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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.

Apr 4, 2014

Three men sentenced to death for gang-rapes in Mumbai

MUMBAI/NEW DELHI (Reuters) – Three men were sentenced to death on Friday for two gang-rapes last year in Mumbai, including an attack on a photojournalist that sparked protests in the city and raised fresh questions about attitudes to women in the world’s largest democracy.

A Mumbai court on Friday sentenced Vijay Jadhav, Kasim Bengali and Mohammed Salim Ansari to death, the first time capital punishment has been given for rape not involving the death of the victim.

Apr 3, 2014

India’s newest banks plot divergent growth strategies

April 3 (Reuters) – India’s two newest would-be banks,
Infrastructure Development Finance Co (IDFC) and Bandhan
Financial Services Ltd, are planning divergent paths in an
industry that is crowded with lenders but still fails to reach
roughly half the population.

Mumbai-based infrastructure lender IDFC and
Bandhan, a Kolkata-based specialist in small-value loans, on
Wednesday beat larger Indian corporate houses to win licences to
set up India’s first new banks in a decade, meaning they can
expand into a broader range of banking areas such as deposits.

Mar 19, 2014

Winter storms hit FedEx’s quarterly results, outlook

By Nivedita Bhattacharjee

(Reuters) – FedEx Corp (FDX.N: Quote, Profile, Research) on Wednesday said severe winter conditions had hurt quarterly earnings and revenue, prompting the world’s No. 2 package delivery company to cut its fiscal-year profit forecast.

The unusual weather disrupted operations, reduced shipping volumes and increased costs, decreasing operating income by about $125 million in the third quarter ended on February 28, FedEx said.

Mar 19, 2014

Winter storms hurt FedEx during holiday quarter

By Nivedita Bhattacharjee

(Reuters) – FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz) on Wednesday reported lower-than-expected results for the holiday quarter and gave a fiscal-year profit forecast below Wall Street estimates, the latest in a line of companies saying they were hurt by winter storms.

The world’s No. 2 package delivery company said the unusual weather had disrupted operations, reduced shipping volumes and increased costs, decreasing operating income by about $125 million in the third quarter ended on February 28.

    • 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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