'We do not need short-term measures but long-term ones. Companies seem to have given up on the infrastructure part. Long delays are fuelling more traffic crisis.'
Infosys said on Tuesday it is collaborating with Microsoft to jointly develop industry solutions that leverage Infosys Topaz, Azure OpenAI Service and Azure Cognitive Services. Both organisations are bringing together their respective artificial intelligence (AI) capabilities to enhance enterprise functions with AI-enabled solutions across multiple industries. The integrated solutions are aimed at accelerating the rapid democratisation of data and intelligence that will help businesses increase productivity and drive new revenue growth.
'You are a guest in the US. It's not your home, you're a guest. If they don't feel comfortable, you have to step out.'
Among Sensex firms, Eternal, Infosys, Asian Paints, HDFC Bank, Bajaj Finserv and Titan were the major gainers. However, Tata Steel, Tech Mahindra, Adani Ports and Bharat Electronics were among the laggards.
The Trump administration has announced a massive increase in H-1B visa fees, imposing a $100,000 annual charge that will fundamentally alter how American companies hire skilled foreign workers, particularly impacting Indian IT professionals who comprise the largest group of beneficiaries.
Investors in India's information technology (IT) companies are likely in for more pain ahead as muted earnings for the first quarter of 2025-26 (Q1FY26) play spoilsport at the bourses in the worst-performing sector this year amid macro uncertainties. Investors, analysts suggest, can look for better opportunities in the markets as things stand.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
India's top information- technology (IT) services companies, all cash-rich, have been tightfisted about ploughing back their earnings in new projects or acquisitions and the bulk of the profits have been distributed to shareholders through dividend and share buybacks. In the past 10 years (that is, excluding the current one), the firms have reinvested in growth and expansion only around 13.5 per cent of the cash flow generated from their operations.
From the Sensex pack, Sun Pharma, Eternal, Tata Motors, Bajaj Finance, IndusInd Bank and Bajaj Finserv were among the major laggards. In contrast, Tech Mahindra, Infosys, Asian Paints and Maruti were among the gainers.
IT company Infosys on Thursday posted a 7.3 per cent decline in consolidated net profit at Rs 6,106 crore in the third quarter of the current financial year. The company had posted a net profit (attributable to shareholders) of Rs 6,586 crore during the same period a year ago, Infosys said in a regulatory filing. Consolidated revenue from operations of the company increased marginally by 1.3 per cent to Rs 38,821 crore during the quarter under review from Rs 38,318 crore in the year-ago period.
Bengaluru-based Infosys has announced that 80 per cent of the variable pay will be distributed to eligible employees for the quarter ending June 30, according to media reports. This amount will be included with the August month's salary. In contrast, Infosys had paid out 60 per cent of the variable pay in the fourth quarter of financial year FY23.
Life Insurance Corporation (LIC) , the country's largest domestic institutional investor (DII), has seen a Rs 46,000 crore erosion in the value of its equity holdings amid market downturns in July. The benchmark indices, Nifty 50 and BSE Sensex, have slipped 2.6 per cent from their June 2025-end level to 24,837 and 81,463.09 respectively.
'When I told Mr Narayan Murthy, he said it was great that I was following my dream.'
From the Sensex firms, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HCL Tech, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Consultancy Services, Reliance Industries, Axis Bank and Larsen & Toubro were among the major gainers. However, Trent, Tata Steel, Tech Mahindra and Maruti were among the laggards.
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
Artificial Intelligence-first business strategy adopted by Infosys is working well for the company despite unresolved ethical and IPR issues around the technology, Infosys chairman Nandan Nilekani said on Wednesday. In his address at Infosys' 42nd Annual General Meeting, Nilekani said the company can be more efficient while nurturing readiness for growth, given its performance in challenging scenarios created by inflation, interest rates, geopolitics, demand volatility and supply chain dislocations. "Several practical, ethical and intellectual property-related issues, when it comes to AI remain unresolved.
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday amid heightened tensions in the Middle East after the US bombed three major nuclear sites in Iran. The 30-share BSE Sensex tumbled 705.65 points to 81,702.52 in early trade. The 50-share NSE Nifty dropped 182.85 points to 24,929.55.
Shares of Infosys hit a five-month low of Rs 1,419.60, down 1 per cent on the BSE in Tuesday's intra-day trade. The stock was quoting at its lowest level since October 10, 2022. In past two days, the stock of information technology (IT) bellwether was down 4 per cent after the company on Saturday informed to the stock exchanges that Mohit Joshi, president of the company has resigned effective March 11, 2023. Mohit Joshi will be on leave thereafter and his last date for the company would be June 9, 2023, Infosys said in an exchange filing.
From the Sensex pack, HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, Tata Motors and Eternal were the lead gainers. Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank and Hindustan Unilever were among the laggards.
Indian IT services company Infosys on Thursday said all its employees in Israel are safe. Amid escalating tensions in the Middle East, Infosys CEO and MD Salil Parekh said its employees in Israel are primarily locals but declined to comment on the exact staff strength there. The company further said it is "saddened" by the situation unfolding in the region.
Some major contracts coming up for renewal include TCS' deals with Star Alliance, a consortium of airlines based in Germany, and Nielsen; Infosys' deals with GE Appliances and Daimler; HCLTech's with UK-based life insurer Chesnara; Wipro's with German electric utility company E.ON and Petrobras of Brazil; and Tech Mahindra's with Circle Health.
Among Sensex firms, Eternal, Infosys, Tata Consultancy Services, Tech Mahindra, Reliance Industries, Asian Paints, HCL Tech and Adani Ports were the laggards. Power Grid, Bajaj Finance, NTPC, State Bank of India and IndusInd Bank were among the gainers.
Mid-tier information-technology (IT) companies last financial year reported better growth numbers than their larger counterparts, highlighting their ability to navigate the uncertain macroeconomic environment. Most of these companies - such as Persistent Systems, Coforge, KPIT, and Mphasis - focus on niche businesses and industries that allow them to go deeper in terms of client mining and expanding wallet share from existing customers.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
Gen Z, driven by AI anxiety and economic pragmatism, have concerns about pursuing passions as careers as they fear it may not make them enough sufficient income.
The combined market valuation of the top-ten most valued firms jumped by a whopping Rs 3,84,004.73 crore in the holiday-shortened last week, in-tandem with a smart rally in equities, with HDFC Bank and Bharti Airtel emerging as the biggest gainers. Last week, the BSE benchmark Sensex jumped 3,395.94 points or 4.51 per cent, and the NSE Nifty surged 1,023.1 points or 4.48 per cent.
JV to export e-carts, aim for 10% global market share, $1 bn turnover and innovation in driverless tech.
Jane Street could do what they did because of the most fundamental flaw in the Indian stock market: a fragmented, fractured, fissured, fistula-ed liquidity stream, points out Shankar Sharma.
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 was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company's sharp downward revision in its growth guidance took most brokerages by surprise. In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say. Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
'Our phones are taken away as we enter the room.' 'They are just asking us to sign without any discussion. If you ask for a discussion, they say, 'Sign first'.'
Indian IT services major Infosys on Thursday announced that it will expand collaboration with tech giant Microsoft to drive enterprise cloud transformation globally. According to a statement, the extended strategic collaboration between Infosys and Microsoft is expected to benefit enterprises by bringing them the best of Infosys Cobalt cloud offerings and Microsoft's cloud computing technologies, led by Azure, across the business value-chain.
'Keeping a bench increases cost. If you keep a bench, the skills may not remain relevant.' 'In the future, bench strength will literally be zero.'
Bengaluru-based IT major Infosys is growing its footprint in the Nordics by establishing a new proximity centre in Oslo, Norway, as part of its continued expansion plans in the region. The new centre is expected to enable Infosys to attract, re-skill, and upskill local talent to work on global opportunities through next-gen technologies like cloud, AI, IoT, 5G, and software engineering. The Nordic region consists of five sovereign states - Denmark, Finland, Iceland, Norway, and Sweden - besides the three autonomous territories connected to these states: the Faroe Islands and Greenland (Denmark), and land (Finland).
While TCS cited evolving business needs and future readiness as reasons, industry experts say the action is a cost-cutting measure aimed at improving operating margins that have remained below the firm's aspirational range despite multiple efforts.
Stock markets will be driven by further developments on the US-China tariff war front along with quarterly earnings announcements from IT majors Wipro and Infosys in a holiday-shortened week, analysts said. Global market trends and trading activity of foreign investors would also dictate market movement this week, experts noted.
Novak Djokovic moved to the brink of his 100th tour-level title after recovering from a second-set blip to beat British qualifier Cameron Norrie 6-4, 6-7(6), 6-1 in the Geneva Open semi-finals on Friday.
The time is up for the over three-decades-old business model with the advent of artificial intelligence, HCL Technologies' chief executive C Vijayakumar said on Monday. Speaking at industry lobby grouping Nasscom's annual NTLF event in Mumbai, Vijayakumar said companies need to be "paranoid", given the wide-ranging impact of AI and stressed that this attitude will help them to be relevant and grow. "I strongly believe that the business model is ripe for disruption.
Indian-origin tech companies cornered a fifth of all H-1B visas issued by the US with Infosys and Tata Consultancy Services leading the pack, an analysis of data from the US immigration department showed. According to data from the US Citizenship and Immigration Services, in April-September 2024 period, out of the total 1.3 lakh H-1B visas issued to different employers, about 24,766 visas were issued to Indian-origin companies.
