External investigators say case of 'gender insenstivity'.
Partly an answer to downturn, political pressure; trend should shift again, say analysts.
From the Sensex pack, Tata Steel, IndusInd Bank, Infosys, UltraTech Cement, NTPC, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, ICICI Bank and Maruti were among the major winners. Titan, Nestle, Larsen & Toubro, Axis Bank, ITC and Asian Paints were among the major laggards.
Employees, clients concerned about further top-level exodus; could hurt productivity, say experts.
The increases are expected to be in the 8 to 12 per cent range, which do not compare too badly with the 13 to 15 per cent increments of pre-slowdown years such as 2007-08.
The senior management of India's second-largest IT services provider Infosys Technologies on Thursday insisted that all was well with the company's performance, and the IT sector as a whole.Infosys CEO and MD S Gopalakrishnan said, "Our margins (the company saw a 2.8 per cent improvement in its operating margins or OPM this quarter) are very good. We see a positive growth for IT services. It appears to be stronger this year than before."
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
Infosys recently hosted its first-ever global hackathon, which was held across 20 locations and saw participation from over 1,100 employees.
Infosys, India's second largest information technology (IT) services company, is likely to book an impact of less than $1 million (Rs 6 crore) due to the financial irregularities in the accounts of its business process outsourcing (BPO) arm, which led to the dismissal of the unit's chief financial officer, Abraham Mathews earlier this week.
Infosys Technologies co-chairman Nandan Nilekani is working on a book "on weekends". The book, to be published by Penguin, will be out next year.
Raising the share of manufacturing from about 17 per cent to 25 per cent of GDP is necessary, says S Gopalakrishnan.
Indian telecom czar Sunil Mittal and NRI businessman Anil Agarwal are among the four Indians featuring in the list of '48 Heroes of Philanthropy' compiled by business publication Forbes.
The Bangalore-headquartered company is believed to be evaluating two-three companies, which are in the revenue bracket of $100-200 million to eliminate some gaps that exist in its services offerings and increase focus on certain verticals, which have been least affected in the midst of the economic slowdown. It's reliably learnt that the company is looking at healthcare and energy and utilities as the two major areas for possible acquisitions.
Wage inflation will not blunt the country's competitive edge in the IT industry, according to software guru and chairman of Infosys, N R Narayana Murthy.
Supporting a strong Lokpal, Infosys Technologies Chairman Emeritus N R Narayan Murthy said reduction in corruption leads to faster economic growth of a country and this could have been the case in India also if graft had been curbed.
Also looks at setting up development and training centres in the US to tide over visa-related issues
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