IT stocks dropped in morning trade on Monday, with Tech Mahindra tumbling over 6 per cent, amid concerns over the steep hike in US H-1B visa fees. Shares of Tech Mahindra tumbled 6.45 per cent, LTI Mindtree slumped 5.61 per cent, Persistent Systems dropped 5.51 per cent, Hexaware Technologies tanked 5.14 per cent and HCL Tech fell by 4.24 per cent on the BSE.
Infosys Technologies has been inducted into the Global Most Admired Knowledge Enterprises (MAKE) Hall of Fame.
The US remains the largest market for IT outsourcing, and for Indian giants TCS, Infosys and Wipro, it contributes around 40 per cent of their top line.
India's second largest software exporter, Infosys Technologies on Thursday announced it would set up two software development centres in China with a total investment of $65 million in the next five years.\n\n
Most of the Sensex firms settled in the positive territory. Mahindra & Mahindra, Tata Motors, Tech Mahindra, JSW Steel, State Bank of India, HCL Technologies, Reliance Industries and Infosys were the biggest gainers. Kotak Mahindra Bank and Maruti were the laggards.
The project is supported by the Department of Jobs through IDA Ireland.
Among the Sensex firms, Bharat Electronics Ltd, Mahindra & Mahindra, Adani Ports, HCL Technologies, Eternal, Infosys, Bharti Airtel, Sun Pharmaceuticals, Larsen & Toubro, Hindustan Unilever and UltraTech Cement were the gainers. Bajaj Finance, Tata Motors Passenger Vehicles, Kotak Mahindra Bank, PowerGrid and Tata Steel were among the laggards.
India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers.
Infosys Technologies Ltd allotted 4059 equity shares under an employee stock option plan.
Infosys is likely to continue on a high-growth path. As the company moves up the value chain, due to higher billing rates earned, revenues are expected to grow.
The subsidiary, Infosys Technologies S. De RL De CV, will provide business consulting and information technology services for clients in all industries
While FY25 attrition rates remained below pre-Covid levels, most companies experienced a 1 to 3 percentage point increase compared to FY24.
The combined market capitalisation of the country's top five IT firms that are part of the BSE Sensex is down 24 per cent since January and their valuation has slipped to lowest levels in the past five years.
For the third year, the Wharton Infosys Business Transformation Awards will 'salute' corporations and leaders who bring about real, lasting change through information technology, an Infosys statement said.\n\n\n\n
Take the rediff business quiz and see how much you know about Indian IT major Infosys Technologies.
With demand for information-technology (IT) services in North America still sluggish, Europe has become a source of optimism for Indian companies because it is delivering steady gains over the past two years and continuing to outperform in the latest quarter. Yet analysts caution a full-scale revival will require a rebound in the United States (US), particularly in manufacturing, retail, and BFSI (banking, financial services, and insurance), because Europe contributes only about a third of the revenues.
Software services major Infosys Technologies on Wednesday said its cash and cash equivalents stood at over $2 billion at the end of last fiscal in spite of credit crisis worldwide.
Tech Mahindra's net profit declined 4.5 per cent to 1,195 crore in the September quarter over a year earlier. It was, however, slightly higher than 1,141 crore sequentially.
Infosys CEO Salil Parekh has indicated that offers given to freshers will be honoured by the company and followed with joining, although there has been some change in dates. The comments of Infosys top honcho assumes significance amid reports that the company has delayed onboarding of 2,000 fresh engineering graduates from 2022-batch.
Mutual funds (MFs) - flush with cash amid record inflows in July - invested heavily in the Rs 25,000-crore qualified institutional placement (QIP) of India's largest lender State Bank of India (SBI). Fund managers acquired SBI shares worth Rs 10,200 crore last month, making the lender their biggest buy in July.
Software services firm Infosys Technologies has imposed a fine on its chief executive officer S 'Kris' Gopalakrishnan and an independent director Jeffrey Sean Lehman for violating company rules.
Among major Sensex gainers Bajaj Finserv rose the most by 1.42 per cent, Axis Bank gained 0.80 per cent, Infosys by 0.72 per cent, Mahindra & Mahindra by 0.60 per cent, Tata Motors by 0.55 per cent, Bajaj Finance by 0.53 per cent and Tata Steel by 0.52 per cent. Kotak Mahindra Bank, ICICI Bank, HCL Technologies, Bharti Airtel, Maruti Suzuki India, Trent Ltd and Tata Consultancy Services were the losers.
Infosys, which is sitting on a cash pile of over $3 billion, has met criticism from investors and analysts as rivals like Tata Consultancy Services and Wipro have boosted their businesses with multiple acquisitions.
There is lot of mutual respect among the founders of Infosys. We have similar value systems. We have a long-term view of the business. We want to create a respected institution, says S Gopalakrishnan, President, Infosys.
For the first time ever, India's second largest software exporter Infosys Technologies would aggressively scout for talent in US universities, from where it would hire 300 fresh graduates.
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.
The information technology (IT) services industry may be headed for another year of sluggish growth. Based on the results of the top five IT services companies for the first quarter of 2025-26 (Q1FY26), analysts say the possibility of hitting high single-digit revenue growth in FY26 looks unlikely.
The partnership would develop Nvidia Cuda (Compute Unified Device Architecture) Technology-enabled software solutions.
Infosys Technologies has been ranked number one in the 3Q03 Professional Services Business Quarterly Benchmark by Technology Business Research Inc.
Among public sector banks, Infosys has kept the majority of its deposits with Punjab National Bank.
To turn disruption into opportunity, NITI Aayog has recommended the launch of a National AI Talent Mission to make India the AI workforce capital of the world.
S Gopalakrishnan's passion for gizmos goes beyond BlackBerrys and iPods. The Infosys head says, he likes to "play around with new technology".
Infosys Technologies, India's second largest information technology services firm, has discontinued some of its loan schemes for employees.
Infosys Technologies Ltd allotted 179 equity shares of par value of Rs 5 to Bankers Trust Co, New York, the depository of company's ADRs
