'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
Infosys boss says new strategy moving in right direction, optimistic of regaining bellwether status.
Shares of IT giant Infosys erased early gains and ended with a loss of nearly one per cent on the NSE today on profit-booking after the company named former SAP executive board member Vishal Sikka as its new CEO.
Future Gaming of lottery king Santiago Martin was the biggest purchaser of electoral bonds at Rs 1,368 crore, of which nearly 37 percent went to the DMK.
Infosys President B G Srinivas will join Hong Kong-based diversified group PCCW as Group Managing Director in July, after ending his 15-year old stint with India's second largest IT services firm.
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.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
Nasdaq-listed information technology (IT) services firm Cognizant will incur the cost of $400 million over two years as it sets to restructure its operations amid sluggish growth rates. Its NextGen Program aims at simplifying the operating model, optimising corporate functions, and consolidating and realigning office space to reflect a post-pandemic hybrid work environment. As part of this structural shift, Cognizant will eliminate 80,000 seats, or 11 million square feet of real estate in large cities in India.
Infosys announced on Wednesday that product engineering services and development was 1.2 per cent of total revenues.
Possibility of higher growth and relatively cheaper valuations makes Street more positive on Infosys, says Sheetal Agarwal.
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.
Morgan Stanley has increased the target prices of certain information technology (IT) stocks by as much as 29 per cent, anticipating an improvement in earnings in the near future. Within the IT and engineering research and development (ER&D) services sector, it is now more optimistic about growth and margin estimates for 2024-25 (FY25).
Infosys has already hired 20 such talent.
IT services major Infosys has said wife of one of its co-founder Nandan Nilekani, Rohini Nilekani has raised about Rs 163.58 crore by selling 5.77 lakh of her shares of the company for philanthropic work.
'The meanness of the board statement apart, it nowhere answers the most fundamental and damaging aspects of the deteriorating work culture among top company executives to which Narayana Murthy had been repeatedly drawing attention,' says B S Raghavan, the distinguished civil servant.
Sikka has influenced the company to break away from the old mould in more ways than one.
The Income Tax Department has slapped a tax demand of over Rs 450 crore (Rs 4.5 billion) on software giant Infosys Technologies for wrongfully claiming tax exemption on onshore services by declaring them as software exports, Parliament was informed on Friday.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
Pavin Rao, a 28-year company veteran, to be second-in-command at Infosys.
The hiring scenario is for the batch that passes out in 2024. These are graduates who will be impacted, given 2022 graduates are not fully absorbed and 2023 onboarding still incomplete.
According to experts in human resources, even joining of new graduates is likely to be staggered as companies are expected to onboard staffers after gauging the demand scenario.
Its aim is to make computer programming accessible for everyone.
CEO Vishal Sikka's strategy is in line with focus on academic research in new technologies.
Despite higher gross additions, growth in overall customer base has been tepid for these companies, says Debasis Mohapatra.
Annualised staff attrition rate at Infosys rose to a record 20.1 per cent in the September quarter.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
Restricted stock units can be an effective tool to curb employee attrition and retain key talent
Through these new hires and centres, Infosys will also focus on enhancing its play in new technology areas like artificial intelligence (AI), machine learning, user experience, cloud and big data.
Infosys Head India Business Unit C N Raghupathi said for the manufacturing sector, the key areas to focus on include new product innovation.
JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight (neutral earlier post Q4-FY23 numbers), as it believes the overall demand environment for the sector still remains weak. The research firm expects most companies in the sector to disappoint while announcing their first quarter numbers for the current fiscal (Q1-FY24). Among stocks, it has placed Infosys, TCS, MphasiS in its 'negative catalyst watch'.
Infosys as working on becoming "independent of the visa issue" as much as possible and hire more locals
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Sources said the promotions, most of those on the delivery side of the business, would be handed out before October.
The company had sacked former chief executive officer Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Infosys Technologies, India's second largest information technology services company, which is an early bird on campuses this year, says it will offer jobs to 13,000 freshers for 2010-11.
'From our survey we found that there was a problem in the agricultural sector and drones could solve the problem.'
'Lakhs of engineers graduate every year in India and the IT industry used to be the primary recruiter. That is going to end.'
I was given two mandates -- to work on individual productivity and to drive automation, says N R Narayana Murthy's son.
Technology evolution forces private players to downsize operations.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances