Recovering economy brightens Diwali for IT majors

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Diwali
Bangalore, Oct 17: In contrast to the dull 2008 Diwali following the collapse of the Lehman Brothers leading to one of the world's worst economic crisis, Indian IT is all set for a bright 2009 Diwali.

Firms in the software and IT hub, Bangalore is in an upbeat and energetic mood that says 'much better, with the worst behind us', say reports.

"The mood is very positive. We have had a good quarter. We promised a salary hike to our employees from October 1 and that is already on the roll," the HR Head of IT major Infosys, Mohandas Pai was quoted as saying in a news agency report.

Also backed by recovery economy, another Bangalore-based IT behemoth Wipro exuded similar festive spirit.

While Infosys Q2 beat expectations the company has also given encouraging guidance for the Q3, Wipro is celebrating the 'festival of lights' with better signs from the markets.

OneIndia News

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