information technology

The escalating worldwide appetite for artificial intelligence (AI) and high-performance computing (HPC), coupled with a stabilizing demand for smartphones, personal computers, infrastructure, and unwavering growth in the automotive sector, positions the semiconductor industry for a transformative phase, asserts the latest research from IDC.

The MoC which was signed in July this year and will remain in force for five years intending to strengthen cooperation between India and Japan towards enhancement of semiconductor supply chain, recognising the importance of semiconductor for the advancement of industries and digital technologies.

The softness seen in Q1 should continue across the board with no meaningful signs of recovery or deterioration in Q2. Our IT Services coverage universe should report a median revenue growth of 1.5 per cent QoQ/5.7 per cent YoY in 2QFY24, the report said.

"At present, almost 80 per cent of our supplies to the digital ecosystem come from imports and only 8-10 per cent of our supply requirement comes from India. We want to make that 65-70 per cent in the next three years," the minister told journalists.

The Series A round was led by RTP Global while YourNest and Omidyar Network India, an investment firm focused on impact, also participated, along with Global Brain, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One and 9 Unicorns.

Large deal TCV for the quarter was at $2.3 billion, with net new of 56.1 per cent. Operating margin for the quarter was stable at 20.8 per cent. ROE improved 180 bps to 32.8 per cent. Attrition declined further to 17.3 per cent. FY24 revenue guidance revised to 1.0 per cent-3.5 per cent and operating margin guidance retained at 20 per cent-22 per cent.

The Board of Directors have declared an interim dividend of Rs 9 per equity share of Re1 each. In a regulatory filing, the company said it had posted a total revenue of Rs 59,381 crore (previous year Rs 52,758 crore) and a net profit of Rs 11,074 crore (Rs 9,478 crore).

"These are great times to increase the ties between corporates, government, academia and startups to help grow the innovation capabilities of our country and the innovation ecosystem capabilities in our country," Rajeev Chandrasekhar told the gathering. He said that in the past nine years, the country has come a long distance on empowering startups.

The government will continue to focus on modernising initiatives and their digital efforts for increased productivity, automation and other software-driven transformation, according to an IDC report. "For example, they are ensuring public sector institutions in India build mobile-first experiences for their citizens, especially for those who don't own a smartphone," the report noted.

According to data by Naukri JobSpeak, the real estate sector spearheaded non-technology industries, witnessing a 21 per cent upswing in recruitment compared to April 2022. This growth was primarily due to an increase in new residential and commercial property launches across metropolitan areas, which prompted hiring in key roles such as Tender Manager, Construction Engineer, and Civil Engineer.