorption")
Indian SaaS industry revenue can grow 6-fold to $13-15 bn by 2025: Report
India's software as a service (SaaS) revenue has reached $3.5 billion as of financial year 2020 with compounded annual growth rate of 30 per cent and 75 per cent of it came from global sales.
 "Indian SaaS industry revenue can grow 6-fold to $13-15 bn by 2025: Report")
Autodesk acquires construction software firm founded by Indian techies
The acquisition will empower general contractors, subcontractors and owners to gain more value from Autodesk Construction Cloud
 "Autodesk acquires construction software firm founded by Indian techies")
Top Headlines: PM Modi woos US investors, relief for Voda Idea and more
Here are the top business headlines on Thursday morning
 "Top Headlines: PM Modi woos US investors, relief for Voda Idea and more")
Govt extends work from home norms for IT, BPO companies till December 31
Currently, around 85 per cent of the IT workforce is working from home and only those performing critical functions are going to offices
 "Govt extends work from home norms for IT, BPO companies till December 31")
FM emphasises on consensus-based solution for digital taxation at G-20 meet
The digital taxation assumed significance since the US launched an investigation against various countries including India for levying digital tax on its companies
 "FM emphasises on consensus-based solution for digital taxation at G-20 meet")
Infosys ripe for re-rating after strong performance in June quarter
While the company's revenue grew by 8.5 per cent year-on-year to Rs 23,665 crore, its profit before tax (pre-tax profit) was up by 12.1 per cent year-on-year
 "Infosys ripe for re-rating after strong performance in June quarter")
Top Headlines: Voda Idea defaults on payments, IT firms' hiring woes & more
From IT companies facing problems in hiring fresh candidates, Voda defaulting on June payments, TCS reporting fall in net profits, here are the top headlines on Friday morning
 "Top Headlines: Voda Idea defaults on payments, IT firms' hiring woes & more")
CMD Ramkumar Ramamoorthy puts in papers after a 23-year stint at Cognizant
Pradeep Shilige, Head of Global Delivery also resigned from the company. Accenture veteran Andy Stafford is replacing Shilige, said sources
 "CMD Ramkumar Ramamoorthy puts in papers after a 23-year stint at Cognizant")
Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis
Performance review likely to see some retrenchments
 "Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis")
State govts, firms harnessing Cloud to fight coronavirus in India: AWS
The COVID-19 onslaught has accelerated the pace of IT modernisation and digital transformation via Cloud-driven solutions in the vast public sector in India, says Amazon Web Services
 "State govts, firms harnessing Cloud to fight coronavirus in India: AWS")
IT firms tap freelancers to optimise staff costs amid Covid-19 crisis
Replacing part of contractual workforce with programmers, developers registered on online platforms such as GitHub, Topcoder
 "IT firms tap freelancers to optimise staff costs amid Covid-19 crisis")
Bench staff at IT firms rising as Covid-19 causes project delays
In the past three months, there has been at least one percentage increase in staffers on the bench
 "Bench staff at IT firms rising as Covid-19 causes project delays")
Growth, margin uncertainty likely to impair recovery in IT stocks
Scaling up of new deals and lowering costs are imperative for the up to 33 per cent gains in share prices to sustain
 "Growth, margin uncertainty likely to impair recovery in IT stocks")
