Infosys Consulting Inc, the strategic consulting arm of IT services giant Infosys Technologies, is planning to acquire a small consulting company with revenues in the $100-140 million range (Rs 450-650 crore) as part of its inorganic growth initiatives in the US.Market sources said Infosys had been looking at a suitable acquisition target in the US with consulting expertise in verticals like aerospace, retail, healthcare and financial services.
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).
Among Sensex scrips, Bharti Airtel, Titan, NTPC, State Bank of India, ITC, Tata Steel, Mahindra & Mahindra and Tata Motors were the major laggards. Adani Ports, Infosys, Axis Bank, HCL Technologies, Tech Mahindra and IndusInd Bank were among the gainers.
The consolidated revenue of the country's second largest software exporter rose to Rs 6,198 crore
Terminates services of over 600 contract workers in February.
"Police have foiled a conspiracy to attack the airport and Infosys," Chief Minister H D Kumarawamy 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.
All Sensex shares, except for Hindustan Unilever, ended with losses. Tata Steel fell the most by 7.33 per cent followed by Larsen & Toubro which cracked 5.78 per cent. Tata Motors, Kotak Mahindra Bank, Mahindra & Mahindra, Infosys, Axis Bank, ICICI Bank, HCL Technologies and HDFC Bank were the other big laggards. Hindustan Unilever ended marginally higher.
Infosys is the first Indian company to be selected for Nielsen Norman Group's Intranet Design Annual Award.
Infosys Technologies Ltd plans a sponsored secondary ADR program. The company board okayed sponsorship of an ADR issue of 2 to 3 million shares, equivalent to 4 to 6 million ADRs.
Infosys Technologies Ltd announced on Friday it has been positioned by Gartner, Inc., in the leaders quadrant in the 'Magic Quadrant for North American offshore applications services 2007' report.
Infosys Technologies has announced the appointment of Deepak Satwalekar, managing director & CEO of HDFC- Standard Life Insurance, as the lead independent director in line with the company's commitment to good corporate governance practices.
Infosys Technologies has become the first Indian company to join Automotive Open Systems Architecture development partnership to develop protocol and standards for next-generation automotive electronics.
Finacle is a universal banking solution from Infosys which addresses the core banking, treasury, wealth management, consumer and corporate e-banking, mobile banking and web-based cash management requirements of retail, corporate and universal banks worldwide. Standard codes like ISO Country / Currency, SWIFT BIC Codes, UCPDC Codes are also incorporated in the Finacle BIAB framework, the company informed.
The two firms have signed an advanced development deal that will provide BT with a novel automated resource management system.
IT major Infosys Technologies will start construction work on its first software development centre in West Bengal, at Rajarhat near here, in three to six months, a top company official said on Friday.
Infosys Technologies on Tuesday announced that it has signed an agreement with China Banking Corporation in the Philippines, to deploy its Internet banking solution Finacle.
India's second-largest information technology services provider, Infosys Technologies, has issued letters to its employees stating they could opt for a one-year sabbatical to engage themselves in philanthropic activities. They would continue to draw 50 per cent of their salary during the period. Infosys crossed the 100,000-employee mark in India in the quarter ended September 30, 2008.
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.
Infosys Technologies' fourth-quarter results have been poorly received. The bellwether stock has taken a severe beating, bringing the markets down with it.
Infosys Technologies has announced that it has kicked off a buyback plan for a certain section of employees who have shares of the erstwhile Progeon, now Infosys BPO.
Anticipating weakening demand from the US market, coupled with pricing and margin pressures in the fourth quarter of the current financial year, Infosys Technologies will look at slashing variable pay-out to its employees.
From the 30-share Sensex pack, Mahindra & Mahindra, Infosys, HCL Technologies, Adani Ports, Bajaj Finance, Tech Mahindra, Titan, Tata Consultancy Services, Reliance Industries and Power Grid were among the laggards. On the other hand, State Bank of India was the only gainer.
Software major Infosys Technologies Ltd on Wednesday said it seeks to set up a development centre in the city.
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.
Infosys Technologies Ltd announced on Tuesday its selection as Best Outsourcing Partner by readers of Waters, a leading publication covering the needs of chief information officers in the global capital market firms.
Infosys Technologies Ltd expects to find acquisition opportunities in the US during the downturn, co-chairman Nandan Nilekani was quoted as saying on Friday. "Acquisitions will definitely be very accessible in this market from a price point of view," Nilekani told the Wall Street Journal in an interview. "If it makes sense, we'll do it."
A high-level team from Infosys Technologies Limited visited Rajarhat in West Bengal on Tuesday to survey land for setting up a development centre in the state.
Though the Infosys stock has regularly tanked on days the company's results are announced, it has made up for the losses before the announcement of the next results.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Infosys Technologies Ltd has become the first company in India to obtain BBB rating, higher than the country's sovereign rating (BB+/Stable/B), from global credit rating agency Standard & Poor's, reflecting the company's strong financial profile.
To tap the domestic market, the country's second-largest information technology company set up a separate unit within its BPO arm in 2009.
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.
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.
The software major has plans to invest Rs 500 crore at Kolkata campus that will create employment for 5,000 professionals. The company is yet to get possession of 90 acres of land assured by the state government. West Bengal Chief Minister Buddhadeb Bhattacharjee on Thursday said that Infosys had shown apprehension about investing in the state following recent incidents in Singur where Trinamool Congress has been agitating against acquisition of farmland by the state governme
The Nasdaq 100 index comprises the largest non-financial stocks on the exchange. In November 2006, Infosys went in for issue of $1.65 billion American Depository Receipts.
Infosys Technologies is looking for acquistion of companies within $50 and $100-million revenue range in the segment of banking and financial services, besides health and life sciences, Infosys COO Kris Gopalakrishnan said.
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