From the Sensex pack, Bharti Airtel, Titan, Tata Consultancy Services, Hindustan Unilever, Infosys, Nestle, Reliance Industries, Mahindra & Mahindra, HDFC Bank and Tata Motors were the biggest gainers. However, IndusInd Bank, Bajaj Finance and UltraTech Cement were the laggards.
In yet another high profile exit at Infosys, India's second-largest information technology (IT) services company, Ashok Vemuri, head of operations (Americas) and global head (manufacturing and engineering services), has resigned.
The founders, who hold 12.75 per cent stake in Infosys, together with a dozen leading institutional investors with a cumulative stake of about 10 per cent forced the Infosys board to bring back Nilekani.
The time is ripe to accede to the founders' plea to declassify them as promoters.
'Such steps would be a barrier and something people do not want.'
Infosys did not disclose the nature of the information sought by Securities and Exchange Board of India.
CFO admits for the first time that some amount of conservatism has set in.
Wipro on Wednesday reported a 25.9 per cent year-on-year rise in consolidated net profit for the March quarter to Rs 3,569.6 crore, but warned of a weak quarter ahead with up to 3.5 per cent expected drop in IT services revenue for Q1FY26, amid global uncertainties. CEO and Managing Director Srini Pallia said clients remain cautious in the face of macroeconomic uncertainty.
'When I told Mr Narayan Murthy, he said it was great that I was following my dream.'
Infosys Technologies, India's second largest information technology services firm, has discontinued some of its loan schemes for employees.
Industry players said IT hiring was not as strong as it was in 2022. One reason is the high bench IT firms have due to earlier hiring.
Infosys HR head T V Mohandas Pai says "senior politicians" cutting across party and geographies call Infosys' top brass to recommend their candidates. While obliging these politicians their candidates are made to go through internal tests and "are hired only if they clear and satisfy our requirements."
Junking Murthy's claims, Infosys said the board did all it could to look into whistle-blower complaints of corporate governance lapses, particularly those related to acquisition of Panaya.
Infosys co-founder N R Narayana Murthy on Monday denied that he had withdrawn his concerns about governance lapses at the firm, saying the board has to address these "properly" and "full transparency should be displayed and people responsible for it should become accountable".
The move to set up the UID Authority of India, under the aegis of the Planning Commission, is aimed at providing a unique identity to the targeted population of the flagship schemes to ensure that the benefits reach them, information and broadcasting minister Ambika Soni told reporters here after the Cabinet meeting.
This time an anonymous whistleblower made an appeal to market regulator Sebi to probe an agreement made by the tech giant with some of its ex-directors.
Vishal Sikka who was made vice-chairman till his successor was appointed, also quit the board with immediate effect.
Infosys now plans to re-purpose Skava's micro services-based business and re-focus Panaya's suite of products.
The software major has plans to invest Rs 500 crore at Kolkata campus that will create employment for 5,000 professionals. The company is yet to get possession of 90 acres of land assured by the state government. West Bengal Chief Minister Buddhadeb Bhattacharjee on Thursday said that Infosys had shown apprehension about investing in the state following recent incidents in Singur where Trinamool Congress has been agitating against acquisition of farmland by the state governme
Infosys, the country's third largest software firm, on Thursday said it was undecided on going ahead with investment plans in West Bengal, where socio-political opposition has thrown Tata Motors' Nano project into uncertainty.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
The whistleblower, claiming to be an employee working in the finance department, said he was submitting a 'whistleblower complaint' unanimously as the matter stated was 'volatile' and that he feared retaliation on disclosing the identity.
Infy to cast wide net in CEO search, may go back to 'alumni'
India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing. Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
With revenue growth impacted and uncertainty deepening in major markets, India's second largest IT services firm, Infosys, saw a net reduction in its headcount in the fourth quarter of financial year 2022-23 (Q4FY23). Infosys' workforce saw a net reduction of 3,611 employees, bringing its total headcount to 343,234. This was also the first time in many years that the company did not provide a hiring target for the next fiscal.
The availability of domestic capital to fund startups and an ability to attract talent in the early days are among the biggest challenges faced by entrepreneurs, Infosys co-founder N R Narayana Murthy said on Thursday. "It is desirable to create a policy that makes it attractive for domestic institutions like family offices of HNIs (high net-worth individuals), insurance companies or large corporations to invest in venture capital funding," he said at the T N Chaturvedi Memorial Lecture 2024 in New Delhi's Prime Ministers' Museum and Library.
The matter pertains to the Rs 173.8 million severance offer given to former CFO Rajiv Bansal in October 2015 when he was allegedly forced to step down due to differences with then chief executive Vishal Sikka over the acquisition of Israeli technology firm Panaya for $200 million.
Nilekani has kept pace with technology advances, has been instrumental in digitalising the country, and is well-networked with the bureaucracy and global leaders
Punita is the founder and managing partner, Pacific Paradigm Advisors
Hectic buying in blue chip counters like Reliance Industries, IT and teck shares boosted market sentiment. State Bank of India, Tata Consultancy Services, Titan, ITC, Infosys, Larsen & Toubro, Reliance Industries and Bajaj Finance were the biggest gainers.
Murthy will hand over his role to K V Kamath, who has been an independent director on the Infosys board since May, 2009.
The share buyback -- which will be the first in the company's 36-year history -- has been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to its shareholders.
Infosys' up to Rs 9,200 crore buyback plan is scheduled to commence from June 25, wherein the IT major has proposed to buy back shares at a maximum price of Rs 1,750 apiece. The Board approval for the buyback was granted on April 14, 2021, and the shareholders' nod was received on June 19, 2021, at the company's 40th annual general meeting. The Bengaluru-based company has issued a public announcement on June 23 in various newspapers for the buyback of its equity shares from the open market through the stock exchange route, a regulatory filing said on Wednesday.
New strategy for Infosys by October, says Nandan Nilekani. New chairman's other priorities: Hiring CEO, reviewing Panaya probe reports.
From the 30 Sensex pack, Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, IndusInd Bank, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance and Reliance were among the biggest laggards.
'We are getting to understand the mind of this generation.' 'Minor tweaks are being made to ease the process as we go along.'
Infosys, however, cut 2017-18 revenue growth guidance to 5.5-6.5 per cent from 6.5-8.5 per cent in constant currency.
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances