Looking at the forthcoming year, while there will be macroeconomic challenges, industry in India is better off because we are still growing. If we manage the next 12-18 months, we should emerge stronger, says S Gopalakrishnan.
Infosys Technologies appears to have set out on a journey of generational change which will unravel over the next few years.
Infosys plans to invest Rs 809 crore (Rs 8.09 billion)on expanding its global education centre in the next one year, company executives said.
Infosys Head India Business Unit C N Raghupathi said for the manufacturing sector, the key areas to focus on include new product innovation.
Debate on, as part of wider plan to have products & platforms business as another unit.
Mirroring the increase in the earnings of their companies, the chief executives and promoters of India's top listed firms gained handsomely from the boom last financial year. Their remuneration includes salaries, perquisites or perks, and profit-linked commissions.
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.
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.
The Ebitda margin, too, was lower than the expected 29.1 per cent.
HCL Technologies and Infosys should benefit more than TCS and Wipro
India's second-largest IT services exporter targets Australia, Japan, South Africa.
'The $80,000 revenue per employee we will get through quite easily.'
Cognizant Technology Solutions has restructured its global growth markets (GGM) by appointing two internal leaders who will now share the responsibility. The move follows the exit of former GGM leader Rob Walker last month and is among the slew of leadership changes the company has seen in the recent past. GGM refers to the company's emerging markets outside of North America.
To an outsider, the exits could signal turmoil and, perhaps, even trouble. But, Infosys, on the contrary, seems to be back as stock markets' darling.
As artificial intelligence (AI) threatens to replace jobs, a new report from Microsoft has suggested that Indian employees are caught between a fear of losing jobs and an opportunity to reduce workload by delegating tasks to technology. Microsoft's Work Trend Index 2023 found that while 74 per cent of Indian employees are worried about AI replacing their jobs, 83 per cent would delegate as much work to it as possible, to help lessen their workloads. More than three in four Indian workers would be comfortable using AI not just for administrative tasks (86 per cent), but also for analytical work (88 per cent), and for the creative aspects of their role (87 per cent).
IT major Infosys' top brass, including its directors and senior-most management personnel, got a hefty collective hike of over Rs 10 crore (Rs 100 million) in their pay packets during the last fiscal, with chief financial officer V Balakrishnan leading the tally with a hike of Rs 1.73 crore (Rs 17.3 million).
Benchmark indices Sensex and Nifty pared early gains to close marginally lower in highly volatile trade on Thursday due to losses in Larsen & Toubro and cautious trading ahead of the release of domestic inflation data. The 30-share BSE Sensex declined 35.68 points or 0.06 per cent to settle at 61,904.52 after hitting the crucial 62,000 mark in opening deals. During the day, it hit a low of 61,823.07 and a high of 62,168.22.
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.
A few analysts were surprised by the revenue growth of 3.8 per cent; many had expected revenue growth to be 2.5-2.7 per cent.
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.
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
Equity benchmarks pared initial gains to end lower on Friday, recording their third day of decline, amid weak trend in IT counters. The 30-share BSE Sensex tumbled 452.90 points or 0.75 per cent to settle at 59,900.37. During the day, it tanked 683.36 points or 1.13 per cent to 59,669.91.
The improving outlook for the power sector has caught the interest of dividend yield funds. In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector. Some have even introduced new stocks to their portfolios.
Mr Tata said a letter had arrived in his office from a young woman who had applied for the graduate engineering programme of TELCO Pune and been turned down. 'I wouldn't interfere with your selection process, Maira,' he said. 'However, I am calling you because this lady says that her rejection letter says that though she is very well qualified for the programme, TELCO Pune cannot select her because she is a woman.' 'Why are you discriminating against women?' he asked. A must read excerpt from Arun Maira's The Learning Factory: How The Leaders Of Tata Became Nation Builders.
The 2019 list shows a 37 per cent jump in brand value for the Tata group, to $19.55 billion for 2019, the highest in the top 25.
Vishal Sikka reiterates infy's commitment to surpass sector growth rate in FY17, be a $20-bn revenue firm in CY2020.
'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.'
If each one of us puts our minds to it, 2015 will be a year to remember, he said
Exuding confidence in Narendra Modi's leadership, IT industry veteran NR Narayana Murthy today said the new Prime Minister is "in a position to change the course of dialogue" on US visas for the over $118 billion industry.
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
As a major contributor to exports, the IT industry has greater responsibility to perform better in view of the huge Current Account Deficit facing India, said N R Narayana Murthy, whose appointment as Infosys Executive Chairman was ratified by shareholders on Saturday.
IT firms Infosys and Mphasis on Tuesday said they will create employment for about 2,000 people, while Wipro will invest pound 16 million (about Rs 163 crore) in the UK over the next few years. The announcements were made ahead of the virtual summit between UK Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. Infosys said it plans to hire 1,000 workers in the UK over the next three years as part of efforts to support the country's economic recovery and growth.
My interest is to work with young entrepreneurs to build businesses and see if I can add value to the boards of other global companies.
Infosys COO says, the firm is trying its best retain talent.
Begin with ITC. Larsen & Toubro, yes. ICICI and HDFC, yes again.
'The end of WFH has made achieving work-life integration more challenging for women.'
India's innately hierarchy-prone corporate culture produces its share of willing sycophants, says Kanika Datta.
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