The new CEO's next challenge is to grow margins.
State-un insurer LIC has pared its stake in Infosys to 5.96 per cent, reducing its holding in the IT major in the last quarter with an estimated sale of shares worth over Rs 2,000 crore.
Infosys on Tuesday became the fourth Indian company to touch a market valuation of $100 billion. The IT services major has joined the league of TCS, Reliance Industries and HDFC Bank for crossing the $100 billion-mark in terms of market capitalisation (m-cap). The milestone was achieved during the morning trade when the scrip was trading at its 52-week high value of Rs 1,755.6 on the BSE, which took the m-cap to Rs 74.77 lakh crore or $100.78 billion.
What is perhaps most fascinating is that Infosys was not the first large Indian IT company to raise its head, nor has it been the largest; but it has often shown a remarkable ability to market itself so that it has punched above its weight.
Company appoints Parvatheesam K as compliance officer.
March was the first full quarter for Infosys under its new CEO Salil Parekh.
The low-profile CEO started his new innings with the new year.
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
Infosys, however, cut 2017-18 revenue growth guidance to 5.5-6.5 per cent from 6.5-8.5 per cent in constant currency.
Infosys is likely to continue on a high-growth path. As the company moves up the value chain, due to higher billing rates earned, revenues are expected to grow.
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
Infosys said it is in discussion with over 10 institutions globally for deploying the solution
Infosys on Thursday said it is "seriously looking" at acquisitions as the company understands the importance of growth through buying out other companies.
N R Narayana Murthy's speech is an absorbing study on how great companies can be hurt if the right decisions are not taken.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
Will Infy spring a surprise in subdued second quarter?
Brokerage firm says recovery under Narayana Murthy to take longer than expected; stock dips 3%.
Infosys usually gives a wage rise to employees every April.
After posting double-digit growth for the fourth consecutive quarter, chief executive officer and managing director Salil Parekh tells Yuvraj Malik and Debasis Mohapatra that the firm is not facing any delay in ramping up of large deals.
Maruti was the top loser in the Sensex pack, shedding around 4 per cent, followed by Bharti Airtel, HUL, NTPC, Bajaj Finance, UltraTech Cement, ONGC and Reliance Industries. NSE Nifty declined 224.50 points to 14,324.90.
Infosys has cash in excess of $6.1 billion, which would come down by one-third after the payouts.
Infosys continues to be interested in acquisitions.
Infosys is an ethical company with solid processes that respects its customers and this is not going to affect their business, he added.
Nilekani says life has come a full circle for him, as he heads back to the company he co-founded over three decades ago.
Stamp of approval on CEO's strategy and long-term goal for the company
The proposed campus will come up on around 125 acres, which the company will acquire from airport authorities, and would house as many as 3,000 employees.
Weeks after NR Narayana Murthy returned to Infosys, the country's second largest software exporter on Tuesday saw its global sales and marketing head Basab Pradhan quitting the company.
Infosys president and board member B G Srinivas has resigned, the company said on Wednesday, the latest in a series of senior management exits at India's second-largest software services exporter.
In the seventh top level exit in six months at Infosys, Subrahmanyam Goparaju, Senior Vice President and a member of the Executive Council that frames business strategy, has resigned.
Infosys will be handing over a prize of Rs 5 lakh to 20 entrepreneurs every year.
The first option that the state government might opt for is offer Infosys space in one of the SEZs that are coming up, but that is unlikely to be accepted
All major Indian IT services providers are keenly watching US President Donald Trump's potential actions on immigration law. Ayan Pramanik reports.
Last year, salary increases were given only in October, when the company came under pressure from increments offered by peers.
The US legal action is likely to further strengthen public opinion, at a time of high unemployment, against information technology outsourcing -- which is seen to take away jobs from locals.
The company said the transaction will be completed by December 16.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
Its revenue, however, grew 20.3 per cent to Rs 21,400 crore in the December 2018 quarter as compared to Rs 17,794 crore in the year-ago period.
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