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May 11, 2014

Leaving the dream: Infosys battles worker exodus

MUMBAI (Reuters) – Infosys Ltd, once a bellwether for India’s $100 billion-plus IT outsourcing industry, is losing its cachet as the employer of choice for a generation of young IT workers, with staff leaving at an unprecedented pace as the Bangalore-based company struggles to regain ground lost to rivals.

Current and former Infosys staff interviewed by Reuters say morale has been dented by a series of senior management exits and worries about career prospects as the company’s revenue and pay increases grow at a slower rate than at competitors such as Tata Consultancy Services Ltd (TCS).

May 10, 2014

Reliance Industries, partners take government to arbitration over gas pricing

MUMBAI (Reuters) – Reliance Industries Ltd (RELI.NS: Quote, Profile, Research) and its partners in a gas block, BP Plc (BP.L: Quote, Profile, Research) and Niko Resources (NKO.TO: Quote, Profile, Research), said on Saturday they were taking the government to arbitration seeking implementation of higher gas prices.

The government in June last year approved a formula, linking prices of locally produced gas with global benchmarks, that could have nearly doubled gas prices from the current $4.20 per mmBtu from April 1.

May 10, 2014

Reliance, partners take Indian govt to arbitration over gas pricing

MUMBAI, May 10 (Reuters) – India’s Reliance Industries Ltd
and its partners in a gas block, BP Plc and
Niko Resources, said on Saturday they were taking the
Indian government to arbitration seeking implementation of
higher gas prices.

The government in June last year approved a formula, linking
prices of locally produced gas with global benchmarks, that
could have nearly doubled gas prices from the current $4.20 per
mmBtu from April 1.

Apr 17, 2014

Wipro upbeat on growth prospects; profit beats f’cast

BANGALORE/MUMBAI (Reuters) – Wipro (WIPR.NS: Quote, Profile, Research), India’s third-biggest IT services exporter, posted forecast-beating quarterly profit on Thursday and said it expects a stronger year ahead on increased spending by overseas clients.

The company is part of a $100 billion-plus Indian outsourcing sector that generates about 90 percent of its sales from providing services such as IT network installation and the development of software applications for overseas clients that are finally beginning to loosen their purse strings.

Apr 17, 2014

Indian IT outsourcing firm Wipro upbeat on growth prospects

BANGALORE/MUMBAI, April 17 (Reuters) – Wipro,
India’s third-biggest IT services exporter, posted
forecast-beating quarterly profit on Thursday and said it
expects a stronger year ahead on increased spending by overseas
clients.

The company is part of a $100 billion-plus Indian
outsourcing sector that generates about 90 percent of its sales
from providing services such as IT network installation and the
development of software applications for overseas clients that
are finally beginning to loosen their purse strings.

Apr 16, 2014

TCS net profit rises 51.5 percent, sees stronger sales growth

MUMBAI (Reuters) – Tata Consultancy Services Ltd (TCS.NS: Quote, Profile, Research), India’s largest IT services exporter, expects a further rise in revenue growth in the new financial year, it said on Wednesday, after reporting a better than expected 51.5 percent increase in the last three months.

Over the last two years TCS has been increasing its profits at a faster pace than local rivals Infosys Ltd (INFY.NS: Quote, Profile, Research) and Wipro Ltd (WIPR.NS: Quote, Profile, Research), which have been distracted by management revamps and strategy changes.

Apr 16, 2014

India’s Tata Consultancy sees stronger sales growth this year

MUMBAI, April 16 (Reuters) – Tata Consultancy Services Ltd
, India’s largest IT services exporter, expects a
further rise in revenue growth in the new financial year, it
said on Wednesday, after reporting a better than expected 51.5
percent increase in the last three months.

Over the last two years TCS has been increasing its profits
at a faster pace than local rivals Infosys Ltd and
Wipro Ltd, which have been distracted by management
revamps and strategy changes.

Apr 15, 2014

Infosys says staff exodus a worry after fourth quarter profits beat estimates

BANGALORE/MUMBAI (Reuters) – Staff left India’s second largest IT services exporter Infosys Ltd (INFY.NS: Quote, Profile, Research, Stock Buzz) at an unprecedented pace in the last quarter, worrying its management and raising investors’ concerns about its ability to win lucrative contracts even as it posted a higher-than-expected net profit for the period.

Retaining staff is a challenge for all Indian IT services firms, which rely on armies of young, mainly low-paid workers to remain competitive in an industry worth more than $100 billion.

Apr 15, 2014

Infosys says staff exodus a worry after Q4 profits beat estimates

BANGALORE/MUMBAI, April 15 (Reuters) – Staff left India’s
second largest IT services exporter Infosys Ltd at an
unprecedented pace in the last quarter, worrying its management
and raising investors’ concerns about its ability to win
lucrative contracts even as it posted a higher-than-expected net
profit for the period.

Retaining staff is a challenge for all Indian IT services
firms, which rely on armies of young, mainly low-paid workers to
remain competitive in an industry worth more than $100 billion.

Apr 11, 2014

Staff exodus to weigh on Infosys turnaround efforts

MUMBAI, April 11 (Reuters) – An exodus of senior executives
and staff at India’s second largest IT outsourcing firm, Infosys
Ltd, could hamper efforts to win lucrative contracts
in the United States and Europe, and weigh on its profit growth
outlook for this year.

Nearly a fifth of the workforce had left the company in the
quarter ended December following the return from retirement of
founder N.R. Narayana Murthy in June to turn around the company
after a string of disappointing results. So far, nine senior
executives have left.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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