Infosys Technologies, India's No. 2 IT services exporter, plans to raise wages for all its staff in April on a rebound in demand for outsourcing services, a spokeswoman said on Thursday.
Wipro Technologies, the IT services business of India's No. 3 software exporter Wipro Ltd, said on Thursday it has entered into a 7-year deal with The Main Street America Group to provide software services.
Indian IT firms had a muted reaction to the federal budget on Friday with a tax increase expected to pressure their cash flow, even as a much-awaited extension of another tax benefit did not materialise.
India's software and services exports should rise 5.5 percent in the year to March 2010 to $49.7 billion, an industry body said on Thursday, in line with an earlier forecast for 4-7 percent expansion.
IT training services provider Aptech Ltd said on Thursday it will acquire Maya Entertainment Ltd, which provides animation and multimedia education services, in a deal valued at 760 million rupees.
IT services firm Tech Mahindra Ltd on Friday reported a 22 percent fall in quarterly profit, weighed down by interest costs on borrowings to fund its acquisition of Satyam Computer Services.
Global research firm Gartner Inc said on Thursday worldwide IT spending would rise 4.6 percent to $3.4 trillion in 2010, on the back of an economic recovery and a declining dollar.
Wipro Ltd underscored the sector's recovery with a quarterly profit that beat market forecasts and an upbeat outlook, as a global recovery boosts demand from key financial clients.
Tata Consultancy Services is seeing continued demand for outsourcing services from the United States as the economy there recovers, the company said on on Friday.
Tata Consultancy Services glided past street estimates with a 33 percent rise in quarterly profit as demand for outsourcing surged and prices stabilised, fuelling hopes of recovery in the showpiece sector.
Infosys Technologies, India'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.
Infosys Technologies reported a first-ever drop in quarterly profit on salary hikes and a firmer rupee, but raised its full-year forecast, underscoring a recovery in demand for outsourcing.
Infosys Technologies' revenue growth for the December quarter has been able to absorb a rise in wage cost comfortably, a senior company official said on Tuesday.
Infosys Technologies, India's second-biggest software services exporter, raised its annual sales forecast as an improving global economy helps its mainstay financial services clients boost orders.
Leading software services companies are set to report a fall in profit margins for the last quarter due to a firmer local currency, though demand for outsourcing is improving in a global economy on the mend.
Infosys Technologies, India's No. 2 software exporter, has been selected to implement a 3.87 billion rupee ($83 million) IT project for Karnataka's power distribution utilities, two government officials said.
HCL Axon, a unit of HCL Technologies said on Wednesday its unit signed a 5 year IT services agreement with UK-based GlaxoSmithKline (GSK).
Infosys Technologies, India's second-largest software services exporter, has set up a wholly owned unit in the United States to win outsourcing deals from government departments, a senior official said.
Mahindra Satyam Ltd is paying $70 million to Britain-based Upaid Systems Ltd in a patent suit settlement which analysts says lifts uncertainty from the Indian technology outsourcer.
Infosys Technologies, India's No. 2 outsourcer, expects four business segments it entered in the past three years to each contribute at least $1 billion in revenue by 2013, the Mint newspaper reported on Friday.
