Page 9 - It Sector

Financial sector is in the middle of a perfect storm: Pankaj Murarka

"September quarter earnings will be somewhat a mixed bag, as the pandemic has had varying impact on companies across sectors," says Murarka.

E-commerce, IT, telecom and pharma buck lockdown trend, stay resilient

Confined indoors, people veered towards over-the-top (OTT) platforms and ordering everything online

MAIT appoints Nitin Kunkolienker as president, appoints 15 new members

The Manufacturers' Association of Information Technology (MAIT) on Thursday said Nitin Kunkolienker, director (member on board) of Synegra EMS Ltd, has been named as the body's president for 2020-21.

Happiest Minds' stock doubles in stellar debut, closes 123% above IPO price

This was the best day-one performance for an IPO since IRCTC in October last year, when the shares of the state-owned company gained 127 per cent

Hexware delisting hangs in balance with 25 mn more shares needed

About 58 mn shares tendered so far, and just a day left to achieve mandatory 90% acquisition target

HCL Tech surprises street with strong revenue outlook, robust deal book

Demand to improve as IT spending is expected to increase across sectors

IT services to remain significant to India's job environment: TCS CEO

He added that this is on account of the demand for talent and services, which is "only going to explode given the role that technology is playing today and in future"

Happiest Minds Technologies' IPO a good chance to ride digital wave

Sturdy profitable growth potential led by 97% digital revenue share justifies valuation

Telecom, automobile companies lead earning downgrades, shows data

The financial sector has seen earnings downgrade of nearly 30 per cent amid uncertainty over NPAs build-up

Traders' body urges govt to probe Chinese investments in Indian startups

In a letter to Commerce and Industry Minister Piyush Goyal, CAIT shared a list of 141 prominent Indian startups claiming they have significant Chinese investments

Re-rating potential in Tech Mahindra as growth outlook improves

Rising focus on network upgradation and spending on 5G equipment by telecom industry augurs well

Companies' total expenditure plummets 24% in three months to June

Some of this may have to do with pruning of some costs that they would have otherwise incurred, had business been normal; analysis looked at 402 firms that have declared June results

Make India global powerhouse for software products: IT minister to industry

Ravi Shankar Prasad exhorted the IT industry to leverage existing policies to position the country as a global powerhouse for software products by building innovative Made-in-India offerings

Birlasoft leaps 18%, hits 52-week high as it inks pact with Microsoft

The Strategic Cloud Alliance with Microsoft will further strengthen Biralsoft's digital offerings and will allow them to complement their industry expertise, the company said in a statement

Rothschild bullish on India, expects to close more deals in H22020

Domestic deal activity managed to remain in the green during the first half, thanks to the unprecedented stake sale by Reliance Industries in Jio Platforms, between April and June, worth nearly $15 bn

Digitisation trend makes IT a sound long-term bet, but stay cautious

After the recent rally, direct investors need to be cautious about valuations

IT sector may have weathered the worst

If industry advisories are true, that's a useful insight, given the width of US-centric exposure

India must become talent hub post-Covid to draw global investments: Nasscom

IT body chief says it is launching a Rs 436-crore reskilling project on PPP basis to help build digital fluencies in emerging technologies such as AI and cybersecurity

FPIs hike stake in TCS in June 2020 quarter; cut holding in HCL Tech, Wipro

In L&T Infotech and L&T Technology Services, their stake touched an all-time high level.

Embassy REIT could see downsides as IT sector scales down presence

Partial stake sale by sponsor Blackstone has hit sentiment