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<ul><li>The second quarter has always been a historically strong quarter, but Q2 FY24 is expected to be soft.</li><li>The demand picture is still weak and for most sectors, the slowdown has not bottomed out.</li><li>Vendor consolidation has led to a few large deal wins by the Big 3, but conversion to revenues will be slow.</li><li>Margin expansion will also be tough with a stable Rupee and cost levers yet to kick in. </li></ul>Little has changed for the Indian <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword> in the last three months. The second quarter earnings are expected to be as muted as the quarter before. IT sector clients are continuing with their budget squeezes, cuts in discretionary spending that’s bringing in less into the companies’ revenue kitty. Top-tier IT companies are expected to see a 0.8% fall in constant currency revenues to a tad over 1% growth on a quarter-on-quarter basis. At the highest end of the most optimistic expectations is a 1.3% growth. On a year-on-year basis too, most see lower single digit growth or a fall – showing that the fear of recession has taken over the market. Most analysts expect <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> to retain its FY24 revenue growth, guidance of 1-3.5%. <keyword id="141968" type="General" weightage="20" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword> is widely expected to cut its 6-8% growth projections. Most others are expected to veer towards the lower end of the guidance as the first half remains muted. Where is the budget flush? The much awaited budget flush that could have changed the fortunes of the sector is still evasive. “The second quarter of FY24 is likely to be incrementally better than the first quarter. But nowhere close to what most players envisaged at year-beginning. Hopes of finding a bottom in the first half has not materialised, we believe, as project ramp downs/cancellations continue,” says a report by J M Financial. The second quarter has always been a historically strong quarter. And, this theory is all set to change. “Most of the demand indicators are trailing 10-15% below levels at the beginning of the year and only slightly better than the July lows,” said HDFC Securities. Across sectors, budget cuts have played out differently. For the key BFSI sector, spend cuts have bottomed out. The recovery however is gradual and may not be visible before FY25, says HSBC. Telecom sector which was one of the worst affected, along with high-tech and retail, could also bottom out in the second quarter. “We think the spending cuts have been unsustainably aggressive. Hi-tech demand has already started to improve from 2Q. Further, verticals like O&amp;G and manufacturing continue to do well,” says HSBC, which believes that Q2 will see a slight positive growth. It however does not see any major budget flush or V-shaped recovery. Expected change in Constant Currency Revenues (QoQ) <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;">Kotak </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;">J M Financial </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;">IIFL Securities </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;">0.5% </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><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;">1.2% </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;">0.6% </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><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;">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;">-0.6% </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;">0.8% </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;">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;">0.8% </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;">0.8% </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;">1.1% </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;">TechM </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% </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><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></tbody><tbody></tbody><tbody></tbody></table>Source: Research reports Big deals, slow conversion Budget squeezes led to consolidation, with IT clients going in for mega deals. All the big three made top deal announcements in Q2. Infosys bagged a EUR1.5 billion deal from Liberty Global, in addition to a $454 million deal from Danske Bank. <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> bagged a £800 million deal from Jaguar Land Rover. It also won a NEST € 810 million deal from NEST. HCL Tech also won a $2.1 billion deal from Verizon. “We believe deal flow has steadied after the transition from discretionary spending-powered short-tenured programs to larger programs fueled by cost take-outs, which have longer sales cycles,” said Kotak Institutional Equities. These kinds of deal wins are expected to continue and grow through the financial year, as discretionary spending. “While most IT services firms saw a further moderation in year-on-year revenue growth in the June quarter, deal wins accelerated. Since then, the large and mega deal win momentum has quickened, giving us confidence in strong growth for FY25,” said BNP Paribas. Large deals, however, are spread across five years, and tend to convert slowly into revenues. “Barring re-badging deals, ramp-up and hence revenue conversion of mega deals tend to be long drawn,” says J M Financial. The most watched metric for the IT sector this season would be Total Contract Value-to-revenue conversion pace. The others would be the extent of compression in the existing book of business, and greater-than-normal furloughs, says a report by Nirmal Bang. Rupee, salaries &amp; margins One advantage of a soft macroeconomic environment is Rupee depreciation that adds to the margins of IT companies. Rupee depreciated only by 1% on a quarter-on-quarter basis, adding little to the sectoral margins. “This slowdown is different. Indian Rupee is relatively stable and Covid-19-led cost rationalisation is still unwinding like travel costs and onshore mix,” says HSBC Global Research. Margin management is also expected to be tough going forward as the operating environment has turned hard. Unplanned benching due to sudden ramp-downs, shift in revenue mix towards cost-takeout deals and lower growth will add to the pain on the profitability end. Kotak also expects a marginal decline in the EBIT margin on year-on-year comparison, except TechM where the decline will be sharp. Increase in costs such as travel and back-to-office expenses will hurt. “Cost levers are yet to fully kick in,” the research firm adds. On the other hand, net hiring has been all but flat for most IT sector companies. Moreso, Infosys, HCL Tech and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> have all delayed wage hikes which can help, along with other cost rationalization programmes. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

Earnings preview: Q2 to be another washout quarter for IT sector, market to focus on execution

<ul><li>IT major <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is planning to eliminate 400 senior executives in a staggered manner, according to a TOI report. </li><li>This includes directors, vice presidents, senior directors, Associate vice president and other mid and senior management roles. </li><li>Recently, Cognizant reportedly offered the <keyword id="9296445" type="UNKNOWN" weightage="20" keywordseo="bench-employees">bench employees</keyword> in the US — who are not presently working for any client — a <keyword id="4856777" type="PERSON" weightage="20" keywordseo="voluntary-separation-package">voluntary separation package</keyword>. </li><li>The company says that the realignment move is aimed at improving the cost structure and effectiveness of the business.</li></ul>In April, American IT multinational Cognizant bumped up wages by 25% for almost two-third of the workforce in India as a ‘sign of gratitude.’ A month later, the IT major is now planning to eliminate 400 senior executives in a staggered manner, <a href="https://timesofindia.indiatimes.com/business/india-business/cognizant-will-ask-400-more-executives-to-leave/articleshow/76023186.cms">according to</a> a TOI report. This includes directors, vice presidents, senior directors, associate vice president and other mid and senior management roles. “In a people-intensive business like ours, effectively managing our workforce is a key element of aligning our cost structure with revenue. We have 290,000 employees serving clients worldwide. Like all services firms, we routinely manage supply and demand with a bench of unutilised employees. What distinguishes us is that we are enhancing our bench policy by offering additional cash and extended health benefits to those who are or will become unutilised and for whom we unfortunately do not foresee future opportunities,” Cognizant spokesperson <a href="https://timesofindia.indiatimes.com/business/india-business/cognizant-will-ask-400-more-executives-to-leave/articleshow/76023186.cms">told</a> the Times of India. This comes in the backdrop of the latest announcement for Cognizant’s employees in the US. Cognizant reportedly offered bench employees — who are not presently working for any client — a voluntary separation package. "As the term 'voluntary' suggests, employees have an option of taking it. The offer has been made largely to US employees as they are on high payrolls and includes cash and health benefits like long term insurance policies, etc. Complete salary of two months is being offered in the package. For now, the offer has only been made to US-based employees on bench. The company may look at extending that to other employees in onsite (international) locations," CNBC <a href="https://www.cnbctv18.com/information-technology/cognizant-offers-voluntary-separation-package-to-select-us-employees-6007491.htm">reported</a> citing sources. However, this is not new to the company. In 2018 too, the company introduced a <a href="https://www.businessinsider.in/cognizant-begins-voluntary-separation-program-for-senior-staff-report/articleshow/69515809.cms">voluntary separation scheme</a> for senior executives where it offered 12-month salary and stock benefits depending on the employee’s tenure in the organisation. The company says that the realignment move is aimed at improving the cost structure and effectiveness of the business. In fact, the severance pay is also reduced to three months instead of five months, along with one week pay for all the years of service. In 2019, Cognizant paid $22 million dollars to the senior executives who were asked to leave — apart from the $147 million dollars incurred in employee retention, realignment etc. “We think these changes are causing a mix of wanted and unwanted attrition at senior levels of Cognizant. Wanted attrition has occurred in cases where the staff was not sufficiently performing or serving as ideal role models for the rest of the organization. Essentially, we think some senior-level attrition has been needed to push Cognizant toward a performance-oriented culture, pivot Cognizant’s skills toward digital, and better optimize its cost structure,” <a href="https://timesofindia.indiatimes.com/business/india-business/cognizant-will-ask-400-more-executives-to-leave/articleshow/76023186.cms">said</a> Rod Bourgeois of US-based Deepdive Equity Research. However, the company is bullish on <a href="https://www.businessinsider.in/business/news/cognizant-q1-net-falls-16-7-pc-to-usd-367-mn-sees-challenging-demand-environment-in-2020/articleshow/75616476.cms">hiring digitally skilled freshers</a> this year. Announcing the March quarter results, CEO <keyword id="3928377" type="PERSON" weightage="20" keywordseo="Brian-Humphries">Brian Humphries</keyword> said that the company will hire for 20,000 entry-level positions. See also: <a href="https://www.businessinsider.in/tech/enterprise/news/three-ways-tcs-infosys-and-other-it-giants-in-india-are-trying-to-cut-costs-but-its-not-going-to-increase-their-profitability/articleshow/76021884.cms">Three ways TCS, Infosys and other IT giants in India are trying to cut costs — but it’s not going to increase their profitability</a> <a href="https://www.businessinsider.in/education/news/heres-how-tcs-and-merittrac-solutions-aim-to-stop-candidates-from-cheating-during-online-exams/articleshow/76022519.cms">Here’s how TCS and MeritTrac solutions aim to stop candidates from cheating during online exams</a>

Cognizant is reportedly planning to sack 400 in senior management — severance pay reduced to three months

Vishal Sikka of Infosys revealed his future game plan, stressing on automation and reducing its bench. 
 
Sikka said the company will aggressively work towards automation across top customer projects and reduce its bench. 
 
Sikka wants to make Infosys a $20 billion company by 2020 and is going to focus on driverless cars and automated driving. 
 
"We see now digital connectivity, we see now computing making its way into places where they were never before -- so if you look at some places where we inhabit, cars for example, assistive driving, driverless car infrastructure has become quite commonplace...assistive driving capabilities are there in every car now...we do a lot of this work, we do a lot of this work in our own driving and automation of the driving experience for companies like Toyota and Boeing and so forth," said Sikka. 
 
Meanwhile, Infosys is presently working on projects in areas including industrial internet and also on technology components of machines such as landing gears for airplanes that GE builds. 
 
"What we can think of services that can transcend space and time constraints. One example of this is the work we have done with GE -- the landing gear traditionally used to have four sensors and the landing gear is an incredibly important part of an airplane..these systems need to have 100% reliability otherwise people die. We have recently together with GE instrumented these landing gears around 30 additional sensors..we can basically do everything that we can think of on the digital twin of the landing gear. All its operational behaviour, its operational parameters, its health, predicting its useful remaining life and how it intersects with the number of remaining flights planned, things like that," explained Sikka. 
 
Infosys also plans to up revenue productivity over the next four years to about $80,000 per employee, from current levels of $50,000 per employee. 
 
Sikka also wishes to its bench through the Zero Bench initiative that the company has put in place internally, Sikka said. 
 
"81% utilization means 9000 people are sitting on the bench. This is more than the number of application developers I had at SAP..that's also more than the number of engineers at Facebook. So, I said, unless you guys are building a Facebook, this is a colossal waste of human potential," said Sikka.

Infosys’ Vishal Sikka reveals future plans, will aggressively increase automation, reduce people

<keyword id="6369763" type="PERSON" weightage="100" keywordseo="Vishal-Sikka">Vishal Sikka</keyword>, the chief executive officer of India's second largest software exporter <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> has given a glimpse of futuristic bets that the company is making in areas such as virtual reality. He also said that the tech giant company would now adopt more aggressive strategies in deploying <keyword id="24019" type="PERSON" weightage="100" keywordseo="automation">automation</keyword> across top customer projects, and would reduce its bench to make better use of existing resources. 
 
"We had these virtual reality equipment from Oculus -- virtual reality gives a tremendous opportunity to reimagine the physical world. Already the virtual reality glasses are close to the precision and resolution of the physical world around us, so it is actually possible to create a replica of walking around in Burberry, Regent Street store or in the Macy's Union Street store and do your purchases without leaving your homes," said Sikka. 
 
He has earlier said that he wants Infosys to be a $20 billion company by 2020. Sikka also talked to ET about the futuristic work that Infosys is doing with Toyota Motor Corp in making driverless cars and automated driving. 
 
"We see now digital connectivity, we see now computing making its way into places where they were never before -- so if you look at some places where we inhabit, cars for example, assistive driving, driverless car infrastructure has become quite commonplace...assistive driving capabilities are there in every car now...we do a lot of this work, we do a lot of this work in our own driving and automation of the driving experience for companies like Toyota and Boeing and so forth," Sikka said. He was speaking at the Kotak "Chasing Growth" conference in Mumbai. 
 
For its other long-time outsourcing customers like GE, Infosys is working on projects in diverse areas like industrial internet and technology components of machines such as landing gears for airplanes that GE builds. 
 
"What we can think of services that can transcend space and time constraints. One example of this is the work we have done with GE -- the landing gear traditionally used to have four sensors and the landing gear is an incredibly important part of an airplane..these systems need to have 100% reliability otherwise people die. We have recently together with GE instrumented these landing gears around 30 additional sensors..we can basically do everything that we can think of on the digital twin of the landing gear. All its operational behaviour, its operational parameters, its health, predicting its useful remaining life and how it intersects with the number of remaining flights planned, things like that," explained Sikka. 
 
He spoke about the inevitability of automation, and the impact it would have on jobs. "The shift to automation is inevitable. There is no doubt that it will happen, there's no doubt that it is already happening. It is not to make the horses run faster and faster or to feed them better or to give them better scheduling -- it is to turn the horse-cart into an automobile," he added. 
 
<a href="https://www.infosys.com/SiteCollectionImages/responsive/media/vishal-sikka.jpg">Image source</a>

Vishal Sikka talks about futuristic bets on virtual reality, reduced bench and inevitable automation

<ul><li>The government on Wednesday clarified alcohol-based <keyword id="1799844" type="PERSON" weightage="20" keywordseo="hand-sanitisers">hand sanitisers</keyword> will continue to be levied at the standard rate of 18 per cent as the product is a disinfectant like soaps and not a medicament.</li><li>There had been a demand from certain sections of the industry, particularly liquor and sugar sectors, to classify <keyword id="1015112" type="PERSON" weightage="20" keywordseo="sanitisers">sanitisers</keyword> in the medicament category attracting lower 12 per cent duty.</li><li>Earlier, the Goa bench of the GST Authority for Advance Ruling (AAR) also held that the alcohol-based hygiene products will attract 18 per cent GST</li></ul> Amid the ongoing debate over goods and services tax (GST) rate on hand sanitisers, the government on Wednesday clarified alcohol-based hand sanitisers will continue to be levied at the standard rate of 18 per cent as the product is a disinfectant like soaps and not a medicament. With the Consumer Affairs Ministry having classified hand sanitisers as essential commodities in wake of Covid-19 <keyword id="43587" type="ORGANIZATION" weightage="20" keywordseo="pandemic">pandemic</keyword>, there had been a demand from certain sections of the industry, particularly liquor and sugar sectors, to classify sanitisers in the medicament category attracting lower 12 per cent duty. "It is stated that hand sanitisers attract GST at the rate of 18 per cent. Sanitisers are disinfectants like soaps, anti-bacterial liquids, Dettol etc, all of which attract duty at the standard rate of 18 per cent under the GST regime," a Finance Ministry statement said. "It is further clarified that inputs for manufacture of hand sanitisers are chemicals, packing material, input services, which also attracts a GST rate of 18 per cent. Reducing the GST rate on sanitisers and other similar items would lead to an inverted duty structure and put the domestic manufacturers at disadvantage vis-a-vis importers," the statement added. Earlier, the Goa bench of the GST Authority for Advance Ruling (AAR) also held that the alcohol-based hygiene products will attract 18 per cent GST. It added that its classification as an essential commodity cannot be a criteria for exemption from GST. The order came on a petition from Springfields (India) Distilleries over classification of the hand sanitiser and the applicable rate of GST. The clarity has also come in wave of reports of large-scale tax evasion reported by the Central Economic Intelligence Bureau (CEIB) with certain new manufacturers of sanitisers paying 12 per cent GST due to the wrong classification instead of the actual 18 per cent. In fact, the CEIB, which comes under the Department of Revenue, in a recent communication to the Directorate General of GST Intelligence, has said that some manufacturers of alcohol-based hand sanitisers are resorting to "non-payment" or "evasion" of CGST and SGST by paying 12 per cent GST due to the wrong classification instead of the actual 18 per cent. Following the letter from the CEIB and the directive for immediate action, the Directorate General of GST Intelligence has prepared a list of 62 manufacturers and suppliers of the alcohol-based hand sanitisers and analysed them. The Finance Ministry said that lower GST rates help imports by making them cheaper, and this is against the nation's policy on <keyword id="9210236" type="PERSON" weightage="20" keywordseo="Aatmanirbhar-Bharat">Aatmanirbhar Bharat</keyword>. Consumers would also eventually not benefit from the lower GST rate if domestic manufacturing suffers on account of inverted duty structure, it said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/google-picks-up-a-7-7-stake-in-mukesh-ambani-jio-for-33737-crore/articleshow/76977043.cms">Google picks up a 7.7% stake for ₹33,737 crore in Reliance Jio</a> <a href="https://www.businessinsider.in/tech/news/jio-glass-akash-ambani-and-isha-ambani-announce-reliances-latest-product-which-offers-holographic-video-calls/articleshow/76977640.cms">Jio Glass – Akash Ambani and Isha Ambani announce Reliance’s latest product which offers holographic video calls</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-16-increase-leads-to-surge-in-infosys-share-price-too/articleshow/76973619.cms">Wipro share price 16% increase leads to surge in Infosys share price too</a>

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Earnings preview: Q2 to be another washout quarter for IT sector, market to focus on execution

Katya Naidu

Cognizant is reportedly planning to sack 400 in senior management — severance pay reduced to three months

Prerna Sindwani

Infosys’ Vishal Sikka reveals future plans, will aggressively increase automation, reduce people

BI India Bureau

Vishal Sikka talks about futuristic bets on virtual reality, reduced bench and inevitable automation

BI India Bureau

Hand sanitisers soaps will attract 18% GST

IANS

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