We have no further comments to make on this issue,\" L&T said in a clarification to the BSE.

Cognizant Technology Solutions Corp topped analysts' estimates for quarterly profit on Thursday, as clients in the healthcare and financial industries spent more for its services.

The timing of the bank freeze has raised concerns around tax terrorism.

In a first, the best performing employees of US-listed Cognizant Technology Solutions will receive only 95 per cent of their variable pay for 2016, much lower than the usual 150 per cent to 200 per cent they used to earn earlier.

The US listed IT company which has a significant workforce in India is expected to cut down its employee count by as much as 2.3 per cent.

While share buybacks in itself isn't anything new, this is not a common phenomenon in the till recently fast growing IT services sector.

Chandrasekaran, who is also known as 'Chandra', will resume his role as the chairman of Tata Sons from tomorrow onward.

IT services major Cognizant Technology Solutions Corp, on Wednesday announced that it would do share buybacks worth $3.4 billion over two years.

IT services provider Cognizant Technology Solutions Corp reported its slowest quarterly revenue growth in 14 years as its clients in the financial and healthcare services held back on spending.

India's second-largest IT services firm Infosys forecast strong revenue growth and reported its third successive estimate-beating earnings on new client wins, solidifying a recovery that began a year ago under its new chief executive.

Net income rose to $397.2 million, or 65 cents per share, in the third quarter ended September 30, from $355.6 million, or 58 cents per share, a year earlier.

The company also raised its full year revenue guidance for 2015 to $12.33 billion, up at least 20.1 per cent compared to 2014.

Rivals such as Cognizant Technology Solutions Corp and Infosys have also sharpened focus on the healthcare sector on hopes the implementation of the US. Affordable Care Act would boost outsourcing opportunities.

The IT services company's net income rose to US $362.9 million, or 59 cents per share, in the fourth quarter ended December 31, 2014.

The Nasdaq-listed company has reported revenues of $2.58 billion for its third quarter, up 2.5 per cent over the April-June quarter.

Through this transition, Vorwerk Group will be able to standardise and centralise its IT environment to a higher degree, while driving down costs, Cognizant said in a statement.

The privately held TriZetto, based in Englewood, is a leading provider of healthcare IT software and solutions.