Harichandan's Feed
Jul 26, 2013

India’s Wipro signals demand pick-up after profit rise

BANGALORE, July 26 (Reuters) – Wipro, India’s
third-largest software services exporter, sounded upbeat about
demand for its outsourcing services, after posting an 11 percent
rise in quarterly net profit helped by an increase in large
contracts.

The company expects revenues from IT services business for
the current quarter that ends Sept. 30 will range between $1.62
billion and $1.65 billion, a sequential increase of 2 percent to
3.9 percent.

Jul 18, 2013

Tata Consultancy Services profit rises on U.S. demand

BANGALORE/MUMBAI (Reuters) – Tata Consultancy Services (TCS.NS: Quote, Profile, Research), India’s largest software services exporter, posted a 17 percent rise in quarterly profit and maintained an upbeat outlook, fuelled by demand from the United States.

TCS’s results, driven by its highest sales volume growth in seven quarters, reinforce expectations that Indian IT vendors will be helped by the strongest demand from U.S. businesses since the end of the 2008-9 financial crisis.

Jul 18, 2013

India’s Tata Consultancy Services profit rises on US demand

BANGALORE/MUMBAI, July 18 (Reuters) – Tata Consultancy
Services, India’s largest software services exporter,
posted a 17 percent rise in quarterly profit and maintained an
upbeat outlook, fuelled by demand from the United States.

TCS’s results, driven by its highest sales volume growth in
seven quarters, reinforce expectations that Indian IT vendors
will be helped by the strongest demand from U.S. businesses
since the end of the 2008-9 financial crisis.

Jul 12, 2013

Infosys revives pursuit of outsourcing deals, retains revenue target

BANGALORE (Reuters) – Infosys Ltd hopes a return to aggressively chasing deals, even those with low margins, will help it regain lost market share but cut-throat competition and a possible change in U.S. visa rules may derail its plans.

A focus on proprietary software at the expense of IT outsourcing contracts prompted India’s second largest IT exporter to post two years of disappointing results and left it struggling to compete with local rivals Tata Consultancy Services Ltd and HCL Technologies Ltd.

Jul 12, 2013

Infosys retains 2013/14 revenue outlook, shares surge

BANGALORE, July 12 (Reuters) – Infosys defied some
analysts’ expectations and retained its revenue growth forecast
for the full year, a sign that India’s second largest software
services exporter was confident it could regain lost market
share.

Most analysts had expected Infosys to maintain its forecast
for 6-10 percent revenue growth for the current 2013/14
financial year, but Morgan Stanley raised doubts last week,
saying the company would cut estimates to 4-6 percent.

Jul 10, 2013

Renewed U.S. demand to lift Infosys, IT sector outlook

BANGALORE (Reuters) – The strongest growth outlook for U.S. demand for information and communication technology since the 2008 financial crisis is likely to help Narayana Murthy revive Infosys Ltd (INFY.NS: Quote, Profile, Research), the Indian IT giant he founded, but the updraft will also boost its faster-growing rivals.

India’s second largest computer services exporter, once seen as a bellwether for India’s $108 billion IT industry, derives 62 percent of revenues from North America, a larger share than competitors Tata Consultancy Services Ltd (TCS.NS: Quote, Profile, Research), HCL Technologies Ltd (HCLT.NS: Quote, Profile, Research) and Wipro Ltd (WIPR.NS: Quote, Profile, Research).

Jul 10, 2013

Renewed U.S. demand to lift Infosys, India IT sector outlook

BANGALORE, July 10 (Reuters) – The strongest growth outlook
for U.S. demand for information and communication technology
since the 2008 financial crisis is likely to help Narayana
Murthy revive Infosys Ltd, the Indian IT giant he
founded, but the updraft will also boost its faster-growing
rivals.

India’s second largest computer services exporter, once seen
as a bellwether for India’s $108 billion IT industry, derives 62
percent of revenues from North America, a larger share than
competitors Tata Consultancy Services Ltd, HCL
Technologies Ltd and Wipro Ltd.

Jun 4, 2013

To revive Infosys, Murthy must revamp sales, culture

BANGALORE, June 4 (Reuters) – Narayana Murthy’s success in
turning around Indian IT services firm Infosys hinges
on his ability to revive its sales efforts and shake up the
conservative culture he helped create.

Eleven years after Murthy stepped down as chief executive at
India’s second largest computer services exporter, Infosys
unexpectedly brought back the 66-year-old as executive chairman
to reverse falling market share and end two years of
disappointing results.

Jun 1, 2013

Under pressure Infosys recalls Narayana Murthy as chairman

MUMBAI/BANGALORE (Reuters) – India’s No. 2 IT services firm Infosys Ltd, grappling with disappointing results and loss of market share, has recalled founder and former chairman N.R. Narayana Murthy to act as executive chairman for five years.

He replaces current chairman K.V. Kamath, who will become lead independent director. Current co-chairman S. Gopalakrishnan will become executive vice chairman, while CEO S.D. Shibulal remains in his position, Infosys said.

May 21, 2013

iGate sacks Murthy over undisclosed relationship

MUMBAI/BANGALORE (Reuters) – IT outsourcing company iGate Corp(IGTE.O: Quote, Profile, Research) said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry’s best-known executives for sexual harassment.

Murthy had led several initiatives to improve the performance of the Fremont, California-based company, including charging clients for business results instead of man hours, the billing method more commonly used by IT outsourcing firms.

    • About Harichandan

      "Harichandan Arakali is a technology reporter with Reuters News, covering the IT outsourcing industry and the companies that have come to define it the most. When not chasing a story that might give him the next big-picture fix on outsourcing, Hari loves long walks, taking in the vanishing acts of the trees of his adopted home, Bangalore, while listening to Rashid Khan or KT Tunstall on his BlackBerry, depending on his mood."
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