Swaminathan D ('Swami' Swaminathan), the current COO and senior vice president of Infosys BPO, is now the CEO and MD.
Tata Consultancy Services, India's number one information technology services company, could overtake Infosys to become the most profitable one for the first time on a full-year basis in 2012-13.
Infosys has a proven track record of delivering services for over 15 years now. So, the long-term growth prospects, from this perspective, are encouraging.
Infosys has been focusing on winning more lucrative digital technology and automation outsourcing contracts.
Through these new hires and centres, Infosys will also focus on enhancing its play in new technology areas like artificial intelligence (AI), machine learning, user experience, cloud and big data.
'Young people are digital natives.' 'Hence, their ability to learn coding and to become a full stack engineer is far more.' 'The demand for such people is more as we feel that if we hire people from campuses, we can train them to become what we want.'
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
The June quarter is usually considered as a seasonally strong period for the IT sector.
Several observers have questioned the weakness in execution of the 3.0 strategy.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
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.
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.
"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.
Infosys chief Vishal Sikka also said that demonetisation has shown to the world that Indians are ready to adopt new technology disruptions.
Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million
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 is a surge in number exploring a change at middle and senior levels; recruitment agencies cite restiveness on pay, work patterns.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
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.
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.
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.
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.
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.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
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.
Infy to cast wide net in CEO search, may go back to 'alumni'
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.
Infosys has cash in excess of $6.1 billion, which would come down by one-third after the payouts.
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.
Among Sensex firms, Bajaj Finserv and Bajaj Finance fell by over 4 per cent each. Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever were the other major laggards. Bharti Airtel, State Bank of India, Sun Pharma and NTPC were among the gainers.
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.
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.
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.
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.
Infosys usually gives a wage rise to employees every April.
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
