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MUMBAI: IT major Tech Mahindra has said it sees a growth in the headcount going forward and expects 5,000 freshers to join its workforce by June this year. The Mahindra Group company had an employee base of over 1.21 lakh as of December 31, 2020 and the utilisation had stood at an all-time high of 87 per cent. The way to look at it is that we will see headcount growth going forward, its Chief Financial Officer Manoj Bhat told analysts over a call recently. Our plan now is our campus recruitment programme has already started recruiting this quarter and over the next two quarters, we expect about 5,000 people to join. So I think on all fronts we are adding capability and talent, he added.
Bharti Airtel: The company, on Tuesday, said it is initiating the process to revise its foreign investment limit to 100 per cent with immediate effect.
Tata Elxsi: Tata Elxsi s net profit increased 39.5 per cent year-on-year (YoY) to Rs 105.2 crore for the December 2020 quarter.Its revenue from operations rose 12.7 per cent YoY to Rs 477.1 crore for the quarter.
Tata Motors: The firm reported a 1 per cent rise in global wholesales, including Jaguar Land Rover, to 2,78,915 units in the third quarter of the current fiscal.
Tech Mahindra: The company will acquire Payments Technology Services for $9 million. The acquisition will give Tech Mahindra access to IPs and licenses for two products - Open Payment Framework (OPF) and Multi-Bank System (MBS).
IT shares rise ahead of TCS third quarter earnings
While Nifty IT index traded 2.675% higher on Friday, BSE IT - Software index gained 2.58% during today s session
BusinessToday.In | January 8, 2021 | Updated 14:52 IST
As Indian IT companies gear to announce their third-quarter earnings of the current fiscal, industry experts believe that the October-December results will be best in a decade
Information Technology (IT) firms were in focus today, with heavyweights like Tech Mahindra, HCL Technologies, Infosys and Tata Consultancy Services trading as top gainers on BSE and NSE, ahead of earnings announcement of the country s largest IT company, TCS.
TCS is likely to report QoQ growth of 4.5% in Q3 in USD terms, according to Edelweiss.
Shares of information technology (IT) companies were trading higher, surging up to 6 per cent on the BSE, ahead of sector giant Tata Consultancy Services (TCS ), October-December 2020 quarter (Q3FY21) result, scheduled to be announced after market hours today. Meanwhile, Tech Mahindra has joined the elite Rs 1-trillion market capitalization (market-cap) club on the BSE as its share price rallied 6 per cent and hit an all-time high of Rs 1,060 on Friday. With market-cap of Rs 1.02 trillion at 02:15 pm, Tech Mahindra became the fifth IT company that joined Rs 1-trillion m-cap club. Overall, the company stood at 30th position in m-cap ranking, BSE data shows. Currently, among IT companies, TCS is numero uno with Rs 11.66 trillion market-cap, followed by Infosys (Rs 5.53 trillion), HCL Technologies (Rs 2.69 trillion) and Wipro (Rs 2.44 trillion), data shows.