The Indian IT industry is bullish about its hiring plans for the next six months and a major chunk of these recruitment is expected to happen for the junior level, says a report.
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Why Accenture guidance is good news for Indian IT companies
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Accenture s robust 3QFY21 performance and commentary is a positive read-across for Indian IT companies as it indicates continued demand in key industries
(Mint)
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Read Full Story For investors in Indian IT stocks, there are a couple of positive takeaways from Accenture’s Q3FY21 result. The IT firm saw strong constant currency revenue growth of 16% year-on-year. The growth, aided by a low base, beat Bloomberg’s consensus estimates by 400 basis points (bps) and the top end of its own guidance by 300 bps. This bodes well for tier-I firms such as Tata Consultancy Services, Infosys and HCL Technologies as Accenture’s earnings are often seen as an indicator for Indian IT companies’ future performance.
Read more about Cognizant learns an HR lesson as people shortage impacts business momentum on Business Standard. A challenging strategy to accelerate growth has ironically dragged the former IT racehorse into bigger troubles over people management
Wipro on Thursday touched Rs 3 trillion in market capitalisation for the first time, becoming the third Indian IT firm to achieve the milestone after Tata Consultancy Services and Infosys. Wipro’s stock hit Rs 550 in early trade, rising 1.27 per cent against the previous close of Rs 543.05 on BSE. Its market capitalisation at that stood at Rs 3.01 trillion. India s benchmark equity index Sensex rose 0.6% to 52,169 points. According to a Mint report, Wipro stock has surged since Thierry Delaporte joined as CEO and MD of the company. Delaporte slashed the top ranks of leadership from 25 people to four. The company won its largest deal ever from German retailer Metro and has seen deal wins of $7.1 billion