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Can Mohit Joshi catapult Tech Mahindra into the big league of Indian IT?
Livemint
Ā·
1y ago
Medial
Mohit Joshi, the CEO of Tech Mahindra, has outlined his plans to transform the company into one of Indiaās top IT services providers. The plan includes strategies to improve margins, optimize costs, and expand the companyās business beyond its core telecom domain. The company has been facing challenges, with a decline in net profit and revenue in recent years. Joshi aims to achieve 15% growth in operating profit and higher revenue over the next three years. The market has responded positively to the revamp plan, with an increase in 'buy' calls on the stock.
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Fatter pay checks coming for Tech Mahindra employees as co rolls out increments
Livemint
Ā·
6m ago
Medial
Tech Mahindra has implemented company-wide salary increases from January 2025 under CEO Mohit Joshi to retain employees amidst stagnating wages. After a pause of 18 months, senior executives received hikes, with the average being 7% and top performers getting 12%. This move comes as Indian IT companies like Infosys and HCL Technologies also revise salaries. Tech Mahindra aims to improve its operating margins to 15% by 2027 through Project Fortius.
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11 leadership changes in 15 months: TechM CEOās dream team remains elusive
Livemint
Ā·
2m ago
Medial
Tech Mahindra is experiencing significant leadership shake-ups under CEO Mohit Joshi, who assumed his role 18 months ago. Seeking to form a stable leadership team, Joshi has made 11 leadership changes within 15 months and implemented several reassignments among leaders. Despite these efforts, consistent stability in Tech Mahindraās leadership remains elusive, signaling ongoing challenges in aligning leadership roles effectively.
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After Cognizant, Tech Mahindra goes after former Infosys top talent
Livemint
Ā·
10m ago
Medial
- A dozen former executives of Infosys have joined Tech Mahindra since March 2023, with three joining directly from Infosys and nine with prior experience at other companies. - Similarly, Nasdaq-listed Cognizant has experienced a similar exodus of executives from Infosys, with at least 10 joining after Ravi Kumar S. became CEO of Cognizant in January 2023. - Infosys reported its slowest growth since Salil Parekh became CEO in January 2018, with a full-year revenue growth of 1.9% to $18.6 billion for the year ended March 2024. - Tech Mahindra's revenue declined by 5% to end with $6.3 billion in FY24, while Cognizant saw a revenue slip of 0.39% to $19.4 billion in 2023. - The exodus can be attributed to the credentials and relationships built by the former Infosys executives, as well as the attractiveness of the leadership acumen of Ravi Kumar and Mohit Joshi. - The applicability of non-compete clauses in the IT services industry is still a work in progress, and organizations are taking steps to implement and enforce them.
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Tech Mahindra to merge US-based subsidy Born with parent Tech Mahindra (Americas)
Livemint
Ā·
1y ago
Medial
Indian IT services and consultation firm Tech Mahindra has announced the merger of its subsidiary, Born Group, with its parent company, Tech Mahindra (Americas). The move aims to streamline operations, reduce costs, and mitigate compliance risks. Born Group specializes in brand strategy and design, while Tech Mahindra (Americas) provides computer consulting and IT management services. The merger does not involve cash consideration or issuance of new shares and will not affect the shareholding pattern. The merger is subject to regulatory approvals and is set to take effect on April 1, 2024.
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Coforge, TechM, Infosys, TCS: Morgan Stanley cuts targets for IT stocks amid risks to valuation multiples
Business Today
Ā·
5m ago
Medial
Morgan Stanley has downgraded target prices for several Indian IT stocks due to valuation risks. Key reductions include Coforge to Rs 9,400, TCS to Rs 3,950, Infosys to Rs 1,740, and Tech Mahindra to Rs 1,550. It prefers Tata Consultancy Services over Infosys and Tech Mahindra over HCL Technologies in the large-cap sector. Wipro received an 'underweight' rating. Morgan Stanley's dollar revenue growth forecasts are 4.5% for F26 and 6% for F27.
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Saudi Arabia eyes stake in $30 bln Indian Premier League
Reuters
Ā·
1y ago
Medial
Saudi Arabia is reportedly interested in purchasing a stake worth billions of dollars in the Indian Premier League (IPL), the world's wealthiest cricket league. During Crown Prince Mohammed bin Salman's visit to India in September, discussions were held with Indian authorities about moving the IPL to a holding company valued at up to $30 billion. The Kingdom offered to invest around $5 billion in the league and assist in its expansion into other nations. The Board of Control for Cricket in India has not yet commented on the matter.
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M&M stock rises on signing Adani Total Energies to set up EV charging stations
Livemint
Ā·
1y ago
Medial
Mahindra & Mahindra has entered into a deal with Adani. Livemint has become the fastest growing news website globally. Users can now enjoy various benefits on the platform, including newsletters, real-time stock tracking, breaking news, and personalized newsfeed.
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Can Indiaās midsize IT outsourcers unseat the Big Five?
Livemint
Ā·
19d ago
Medial
India's midsize IT firms like Coforge, Mphasis, Persistent, and Firstsource are overtaking larger counterparts by leveraging agility and AI-focus. Unlike the Big FiveāTata Consultancy Services, Infosys, HCL Technologies, Wipro, and Tech Mahindraāmidsize companies are unencumbered by legacy systems, facilitating faster adaptation and client acquisition. This shift allows them to outpace industry giants in growth, challenging their traditional dominance in the market by positioning themselves for sustained success.
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Anand Mahindra-founded Tech Mahindra appoints Atul Soneja as its Chief Operating Officer (COO)
IndianStartupNews
Ā·
2y ago
Medial
Anand Mahindra-founded Tech Mahindra, which provides digital transformation, consulting, and business re-engineering services and solutions, today said it hasd appointed Atul Soneja as its Chief Operating Officer (COO), the former COO of CitiusTech.
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Wipro appoints Malay Joshi as CEO of its largest market Americas 1
Livemint
Ā·
1y ago
Medial
Wipro Ltd has appointed Malay Joshi as the CEO of its Americas 1 market unit, the company's largest and fastest-growing market. Joshi, who has been with Wipro for almost three decades, will succeed Srinivas Pallia. He will also join the Wipro executive board. The Americas 1 market unit contributed 31% of Wipro's third-quarter revenue. Wipro is the only Indian IT company among the top four expected to end the year with a revenue decline.
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