'We will have to wait for at least two quarters of data to ascertain whether the recovery is real and sustainable.'
It needs to revamp the growth strategy.
"We are looking for acquisitions," Infosys chief executive officer and managing director Kris Gopalakrishnan told reporters in Mumbai on the sidelines of the Nasscom India Leadership Forum on Thursday.
Around 27 Indian IT firms, including majors like Tata Consultancy Services (TCS), Infosys Technologies and Wipro Ltd, are understood to have submitted their expressions of interest (EoIs) to develop a technology platform for the Centre's Crime and Criminal Tracking Networks and Systems (CCTNS) project.
'Offshore services are expected to grow in 2010.'
Walmart has selected three IT vendors in India -- Infosys Technologies, Cognizant Technology Solutions and UST Global -- for multi-year contracts worth over $600 million (around Rs 2,750 crore).
Promila Awasthi, an India-born American citizen, alleged her former bosses mocked her for observing American holidays like Thanksgiving and Christmas
Infosys Technologies on Friday said it would bid for multi-crore rupee projects under the Unique Identification Database Authority, which would be headed by the company's former co-chairman Nandan Nilekani, as it sees no conflict of interest.
Infosys Consulting Inc, the strategic consulting arm of IT services giant Infosys Technologies, is planning to acquire a small consulting company with revenues in the $100-140 million range (Rs 450-650 crore) as part of its inorganic growth initiatives in the US.Market sources said Infosys had been looking at a suitable acquisition target in the US with consulting expertise in verticals like aerospace, retail, healthcare and financial services.
The award will be presented to Nilekani by Yale University president Richard C Levin at the Yale CEO Leadership Summit of The Chief Executive Leadership Institute.
Infosys Technologies Ltd has been recognised amongst the top 16 Asian companies to be listed in the prestigious Most Admired Knowledge Enterprises (MAKE) study, 2009.
In a major boost to West Bengal's industrialisation drive, IT major Infosys Technologies on Tuesday signed an MoU with WBHIDCO for a 50-acre plot to open a campus in Kolkata to provide job opportunities to nearly 15,000 people.
Scores of leading SEZ promoters, including Infosys Technologies, CMC Ltd, Hindalco Industries, NIIT Technologies, HCL Technologies, Orient Craft Infrastructure, L&T Phoenix Infoparks and K Raheja Corp, have sought more time from the Board of Approval, which is meeting in New Delhi on June 2.
S Gopalakrishnan's passion for gizmos goes beyond BlackBerrys and iPods. The Infosys head says, he likes to "play around with new technology".
nfoscians will be taxed for their free shares, both at allocation and selling stages.
N R Narayana Murthy, co-founder and chief mentor of IT major Infosys Technology, said corporate bodies in developing countries like India have a responsibility to involve themselves in philanthropic acts to help underprivileged people.
Govt should examine how SEZs can overcome their main problems over land acquisition.
Indian IT majors may have tightened their belts in various areas to contain costs as a fallout of the global economic slowdown. But most of them see continuing value when it comes to employee training, even though it skims crores (tens of millions) of rupees off their top-lines.
Infosys Technologies and Wipro have made it to the list every year since 2005.
After Mexico, the company sets up delivery centre in Brazil
Striking a cautious note, Infosys Technologies' Chairman, N R Narayana Murthy, has said early signs of the global economy emerging from recession cannot be taken for granted.
The plans of India's second-largest IT services provider, Infosys Technologies, to establish a second major campus in Bengaluru has cleared a major hurdle, with the Karnataka government giving its approval to convert the space -- where the software firm had acquired land for the purpose -- into an industrial area.
The poster boys for the information technology sector are already hiring in thousands -- both freshers from campuses, as well as experienced people (called 'laterals').
Its revenues went up by 11.6 per cent to Rs 5,418 crore (RS 54.18 billion) from Rs 4,854 crore (Rs 48.54 billion), (QoQ).
IT bellwether Infosys Technologies on Tuesday said it has increased its headcount by 4,429 employees in the last 3-month period.
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.
Come August 2011, N R Narayana Murthy -- the chairman and chief mentor of India's second-largest IT services firm Infosys Technologies -- will sport the designation of chairman emeritus. It is a position which Infoscions and the senior management team have decided to confer on the person who co-founded the company with six others almost 29 years ago.
"There is significant opportunity over the next few years. Only 25 per cent of the full leverage of IT is understood and used. The impact of IT will be significant in the next 25-30 years," said Infosys Technologies Chief Executive Officer and Managing Director S Gopalakrishnan. He added that there is still money to be made and wealth to be created in this sector.
N R Narayana Murthy, chairman and chief mentor of Infosys Technologies, is considered to have set new benchmarks in corporate governance through the firm he founded. Last fortnight, he was chosen to head Nasscom's sub-committee on corporate governance.
Infosys Technologies Ltd plans a sponsored secondary ADR program. The company board okayed sponsorship of an ADR issue of 2 to 3 million shares, equivalent to 4 to 6 million ADRs.
The 15 IT companies that have declared results so far together clocked 8.4 per cent growth in revenue, the slowest since 2001, largely due to a poor show from Wipro, Tech Mahindra and Polaris Software. But Infosys Technologies and TCS excel, with double-digit growth in year-on-year revenue from software exports.
Amidst the slowdown and the freeze on recruitment, there is some good news for students graduating next year: Infosys is planning to begin campus recruitment across the country from January 2010.
Against the backdrop of a clampdown on visas by the US and growing antagonism towards foreign workers and immigrants in that country, Infosys Technologies, India's second-largest IT services firm, is mulling an 'extreme offshoring' model to help reduce its dependence on H1 and L1 visas.
Infosys BPO Ltd, the business process outsourcing operation of Infosys Technologies, is looking at raising its headcount in the Americas through inorganic growth. The company is understood to be scouting for a strategic acquisition in the $40-60 million range either in Canada or the US, according to industry sources.
Anticipating weakening demand from the US market, coupled with pricing and margin pressures in the fourth quarter of the current financial year, Infosys Technologies will look at slashing variable pay-out to its employees.
The Indian arm of global FMCG major Unilever, Hindustan Unilever, was ranked at the fourth spot, Aditya Birla Group was at the sixth spot, Infosys Tech was ranked eighth and another IT major Wipro cornered the 10th slot.
"We have to improve the institutional framework of companies... (and) need to give more powers and authority to independent directors. Also, the regulations should be enforced much faster," said Infy board member T V Mohandas Pai. Noting that the Satyam case is an aberration and unlikely to affect the domestic IT industry, Pai said the law needs to be amended to ensure that auditing standards are enforceable.
The move to set up the UID Authority of India, under the aegis of the Planning Commission, is aimed at providing a unique identity to the targeted population of the flagship schemes to ensure that the benefits reach them, information and broadcasting minister Ambika Soni told reporters here after the Cabinet meeting.
Infosys Technologies is looking for acquistion of companies within $50 and $100-million revenue range in the segment of banking and financial services, besides health and life sciences, Infosys COO Kris Gopalakrishnan said.
The $4.6-billion company, which had earlier made an unsuccessful bid to acquire SAP consulting firm Axon that was latter acquired by HCL, would prefer acquiring companies overseas where growing organically is a little challenge, the Bangalore-headquartered company's CEO and MD S (Kris) Gopalakrishna said.
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