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.
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.
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.
Among Sensex firms, Bharat Electronics rose the most by 4.26 per cent. HCL Tech gained 2.57 per cent, Bajaj Finance by 2.19 per cent, TCS by 1.99 per cent, Tech Mahindra by 1.88 per cent and Infosys by 1.85 per cent. Gains in Axis Bank and State Bank of India also supported the rally. However, Mahindra & Mahindra emerged as the biggest loser, falling by 2.47 per cent. Maruti dropped 1.53 per cent and Tata Motors by nearly 1 per cent due to profit-taking. UltraTech, Eternal and Power Grid were also among the laggards.
Indian information technology (IT) service providers are expected to deliver low single-digit sequential growth in the first quarter (April-June) of 2025-26 (FY26), even as macroeconomic uncertainties continue to persist due to the volatile geopolitical environment.
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.
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.
Among the Sensex pack, HCL Technologies, ICICI Bank, Tata Motors, Sun Pharmaceuticals, Tata Consultancy Services, Infosys, Kotak Mahindra Bank and Mahindra and Mahindra were the gainers. In contrast, HDFC Bank, Bajaj Finance, Larsen & Toubro, Tech Mahindra, UltraTech Cement and IndusInd Bank were among the laggards.
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.
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.
'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.'
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
On key parameters, TCS appears to be on a better wicket.
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.
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.
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.
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.
"Police have foiled a conspiracy to attack the airport and Infosys," Chief Minister H D Kumarawamy said.
Infosys is the first Indian company to be selected for Nielsen Norman Group's Intranet Design Annual Award.
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 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 become the first Indian company to join Automotive Open Systems Architecture development partnership to develop protocol and standards for next-generation automotive electronics.
The two firms have signed an advanced development deal that will provide BT with a novel automated resource management system.
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.
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.
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.
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.
Infosys Technologies is being sued again by a former senior employee for discrimination on the basis of age, gender and ethnicity while hiring in the US. The suit filed by Jill Prejean, vice-president of talent acquisition, has alleged that the company discriminated and retaliated when she tried to point out the discriminatory actions. Infosys' motion to dismiss the claims made by Prejean was rejected by a judge from the United States District Court Southern District of New York.
