IT firms

IT majors in India are reacting strongly, including taking legal route in some cases, to stop rivals from poaching their top talent at a time when there is pressure on growth amid a slowdown in global client spends.Plagued by a slew of senior-level management exodus, Wipro has filed lawsuits against at least two of them, including its former chief financial officer (CFO) Jatin Dalal who joined global rival Cognizant on December 1, for allegedly violating employment contracts and other clauses.Elevate Your Tech Prowess…

Indian internet firms have given internet body IAMAI a thumbs-down, alleging that it has favoured Big Tech companies on multiple issues. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ Myntra launches fashion portal FWD to tap GenZ shoppers■ India’s plan at UN cybercrime panel seeks right to ask data from nations■ Kunal Shah’s NBFC Newtap in talks to raise $50­-70 million Indian startups demand change at tech industry body IAMAI, accuse it of favouring Big Tech Contending that the Internet and…

Tata Consultancy Services (TCS), the country’s top IT exporter, said at its FY23 earnings press conference that it has seen a steep rise in interest among clients in generative AI. “In our interactions with clients over the last (March) quarter, the conversation starts and stops with ChatGPT. Everyone is talking about what the tool can do, and for once, it is very clear that innovation is surpassing productivity. This is panning out as a trend across most of our $10 billion deal…

Tata Consultancy Services (TCS) and Infosys, the top two IT services firms, are slated to report March quarter earnings this week. This would be followed by HCLTech, Wipro, Tech Mahindra and others during this month. The March quarter performance could also set the tone for FY24, in which experts expect deferred deals for the industry leading to slower revenue realization and slowdown in new deal bookings. Omkar Tanksale, equity research analyst at Axis Securities, said the…

India’s top IT service providers Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro will face margin pressure this year in the absence of significant pricing improvement, analysts said, despite lower attrition rates and employee costs going forward. These software exporters have reported sequential margin growth in the third quarter, with upbeat commentary on near-term margin performance. There is headroom to improve utilisation and automation to increase the effective price of delivery or realisation, they have…

NEW DELHI : India’s…

NEW DELHI :…