IT News
Information Technology is strongest sector of Indian economy: Kapil Sibal
Source:Economic TimesTelecom Minister Kapil Sibal has said information technology is the strongest sector of the nation's economy. Addressing a conference here on Thursday, Sibal said: "The IT sector is perhaps the strongest sector in our economy. And the IT sector can deliver these services at low cost and very high levels of efficiency. So when I talk about 860 million phones, I say it is just the beginning. This is just the beginning of the telecom revolution that is going to take place in India over the next 10-20 years...
moreWipro revenues jump 18% in Q2; Net profit rises by 1.24% to Rs 1,301 crore
Source:Economic TimesWipro sprang a pleasant surprise with strong earnings for the second quarter, giving indication that chief executive T K Kurien is beginning to turn things around at the Bangalore-based company after his predecessors were eased out in January. Revenue for the July-September quarter increased by 18% and profit stopped forecasts, but margins came under pressure because of higher wage costs. Wipro forecast revenue growth of 2-4% for the December quarter to between $1.5 billion and $1.53 billion...
moreQ&A: S Ramadorai, Vice-Chairman, TCS
Source:Business StandardS Ramadorai is now a vice-chairman of Tata Consultancy Services (TCS) after being its MD and CEO for a decade. He is also an advisor to the Prime Minister on the National Skill Development Council (NSDC). In an interview with Bibhu Ranjan Mishra, he talks on the global economic cycle, the importance of technology and skill development, among other issues. Edited excerpts: What is there beyond TCS? Beyond, it is more. TCS is not the organisation which is the beginning and the end. Organisations need to be boundary-less in the future, prompting people to collaborate more...
moreCiti maintains India growth projection at 7.6% for 2011-12
Source:Economic TimesMaintaining its growth forecast for the Indian economy at 7.6 per cent for 2011-12, financial services major Citigroup today said higher farm output is expected to offset sluggishness in the industrial sector. "While global developments have taken a turn for the worse, we are maintaining our FY-12 GDP estimate at 7.6 per cent as the favourable monsoon and trends in crop sowing could result in higher agri growth. This would help offset downward revisions to industry and services growth," Citigroup Global Markets said in its 'Asia Macro and Strategy Outlook'. The 7...
moreState IT industry team visits German cities
Source:HinduThe information technology (IT) industry in Kerala has reached out to the German market as part of a strategy unveiled by the Group of Technology Companies (GTech) to help small and medium enterprises identify new business opportunities. The initiative is part of a market connect strategy adopted by GTech, in partnership with Technopark, to establish global linkages for the IT industry in Kerala by working with international stakeholders, governments, customers, and industry associations to build business partnerships...
moreInfosys named top Indian company for investor relations
Source:Economic TimesTechnology giant Infosys has been ranked as the country's best company for investor-relations practices such as corporate governance, financial disclosure and online dissemination of shareholder-related information. In the first-ever such rankings for India, compiled by Investor Relations Global Rankings (IRGR), Infosys has been ranked on the top in all the four categories -- corporate governance practices, financial disclosure procedures, IR website and online annual report...
moreFrom Mumbai to the Midwest
Source:EconomistDRIVE up the leafy Leadership Trail in Milford, Ohio and you reach what appears from the outside to be a luxury ski lodge. Inside, large windows with forest views are a constant reminder of the surrounding American heartland. This is Tata Consultancy Services’ new American facility, a stark contrast to TCS’s colonial-era headquarters overlooking sweltering cricket pitches in Mumbai. Bought in 2008, the Ohio facility is a symbol of TCS’s efforts to polish its brand and move to higher-margin services...
moreTCS bags $2.2 bn deal from UK based pension firm Friends Life
Source:Economic TimesTata Consultancy Services won its second-biggest outsourcing contract worth $2.2 billion on Wednesday from UKbased pension firm Friends Life, providing positive forecast for India's technology sector complaining of shrinking contracts and delays in decision making by top customers. The contract, TCS' secondbiggest deal after the company won $2.8 billion order in 2008 from Citigroup, is based on a model wherein the company will be paid for each insurance transaction and will add another 3.2 million policies to the existing Diligenta platform owned by its UK subsidiary...
morevinod-khosla-you-have-to-be-unreasonable-to-make-large-shifts
Source:ForbesMany of the entrepreneurs at the Nasscom Product Forum in Bangalore on Wednesday morning had waited for years to listen to Vinod Khosla: About his famous “Fail Strategy”; what keeps him ticking even 30 years after he founded Sun Microsystems; why he’d rather try and fail than fail to not try at all. And it was worth the wait. Khosla, founder of Khosla Ventures, rarely speaks at conferences. In the whole of last decade, he said, one of the few conferences he chose to be a speaker in Silicon Valley was called FailCon...
moreCapgemini confirms strong IT demand
Source:Financial TimesCapgemini, Europe’s largest IT services company, cheered its investors on Tuesday when it reported strong third-quarter sales growth and reiterated ambitious guidance for the full year. Investors had been growing concerned about the outlook for IT services companies amid economic uncertainty, and several of Capgemini’s rivals, such as Logica of the UK and TCS of India, have recently had poor results. However, Paul Hermelin, chief executive, said he had seen no slowdown in spending yet. “It is not like three years ago, after Lehmans fell, when company budgets were instantly cut...
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