Infosys staff  at the company headquarters in the southern Indian city of Bangalore:  The company had nearly 250,000 employees as of the end of December 2020.   © AP

Infosys revised upward its year-on-year revenue growth and operating margin guidance for the financial year ending March to 4.5% to 5% and 24% to 24.5%, respectively, from 2% to 3% and 23% to 24% in their previous estimates, on the back of the strong December quarter performance.

Global corporations have reevaluated their IT strategies, which augurs well for not just Indian IT companies but some of their global peers as well, such as Accenture and Capgemini. Experts expect growing IT demand from Europe, although the U.S. will remain the biggest source of clients for Indian IT companies.

In late December, Infosys and German automaker Daimler, announced a partnership in cloud computing and IT infrastructure transformation. " As a part of this partnership, automotive IT infrastructure experts based out of Germany, wider Europe, the U.S. and the APAC region will transition from Daimler AG to Infosys," the companies said in a joint statement.

During the latest quarter, Infosys signed $7.1  billion of large deals, adding 139 new clients to its kitty. " The scale of new client partnerships with leading global companies such as Vanguard, Daimler and Rolls-Royce demonstrates the depth of digital and cloud capabilities of Infosys," said CEO and MD Salil Parekh.

Meanwhile, TCS agreed to expand its partnership with the Star Alliance, the world' s largest airline alliance, in December. " With TCS, we look forward to accelerating the development of new enterprise applications and customer features, and deploying machine learning models, to allow us to introduce new services," Star Alliance CEO Jeffrey Goh said in a statement.