Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The cheer around Accenture’s earnings is trickling to Indian IT stocks with Infosys, <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword>, <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> and <keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> rallying on December 17. </li><li>Accenture beat revenue estimates, brought in $12.9 billion in new deals, and its utilisation hit a 10-year high of 93%. </li><li>As outsourcing continues to remain one of the key drivers for Accenture and the likes of TCS, Infosys and HCL Tech have the most to gain from this wave. </li></ul>Accenture saw its stock surge by 10% after its better-than-expected earnings on December 17. The company’s revenue beat market estimates, bookings were at a whopping $12.9 billion and its utilisation hit a 10-year high of 93%. The company also increased its revenue guidance for the current fiscal year to between 4% to 6%, up from its previous forecast of 2% to 5% growth. Meanwhile, in India, Infosys, HCL Tech, Wipro and TCS are reaping the benefits. Both TCS and Infosys have hit new 52-week highs on the exchanges today. “We see Accenture’s strong 1QFY21 performance as a positive for companies under our Indian IT Services coverage,” said Motilal Oswal in its report dated December 18. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.63% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.93% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.69% </td></tr></tbody></table>Source: BSE, as of 10:00 am on December 17 Outsourcing wave continues Accenture's saw a 25% jump in new deals compared to last year between September and November. This includes 16 clients with over $100 million in bookings. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bookings </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consulting </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.6 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Outsourcing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.3 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TOTAL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.9 billion </td></tr></tbody></table>Source: Accenture's Q1FY21 earnings As outsourcing continues to remain one of the key drivers for Accenture and the likes of TCS, Infosys and HCL Tech <a href="https://www.businessinsider.in/tech/enterprise/news/rise-in-work-from-anywhere-will-lead-to-more-outsourcing-thats-an-opportunity-for-tcs-infosys-and-hcl-tech/articleshow/77864248.cms">have the most to gain from this wave</a>, according to Goldman Sachs. Going forward, Accenture expects new deals to grow even further. Everybody wants to be on the cloud — but who’s going to put them there? Accenture credits its ramp up of new bookings to the growth of cloud adoption. Going forward, it expects its revenue from cloud services, which accounts for around 30% of its revenue, to grow in double-digits. The company also invested $3 billion to create more assets to accelerate cloud migration. However, it was suggested that Accenture is facing the same issue as the Indian IT services companies — a lack of talent. “The management sounded caution on the supply front, suggesting there is a scarcity of Cloud talent in the market,” noted Motilal Oswal. Picking up new businesses on the cheap Just like Accenture, these four Indian IT services giants have been on the road to pick up businesses on the cheap and bolster their digital services. The global IT giant closed 10 acquisitions this quarter that cost Accenture around $500 million. By September next year, it expects to dole out another $1.2 billion as the trend of consolidation continues. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/wistron-apple-iphone-manufacturer-could-face-these-penalties-if-found-guilty/articleshow/79790319.cms">If investigators find Wistron management guilty, here's what is at stake for the company</a>

TCS, Infosys, HCL Tech and Wipro are riding on Accenture's high

<ul><li>The five large Indian IT services companies — Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro, and Tech Mahindra — are trading in the green today. </li><li>The rally in their share price is on the back of Accenture’s fourth-quarter earnings announced last night. </li><li>The company recorded $14 billion in new deal wins, more than half of which came from the outsourcing segment.</li><li>Its growth in revenue was driven by the health and public services vertical. </li></ul>Accenture’s latest earnings report strengthens the optimism for recovery in the Indian IT sector. And the rally in domestic IT stocks is a reflection of that. Tata Consultancy Services (TCS) is among the top movers in the market today. Its Indian IT services peers — Infosys, Wipro, HCL Technologies and Tech Mahindra — India’s top 5 most valuable IT stocks are also glittering green on the back of Accenture’s earnings. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.43% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.07% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.82% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.21% </td></tr></tbody></table>Source: BSE — Share price as of 9:50 am compared to previous day’s closing The fourth-quarter results of the Global IT services company indicate that demand is set to return to the sector. “Strong order booking, driven by outsourcing, implies demand is on the path to normalisation and recovery,” said Motilal Oswal in its report dated September 25. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Accenture's order book: </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New consulting orders </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New outsourcing orders </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$7.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total new order value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$14 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New large clients ($100 million plus) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17 </td></tr></tbody></table> The traction seen in outsourcing and the focus on cloud, in particular, bodes well for the Indian IT industry. Of the $14 billion worth of bookings that Accenture had on its books during the fourth quarter, more than half was from outsourcing. As of Q4, 70% of the company’s revenue was coming from businesses like digital, cloud and security — areas where Indian companies have also been doubling down. “The shift to cloud helps build a foundation for digital transformation and deflates costs which can be reinvested by enterprises to fund their digital transformation initiatives,” said Japanese brokerage Nomura. Healthcare — the diamond in the rough The biggest growth driver for Accenture is health and public services. However, that particular vertical is unlikely to benefit Indian IT service companies the same way. Most of them have relatively low exposure to healthcare. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vertical </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarterly growth by Accenture </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Health and public service </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Resources </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communications, media and technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.3% </td></tr></tbody></table> Nonetheless, TCS — recently having breached the ₹900 lakh crore valuation — is the only Indian IT services giant who’s healthcare market share is greater than its take of the manufacturing market. <div type="image" title="tcs healthcare (1)" msid="78309569" hostid="261" caption="&amp;lt;p&amp;gt;TCS share in the healthcare market&amp;lt;/p&amp;gt;"></div> Accenture’s revenue in the three months ended August fell 2% over the previous quarter to $10.84 billion. For the next fiscal year, the company expects operating margin to be in the range of 14.8% to 15.0%, an expansion of 10 to 30 basis points over the previous year. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-and-sbi-customers-are-facing-upi-payment-glitches/articleshow/78293815.cms">HDFC Bank and SBI customers are facing UPI payment glitches</a> <a href="https://www.businessinsider.in/defense/news/drdo-waives-performance-security-for-development-contracts-as-an-incentive-for-the-private-sector/articleshow/78295788.cms">DRDO waives ‘performance security’ for development contracts as an incentive for the private sector</a> <a href="https://www.businessinsider.in/science/space/news/the-first-ever-supermassive-black-hole-to-be-captured-on-camera-has-a-wobbly-shadow/articleshow/78290040.cms">The first-ever supermassive black hole to be captured on camera has a wobbly shadow</a>

TCS, HCL Tech, Infosys, and other IT stocks rally led by Accenture’s outsourcing strength

<ul><li>Global IT majors will have to bear the brunt of a strong US dollar, despite expectations of revenue growth.</li><li>Back home, Indian IT giants are bearing the brunt of concerns of a potential recession in the US and Europe.</li><li>Several economists have predicted that the US, the world’s largest economy, could slip into recession in the near term.</li></ul>While <keyword id="6357549" type="General" weightage="20" keywordseo="indian-it-companies" source="Orion">Indian IT companies</keyword> are worried about a potential slowdown due to recession, their global counterparts have already started factoring in the impact on their profitability and revenues because of it. The fact that two overseas IT giants – <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> and <keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword> – have lowered their growth numbers says a lot about the bleak outlook for the sector because of rising inflation and currency headwinds. Accenture cut earnings per share for 2022 to $10.61-10.70, compared with its previous estimate of $10.61-10.81. The Russia-Ukraine war also had an impact on its earnings as it decided to close down its Russian business. The company said it expects a negative foreign exchange impact of 4.5% in fiscal 2022, worse than its previous forecast of a 3% forex hit, as per a <a href="https://www.reuters.com/business/accenture-beats-quarterly-revenue-estimates-2022-06-23/">Reuters</a> report. Note that Accenture makes more than half of its revenue from outside the US. A strong US dollar means weakness in other currencies – this has an adverse impact on companies with exposure to currencies other than the dollar. Confirming the bleak environment to make money, even Cognizant lowered its revenue guidance to 9-11% in constant currency terms as compared to 8.5-11.5% earlier. “Results were strong though the focus of the Street has shifted to impact on business in a recessionary environment,” said a report by Kotak Institutional Equities. A recession in the US and Europe will impact Indian IT companies directly Stocks of Indian IT companies have seen a major correction this year, as a surging inflation and the rising interest rates reduce the spending power of their clients in the US and Europe. Post the breakout of the Covid pandemic, Indian IT giants TCS, Infosys and Wipro reported record earnings as their clients rushed to digitize their operations to meet their growing IT needs. Now, it looks like the era of record growth is over, leading to sharp corrections in stock prices. <div type="image" title="IT firms top 5 companies" height="900" width="1200" msid="92437564" hostid="261" sizebytes="55924"></div> "The stock price correction (in Indian IT firms) has largely been due to de-rating of valuation multiples, as earnings estimates have largely remained intact or seen minor downgrades. The reasons for this sharp derating, as we mentioned above, are largely related to the global macro environment,” said a report by Phillip Capital. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/may-is-the-first-month-of-2022-when-startups-raises-less-than-2-billion/articleshow/92432430.cms">May is the first month of 2022 when startups raises less than $2 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mm-shares-hit-52-week-high-on-the-back-of-rural-revival-more-good-news-in-store/articleshow/92432812.cms">M&amp;M shares hit 52-week high on the back of rural revival – more good news in store</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/okinawa-electric-scooter-showroom-in-mangaluru-catches-fire-several-scooters-destroyed/articleshow/92433747.cms">EV fire – Okinawa electric scooter showroom in Mangaluru catches fire, several scooters destroyed</a>

Accenture, Cognizant could see revenue growth but a strong US dollar could spoil the party

<ul><li>The IT sector outperformed the broader markets in 2021 and many continue to do so this year as well backed by pent up demand for digital transformation.</li><li>Order book, deal pipeline and hiring trend indicate that the demand momentum could sustain in 2022, say analysts.</li><li>Earnings season begins with the results of major IT companies — <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword>, <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> — on January 12.</li></ul>Infosys, TCS and Wipro are among India’s top five technology services giants that will declare their quarterly earnings on Wednesday (January 12). For the last three months ending December 2020, consensus on the street seems to be that the earnings, for all the companies, are likely to strong growth. Remarkably, Infosys is likely to outpace TCS. <div type="image" title="infosys" height="900" width="1200" msid="88802110" hostid="261"></div>The tech party is likely to continue The last three months of any year is usually not the best time for India’s software exporters but the street is excited. This space has been one of the biggest gainers of the pandemic and that trend is likely to continue. In fact, foreign portfolio investors (FPIs) seem to be betting big on this space given their weightage in <a href="https://economictimes.indiatimes.com/markets/stocks/news/it-sector-weight-in-fpi-portfolio-at-record-high-in-december/articleshow/88737301.cms?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=Marketnewsletter&amp;ncode=609ddbe86ff2ff11618ff79bd180e80cd758fbea4c2dfe44681cd9faffcdd48188b59b1090491028dcd35b3a89d06fcfdd8912cfa3db8f278f6031edf028b4907f97bf07e2eb26884a6269d018789df0">technology stocks has risen to a multi-year high.</a> Optimists hark back to the improved guidance from Accenture last month, where the Nasdaq-listed information technology (IT) giant, which <a href="https://www.businessinsider.in/business/corporates/news/indian-it-firms-infosys-wipro-tcs-and-others-gain-after-us-based-peer-accenture-raised-fy22-revenue-guidance/articleshow/88335343.cms">increased its growth estimate </a>for the current financial year. And Infosys may beat TCS in revenue growth, according to at least two analysts. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change in last 5 days </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.5% </td></tr></tbody><tbody></tbody></table>Although TCS bagged 13 deals, the highest number of orders, Infosys may show better revenue growth compared to the Tata Group company, according to analysts at two broking firms, India Infoline and Motilal Oswal. Infosys shareholders have the ramp up in the Daimler contract to thank for this. The top IT companies are expected to post a revenue growth around 3-4.5%. Analysts at JM Financial expect IT major Infosys to raise its revenue guidance for the financial year 2022 to 18-19% from current 16.5 - 17.5%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected revenue growth in Oct-Dec </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.5% </td></tr></tbody><tbody></tbody></table>Source: India Infoline *Revenue growth in constant currency on a sequential basis The demand for IT services has been stronger than ever since the start of the pandemic, and that’s likely to continue. However, the biggest challenge of the last few months for the entire sector, the high levels of attrition, may have peaked, according to Motilal Oswal, another Mumbai-based broking firm. But the easing may not be enough to improve margins yet. “Among Tier I players, EBIT [earnings before interest and taxes] margin will be in a tight (-20 basis points to +40 basis points compared to three months ago) range, although they will see a steep decline v/s 3QFY21 profitability,” a Motilal Oswal report dated January 3 said. Here, if Accenture’s numbers are any sign, its attrition rate declined to 17%, which is still very high compared to other IT players, from 19% just three months earlier. Another factor that may play a significant role in the earnings of these software exporters is the nearly 3% weakening of the rupee during the three months between September and December. A weaker rupee magnifies the numbers for these companies who primarily earn in dollars and other foreign currencies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms">Elon Musk’s Starlink faces its first setback in India even before launch</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/future-retail-hindustan-unilever-bharti-airtel-and-other-hot-stocks-on-january-5/slidelist/88701641.cms">Future Retail, Hindustan Unilever, Bharti Airtel and other hot stocks on January 5</a>

Infosys may show faster growth than TCS in the Dec quarter, say analysts

<ul class="summary-list"><li>High-earning <keyword id="657946" type="PERSON" weightage="60" keywordseo="Millennials">millennials</keyword> will fuel <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword>'s comeback, per a <a href="https://preview.shorthand.com/23Faqrgvpquovd4i">new Accenture and TripAdvisor survey</a>.</li><li>They're most likely to spend their pandemic savings on travel, and they're already doing so on <keyword id="427866" type="PERSON" weightage="60" keywordseo="Luxury-travel">luxury travel</keyword>.</li><li>It's a good sign for the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, which needs the <a href="https://www.businessinsider.com/wealthy-spending-revive-economy-reopening-social-leisure-experience-solitary-2021-3">wealthy to spend</a> to get back on its feet.</li></ul>Wealthy millennials are busy booking tickets and packing their bags.High-income millennials are set to drive the post-pandemic travel boom, according to a <a href="https://preview.shorthand.com/23Faqrgvpquovd4i">new survey from Accenture and TripAdvisor</a> that polled 1,000 Americans. It defined millennial high earners as those raking in at least $100,000 a year. This cohort is most likely to spend big on travel this year, comprising the highest rate of luxury bookings (trips costing at least $5,000) among all other generations surveyed. Driven by a desire for self-care and relaxation, 37% of high-earning millennials have already booked or are planning to book a luxury trip, and 32% are planning to increase travel spending in 2021, nearly double the average respondent.In fact, the survey found that high-income millennials are most likely to spend their pandemic savings on travel. It's an on-brand finding for this demographic of the generation, who prefer to <a href="https://www.businessinsider.com/money-advice-spending-tips-experiences-boost-happiness-jean-chatzky-2019-3">spend on experiences like travel</a> and have saved up to <a href="https://www.businessinsider.com/henrys-millennials-pandemic-reopening-financial-challenges-2020-6">$3,000 a month during lockdown</a> last year.After a year in lockdown, they're looking to travel further and stay away longer, according to the survey. "Whether it's a domestic or international flight, young travelers are going the distance and heading to beaches, cities, and even on cruises," it reads.<h2>Luxury travel spending bodes well for the economy</h2>That high-earning millennials are willing to spend on this sector is an optimistic sign for <a href="https://www.businessinsider.com/travel-returning-boom-airlines-hotels-restaurants-spending-vacation-2021-3#especially-the-elderly-cohort-which-has-already-been-taking-flight-2">travel's comeback</a>. While more Americans <a href="https://www.businessinsider.com/travel-returning-boom-airlines-hotels-restaurants-spending-vacation-2021-3#especially-the-elderly-cohort-which-has-already-been-taking-flight-2">intend to travel</a> as the weeks go by, it's <a href="https://www.businessinsider.com/america-post-pandemic-glow-up-consumer-spending-shopping-2021-4">still a hole in the economy</a> that needs to be filled. Luxury travel spending is also a good sign for the economy overall. Economists are predicting that a lockdown lift will see the <a href="https://www.businessinsider.com/economic-outlook-stimulus-vaccines-gdp-growth-strongest-decades-fed-williams-2021-2">biggest boomtime</a> in a generation, potentially ushering in a <a href="https://www.businessinsider.com/us-economic-outlook-2020s-new-era-stimulus-vaccines-remote-work-2021-2">new era in the US economy</a>. Moody's Analytics expects the US economy to grow 6.4% in 2021 after <a href="https://www.businessinsider.com/us-economy-shrank-35-in-2020-after-growing-4-last-quarter-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">shrinking 3.5% in 2020</a>. But the US' economic fate will depend on whether Americans view their <a href="https://markets.businessinsider.com/news/stocks/us-excess-savings-coronavirus-pandemic-power-economy-recovery-moodys-2021-4-1030318905">$2.6 trillion in excess savings</a> as wealth or deferred income, BofA's head of North America Economics, Ethan Harris, wrote in March. Much of that is in the <a href="https://www.businessinsider.com/wealthy-spending-revive-economy-reopening-social-leisure-experience-solitary-2021-3">hands of higher-income households</a>, who have more of a propensity to spend.Consumer spending accounts for 70% of the American economy, and half of that is from the top 10% of American households, per estimates from Goldman Sachs and Deutsche Bank, respectively. That means about one-third of US GDP comes from spending by the top 10%.It also means that, as UBS strategist Keith Parker wrote in a March note, "higher-income households are key to driving the recovery in consumption." Those earning over $80,000 annually expect to increase their spending more than low- and middle-income earners, per a follow-up UBS note.BofA Research has separately found that spending among lower-income households continues to run the strongest as the economy reopens. High-earning millennials shelling out on luxury travel could help turn the tides toward increased spending among the wealthy, which would help get the economy back on its feet.

Wealthy millennials are set to drive the post-pandemic travel boom, survey finds

A survey conducted by <a href="http://www.businessinsider.in/accenture-has-acquired-one-of-the-biggest-digital-agencies-in-germany/articleshow/57256179.cms">Accenture</a> has come up with shocking revlations about the <a href="http://www.businessinsider.in/survey-reveals-shocking-details-about-gender-pay-gap/articleshow/57495188.cms">gender pay gap</a> in India, citing that Indian men earn 67% more on average than their women counterparts. This disparity is much higher than the global average of 40% across industries. 
 
The survey, titled 'Getting to Equal 2017', is based on the average pay gap between employed men and women across levels in 31 industries over a 12-month period. For the purpose of this survey, bonuses were excluded from consideration, and 28,000 women and men were surveyed in 29 countries. 
 
Also read: <a href="http://www.businessinsider.in/Harvard-economist-says-closing-the-US-gender-wage-gap-isnt-as-simple-as-equal-pay-for-equal-work/articleshow/51320655.cms">Harvard economist says closing the US gender wage gap isn't as simple as 'equal pay for equal work'</a> 
 "The <keyword id="2191211" type="UNKNOWN" weightage="100" keywordseo="gender-pay-gap">gender pay gap</keyword> is due to a combination of factors, one of the major reasons being cultural and social issues," <keyword id="212963" type="PERSON" weightage="100" keywordseo="Rekha-Menon">Rekha Menon</keyword>, chairman, <a href="http://www.businessinsider.in/Accentures-startup-innovation-hub-coming-to-India-soon/articleshow/49138061.cms">Accenture India</a> told ET. "Culturally, women are still meant to be prime care-givers at home. It is culturally acceptable for women to take breaks. Even otherwise, women don't negotiate for better pay and are more accepting of what they are offered." 
 
If trends remain as are, the pay gap won't close until 2080 in developed markets, and 2168 in developing markets, said the survey. 
 
Also read: <a href="http://www.businessinsider.in/The-gender-pay-gap-will-not-close-until-2186/articleshow/55071799.cms">The gender pay gap will not close until 2186</a> 
 
According to the research, cultural and social issues account for the maximum 62% share in the reasons behind the pay gap in India. 
 
(Image source: Huffington Post)

Indian men earn 67% more than women, says Accenture survey

New <a href="https://www.businessinsider.com/us-weekly-jobless-claims-unemployment-benefits-insurance-economic-recovery-hiring-2020-9">US jobless claims are back on the rise again</a>. The latest report (870,000) was above the consensus economist estimate (840,000). However, the aggregate sum of Americans receiving unemployment benefits is still down from the previous period. <a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a>Like the newsletter? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. <h2><a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9">Private equity puts recruiting on pause</a></h2><a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9"></a>Here's a fun one out of <a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9">Reed Alexander and Casey Sullivan</a>. Recruiting in private equity has <a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9">gotten aggressive</a>. In recent years, young analysts at investment banks would only have been on the job for a few weeks before <a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9">PE recruiters came calling</a>.This year, however, <a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9">is different</a>. With so much up in the air, headhunters and private-equity firms <a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9">have called a cease fire</a>, so to speak, on going after young talent. Reed and Casey have all the details <a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9">on what led to the timeout</a>. <a href="https://www.businessinsider.com/private-equity-associate-recruiting-timeline-kickoff-pandemic-oncycle-2020-9">Click here to read the full story.</a><h2><a href="https://www.businessinsider.com/wells-fargo-ceo-scharf-black-talent-remark-analysis-hires-diversity-2020-9">How Wells Fargo CEO Charlie Scharf, who's under fire for his 'limited' Black talent remark, filled the bank's top ranks with white men from his JPMorgan days</a></h2><a href="https://www.businessinsider.com/wells-fargo-ceo-scharf-black-talent-remark-analysis-hires-diversity-2020-9"><div type="image" title="Charlie Scharf, the chief executive of Wells Fargo, was appointed to his post in late 2019." height="1887" width="2516" msid="78315243" hostid="261"></div></a>I've talked a lot about the comments from Charlie Scharf, Wells Fargo's CEO, on recruiting and hiring Black talent. <a href="https://www.businessinsider.com/wells-fargo-ceo-scharf-black-talent-remark-analysis-hires-diversity-2020-9">Here's a great analysis piece</a> from Rebecca Ungarino detailing how since Scharf arrived at Wells in October 2019 he has had a chance to reshape senior management, filling eight executive positions during his tenure. In the end, the majority of new hires to his senior leadership team <a href="https://www.businessinsider.com/wells-fargo-ceo-scharf-black-talent-remark-analysis-hires-diversity-2020-9">have been white men</a> he worked with at JPMorgan. <a href="https://www.businessinsider.com/wells-fargo-ceo-scharf-black-talent-remark-analysis-hires-diversity-2020-9">Read the entire story here</a>. <h2><a href="https://www.businessinsider.com/accenture-earnings-consulting-strategy-revenue-outlook-outsourcing-2020-9">Accenture execs say that the firm's consulting and strategy work should bounce back from a pandemic-induced slump within a year</a></h2><a href="https://www.businessinsider.com/accenture-earnings-consulting-strategy-revenue-outlook-outsourcing-2020-9"><div type="image" title="FILE PHOTO: Visitors look at devices at Accenture stand at the Mobile World Congress in Barcelona, February 26, 2013. REUTERS/Albert Gea/File Photo " height="2293" width="3058" msid="78315250" hostid="261"></div></a><a href="https://www.businessinsider.com/accenture-earnings-consulting-strategy-revenue-outlook-outsourcing-2020-9">Consultants have been hit hard by the coronavirus</a>, as companies impacted by the pandemic have cut budgets that could be allocated toward their services. <a href="https://www.businessinsider.com/accenture-earnings-consulting-strategy-revenue-outlook-outsourcing-2020-9">Samantha Stokes has the latest from Accenture's earnings call</a> on what the road ahead looks like. <a href="https://www.businessinsider.com/accenture-earnings-consulting-strategy-revenue-outlook-outsourcing-2020-9">Read more here.</a> Odd lots:<a href="https://www.wealthmanagement.com/regulation-compliance/betterments-search-cco-continues"></a><a href="https://www.reuters.com/article/us-wells-fargo-yodlee-data/wells-fargo-signs-data-exchange-agreement-with-envestnet-yodlee-idUSKCN26F1QB">Wells Fargo signs data exchange agreement with Envestnet Yodlee (Reuters)</a><a href="https://www.businessinsider.com/inside-winston-strawn-blank-romes-new-data-privacy-teams-2020-9">Big Law firms are launching new groups dedicated to data privacy and biometrics. Here's why they're betting changes in regulations are creating a huge opportunity. (BI)</a><a href="https://www.businessinsider.com/top-law-schools-oci-recruiting-timelines-columbia-nyu-virtual-interviews-2020-9">On-campus interviews for law students are getting postponed and moving online. Here's the latest on how Columbia, NYU, and 4 other law schools are reworking the high-stakes process. (BI)</a><a href="https://www.nytimes.com/2020/09/24/business/kevin-mayer-tiktok-redbird.html">After Brief TikTok Run, Kevin Mayer Is in Talks to Join Investment Firm (NYT)</a><a href="https://www.insider.com/tom-hanks-paid-for-running-scene-in-forrest-gump-2020-9">Tom Hanks paid for the iconic cross-country running scene to be in 'Forrest Gump' himself after the studio said it was too expensive (Insider)</a><a href="https://www.insider.com/watch-all-shia-labeouf-scenes-from-charity-table-read-2020-9">Someone edited all of Shia LaBeouf's scenes from his wild table read with Jennifer Aniston and Brad Pitt into one must-watch video (Insider)</a><a href="https://www.businessinsider.com/amazon-event-ring-always-home-cam-new-echo-all-announements-2020-9">The 7 biggest announcements Amazon made at its Echo event, from a mini drone that can fly around your home to a cloud-gaming service (BI)</a><a href="https://www.businessinsider.com/olive-gardens-times-square-restaurant-is-losing-300000-every-week-2020-9">Olive Garden's Times Square restaurant is burning through $300,000 every week, as New York City restaurants await the return of indoor dining (BI)</a>

PE recruiting on pause — Wells CEO's history of hiring — Accenture's outlook

<ul><li>A recent study by <keyword id="574638" type="COMPANY" weightage="20" keywordseo="McKinsey-Company">McKinsey &amp; Company</keyword> said that the companies that have a higher share of women in their senior management teams outshined those with few or no women. </li><li>However, the increased boardroom participation is due to a law that mandates at least one woman on every company board. </li><li>Last year, Intel claimed that it has achieved gender pay parity across the workforce. </li><li>Uber says it believes in equality and makes sure women get equal opportunity and earnings as men. </li></ul>Companies in India are striving to achieve gender parity in the workforce and boost women participation across verticals. A recent study by McKinsey &amp; Company said that the companies that have a higher share of women in their senior management teams outshined those with few or no women. In fact, research shows that over 30% of the non-technical roles are represented by women — including 11% participation in the leadership roles. “Today there are many women who are active in roles like machine operators, cab drivers, construction workers, field sales etc. The organisations have undertaken advanced skilling initiatives to improve the employability and productivity of the workforce. In fact, more organizations are now using apprenticeships to train and skill women, many also absorbing them,” Sumit Kumar, Vice President at NETAP, TeamLease told Business Insider. However, the increased boardroom participation is due to a law that mandates at least one woman on every company board. “Inclusion of women has significantly increased today, from the field to the board room. Over the last few years, regulatory interventions along with the introduction of new labour policies has been aiding this paradigm shift,” said Kumar. Here’s what TCS, Netflix, Uber and others are doing to bring more women onboard : Intel 
	
 
 
 
 
 
 
 <div type="image" title="FILE PHOTO: U.S. chipmaker Intel Corp&amp;#39;s logo is seen on their &amp;quot;smart building&amp;quot; in Petah Tikva, near Tel Aviv" msid="74534157" hostid="261" caption="&amp;lt;p&amp;gt;U.S. chipmaker Intel Corp&amp;#39;s logo is seen on their &amp;quot;smart building&amp;quot; in Petah Tikva, near Tel Aviv, Israel December 15, 2019. Picture taken December 15, 2019. REUTERS/Amir Cohen/File Photo&amp;lt;/p&amp;gt;"></div>















 Last year, Intel claimed that it has achieved gender pay parity across the workforce. Its Home to Office (H2O) hiring programme is focused at bringing the women employees back at work after a career break. The Global Gender Gap Report 2020 by the <keyword id="69007" type="COMPANY" weightage="20" keywordseo="World-Economic-Forum">World Economic Forum</keyword> (WEF) shows that women represent merely 12% of workforce in cloud computing and 26% in data and artificial intelligence. To push women in technical roles, ‘Intel Involved’ inculcates interest in STEM among girl students, thereby helping women to take up technology roles. “When I started in the technology industry over two decades ago, opportunities for women, especially at senior levels within organizations, were very few. While women have come a long way since, substantial gaps remain when it comes to gender parity. There is wider recognition of the fact that true gender parity is the key to thriving economies and societies. Technology companies are more aware than ever that a diverse workforce and inclusive culture are not just critical to their evolution but are the driving forces of their growth,” Huma Abidi, senior director at Intel Corporation. <keyword id="6370971" type="COMPANY" weightage="20" keywordseo="accenture">Accenture</keyword> 
 
 
 
 
 
 <div type="image" title="accenture flickr" msid="74535478" hostid="261"></div>













 Women represent 44% of the workforce in Accenture, globally. It was one of the first companies to measure gender ratio. The tech giant is focussed at achieving a gender balanced workforce in the next five years and having 25% women in leadership roles. It offers executive sponsorship to promote equality. The sponsors invest in learning and development of women employees, under its ‘Grow Women in Leadership’ programme. Since 2016, more than 500 women executives at senior levels in India have benefited from this global initiative. “We hire, retain and grow women to have long and fulfilling careers through a combination of investments to remove the challenges that women face with staying in work including career pathing, learning &amp; development and childcare &amp; family friendly policies,” Accenture said. Unacademy 
	
 
 
 
 
 
 
 <div type="image" title="B7FD5DCB-9242-4AEE-856A-582236AEF476" msid="74534182" hostid="261"></div>















With 37% of the total workforce as women, Uncademy says it gives utmost priority to gender equality. Unacademy an education technology platform which claims to have at least 38% women in leadership positions. It has rolled out several HR practises including an in-house wellness room equipped with comfortable bunk beds and hot water bag to enable a conducive work environment. Unacademy says it conducts yoga sessions and menstrual health and hygiene workshops also. Netflix 
	
 
 
 
 
 
 
 <div type="image" title="NETFLIX-LATINOAMERICA" msid="74534184" hostid="261" caption="&amp;lt;p&amp;gt;ARCHIVO - En esta fotografia de archivo del 4 de noviembre de 2017, el logotipo de la empresa estadounidense Netflix en la semana de videojuegos de Paris en Paris. (Foto AP/Christophe Ena, archivo)&amp;lt;/p&amp;gt;"></div>















 Global Streaming giant Netflix recently partnered with the United Nations for equality. As much as 49% of its workforce is women. “We hope that it will spread the message that realizing women’s rights means putting women front and center to achieve gender equality,” says Netflix. Uber 
	
 
 
 
 
 
 
 <div type="image" title="Jyoti Bhujade." msid="74534192" hostid="261" caption="&amp;lt;p&amp;gt;UBER&amp;lt;/p&amp;gt;"></div>















Uber says it believes in equality and makes sure women get equal opportunity and earnings as men. “We are also committed towards fostering a culture of inclusiveness and diversity. Through various initiatives and programmes, we aim to onboard more women and gender-diverse partners by devising a value proposition that offers earnings, safety and support experience to them. We would like to continue onboarding more women driver partners so that they can make a mark in the industry of mobility and earn a sustainable livelihood," Uber said. Zivame 
	
 
 
 <div type="image" title="Amisha Picture (1)-min" msid="74537728" hostid="261"></div>









 Zivame has about half the workforce as female for the past 2 years. With it, it also claims to have “a 50:50 ratio within their leadership team”. According to Siddharth Vishwanath, Head- Human Resources, Zivame, diversity at the leadership table helps them make strategic decisions to grow and promote merit-based talent irrespective of gender, and create superior value for stakeholders. <keyword id="6354742" type="PERSON" weightage="20" keywordseo="Flipkart">Flipkart</keyword> 
	
 
 
 
 
 
 
 <div type="image" title="WhatsApp Image 2020-01-21 at 12.57.58 PM." msid="74534213" hostid="261"></div>















 Flipkart has a diverse opportunities for its women employees. It supports employees who are working parents with its ‘Mom on Board’ programme, which is designed for new mothers to grow in a structured manner. In fact, the provision of maternity leave at Flipkart in case of adoption is same as biological mothers. “At Flipkart, several employees are working parents with children across different age groups, and many others are on their journey to embracing parenthood. As parents, they do not need to prioritise work over children, or vice versa; and we believe that with the right policies in place, working parents can achieve great success without any compromises, while bringing their ‘whole’ selves to work everyday,” said Krishna Raghavan, chief people officer (CPO) at Flipkart. Western Digital 
 
 
 
 
 
 <div type="image" title="western digital" msid="74535563" hostid="261"></div>













 Western Digital, which is among the top 100 employers for women in India, helps new mothers with its mentorship programmes to assure self-confidence and development of leadership skills among its women employees. Its sponsorship programme promotes women in their career, along with various rewards and recognition. “There is a strong need for companies to have dedicated programmes for women who want to take a break during the childbirth and early development of a child. Investing in programmes for reskilling such that they can Leapstart to the workforce Is imperative. Having a fair representation of women leaders in the organisation will encourage other women employees to feel inspired in the workplace,” said Supria Dhanda, country manager and VP of <keyword id="1254279" type="COMPANY" weightage="20" keywordseo="Western-Digital-India">Western Digital India</keyword>. <keyword id="6968257" type="COMPANY" weightage="20" keywordseo="optum-global-solutions">Optum Global Solutions</keyword> Optum Global Solutions, a part of the <keyword id="241662" type="COMPANY" weightage="20" keywordseo="UnitedHealth-Group">UnitedHealth Group</keyword> encourages an inclusive ecosystem to nurture a bias-free and high-performing culture. “The increasingly competitive job market calls for focusing talent management efforts on reskilling and skill upgrading, and leveraging the diverse talent pool that is capable, yet remains untapped due to dated talent acquisition/talent development models. The writing is on the wall – organizations today simply cannot afford to overlook the potential of and the need to be inclusive and diverse,” said Sandeep Ghai, senior director human capital at Optum Global Solutions. See also: <a href="https://www.businessinsider.in/india/news/womens-day-special-from-nirmala-sitharaman-to-priyanka-chopra-here-are-the-powerful-women-who-conquered-the-headlines/articleshow/74534023.cms">Women’s Day Special : From Nirmala Sitharaman to Priyanka Chopra here are the powerful women who conquered the headlines</a>

Here’s what Netflix, Uber and others are doing to bring more women onboard

<ul><li>Indian government’s <keyword id="2473582" type="PERSON" weightage="20" keywordseo="Skill-India-mission">Skill India mission</keyword> has helped nearly 1.5 million people get job placements across the country. </li><li>This is 21% of the 7.2 million people trained in total. </li><li>Candidates from the states of Telangana, Haryana, Punjab and Andhra Pradesh received maximum job placements. </li></ul>As many as 1.5 million people gained skills and jobs too, all due to the country’s Skill India mission. Yet, this number accounts to only 21% of the total trainees — 7.2 million — who enrolled for the programme. The scheme earned jobs to a large chunk of candidates from the states of Telangana, Haryana, Punjab and Andhra Pradesh, BusinessLine <a href="https://www.thehindubusinessline.com/economy/skill-india-72-lakh-trained-15-lakh-got-jobs/article28762048.ece">reported</a>. Uttar Pradesh produced over a million skilled candidates, but only a mere 20% of them were placed. <table style="border-width: initial; border-style: none; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">States </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Employment rate of trained candidates </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Telangana </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">29% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Haryana </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Punjab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Andhra Pradesh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Maharashtra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Uttar Pradesh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">20% </td></tr></tbody></table>Source: BusinessLine The <keyword id="2802809" type="PERSON" weightage="20" keywordseo="Pradhan-Mantri-Kaushal-Vikas-Yojana">Pradhan Mantri Kaushal Vikas Yojana</keyword> (PMKVY) is yet another scheme which aims to impart employability skills. The PMKVY 2.0 — which targets to train 10 million people by 2020 — has placed over 1.2 million candidates so far. Within a year of its inception, the scheme enrolled two million people. Of this, over 260,000 people got employment opportunities. The government presently has over 5.2 million candidates registered with the scheme. Rozgar Melas In a recent session in the Parliament, the Union Minister, <keyword id="2627353" type="PERSON" weightage="20" keywordseo="Mahendra-Nath-Pandey">Mahendra Nath Pandey</keyword> said that the government needs to ensure ‘rozgar melas’ for certified candidates every six months to generate employment, BusinessLine reported. In the recent Budget session, the government announced that it will also ensure industry relevant skill training for 10 million youth in India. The focus will be on building skills in technologies like — Artificial Intelligence, Big Data, Virtual Reality, 3D printing and Robotics — to promote higher remuneration. Corporates team up for skills Indian corporates are also taking up training programme, as a part of corporate social responsibility projects. Video platform <a href="https://economictimes.indiatimes.com/tech/internet/tiktok-partners-with-national-skill-development-corporation/articleshow/70226302.cms">Tik Tok</a>, on World Youth Skill Day 2019 said that it will educate its first-time internet users in India. In July, <keyword id="6370971" type="COMPANY" weightage="20" keywordseo="accenture">Accenture</keyword>, Cisco and Quest Alliance joined hands with the government to impart digital skill training to nearly 1.5 million youth across the country. UrbanClap aims to <a href="https://www.businesstoday.in/current/corporate/urbanclap-joins-modi-govt-skill-india-mission-train-30000-professionals/story/364467.html">train 30,000 service professionals</a> jointly with the National Skill Development Corporation (NSDC). The startup claimed that it will create micro-entrepreneurship opportunities for certified candidates. See also: <a href="https://www.businessinsider.in/nasscom-survey-shows-54-percent-indian-workforce-needs-reskilling-27-lakh-digital-jobs-to-be-available-by-2023/articleshow/70271689.cms">India will need 2.7 million digitally-skilled people by 2023 across sectors, not just in IT</a> <a href="https://www.businessinsider.in/hdfc-hiring-5000-professionals-with-annual-package-of-400000-includes-training-program/articleshow/70083666.cms">HDFC Bank to create 5,000 ‘future bankers’ with a digital training programme</a> <a href="https://www.businessinsider.in/hcl-technologies-is-hiring-10000-freshers-including-class-12th-passouts/articleshow/69971601.cms">HCL Technologies is hiring 10,000 freshers — including highschool passouts</a>

You Searched For "Accenture earnings" and got 9 results

TCS, Infosys, HCL Tech and Wipro are riding on Accenture's high

Prabhjote Gill

TCS, HCL Tech, Infosys, and other IT stocks rally led by Accenture’s outsourcing strength

Prabhjote Gill

Accenture, Cognizant could see revenue growth but a strong US dollar could spoil the party

Bhakti Makwana

Infosys may show faster growth than TCS in the Dec quarter, say analysts

Bhakti Makwana

Wealthy millennials are set to drive the post-pandemic travel boom, survey finds

Hillary Hoffower

Indian men earn 67% more than women, says Accenture survey

BI India Bureau

PE recruiting on pause — Wells CEO's history of hiring — Accenture's outlook

Dan DeFrancesco

Here’s what Netflix, Uber and others are doing to bring more women onboard

Prerna

Preeti

Only one in five people trained under government's Skill India Mission found jobs

Prerna Sindwani

Popular Keywords

Buying Guides