Midsize outsourcing and IT services firm Zensar Technologies reported higher profits for the April-June quarter, boosted by the sharp run-up in the value of the dollar against the rupee. Revenue rose 2.3% on quarter in dollar terms and 7.1% in rupee terms. Adjusted for currency movements, revenue was up 4.1% on quarter and 17.5% on […]
Sterlite Tech said it has got the confirmed order to build and manage a pan-India digital network to enable communication for the Indian Navy. Typically, such projects are won by multinational companies. However, given that the network will be used for defence purposes, the Navy seems to have preferred an Indian vendor. Nevertheless, it will […]
Tata Communications, the wholesale communication arm of the Tata Group, said it has agreed to buy Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE). The company was already the single largest shareholder in Teleena with a 35% stake, following an investment in January 2017, and has extensive dealings with […]
Hindustan Construction Company Ltd said its joint venture with Hyundai Development Corporation has won the contract to construct the Mumbai Coastal Road Project between Haji Ali and the Bandra Worli Sea Link, worth Rs 2,126 crore. The contract forms one of the three packages within the first phase of the highway. Construction on the first phase is […]
HCL Technologies said it has signed up a new client — Australian power transmission company TransGrid, based in New South Wales. The five year deal will see the Indian outsourcing company provide most of the outsourcing functions for the company, including service desk operations, data center operations, security, disaster recovery, end-user computing facilities and applications. […]
Vakrangee Ltd, the Mumbai-based technology and distribution company, said the ministry of corporate affairs of India has ordered an inspection of its accounts for three years, and that PricewaterHouse will step down as the company auditor as part of the exercise. The inspection will be carried out under section 206 of the Companies Act. The […]
Outsourcing services provider Tata Consultancy Services and instrumentation and industrial automation company Fortive Corp said they would work together to develop Internet-of-Things-based solutions. TCS is already Fortive’s outsourcing partner. Fortive provides solutions in the fields of instrumentation, transportation, sensing, product realization, automation and specialty, and franchise distribution. “As part of this partnership, TCS will jointly […]
Rolta India, a provider of geospatial and IT solutions to government and non-government organizations in India, said it received a notice informing it that Union Bank of India has started insolvency proceedings against the company. The proceedings have been started in the National Company Law and Appellate Board on 17 days ago. “The company has […]
HCL Technologies, one of India’s top five IT services companies, said Anglo American, owner of De Beers diamond brand, has retained its services for another five years even as the mining company seeks to cut costs by leveraging cloud and digital technologies. “The multi-year deal will see HCL continue to support Anglo American through the […]
India’s biggest private sector employer, Tata Consultancy Services, said Kuwait Clearing Company, the clearing entity of Boursa Kuwait, has chosen its software to provide CCP services. A central counterparty clearing house (CCP) is a corporate entity that reduces counterparty and default risk for traders. It acts as the counterparty to the buyer and the seller […]
Infosys said it will open a ‘Technology and Innovation Hub’ in the US state of Arizona and hire 1,000 American workers in the state by 2023. Infosys said it has hired 5,874 American workers in the last 16 months. Arizona center will focus on autonomous technologies, Internet of Things (IOT), full-stack engineering, data science and cyber security. […]
Oursourcing major Infosys has been directed to pay around Rs 12.17 cr to former CFO Rajiv Bansal by an arbitration panel. The panel was set up after Infosys landed in a controversy over the ‘huge payout’ extended to the former CFO when he left the company three years ago. The arbitration panel comprised retired Supreme […]
Outsourced services provider Infosys said it has made yet another investment of $1.5 mln in start-up software company TidalScale, taking the total to $3 mln. TidalScale creates software that helps ‘merge’ multiple servers (or powerful computers) into a giant and super-powerful unit. Traditionally, the need for more power has been met by ‘clustering’ servers together. […]
Infiosys announced it was buying Europe-based Salesforce consultant Fluido for an undisclosed sum. The acquired company has over 240 specialists and offices in Finland, Denmark, Sweden, Norway and Slovakia. Salesforce is a low-cost alternative to customer relationship management software from the likes of Oracle and SAP, and is preferred by smaller organizations and those that […]
HCL SSHS, a joint venture between HCL Technologies and US-based State Street Corporation, said it plans to recruit over 1,000 graduates and post-graduates in commerce, accountancy and finance for its new office in Ganavaram, Vijayawada. The new office has been set up at Medha Tech Park and will be dedicated to finance-related processes such as Capital Markets […]
Infosys, the Indian IT services company, has been roped in to make the Australian Open tennis tournament more engaging for the fans. Infosys CEO Salil Parekh said the idea is to “change the way the Australian Open is watched, analysed and played” Australian Open is one of the top five tennis tournaments in the world. […]
Engineering outsourcing company L&T Technology Services said it has agreed to acquire 100% of Bangalore-based semiconductor services firm Graphene for an undisclosed amount. The all-cash transaction is expected to be complete by October, it said. Graphene Semiconductor Services Private Limited is one of the fastest growing companies in the Semiconductor Services domain with a presence […]
IT outsourcing firm Wipro said it has won a $1.5-1.6 bln deal from US-based Alight Solutions LLC in what it called “Wipro’s largest win to date”. The Bangalore-based company also announced that it has acquired Alight HR Services India Private Ltd, presumably the India unit of the same company. Under the 10-year deal, Wipro will help overhaul […]
Infibeam Avenues, one of India’s largest home-grown e-commerce companies, reported a standalone loss of Rs 14 cr for the first quarter due to a sharp increase in payment gateway charges. While operating revenue for the Apr-Jun quarter increased sequentially by Rs 5.3 cr to Rs 91.34 cr, payment gateway charges jumped by a whopping Rs […]
Ramco Systems, one of India’s top cloud software vendors, said it won yet another client from Philippines for its logistics management offering. It said AP Cargo Logistic Network Corp will implement Ramco Svstems’ Logistics Software to manage its freight operations nationwide. The deal includes Finance and human resource management modules as well, besides transport management, hub management; warehouse management, […]
