Page 41 - It Sector News Today

Investor sentiment towards the entire IT sector has soured as recession worries loom, and that could prompt clients to delay their IT spending.

The IT sector, which witnessed strong tailwinds during the times of the Covid-19 pandemic, seems to have hit rough weather.

After being the worst performed sectoral index in 2022, the Nifty IT index has had a great start to 2023. In the current month, the index has risen by 7.33%, gaining from 28,621.70 level on December 30, 2022 to 30,309.95 level as on January 24.

With around 2 lakh IT employees losing jobs within just three months in a massive layoff spree by top companies like Google, Microsoft, Facebook, and Amazon, Indian employees are scrambling for job options in the US within the time frame allowed by their work visas.

The quarter ended 31 December 2022 was a crucial one as we anticipate a slowdown and possible recession this year, , infosys, Tata Consultancy Services (TCS), wipro, HCLTech, hcl, it sector

The PLI scheme for IT sector will be pointed towards providing additional incentives for manufacturers and original equipment manufacturers (OEMs) that would incorporate Indian designed IP into their systems and products, , MoS Chandrasekhar, PLI scheme, it sector

Attrition in the second quarter of the fiscal year remained high for the major players: 27.1% for Infosys, 23% for Wipro, 21.5% for TCS, and 23.8% for HCL

The survey showed that more than half of the employees (57 per cent) are unenthusiastic or bored about their current jobs in India, with over 50 per cent of them preparing for new opportunities by reskilling/upskilling.

The correction in Indian IT stocks such as Wipro, Infosys and TCS this year has left investors confused about the positions they should take to achieve maximum returns from their portfolios. Among the three IT bellwethers, Wipro stock has slipped the most, declining 45% this year. Wipro shares which closed at Rs 715.20 on December 31, 2021 were trading at Rs 394.95 in the current session. On the other hand, Infosys stock has lost 18.19% and shares of TCS have tumbled just 11.45% in 2022. In a ti...

Tech firms are instructed to conduct layoffs with