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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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He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
'I've faced the camera with lots of co-stars, exceptional ones, exceptionally bad ones, catty female co-stars, bratty child actors, but Panchamda was easily the most challenging co-star I've ever worked with.'
Infosys, in 2019, was given the contract to develop the new portal. It was launched in June last year and stakeholders had reported glitches and difficulties in the functioning of the portal. "On the I-T project, we are extremely proud that as of December 31, as was reported, 5.8 crore returns were filed through that timeframe.
IT major Infosys Ltd on Thursday reported a 7 per cent rise in first quarter net profit and raised its growth outlook for the current financial year. The consolidated net profit of Infosys increased to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore in the same period a year back, according to a stock exchange filing by the company.
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2019, however, will be a bigger test as the firm continues to deal with rising attrition and margin pressure.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
Asha Parekh seemed to be in good humour as she took her first dose of the COVID vaccination at a Mumbai hospital.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
It is, thus, logical that some compensation is paid to a lender, especially when a customer is poached within two years, Parekh noted.
The low-profile CEO started his new innings with the new year.
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The FMCG industry hopes for a revival in consumption growth in 2025 with some 'green shoots' already visible, after having a challenging year amid escalating input costs and a double-digit rise in food inflation, which ultimately slowed down the pace of the urban market growth in the second half of 2024. Soaring prices of commodities such as palm oil, coffee, cocoa and wheat forced FMCG players to go for a hike of 3 to 5 per cent or resort to shrinkflation by reducing pack sizes and grammage to retain attractive price points, fearing a volume loss.
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.
While student housing, retirement homes, and co-living spaces are going to be new realty growth drivers, Parekh also said foreign investors have also been investing in a big way in good commercial projects, while warehousing is another segment where they are showing keen interest.
In Parekh, an IIT-Bombay and Cornell University alumnus, Infosys may have finally found a person who will grab the market opportunity with good execution.
Rediff readers tell us how the festival keeps tradition alive and brings their community together.
The chairman of mortgage giant HDFC Ltd in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online.
The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services. However, concern about the macro-environment continues to be a challenge. Among the top four - Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro - it is Bengaluru-based Infosys that has performed the best and that was evident in its full-year revenue guidance.
Ketan Parekh, an accused in several cases of stock market manipulation, has been convicted by a special CBI court in Mumbai for cheating and sentenced to two years rigorous imprisonment.
Tainted stock broker Ketan Parekh and 8 of his associates received a blow, when the Supreme Court dismissed their appeals against a Sebi order banning them from trading for 14 years.
Film folk queued up to watch Kartik Aaryan perform in his first biopic, Chandu Champion, directed by Kabir Khan, in the film's special screening in Mumbai.
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Leading Mumbai stockbroker and allegedly the chief conspirator in the Rs 120 crore (Rs 1.20 million) scam at Calcutta Stock Exchange in March 2001, Ketan Parekh, was on Saturday granted bail by the Chief Metropolitan Magistrate.
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Parekh in a video address to employees expressed delight on leading the iconic company
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A Kolkata court on Thursday rejected the bail application of leading stock broker Ketan Parekh and extended his judicial custody till April 19.\n\n\n\n
This is the first deal by an Indian startup after the sector was opened to private companies in 2020.
The country's largest housing finance company HDFC Ltd will merge with the country's largest private sector lender HDFC Bank, according to a regulatory filing. The scheme of amalgamation will be subject to various regulatory approvals, including from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi), HDFC Bank said in the filing on Monday.
'Ram Mukherjee was kind, gentle and attentive. He knew his job even though Hum Hindustani was his directorial debut.'
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