IT News
TCS pips RIL once again to become most valued firm
Source:Economic TimesTata Consultancy Services (TCS), the country's largest software exporter, became India's most valuable company by market capitalisation on Wednesday, pipping Reliance Industries for the second time in the past five months. Market capitalisation, derived by multiplying the share price with the total number of shares of a company, was 2.48 lakh crore for TCS at the end of day on Wednesday, 4,668 crore higher than RIL's market cap. TCS's market cap has risen 23,760 crore over the past three months, while RIL's market cap has eroded by 27,915 crore...
more'Indian economy strong, will continue to attract investments'
Source:Economic TimesBrushing aside the concerns over impact of the proposed changes tax laws, Commerce and Industry Minister Anand Sharma today said Indian economy is strong and exuded confidence that foreign investments will continue to flow into the country. "Investment and taxation are two separate issues", he said, when asked whether the introduction of General Anti Avoidance Rules (GAAR) will hurt foreign investments. "For FDI, we have a policy which is stable and progressive and there have been changes made in the recent past which have gone down well with investors", the Minister said...
moreNasscom to push industry's agenda with PMO
Source:Business LineAn inter-ministerial forum has roped in National Association of Software and Service Companies (Nasscom) to push IT industry's case with the Prime Minister's Office. The ministries involved are IT, Commerce and Finance, Mr V. K. Mathews, member of the Nasscom Executive Committee, told Business Line here. The forum intends to take up with the PMO policy aspects with respect to taxation, policy and governance issues, Mr Mathews said. He is also the executive chairman of the IBS group based here, which is a leading player in the global travel, transport and logistics sector...
moreTech Mahindra FY12 revenues rise 3% to $1.15 billion
Source:Economic TimesTelecom-focused IT company Tech Mahindra on Wednesday reported a 3% increase in its revenues for the year ended March 31, to $1.15 billion, thus beating street expectations which were predicting a dip in its revenues due to the flailing telecom sector globally. The company's board elevated Mahindra Satyam CEO CP Gurnani, as the new Managing Director of Tech Mahindra, which will be subject to government's approvals...
moreLunch with BS: Nandan Nilekani
Source:Business StandardFor Nandan Nilekani, his job must seem like a constant exercise in damage control. “The difference,” he tells Mihir S Sharma, “between life in the private sector and life here is that there nobody questions your motives. Everyone knows what you are out to do.” On the critics who suspect the Unique Identification (UID) of being a sneaky attack on entitlements he says: “Whether you choose to give rice, or choose to give cash, we are giving you plumbing. Once you get into speculative motives [for why the UID exists], you can go anywhere.” He definitely seems to feel scrutinised...
moreTCS increases its focus on non-linear growth
Source:Times of IndiaThe country's lead tech player,Tata Consultancy Services, has increased its investment focus on non-linear growth. It is pursuing three strategic initiatives to drive non-linear growth - software products (TCS Financial Solutions), platform-based BPO, and iON, IT-as-a-service solution for small and medium businesses, said its latest annual report. TCS Financial Solutions client base has grown by 39 new clients in FY12. For its platform-based BPO offering, it added several clients from segments like life insurance and pension policy, analytics and finance and accounts...
moreBig Data to create a new boom in job market
Source:Economic TimesThe 'Big Data' industry — the ability to access , analyze and use humungous volumes of data through specific technology — will require a whole new army of data workers globally. India itself will require a minimum of 1,00,000 data scientists in the next couple of years, in addition to scores of data managers and data analysts , to support the fast emerging Big Data space. According to a McKinsey study, the US alone would face a deficit of 1,92,000 data scientists against its requirement of 4,90,000 by 2018...
moreWipro founder Azim Premji's initiative: India Inc attempts to promote charity on philanthropy meet
Source:Economic TimesDozens of India's wealthiest individuals huddled together on Friday to discuss philanthropy in the first such gathering of its kind in the country. Without any overt pleas for charitable giving, the nearly 50 men and women who attended the event were given a glimpse of the crying need for extra help in areas that are vital to India's development. The event, a brainchild of Wipro founder and philanthropist Azim Premji, is a subtle, carefully-crafted attempt at catalysing charitable giving by rich Indians. The media was shut out so that the discussions could be frank...
moreThe Prime Minister needs to live up to his credentials; but don’t expect miracles
Source:Economic TimesWe need to reverse the climate of pessimism. Revive the animal spirits in the country's economy; there are problems on the tax front which need to be addressed. On the financial-sector side, we need to see how we can improve matters... We need to work to get the economy going again and restart the India growth story," Prime Minister Manmohan Singh is reported to have told officials in the finance ministry soon after taking charge of the finance portfolio. Alas! If only things were that simple. The fact is almost nothing is going right for the economy at the moment...
moreNo room for complacency on growth front
Source:Business LineThe International Monetary Fund, in its July update of the World Economic Outlook, has lowered India’s economic growth forecast for 2012 to 6.1 per cent. This is the latest in a series of affirmations that India is indeed slowing down. The forecast for 2013 has also been lowered to 6.5 per cent. Earlier, the World Bank, international credit rating agencies and various domestic agencies — both official and private — had indicated that India’s slowdown would continue...
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