Layoffs rile India's flagship IT sector

Experienced Indian techie Raghu Narayanaswamy lost his job recently and fears he may not get another, as analysts warn of massive layoffs across the country's multi-billion-dollar information technology sector.

India's IT industry body slams mass layoff reports

Indian software trade body Nasscom on Thursday dismissed widespread media reports of mass layoffs in the country's hugely important information technology industry but warned that the sector must reinvent itself.

India fines ex-IT firm chief over 'India's Enron'

India's equity market regulator has slapped multi-million dollar fines on the former chief of outsourcing giant Satyam and his aides for manipulating the firm's shares in a scandal dubbed "India's Enron".

'India's Enron' fraud trial to conclude next month

A judge trying 10 people over one of India's biggest ever corporate fraud scandals at IT group Satyam is to reach a verdict at the end of next month, a report said Thursday.

BT sells 14.1% stake in India's Tech Mahindra

British telecoms group BT said Thursday that it has completed the sale of a 14.1-percent stake in Indian IT group Tech Mahindra to institutional investors for £158.6 million.

India's Satyam quarterly profit jumps 56%

Indian software outsourcer Mahindra Satyam on Thursday said its quarterly net profit rose 56 percent year-on-year, beating forecasts as orders climbed.

India's Tech Mahindra announces Satyam merger

India's Tech Mahindra announced its long-awaited buyout of IT outsourcer Satyam Computer on Wednesday, creating a new force in the sector with annual revenue of $2.26 billion.

Tech Mahindra's bid for India's Satyam approved

India's Company Law Board on Thursday approved a bid from mid-sized outsourcing firm Tech Mahindra to take over graft-tainted Satyam Computer Services, an official said.

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