Page 2 - It Sector

IT industry on the road to becoming $350 bn in revenue terms by 2026

The aspirational target of $350 billion by 2026 also means that the industry will have to maintain growth in the double-digit range of 11-14 per cent

IT company Hexaware Tech to add 10,000 more to headcount in 2022

To offset the high attrition rate and execute about USD 2-billion order pipeline, global private equity major Carlyle Group-controlled Hexaware Technologies is adding 10,000 more to its 25,000-strong headcount this year, a senior company official has said. Last October, the Carlyle Group offered a reported USD 3 billion to Baring Private Equity Asia for the city-based software firm founded by technology veteran Atul K Nishar in 1990. PTI was the first to report in late August 2021 that Carlyle, the Washington-based private equity, alternative asset management and financial services giant set to pip bulge bracket rivals such as Bain Capital, KKR & Co and the Paris-based outsourcer Teleperformance, was the winner with a USD 3-billion bid for the company. None of the three parties has yet officially announced the deal completion. Nishar, who was founder and chairman of Hexaware Technologies, had in 2013 sold majority stake to Baring PE Asia for Rs 1,687 crore, with an open offer for .

Hope builds on visible signs of the old normal; offices start opening up

Activity picks up in restaurants, shops

Cos can gain $357 bn in profits a year with people focus, ESG: Infosys arm

While digital adoption and ESG orientation individually drive profits, they are more effective together, says the Infosys Digital Radar 2022 report

Gujarat eyes 8-fold rise in exports to Rs 25k cr with new IT policy

Aimed at promoting new SMEs, along with a few big projects, the policy looks to grow the current exports of roughly Rs 3,100 cr to Rs 25,000 cr in next five years

Working with AWS to meet growing demand for online learning: upGrad

upGrad has moved the vast majority of its IT infrastructure to AWS, a move that has helped the higher education technology provider rapidly scale to meet the burgeoning demand for online education

Poised for growth

Margins will improve for the IT sector

War for talent heats up as attrition continues to surge at top-3 IT players

Companies are rushing to campuses in order to mitigate supply-demand imbalance

Beating high expectations critical for further gains in midcap IT stocks

While the overall growth outlook is positive, there are headwinds for margins and valuations are at premium to large-cap IT firms

Women are more employable in tech development jobs than men: Report

With the tech industry opening up more job opportunities in the wake of the ongoing pandemic, a report has shown that women are more employable in development jobs than men.

IT services, telecom, financials: Sectors analysts are betting on for 2022

With the withdrawal of easy and cheap money globally, fundamentals would come to fore, analysts suggest. Therefore, one needs to stay invested in the right quality of stocks, analysts suggest

CP Gurnani's plan for Tech Mahindra amid Covid-19 uncertainty

In an interview with Business Standard's Surajeet Das Gupta, Tech Mahindra's CEO and Managing Director CP Gurnani shared his company's plans for growth amid the ongoing uncertainty caused by Covid-19

IT services companies' index weighting reaches record high of 18.8%

Combined m-cap of IT firms on Nifty50 up 33.3% in 2021 YTD

Accenture results signal positive cues for Indian IT firms

Robust guidance backed by growth across segments and better pricing mean higher rupee earnings amidst a strong dollar

IT sector valuation premium over Sensex at highest level in over a decade

BSE IT Index trading at P/E multiple of 34.3x - nearly 29% higher than that of Sensex

Indian IT spending to rise 7% to reach $101.8 billion in 2022: Gartner

Indian CIOs are likely to increase spending on projects that drive innovation and modernise legacy systems, Hiring suitable workforce will also be a key priority, says research firm

IT, pharma segments may not provide hedge if rupee weakens

There are concerns over margin and growth, which may weigh on sentiment

IoT-enabled vending machines to accelerate growth of F&B industry: Experts

Internet of Things (IoT)-enabled and digitally connected vending machines and smart-stores in the food and beverage (F&B) industry are new-age retail distributors which will accelerate the growth of the sector, industry experts said on Thursday. Speaking at a webinar on 'Intelligent Retailing', they also noted that consumer behaviour is changing in the F&B industry and intelligent retail backed with data insights will be the future. ITC COO Foods - Chocolate, Coffee, Confectionery & New Category Development - Anuj Rustagi, said intelligent retailing helped by data enablers would drive the sector's growth. Automated retail machines such as vending machines will use the power of data and serve consumers as per their requirement, he noted. Deloitte India Partner Rajat Wahi said a lot of innovations are happening on this front for providing hot meals in places like offices and railways stations. Marico Executive Vice President - Supply Chain, Nitin Kathuria said the vending ...

Indian IT services sector to see 4.5 lakh gross employee addition in H2

Indian IT services sector is expected to see a gross employee addition of about 4.5 lakh in the second half of the fiscal ended March 2022, according to a report by market intelligence firm UnearthInsight. With higher attrition in the second half of around 17 to 19 per cent, the industry is expected to have a net employee addition of about 1.75 lakh in H2 FY22, the 'IT Industry Q2 Insights & FY22 Forecast' report said. "Our H2FY22 report unveils insightful findings, and it further brings out the fact that the IT industry's perceived 'War on Talent' is real and it's getting intense with attrition is a rising concern for the industry. It's crucial for the industry to focus on Employee Value Proposition (EVP) even more aggressively to keep attrition in check," UnearthInsight founder and CEO Gaurav Vasu said. Vasu added that one of the highlights of first half is the way top IT firms have delivered upskilling programmes in completely digital format and have developed robust ...

Indian IT Services to hire about 450,000 people in H2FY22: UnearthInsight

With higher attrition in H2 of 17-19 per cent, the industry is likely to have a net employee addition of about 175,000 in H2FY22, says study