Infosys Technologies Ltd, India's No. 2 software services exporter, said on Friday its board will consider on Sunday a plan to ‘sponsor’ an issue of American Depositary Receipts against existing equity shares.\n\n
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).
Software major Infosys Technologies Ltd on Thursday said it would contest the ruling by the Chennai bench of the Intellectual Property Appellate Board, which has held that it cannot hold a monopoly on the trademark 'Infosys.'
The impact of the global meltdown has forced India's second largest IT bellwether Infosys Technologies to freeze wage hikes and hiring in new fiscal 2009-10.
IT major Infosys Technologies Ltd became the first Indian company to remotely ring the opening bell of Nasdaq from its Mysore campus on Monday.
Infosys Technologies Ltd said that its plan to enter China may have hit a roadblock due to the current outbreak of Severe Acute Respiratory Syndrome.
The sponsored ADR issue, which is equivalent to 4 million to 6 million ADRs, was approved at an extraordinary general meeting held in Bangalore.\n\n\n\n
This is the highest cover offered by any insurance company, under any single employer-employee group life insurance policy in India, Thomas Mathew T, managing director, LIC, told media. The policy between Infosys and LIC was initated in 2002 with a uniform cover of Rs 10 lakh (Rs 1 million) per employee covering 12,000 employes for a total sum of Rs 1791 crore (Rs 17.91 billion).
Govt should examine how SEZs can overcome their main problems over land acquisition.
Tata Group ranks 13th, Reliance Industries 15th and Infosys 26th. Tata Group and Reliance Industries have been ranked ahead of American industrial conglomerate General Electric (17), German car manufacturer BMW (20), Japanese auto firm Honda Motor (22) and telecom major AT&T (23), among others. However, while the Tata Group slipped in ranking from the sixth place in 2008, Reliance Industries has improved on its previous year's 19th rank. Infosys was not in the list in 2008.
Infosys Technologies plans to set up five SEZ in Tier II cities -- Mysore, Bangalore and Thiruvananthapuram.
Trading sentiment in the equity market will largely be driven by domestic corporate quarterly earnings, any update related to US tariffs and foreign fund movements this week, analysts said. Investors would also focus on world market trends, movement of global oil benchmark Brent crude and the rupee-dollar trend for further cues, experts noted.
Indian IT companies, whose spectacular growth have made many of them household names, have failed to make it to the global list of 100 fastest-growing tech companies prepared by Fortune group magazine Business 2.0.
The audited consolidated financial results of the company and its subsidiaries as per Indian GAAP would also be\nconsidered at the board meeting.
After a sharp correction over the last few months, analysts seem to be turning cautiously optimistic on the information technology (IT) sector and suggest there could be trading opportunities in select counters despite revenue and growth concerns that still plague the sector. "IT stocks valuations have corrected 17 per cent-49 per cent and stock prices have corrected 9 - 42 per cent since mid-December 2021. Nifty IT index valuation has corrected by 27 per cent and price by 21 per cent. "About two quarters ago, we made a case that valuation drivers have peaked.
Indian software giant Infosys Technologies Ltd said it was under pressure to lower prices as clients sought to cut costs and cut-rate rivals tried to corner business in a global economic slowdown.
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
Indian software giant Infosys Technologies Ltd is taking in more entry-level engineers this quarter to cope with rising outsourcing business, matching the record hiring in the preceding three months, analysts said.
Infotech major Infosys Technologies Ltd is scouting for acquisitions in 'all geographies' to expand its overseas footprint, the company's chief executive officer and managing director S Gopalakrishnan said.
The deal size was, however, not disclosed. T-Mobile is one of the world's largest mobile operators with more than 125 million customers worldwide and about 16.7 million customers in the UK itself.
Software major Infosys Technologies Ltd has signed an agreement to acquire Australia-based Expert Information Services for $22.9 million.
Software and consulting major Infosy Technologies on Thursday announced that its banking business unit was partnering with Microsoft Philippines
A total of 100 students from 70 universities across the world are expected to arrive at Infosys Technologies as part of its global internship programme, 'InStep', officials of the Nasdaq-listed company, said on Friday.
Developed by the US Green Building Council, LEED Green Building System aims to promote design and construction practise that increases profitability while reducing the negative environmental impacts of buildings. The Bangalore-headquartered company was working with experts on the subject to employ the latest technologies in every aspect of energy consumption in areas like lighting and air-conditioning, the company said in its annual report filed with the SEC.
"We are looking for acquisitions," Infosys chief executive officer and managing director Kris Gopalakrishnan told reporters in Mumbai on the sidelines of the Nasscom India Leadership Forum on Thursday.
Kris is gentle but firm, consultative yet decisive, and thoughtful yet action-oriented
Infosys Technologies, India's second-largest IT services firm, appears set on having an insider as its chairman when N R Narayana Murthy retires in August next year.
Expectations among investors are high on Infosys Technologies as it comes out with a bonus share option or a stock split to shareholders on Tuesday, synchronising with the company breaching the $1 billion mark in revenues.
Infosys Technologies Ltd will recruit 8,000-10,000 workers in the current fiscal, while its new subsidiary Infosys Consulting Inc would employ 75 people in its first year, Nandan Nilekani, managing director and CEO, said in Mumbai on Thursday.
IT major Infosys Technologies is all set to expand its operations in Hyderabad with a second campus that would come up in 550 acres with an investment of Rs 1,250 crore (Rs 12.50 billion) over the next ten years.
Infosys Technologies is investing an additional $10 million to further globalise its banking solutions product Finacle, besides expanding its sales force in Europe and Asia Pacific for banking products.
