A strident bill concerning US work visas for non-US citizens has been re-introduced before the US Senate. A look at the bill.
Insurance, telecom, infrastructure, FMCG and energy are unlikely to downsize; Elsewhere, only top performers are safe.
N R Narayana Murthy, chairman and chief mentor of India's second-largest IT services firm Infosys Technologies, has christened his to-be-launched venture capital fund the 'Catamaran Venture Fund'.
Infosys has officially announced offering its clients new engagement models including outcome based pricing and transaction based pricing. According to a senior company executive, the clients accepting these models as they ask for 'no immediate pay-out of cash' and 'pay money per transaction basis.' These models can also be helpful for the clients to deal with the demand fluctuations and effectively manage their budgets.
"What has changed in the last two quarters is that the markets have improved and deals are coming back. We see more deal-flows," Infosys' CEO and managing director, S Gopalakrishnan, told reporters on the sidelines of a CII meet in Mumbai on Wednesday.
Nasscom president Som Mittal shares his view on issues such as the rise in value of the rupee against the dollar, hiring trends and the role of IT in e-governance.
The increases are expected to be in the 8 to 12 per cent range, which do not compare too badly with the 13 to 15 per cent increments of pre-slowdown years such as 2007-08.
Human capital is mostly ignored by accountants, believes the management of India's second-largest information technology services provider, Infosys Technologies. Arguing that this should not be the case, the company has used the 'Lev & Schwartz' model and pegged the value of each employee at Rs 97 lakh (Rs 970,000), primarily based on the potential value of their future earnings for the company.
IT companies hire an average of 50 students each from engineering campuses and 20 students from management institutes. Headhunters confirm that many of the IT companies have given them mandates for hiring over the next couple of quarters. "We have seen an uptick in the hiring patterns among the IT firms. We ourselves have received good mandates from firms like Infosys and others.
Hong Kong-based Finance Asia conducts the annual poll to find Asia's top companies in different categories, including Best CEO, it said. In the best managed company category, HDFC Bank came third while in corporate governance category, the bank was ranked second after Infosys Technologies.
Infosys Technologies has been ranked as the tenth best company in terms of leadership.
Though domestic IT majors like Infosys Technologies, Tata Consultancy Services and HCL Technologies painted a gloomy picture of the IT sector in the coming quarters, technology bellwether Cognizant Technology Solutions and Genpact, India's largest Business Process Outsourcing firm, not only posted better results but have also given decent guidance to the markets.
Their fears were not unfounded, since the average salary increases of information technology professionals was down to 1.4 per cent for 2009.
The company, which saw a pricing pressure of 5-6 per cent in the last two quarters, believes that most of the pricing negotiations are completed and about one-third of pricing pressure has been factored in the company's guidance. However, Shibulal does not rule out some tail-wind effect in this quarter as well.
Tata Group ranks 13th, Reliance Industries 15th and Infosys 26th. Tata Group and Reliance Industries have been ranked ahead of American industrial conglomerate General Electric (17), German car manufacturer BMW (20), Japanese auto firm Honda Motor (22) and telecom major AT&T (23), among others. However, while the Tata Group slipped in ranking from the sixth place in 2008, Reliance Industries has improved on its previous year's 19th rank. Infosys was not in the list in 2008.
TCS, Infy, Wipro among those that have bagged a five-year deal.
Infosys Technologies Ltd expects to find acquisition opportunities in the US during the downturn, co-chairman Nandan Nilekani was quoted as saying on Friday. "Acquisitions will definitely be very accessible in this market from a price point of view," Nilekani told the Wall Street Journal in an interview. "If it makes sense, we'll do it."
Software outsourcer Infosys Technologies on Tuesday said its cash and cash equivalents stood at Rs 14,449 crore (Rs 144.49 billion) at the end of December quarter, an increase of 52 per cent over the corresponding period a year-ago.
The company's total income stood at Rs 5,821 crore, showing an over six per cent rise, at the end of the September quarter of the current fiscal.
The world's fastest growing company is Canada-based Research In Motion, the maker of Blackberry phones.
Terminates services of over 600 contract workers in February.
In 2008, about 175 trainees from 27 countries joined the internship programme.
N R Narayana Murthy, co-founder and chief mentor of India's second-largest IT services provider Infosys Technologies, is planning to invest in US-based clean technology venture capital fund Siderian Ventures.
Software giant Infosys Technologies will become the first private sector company in India to get security cover from the Central Industrial Security Force, with over 100 personnel to be formally inducted on Friday at its facility in Bangalore.
The company, which reported a moderate performance in the third quarter of FY09, had earlier indicated that it could resort to such a step. India's largest software exporter Tata Consultancy Services said on Thursday that it planned to review the variable component of employees' salaries every quarter in an attempt to cut costs.
Financial details of the project, awarded by the department of industrial policy and promotion, were not disclosed. The eBiz Project announced on Tuesday is among the 27 central, state and integrated mission mode projects under the National e-Governance Plan of the Department of Information Technology. Under it, Infosys will also do training, workshops, promotion and awareness campaigns.
Infosys Technologies, India's second largest information technology services company, which is an early bird on campuses this year, says it will offer jobs to 13,000 freshers for 2010-11.
India's second-largest information technology services provider, Infosys Technologies, has applied for a mere 405 visas till date for financial year 2009-10 - its lowest application count in recent years.
The gap between operation and inspiration created by the premature exit of Infosys Technologies' key founder, Nandan Mohan Nilekani, is being filled by his colleagues.
Narayana Murthy, chairman and chief mentor of India's second-largest information technology services provider Infosys Technologies, has asserted that he has set up the Catamaran Venture Fund to occupy himself once he retires from Infosys in 2011.
The company, which hired around 27,000 last financial year, will hire more this time on the back of a positive outlook for the overall economy.
Infosys, for long, had been trying to strengthen its consulting practice as clients are now asking for more advisory-related work. Consulting and enterprise solution business together constitutes about 25 per cent Infosys' business today.
As a part of its expansion plan, Infosys, the biggest software exporter from Orissa, had given a commitment to resume construction work on its second campus at the Infocity-II region by April.
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.
Partly an answer to downturn, political pressure; trend should shift again, say analysts.
Infosys Technologies has decided that its staffers must have at least six years of having worked on technology responsibilities before being asked to head a project.
IT bellwether Infosys Technologies on Thursday said its subsidiary Infosys BPO will acquire US-based McCamish Systems for an initial payment of $38 million (about Rs 176.6 crore).
It is really unfortunate that this happened during a downturn. We think that in the short term, customers will ask for higher comfort level, which will enable us to go in for more trust-building, says S (Kris) Gopalakrishnan.
IT major Infosys Technologies has incurred a capital expenditure of Rs 63 crore in its three loss-making subsidiaries in China, Mexico and the US.
The company has invested Rs 193 crore ($45 million) in Infosys Consulting, which includes an investment of Rs 81 crore (Rs 810 million) in FY 08. During fiscal 2005, the company established Infosys Consulting, a wholly-owned subsidiary in Texas, US, to add high-end consulting capabilites to its Global Delivery Model.
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