Blackstone on Monday said funds managed by the private equity firm will acquire a majority stake in IT firm Mphasis Ltd, triggering an open offer for acquisition of up to 26 per cent stake for about Rs 8,262 crore. A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments (Office of the Chief Investment Officer of The Regents, University of California) and others will co-invest along with Blackstone, a statement said. Based on the open offer subscription, the blended purchase price will vary between Rs 1,452 to Rs 1,497 per share (12-16 per cent premium to 12-month average price and 3-6 per cent discount to 6-month average price) and the purchase consideration will vary between Rs 15,200 crore to Rs 21,000 crore (approximately$2-2.8 billion), the statement said.
IT services major Infosys on Wednesday posted a 17.5 per cent rise in net profit to Rs 5,076 crore for the March quarter, and announced up to Rs 9,200 crore buyback offer at a maximum price of Rs 1,750 per share.
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.
India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing. Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added.
Top five vendors captured more than 50% of the total contract value.
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.
The country's largest software services firm, Tata Consultancy Services (TCS) on Monday reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter.
The two IEDs he was found with were 'fully ready' and just needed to be activated with a timer, police said. Security was stepped up in the national capital and in neighbouring Uttar Pradesh following the arrest.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
CIAL is all set to implement a high-end robotic security system with Canadian-built robotic equipment at an estimated Rs 12 crore (Rs 120 million).
The incident caused panic among passengers who were not allowed to exit the terminal for some time.
Consolidated revenues grew 11.4 per cent at Rs 10,341 crore.
IT services firm HCL Technologies on Thursday reported a 14.4 per cent increase in net profit at Rs 1,926 crore (Rs 19.26 billion) for the quarter ended March.
We'll see what happens with Brexit. Either way, there will be technology spends because people have to develop and modify new systems.
'Employee first and customer second' continues to be a very strong philosophy of HCL.
For the September quarter, the company reported 16.92 per cent year-on-year growth in net profit, at $37.3 million.
Consolidated revenues grew by 13.4% at Rs 9,283 crore.
India's fourth largest software services firm HCL Technologies on Thursday reported a 53.7 per cent jump in its consolidated net profit to Rs 1,834 crore (Rs 18.34 billion) for the fourth quarter ended June 30, 2014.
TCS kicked-off the Q1FY17 earnings season for information technology companies on Thursday.
Bharat Biotech started work on developing a vaccine against Zika way back in 2014.
