IT services firm Infosys has said that a global company has decided to terminate a multi-year contract worth $1.5 billion with it. On September 14, 2023, Infosys announced a pact with a global company to offer enhanced digital experiences alongside modernisation and business operations services leveraging Infosys platforms and AI (Artificial Intelligence) solutions. In a BSE filing on Saturday, Infosys said the global company has now elected to terminate the Memorandum of Understanding (MoU) and the parties will not be pursuing the master agreement."
While TCS cited evolving business needs and future readiness as reasons, industry experts say the action is a cost-cutting measure aimed at improving operating margins that have remained below the firm's aspirational range despite multiple efforts.
Benchmark equity indices Sensex and Nifty surged more than 1 per cent on Monday, registering their fifth day of rally on the back of buying in banking and IT shares after encouraging quarterly earnings and foreign fund inflows. The 30-share BSE Sensex jumped 855.30 points or 1.09 per cent to settle above the 79,000 mark at 79,408.50.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
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".
Ekagrah Rohan Murty, NR Narayana Murthy's five-month-old grandson who was gifted a whopping 15 lakh shares by the Infosys founder recently, is set to earn Rs 4.20 crore, thanks to the Bengaluru-IT company declaring a bumper final and special dividend totalling Rs 28 per share. Murthy had gifted 15 lakh shares to Ekagrah valued at a staggering Rs 240 crore at that time, making the five-month-old the youngest millionaire shareholder of India's second-largest IT company.
Among Sensex firms, Tech Mahindra, HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel were the major laggards. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers.
Among Sensex firms, Eternal, Infosys, Tata Consultancy Services, Tech Mahindra, Reliance Industries, Asian Paints, HCL Tech and Adani Ports were the laggards. Power Grid, Bajaj Finance, NTPC, State Bank of India and IndusInd Bank were among the gainers.
Mid-tier information-technology (IT) companies last financial year reported better growth numbers than their larger counterparts, highlighting their ability to navigate the uncertain macroeconomic environment. Most of these companies - such as Persistent Systems, Coforge, KPIT, and Mphasis - focus on niche businesses and industries that allow them to go deeper in terms of client mining and expanding wallet share from existing customers.
'Keeping a bench increases cost. If you keep a bench, the skills may not remain relevant.' 'In the future, bench strength will literally be zero.'
Some major contracts coming up for renewal include TCS' deals with Star Alliance, a consortium of airlines based in Germany, and Nielsen; Infosys' deals with GE Appliances and Daimler; HCLTech's with UK-based life insurer Chesnara; Wipro's with German electric utility company E.ON and Petrobras of Brazil; and Tech Mahindra's with Circle Health.
Among Sensex firms, Asian Paints, Bajaj Finance, Tata Steel, Bajaj Finserv, ICICI Bank, Maruti, Reliance Industries, HDFC Bank and Mahindra & Mahindra declined. Tech Mahindra, Tata Motors, Infosys, HCL Tech, IndusInd Bank and UltraTech Cement were among the gainers.
From Sensex firms, Eternal dropped the most by 4.10 per cent. Maruti, Mahindra & Mahindra, UltraTech Cement, Power Grid, Nestle, Bajaj Finance, Hindustan Unilever and Asian Paints were also among the laggards. HDFC Bank dropped by 1.26 per cent and index major Reliance Industries by 1.13 per cent. Tata Steel, Infosys and ITC were the gainers.
The book also mentions how Murthy was averse to his wife joining Infosys despite being a fine engineer who knew she could contribute far more solidly to the company than helping with only the odds and ends that her husband assigned to her.
HCL Tech, State Bank of India, Infosys, Tech Mahindra, Tata Consultancy Services, Bajaj Finserv, Larsen & Toubro, Mahindra & Mahindra and Titan were also among the losers in the Sensex pack. Eternal, Hindustan Unilever, Asian Paints, ITC, Tata Motors and NTPC were among the gainers.
The combined market valuation of the top-ten most valued firms jumped by a whopping Rs 3,84,004.73 crore in the holiday-shortened last week, in-tandem with a smart rally in equities, with HDFC Bank and Bharti Airtel emerging as the biggest gainers. Last week, the BSE benchmark Sensex jumped 3,395.94 points or 4.51 per cent, and the NSE Nifty surged 1,023.1 points or 4.48 per cent.
From the Sensex pack, ITC, Hindustan Unilever, Mahindra & Mahindra, HDFC Bank, Eternal, Kotak Mahindra Bank, State Bank of India and ICICI Bank were the major gainers. IndusInd Bank, Power Grid, Bharti Airtel, Infosys, and Bajaj Finserv were among the laggards.
Novak Djokovic moved to the brink of his 100th tour-level title after recovering from a second-set blip to beat British qualifier Cameron Norrie 6-4, 6-7(6), 6-1 in the Geneva Open semi-finals on Friday.
From the Sensex firms, Infosys declined by 3.54 per cent. Power Grid, Eternal, HCL Tech, Tata Consultancy Services, Bharti Airtel, IndusInd Bank, NTPC and HDFC Bank were the major laggards. Sun Pharma, Adani Ports, Bajaj Finance, State Bank of India and Tech Mahindra were the gainers.
From the Sensex firms, Tech Mahindra, Tata Steel, Tata Motors, Titan, HDFC Bank, IndusInd Bank, Infosys and Kotak Mahindra Bank were among the biggest laggards. On the other hand, Adani Ports, Mahindra & Mahindra, Power Grid, Eternal and Hindustan Unilever were among the gainers.
Infosys said on Tuesday it is collaborating with Microsoft to jointly develop industry solutions that leverage Infosys Topaz, Azure OpenAI Service and Azure Cognitive Services. Both organisations are bringing together their respective artificial intelligence (AI) capabilities to enhance enterprise functions with AI-enabled solutions across multiple industries. The integrated solutions are aimed at accelerating the rapid democratisation of data and intelligence that will help businesses increase productivity and drive new revenue growth.
HCL Tech, Adani Ports, Eternal, Maruti, Reliance Industries and Asian Paints were among the gainers. HDFC Bank, ICICI Bank, Bharti Airtel and Infosys added to the rally. IndusInd Bank emerged as the only laggard.
Stock markets will be driven by further developments on the US-China tariff war front along with quarterly earnings announcements from IT majors Wipro and Infosys in a holiday-shortened week, analysts said. Global market trends and trading activity of foreign investors would also dictate market movement this week, experts noted.
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Sector analysts in India feel that the new convention may not lead to a significant increase in the number of Indian employees being sent to the UK.
Tata Steel was the biggest loser in the Sensex pack, sliding 8.59 per cent, followed by Tata Motors, Larsen & Toubro, Adani Ports, IndusInd Bank, Tech Mahindra, Reliance Industries, Sun Pharmaceutical, HCL Technologies, Tata Consultancy Services, Infosys, and NTPC, were the major laggards. On the other hand, Bajaj Finance, HDFC Bank, Nestle India, ICICI Bank, ITC, Asian Paints and Axis Bank were among the gainers.
From the Sensex firms, Tata Steel, Eternal, Tech Mahindra, Maruti, Mahindra & Mahindra, Infosys, IndusInd Bank, HCL Tech, Tata Consultancy Services and Bharti Airtel were the major gainers. Telecom operator Bharti Airtel climbed nearly 1 per cent after it posted about a five-fold jump in consolidated net profit to Rs 11,022 crore in the March 2025 quarter, mainly due to the tariff hike impact and one-time gain on tax benefits. However, Asian Paints, Tata Motors, Kotak Mahindra Bank, NTPC and Power Grid were among the laggards.
'Our phones are taken away as we enter the room.' 'They are just asking us to sign without any discussion. If you ask for a discussion, they say, 'Sign first'.'
IT company Infosys on Thursday posted a 7.3 per cent decline in consolidated net profit at Rs 6,106 crore in the third quarter of the current financial year. The company had posted a net profit (attributable to shareholders) of Rs 6,586 crore during the same period a year ago, Infosys said in a regulatory filing. Consolidated revenue from operations of the company increased marginally by 1.3 per cent to Rs 38,821 crore during the quarter under review from Rs 38,318 crore in the year-ago period.
The time is up for the over three-decades-old business model with the advent of artificial intelligence, HCL Technologies' chief executive C Vijayakumar said on Monday. Speaking at industry lobby grouping Nasscom's annual NTLF event in Mumbai, Vijayakumar said companies need to be "paranoid", given the wide-ranging impact of AI and stressed that this attitude will help them to be relevant and grow. "I strongly believe that the business model is ripe for disruption.
From the Sensex shares, IndusInd Bank jumped 7.12 per cent. Axis Bank, Adani Ports, Asian Paints, Bharti Airtel, State Bank of India and ITC were also among the gainers. Maruti, Infosys, Tata Motors, Larsen & Toubro, NTPC and Bajaj Finance were among the laggards.
Cognizant has said it aims to be back among India's top four IT services companies by 2027 by improving revenue, market share, bagging large deals, and gradual margin expansion. The Nasdaq-listed company does a major part of its business in India, but has trailed peers such as Tata Consultancy Services and Accenture over the last few years as growth tapered, margins squeezed, and attrition soared.
United States, the largest market for the $282 billion Indian IT sector, is a "wild card" for the industry, lobby grouping Nasssom's president Rajesh Nambiar said on Monday. Speaking to reporters Nambiar said the tariff threats by the US may turn out to be the biggest headwind for the sector. "Broadly, if you were to look at the headwinds, the biggest unknown there would be the tariffs and the impact of what happens in the US market," Nambiar said.
Bengaluru-based Infosys has announced that 80 per cent of the variable pay will be distributed to eligible employees for the quarter ending June 30, according to media reports. This amount will be included with the August month's salary. In contrast, Infosys had paid out 60 per cent of the variable pay in the fourth quarter of financial year FY23.
However, Tata Consultancy Services, Infosys, Tech Mahindra, UltraTech Cement, IndusInd Bank, Hindustan Unilever and ICICI Bank were the gainers.
From the Sensex firms, Eternal, Mahindra & Mahindra, Maruti, Bajaj Finance, Tata Steel, Bharti Airtel, Bajaj Finserv, Asian Paints, Power Grid and State Bank of India were among the laggards. Kotak Mahindra Bank, Axis Bank, Titan, HCL Tech, Tata Motors, Infosys and Tata Consultancy Services were the gainers.
'When I told Mr Narayan Murthy, he said it was great that I was following my dream.'
From the Sensex firms, Adani Ports, Eternal, Bajaj Finance, Axis Bank, Bajaj Finserv, Reliance Industries, Power Grid and NTPC were the major gainers. Sun Pharma, however, tanked over 5 per cent.
Indian-origin tech companies cornered a fifth of all H-1B visas issued by the US with Infosys and Tata Consultancy Services leading the pack, an analysis of data from the US immigration department showed. According to data from the US Citizenship and Immigration Services, in April-September 2024 period, out of the total 1.3 lakh H-1B visas issued to different employers, about 24,766 visas were issued to Indian-origin companies.
'Binary fission will happen -- startups will lead to more startups.'
