IT
'Trump has cost us': After midterm losses, MAGA asks if it's over
MAGA supporters are reflecting on the recent midterm election losses and their implications for the movement. Many are questioning Trump's role in the party's electoral failures and expressing frustration with party leaders. The elections have raised concerns about the future direction of the MAGA movement, prompting some to call for a re-evaluation of its goals. Discontent over economic issues like living costs has contributed to this disillusionment among supporters.
US military says it fired on commercial vessel in Gulf of Oman after it attempted to breach blockade
U.S. Central Command disabled a ship flagged by St. Kitts after it attempted to leave Iranian waters. This action follows multiple warnings regarding naval movements in the region. Meanwhile, explosions were reported in the Strait of Hormuz, raising concerns about maritime safety. The Iranian military also announced that two tankers caught fire after hitting mines. Military tensions in the area have escalated following recent limited strikes by U.S. forces.
Qatar says its mediation efforts between US and Iran continue to prevent escalation
Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani emphasised ongoing mediation efforts between the US and Iran. He stated that Washington remains interested in finding a resolution after the midterm elections. Meanwhile, there are concerns about potential US strikes on Iranian targets if tensions escalate. Iran has proposed a seven-day plan to ease the blockade and improve relations, but it was rejected by Trump.
Wipro reappoints Angan Guha as head of Americas 2
The move comes after Suzanne Dann, the former CEO for Wipro’s Americas-2 Strategic Market Unit, stepped down in April to pursue opportunities outside Wipro, India’s fourth largest IT services company.
Infosys, Wipro, TCS and other IT stocks rise up to 3% as US AI rout deepens; is the bubble bursting?
In the wake of a worldwide AI stock decline, companies such as Infosys and TCS have seen their shares rise, demonstrating a contrasting trend. This downturn has sparked fears of impending regulations within the sector, prompting analysts to predict that Indian IT companies might leverage this moment to enhance their entrepreneurial AI ventures, all while experts caution against excessive financial commitments in the AI landscape.
AI gains fail to cool rising staff costs at Indian IT services firms
Although artificial intelligence (AI) and automation are changing the traditional labour-intensive model of IT services, they have yet to bring down employee costs for the country’s top six IT services companies—Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTM (formerly LTIMindtree).
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ECI restores DEC-level oversight of IT wing after 2 ECs raise concerns
The Election Commission of India issued a new work allocation order restoring oversight of the IT division. This change followed objections from two Election Commissioners regarding a prior order issued by senior Deputy Election Commissioner Maneesh Garg. Both Sukhbir Singh Sandhu and Vivek Joshi wrote to cabinet secretary TV Somanathan concerning Garg's unapproved directive.
Amagi, Shiprocket post profits; US polls’ impact on IT
Amagi’s Q2 profit surged nearly 30x while Shiprocket swung into the black for the first time. This and more in today’s ETtech Top 5.
What is 'One Last Order' about, when does it arrive on Netflix, and what happened to the woman whose story inspired it?
One Last Order is an upcoming Netflix documentary that features Sighle Williams during her retirement shift. Williams worked for 37 years at Mac’s Drive-Thru in Gainesville, where she became a beloved figure. As her retirement news spread, community members came to show their appreciation and celebrate her service. Directed by Lauren DeFilippo and Sam Soko, the documentary captures the emotional farewell. It will premiere on November last.
Which MF categories should you invest in this Diwali? Experts suggest funds for conservative, moderate & aggressive investors
As Diwali approaches, it's an ideal moment for investors to reassess their mutual fund strategies according to their risk appetite. Conservative investors might prioritize debt-oriented funds with a touch of equity for added safety. Those leaning towards moderate risk can benefit from hybrid funds that merge equity and debt for balanced growth. In contrast, aggressive investors may dive into diversified equity funds for maximizing wealth over the long haul.
Persistent raises Rs 7,600 crore to wrap up funding for Nagarro SE deal
Persistent Systems has made waves in the financial market by securing ₹7,600 crore through non-convertible debentures aimed at funding its acquisition of Nagarro SE. This bold move saw bonds varying from two to three years issued, with demand soaring above ₹15,000 crore, attracting top investors. Additionally, the company successfully raised ₹600 crore with a one-year commercial paper at an impressive 8.75%.
The US sees the end of its hegemony as distant; we see it as near: Ayatollah Mojtaba Khameini
Mojtaba Khamenei emphasised that US hostility towards Iran is unlikely to change with political shifts. He stated that Iran's response to US aggression would be more significant in the future. Khamenei believes that Iran’s actions against US bases signify a campaign against US dominance in the region. He asserted that the US perceives its hegemony as enduring, while Iran views its decline as imminent.
India’s IT sector needs a new talent architecture
Growing demand for AI-related services is challenging providers, as they struggle to generate significant revenue. Companies must redesign their workforce models to capture opportunities in an AI-driven market. Existing talent architectures focus on old skill sets and hierarchies, which are becoming less relevant. Investing in specialized roles and capabilities will better align with the new market demands.
IT firms turn to acquisitions to boost revenue growth
The contribution rose to $147-148 million in the July-September period, reflecting a full quarter of consolidation. The acquisition has therefore become a significant part of the firm’s reported revenue base.
Happiest Minds Q2 net up 15% to Rs 62 cr, revenue rises 12%
The net profit also included an impact of `3.98 crore, incurred towards the proposed merger with ITC Infotech in Q2 FY27. Revenue for the JulySeptember period stood at `645.4 crore, up 12.5 % YoY, while it gained 2.7% quarter-on-quarter. In constant currency terms, the topline grew 6.8% year-on-year.
Kannada activists visit Bengaluru firms, seek data on local hiring in private sector
Kannada Rakshana Vedike activists have begun visiting IT companies and large retailers in Bengaluru, seeking details of Kannadigas in their workforce, recruitment trends and local hiring initiatives. The month-long campaign has drawn criticism from sections of the industry, with entrepreneur TG Ramesh warning that such visits could create uncertainty for businesses.
Kannada groups defy CM DK Shivakumar’s request, visit IT firms demanding hiring data
The visits are part of Kannada Rakshana Vedike's Agraha Abhiyana, a campaign focused on local employment in the private sector. The visits defy Chief Minister DK Shivakumar’s request that pro-Kannada outfits must not take the law into their hands and create problems at IT companies.
Quant Mutual Fund reduces exposure to frontline IT stocks as part of profit-booking exercise
Quant Mutual Fund has strategically reduced its exposure to IT stocks and boosted its investments in FMCG sectors. This shift is due to disappointing earnings from key tech companies, leading to a cautious approach towards manufacturing amid ongoing supply chain issues. Nevertheless, the fund expresses confidence in India's investment potential amidst global market instabilities and has also introduced three new index funds for passive investors.
Kannada activists visit Bengaluru IT firms, seek data on local hiring
Kannada activists are actively engaging with IT firms in Bengaluru regarding local employment statistics and hiring practices. They are gathering information about the number of Kannadigas employed and recruitment trends in these companies. The activist group plans to protest if companies refuse to share this requested information. Chief Minister DK Shivakumar has stated the government will investigate complaints about local hiring discrimination.
Sebi allows REITs, InvITs to tap overseas investors through depository receipts
Sebi has established frameworks allowing real estate investment trusts and infrastructure investment trusts to issue foreign currency denominated depository receipts. This initiative enables them to access capital from overseas markets through international exchanges in GIFT City. To issue depository receipts, unitholder approval will be required, with a majority supporting such moves. Certain restrictions and conditions will apply to participating trusts and existing unitholders.
NTT Data to nearly triple Mangaluru workforce to over 2,500 by 2027
The company entered Mangaluru through its acquisition of local cloud engineering company Niveus Solutions, and is looking to use the city as a base for developing specialised technology capabilities. Its focus areas include healthcare and life sciences, automotive, manufacturing, high technology, AI and data.
Sebi cuts cooling-off period for OFS by privately listed illiquid InvITs to 8 weeks
Sebi has announced a reduction in the cooling-off period for illiquid private listed InvITs. The previous cooling-off period was set at 12 weeks, which has now been changed to 8 weeks. This decision comes in response to feedback from market participants and aims to enhance the ease of doing business. Illiquid InvITs typically face challenges due to low trading volumes and large lot sizes.
Nifty’s comeback or a largecap trap? Anand James decodes breadth, IT and Swiggy
Anand James, Chief Market Strategist at Geojit Investments, says the recovery still looks like a narrow largecap-led bounce, even as the 18% surge in Nifty IT points to the early stages of a possible leadership cycle. He also assesses Swiggy’s rebound prospects and names his top stock ideas for the week.
L&T pushes IT and engineering arms to accelerate growth beyond 15%
Larsen and Toubro is focusing on raising revenue growth in its services arms, LTM and LTTS. Currently, these companies grow at about 10-11 percent per year, which needs to increase. The management highlighted the importance of scaling up their services and accessing new markets. The recent AI-led disruption may help achieve this growth by leveling the playing field among competitors.
CEO sees two employees laughing he asks the IT manager to have team log every task, a month later productivity is down to 29%
A viral post on X has drawn attention to workplace surveillance after an IT team was allegedly instructed to record every activity in 15-minute intervals. The employee claimed the new system led to 31% of the department's time being classified as administrative work, while other users shared their own experiences with strict time-tracking rules.
Nifty IT’s 18% rally may mark a durable leadership cycle; 35,000 next: LKP's Vatsal Bhuva
Nifty IT’s 18% October rally could signal a sustained leadership cycle, supported by improving momentum, a bullish RSI crossover and capital rotation from global AI stocks. Analyst Vatsal Bhuva sees the index targeting 35,000. He remains cautious on Swiggy, bullish on Acutaas Chemicals, and recommends buying Persistent Systems and Eternal based on positive technical setups.
It: Welcome to Derry Halloween surprise episode released: Where to watch the 30-minute special set centuries before Pennywise
HBO has surprised IT: Welcome to Derry fans with a 30-minute Halloween special titled A Story of Derry. The episode takes viewers hundreds of years before Pennywise, following three youngsters who encounter an ancient evil in the Western Wood. It also introduces Maturin and reveals the origins of the dagger feared by IT.
IT: Welcome to Derry Halloween special hints at season 2's dark secrets. Here's what we know
A Story of Derry, a Halloween special from HBO Max, premiered on October 31, 2026. This 30-minute episode showcases events set centuries before the original IT story. The show’s second season is in development, with filming anticipated to start in 2027. Executive producer Sarah Aubrey expressed enthusiasm about returning to Derry’s chilling world. New characters and a fresh portrayal of Pennywise are expected in the upcoming season.
AI could wipe out $200 billion of IT services work by 2030: BCG
BCG’s Sreyssha George says Indian IT firms will have to rethink how they price work, hire freshers and pay AI talent, as clients move from paying for headcount to paying for outcomes.
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