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IT leads rise in Indian shares as US inflation relief spurs global rally

INDIA STOCKS-IT leads rise in Indian shares as US inflation relief spurs global rally Updates at 10:01 a.m. IST By Dimpal Gulwani and Bharath Rajeswaran BENGALURU, May 16 (Reuters) - Indian shares rose on Thursday, led by information technology stocks, and tracke d a rally in other Asian equities after softer-than-expected U.S. consumer inflation raised expectations of at least two interest rate cuts in 2024. The blue-chip NSE Nifty 50 .NSEI was up 0.1 7 % at 22,24 0 .30 points, while the S&P BS
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Indian IT stocks dip after EPAM's subdued 2024 rev forecast

BUZZ-Indian IT stocks dip after EPAM's subdued 2024 rev forecast ** Indian IT stocks .NIFTYIT down ~1%, among two of 13 sectoral indexes declining vs Nifty 50 index .NSEI up 0.3% ** Decline after U.S. counterpart EPAM Systems EPAM.N forecasts 2024 revenue below analysts' estimates, signalling weak client demand ** CLSA says EPAM's Q1 results, rev g
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Software provider EPAM sees weak 2024 as slow demand hurts

UPDATE 1-Software provider EPAM sees weak 2024 as slow demand hurts Updates share movement in paragraph 1 May 9 (Reuters) - EPAM Systems EPAM.N forecast full-year profit and revenue below analysts' expectations on Thursday, hurt by weaker demand for its software services, sending shares of the company down 22.5% in early trading. Sticky inflation and higher interest rates have slowed enterprises' digitization efforts and cloud adoption, affecting IT-service providers across the globe.
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Software provider EPAM sees weak 2024 as slow demand hurts

Software provider EPAM sees weak 2024 as slow demand hurts May 9 (Reuters) - EPAM Systems EPAM.N forecast full-year profit and revenue below analysts' expectations on Thursday, hurt by weaker demand for its software services, sending shares of the company down about 9% in premarket trading. Sticky inflation and higher interest rates have slowed enterprises' digitization efforts and cloud adoption, affecting IT-service providers across the globe.
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TCS CEO Krithivasan earned $3 mln in first year at top job

TCS CEO Krithivasan earned $3 mln in first year at top job By Haripriya Suresh BENGALURU, May 9 (Reuters) - Tata Consultancy Services TCS.NS , India's top IT services firm, said its CEO K Krithivasan earned 253.59 million rupees ($3.04 million) in financial year 2024, making him likely the lowest-paid CEO among top the four Indian IT firms. The commissions tied to TCS' annual profit made up for a key chunk of Krithivasan's compensation, the company said in its annual report on Thursday.
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