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Et news

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  • 1. ET NEWS
    SUBMITTED BY:
    NEHA SINGLA
  • 2. HCL Infosystems appoints Harsh Chitale as CEO
    IT company HCL Information systems has appointed as Chief Executive Officer of the company.
    Harsh would take over the position from Ajay Chowdhry, who would continue to be the Chairman, HCL Info systems said in a filing to the Bombay Stock Exchange
    HCL Info systems over the past few years has also been expanding with the growing presence across emerging markets and strong skilled workforce of close to 7,000 people, the filing added.
  • 3. HCL CEO VineetNayar wants to put humans back in business
    VineetNayar, chief executive of fast-growing Indian firm HCL Technologies is explaining the management philosophy that led him to write the book "Employees First, Customers Second", which subverted the corporate dogma of the last decade by arguing that unhappy staff are of no us
    to customers.
    He reckons that style of thinking helped him to turn HCL around when the company began to stagnate five years ago.
    Nayaris experimenting with new ways to motivate a young workforce that has very different expectations from his own generation.
    Fifty percent of the world population is less than 25 years old.
  • 4. HCL is about to start funding projects of employees who have bright ideas and can attract their colleagues to join them.
    It also offered an average 15 percent pay rise to its 65,000 staff this summer, better than most of its peers in a slowing market.
    Nayar does not believe money is the primary motivation for most of its employees.
    The IT sector, one of India's biggest employers, has seen firms scramble for skilled employees.
    HCL lost 16 percent of its staff last year and is among the lowest in the industry. Nayar gathers his ideas from a wide variety of sources, and uses the example of religion to illustrate the complexity of motivating people
  • 5. Microsoft hopes to bury iPhone, Android
    The new software, which will be publicly unveiled on Oct. 11 and expected on handsets in stores by November, is Microsoft's last chance to catch up with Apple and Google Inc's Android smartphones, after squandering its strong market position in only a few years.
    A group of smartphone manufacturers including Samsung and HTC Corp are expected to roll out Microsoft-based phones for the holiday season.
    Right now, it isn't apparent that Windows 7 is better than anything that's out there except that it might have a better tie-in to the actual Windows platform.
    Microsoft Chief Executive Steve Ballmer missed a generation with Windows Mobile, its last phone operating system, which floundered while the iPhone and Android roared past with sumptuous touch screens and a host of new applications.
  • 6. Microsoft is now fourth in the fast-growing U.S. market for smartphone operating systems with a share of less than 12 percent.
    Microsoft's strange disappearance from the phone market, and its delayed response to the emergence of tablet devices like Apple's iPad, has been seen as a drag on Microsoft's shares, which are down 20 percent this year.
    Prototypes of the new devices, which have been demonstrated by Microsoft employees over the past few months look to be a huge improvement over the last version of Microsoft's phone software. They have a touch-screen interface resembling the company's Zune music player and movable 'tiles' that access various phone functions.
  • 7. Former Satyam Computers chairman Raju discharged from hospital
    B RamalingaRaju, former chairman of Satyam Computers and the prime accused in the Rs 14,000-crore accounting fraud, was discharged from hospital.
    NIMS gastroenterologist Ajit Kumar said his lever is functioning normally.
    Raju has cleared the hospital bill of approximately Rs 8 lakhyesterday. We gave him some instructions on sanitation and medication to follow
    Raju, who was granted bail by the Andhra Pradesh High Court in August had avoided appearing for court proceedings until he got bail.
    Soon after he was granted bail, the NIMS authorities said Raju still needed further treatment.
    CBI, which is investigating the multi-crore accounting scam of Satyam Computers, filed a petition in the Supreme Court seeking cancellation of bail to Raju and nine others.
    The apex court subsequently issued notice to Raju to file a reply before October 21.
  • 8. Smaller IT cos to see better margins by year-end
    Small and mid-cap IT companies may see margin pressures easing by the year-end on lower attrition rates as firms beef up campus placements, gradually reducing dependence on lateral hires.
    Mid-caps such as HexawareTechnologies, KPIT Cummins Infosystems, Zensar Technologies and MphasiS had resumed campus visits and have been building a pool of trained professionals.
    May be by the December quarter attrition should come down to a normalised level because their salary, general and administrative expenses should start getting normalised."
    Higher attrition rates in the sector have been prompting companies to increase workforce and entice existing employees with salary hikes.
    In June, Nasscomhad forecast that wages in the sector, which employs more than 2 million people, could rise 10-20 per cent in FY11.
    While the excessive hiring and higher paychecks have been squeezing the margins of mid-caps, the large-caps such as Tata Consultancy Services and Wipro Ltd have more or less been able to sustain margins due to bigger order books and higher demand.
  • 9. Anil Patwardhan, vice president, finance, KPIT Cummins expects the company's margins to improve in the second half of the year and firm up by the fourth quarter to 20 per cent.
    The company's margins dropped to 16.46 per cent in the first quarter.
    During the June quarter, the firm, which completed 70 per cent of annual hiring plan in the first half took about 430 people on board of which over 60 per cent were fresh candidates.
    All these freshers who have gone through their induction and training will be available for deployment of various projects has recorded an EBITDA margin of 6.8 per cent in the second quarter, expects margins to improve sequentially.
    The company has been adding about 150 employees through campus placements every quarter. Analyst SrishtiAnand expects attrition rates which had climbed to more than 25 per cent in the past two quarters, to ease to more acceptable levels of 18-19 per cent in a quarter or two.
  • 10. THANK YOU

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