Infosys Ltd on Thursday reported a 4.7 per cent rise in the September quarter net profit and raised revenue guidance after broadbased growth. Net profit of Rs 6,506 crore in July-September was up 4.7 per cent when compared to Rs 6,212 crore earnings in the same period last year. It was 2.2 per cent higher quarter-on-year, according to a company statement.
Trading sentiment in the equity market will largely be driven by domestic corporate quarterly earnings, any update related to US tariffs and foreign fund movements this week, analysts said. Investors would also focus on world market trends, movement of global oil benchmark Brent crude and the rupee-dollar trend for further cues, experts noted.
The company's total income jumped from Rs 1,845 crore (Rs 18.45 billion) in Q3-05 to Rs 2,532 crore (Rs 25.32 billion) for the quarter ended December 31, 2005, showing a rise of 35 per cent.
Infosys Technologies Ltd has posted a net profit of Rs 394.47 crore (Rs 3.944 billion) for the quarter ended June 30, 2004 as compared to Rs 278.12 crore (Rs 2.781 billion) for the first quarter ended June 30, 2003.
Software major Infosys Technologies Ltd is not pursuing its American Depository Receipt plans, as it feels the time is not conducive for another offshore listing and would opt for a "wait and watch" approach.
Infosys Technologies and BT have won the National Outsourcing Association award for Innovative Outsourcing Project. The field optimisation suite (FOS) jointly developed by BT and Infosys Technologies Ltd bagged the award for the year 2007.
From the Sensex pack, Nestle India, HCL Technologies, Tech Mahindra, Bharti Airtel, Titan, Infosys, Asian Paints, NTPC, Bajaj Finserv and Sun Pharmaceuticals were among the laggards. State Bank of India, IndusInd Bank, Zomato, Power Grid, ICICI Bank, Tata Motors, Mahindra & Mahindra, Tata Consultancy Services and Adani Ports were the gainers.
Investors will take cues from the December quarter corporate earnings, with blue-chips like Infosys, Reliance Industries scheduled to report their results this week, in addition, inflation data and trading activity of foreign investors will also be crucial in dictating market trends, analysts said.
From the Sensex pack, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Tata Motors, Bajaj Finance, Kotak Mahindra Bank, Mahindra & Mahindra, Bharti Airtel and Maruti Suzuki India, Tata Steel were the major laggards. PowerGrid, Sun Pharmaceuticals, UltraTech Cement, NTPC, Asian Paints, Nestle India, Titan, IndusInd Bank and Axis Bank were among the gainers.
The alliance focuses on the support of US loan servicing loan modification initiatives as defined under the Home Affordable Modification Program or alternative loan modification programs, Bangalore-headquartered Infosys said.
Dalal Street investors were a poorer lot on Monday as their wealth eroded sharply by Rs 14 lakh crore following a sharp decline in benchmark indices amid a global market meltdown due to recession fears. The 30-share BSE Sensex tumbled 2,226.79 points or 2.95 per cent to settle at 73,137.90. Intra-day, the benchmark slumped 3,939.68 points or 5.22 per cent to 71,425.01.
The company plans to strengthen consulting capability in addressing the needs for the next phase of growth.
Infosys has a long way to go as far as IT business is concerned, said Kris Gopalakrishnan, CEO Infosys Technologies Ltd.
'We treat attrition as a business problem, not just an HR problem,' says Amitabh Chaudhary, Infosys BPO CEO.
Software major Infosys Technologies on Thursday said it has reached an agreement with Citicorp International Finance Corporation to acquire the latter's stake in its BPO arm Progeon Ltd for $115.13 million (nearly Rs 518 crore) in cash.
The nominations committee of the board had earlier recommended Kamath's induction as an additional director. Kamath, at the end of April 2009, stepped down as CMD of ICICI Bank and is now the non-executive chairman.
At the end of Q1, Infosys had 1,79,523 employees.
In fact, while IT bellwether Infosys Technologies (his earlier employer) got a drubbing at the bourses for not posting "better than expected" results, iGate stumped investors a couple of days back by announcing it plans to buy back shares from the public and delist from the Indian stock markets, while remaining listed in the US.
The award will be presented to Nilekani by Yale University president Richard C Levin at the Yale CEO Leadership Summit of The Chief Executive Leadership Institute.
IITians need to play a larger role in nation building and contribute to society. This could vary from mentorship, creation of jobs and broader wealth creation, said Nandan Nilekani, co-chairman and co-founder of Infosys Technologies Ltd, during the weekend.
Stock investors have become richer by Rs 10.47 lakh crore in two straight days of gains in markets as benchmark Sensex jumped 2 per cent. At close on Wednesday, the market capitalisation of BSE-listed companies surged by Rs 10,47,565.48 crore to Rs 4,52,58,633.53 crore ($5.37 trillion) in two days of gains. "The feel good factor of Trump's win in the US election had a rub-off effect on world equity markets, including local indices as domestic investors resorted to value buying, especially in IT stocks, which pushed the benchmark Sensex above the 80k mark.
The India centre provides both e-mail and telephone-based technical support to Dell's users and develops software applications for the American parent, besides outsourcing work to companies like Infosys.\n\n\n\n
From the 30-share blue-chip pack, Zomato surged over 7 per cent. Maruti, ITC Hotels, ITC, Mahindra & Mahindra, Asian Paints, Titan and IndusInd Bank were among the biggest gainers. Power Grid, Larsen & Toubro, NTPC, UltraTech Cement, HCL Tech, Tech Mahindra, Infosys and Adani Ports were among the laggards.
Wage inflation will not blunt the country's competitive edge in the IT industry, according to software guru and chairman of Infosys, N R Narayana Murthy.
Deve Gowda had said that the Infosys boss had made no contribution in the last five years to bring the Bangalore International Airport Limited to fruition.
From the 30-share Sensex pack, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Asian Paints, Infosys and Maruti Suzuki were the biggest laggards.
The city-based firm had witnessed exits, especially of senior level executives, in the last couple of years and one of the main tasks before Vishal Sikka when he took over as the chief executive officer last year was to check the high attrition levels.
Promila Awasthi, an India-born American citizen, alleged her former bosses mocked her for observing American holidays like Thanksgiving and Christmas
After two decades of being in the information technology business, India is still a 'toddler' with only 2 per cent of global market share, according to N R Narayana Murthy, Chairman and Chief Mentor, Infosys Technologies Ltd.
Infosys has already hired 20 such talent.
IT major Infosys Technologies Ltd is not seeing any trend towards downward pressure on pricing by clients, its CEO and managing director S Gopalakrishnan said on Wednesday. "We are not seeing any trend towards driving down pricing", Gopalakrishnan told reporters in response to questions on the sidelines of a press conference of The Indus Entrepreneurs (TiE).
Software icon N R Narayana Murthy has bemoaned that the 'elite' are going unpunished though they commit 'huge crimes' in the country and saw it as 'problem with this society'.
"Employees who have been consistently demonstrating poor performance were counselled out. Less than 1 per cent of our 11,250 employees in Chennai and 11,496 employees in Hyderabad have been impacted. As for the Thiruvananthapuram centre, less than 1 per cent of the 1,800 employees were impacted," said Mohandas Pai, member of the board, director, human resources, Infosys Technologies.
A top infotech official has warned the Indian IT industry, already facing trouble spots such as wage inflation, high attrition rates and a strong rupee, cannot afford to sit on its laurels as global competition is on the rise.
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