Software Financial News

Subscribe to enjoy similar stories. India’s largest IT services companies are divided when it comes to selling their AI solutions. Infosys Ltd and Tech Mahindra Ltd are building their own small AI models to help clients save costs, while Tata Consultancy Services Ltd, Wipro Ltd and HCL Technologies Ltd want to build on foundational AI tools that are already present in the market.

Gartner.

Newgen Software Technologies slid by 17% to an intraday low of Rs 1294.6 on the BSE despite posting healthy Q3 numbers. The company’s profit after tax (PAT) stood at Rs 89 crore during the third quarter ended December 2024, which was up 30% YoY compared to Rs 68 crore in Q3FY24. Further, the revenue from operations witnessed a growth of 18% YoY, reaching Rs 381 crore.

Mercedes-Benz getting the nod for its cars to cruise at more than 90 kms per hour behind a leading vehicle in completely autonomous mode on German motorways, Katrin Lehmann, global chief information officer notes that this would not have been possible without the contribution of its Indian engineers in developing artificial intelligence (AI) technologies.

Subscribe to enjoy similar stories. Bengaluru: Shorter deal tenures, more frequent renewals—that is the scenario India’s top software services companies are likely to face going forward. Independent experts said the shorter tenures are a result of economic uncertainty in advanced markets and the fast-changing nature of modern technologies, and could pose challenges to the IT services companies.

BFSI) and rupee depreciation in a seasonally weak third quarter (Q3) of the financial year has brightened prospects for India's $254 billion outsourcing industry. This, along with growing momentum for artificial intelligence (AI) adoption across enterprises, has put growth in core markets on track for 2025. Top six software service providers, reporting earnings over the past two weeks, have witnessed revival in the key regions and business verticals of North America and BFSI, with at least three companies — Infosys, HCLTech and Wipro — upgrading guidance, although manufacturing continues to be soft in Europe. «The December 2024 quarter earnings of major Indian service providers — Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro and TechM — indicated signs of recovery, though the current growth and margins performance was tepid,» said Prashant Shukla, vice president at Everest Group.

Subscribe to enjoy similar stories. Microsoft and Google can translate, say, Spanish to English, but who can translate finance speak? Up-and-coming compliance software firms are leaning into artificial intelligence to help crack esoteric trader argot, as Wall Street and London watchdogs increasingly dive into traders’ jargon-loaded and even coded messages to help fight financial crime.

Subscribe to enjoy similar stories. Infosys Ltd investors are edgy and hardly impressed by the positives of its December quarter (Q3FY25) results. Sequential constant currency (CC) revenue grew by 1.7% in a seasonally weak quarter, beating consensus estimate of 0.8%.

U.S. defense contractor Anduril Industries is preparing to build a massive advanced manufacturing facility in central Ohio

Subscribe to enjoy similar stories. Midcap IT firm L&T Technology Services Ltd (LTTS) surprised the Street with solid deal wins and margin expansion in the December quarter (Q3FY25). Investors cheered, taking the shares up about 8% on Thursday.

hybrid work model has gained immense prominence over the last few years, redefining the way organizations and employees operate. Due to its ability to offer flexibility, enhance employee satisfaction, and improve work-life balance, it has become a popular choice for businesses across industries. While many organizations report increased productivity with this model, employees appreciate the opportunity to achieve healthier work-life balance.

AI coder as part of its AI programming tool named Tongyi Lingma which claims to build applications «in minutes’, reported South China Morning Post.

IT services firm, HCLTech, is changing its strategic direction towards evolving GenAI-led transformation as client demand is seeing an uptick, chief executive and managing director C Vijayakumar told ET.

Subscribe to enjoy similar stories. HCL Technologies Ltd faced the Street’s wrath following its December quarter (Q3FY25) earnings, which had nasty surprises. Ahead of the Q3 announcement, HCL stock hit a new 52-week high of ₹2,012 on Monday, but it tanked around 8% on Tuesday.

HCL Technologies shares will remain in focus on Tuesday, January 14, after the IT services company reported 6% growth in its consolidated net profit at Rs 4,591 crore for the quarter ended December 2024. The same stood at Rs 4,350 crore a year ago. Revenue from operations in the third quarter rose 5% to Rs 29,890 crore, compared with Rs 28,446 crore in the same quarter of last year.

Subscribe to enjoy similar stories. Businesses are starting to link their artificial intelligence initiatives with paring back hiring plans, or so-called cost avoidance, in an effort to justify investing in the technology. Questions have loomed over whether AI can generate returns for businesses, leading corporate technology leaders to search for ways to show its value.

Infosys is set to roll out its annual pay hikes from February, ushering in the New Year on a happy note for its employees. The country's second largest software exporter will hand out letters to employees falling at job level five (JL5) and below next month with the raise effective retrospectively from January 1. Those at JL6 and above will receive their letter in March with the hike taking effect from April, a senior company executive told employees at an Infosys Validation Services unit (IVS unit) town hall on Friday, people briefed on the subject told ET.