Co-founder of IT major Infosys N R Narayana Murthy and his author wife Sudha Murty cast their ballot for the Karnataka assembly elections on Wednesday and exhorted people to vote.
Infosys boss says new strategy moving in right direction, optimistic of regaining bellwether status.
The company's net profit stood at Rs 2,875 crore (Rs 28.7 billion) in the same period last year.
Describing Murthy as a business icon, T V Mohandas Pai, former CFO of Infosys, said he is more than eminently suited to hold the position of Chairman Emeritus.
Infosys' co-founder on multitasking at Infosys and the game-changers that made the company.
An Infosys employee is among those being held hostage by an unidentified armed man who stormed a downtown cafe in Sydney, the IT major said on Monday.
The company will have to retain independent auditor, do annual compliance review.
The Bengaluru-headquartered company, which derives close to 26 per cent of its revenues from Europe, mostly from the UK, believes this approach will help it increase its footprint in non-English speaking European countries.
Vishal Sikka, the new chief executive officer, is in the process of internally discussing and finalising the future course of action, chief operating officer U B Pravin Rao said on Tuesday.
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
Much below expected 10-12%; experts say attrition might increase.
The Bengaluru-based company, striving to return to sustained growth, is looking at different ways to reduce the cost structure, aiming to win large clients, said Rajiv Bansal, chief financial officer.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
Revenue rose 23.4 per cent to Rs 1,655 crore
The CEO's compensation included a fixed salary component of Rs 6.07 crore, variable pay of Rs 10.96 crore and perquisites worth Rs 7.64 crore.
In a breather to the troubled edtech company, the steering committee of lenders has agreed to amend a $1.2 billion term loan with Byju's by August 3, 2023, the lenders announced on Monday. Successful execution of the amendment would "immediately" solve the loan's acceleration and end all open litigation while avoiding further enforcement actions, they in a statement. An e-mail sent to Byju's did not elicit a response.
Group of ministers to review progress every fortnight.
Vishal Sikka talks about his chemistry with N R Narayana Murthy and about his plans to strengthen the leadership team.
The IT major had reported a net profit of Rs 3,398 crore in the year-ago period, it said in a BSE filing.
Infosys, India's third-largest information technology services company, is putting in all-out efforts to douse the visa fire that erupted almost six months ago, with the filing of a lawsuit by one of its United States employees, and is spreading wings further.
Infosys has already hired 20 such talent.
Bengaluru dominates Karnataka's economy and its infrastructure mess compounds the problems, with policies lagging need and expectations.
Infosys has been making bets on automation and other high-margin services like artificial intelligence to regain some ground
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
'A lot of the emphasis when we hire graduates is the learning for these new technologies -- whether it's cloud and digital data analytics, cybersecurity, or IoT, but also some of the new ones, such as Metaverse or other newer areas.'
IT major Wipro on Thursday reported a marginal year-on-year decline of 0.4 per cent in net profit to Rs 3,074.5 crore for the fourth quarter ended March 2023 and announced a share buyback of up to Rs 12,000 crore. The Wipro board approved the buyback of 26.96 crore equity shares at a price of Rs 445 apiece. "Board...of Wipro...has approved a proposal to buyback up to 26,96,62,921 equity shares, being 4.91 per cent of the total paid-up equity shares of the company, for an aggregate amount not exceeding Rs 120,00,00,00,000 at a price of Rs 445...per equity share," the company said a regulatory filing.
Infosys' consolidated revenue is up 13.3 per cent to Rs 12,770 crore in April-June quarter.
Infosys recently hosted its first-ever global hackathon, which was held across 20 locations and saw participation from over 1,100 employees.
"Raghavendran Ganesh -- We have tracked his last call in Brussels. He was travelling in the metro rail," Swaraj said in a tweet.
India accounted for 2.2 per cent of the revenues of Infosys.
Consolidated net profit rose to Rs 3,465 crore in its fiscal third quarter to December 31.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Catamaran, the family office of Infosys founder Narayana Murthy, is targeting 15 per cent returns on its portfolio investments per annum as it shifts focus from early-stage investments to growth and late-stage bets. This would double the firm's assets under management (AUM) from the current $1 billion to $2 billion over the next five years. "For direct investments, we are focusing on growth-stage investments and very selectively on early stage," Deepak Padaki, president, Catamaran, told Business Standard. "(This is) primarily because the early-stage space in India, in the last three-four years, has completely changed. "There has been a huge influx of capital in the last two years. It has become a very crowded space for early-stage investment," he said.
He takes over the CBI in challenging times. The perception is that the agency is reduced to being an instrument of blackmail and intimidation by successive governments.
The IT slowdown directly threatens the well being of other industries as well as India's IT cities. This impact has not necessarily been factored in, yet.
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
Infosys, TCS, HUL and Reliance Industries were the top gainers of the day.
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U B Pravin Rao explains how the company is executing the strategy.
The company's revenue rose 16 per cent at Rs 17,535 crore.
It is not that platforms and products are something that Infosys has not tried earlier.
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