The boards of Mahindra Satyam and Tech Mahindra last year proposed a swap ratio of 2:17. Mahindra Satyam shareholders will get two shares of Tech Mahindra of Rs 10 each for every 17 shares they hold.
Move over 3D, 4D and 5D. Cinema is now eyeing the metaverse experience. On February 15, Bollywood producer Vashu Bhagnani's production company, Pooja Entertainment, forayed into the metaverse and bought its first piece of virtual land. The space, called Poojaverse, will be a virtual area where the company will create an immersive experience for moviegoers, starting with BadeMiyan ChoteMiyan, starring Akshay Kumar and Tiger Shroff. Promotional events for the film, slated for release on Christmas 2023, will be held in the metaverse, says the company. The metaverse might still be in its infancy, but producers like Deepshikha Deshmukh say, "The ecosystem will only grow from here. "Metaverse will soon be the go-to place for everything virtual related to films."
Infosys on Thursday posted a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore in March quarter of FY23, and gave 4-7 per cent revenue growth forecast for FY24 amid macro economic uncertainities. The net profit (after minority interest) stood at Rs 5,686 crore in the fourth quarter of FY22. Seen sequentially, the net profit for Q4 came in 7 per cent lower.
Tech Mahindra was the top laggard in the Sensex pack, followed by Tata Steel, Mahindra and Mahindra, HCL Tech, Infosys, SBI and Bajaj Finance.
While Bajaj Finance, Asian Paints, Tata Steel, NTPC and SBI were among the other gainers, ONGC, Axis Bank, Tech Mahindra, Infosys and ICICI Bank were among the laggards. NSE Nifty advanced 82.75 points or 0.73 per cent to settle at 11,470.25.
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
Magnus Carlsen of SG Alpine Warriors defeated Viswanathan Anand and launched his team to the top of the Tech Mahindra Global Chess League in Dubai on Wednesday.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
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