'We will have to wait for at least two quarters of data to ascertain whether the recovery is real and sustainable.'
Infosys Technologies said on Tuesday that it will decide on issuing bonus shares or stock split during its board meeting in Bangalore on April 13.
Looking at the forthcoming year, while there will be macroeconomic challenges, industry in India is better off because we are still growing. If we manage the next 12-18 months, we should emerge stronger, says S Gopalakrishnan.
Even as the strong anti-outsourcing lobby in the US is forcing US lawmakers to take a relook at their H1-B visa strategy amid huge job losses, Infosys Technologies which holds the largest number of H1-B visas among all the Indian IT services companies has started reducing the number as a part of the company's policy to reduce its 'overseas bench' strength.
Infosys Technologies, India's second-largest IT services company, has revised upwards its hiring estimate for the current financial year to 40,000 up 11 per cent from the 36,000 projected earlier as the company ramps up capacity to capitalise on emerging opportunities.
From the 30 blue-chip pack, Tech Mahindra, Zomato, Tata Consultancy Services, Infosys, ICICI Bank, Bajaj Finance, Hindustan Unilever and HCL Technologies were the major laggards on Tuesday. Kotak Mahindra Bank, ITC, UltraTech Cement and Tata Motors were among the gainers.
Infosys Technologies appears to have set out on a journey of generational change which will unravel over the next few years.
Infosys Technologies has announced its first quarter results.
IT attrition rate is expected to be around 12% to 13% this year.
Software major Infosys Technologies on Tuesday announced a 33.31 per cent growth in consolidated net profit at Rs 1,641 crore (Rs 16.41 billion) for the third quarter ended December 31, 2008, over the corresponding period a year ago.
India's export-driven IT services industry would see erosion in margins due to the strengthening of the rupee, a top official of Infosys Technologies said on Friday.
The new move is expected to help boost employee morale.
India's second-largest IT services exporter targets Australia, Japan, South Africa.
India's second largest IT services company Infosys on Thursday made it clear that the company does not support moonlighting and said it has fired employees who were into dual employment over the last 12 months. Infosys, however, did not divulge the exact number of people who were "let go" on account of moonlighting. Last month, Wipro chairman Rishad Premji revealed that some 300 employees were fired as the IT services company had no place for any employee who chose to work directly with rivals while being on Wipro payrolls.
"It may not affect the industry, but there would be change in the perception and image of the industry if trade unions are introduced," Gopalakrishnan told a meet-the-press programme in Bangalore.
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.
'If you really love your work and are good at it, it does not matter what is work and life.'
Equity benchmarks Sensex and Nifty ended over 1 per cent higher on Friday, helped by heavy buying in Infosys and banking stocks amid a rally in global stock markets. The 30-share BSE Sensex jumped 684.64 points or 1.20 per cent to settle at 57,919.97. During the day, it rallied 1,199.79 points or 2.09 per cent to 58,435.12.
The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services. However, concern about the macro-environment continues to be a challenge. Among the top four - Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro - it is Bengaluru-based Infosys that has performed the best and that was evident in its full-year revenue guidance.
The risk-reward for the Indian markets, Morgan Stanley said, is turning favourable.
From the 30-share Sensex pack, Tata Consultancy Services, Titan, Infosys, Bharti Airtel, Bajaj Finance, ICICI Bank, HCL Technologies, and Tech Mahindra were the biggest gainers. NTPC and Asian Paints were the laggards.
Infosys cautioned global IT corporations that replicating its 'global delivery model' of outsourcing from India would pose challenges to them due to difficulties faced in business model re-engineering and result in lower revenues.
IT major Infosys Technologies, which has presence in 40 countries, will spend Rs 1,250 crore (Rs 12.50 billion) over the next ten years for its new facility at Pocharam, near Hyderabad, being constructed in a 450-acre special economic zone.
At the end of Q1, Infosys had 1,79,523 employees.
Unlike AI uses for consumers, the next generation technology for enterprises will unfold over several years and the biggest challenge is to unleash AI for next wave of productivity for businesses, Infosys chairman Nandan M Nilekani said on Wednesday. While speaking at 43rd annual general meeting (AGM) of Infosys, Nilekani said the initial AI doomerism has quietened down and people have accepted that, like any other general-purpose technology -- electricity, nuclear energy, the internet etc, gen AI (generative artificial intelligence) has enormous potential for good when advanced within the guardrails of responsibility.
Infosys Q1 net stood at Rs 1,527 crore, up 17.28 per cent. The company announced its results on Friday, a day after its co-founder and co-chairman Nandan Nilekani left for government's ID project.
French power equipment major Alstom on Tuesday said it was setting up a joint R&D centre with software giant Infosys Technologies in Bangalore with an investment of $39 million over the next three years.
This is the first time that the company has acquired land on its own without seeking the assistance of the state government's land acquisition agency, Karnataka Industrial Area Development Board.
