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.
'Binary fission will happen -- startups will lead to more startups.'
"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.
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.
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 Ltd on Wednesday as part of the MoU between the company and government of China it would train 100 students from China.
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.
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.
The plans of India's second-largest IT services provider, Infosys Technologies, to establish a second major campus in Bengaluru has cleared a major hurdle, with the Karnataka government giving its approval to convert the space -- where the software firm had acquired land for the purpose -- into an industrial area.
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
Tata Steel and Tata Motors dropped over 10 per cent each. Larsen & Toubro, HCL Technologies, Adani Ports, Tech Mahindra, Infosys, Tata Consultancy Services, Reliance Industries and Mahindra & Mahindra were the other big laggards.
Infosys and its CEO Nandan Nilekani are both working towards becoming global brands.
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.
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.
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
From the Sensex pack, Infosys, Tech Mahindra, Nestle India, Tata Consultancy Services, HCL Technologies, Asian Paints, Axis Bank, Zomato, Hindustan Unilever, and Bharti Airtel were among the laggards. On the other hand, IndusInd Bank, Tata Motors, Kotak Mahindra Bank, Bajaj Finance, HDFC Bank, ITC, Sun Pharma, Bajaj Finserv and UltraTech Cement were the gainers.
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.
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.
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).
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.
After Mexico, the company sets up delivery centre in Brazil
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'.
Reacting strongly to the Satyam fiasco, IT major Infosys has said the fraud is a deliberate act and should be treated under criminal provisions.
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.
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.
