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Bengaluru: India’s top five information technology services companies grew at a slower clip in the first nine months of this year, defying hopes that the $254 billion industry would rebound after reporting its weakest growth ever in 2023. Yet, save for Wipro Ltd, the shares of the remaining four IT services firms—Tata Consultancy Services Ltd, Infosys Ltd, HCL Technologies Ltd, and Tech Mahindra Ltd—have delivered better returns than both the Sensex and the Nifty 50 so far this year. In 2023, TCS and Infosys stocks fared worse than the Sensex, while the other three outperformed. The Nifty IT index has also vastly outperformed the two benchmark indices, gaining 22.48% in the year through 27 December. The Sensex has gained 8.89% so far this year, and the Nifty 50, 9.53%. Analysts say investors are loading up on Indian IT stocks in anticipation of a recovery in tech spending by Fortune 500 companies as the US Federal Reserve is set to cut its key interest rates further. The Fed has but indicated earlier this month that it may opt for fewer rate cuts next year as it battles stubborn inflation. “... As interest rates ease, discretionary spends can pick up, translating to more business for IT service providers," Pramod Gubbi, founder of Marcellus Investment Managers. “When the US Fed indicated (in September) that it was done with rate hikes from March 2023, the market had started to factor in growth." TCS, Infosys, HCLTech and Wipro saw their order books, or total contract value, decline in the first half of 2024-25 (April-September) compared to the corresponding year-earlier period, marked by the absence of ‘mega deals’ that are worth more than $1 billion. The second half of the fiscal year (October-March) is historically weaker for Indian IT services companies because of fewer billing days and more holidays. Even so, these companies have issued positive revenue guidance for FY25 and have been hiring more people. “This year, as growth is looking promising, the IT sector is outperforming out of expectation that things will get better, and hence the returns," said Sanjeev Hota, vice-president, head of research at Mirae Asset Sharekhan. Keith Bachman, an analyst with BMO Capital Markets, said in a 12 December report that increased hiring by India’s largest IT services firms in recent quarters was a leading indicator signalling better growth, which in turn could drive a rally in their stocks. Mint reported last week that a renewed hiring spree by Dublin-headquartered and NYSE-listed Accenture Plc painted a as it signalled a rebound in global IT spending. Yet, analysts are cautiously optimistic about the prospects of Indian IT services firms next year considering the rise of generative artificial intelligence, or GenAI, which could dash the sanguine outlook. “GenAI is deflationary in my view as it will mean that IT services will be delivered by fewer people, and therefore, the revenue can come down," said Gubbi, adding that the money saved by customers will go to more GenAI investments and new streams of work will come from GenAI. While AI and GenAI currently account for only a fraction of IT services companies’ revenues, these technologies are biting into their clients’ discretionary IT spending. “... We question if 2025 IT services market growth will benefit from net new demand, including new generative AI projects, more so than current pricing pressure and generative AI deflationary forces," said Bachman of BMO Capital Markets. “A plausible scenario could be that in 2025, IT services growth might improve over 2024 (with upside tension to consensus estimates in this scenario), and then as the capabilities of generative AI grow and improve, the deflationary impact is more pronounced in 2026 and beyond, leading to prolonged growth headwinds."University of Doha for Science and Technology (UDST) has announced the launch of 7 new programmes for Fall 2025, ranging from bachelor's to master's degrees, all focused on hands-on learning and practical applications. These programmes are the result of strategic partnerships with key national and international entities, including local and international organisations in the aviation industry. Admissions for these programmes will open in January 2025 for the academic year 2025-2026. At the College of Engineering and Technology, the new programmes include Bachelor of Science in Aeronautical Engineering (BSc AeroE) and Master of Science in Telecommunication and Network Engineering (MSc TNE), the university said in a press release Sunday. The College of Business, will be offering Bachelor of Science in Aviation Management (BSc AM); a programme is designed to equip students with a strong foundation in both business management and aviation-specific knowledge, preparing them for leadership roles in the dynamic aviation industry, UDST added. In the College of Computing and Information Technology, the Master of Science in Data Science and Artificial Intelligence (MSc DSAI), has been introduced. At the College of General Education the new programmes include Bachelor of Science in Teaching STEM, which combines interdisciplinary teaching strategies with hands-on learning. This programme prepares graduates to create dynamic educational experiences, and the Master of Science in Teaching STEM; a bilingual (English and Arabic), two-year graduate programme combining cutting-edge research with practical teaching methodologies, empowering educators to create transformative learning experiences. Graduates will be prepared to shape the future of education, equipping students with the critical thinking and problem-solving skills needed to thrive in an increasingly technology-driven world. Moreover, the College of General Education will also offer Master of Science in STEM Education and TVET, a comprehensive two-year programme designed for qualified teachers who wish to advance their expertise in both STEM education and Technical and Vocational Education and Training (TVET). Commenting on the announcement, President of UDST Dr Salem al-Naemi said: "The University is proud to introduce these new programmes, developed after extensive consultation with industry experts, academic leaders, and our strategic partners. Our goal is to equip students with not only the skills needed for today's workforce but also the foresight to thrive in tomorrow's ever-evolving job market. "We are seeing an increasing recognition from both students and their families of the value of applied education. At UDST, our students engage in hands-on learning in real-world environments, benefiting from the vast network of professional connections that our partnerships provide. This approach ensures that our graduates are not just educated but prepared to succeed and make a meaningful impact in their chosen fields." These new programmes are aligned with UDST's mission to provide innovative and high-quality education that meets the evolving needs of Qatar's rapidly developing economy. Related Story UDST commemorates QND with festivities UDST signs pacts with UK institutions
Newport News-based ivWatch receives accolades for life-saving technologyNEW DELHI: Satcom Industry Association India ( SIA-India ) has inked an MoU with Ghana Space Science and Technology Institute (GSSTI) to advance collaboration in satellite communications and space industry. The partnership reflects a shared commitment to promoting growth and sustainability of space-based technologies and applications that benefit both nations. With India-Africa trade reaching $90.5 billion in 2022–23, and a goal to scale it to $200 billion by 2030, the partnership reflects the evolving synergy between the two regions. Ghana is poised to benefit from India’s transformative advancements in space technology, including satellite manufacturing, launch services, and innovative space applications. India has consistently engaged with Africa in space and technology initiatives, as evidenced by programs like the Pan Africa eNetwork Project, the Indian Technical and Economic Cooperation (ITEC) Programme, and the India-Africa Partnership Fund. Through this MoU, Ghana stands to leverage India’s expertise while advancing its own space agenda. This collaboration aims to unlock new opportunities, promote innovation, and strengthen the bond between India and Ghana. “We are excited to embark on this partnership with GSSTI which represents a significant step toward strengthening space sector ties between India and Ghana. Through this partnership, we aim to formalise cooperation that will drive impactful initiatives, including capacity-building programs tailored for Ghanaian space professionals, and the co-development of satellites, ground stations, and space application tools,”said Subba Rao Pavuluri, president of SIA-India. “This alliance marks a significant milestone in SIA-India’s ongoing efforts to strengthen international ties, especially with Africa, which is a strategically important market for the Indian space industry,” said Anil Prakash, director general of SIA-India. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .Raiders and Saints meet with prominent players nearing statistical milestonesNEW YORK — The rumbling buses echoed for blocks on the quiet campus at Fordham University. Nebraska’s sprawling football operation had arrived. This isn’t the typical home team, the FCS-level Rams that just completed a 2-10 season. The Huskers took the practice field on a cold and sunny Thursday afternoon flanked by social media cameras and a host of staffers. A post-practice grab-and-go buffet line greeted players afterward as they headed the few miles back toward downtown Manhattan and an evening at a high-profile ping-pong club. “Just looking around, spending time with each other,” freshman linebacker Vincent Shavers said of more time in New York City. “I ain’t never did this before with no other team so I’m very happy. I’m grateful for them.” Jay-Z’s “Empire State of Mind” played on the sound system as Nebraska went through workouts two days before the Pinstripe Bowl. The Huskers practiced at Joe Moglia Field — Moglia, a Fordham alumnus, was once the executive advisor to former NU coach Bo Pelini in 2009 and 2010 — on an artificial surface shared also by the Fordham soccer and baseball teams. Baseball’s press box named after another famous graduate, Vin Scully, was only yards away as the visiting Big Ten team went through drills. People are also reading... The gated campus — just a couple blocks away from bustling neighborhood streets in the Bronx — was covered with small piles of snow scattered throughout. Temperatures in the sun felt perhaps in the mid-40s while shady conditions felt closer to 20. New Nebraska assistant coaches Daikiel Shorts (receivers) and Phil Simpson (outside linebackers) spoke with a smattering of reporters afterward along with a few players. Coach Matt Rhule will talk midday Friday as part of a Pinstripe availability before kickoff Saturday at noon eastern time. Subscribe for the best Husker news & commentary Be the first to know Get local news delivered to your inbox!
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