In his second year at the helm, Infosys CEO & MD Salil Parekh looks optimistic about the company's growth prospects. With stability back in the industry, Parekh, in an interview with Bibhu Ranjan Mishra and Debasis Mohapatra, says turbulence is over and Infosys is on its way to regaining its old glory.
Tata Steel was the top gainer in the Sensex pack, rising over 4 per cent, followed by Axis Bank, SBI, ICICI Bank, Bajaj Finserv, L&T and Maruti. NSE Nifty advanced 69.90 points to 15,860.35.
The Army signed a $20-million deal with the Infosys-backed drone maker recently.
Titan was the top loser in the Sensex pack, shedding over 3 per cent, followed by M&M, HUL, Maruti, Asian Paints and IndusInd Bank. Nifty fell 91 points to 17,157.40.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
In an accompanying vision statement, the former finance minister highlighted his track record of serving in the Cabinet, helping to steer the economy through the toughest of times with the COVID pandemic.
Attrition is driving the hiring effort on campuses.
Equity benchmark Sensex rallied 487 points on Monday to close at a fresh lifetime peak, tracking gains in Infosys, HDFC twins and HCL Tech amid massive foreign fund inflows.
Yes Bank was the top loser in the Sensex pack cracking 6.51 per cent, followed by SBI, Axis Bank, Vedanta, Sun Pharma, ICICI Bank, IndusInd Bank, ITC, Infosys and Tech Mahindra, shedding up to 3.69 per cent.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
If the Indian son-in-law can become prime minister in another country, could the daughter-in-law have not become one here, especially considering that the Indian culture and tradition is for the bahu to live, think and act like her in-laws, asks N Sathiya Moorthy.
From acquiring creative agencies, to setting up onsite innovation centres and turning around BFSI with entirely new digital offerings, 2018 had seen the IT industry going from initial lows to new highs.
Infosys, Facebook, Genpact, and Cognizant, among others, have reached out to employees and offered support in different ways as the second wave of Covid cases sees an exponential rise. Companies are asking employees to stay indoors and prioritise the health and safety of their families. This is of significance as several information technology firms were going to take a call on work-from-home from June and had plans to allow some employees to come back to work.
Infosys aims to achieve an aspirational goal of $20 billion in topline by 2020.
While Infosys board gave a clean chit to the Panaya deal, Murthy stands firm on his allegations and said, 'sadly, it appears we will no longer know the truth'.
Rising protectionist policies followed under Trump administration has prompted all IT services players to hire more locals in onsite geographies, especially in US.
Firm's dented image following Sikka's exit could bring down revenues in the margin rich US market and force Infy to hire fewer Americans, as hiring locals in developed markets comes at a cost.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
Infosys has said it will look into allegations that $200-million Panaya deal was significantly overvalued.
HUL was the top loser in the Sensex pack, shedding around 4 per cent, followed by Maruti, HDFC Bank, PowerGrid, IndusInd Bank, HCL Tech and Bajaj Finserv. On the other hand, Axis Bank, SBI, ONGC and ICICI Bank were among the gainers. NSE Nifty fell 149.95 points to 13,817.55.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
ONGC was the top loser in the Sensex pack, ending 3.48 per cent lower. Tata Steel, Vedanta, Bajaj Auto, TechM, RIL, Hero MotoCorp, Kotak Bank, Axis Bank, and Infosys too fell up to 2.33 per cent.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
The Sensex opened with a huge positive gap of 418 points at 16,541 on positive cues from the global markets. Sensex finally closed with a marginal gain of five points at 16,128. Cipla, Grasim, Reliance Energy, ICICI Bank, Bharti and HDFC were gainers on Wednesday. Infosys, Tata Steel, Satyam, Hindalco, DLF and SBI were key losers. Debutant REC was the most active counter with a turnover of Rs 825crore, followed by RNRL, RPL, RIL and GSS America. Nifty closed up 6pts at 4,872.
Top gainers in the Sensex pack included Sun Pharma, IndusInd Bank, RIL, ITC, Vedanta, Asian Paints, HDFC and Infosys, advancing up to 3.02 per cent.
Investors' wealth jumped over Rs 59.75 lakh crore in the 2021-22 fiscal, helped by a largely buoyant trend in domestic stocks with benchmark index Sensex surging over 18 per cent during the period. Braving many headwinds in the latter part of the current fiscal, Sensex closed the 2021-22 financial year with a gain of 9,059.36 points or 18.29 per cent. Mirroring optimism in equities despite worries related to geopolitical tension, inflation concerns, FII selling, the market capitalisation of BSE-listed firms rallied by Rs 59,75,686.84 crore to Rs 2,64,06,501.38 crore in the entire 2021-22 fiscal.
Domestic equity benchmarks ended marginally higher on Thursday, with the Nifty settling at a fresh record, amid mixed cues from global markets.
'Our focus on fresher induction is high, given that they come in with certain advantages.' 'They do not have an unlearning process as seen in senior employees.'
The BSE market breadth was positive - out of 2,785 stocks traded, 1,650 advanced, 1,076 declined and 59 were unchanged on Tuesday.The Sensex finally ended with a gain of 156 points at 17,806. The NSE Nifty gained 69 points at 5,270
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
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).
Major IT firms such as Tata Consultancy Services, HCL Technologies, Infosys, Cyient, and L&T Technology Services have direct exposure to Boeing or its suppliers' ecosystem, which comprises engine manufacturers, body suppliers, and avionics providers. These firms provide services like application development, testing, engineering, avionics, and business process management for the Boeing 737 Max programme.
'They say 'a picture paints a thousand words', so seeing Rishi Sunak PM at the door of Number 10 can never be taken from us.'' 'It is a symbol that will go down in the history books.' 'It is the very embodiment of me saying to my boys, "You can be who you want to be",' notes James Salins in this must-read feature.
At least three brokerages, two domestic and one global, have said the company could cut its revenue growth guidance again in dollar terms
The record in net addition from the top four was in 2016-17, of 59,427 employees.
The industry is looking at a promising 2016, though experts and even the investors anticipate correction on the valuation side
The settlement with Sebi was seen as Infosys admitting guilt of the lapse, clearing out any legal or regulatory challenges and preparing ground for new chief executive officer Salil Parekh.
The time is ripe to accede to the founders' plea to declassify them as promoters.
The Sensex opened with a positive gap of 145 points at 15,840. It finally closed with a gain of 113 points (0.72%) at 15808. BHEL moved up 3.7% to Rs 1,830. L&T added 3.6% at Rs 2,774. Reliance Energy gained 2% at Rs 1,281.Reliance advanced over 3% to Rs 2,550. Satyam, SBI, Hindalco, M&M and RCom also finished with gains. Ambuja Cements, Infosys, ICICI Bank, HUL and ITC declined. Reliance was the most active counter with a turnover of Rs 361 cr followed by Reliance Petroleum.
Yes Bank was the biggest gainer in the Sensex pack, soaring up to 15.19 per cent, followed Tata Motors, IndusInd Bank, SBI, Bajaj Auto, Asian Paints, Axis Bank, Tata Steel and Maruti, rising up to 9.82 per cent.
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