Among the Sensex firms, Wipro, HCL Technologies, NTPC, Reliance Industries, Infosys, IndusInd Bank, Tech Mahindra and Tata Consultancy Services were the major laggards. IT stocks fell on profit-taking after rallying sharply in the past two sessions. Tata Steel, Titan, Maruti, Larsen & Toubro, ITC and JSW Steel 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 usually gives a wage rise to employees every April.
Infosys had guided for a revenue growth in the range of 11.5-13.5%, which has now been lowered to 10-12%.
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.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
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 Large private players such as ICICI Bank, which were till early last year offering higher interest rates, have withdrawn from that segment.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.
After his retirement from Infosys last year, Gopalakrishnan has been active in philanthropy, science and technology
One of the reasons is the increasing number of upgrades in analysts' recommendations.
Will Infy spring a surprise in subdued second quarter?
Mutual funds are loading up on information technology (IT) stocks on improved valuations and low downside risk after a double-digit correction in top companies like Infosys and Wipro. IT stocks were MFs' top sectoral buys in April when they invested a net of Rs 2,100 crore. In the first four months of 2023, the net investments in IT amounted to Rs 9,500 crore, shows an analysis by ICICI Securities.
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.
Infosys needs to be more innovative and disruptive with its product and services, keeping its focus on growth.
These jobs are not being cut and that the employees will be reallocated to other projects
Gives more reporting options to staffers who wish to flag a wrong practice; sequel to changes required from US law, experience.
Over 100 people, including 20 senior consultants and at least six VPs, have quit Infosys in 6 months.
Despite a shrinking market share and declining profitability, Murthy's return helped Infosys get a double thumbs-up from investors.
Oil companies, cement makers, IT stocks lead declines.
As many as 13 RRBs have finished implementing Finacle CBS solution for their operations.
Software major Infosys on Thursday said it would spend A$ 800,000 over four years in Australia's Smart Internet Technology Cooperative Research Centre (Smart Internet) for conducting research and development in emerging technology areas.
With employees as brand ambassadors, can the company get the grime off its image?
We have initiated the search now to ensure we have a seamless management transition to the next leader, says K V Kamath.
Infosys has has the highest proportion of non-independent directors on its board.
Sikka has influenced the company to break away from the old mould in more ways than one.
'A cutback in hiring and compensation growth by IT companies will have a significant impact on consumer demand, especially in the urban sector of the economy.'
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
CEO Vishal Sikka's strategy is in line with focus on academic research in new technologies.
Among the Sensex firms, Infosys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Wipro and JSW Steel were the major gainers during the morning deals. Nestle, Bharti Airtel, Axis Bank ITC were among the laggards.
Infosys to open first overseas campus in China
Vishal Sikka's may be a formidable name in the global technology segment, but he isn't your average geek who has time only for technology labs and technical journals.
Last year in the same quarter, Cognizant had toppled Wipro as the third largest software exporter in India.
Infosys has a new M&A head to enhance trust on inorganic growth.
Infosys has signed a deal with Fujitsu to provide co-development and functionality enhancement services to the Fujitsu suite of software products.
Parekh in a video address to employees expressed delight on leading the iconic company
A 700-750 pence per share final price for Axon ($900-910 million) cannot be ruled out by the time the bidding war ends, say CLSA analysts. However, regardless of whoever wins this largest overseas acquisition, Emkay Global Financial Services analysts opine that Axon could well prove to be a winner's curse since a long-drawn bidding war might tell on the bottom lines of both firms.
Possibility of higher growth and relatively cheaper valuations makes Street more positive on Infosys, says Sheetal Agarwal.
Sources said the spin-off, a joint venture company, was yet to be named.
The US had initiated investigation against Infosys and its larger rival Tata Consultancy Services (TCS) for possible violations of H-1B visa rules in June.
Information Technology major Infosys on Tuesday signed an agreement with Australian company Smart Internet Technology CRC to partner in research and development projects.
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