Infosys Technologies on Friday said it would bid for multi-crore rupee projects under the Unique Identification Database Authority, which would be headed by the company's former co-chairman Nandan Nilekani, as it sees no conflict of interest.
India's second largest IT firm Infosys has extended the tenure of its chief Vishal Sikka by nearly two years till March 2021, saying his initiatives have helped the company move towards reclaiming its industry leadership position.
The reduction in holdings comes at a time when technology firms are facing cross currency headwinds due to volatility in the global financial markets
He takes over from Ashutosh Vaidya, who will move into a full-time position as head of Global Delivery for Dell Services.
In fact, while IT bellwether Infosys Technologies (his earlier employer) got a drubbing at the bourses for not posting "better than expected" results, iGate stumped investors a couple of days back by announcing it plans to buy back shares from the public and delist from the Indian stock markets, while remaining listed in the US.
Though domestic IT majors like Infosys Technologies, Tata Consultancy Services and HCL Technologies painted a gloomy picture of the IT sector in the coming quarters, technology bellwether Cognizant Technology Solutions and Genpact, India's largest Business Process Outsourcing firm, not only posted better results but have also given decent guidance to the markets.
Company to invest $125-150 million to open a development centre in Shanghai.
Pravin Rao says firms with revenue of $600-700 millon will be preferred.
'Offshore services are expected to grow in 2010.'
Infosys aims to commission 55 MW of solar plants by end of 2016.
This project aims to transform India Post into a technology-enabled and autonomous market leader.
The earnings season this financial year is expected to start on an exciting note, as two information technology (IT) behemoths Infosys and Tata Consultancy Services (TCS) report their first quarter numbers on the same day. By now, TCS is expected to report a better set of numbers than Infosys.
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
DLF, with Rs 1,14,745 crore (Rs 1,147.45 billion) market capitalisation, has grabbed the seventh position, relegating Infosys, with Rs 1,11,357 crore (Rs 1,113.57 billion) m-cap, to the eighth position.
Among the Sensex firms, Axis Bank, Mahindra & Mahindra, Wipro, Tata Motors, HDFC Bank, Tech Mahindra, ICICI Bank, JSW Steel, Tata Consultancy Services, Infosys, HCL Technologies and Bharti Airtel were the major gainers. Nestle, Titan, Bajaj Finserv and UltraTech Cement were the laggards.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
Raamdeo Agrawal of Motilal Oswal Securities believes that the market is fairly valued at the moment. He does not expect any slowdown in corporate earnings for FY06-07.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
"We have to improve the institutional framework of companies... (and) need to give more powers and authority to independent directors. Also, the regulations should be enforced much faster," said Infy board member T V Mohandas Pai. Noting that the Satyam case is an aberration and unlikely to affect the domestic IT industry, Pai said the law needs to be amended to ensure that auditing standards are enforceable.
Scores of leading SEZ promoters, including Infosys Technologies, CMC Ltd, Hindalco Industries, NIIT Technologies, HCL Technologies, Orient Craft Infrastructure, L&T Phoenix Infoparks and K Raheja Corp, have sought more time from the Board of Approval, which is meeting in New Delhi on June 2.
BSE-IT index slumped over 10 percent after Infosys, the second-biggest software exporter, guided for a revenue growth of 6-10%, much below of 12-14% for the fiscal 2014.
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Fresher salary offered by IT companies in India had been stagnant at the level of Rs 3 lakh over the past 8-10 years.
The company's endeavour is to get independent of this visa matter as much as possible, Vishal Sikka said.
Infosys announced acquisition of digital commerce company Kallidus for $120 million.
Among the Sensex firms, Wipro jumped over 6 per cent, the most among the frontline companies. HCL Technologies, Tata Motors, Maruti, Tata Steel, Infosys, Tech Mahindra, Larsen & Toubro and JSW Steel were the other major winners. State Bank of India, Bajaj Finance, ICICI Bank, HDFC Bank, Axis Bank and IndusInd Bank were among the laggards.
Infosys BPO is planning on closing 3 deals to the tune of Rs 600 crores in the next 3-6 months.
India's information technology major Infosys bagged the prestigious Ashden Award for Sustainable Buildings, referred to as the Green Oscars.
Infosys is yet to announce its 2014-15 results.
Information Technology major Infosys Technologies on Monday said it will convert 16 million shares traded in India into American Depository Shares that would increase the float of its stock in the US stock market.
Infosys Technologies is planning to invest about Rs 400 crore
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
The route to that target is clear in Sikka's mind.
Sun Pharma, Bajaj Finserv, Tata Consultancy Services, Infosys, Hindustan Unilever, JSW Steel, Wipro, Maruti, HCL Technologies, Tech Mahindra and ICICI Bank were the other major gainers. State Bank of India, Tata Motors, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Tata Steel, Nestle and HDFC Bank were the laggards.
