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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
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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.
Tata Consultancy Services (TCS), India’s largest IT services player, reported a strong set of numbers for its fourth quarter of FY21, as clients continued to spend on digital services and focused on reimagining their business operations. The biggest takeaway from the Q4 numbers was the order book at $9.2 billion, the highest ever reported by TCS in a quarter since the company started reporting this metric. TCS’ net profit for the quarter was up 14.9 per cent at Rs 9,246 crore year-on-year, and 6.2 per cent quarter-on-quarter (QoQ). Revenue at Rs 43,705 crore grew 5.9 per cent YoY and 4.2 per cent QoQ. For the full year, the company reported revenue of about Rs 1.65 trillion, up 4.6 per cent but on a constant currency basis revenue was down 0.8 per cent.
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April 01, 2021 11:32 IST
U.S. President Joe Biden did not issue a fresh proclamation for the ban on H-1B visas to continue after March 31.
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The H-1B visa is a non-immigrant visa that allows U.S. companies to employ foreign workers in specialty occupations that require theoretical or technical expertise.
U.S. President Joe Biden did not issue a fresh proclamation for the ban on H-1B visas to continue after March 31.
U.S. President Joe Biden on Thursday let the ban on foreign workers visa, in particular H-1B, lapse as the notification issued by his predecessor Donald Trump expired, a move which is likely to benefit thousands of Indian IT professionals.
Indian IT firms take to low-code, no-code solutions
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Indian IT services providers are seeing increased traction for low-code, no-code technology solutions, as clients look to build and customise their own applications.
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Low-code, no-code solutions are ones that do not require coding to build an application.
Mumbai | Bengaluru: Indian IT services providers are seeing increased traction for low-code, no-code technology solutions, as clients look to build and customise their own applications.
Low-code, no-code solutions are ones that do not require coding to build an application. They allow non-technical professionals, or citizen developers, to quickly build apps through simple drag and drop features and user-friendly layouts.