Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
Infosys is an ethical company with solid processes that respects its customers and this is not going to affect their business, he added.
Infosys continues to be interested in acquisitions.
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.
Stamp of approval on CEO's strategy and long-term goal for the company
India's second-largest software services firm expects its topline to grow 7.5 - 9.5 per cent in FY2019-20 in constant currency terms.
All major Indian IT services providers are keenly watching US President Donald Trump's potential actions on immigration law. Ayan Pramanik reports.
From the Sensex pack, Infosys jumped the most by 3.67 per cent. Asian Paints, HCL Technologies, Reliance Industries, ICICI Bank, Wipro, NTPC, Tech Mahindra, Bajaj Finserv and Larsen & Toubro were among the other major gainers. State Bank of India, Bajaj Finance, Titan, Tata Steel, Tata Motors and UltraTech Cement were among the laggards.
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
Benchmark equity indices continued their record-shattering spree on Tuesday, with the Sensex and Nifty hitting their fresh all-time high levels in early trade, amid persistent foreign fund inflows. Also, buying in Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and HDFC twins added to the positive market momentum. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 381.55 points to hit its all-time peak of 65,586.60 in early trade.
Among the Sensex firms, Tata Consultancy Services, Larsen & Toubro, Infosys, UltraTech Cement, ICICI Bank, Nestle, ITC and Sun Pharma were the major gainers. Power Grid, NTPC, Tata Motors, Tata Steel, Mahindra & Mahindra and Reliance Industries were among the laggards.
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.
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.
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.
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.
The British prime minister, who is of Indian origin, has often emphasised his Hindu roots and said he is proud of it.
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.
Design thinking refers to solving traditional tech problems using newer, different and innovative methods
Infosys, which is managing MCA21, has been facing flak from different quarters on the woes pertaining to the portal.
Last year, salary increases were given only in October, when the company came under pressure from increments offered by peers.
However, the second quarter of FY24 is expected to be muted, and, with that, the hope of double-digit growth is now being pushed to FY25. However, analysts are expecting the momentum in the closure of record total contract values (TCVs) will continue, as has been the case over the last two quarters.
The $140-billion Indian IT market is facing challenges on multiple fronts including stricter visa regime in key markets and shortage of skilled manpower for new technology areas like data science.
Titan surged 2.98 per cent, followed by IndusInd Bank, ITC, JSW Steel, Infosys, Tech Mahindra, Tata Consultancy Services and Maruti. Hindustan Unilever, Asian Paints, Bharti Airtel and HDFC Bank were among the laggards.
The recent sell-off in IT stocks such as Infosys and Tata Consultancy Services (TCS) has resulted in a sharp decline in the IT sector weighting in the Nifty50 index. The sector's weighting in the index has slipped to a five-year low of 12.2 per cent, down from the 17.7 per cent at the end of March 2022. The top IT companies - TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra - accounted for 13.6 per cent of the index at the end of March this year.
N R Narayana Murthy addressed Infosys staff on Thursday for the first time since taking charge of the beleaguered company as the executive chairman.
Sikka has influenced the company to break away from the old mould in more ways than one.
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
However, on the NSE, both ITC and Infosys had equal weight of 8.77 per cent.
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
The project is supported by the Department of Jobs through IDA Ireland.
The expansion comes in the wake of Infosys is planning to expand the workforce at Lodz delivery centre by 500 people.
The latest whistleblower complaint accusing him of pressuring finance team members to inflate profitability has come right out of the blue. There's another allegation that he made racist remarks against some board colleagues. For a man with a singular focus on the business and clients, all of this must have blindsided him.
Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.
The subsidiary, Infosys Technologies S. De RL De CV, will provide business consulting and information technology services for clients in all industries
Among the Sensex firms, Infosys, Bharti Airtel, NTPC, Tata Motors, IndusInd Bank, Bajaj Finance, ICICI Bank, Tech Mahindra, Titan and Axis Bank were among the major laggards. Tata Steel, State Bank of India, Mahindra & Mahindra, Maruti and Nestle were the gainers.
There will be work today, there will be work tomorrow, there will be work the day after, but nothing will make up for the eternal regret of not seeing a friend when he was dying.
Nia builds on Mana, the first AI platform introduced by the software services major last year. It also includes the robotic process automation capabilities of AssistEdge, another Infosys solution.
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