![]() On the other hand, fresher and junior-level staff will get variable pay after a 30 per cent cut. Earlier, Wipro had decided to hold back variable pay to its mid and senior-level executives. To further curb the attrition rate, Wipro has rolled out an annual salary hike covering 96 per cent of the employees. The company has made the highest hiring among the tech giants reducing the attrition rate from 23.8 per cent to 23.5 per cent for the June quarter 2022. This stake reduced to 6.9 per cent by the end of the June 2022 quarter.įurther in the June 2022 quarter, Wipro's margins fell to 11.9 per cent from 14.8 per cent in the March 2022 quarter, dragged down by the variable pay to retain the employees. FII's stake stood at 8.1 per cent in March 2022 quarter. This decline was on the back of the heavy selling pressure due to the continuous disinvestment by FII.įIIs have been disinvesting their stake since the September 2021 quarter. ![]() Shares of the company also hit their 52-week low today. The company caters to various Industries, including finance, retail, energy and many more. Infosys is an Indian tech giant offering digital and traditional IT services. Out of which 38 new clients were for the US$ 100 million plus bucket while 278 clients were for US$ 50 million plus bucket. ![]() Infosys has added 106 new clients for the June 2022 quarter. However, going forward, the company plans to increase its margins for the coming year. Infosys recorded an attrition rate of 28.4 per cent for the June quarter, up from 27.7 per cent sequentially. In the most recent June 2022 quarter, Infosys' margins fell 1.5 per cent sequentially to 20.1 per cent, dragged down by salary hikes.Īnother problem hurting Infosys is the high attrition rate. This was due to the depreciation in the Indian rupee and overall sentiment toward IT stocks across the globe. Shares of the company touched their 52-week low today. Let's look at which tech companies are trading at their one-year lows. The company's result is also a probable indication that the Indian IT firms may face headwinds and see the revenue growth momentum slowing down.įIIs have already pruned exposure to the Indian IT sector amid the risk of an impending recession in the US and slowing growth in Europe.ĭue to this, shares of IT stocks in India have taken a hit.
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