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.
Infosys Technologies Ltd on Wednesday as part of the MoU between the company and government of China it would train 100 students from China.
Nasdaq-listed software major Infosys Technologies said, on Wednesday, that it will recruit 8000-10,000 people this fiscal year and invest $21 million for expansion.
In a major top-level management restructuring, India's second largest software firm Infosys on Saturday named veteran banker K V Kamath as the new chairman to succeed founder N R Narayana Murthy, who retires in August.
Infosys and its CEO Nandan Nilekani are both working towards becoming global brands.
The Bangalore-based company has said in a filing to Nasdaq 'additional information for 2010-11' that the average age of its employees in 2011 stood at 27 years.
Bangalore based IT major, Infosys Technologies Ltd, will maintain the $204 million to 207 million revenue guidance for the fourth quarter ending in March, despite business uncertainty emerging due to the Iraq crisis a top company executive said
From the 30-share Sensex pack, Tata Consultancy Services and Infosys jumped over 4 per cent each. HCL Technologies, Tech Mahindra, Adani Ports, Larsen & Toubro, Maruti and Reliance Industries were also among big gainers. Titan, IndusInd Bank, Hindustan Unilever, Axis Bank and HDFC Bank were the laggards.
Industry players said IT hiring was not as strong as it was in 2022. One reason is the high bench IT firms have due to earlier hiring.
N R Narayana Murthy, Nandan Nilekani and other directors of Infosys Technologies along with Foreign Institutional Investors own half of the company despite a gradual drop in their shareholdings.
Nasdaq listed Infosys Technologies will announce its third quarter results on January 12.
India's second largest software company Infosys Technologies will add 12,600 software engineers this fiscal, surpassing its record of over 11,000 additions in 2004-05, the company said on Thursday.
Infosys, according to sources close to the development, bagged the pilot project emerging as the lowest bidder (L1) in a competitive bidding process, which was attended by most Indian IT services firms and global companies like Siemens and IFS.
Infosys Technologies Ltd on Wednesday said it will invest $10 million to set up a software development campus in Shanghai in association with Zhangjiang Hi-Tech Park.
Indian IT major Infosys Technologies' proposal to increase its American Depository Shares from 3.5 per cent to between 6.27 and 7.78 per cent was amongst 50 foreign direct investment proposals
Srikantan Moorthy, vice president and head, education and research, Infosys, on the reasons why colleges in India don't churn out employable graduates, the competencies that Infosys looks out for in freshers and how young students can make themselves employable right from their college days.
The Income Tax Department has slapped a tax demand of over Rs 450 crore (Rs 4.5 billion) on software giant Infosys Technologies for wrongfully claiming tax exemption on onshore services by declaring them as software exports, Parliament was informed on Friday.
The company's total income stood at Rs 5,821 crore, showing an over six per cent rise, at the end of the September quarter of the current fiscal.
From the 30-share Sensex pack, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Asian Paints, Infosys and Maruti Suzuki were the biggest laggards.
India's second largest software and services exporter Infosys Technologies is keen on acquisitions in Europe and Japan and in the areas of consulting, SAP implementation and BPO. Senior officials of the company said that they would be comfortable with a deal size of $600-700 million (around Rs 2,930-3,420 crore).
From the Sensex pack, Tata Consultancy Services, Mahindra & Mahindra, ICICI Bank, Maruti Suzuki India, Power Grid, Axis Bank and Adani Ports & Special Economic Zones were among the laggards. On the other hand, HCL Technologies, Tech Mahindra, JSW Steel, Hindustan Unilever, Infosys and Titan were among the gainers.
Infosys Technologies, India's second-largest IT company, posted an 18.4 per cent increase in its consolidated net profit for the second quarter ended September 30, 2007, over the same quarter of the last financial year.
Wage hikes in both information technology and BPO sector is not likely to see any moderation from next year but would continue to grow at the current rate of 12-15 per cent annually, a senior Infosys Technologies official said.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
After Mexico, the company sets up delivery centre in Brazil
Global firm Accenture's fourth quarter results prove that the worst is behind for the Indian information technology (IT) sector, said analysts on Friday (September 27). While the pace and the broadness of recovery is debatable, they said Accenture's results and revenue growth guidance for the next financial year (FY25) reduce downside risks for Indian IT companies.
Sources say the company's decision has led to a lot of discontent among its employees, many of whom are said to have expressed their unhappiness on the company's intranet portal and 'bulletin board'.
The good news is that salary hikes are expected, though it is uncertain when they will be implemented.
IT services major Infosys on Wednesday announced a new programme, wherein it will offer 500 job seekers the opportunity to complete a fully digital, online diploma course certified by Salesforce. The programme aims to prepare Americans for 21st century careers in the technology sector. Leveraging Trailhead, Salesforce's free online learning platform, the program will train these 500 American workers, free of cost, for roles at Infosys as Salesforce Certified Administrators and Salesforce Industries Developers, a statement said. The programme, targeting recent graduates from major universities, liberal arts colleges, and community colleges, will help Infosys to create a workforce prepared for the future, it added.
Reacting strongly to the Satyam fiasco, IT major Infosys has said the fraud is a deliberate act and should be treated under criminal provisions.
From the 30-share Sensex pack, Sun Pharma, Reliance Industries, Infosys, Tata Motors, Infosys, Titan, Maruti and NTPC were among the major laggards. Mahindra & Mahindra, Tech Mahindra, HCL Technologies and IndusInd Bank were the gainers.
Infosys Tech sulked in early trades on Wednesday on reports that SEC has asked for a full review of the company's offer document, that may see the ADR conversion issue delayed a bit.
Human capital is mostly ignored by accountants, believes the management of India's second-largest information technology services provider, Infosys Technologies. Arguing that this should not be the case, the company has used the 'Lev & Schwartz' model and pegged the value of each employee at Rs 97 lakh (Rs 970,000), primarily based on the potential value of their future earnings for the company.
The company reported consolidated net profit at Rs 1,780 crore (Rs 17.8 billion) as against Rs 1,737 crore (Rs 17.37 billion) in previous quarter, a growth of 2.48 per cent (based on IFRS - International Financial Reporting Standards).
Software major Infosys Technologies plans to expand operations in Australia and Japan and also rapidly scale up its China operations, as part of its "de-risk" strategy.
The Bengaluru-headquartered company, which derives close to 26 per cent of its revenues from Europe, mostly from the UK, believes this approach will help it increase its footprint in non-English speaking European countries.
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