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Leading IT firms, including HCL Tech, Wipro, TCS, Infosys and several others have either asked or are getting ready to ask their employees to get back to the routine of working from office.
While Tata Steel, NTPC, Bharti Airtel, HCL Tech, ICICI Bank, M&M and HDFC Bank followed IndusInd in losses, Asian Paints, UltraTech Cement, Bajaj Auto, HUL and Nestle India were among the gainers.
Shares of HCL Technologies dipped 3 per cent after the company's June 2021 quarter earnings failed to enthuse investors.
Shiv Nadar who co-founded India’s leading IT services firm HCL Technologies in 1975 has stepped down as the MD.
HCL Technologies' revenue grew 12.5 per cent to Rs 20,068 crore in the quarter under review, from Rs 17,841 crore in the corresponding period last year.
20 per cent of workforce to remain remote for next two years despite increasing vaccinations, says report
Several IT giants and tech start-ups have already announced plans towards a swifter adoption of the hybrid work model where employees will not be expected to attend offices.
HCL Technologies CEO C Vijayakumar said the company has actively expanded its global footprint with its next-generation services and products.
Unlike the 4-8 per cent salary hikes announced by IT majors last year, global rivals as well as tech unicorns are currently offering double digit remuneration hikes.
The demand for skills in cloud computing, data analytics, cyber security, DevOps, machine learning etc has also led to higher attritions for the fourth quarter of FY21.
On Friday, HCLTech slumped to the fourth spot amongst the India's biggest IT services firm, replaced by Wipro which had a market capitalization of Rs 2.65 trillion on BSE.