Chinese technology giant Bytedance, the promoter of social media platforms TikTok and Helo, that have gone viral in India over the last couple of years, has announced that it will establish local data centres in India. The move comes as the company has been under tremendous pressure from the Indian government that has repeatedly tried to muzzle TikTok, an application that allows users to make and post short videos and has been a rage in India, with 120 million active users who regularly make and post videos, including political satire. TikTok had been banned by a court in Tamil Nadu for a brief while, but the ban had been quashed promptly by the nation’s Supreme Court.

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The server market in India has declined by a sixth in annualised value terms to reach USD 298 million in the first quarter of 2019 as against USD 355.8 million in same quarter last year, according to data firm, the International Data Corporation (IDC). The x86 server market now accounts for 88.9 pc of the overall server market in terms of revenue, IDC says. IBM tops the market with a revenue share of 76.5 pc, followed by Oracle with share of 17.9 pc and HPE with 5.6 pc, said IDC.

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Faced with continued uncertainty over the fate of H1B visas for the Indian tech workers in the United States as well as an unpredictable Trump administration, India’s second largest tech firm Infosys says that it has already hired over 10,000 local employees in the United States by the end of the last quarter and hence completed its localisation target for the country. The tech major is planning to raise the number of locals in the coming quarters in a market that accounts for over 60 pc of the company’s total revenues.

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Mid sized tech firm Mindtree, that had been in the headlines due to a futile bid by its promoters to fight a hostile takeover bid by Larsen &Toubro, saw its share stake a plunge on the Indian bourses last week. The shares of the company fell by 10 pc to INR 675, a new 52-week low, after the company’s consolidated net profit more than halved to INR 930 million (USD 15 million) in June quarter (Q1FY20), as compared to previous quarter. It had reported a profit of INR 1980 million (USD 32 million) in the previous quarter. The IT consulting & software company's operational revenues declined marginally. “This included a one-time special award to employees to mark Mindtree’s 20th anniversary – excluding which, its margin declined by 392bps (significantly 209bps below our estimate) on regular wage hike impact, INR appreciation, higher visa cost and higher depreciation owing to adoption of Ind AS 116,” analysts at Reliance Securities said in result update.

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Cyient Limited, a Hyderabad-based technology firm focused on engineering, manufacturing and data analytics, saw its share stake a hammering in the Indian stock markets as the scrip lost 11 pc on Friday to hit its 52-week low. The fall has been blamed on disappointing numbers reported by the company for the first quarter of this fiscal year. Cyient recorded a revenue of USD 157 million, a fall of 5.2 pc quarter on quarter and 3 pc year on year and a good 5 pc below analyst estimates. This is the company’s worst performance in the past 10 years.

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