Information technology (IT) stocks ended at their lowest in nearly nine months after a fresh bout of selling, triggered by concerns over a recession in the US, the key market for domestic software exporters. A report by Morgan Stanley citing risks to growth also weighed on sentiment.
In a major boost to West Bengal's industrialisation drive, IT major Infosys Technologies on Tuesday signed an MoU with WBHIDCO for a 50-acre plot to open a campus in Kolkata to provide job opportunities to nearly 15,000 people.
Infosys Technologies has won the prestigious Global MAKE (Most Admired Knowledge Enterprises) award for the year 2004.
Infosys will be taking over the subsidiary along with all the costs in the similar manner that TCS had acquired the operations of the Pearl Group in the UK.
Reacting to the horrific blasts that ripped through Bengaluru, India's third-largest software company, Infosys Technologies Ltd, said that it had increased security on its campus and that all its employees are safe.
Infosys Technologies will soon induct two of its top executives to its board, to fill the vacancies left by the resignations of human resources and administration director Mohandas Pai and co-founder K Dinesh.
'When you go from a larger base, clearly, the challenges are bigger.'
Infosys Technologies will delay its visit to campuses for recruitment this year. The software major normally starts the recruitment process during April or May.
The offshore development centre of information technology major Cadence Design Systems has dislodged Infosys Technologies from its top position to emerge as the best employer of the Indian IT industry in 2003.
Infosys Technologies is now compliant with Section 404 of the United States' Sarbanes Oxley Act of 2002 (SOX Act) well ahead of the mandatory deadline of March 31, 2007.
As a part of its expansion plan, Infosys, the biggest software exporter from Orissa, had given a commitment to resume construction work on its second campus at the Infocity-II region by April.
The strategic buyout of Axon will increase Infosys' share in the high-growth SAP segment and consolidate its position in Europe.
IT major Infosys Technologies has incurred a capital expenditure of Rs 63 crore in its three loss-making subsidiaries in China, Mexico and the US.
Infosys Technologies and Association for Computing Machinery have signed an agreement to create a new annual award that recognises young scientists and system developers.
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.
Software major Infosys Technologies announced on Wednesday the launch of South Asia chapter of Fulcrum -- the Finacle User Forum.\n\n\n\n
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.
While IT bellwether Infosys Technologies added 4,429 to its headcount in the last quarter, three of its employees were also in the news for the wrong reasons leading to two suspensions and one sacking in the IT firm.
We are very clear we are building a company that will outlast the founders, demonstrate its longevity and sustainability, and be there for several generations, says the Infosys CEO.
Key among those would be US Federal Reserve Chairman Ben Bernanke's speech late on Monday evening, fourth-quarter earnings report by information technology major Infosys Technologies and India's industrial production data during the week.
IT firm's performance shows trouble in products segment, a majority of whose share comes from Finacle
IT giant Infosys Technologies on Thursday announced that Prime Minister Manmohan Singh will inaugurate the company's corporate training centre in Mysore on Saturday.
The process is long-drawn, meticulous, and in consonance with the company's stated vision: 'To be a globally respected corporation that provides best-of-breed business solutions, leveraging technology, delivered by best-in-class people.'
US-based PerformanceRetail, Inc, which provides technology solutions for the retail industry, said it had picked India's Infosys Technologies Ltd to provide it services in product development and maintenance.
IT bellwether Infosys Technologies is on the prowl to acquire small and medium business process outsourcing companies that fit strategically with the operations of its subsidiary, Infosys BPO.
The Indian IT industry has consistently protested the anti-outsourcing rhetoric of American politicians.
Infosys Technologies has placed around 5 per cent of its global workforce under the scanner. The move, which is being seen as an offshoot of the global financial meltdown, is expected to affect over 5,000 of the 100,000-plus employees on the company's rolls.
Constraints in acquiring land is hindering software major Infosys Technologies from expanding further in Bangalore, Nandan M Nilekani, chief executive officer, and managing director said on Wednesday.
IT industry's two giants present a contrast.
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
He spoke on key strategies the company is adopting to tide over the rough times.
With a view to tap the east Europe market better, the Nasdaq-listed software major Infosys is planning to set up a centre in Czechoslovakia for both information technology and business process outsourcing operations.
"We plan to hire 2,000 people in the next four-five months or by the end of this fiscal. Currently we are 16,000 people in India."
Quarterly revenues may be volatile, as spending will be driven by the global macroeconomic situation
'We treat attrition as a business problem, not just an HR problem,' says Amitabh Chaudhary, Infosys BPO CEO.
Employees of Infosys Technologies may get pay hikes below 10 per cent this year, the company's chief financial officer S D Shibu Lal said on Tuesday.
IT bellwether Infosys Technologies on Tuesday said it has increased its headcount by 4,429 employees in the last 3-month period.
