Starting its journey with a gross revenue of $5 million during its stock market debut on June 14, 1993, Infosys has reached dizzying heights, with a revenue of $10.93 billion in 2017-18
Enthused by Prime Minister Manmohan Singh's proposed visit to world's premier New York Stock Exchange on Wednesday, analysts say it will have a 'positive impact' and revive India Inc's dream for overseas listing.
This is the first time ICICI Bank has gone for a share split.
Citing some news reports about alleged unfair business practices, and that the lender had also missed analysts' estimates on profits for the first quarter ended June FY21, Rosen Law Firm said it is preparing a securities lawsuit.
In the past few days, many companies, including fashion e-tailer Nykaa, food delivery platform Zomato, logistics and delivery firm Delhivery, insurance discovery platform PolicyBazaar, eyewear retail chain Lenskart, and edtech and online tutoring firm Byju's, have openly spoken about their IPO plans.
In a bonanza to its shareholders, country's third largest IT firm Wipro on Thursday said it will buyback up to four crore shares worth around Rs 2,500 crore (Rs 25 billion).
The law firm had specifically named the bank's chief executive and managing director of over 25 years, Aditya Puri, his designated successor Sashidhar Jagdishan and company secretary Santosh Haldankar as defendants.
Foreign institutional investors (FIIs)' stake in Infosys is nearing historic highs. During the quarter ended September, they bought 6.38 million Infosys shares for Rs 2,236 crore, raising their stake 1.1 per cent, data show.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
Balakrishnan, head of the BPO, Finacle and India business units at Infosys, is widely seen as a contender for CEO after the incumbent S D Shibulal's term ends in 2015.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
The country's most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this - the diminishing premium of HDFC Bank's American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium has shrunk to below 5 per cent, down from over 30 per cent in March 2021, and even lower than recent levels.
While growth metrics for Infosys was skewed to a single vertical and it is struggling to get a handle on costs, TCS has been able to manage growth and keep cost inflation under control.
Banks stocks continued to trade weak along with FMCG major ITC.
'It's the brazen corruption involving politicians that makes you sit up years after the event,' notes Nivedita Mookerji after reading B K Syngal's Telecom Man.
Its being offered under the restricted stock unit plans of 2005 and 2007
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
Forty years on, ironically, the managerial attention to new businesses has meant almost 40 per cent of revenues now come from the non-tobacco business.
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta.
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