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Hiring in IT sector expands by 16% in April on AI, cloud push: Report
Hiring in the IT sector grew 16 per cent year-on-year in April, driven by factors such as AI adoption, cloud modernisation, and the continued expansion of Global Capability Centers (GCCs), a report said on Friday.India's IT hiring grew last month, marking a sharp rebound from fluctuations over previous years, the report 'the foundit Insights Tracker (fit)' by jobs platform foundit said.GCCs played a significant role in this hiring growth, contributing over 1,10,000 new tech jobs in FY25, and ramping up demand for roles like data engineering, DevOps, and enterprise architecture, it added.ALSO READ: Indian IT sector may see low single-digit growth in FY25: NasscomThe foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity conducted by foundit.in.The report further said that skill-based hiring continued to dominate, with 62 per cent of IT employers prioritising practical expertise over formal qualifications.ALSO READ: Reliance Jio keen to invest in IT sector in Tripura: CM Manik SahaTop in-demand domains included AI/ML, cloud computing, cybersecurity, and data analytics, which together account for 95 per cent of job postings in the IT sector, it stated.Cities like Coimbatore (40 per cent) Ahmedabad (17 per cent), and Baroda (15 per cent) recorded remarkable annual hiring growth driven by hybrid work models and cost advantages, said the report.Metro hubs like Bengaluru (9 per cent), Mumbai (9 per cent), and Delhi NCR (7 per cent) continued to lead hiring for leadership and specialist roles, it added.
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Indian Express
31 minutes ago
- Indian Express
Before China's rare earth curbs, India's permanent magnet imports nearly doubled in FY25
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Time of India
32 minutes ago
- Time of India
Hospitality sector: ICRA projects 6% growth in revenue; outlook revised to 'stable'
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The Hindu
32 minutes ago
- The Hindu
Key sectors in market may be overvalued: Kotak Institutional Equities
Stocks of companies in key sectors may be overvalued and disconnected to the performance of the companies at least in the short to medium term, according to analyst commentaries. 'The valuations of the market are expensive and of many 'narrative' stocks bizarre after the sharp recovery in the market in the past 4-5 weeks,' the authors said. The rally in railway stocks are an outcome of the general excitement in the small and mid cap (SMID) stocks. In a separate report on overvaluation in cement stocks, KIE blamed 'herd mentality' of analysts behind expensive valuations despite earnings estimates being cut continuously for 10 years. Speaking about the valuations, V.K Vijayakumar, Chief Investment Strategist at Geojit Financial Services agreed that retail investors were depending too much on stories to pick stocks. Giving defence as an example, he said, since government was the only producer and procurer for these companies, they cannot make high profit. 'Operation Sindoor is making the story greater than it sounds,' he said. Railways, although not a story, he found the prices of the stocks were going ahead of the fundamentals and disagreed with KIE's view that cement stocks were overvalued. The conversation on valuation of stocks based on narratives becomes important in the context of increased retail investor participation in the market. 'Many of the 'narrative' stocks are largely owned by retail shareholders,' which may be behind their volatility said KIE. Moreover, a KIE report titled 'Stuck!' said that promoters had reduced their holding in large and mid sized companies over the past 15-20 days. While KIE said that the narrative of Indian exceptionalism need to dampen, maintained confidence in the 'India growth story.'
