The assignment was earlier given to global audit firm EY. But it has now been reassigned owing to 'certain conflict of interest', the Bengaluru-based company said.
A complex holding structure and unrelated businesses clubbed under one roof could have been the reasons that prompted investors to shun the stock, experts say. These are likely to impact the company's ability to raise funds, too, they add.
Among other things, the company is considering monetising the Global Village tech park located off Mysore Road in Bengaluru, for which private equity major Blackstone was said to have shown interest.
In his second year at the helm, Infosys CEO & MD Salil Parekh looks optimistic about the company's growth prospects. With stability back in the industry, Parekh, in an interview with Bibhu Ranjan Mishra and Debasis Mohapatra, says turbulence is over and Infosys is on its way to regaining its old glory.
While the leadership change in Mindtree is yet to happen, there's a buzz that the co-founders of the IT firm may float another company.
'There's a lot of continuity in terms of basic values and there's also a lot of new thinking based on the generational shift... it's a combination of continuity and change,' says Wipro Chief Executive Officer Abidali Neemuchwala.
Digital, cloud, engineering services, and cybersecurity will drive Wipro's growth. 'Based on approval from the board, we have decided to step up our investments significantly in these four big bets,' Premji said in his last address as executive chairman.
Though global IT services spending is likely to cross the $1-trillion mark to reach $1.031 trillion, growth rate will slow to 3.8% in 2019, compared to 6.7% last year according to reports
From Accenture to IBM, IT hiring is set to gain pace where most of these openings are for lateral hiring for people with 4-6 years of experience.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
With this rejig, Mindtree's board will now have 12 board members from eight.
The proposed annual quota for Indian companies could be between 10 and 15 per cent. Currently, there are no country-specific limits on H-1B allotment.
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
'His working style differs from his father as he is a quick decision-maker.'
People mostly say 'work hard and party harder', but Premji's concept is 'work hard and work harder'. With close to 70 per cent of his wealth pledged to charity, Premji is also the epitome of a true leader who makes a mark in giving back most of his wealth to society.
Such partnership will not only give the company an opportunity to showcase its expertise in new technology areas, they will also help in boosting its brand image with clients and employees
L&T is pursuing a controlling stake of 66 per cent in the mid-tier IT firm, for Rs 10,700 crore.
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
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