Faced with a spate of senior-level exits, Infosys co-founder N R Narayana Murthy has written to employees to reassure them that the "leadership changes" will be in the "best interest" of the company.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
Among the businesses that need consolidation are retail and defence
Apart from Infosys, players like Tata Consultancy Services and Mindtree have also pointed towards weakness in the financial services sector and project delays and cancellations that could impact the growth of the USD 110 billion IT services sector in the near term.
New initiatives expected to bear fruit by middle of 2015
The strategy of returning cash to shareholders through stock purchases could hinder their digital expansion plans
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
Amid Trump's expected action against employment visas, India's bellwether IT firms reveal they have been preparing for this eventuality for years.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
The contract has not only cemented the position of its chief executive officer (CEO) Abidali Neemuchwala, it has also proven the ability of the current management to successfully chase and close larger deals that are becoming scarcer in the market.
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
The unprecedented rainfall in Chennai during the first week of December and the resultant flooding had impacted the business operations of companies operating in Chennai
"The Board in its meeting... has considered, approved and recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share (ADS) for every ADS held, as on a record date to be determined," the company said in the regulatory filing.
Also looks at setting up development and training centres in the US to tide over visa-related issues
IT industry body Nasscom said it is quite hopeful the final contour of the bill would be much more balanced than it is at present.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
Monday saw the Sensex post its weakest closing since July 11 when it settled at 36,265.93. In the previous four sessions the index had lost 1,249.04 points.
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
'After some time, they all want to know what is happening in their companies.' 'It is better they remain board members rather than talk outside.'
IT stocks saw massive selling pressure on Monday, falling as much as 6 per cent, after the rupee surged to 58.37 against the US dollar intra-day.
Rising protectionist policies followed under Trump administration has prompted all IT services players to hire more locals in onsite geographies, especially in US.
Cognizant's consulting practice today has 5,500 consultants, perhaps one of the highest numbers when compared to Indian IT players.
IT majr Wipro needs stability at the top deck, say industry watchers.
There was broad-based rally with participation across sectors creating enormous wealth for investors but starting 2018, the rally got concentrated into select large-cap companies with under performance in broader markets.
Sikka's regret over lack of strategic talk with clients hints at larger problem
The move comes at a time when the traditional software maintenance and support works, once the bread and butter for export-driven IT services business, are slowly drying up.
Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
Will Infy spring a surprise in subdued second quarter?
'His working style differs from his father as he is a quick decision-maker.'
Ford said it had also shut its plant, with an annual capacity of 340,000 engines and 200,000 vehicles.
Employees asked to work from home... cancelled travel plans... curtailed meetings... Caution and precaution dominate Corporate India's response to Covid-19.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
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