Infosys' acquisition of Switzerland-based Lodestone Holding would provide the software firm respite from investors who have, for long, demanded the company tweak its strategy of walking away from deals that might dilute earnings. Investors have also demanded the company's unutilised cash balances be used to revive growth.
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.
NMB Bank, a leading Bank from Zimbabwe, has selected Infosys' Finacle suite of enterprise banking solutions.
India's second-largest software services firm expects its topline to grow 7.5 - 9.5 per cent in FY2019-20 in constant currency terms.
Country's second largest IT firm Infosys has crossed the $2 billion revenue mark in Europe for the first time, driven by strong demand for consulting and system integration (CSI) services.
Infosys boss says new strategy moving in right direction, optimistic of regaining bellwether status.
Benchmark equity indices continued their record-shattering spree on Tuesday, with the Sensex and Nifty hitting their fresh all-time high levels in early trade, amid persistent foreign fund inflows. Also, buying in Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and HDFC twins added to the positive market momentum. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 381.55 points to hit its all-time peak of 65,586.60 in early trade.
Nasdaq-listed information technology (IT) services firm Cognizant will incur the cost of $400 million over two years as it sets to restructure its operations amid sluggish growth rates. Its NextGen Program aims at simplifying the operating model, optimising corporate functions, and consolidating and realigning office space to reflect a post-pandemic hybrid work environment. As part of this structural shift, Cognizant will eliminate 80,000 seats, or 11 million square feet of real estate in large cities in India.
IT giant close to acquiring Thomson Reuters' health care business.
The amount considered for the acquisition is 1.3 times the revenues Loadstone is expected to garner in 2012
Erin Green, former head of immigration, Infosys says says only the loss of a big client could push Infosys to correct its internal corporate culture.
TCS kicked-off the Q1FY17 earnings season for information technology companies on Thursday.
What is perhaps most fascinating is that Infosys was not the first large Indian IT company to raise its head, nor has it been the largest; but it has often shown a remarkable ability to market itself so that it has punched above its weight.
Murthy said there was a need to change the mindset of the employees to focus on large deals.
The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.
The company plans to strengthen consulting capability in addressing the needs for the next phase of growth.
The company is reaping the benefits of change as focus shifts back to traditionally-profitable businesses and deal volumes.
Infosys' aspirations to improve revenue per employee might also prove to be a tall task, believe analysts.
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 two IT majors -- Infosys and TCS -- delivered disappointing results for the fourth quarter of the 2022-23 financial year (Q4FY23). Poor macro conditions and weak sentiment in the banking, financial services and insurance (BFSI) space accounted for the miss. For TCS, revenue in constant currency (CC) terms grew at 0.6 per cent on a quarter-on-quarter (QoQ) basis. Weakness was visible in North America, primarily due to deferred discretionary spending.
March was the first full quarter for Infosys under its new CEO Salil Parekh.
Infosys is yet to announce its 2014-15 results.
Company feels automation is a big tool to drive down costs and improve efficiency
With Infosys emerging out of an uncertain phase, the new management, led by CEO & MD Salil Parekh, is trying to catch up with market leaders, with the new strategy in place.
These jobs are not being cut and that the employees will be reallocated to other projects
The Bengaluru-based firm's revenue grew 17.3 per cent to Rs 20,609 crore in the quarter under review as compared to Rs 17,567 crore in the same period of 2017-18
The strategic buyout of Axon will increase Infosys' share in the high-growth SAP segment and consolidate its position in Europe.
Around 1,680 deals worth over $80 billion will be renewed next year. Among Indian vendors, Infosys, TCS, and HCL Technologies are better placed to see a higher growth rate in 2020.
Along with a robust set of numbers, the management too sounded confident of its growth prospects
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
The $140-billion Indian IT market is facing challenges on multiple fronts including stricter visa regime in key markets and shortage of skilled manpower for new technology areas like data science.
Stamp of approval on CEO's strategy and long-term goal for the company
The deal will give Infosys higher-end consulting capabilities and enable it to grow in a non-linear fashion. It will also enable Infosys to acquire some global names as clients and improve the Indian major's footprints in Europe at a time when Indian firms need to reduce their dependence on the US market.
Founder Narayana Murthy has lost eight top executives since returning to the outsourcing company.
Infosys, TCS, and Wipro still rake in profits, but they face challenges ranging from a stronger rupee to the likes of IBM and Accenture romping on their home turf.
Shibulal said currency effects and cancellation of a large transformational programme in Europe led to 'weak' quarterly results.
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.
Sikka said second quarter will be better than the April-June period
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
Some analysts believe underperformance of the TCS stock may continue.
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