Takes a knock after RBS changes plan on Williams & Glyn; contract loss to impact 3,000 Infy staffers
Company expects to be back to industry leading growth in FY17.
While the framework of service delivery and client-focused approach remains unchanged, Nilekani's suggestions, of taking start-ups with newer technologies to clients, are being implemented.
Indian corporate are fast tapping the international bonds market to raise funds for their operational expenses even as they reduce their presence in the rupee bond market. As bonds are costlier for companies and investors are more sceptical than the banks, chief financial officers say they are looking at other avenues for raising funds in the coming months as dollar bond rates are lower in the range of 100 to 250 basis points. "For corporate with reasonable credit quality, the Indian bond market has become less of an option from a cost point of view. "In addition, conditions imposed in the Indian bond market by investors post Franklin episode have also become very onerous," said Prabal Banerjee, president-finance of Bajaj group. "Hence very few corporate are looking at the local bond market for resource mobilisation, since both, bank loans and the overseas bond markets are much more attractive," he said.
The 34th annual general meeting (AGM) of IT major Infosys held Monday was an exceptional one.
M&M conducted raids across six auto spare part makers and sales outlets.
It left the Bhatt girl feeling a little emotional.
India's innately hierarchy-prone corporate culture produces its share of willing sycophants, says Kanika Datta.
Sikka says tools like automation, artificial intelligence or natural language processing are technological innovations which are aimed at amplifying the human potentials further.
'It is not that the H1B visa employees are coming in to displace jobs.'
The time is ripe to accede to the founders' plea to declassify them as promoters.
With the appointment of Vishal Sikka as CEO and Managing Director of the company, IT major Infosys has elevated 12 leaders to the position of Executive Vice President with additional responsibilities.
In FY16, Infosys had 48 employees in India who were paid more than Rs 1 crore in annual compensation, as compared to 111 in FY15.
An appraisal of performance of the board and practice of values and their synergy with the organisational strategy are all crucial for an organisation to evolve into an institution, say Ramachandran Kavil & Sougata Ray.
Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance section.
According to reports, an anonymous group that calls itself "ethical employees" have written to the Infosys Board as well as American regulator US Securities and Exchange Commission with the allegations. They have claimed that they have emails and voice recordings to substantiate the same.
After news of KV Kamath stepping down as the non-executive chairman, Infosys is on the hunt for filling up the post.
Also looks at setting up development and training centres in the US to tide over visa-related issues
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
Companies expect to reach full capacity in August after fixing supply chains that collapsed in the months-long lockdown to contain the coronavirus.
ESOPs allow employees to own equity in the company, which is seen as a morale booster for them.
Nilanjan Roy spent 13 years with Bharti Airtel, prior to which he worked for 15 years with Unilever across their global operations.
Nearly 1,500 akansha petis (boxes of aspirations) have been placed in colleges for students to reveal what they expect from a BJP government. While demonetisation figured high in villages, BJP strategist Siddharth Sikka says city youth were "more concerned" about law and order and sanitation.
The new move is expected to help boost employee morale.
Annualised staff attrition rate at Infosys rose to a record 20.1 per cent in the September quarter.
Rao, in his letter, appealed to employees to stay the course, focusing on execution and expanding the services that the company had built over the past few years.
Former CFO V Balakrishnan seeks exit of Infosys chairman, co-chairman R Seshasayee, co-chairman Ravi Venkatesan, audit committee chairman Roopa Kudva and nomination committee chairman Jeffrey S Lehman.
The company's net profit stood at Rs 2,875 crore (Rs 28.7 billion) in the same period last year.
Increase in kharif sowing area, good monsoon, rural cash flows and base effect among factors that have driven volumes.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
The company expects its 2017-18 revenue to grow between 6.1 per cent and 8.1 per cent in dollar terms and 6.5-8.5 per cent in constant currency terms.
Infosys has a new M&A head to enhance trust on inorganic growth.
The talented pair will be directed by an equally talented director.
'The focus for IT companies will shift from adding scale to building a smaller, more specialised, talent pool with specific domain expertise,' says Shyamal Majumdar.
Infosys is planning to hire the first 500 within two years.
Infosys has been focusing on winning more lucrative digital technology and automation outsourcing contracts.
A good agricultural harvest and a timely arrival of monsoon, besides a slew of government schemes, have also come as a bounty.
Ideally, one should opt for a 5 to to 10- year period in an MF scheme or exit when the goal is reached.
Abidali Neemuchwala, who had joined Wipro in 2015 as group president and chief operating officer, was also given 200,000 in stock options in the financial year ended March 2016.
