N R Narayana Murthy addressed Infosys staff on Thursday for the first time since taking charge of the beleaguered company as the executive chairman.
"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.
The company said the transaction will be completed by December 16.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Amit A Shah holds a stake in 180 listed entities, according to data disclosed in his election affidavit.
Sikka has influenced the company to break away from the old mould in more ways than one.
However, on the NSE, both ITC and Infosys had equal weight of 8.77 per cent.
Infosys, which is managing MCA21, has been facing flak from different quarters on the woes pertaining to the portal.
Shares of Tata Consultancy Services (TCS) jumped 4 per cent on Tuesday, taking its market valuation to above Rs 15 lakh crore mark. The stock of the country's second most valued firm by market valuation jumped 4.05 per cent to settle at Rs 4,133.45 apiece on the BSE. During the day, shares of the company climbed 4.45 per cent to Rs 4,149.75 -- its all-time high.
Design thinking refers to solving traditional tech problems using newer, different and innovative methods
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Its revenue, however, grew 20.3 per cent to Rs 21,400 crore in the December 2018 quarter as compared to Rs 17,794 crore in the year-ago period.
The expansion comes in the wake of Infosys is planning to expand the workforce at Lodz delivery centre by 500 people.
The company pays out an interim dividend in October and the final dividend in April of every year. The company has fixed October 19, 2007, as the record date for the purpose of payment of interim dividend, if any.
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
Infosys openness backfires as missed guidance frustrates market.
The $140-billion Indian IT market is facing challenges on multiple fronts including stricter visa regime in key markets and shortage of skilled manpower for new technology areas like data science.
The project is supported by the Department of Jobs through IDA Ireland.
It was reported in a section of the media that TBT had filed a suit in June in a New York court against Infosys BPO.
Infosys, the country's second largest software company, on Wednesday expressed concern over the Ohio state government's move to ban IT outsourcing to offshore locations such as India.
'To those who have just finished engineering or MCA or BSc, BBA, I will say they should take up whatever internship opportunities they are getting.' 'They should look for opportunities to learn the latest tools.' 'They should think innovative and try to solve problems. Only when you sharpen your skills, you will remain relevant.'
India's second-largest software services firm expects its topline to grow 7.5 - 9.5 per cent in FY2019-20 in constant currency terms.
Just before Infosys announces its quarterly earnings, the investor community is abuzz with hopes the information technology (IT) giant might reward shareholders.
From the Sensex basket, Tech Mahindra, Tata Steel, JSW Steel, HCL Technologies, Tata Consultancy Services, Larsen & Toubro and Kotak Mahindra Bank were the biggest laggards. Mahindra & Mahindra, Power Grid, Bajaj Finance, IndusInd Bank and Maruti were the major gainers.
Infosys is yet to announce its 2014-15 results.
Certain changes in the past two or three years could have a long-term structural impact on the IT services market.
Infosys aims to commission 55 MW of solar plants by end of 2016.
Infosys is close to signing an agreement with the state-run Maharashtra Airport Develop-ment Corporation (MADC) to set up an IT campus at an investment of Rs 460 crore (Rs 4.6 billion) at the Nagpur SEZ.
Tata Consultancy Services, India's number one information technology services company, could overtake Infosys to become the most profitable one for the first time on a full-year basis in 2012-13.
Billionaire Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday became the first listed company to hit the Rs 20 lakh crore market valuation mark. The market heavyweight's stock jumped 1.88 per cent to its record high of Rs 2,957.80 apiece on the BSE. It finally settled at Rs 2,928.95 per piece, up 0.90 per cent on the bourse.
The company has decided to consolidate its delivery functions horizontally
Infosys to open first overseas campus in China
Nia builds on Mana, the first AI platform introduced by the software services major last year. It also includes the robotic process automation capabilities of AssistEdge, another Infosys solution.
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Infosys will declare its July-September quarter earnings on Friday.
