India’s second biggest software services company Infosys Technologies Ltd on Thursday said its attrition rate for the October-December quarter has shot up on an annualized basis, but that it had added 5,311 employees to take its total headcount to 127,779.
India’s second biggest software services company Infosys Technologies Ltd reported a 14 percent rise in its third-quarter net profit missing analysts expectations, sending its shares down by more than 4 percent.
Infosys Technologies' weaker-than-expected results sparked concerns over growth rates of India's showpiece outsourcing sector as the company flagged a sluggish global economic recovery and currency volatility.
Export-driven software services companies are set to report robust growth in quarterly earnings and a firm outlook, driven by an expected increase in clients' technology budgets.
Nasdaq-listed iGate, owned by former marketing head of Infosys Phaneesh Murthy, on Monday said it has bought nearly 63 percent stake in India’s sixth biggest software exporter Patni Computer Systems for $1.22 billion in shares.
Technology research firm Gartner projected a 5.1 percent rise in global spending on technology in 2011, up from its prior estimate of a 3.5 percent rise, helped by the dollar’s recent weakness.
S&P Equity Research predicts slower, but healthier growth in the technology sector in 2011, including notable developments regarding new products, international activity, and M&A deals.
The Indian information technology industry is cautiously optimistic for 2011 after a tumultuous 2010 due to the continued economic
uncertainty in Europe and the US.
Nasdaq-listed iGate, owned by former marketing head of Infosys Phaneesh Murthy, agreed to buy Patni Computer Systems for $1 billion in shares.
India’s top three software services companies Tata Consultancy Services (TCS), Infosys Technologies Ltd and Wipro Ltd are all set to award their employees promotions and reward them with bigger hikes and perks come 2011 to retain best talent amidst competition from their rivals.
National Association of Software and Service Companies (Nasscom) expects India’s IT-BPO industry to reach $70 billion mark by the end of the current fiscal following rise in demand for software technology products.
In 6 months Infosys Technologies will begin construction of its first facility in West Bengal at New Town Rajarhat.
Infosys is all set to enter West Bengal. The company said it has been allotted 50 acres of land by the government to set up an IT campus at Rajarhat.
The US guest workers programs design needs an immediate and substantial in the wake of high unemployment in the nation.
China's outsourcing industry growth is gradually reducing the gap with the leader India, according to a study released on Friday.
Indian equity markets are trading lower by 29.17 points or 0.14 percent on Thursday with consumer durables, metal, healthcare and auto sectoral indices are in the gaining side and telecom, IT and realty sectoral indices are in the negative side.
In the current economic malaise of high pervasive unemployment and growing uneasiness over immigration, the H-1B visa program (among others) has come under tremendous criticism.
Big brother China has beaten India for the first time in the number of students to US management schools.
Infosys has voiced concern over Ohio's move to ban IT outsourcing to offshore locations such as India.
Infosys Technologies edged up its forecast on a revival in outsourcing demand from its mainstay financial clients, but its shares fell as markets worried a weak European economy could curb orders.
Infosys Technologies, the country's No.2 outsourcer, raised its annual sales forecast as big financial services clients boost orders in an improving global economy, pointing to an industry recovery.
When Infosys Technologies, India's second-largest IT firm, hired paramilitary troops to protect its sprawling headquarters in Bangalore, some observers might have thought they had gone overboard.
