A slowdown in the global economy and sub-prime crisis in the banking, financial and insurance services sector, its major revenue earners, force the domestic IT industry to take a relook at its hiring strategy.
IT giant close to acquiring Thomson Reuters' health care business.
Q4 turned out to be a much softer quarter than we expected, and some of the ramp-ups did not happen.
Training a person for 16 weeks (4 months) in the US costs something like $50,000 (around Rs 21.25 lakh). However, the education system is much better in the US. So we provide short-term training courses of about 15 days for new recruits there
Market sentiment around the stock has continued to be positive on the back of improving outlook for the US economy and anticipated weakness in the rupee.
Analysts expect the company to post 6.2% sequential growth in rupee revenue.
The market capitalisation of BSE-listed firms touched an all-time high of Rs 296.48 lakh crore on Friday as the benchmark Sensex hit its new life time peak amid bullish investor sentiments.hit its new lifetime peak. Rallying for the third day running, the 30-share Sensex surged 499.42 points or 0.78 per cent to reach its all-time high of 64,414.84 in early deals. Thanks to the rally in equities, the market capitalisation (mcap) of BSE-listed companies jumped to Rs 2,95,72,338.05 crore.
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
Walmart has selected three IT vendors in India -- Infosys Technologies, Cognizant Technology Solutions and UST Global -- for multi-year contracts worth over $600 million (around Rs 2,750 crore).
From the Sensex pack, ITC, Bajaj Finserv, Kotak Mahindra Bank, Bajaj Finance, Axis Bank, HCL Technologies, Wipro, UltraTech Cement, Maruti and Infosys were the biggest gainers. Tata Steel, Tech Mahindra, Nestle, Larsen & Toubro, Tata Motors and Titan were among the laggards.
After high-profile exits in the past couple of months, Infosys, the country's second largest information technology services company, has undertaken a top-level management restructuring.
The award will be presented to Nilekani by Yale University president Richard C Levin at the Yale CEO Leadership Summit of The Chief Executive Leadership Institute.
N R Narayana Murthy, Chairman, Infosys, has plans to turn the company into a bigger, stronger, and global player.
Insurance, telecom, infrastructure, FMCG and energy are unlikely to downsize; Elsewhere, only top performers are safe.
Infosys Chairman Narayan Murthy equated the present economic crisis in the US to the Great Depression. "The present crisis in the US reminds me of the 1929 depression. More signals are emanating of the 1929 depression than the 70s' one. I have a suspicion that it (the present crisis) could be a longer one," he said. A recovery from the present crisis may take longer than 18 months, he said.
The Union ministry of corporate affairs (MCA) has informed Infosys that the appointment of Rohan Murty, son of co-founder and executive chairman N R Narayana Murthy, does not require its approval.
Indian IT majors may have tightened their belts in various areas to contain costs as a fallout of the global economic slowdown. But most of them see continuing value when it comes to employee training, even though it skims crores (tens of millions) of rupees off their top-lines.
Indian IT firms have started mining smaller clients with more fervour given that the revenue accruring from their top clients has been declining due to the US slowdown and the sub-prime crisis. Consider this. Revenue accruing from the top clients of the five leading IT firms by revenue - Tata Consultancy Services, Infosys Technologies, Wipro Technologies, Satyam Computer Services and HCL Technologies - dropped by anywhere between 0.2 per cent and 4 per cent
India's second-largest IT services provider Infosys Technologies has hired recruitment services provider MaFoi to help its employees who fail to pass the final test to gain employment elsewhere.
This is the first time, perhaps, Infosys has appointed as CEO a person who has never managed P&L or has any experience in managing lakhs of employees.
Comments awaited on top exits, management rejig, products business demerger, apart from FY14 revenue forecast
Team-building, lifting employee morale, stanching the attrition rate are a few immediate tasks on his hands.
The targeted budget for the project was reportedly projected at 750,000.
Infosys has brought back the old structure of shared responsibility between the CEO and the COO
The UID will be used just for verifying someone's identity. It would be a 'yes', 'no' kind of an exercise. If someone's identity needs to be verified, only then these numbers will come in handy, says the UIDAI boss.
A strident bill concerning US work visas for non-US citizens has been re-introduced before the US Senate. A look at the bill.
Flush with cash and stung by the rising value of the rupee against the US currency, Indian information technology companies are venturing into diverse geographies -- from Brazil to Ecuador.
Infosys co-founder NR Narayana Murthy on Thursday called out "fake news items", which claimed he endorsed automated trading applications and warned the public not to fall for such fraudulent claims. He also slammed "fake interviews" that used "deepfake pictures and videos" of him. In a series of posts on X, Murthy drew the attention of the public to false content being put out by malicious sites and products or services being sold fraudulently using his name and urged people to report any such instances to the concerned regulatory authorities.
The poster boys for the information technology sector are already hiring in thousands -- both freshers from campuses, as well as experienced people (called 'laterals').
India second largest software firm Infosys on Tuesday said it plans to hire close to 2,000 people in the US by the end of this year.
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
The Infosys saga shows how efforts to remote-control a company by its powerful promoter, even with good intentions, might hurt the entity, says Asish K Bhattacharyya.
Nandan Nilekani, co-founder and chairman of Infosys and the founding chairman of UIDAI, has donated Rs 315 crore to the Indian Institute of Technology (IIT) Bombay.
Infosys on Friday posted healthy growth in earnings for July-September 2013, and raised the lower end of its FY14 revenue guidance, indicating the company had regained its momentum.
The Bengaluru-based company is currently engaged with around 20 projects in the government sector, including those of central government departments and state governments.
Citing an example of traffic rule violation in the national capital, Infosys founder N R Narayana Murthy on Tuesday said that he feels uncomfortable coming to Delhi because it is the one city where indiscipline is the highest. While speaking at the All India Management Association (AIMA) Foundation Day, Murthy shared that people should treat community property better than personal property as one of the values to avoid issues of dishonesty in public governance. "I really feel very uncomfortable coming to Delhi, this is one city where indiscipline is the highest.
Reminiscing time spent at the firm he co-created with six other friends in 1981, Infosys non-executive chairman S Gopalakrishnan said many major events in his life are linked to major milestones of Infosys.
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