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<ul><li>Technology major <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is hiring 500 sales professionals, skilled in digital technologies. </li><li>This would include sales staff at <keyword id="10875" type="COMPANY" weightage="20" keywordseo="IBM">IBM</keyword>, TCS, Infosys, Wipro and Tech Mahindra. </li><li>According to Cognizant’s website, there are over 80 job openings in the sales and marketing domain.</li></ul>Technology major Cognizant is hiring 500 sales professionals who are skilled in digital technologies. Cognizant CEO Brian Humphries recently said that they are analysing hiring trends. In fact, the company is looking to poach from TCS, IBM, Infosys and Wipro. “This would include sales staff at IBM disillusioned with the changes at that firm, and also from the likes of TCS, Infosys, Wipro and Tech Mahindra who want to increase earning potential and want a new challenge,” Phil Fersht, chief executive officer, HfS Research <a href="https://m.economictimes.com/tech/ites/cognizants-aggressive-hunt-for-sales-executives-may-set-off-a-talent-war/amp_articleshow/70953335.cms">told </a>ET. According to Cognizant’s website, there are over 80 job openings in the sales and marketing domain. This move is surprising as the company has been <a href="https://www.businessinsider.in/cognizant-may-layoff-hundreds-of-employees-sitting-on-the-bench/articleshow/70696484.cms">laying off its staff</a>. The IT giant has been cutting its mid and senior level talent pool to cut costs. At the same time, it is trying to boost revenues by tightening travel budgets, and increasing variable pay. Cognizant also introduced a ‘<a href="https://www.businessinsider.in/cognizant-begins-voluntary-separation-program-for-senior-staff-report/articleshow/69515809.cms">voluntary separation scheme</a>’ for senior executives. Under this, it offers 12-month salary and stock benefits depending on the employee’s tenure in the organisation. According to a report titled ‘<a href="https://www.businessinsider.in/a-survey-of-sales-professionals-shows-trust-is-as-important-as-tech/articleshow/70263159.cms">The State of Sales 2019 - India Report</a>’ released by LinkedIn, sales professionals are now adopting modern and digital selling tactics. In fact, most new employees spend time on sales technology. This includes using cloud-based software to enhance efficiency by automating tiresome tasks. See also: <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements</a> <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a> <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">TCS to add 18,000 freshers in the next three months</a>

Cognizant will hire 500 sales staff and looks to poach ‘disillusioned’ IBM employees

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> gave its employees 100% variable pay over the last three months and restarted the promotion process for junior level employees. </li><li>Over the next three months, the promotions process will also come in for senior employees along with any salary hikes. </li><li>However, Infosys CFO Nilanjan Roy highlighted that the new measures are likely to impact margins in the second half of the current fiscal year. </li><li>Infosys plans to add 16,000 freshers to its roster during the current fiscal and another 15,000 next year.</li></ul>Infosys has witnessed a stellar second quarter with a 16.2% jump in profits over the last three months. It’s rewarding its shareholders with an interim dividend of ₹12 per equity share and its reinstating wake hikes, promotions and other measures for employees. <div type="Article" hostid="261" msid="78659827" title="Infosys second quarter earnings deliver on all fronts led by highest ever deal wins worth $3.15 billion — raises annual guidance to 2% to 3%" mstype="2" mssubtype="0"></div> The impact of these measures, some rolled out between July to September, could already be seen in the company's voluntary attrition rate at 7.8%. "Attrition has come down dramatically due to more employee engagement during COVID-19," said Infosys COO Pravin Rao during the second quarter earnings call. Infosys added around 5,000 freshers and 2,500 new lateral hires to its rosters in the second quarter. According to Rao, the company is looking to add a total of 16,000 freshers overall during the current fiscal and another 15,000 next year. <div type="image" title="Copy of attrition rates it companies" msid="78660846" hostid="261" caption="&amp;lt;p&amp;gt;Infosys attrition rate drops to 7.8%, the lowest it&amp;#39;s been in at least the past three years&amp;lt;/p&amp;gt;"></div> Infosys rolls out incentives for employees In the second quarter, it has already doled 100% variable pay. Infosys’ junior employees were also awarded a one-time special incentive over the last three months. However, there is a flip side. These measures are likely to affect margins. “Going into the second half, some of these cost increases will now come back like wage hikes, promotions, hiring etc,” said Infosys CFO Nilanjan Roy. Even so, the company has increased in annual margin guidance to between 23% to 24% and hiked the annual revenue guidance to between 2% to 3%. Over the next three months, the salary increase process will be restarted for senior employees as well, effective from January 1, 2021. “I’m thankful to all our employees for staying deeply to serve our clients. They’ve navigated their own challenges associated with the ongoing coronavirus situation,” said CEO Salil Parekh. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-announces-16000-crore-buyback-strong-show-in-q2-with-over-20-rise-in-profit/articleshow/78536532.cms">TCS announces ₹16,000 crore buyback — strong show in Q2 with 7% rise in profit, margins near two-year high</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-dips-after-earnings-report-analysts-believe-it-will-take-a-while-to-catch-up-to-tcs-and-hcl-technologies/articleshow/78654023.cms">Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">Wipro CEO Thierry Delaporte outlines five-point strategy for growth — looking at more acquisitions and larger deals</a>

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

<ul><li>American multinational <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is expected to lay-off some hundreds of working employees as a part of its structural rejig and growth measures. </li><li>According to an ET report, several fresh graduates hired by the company are still waiting to get their joining date. </li><li>IT firms like Infosys, TCS and HCL have also stepped up campus hirings to expand its entry-level workforce.</li></ul>American multinational Cognizant is expected to lay off hundreds of employees to cut costs, according to an <a href="https://economictimes.indiatimes.com/tech/ites/techies-are-highlighting-workplace-woes-through-memes-and-confession-pages/articleshow/70694556.cms">ET report</a>. The IT major is also trying to boost its revenue by making other changes like tightening travel budgets. It is increasing variable pay as a part of its structural rejig. “It is part of the appraisal process; it is getting stricter. If you were a marginal performer or have not been allocated (a project), then they would look at beginning a separation process,” ET reported citing sources. Cognizant CFO Karen McLoughlin said that the company will focus on higher margins. The report also said that offers made to fresh graduates have been put on hold as well. The company however denied this move. Cognizant has a long history of honouring all campus offers and there is no reason to believe that this year will be any different,” the company said in response. The company also introduced a ‘<a href="https://www.businessinsider.in/cognizant-begins-voluntary-separation-program-for-senior-staff-report/articleshow/69515809.cms">voluntary separation scheme</a>’ for senior executives. Under this, it offers 12-month salary and stock benefits depending on the employee’s tenure in the organisation. As of June, the technology major had 288,200 employees — and over half of them are in India. Fresher Hiring grows Meanwhile, IT firms like Infosys, TCS and HCL stepped up campus hiring to expand entry-level workforce. Infosys — second largest software exporter in India — is planning to hire nearly <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">18,000 freshers</a> during this financial year, according to reports. In the 2018-19, the IT giant hired around 8,000 employees — including 2,500 freshers. TCS extended nearly 30,000 offer letters to fresh graduates. It plans to further increase the count by adding <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">18,000 more</a> over the next three years. <keyword id="30331" type="COMPANY" weightage="20" keywordseo="HCL-Technologies">HCL Technologies</keyword> recently launched its <a href="https://www.businessinsider.in/hcl-technologies-is-hiring-10000-freshers-including-class-12th-passouts/articleshow/69971601.cms">work-integrated programme</a> focussed to create a deployment-ready talent pool. With this, the company plans to hire 10,000 freshers in 2019-20 — including high-school passouts. See also: <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements</a> <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a> <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">TCS to add 18,000 freshers in the next three months</a>

Cognizant may layoff hundreds of employees sitting on the bench

<ul><li>Tata Consultancy Services (TCS), Infosys, HCL Technologies and Wipro plan to open up lateral hiring further in the next three months. </li><li>In April to June, the attrition rate — number of employees that continue with the company — have dipped for all four of them. </li><li>Although hiring will not be done to replace them immediately, aside from freshers who already have promises to come onboard, Indian IT companies will be hiring laterally to meet deal requirements.</li></ul>Every major Indian IT tech company decided to go slow on hiring or suspended hiring altogether at end of the last quarter in March. However, despite these assertions, they have continued to bring on lateral hires. <div type="Article" hostid="261" msid="77082427" title="Why TCS, Infosys, Wipro and HCL Tech can expect better earnings this year ⁠— here’s what’s working for each one of them" mstype="2" mssubtype="0"></div> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lateral hires </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,000 </td></tr></tbody></table>Source: Company earnings call One of the big reasons is attrition. Attrition rates present the speed at which employees are leaving the organisation. The lower the attrition rate, the fewer employees a company has been able to retain. <div type="image" title="Attrition rates" msid="77046033" hostid="261" caption="&amp;lt;p&amp;gt;Attrition rates across TCS, Infosys, HCL Tech and Wipro for the last five quarters&amp;lt;/p&amp;gt;"></div> Lateral hiring continues driven by demand Any freshers on-boarded before the pandemic will continue to come through albeit at a slower rate with training facilities caught in the coronavirus pandemic lurch. Meanwhile, offering any new freshers to come on board isn’t a part of the plan. <div type="Article" hostid="261" msid="76995155" title="Infosys is still on the fence when it comes to making work from home a permanent change" mstype="2" mssubtype="0"></div> Instead, the companies are looking at lateral hires to fill the gaps where skill is needed to fulfil current deals and projects. Even at Wipro’s chief human resources officer (CHRO) Saurabh Govil claims that lateral hiring never stopped at the company. “We will continue to hire in Q2 based on demand.” “The downward trend in attrition continues. Expected to continue in the next quarter as well,” said HCL Technologies chief human resources officer (CHRO) Apparao VV. “Attrition has significantly come down but we will not be hiring significant numbers for immediate replacement,” he added. Tata Consultancy Services (TCS) didn’t hire in Q1FY21 but filled in over 4,500 positions by reskilling, cross-skilling and multiskilling the company’s existing employees. CEO Rajesh Gopinathan claims that learning intensity at the company has increased by nearly 25% between April to June. <div type="Article" hostid="261" msid="76887172" title="TCS to kickstart lateral hiring and bring back 5% of its employees to offices" mstype="2" mssubtype="0"></div> The company is now revising its freeze on lateral hiring to meet the demand environment. “We decided to open up on the lateral hiring side and have started onboarding new associates into the TCS ecosystem,” said Gopinathan. Indian IT services companies — like Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies — has been launching new initiatives for their staff. Infosys, for instance, increased the variable pay for their staffers in the first quarter of 2020-21. TCS, on the other hand, rejigged their learning module to promote employees already within the organisation. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-tech-mahindra-what-to-expect-from-earnings/articleshow/76865753.cms">TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter</a> <a href="https://www.businessinsider.in/careers/news/infosys-work-from-home-not-permanent-says-coo-pravin-rao/articleshow/76995155.cms">Infosys is still on the fence when it comes to making work from home a permanent change</a> <a href="https://www.businessinsider.in/business/corporates/news/h1-b-visa-impact-on-tcs-hcl-tech-infosys-wipro-and-cognizant-after-december-2020/articleshow/76681640.cms">Two ways the H1-B visa freeze could change things for TCS, HCL Tech, Infosys and other Indian IT companies</a>

TCS, Infosys, HCL Tech and Wipro open up lateral hiring as more people walk out the door during the COVID-19 pandemic

<ul><li><keyword id="620690" type="PERSON" weightage="20" keywordseo="Infosys-share-price">Infosys share price</keyword> is up by over 9% after the Indian IT services company reported its earnings on Wednesday. </li><li>While its quarterly numbers may have been in the red, Infosys’ Q1 earnings fared better than its peers like Tata Consultancy Services (TCS) and Wipro. </li><li>Infosys share price had already jumped by over 6% ahead of the earnings on Wednesday. </li></ul>Infosys share price is up by over 9% since Indian markets opened today morning. The IT services behemoth reported a 4.5% drop in profit and a 2% dip in revenue quarter-on-quarter. While the numbers may be in the red, Infosys has outperformed its peers — Tata Consultancy Services (TCS) and Wipro — who have already announced their first-quarter results. <div type="image" title="infosys share price (6)" msid="76996549" hostid="261" caption="&amp;lt;p&amp;gt;Infosys share price over the last 30 days&amp;lt;/p&amp;gt;"></div> The uptake in Infosys share price comes after the stock value was already on the rise by over 6% on Wednesday, ahead of the company’s earnings announcement. <div type="Article" hostid="261" msid="76980089" title="Infosys gives annual guidance of up to 2% growth this year as profit plummets by 4.8% and revenue dips 2% in Q1" mstype="2" mssubtype="0"></div> Last week, Tata Consultancy Services (TCS) reported that its revenue fell by 7.1% as compared to the previous quarter. For Wipro, the revenue was down by 5.3% By that comparison, Infosys 2% dip in revenue seems marginal. <div type="image" title="infosys vs tcs vs wipro revenue q1fy21" msid="76996571" hostid="261" caption="&amp;lt;p&amp;gt;TCS vs Wipro vs Infosys Q1 revenue&amp;lt;/p&amp;gt;"></div> However, when it comes to profits Wipro reported a 2.1% increase but TCS’ profit plummeted by 13.5%. <div type="image" title="infosys vs tcs vs wipro profit q1fy21" msid="76996580" hostid="261" caption="&amp;lt;p&amp;gt;TCS vs Wipro vs Infosys profit in Q1&amp;lt;/p&amp;gt;"></div> Infosys was also the only Indian IT services company so far to issue guidance for the coming of between zero to 2% annual growth. With more employees working from and the depreciation of the rupee — which helps IT companies since they operate abroad and most of the billings are in dollars — Infosys was also able to expand its operating margins by 1.6%. The margin expansion could have been larger but the company increased the variable pay of its employees, which cost it around 110 basis points of benefits. “We see a strong pipeline across our verticals, of course, financial services being the largest,” said Infosys’ chief financial offer Ninaljan Roy during the earnings call. Verticals with the most amounts of interest are cloud, workplace transformation, digital transformation, automation and cost-efficiency. “We are also seeing demand in the area of consolidation,” said CEO Salil Parekh. Chief operating officer, Pravin Roy, added that when it comes to retail, aside from groceries, all other segments — from apparel to logistics — are seeing contraction and supply chain disruptions. “One on their key focus is on variating their costs. They’re also looking at continued investment,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/infosys-company-profit-is-down-4-8-and-revenue-has-dipped-by-2-in-q1fy21/articleshow/76980089.cms">Infosys gives annual guidance of up to 2% growth this year as profit plummets by 4.8% and revenue dips 2% in Q1</a> <a href="https://www.businessinsider.in/careers/news/infosys-work-from-home-not-permanent-says-coo-pravin-rao/articleshow/76995155.cms">Infosys is still on the fence when it comes to making work from home a permanent change</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-tech-mahindra-what-to-expect-from-earnings/articleshow/76865753.cms">TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter</a>

Infosys shares are on fire because it beat TCS and Wipro⁠— and gave a soothing guidance

CEOs of India’s IT industry are considered among the best paid and their severance package have also started looking better but when compared to their US counterparts, Indians may be lagging behind. 
 
Francisco D'Souza of Cognizant is entitled to $24 million (Rs 154 crore) if his employment is terminated without cause, according to filings with the US Securities and Exchange Commission. 
 Likewise, Infosys’ <keyword id="6369763" type="PERSON" weightage="80" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> is entitled to severance pay that could go up to about $10 million. 
 
NR Narayana Murthy, Nandan Nilekani, S Gopalakrishnan and SD Shibulal were uniformly entitled to just three months of severance pay if their employment was terminated without cause. 
 
Economic Times reported Sikka, in comparison, is entitled to 18 months of base pay that will be paid out over a period of 18 months, along with 18 times the liquidated payout in equal installments over a period of 18 months. 
 
Sikka currently earns about $900,000 in annual base pay and another $4.18 million in annual variable pay, and also is entitled to about $2 million of stock options. 
 
In an email, a TCS spokeswoman told the financial daily,“Despite burgeoning pay packages and severance clauses, some feel that CEOs in India do not have the kind of safety net that heads of US-based companies typically enjoy.” 
 
The former CEO of one of India's top software companies told ET that while the rules make it easier to hold the chief executive accountable for a company's performance, the company is not similarly accountable to protect the interests of its CEO. "In Indian companies, CEO contracts can often be relatively vague and they haven't changed at all over the last decade. While Indian companies have done great work on beefing up governance over the past 10 years, there is still a big gap in terms of protecting the rights of the CEO," this person told the financial daily on the condition of anonymity. 
 However, the <keyword id="2894473" type="UNKNOWN" weightage="80" keywordseo="severance-packages-of-CEOs">severance packages of CEOs</keyword> of US were different. 
 
Jack Welch made $417 million when he left General Electric, and Meg Whitman pocketed $120 million from eBay. Golden parachutes of US-based CEOs typically include cash severance, accelerated vesting on stock awards and interest on deferred compensation. 
 
ET stated that in India, since a number of companies typically appoint internal candidates as CEOs, their contracts are more often than not an extension of their existing employee contracts, which typically don't include the large severance packages enjoyed by their US counterparts. 
 In 2011, Wipro's <keyword id="6419840" type="PERSON" weightage="80" keywordseo="Azim-Premji">Azim Premji</keyword> decided to ditch the joint CEO-model and appointed TK Kurien as the company's new CEO. Wipro's joint CEOs Suresh Vaswani and Girish Paranjpe were given severance packages of about $1.55 million -- much lower than what US-based CEOs typically enjoy. 
 
The contrast is stark even within IT companies -- between CEOs based in India and those based overseas. 
 
N Chandrasekaran of TCS and TK Kurien of Wipro have severance packages that are a fraction of the size of those handed to US-based D'Souza and Sikka. Former HCL Technologies CEO Vineet Nayar, however, told ET that in India contracts are trust-based and boards reward CEOs liberally. "Boards go out of the way to take care of successful CEOs by keeping them engaged and compensating them well," he said. 
 
(Image: Indiatimes)

Indian IT CEOs are nowhere near their US counterparts when it comes to safety net

Top IT and tech firms like <keyword id="10862" type="General" weightage="100" keywordseo="wipro" source="Orion">Wipro</keyword>, <keyword id="6354512" type="General" weightage="80" keywordseo="infosys" source="Orion">Infosys</keyword> and <keyword id="43217" type="General" weightage="80" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> have reportedly revoked <keyword id="2150342" type="General" weightage="20" keywordseo="offer-letters" source="Orion">offer letters</keyword> given to students after delaying their joinings by nearly three-four months. According to reports, hundreds of freshers were given offer letters but first the joining of those candidates were postponed and finally, their offer letter was revoked. The news, first reported by BusinessLine, quoted emails sent by these companies to the freshers whose offer letters were rejected. According to the reports, the students received these offer letters after several rounds of interviews and a rigorous selection process. "It has been identified that you are not meeting our academic eligibility criteria. Hence your offer stands null and void," one of the emails read. The companies were yet to react to the reports. The global macroeconomic conditions, amid recession fears and rising inflation, have hit the Indian industries, and the IT/tech industry in the country is not immune. Experts have earlier said that the momentum in the Indian IT industry would slow down further in times to come. TCS earlier postponed variable pay to its employees while Infosys reportedly slashed it to 70 per cent and Wipro deferred it completely. According to a latest report by <keyword id="218117" type="General" weightage="20" keywordseo="naukri-com" source="Orion">Naukri.com</keyword>, the IT sector recorded a de-growth of 10 per cent in hiring activity in August. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/next-repo-rate-hike-expected-to-be-35-basis-points-to-6-25-kotak-report/articleshow/94633139.cms">Next repo rate hike expected to be 35 basis points to 6.25%: Kotak report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/this-pioneering-regional-ott-has-turned-profitable-in-5-years-heres-how/articleshow/94629578.cms">This pioneering regional OTT has turned profitable in 5 years – here’s how</a>

Wipro, Infosys, Tech Mahindra revoke offer letters given to freshers: Reports

<ul><li>The 30-share BSE index Sensex was down 37.38 points, and the NSE Nifty was trading 0.10% lower at 10:10 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Choppy trade on Dalal Street this Thursday morning. Indian stock market indices Sensex and Nifty are tracking weak cues from the global markets. The 30-share BSE index Sensex was down 37.38 points, and the NSE Nifty was trading 0.10% lower at 10:10 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td></tr></tbody></table>*as of October 15, 10:00 am These are the top stocks in news today. MTNL shares up 7% The shares of state-owned Mahanagar Telephone Nigam Limited (MTNL) were up 7% after the central government mandated all ministries, public departments and public sector units to use telecom services of state-run BSNL and MTNL. PVR and INOX Leisure shares up 1% The shares of cinema giants PVR and INOX Leisure were up nearly 1% after Delhi, Haryana, and Uttar Pradesh decided to reopen cinema halls as per the MHA Unlock guidelines. Tata Elxsi gains 5% The Tata Elxsi shares gained over 5% — touching a new 52 week high, after the company reported a profit of ₹78.9 crore for the second quarter compared to ₹49.8 crore during the same period last year. The revenue rose to ₹430.2 crore from ₹385.8 crore in the year-ago period. Ashok Leyland leaps 5% in a volatile market The shares of automaker Ashok Leyland were up 5% after brokerages upgraded their rating to ‘Buy’. Axis Securities has pegged a target price of ₹90. Last week Edelweiss rated it ‘Buy’ with a target price of ₹83. Infosys up 4% in opening trade The shares of Indian IT giant Infosys opened 4% higher after the company reported a stellar quarter led by record deal wins, and it has also raised the <a href="https://www.businessinsider.in/business/corporates/news/infosys-second-quarter-earnings-deliver-on-all-fronts-led-by-highest-ever-deal-wins-worth-3-15-billion-raises-guidance-to-2-to-3/articleshow/78659827.cms">FY21 guidance</a>. The company also gave<a href="https://www.businessinsider.in/careers/news/infosys-to-reinstate-wage-hikes-promotions-and-hiring-will-impact-margins-over-the-next-six-months/articleshow/78660576.cms"> its employees 100% variable pay</a> over the last three months and restarted the promotion process for junior-level employees. Future Retail up over 2% The shares of Kishore Biyani-led Future Retail were up 2% after<a href="https://www.timesnownews.com/business-economy/companies/article/amazon-can-not-challenge-future-group-deal-with-reliance-as-it-does-not-involve-future-coupons/667096"> media reports</a> citing industry sources claimed that Amazon could not challenge Future Group to deal with Reliance as it does not involve Future Coupons. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/infosys-share-price-hits-fresh-52-week-high-after-highest-ever-deal-wins-of-over-3-billion/articleshow/78673575.cms" data-type="tilCustomLink"> Infosys share price hits fresh 52-week high after highest-ever deal wins of over $3 billion</a> <a href="https://www.businessinsider.in/stock-market/news/likhitha-infrastructure-lists-at-8-premium-over-the-issue-price/articleshow/78674174.cms" data-type="tilCustomLink">Likhitha Infrastructure lists at 8% premium over the issue price</a> <a href="https://www.businessinsider.in/stock-market/economy/news/world-bank-president-says-covid-19-pandemic-is-causing-the-one-of-the-deepest-recessions-since-great-depression/articleshow/78673669.cms" data-type="tilCustomLink">World Bank President says COVID-19 pandemic is causing the one of the deepest recessions since Great Depression</a>

You Searched For "tcs variable pay" and got 8 results

Cognizant will hire 500 sales staff and looks to poach ‘disillusioned’ IBM employees

Prerna Sindwani

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

Prabhjote Gill

Cognizant may layoff hundreds of employees sitting on the bench

Prerna Sindwani

TCS, Infosys, HCL Tech and Wipro open up lateral hiring as more people walk out the door during the COVID-19 pandemic

Prabhjote Gill

Infosys shares are on fire because it beat TCS and Wipro⁠— and gave a soothing guidance

Prabhjote Gill

Indian IT CEOs are nowhere near their US counterparts when it comes to safety net

BI India Bureau

Wipro, Infosys, Tech Mahindra revoke offer letters given to freshers: Reports

IANS

Top stock movers — Future Retail, INOX, PVR, Tata Elxsi, MTNL, Ashok Leyland and others

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