Among the Sensex firms, Kotak Mahindra Bank, Tata Steel, ITC, ICICI Bank, Bajaj Finserv, Maruti, Mahindra & Mahindra and State Bank of India were the biggest winners. Tata Consultancy Services, Infosys, HCL Technologies, Tech Mahindra, Asian Paints, Wipro and Tata Motors were the biggest laggards.
In a major top-level management restructuring, India's second largest software firm Infosys on Saturday named veteran banker K V Kamath as the new chairman to succeed founder N R Narayana Murthy, who retires in August.
State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
India's second largest software and services exporter Infosys Technologies is keen on acquisitions in Europe and Japan and in the areas of consulting, SAP implementation and BPO. Senior officials of the company said that they would be comfortable with a deal size of $600-700 million (around Rs 2,930-3,420 crore).
Among the Sensex firms, Reliance Industries, Maruti, Sun Pharma, State Bank of India, UltraTech Cement, Infosys, Kotak Mahindra Bank, Hindustan Unilever, ITC and HDFC Bank were the biggest gainers. Shares of Reliance Industries climbed 1.54 per cent, the most among the 30-share BSE constituents. Power Grid, Axis Bank, Mahindra & Mahindra and Tata Motors were among the major laggards.
In a major setback to Infosys Technologies, the company announced that Mohandas Pai, the member of board of the company has decided to resign. Meanwhile, Infosys -- India's second largest software services exports firm -- posted a net profit rise of 17.1% y-o-y to Rs 1,818 crore (Rs 18.18 billion) in its net profit for the fourth quarter ended March 31, 2011 as compared to Rs 1,600 crore (Rs 16 billion) in the corresponding quarter a year ago.
IT firms Infosys and Mphasis on Tuesday said they will create employment for about 2,000 people, while Wipro will invest pound 16 million (about Rs 163 crore) in the UK over the next few years. The announcements were made ahead of the virtual summit between UK Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. Infosys said it plans to hire 1,000 workers in the UK over the next three years as part of efforts to support the country's economic recovery and growth.
The combined market valuation of three of the 10 most valued domestic firms eroded by Rs 73,630.56 crore last week, with Reliance Industries Limited taking the biggest hit. While HUL and ICICI Bank were the other laggards from the top-10 pack, TCS, HDFC Bank, Infosys, LIC, SBI, HDFC and Bharti Airtel were the gainers. However, the combined gain of the seven firms at Rs 49,441.05 crore was less than the total loss suffered by the three companies.
The 2019 list shows a 37 per cent jump in brand value for the Tata group, to $19.55 billion for 2019, the highest in the top 25.
Nandan Nilekani is stepping down to take up a bigger cause -- heading a government project to provide a unique identity to each of India's citizens. S Gopalakrishnan, the CEO and MD of Infosys and a co-founder of the company, tells Bibhu Ranjan Mishra what Nilekani's exit means for the company.
Infosys Tech sulked in early trades on Wednesday on reports that SEC has asked for a full review of the company's offer document, that may see the ADR conversion issue delayed a bit.
UltraTech Cement was the biggest gainer in the Sensex chart, climbing 3.13 per cent, followed by Kotak Mahindra Bank, Tata Motors, Axis Bank, Maruti, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra. In contrast, Infosys, Tech Mahindra, Tata Consultancy Services, Wipro, Bharti Airtel, HCL Technologies, ICICI Bank and Nestle were among the laggards.
Investors seem to be shying away from stocks of companies in the 'digital' space with most counters that comprise the Nifty India Digital index giving negative returns over the past year. The index tracks the performance of a portfolio of stocks that broadly represent the 'digital theme' within basic industries, such as software, e-commerce, IT-enabled services, industrial electronics, and telecom services. The fall in some of these stocks over the past year has been steep; the sharpest decline of around 60 per cent was seen in shares of PB Fintech (parent company of Policybazaar).
Since August 2011, the company has not only lost out to closest peer Cognizant but also increased the gap with larger competitor TCS.
Citing an example of traffic rule violation in the national capital, Infosys founder N R Narayana Murthy on Tuesday said that he feels uncomfortable coming to Delhi because it is the one city where indiscipline is the highest. While speaking at the All India Management Association (AIMA) Foundation Day, Murthy shared that people should treat community property better than personal property as one of the values to avoid issues of dishonesty in public governance. "I really feel very uncomfortable coming to Delhi, this is one city where indiscipline is the highest.
Infosys Technologies, India's second-largest IT company, posted an 18.4 per cent increase in its consolidated net profit for the second quarter ended September 30, 2007, over the same quarter of the last financial year.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
Begin with ITC. Larsen & Toubro, yes. ICICI and HDFC, yes again.
Top gainers from the Sensex pack are Infosys, Cipla, NTPC, ITC and Lupin
Gender diversity is important to the success of companies,he said.
In the Sensex pack, Asian Paints, Larsen & Toubro, Titan, IndusInd Bank, Bharti Airtel, Power Grid, Bajaj Finserv, Infosys, HDFC Bank and HDFC were the major laggards. On the other hand, Axis Bank, Tata Motors, ITC, State Bank of India, Tata Steel and Sun Pharma were among the gainers.
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.
Plans by Infosys Technologies Ltd, India's number two software service exporter, to enter the booming China market have become stuck in bureaucratic red tape, the company's chairman said on Tuesday.\n
Infosys Technologies, India's second-biggest software developer, said it plans to raise the share of its revenues from Europe to counter a slowdown in the US, the world's biggest economy, which fetches it about 60 per cent of its sales.
Eight of the 10 most valued companies suffered a combined erosion of Rs 2,48,372.97 crore in their market valuation last week in line with a weak broader market trend, with Reliance Industries taking the biggest hit. Last week, Sensex lost 2,041.96 points or 3.72 per cent. While Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, State Bank of India, HDFC and Bharti Airtel were the laggards, Hindustan Unilever Limited and Kotak Mahindra Bank emerged as gainers.
Infosys' co-founders, S D Shibulal and S Gopalkrishnan, on Tuesday launched Axilor Ventures, a business incubator and platform for supporting innovation and entrepreneurship.
The Bengaluru-headquartered company, which derives close to 26 per cent of its revenues from Europe, mostly from the UK, believes this approach will help it increase its footprint in non-English speaking European countries.
Benchmark indices continued to rally for the third day running on Friday with the Sensex climbing 619 points in early trade to reclaim the 57,000 level. The 30-share BSE benchmark jumped 619.27 points to 57,477.06. The broader NSE Nifty advanced 189.15 points to 17,118.75.
New Zealand Prime Minister Helen Clarke on Monday said there were immense opportunities to enhance bilateral trade with India.
Among the Sensex firms, Infosys, Tata Motors, HDFC Bank, Asian Paints, Tech Mahindra, HDFC, Tata Consultancy Services, Sun Pharma and ICICI Bank were the biggest winners. On the other hand, PowerGrid, NTPC, Nestle, UltraTech Cement, State Bank of India and ITC were among the laggards.
The gauge for the performance of informational technology (IT) stocks soared nearly 5 per cent-most in nearly three years-as growth worries eased following a robust order book posted by bellwether Tata Consultancy Services (TCS). The Nifty IT index rose 4.5 per cent to close at 30,945. This was the biggest single-day gain since September 14, 2020. Industry titan TCS' shares rose 5 per cent to Rs 3,509.
Equity benchmarks declined on Tuesday after a three-day rally, with the Sensex falling 359.33 points amid selling in index majors HDFC, Reliance Industries and Infosys. Investors were cautious ahead of release of GDP data, while a jump in crude oil prices also weighed on market sentiment, traders said. The 30-share BSE Sensex went lower by 359.33 points or 0.64 per cent to settle at 55,566.41.
Chief Operating Officer UB Pravin Rao said the company will be back to historic performance levels in a couple of years.
Benchmark indices Sensex and Nifty gained around half a per cent to close at nearly five-month high levels on Monday following continuous foreign fund inflows and firm trends in Asian and European markets. Rising for a second straight day, the 30-share BSE Sensex climbed 317.81 points or 0.51 per cent to settle at 62,345.71, the highest closing level since December 14. During the day, it rallied 534.77 points or 0.86 per cent to 62,562.67.
Benchmark stock indices Sensex and Nifty rebounded to close over 1 per cent higher on Thursday, propelled by buying in index majors Reliance Industries, HUL and Infosys along with an overall positive trend in global markets. The 30-share BSE benchmark jumped 701.67 points or 1.23 per cent to end at 57,521.06. During the day, it zoomed 971.46 points or 1.70 per cent to 57,790.85 on the expiry of derivatives contracts. The NSE Nifty rallied 206.65 points or 1.21 per cent to 17,245.05.
A day after a record-breaking run, stock prices continued to soar on Wednesday amid expectations of better-than-expected earnings by IT bellwether Infosys Technologies on Thursday.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
Linking businesses with account aggregator (AA) network -- a financial data sharing platform -- will help small entrepreneurs get easy access to credit and create millions of jobs, Infosys Technologies co-founder and chairman Nandan Nilekani said on Tuesday. He made the remarks during a session at the 'GSV + Emeritus India Summit' event in Gurugram. In the Budget for FY24, the government said that the GST system could join the account aggregator network, which means that every company in the GST system can ask for its data back which includes their tax filings and invoices, Nilekani said.
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