From the Sensex basket, Mahindra & Mahindra, Tata Motors, NTPC, HCL Technologies, Larsen & Toubro, Infosys, Tech Mahindra and State Bank of India were the major laggards. Bharti Airtel, Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and IndusInd Bank were among the gainers.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
Several observers have questioned the weakness in execution of the 3.0 strategy.
'These are the two core skill sets that are required for any job, in any profession.'
The share buyback -- which will be the first in the company's 36-year history -- has been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to its shareholders.
Infosys has tried to bring stability to the troubled company, which was struggling to maintain its growth momentum in the changing dynamics of technology industry.
Among the Sensex firms, IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, Infosys, NTPC, Bharti Airtel, HCL Technologies and Axis Bank were the biggest gainers. Tech Mahindra and Bajaj Finance were the laggards.
76 families took a Qatar Airways flight from San Francisco on Sunday evening and reached Bangalore International Airport after a 20-hour flight. These employees were stuck in the US due to various reasons.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
Despite unprecedented levels of uncertainty in Samvat 2077, investors have little to complain about on the returns front. The BSE Sensex delivered returns of 38 per cent in this period, while the Nifty registered a return of over 40 per cent. As is the case in bull markets, companies in the small- and mid-capitalisation basket outperformed the benchmarks, with returns almost twice those of frontliners.
Infosys chief Vishal Sikka also said that demonetisation has shown to the world that Indians are ready to adopt new technology disruptions.
TCS saw its headcount reduced by 6,333. Infosys' headcount decreased by almost 7,500, and HCLTech saw its employee numbers shrink by 2,299.
Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million
The Karnataka government on Wednesday put the reservation bill for Kannadigas in private firms on hold amid fierce criticism from business leaders and tech tycoons.
There is a surge in number exploring a change at middle and senior levels; recruitment agencies cite restiveness on pay, work patterns.
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
Infosys, in April, had said that it will pay up to Rs 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.
Asked what kind of pricing environment did he see in the slowdown period, Gopalakrishnan said the pricing was stable for now as the focus on cost was there since 2008 as the companies realise the perils of global slowdown.
In yet another high profile exit at Infosys, India's second-largest information technology (IT) services company, Ashok Vemuri, head of operations (Americas) and global head (manufacturing and engineering services), has resigned.
Infy to cast wide net in CEO search, may go back to 'alumni'
Infosys has cash in excess of $6.1 billion, which would come down by one-third after the payouts.
Information technology (IT) services major Infosys has said its increasing focus on the domestic market wouldn't erode the company's margins. Its strategy of selectively taking up projects that require the deployment of products and platforms would help the company maintain its margins, it added.
Infosys already works with a communication services provider major in Western Europe in the digital TV space. The company has a solution called modular content accelerator which serves as an interface between stakeholders of consumer marketing and IT. The solution provides an operator the means to efficiently manage content catalogue, bundled offers and pricing, apart from providing interactive services through multi-media content storefront.
Experts believe it is extremely important for Sikka to connect with employees to gain acceptance at Infosys, which has had home-grown leaders so far.
Infosys Technologies has been ranked as the tenth best company in terms of leadership.
Its longest-serving CEO (he held the position from 1981 to 2002), he leaves Infosys when the gap between it and the number one information technology services company (TCS) is growing wider.
As Japan makes frantic efforts to deal with the nuclear radiation leaks from the Fukushima Daiichi nuclear power plant in the aftermath of earthquake and tsunami, Indian information technology firms have begun relocating the families of their Indian employees in the country.
Shares of Tata Consultancy Services (TCS) jumped 4 per cent on Tuesday, taking its market valuation to above Rs 15 lakh crore mark. The stock of the country's second most valued firm by market valuation jumped 4.05 per cent to settle at Rs 4,133.45 apiece on the BSE. During the day, shares of the company climbed 4.45 per cent to Rs 4,149.75 -- its all-time high.
Infosys had bid at 600 pence a share for the UK company. Infosys will get the one per cent inducement fee that Axon has to pay to the party unable to close the deal.
In August, Vishal Sikka had spoken about a new strategy, focused on renewing core business while building new capabilities like design thinking at the same time.
Infosys usually gives a wage rise to employees every April.
Though Infosys did not elaborate why it has parked more money with PSBs, bankers indicated the prime reason was the high deposit rates. Large private players such as ICICI Bank, which were till early last year offering higher interest rates, have withdrawn from that segment. In contrast, till November-end, PSBs were offering up to 400 basis points higher on bulk deposits to mop up resources for the increase in demand for loans.
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
Infosys had guided for a revenue growth in the range of 11.5-13.5%, which has now been lowered to 10-12%.
After his retirement from Infosys last year, Gopalakrishnan has been active in philanthropy, science and technology
Starting its journey with a gross revenue of $5 million during its stock market debut on June 14, 1993, Infosys has reached dizzying heights, with a revenue of $10.93 billion in 2017-18
Larsen & Toubro, Axis Bank, Reliance Industries, UltraTech Cement, Mahindra & Mahindra, IndusInd Bank, ICICI Bank and Tata Steel were the other big gainers. Sun Pharma, HCL Technologies, Asian Paints, Nestle and Infosys were the laggards.
Investors' wealth jumped Rs 13.78 lakh crore on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls. The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade. The benchmark finally ended at 76,468.78, registering a sharp rally of 2,507.47 points or 3.39 per cent.
The report said recent concerns about manpower like attrition, quality of talent and rising wages, have compelled IT companies to take a relook at their so far successful offshore business model more than ever before.
One of the reasons is the increasing number of upgrades in analysts' recommendations.
