Infosys Technologies, will announce its Q4 and FY15 results on April 24
The deal will give Infosys higher-end consulting capabilities and enable it to grow in a non-linear fashion. It will also enable Infosys to acquire some global names as clients and improve the Indian major's footprints in Europe at a time when Indian firms need to reduce their dependence on the US market.
West Bengal government hopes that Infosys Technologies will follow in the footsteps of other IT majors in setting up its development centre in the state.
Infosys Technologies, India's No. 2 software services exporter, is undecided on the timing of its proposed American Depositary Share issue, a company official told Reuters on Friday.\n\n\n\n
Perennial traffic problems in Bangalore and high hotel tariff and occupancy rate here are prompting some city-headquartered software biggies to think in terms of owning a hotel on their own for clients and visitors.
The Nifty IT Index, the gauge for the performance of information technology (IT) stocks, was the worst performer on the stock exchanges on July 29, a day after Infosys posted lower-than-expected earnings growth for the June quarter and sharply cut its revenue growth guidance for 2023-24 (FY24). The IT index was down 4.1 per cent, its biggest one-day fall in three months. The decline was led by Infosys, with its shares plunging nearly 8 per cent, followed by HCLTech (-3.2 per cent), Wipro (-3.0 per cent), and TCS (-2.7 per cent).
Infosys, TCS, and Wipro still rake in profits, but they face challenges ranging from a stronger rupee to the likes of IBM and Accenture romping on their home turf.
The total headcount of Infosys and its subsidiaries stood at 104,850 employees as on March 31, 2009, the company said in a statement. 'During the quarter, Infosys and its subsidiaries added 4,935 employees (gross). The net addition during the quarter was 1,772,' it stated. In the entire financial year ended March 31, 2009, the company took on board 28,231 employees, but the net additions for the year were just 13,663.
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.
Paying more attention to offering clients end-to-end solutions, even as the firm grew new lines of business, will be the way forward at Infosys Technologies.
Finance, ICICI Bank, Mahindra &h Mahindra, Kotak Mahindra Bank and Titan were among the gainers. Bharti Airtel, Adani Ports, Tech Mahindra, Reliance Industries, Axis Bank, Larsen & Toubro were the laggards.
"What has changed in the last two quarters is that the markets have improved and deals are coming back. We see more deal-flows," Infosys' CEO and managing director, S Gopalakrishnan, told reporters on the sidelines of a CII meet in Mumbai on Wednesday.
Crisil has assigned corporate governance 'CG' and value-creation rating 'GVC level-1' to Infosys, indicating the highest capability to create wealth for stakeholders while adopting corporate governance practices.
Infosys has added 27,000 employees in 2008 so far. Developing its human resource and creating a training and recruitment engine is high on its agenda.
While having Murthy around will certainly help bolster employee morale, Infosys will have to go in for more process innovation and automation.
IT major Infosys Technologies Ltd on Thursday said that it would invest Rs 800 crore more during the current fiscal.
State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations
Against the backdrop of a clampdown on visas by the US and growing antagonism towards foreign workers and immigrants in that country, Infosys Technologies, India's second-largest IT services firm, is mulling an 'extreme offshoring' model to help reduce its dependence on H1 and L1 visas.
That's how Infosys CEO Nandan Nilekani sees the country's impact on the US economy, through globalisation and outsourcing.
"People addition is on track for 45,000 (employee hiring) target for the financial year 2012. The company will focus on local hiring. We have hired 1,000 people in the US in the last four quarters," Infosys Chief Executive Officer and Managing Director S D Shibulal said.
Infosys made this position clear, a day after its chairman and chief mentor N R Narayana Murthy reiterated that his company would not act on any CVs received from Satyam employees to ensure that nothing is done that would adversely impact the Hyderabad-based firm's future.
IndusInd Bank was the biggest gainer in the Sensex pack, rising 3.25 per cent, followed by Tech Mahindra, Wipro, Bharti Airtel, HCL Technologies, Axis Bank, HDFC Bank, RIL, TCS, L&T and Infosys. State Bank of India, NTPC, Maruti, Bajaj Finserv, Tata Motors and Power Grid were among the laggards, slipping up to 2.94 per cent.
IT bellwether Infosys Technologies on Thursday said its subsidiary Infosys BPO will acquire US-based McCamish Systems for an initial payment of $38 million (about Rs 176.6 crore).
Infosys, one of the biggest employers in the country, has said that all general hiring in the company has come to a standstill as business has slowed down considerably. Though Nilekani did not give out any numbers, it is understood that the Nasdaq-listed company is resorting to need-based recruitment, had made offers to 18,000 students of the 2009-10 batch from different campuses.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
Information technology leader Infosys Technologies Ltd on Friday said it will consider a bonus issue of its shares on April 14, taking the value of its scrip to a 52-week high of Rs 3,400 on the Bombay Stock Exchange.
The award has been instituted by the Palladium Group Inc, a leading global professional services firm that enables companies to better measure and manage performance using the BSC approach, Infosys said in a statement.
Infosys chief Kris Gopalakrishnan on Wednesday expressed hope that DTC and GST will be pushed through in the forthcoming budget, while Genpact vice chairman Pramod Bhasin feared economic reforms will be tough going forward.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
iGATE Global Solutions said on Monday that it has appointed Mohan Sekar as chief delivery officer-IT services.
Grappling with falling sales and a dropping bottom line, companies have had no alternate but to put cost-cutting measures in place. Infosys, for example, has cut variable pay, made appraisals more stringent and asked employees to make a one time saving of $10.
Infosys Technologies Ltd has agreed in principle to set up a software development centre in Kolkata, West Bengal Chief Minister Buddhadev Bhattacharjee said on Friday.
Infosys Technologies Limited has acquired 87,50,000 equity shares, 23 per cent on a fully diluted basis, of its BPO subsidiary Progeon Limited from Citicorp International Finance Corporation for Rs 530 crore (Rs 5.3 billion).
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