Page 32 - It Sector News Today

The net addition of employees has dropped compared to the previous quarter

Upskilling costs can continue for an IT professional, but several companies offer to pay their employees for this

As per ICICI Securities, there has been a notable deceleration in significant leasing decisions since January 2023. This slowdown can be attributed to global macro headwinds, including the rise in interest rates and a slowdown in hiring by technology multinational corporations (MNCs), which account for 67% of the demand for office space in India.

​Again, if you look at the market breadth where 70% of the stocks are now trading above the operating average that again gives us the confidence that the current breakout should not get fizzled out in months.

Power sectors entry to this entire move is probably not new but today it is getting highlighted because in a weak market you are seeing almost all segments of power doing well.

The domestic IT sector is bearing the brunt of a global slowdown, project cancellations, delays in decision-making process and reduction in small-scale and time-sensitive deals.

Revenue came in at Rs 8,702.1 crore, up 13.8% year on year, which also missed estimates. The company created from the merger of erstwhile Larsen and Toubro Infotech and Mindtree started operating as a merged entity in December 2022.

Fixed-price projects allow better cost control and a greater ability to introduce automation in projects and expand margins. By contrast, ‘time and material control are directly linked to the number of people hard-locked to billable projects.

Most of the projects discussed by the Indian IT firms, though promising, are still at the proof of concept stage, and it will be a while before they start generating revenue, analysts said.

IT majors have been trying to tackle weak revenue estimates and dip in worker turnover by reducing costs.