IT major Cognizant's subsidiary TriZetto has slapped a lawsuit on Infosys in a US federal court, accusing the Bengaluru-headquartered company of stealing trade secrets and information related to healthcare insurance software. Infosys, in a statement, denied all allegations. The company asserted it is aware of the lawsuit and will defend its position in the court.
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
External investigators say case of 'gender insenstivity'.
A readout of the meeting reportedly said Lord Johnson "made clear that he was keen to see a bigger Infosys presence in the UK and would be happy to do what he could to facilitate that".
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.
With Infosys reportedly increasing the pay packages of senior executives, including executive vice-presidents and a few vice-presidents, threefold, the Indian information technology (IT) services space might well get a new benchmark.
Head of Infosys' European arm, Srinjay Sengupta, has joined technology and operations firm iGATE Global Solutions as its chief sales officer, iGATE announced on Thursday.
IT major Infosys and Microsoft have entered into a multi-year strategic engagement with Ausgrid to accelerate the cloud transformation of the largest electricity distributor on Australia's east coast. This programme will further Ausgrid's vision to connect communities and empower lives with a focus on affordability, reliability and sustainability, Infosys said in a regulatory filing on Monday. "With over 4 million Australians relying on our services every day, it is essential we are maintaining our high standard of reliability and connectivity, as well as delivering on the expectations of Australian communities," Nick Crowe, acting CIO at Ausgrid, said.
The COVID-19 pandemic has pushed demand and clients understand that every work does not have to be done onsite, which is expected to open a lot more offshoring opportunities from large global markets going forward, according to a top Infosys' executive. The Bengaluru-based company, which logged a 23 per cent jump in its December 2021 quarter revenue, also said its portfolio of services and capabilities, especially on cloud and digital, are resonating well with clients and it sees a good pipeline for that. "In the long run, if you see, COVID-19, while it had a huge impact on demand, the entire ability for the supply side to deliver in a remote environment really will shine up, and that has opened up the eyes of many of our clients that every work does not have to be done onsite.
Under fire for technical glitches plaguing the new income tax return filing portal, Infosys CEO Salil Parekh on Wednesday said the new portal developed by his company is seeing "steady progress" and already 1.9 crore returns have been filed. He further said that taxpayers' concerns are being "progressively addressed". "We are seeing a steady progress on the income tax system. As of yesterday we had over 1.9 crore returns that have been filed using the new system.
The tax portal problem is a goof-up by both sides, and making Infosys the only villain in the story is quite unfair, argues Shyamal Majumdar.
Proxy advisory firms say the praise on Twitter was uncalled for.
Infosys chief N.R. Narayana Murthy has said the company is looking at reducing the number of top officials and subcontractors at onsite locations in a bid to reduce operational costs, according to Barclays.
The company is reaping the benefits of change as focus shifts back to traditionally-profitable businesses and deal volumes.
She was among the key executives brought in by Sikka from SAP and was overseeing large deals
According to sources privy to the development, Murthy has chosen a team of four senior executives -- former Infosys India business unit head Binod Hampapur Rangadore, Ranganath D Mavinakere, Deepak Padki and Rohan Murty.
Companies are expected to firm up their business plans for the second half of the year.
The Infosys co-founder, who was brought back to head the firm in June last year, also expressed unhappiness over the laggard performance in the last two years.
We have to walk a very fine line between our desire to mobilise more and more taxes or having higher percentage of taxes, he says
The National Association of Software and Services Companies (Nasscom) on Saturday welcomed re-appointment of N R Narayana Murthy as Infosys Executive Chairman, saying his insights into the company and the technology industry would be valuable.
Infosys executive co-chairman and president of the Confederation of Indian Industries Kris Gopalakrishnan on Friday heaped praise on Gujarat Chief Minister Narendra Modi, describing him as 'a global leader'.
Company's co-Chairman S Gopalakrishnan says uncertainties continue as unexpected events happen
Infosys felicitates outstanding researchers in various fields.
Infosys executive co-chairman Kris Gopalakrishna today said IT industry should create new products and revenue streams to achieve the $300 billion revenue target by 2020.
The revenue of Indian IT sector for 2011-12 is pegged at $100 billion with over 70 per cent of IT exports in US and Europe.
Infosys Ltd will set up a new campus at Technocity here, estimated to cost Rs 600 crore (Rs 6 billion), providing a boost to the IT sector in the state.
Infosys will be a strategic partner under Deutsche Bank's Supplier Partnership Programme.
Infosys says further deterioration of economic conditions in US and Europe could hit the domestic IT sector.
"Year-after-year, the IT companies remove and sack professionals and simultaneously hike their top executives' salaries in the name of fancied compensation based on variable pay and stock incentives," FITE general secretary AJ Vinod said.
The development comes amid Japan's SoftBank booking an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in Ola and e-commerce company Snapdeal.
Calling Infosys' performance in 2013-14 "stellar", "laudable" and "creditable", the co-founder said the task ahead was "simple to state": Achieve sector-leading growth.
Seven years ago, Ravishankar Venkateswaran heard a story during a bus ride.
Amidst the outrage among certain Satyam employees to Infosys Co-Chairman and Chief Mentor N R Narayana Murthy's statement last week that Infosys would not recruit employees from the disgraced IT firm based in Hyderabad, top Infosys executives on Tuesday stood by their stand. They also couched their views on the Satyam scam in decidedly softer terms. Infosys said that the accounting scandal at Satyam did not call into question the competence of its (Satyam) employees.
Narendra Kumar Patni, pioneer of India's information technology (IT) services revolution, passed away in the US.
In his blog, sikka said, "It is clear to me that despite our successes over the last three years, and the powerful seeds of innovation that we have sown, I cannot carry out my job as CEO and continue to create value, while also constantly defending against unrelenting, baseless/malicious and increasingly personal attacks."
Exuding confidence in Narendra Modi's leadership, IT industry veteran NR Narayana Murthy today said the new Prime Minister is "in a position to change the course of dialogue" on US visas for the over $118 billion industry.
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 has been demanding SEZ status to start its Bengal campus, but the state government has been against providing it.
'Pravin Rao's commitment and contribution to the company has been immense, and his partnership over the past three years has been critical to the successes and growth of our company,' said Vishal Sikka, chief executive officer at Infosys.
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