As he prepares to step down, Infosys chairman N R Narayana Murthy reflects on the company he built, the future of IT and the effects of globalization.
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.
Among the Sensex firms, Larsen & Toubro, Tata Consultancy Services, Infosys, HCL Technologies, Hindustan Unilever, Axis Bank, ICICI Bank and Wipro were the major gainers. Nestle India, Asian Paints, JSW Steel, Kotak Mahindra Bank and HDFC Bank were among the losers.
Given the uncertainty on the US economic outlook, the rising rupee, and the lack of clarity on imposition of fringe benefit tax on stock options, analysts believe the companies may strike a note of caution on FY08 earnings.
Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore. The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
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.
Nasscom president Som Mittal shares his view on issues such as the rise in value of the rupee against the dollar, hiring trends and the role of IT in e-governance.
Despite wage hikes, an appreciating rupee, and fewer working days nibbling at their profit margins during the quarter ended December 31, 2007, the five IT majors Tata Consultancy Services (TCS), Infosys Technologies, Wipro, Satyam Computer Services and HCL Technologies posted revenue and net profit figures that were in line with market expectations.
IITians need to play a larger role in nation building and contribute to society. This could vary from mentorship, creation of jobs and broader wealth creation, said Nandan Nilekani, co-chairman and co-founder of Infosys Technologies Ltd, during the weekend.
The Bengaluru-based company is currently engaged with around 20 projects in the government sector, including those of central government departments and state governments.
The country's second largest software exporter Infosys Technologies on Thursday said the domestic IT industry is likely to grow by 15 per cent this year against 30 per cent growth last year in the wake of global slowdown.
From the Sensex pack, HCL Technologies, Infosys, Wipro, Bharti Airtel, Larsen & Toubro, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints were the major gainers. Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major laggards.
Their fears were not unfounded, since the average salary increases of information technology professionals was down to 1.4 per cent for 2009.
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.
N R Narayana Murthy, co-founder and chief mentor of India's second-largest IT services provider Infosys Technologies, is planning to invest in US-based clean technology venture capital fund Siderian Ventures.
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.
Infosys: Sikka magic may revive double-digit revenue growth
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."
Partly an answer to downturn, political pressure; trend should shift again, say analysts.
Back home, the Nifty IT index - a gauge of the performance of the IT stocks on the National Stock Exchange (NSE) that has closely mirrored the performance of NASDAQ over the past few years - has lost nearly 2 per cent in CY23.
External investigators say case of 'gender insenstivity'.
