Stating that he is looking forward to working with talented Infoscions, Vishal Sikka said, "I am honoured to lead Infosys, an iconic company built by pioneers in the technology industry. I look forward to working with and learning from talented Infoscions around the world."
India's second largest software services firm, Infosys on Thursday saw the exit of its global head of strategic sales, marketing and alliances Prasad Thrikutam.
Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers. Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
The Nifty IT Index, the gauge for the performance of information technology (IT) stocks, was the worst performer on the stock exchanges on July 29, a day after Infosys posted lower-than-expected earnings growth for the June quarter and sharply cut its revenue growth guidance for 2023-24 (FY24). The IT index was down 4.1 per cent, its biggest one-day fall in three months. The decline was led by Infosys, with its shares plunging nearly 8 per cent, followed by HCLTech (-3.2 per cent), Wipro (-3.0 per cent), and TCS (-2.7 per cent).
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
Sikka said second quarter will be better than the April-June period
Co-founder of IT major Infosys N R Narayana Murthy and his author wife Sudha Murty cast their ballot for the Karnataka assembly elections on Wednesday and exhorted people to vote.
In a bid to make the IT students in Panama aware about the potential of India as an IT superpower and the rapid expansion of the industry in the country, the Union government is contemplating offering scholarships to them at the Infosys campus in Ban
Analysts say the company remains on a firm footing, stake sale by the founders will not impact fundamentals.
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.
Infosys, as part of performance improvement programme, allows 'poor performers' to undergo training to get into shape.
Stellar results compared to TCS led to reversal of valuation discount.
Information technology (IT) services major Infosys has said its increasing focus on the domestic market wouldn't erode the company's margins. Its strategy of selectively taking up projects that require the deployment of products and platforms would help the company maintain its margins, it added.
India's second-largest information technology services provider, Infosys Technologies, has issued letters to its employees stating they could opt for a one-year sabbatical to engage themselves in philanthropic activities. They would continue to draw 50 per cent of their salary during the period. Infosys crossed the 100,000-employee mark in India in the quarter ended September 30, 2008.
An Infosys employee is among those being held hostage by an unidentified armed man who stormed a downtown cafe in Sydney, the IT major said on Monday.
The sustainable impact of this process is under scrutiny, Tripathi added.
Punita is the founder and managing partner, Pacific Paradigm Advisors
Infosys, the country's second largest information technology exporter, plans to sharpen its focus on specific segments for select regions as part of its strategy for expansion and servicing of new markets.
From the Sensex pack, Larsen & Toubro jumped over 3 per cent.ITC, Reliance Industries, Sun Pharma, Kotak Mahindra Bank, Axis Bank, Infosys and State Bank of India were the other major gainers.
The largest subsidiary of India's second largest IT services company reported a 400-basis points improvement in operating margins, to 22 per cent in 2011-12.
Infosys, country's second largest software services firm, has not made any profit on government projects because of red-tapism and other issues, its co-founder N R Narayana Murthy said.
Domestic equity markets, which are at record high levels, will be driven by quarterly earnings, global trends and foreign fund movement, analysts said. The movement of rupee and global oil benchmark Brent crude will also be tracked by investors. "The direction of global stock markets, fluctuations in the rupee-to-dollar exchange rate, and movement in crude oil prices will all play a crucial role in influencing the overall market trend.
Some media reports stated that Rohan has been designated as a vice president, which is a relatively senior position in the company.
India's second largest IT firm Infosys has extended the tenure of its chief Vishal Sikka by nearly two years till March 2021, saying his initiatives have helped the company move towards reclaiming its industry leadership position.
Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million
Infosys Ltd, India's second-largest software services exporter, posted a 21 per cent rise in quarterly net profit, beating estimates, as stronger economic growth in Europe and the United States revived demand for outsourcing services.
From the Sensex pack, Infosys, Tata Motors, UltraTech Cement, HDFC Bank, NTPC, IndusInd Bank, Larsen & Toubro, HCL Technologies, Power Grid, Maruti, HDFC and Tata Steel were the major laggards. Kotak Mahindra Bank, Asian Paints, Nestle, Titan, State Bank of India and Reliance Industries were the gainers.
Monday's notices seek damages of Rs 2,000 crore (Rs 20 billion) each from The Times of India and The Economic Times, both owned by Bennett, Coleman & Co, and The Financial Express, owned by the Indian Express group, alleging some of their articles defamed Infosys.
S D Shibulal, former chief executive and managing director of Infosys, has joined the ranks of the company's other founders in nurturing start-ups.
We are very clear we are building a company that will outlast the founders, demonstrate its longevity and sustainability, and be there for several generations, says the Infosys CEO.
Amazon has reclaimed the top spot as the world's most valuable brand despite its brand value falling 15 per cent this year from $350.3 billion to $299.3 billion, said a new report. According to brand valuation consultancy Brand Finance's report, "Global 500 2023", while Amazon is back at No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. This is as consumers evaluate it more harshly in the post-pandemic world. Brand Finance's research has found that perception of customer service at Amazon has fallen - at the same time as delivery times have lengthened.
The company's inflexibility on prices and margins and a tradition of rotating leadership roles amongst its founders have made it less nimble than rivals.
Rishi Sunak married Akshata Murty in 2009, and the Prime Minister made a quick rise to power in the years that ensued.
IT behemoth Infosys Technologies Ltd, which came out with its third quarter earnings, is awaiting approval for 219 patent applications in India and the US.
The demand relates to certain tax benefits on income from software development done overseas.
Sources said the spin-off, a joint venture company, was yet to be named.
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
At end of week, Infosys had a market valuation of Rs 2,69,489 cr, or Rs 432.68 cr more than HDFC Bank's Rs 2,69,056 cr
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