Investors' wealth jumped Rs 13.78 lakh crore on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls. The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade. The benchmark finally ended at 76,468.78, registering a sharp rally of 2,507.47 points or 3.39 per cent.
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.
Company set to see its three co-founders - Executive Chairman Murthy, Executive VC Gopalakrishnan and Chief Executive Officer and Managing Director Shibulal move out in the next few months
Infosys claims it can deliver a full-fledged applications store within 6-8 weeks, with its application platform Flypp.
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.
IT giant close to acquiring Thomson Reuters' health care business.
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
N R Narayana Murthy, Chairman, Infosys, has plans to turn the company into a bigger, stronger, and global player.
As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
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).
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.
According to Randstad Employer Brand Research (REBR) 2020, Microsoft India scored high on financial health, strong reputation and utilisation of the latest technologies. Others in the top 10 list are Samsung, Amazon, Infosys, Mercedes-Benz, Sony, IBM, Dell, ITC and TCS.
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.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
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.
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.
Insurance, telecom, infrastructure, FMCG and energy are unlikely to downsize; Elsewhere, only top performers are safe.
Q4 turned out to be a much softer quarter than we expected, and some of the ramp-ups did not happen.
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
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
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.
Analysts expect the company to post 6.2% sequential growth in rupee revenue.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
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.
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.
Comments awaited on top exits, management rejig, products business demerger, apart from FY14 revenue forecast
A strident bill concerning US work visas for non-US citizens has been re-introduced before the US Senate. A look at the bill.
'The top five IT giants are not hiring, but most of the freshers want to start their careers with the top five IT firms.' 'In today's scenario this is a challenge.'
Software majors Infosys and Wipro, who are vying with each other for global information technology outsourcing contracts, have now joined hands to outsmart competitors and win domestic banking contracts.
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.
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.
From the Sensex basket, Maruti, Mahindra & Mahindra, NTPC, JSW Steel, Larsen & Toubro, Reliance Industries, Axis Bank, and Power Grid were the major gainers. Nestle, Wipro, Tata Consultancy Services, HDFC Bank, Titan, HCL Technologies and Infosys were the laggards.
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.
'Such steps would be a barrier and something people do not want.'
The poster boys for the information technology sector are already hiring in thousands -- both freshers from campuses, as well as experienced people (called 'laterals').
Infosys has brought back the old structure of shared responsibility between the CEO and the COO
Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
