The top 10 valued firms added a total Rs 1,56,317.17 crore to their market valuation last week, helped by across the board rally which catapulted the benchmark index Sensex to the record 60,000 mark for the first time. During the last week, the 30-share BSE benchmark rallied 1,032.58 points or 1.74 per cent. The BSE Sensex made history on Friday by reaching the 60,000-mark for the first time ever. The market capitalisation (mcap) of Reliance Industries zoomed Rs 58,671.55 crore to reach Rs 15,74,052.03 crore. The m-cap of RIL went past Rs 16 lakh crore mark in intra-day trade on Thursday following a rally in its share price.
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.
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
Rishi Sunak, who is set to be Britain's first Indian-origin prime minister, recently said that he wants to change the United Kingdom-India relationship to make it a more two-way exchange that opens up easy access to UK students and companies in India.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
Vani Kola, Karthee Madasamy, T V Mohandas Pai also invest in the media startup
The Central Board of Direct Taxes (CBDT) has extended various tax returns filing deadlines till December 31 this year but it will continue to levy interest on delayed payments made after July 31, the original due date. Officials say tax payment has to be done through net banking, and the assessee doesn't need to use the e-filing portal, which has been facing glitches. So, taxpayers have to bear the interest payment liability of 1 per cent per month on the outstanding tax for those who filed a return after July 31.
Nilanjan Roy spent 13 years with Bharti Airtel, prior to which he worked for 15 years with Unilever across their global operations.
Vemuri holds about 400,000 shares in IGATE which, at an offer price of $48 apiece, will give him $19.2 million
Despite Covid downturn, CEO salaries went up by an average of 19% in FY21.
Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
Equity investors became poorer by over Rs 9.75 lakh crore in two days of heavy decline in the equity market, with the Sensex plunging 1,457 points on Monday. The 30-share BSE benchmark tanked 1,456.74 points or 2.68 per cent to settle at 52,846.70 on Monday. It had ended 1,016.84 points or 1.84 per cent lower at 54,303.44 on Friday.
Arghyam Foundation on Monday said Rohini Nilekani has decided to retire from the foundation as Chairperson and member of the board on September 30, 2021. She will be succeeded by Sunita Nadhamuni, currently a member of the board at Arghyam and Head of Digital LifeCare, Dell Giving and Social Innovation at Dell Technologies. Rohini Nilekani, the wife of Infosys co-founder and chairman Nandan Nilekani, had set up the foundation in 2001 as a vehicle for her personal philanthropy.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
British Indian former Cabinet minister Rishi Sunak maintained his lead as the race to replace Boris Johnson as Conservative Party leader and next UK prime minister widened on Sunday with a total of nine candidates in the fray, with Trade Minister Penny Mordaunt emerging as an early second favourite.
The whistle-blower may strongly feel about the issues he had raised.. the regulator will follow the due legal process and decide, Balakrishnan said.
Dr Reddy's, Maruti, Bharti Airtel, Bajaj Auto, Infosys, TCS and Bajaj FinServ were the major losers. On the other hand, IndusInd Bank, Sun Pharma, ICICI Bank and HDFC Bank ended with gains.
If elected, 42-year-old Sunak will go on to make history as the first Prime Minister of the UK of Indian heritage.
Stating that he has no intention to become CEO of the company, he said the future strategy of Infosys will be aligned with global developments and he sees tremendous opportunity in software data and machine learning.
Murthy's charges, he said, are patently false and slanderous.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
The new chairman of the country's second-largest IT firm acknowledged that he is an "admirer" of Murthy, saying the "iconic visionary" is the father of corporate governance in India.
he Aam Aadmi Party will host a fundraising dinner in Bengaluru on March 15 during AAP chief Arvind Kejriwal's two-day visit to the city.
Two hours on a platform. Even a dead person has got right to dignity under the Constitution. Even after death the girl's dignity cannot be denied. Why it was lying like an exhibition for more than two hours? It speaks volumes. Why it should take so much time for police to complete the formalities?" the court asked.
The government on Thursday extended the deadline till December 31 for filing of income tax returns by individuals for the financial year 2021, amid the coronavirus pandemic and technical glitches in the IT portal. Earlier, the deadline was extended to September 30, 2021. Usually, the last date for filing the ITR (Income Tax Returns) for the individual taxpayers is July 31. "On consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961, Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22," the finance ministry said in a statement.
Top Indian IT firms, such as TCS, Infosys, and Wipro, have signalled taking aggressive cost take-out measures, including reduction in sub-contracting costs, travel expenses, freeze in salary hikes, and holding back variable payments, among others.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
Ayan Pramanik reports on former Infosys CFO V Balakrishnan's fintech firm, which aims to make borrowing easy for small firms and individuals.
Indian companies seem to be trailing behind. They will have to catch up by reskilling the workforce and ramping up investments.
Over the last years, taking the helm at Infosys has always had a strong resemblance with taking a roller-coaster ride
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
Retention of Murthy within the promoter group was crucial for Infosys as the company believed the promoters' relationship would help the company in difficult times.
'There will only be an institutional solution between the board and the founders to take Infosys forward.'
Rishi Sunak on Monday is all set to make history on Diwali as Britain's first Indian-origin prime minister after being elected unopposed as the new leader of the governing Conservative Party, following Penny Mordaunt's withdrawal from the race.
Infosys is likely to report strong revenue growth in the fourth quarter of FY19 on the back of momentum in the big deal space.
With the former prime minister stepping aside on Sunday night saying it was "simply not the right time" for his comeback, the prospect of a Diwali victory for Sunak cannot be ruled out.
The Bengaluru-based firm has also inducted founder and CEO of Surya Software Systems D N Prahlad as an independent director on its Board, effective October 14, 2016.
Infosys will focus on stabilisation in FY19 followed by building momentum the following year, and acceleration thereafter.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
In cases such as Infosys, a new CEO will have to play the game with not only the chairman, but also with the COO and the board of directors, and perhaps retired founders, each being a different game with different set of capabilities and attitudes.
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