Page 10 - Infosys

Q3 results: TCS, Infosys headcount fall continues; over 11,000 exit

The fall in headcount is a serious issue for the sector as well as for engineering graduates, as both these firms are the largest recruiters from campuses

Infosys Q3FY24 results: Net profit drops 7.3%, revenue rises 1.3%

Infosys Q3 results: The IT major revised the FY24 revenue guidance to 1.5 per cent to 2 per cent in constant currency

Q3 preview: Infosys profit seen falling 7% YoY; wage hikes to erode margins

Infosys is likely to report a 7 per cent YoY fall in its net profit for the reporting quarter to Rs 6,108 crore, show brokerage estimates

US client once made Narayana Murthy sleep on box in storeroom, reveals book

When Narayana Murthy once visited the US for client work during the initial days of Infosys, a temperamental American businessman made him sleep on a large box in a windowless storeroom surrounded by cartons though his own home had four bedrooms. Indian-American author Chitra Banerjee Divakaruni has come out with a biography covering the early years of Sudha Murty's and Narayana Murthy's lives that is replete with many such nuggets about the iconic couple. Published by Juggernaut Books, "An Uncommon Love: The Early Life of Sudha and Narayana Murthy" is the story of the Murthys' early years - from their courtship to Infosys' founding years and from their marriage to parenthood. Donn Liles, who headed the New York-based company Data Basics Corporation, was a temperamental client and was especially unpleasant to Murthy at times. "He would often delay payments when he could, and Murthy would then be the target of his ire because he would hold his ground, refusing to budge on timely ...

It's talent tug of war: Why Cognizant is in the crosshairs of top IT firms

Cognizant pulling top executives from rivals has triggered a legal battle at a time when the pie is shrinking

HCL Technologies to outshine IT peers in Q3 results: Elara Securities

Q3 IT preview: Elara Securities said that added that other large firms may witness a revenue dip of 1-1.3 per cent QoQ CC given weak seasonality

TCS get notice from Maharashtra labour dept for employee transfer practices

Group representing Indian IT workers alleges company harassing employees who oppose 'forced transfers'

Infosys accuses Cognizant of unfair employee poaching, sends letter to firm

Infosys sent a written communication to Cognizant after a number of its senior executives left to join the firm

Infosys dips 2% on termination of $1.5 bn multi-year deal with global firm

On September 14, 2023, Infosys had announced the signing of a $1.5 billion deal with a global company (which they had not named).

Sensex gains 230 pts; Suraj Real Estate drops 7%, Adani Green rallies 5.5%

Closing Bell on December 26, 2023: On the downside, the Nifty Media index fell 0.58 per cent, and the Nifty IT shed 0.4 per cent

Infosys loses mega contract as global client terminates $1.5 billion deal

IT services firm Infosys has said that a global company has decided to terminate a multi-year contract worth USD 1.5 billion with it. On September 14, 2023, Infosys announced a pact with a global company to offer enhanced digital experiences alongside modernisation and business operations services leveraging Infosys platforms and AI (Artificial Intelligence) solutions. In a BSE filing on Saturday, Infosys said the global company has now elected to terminate the Memorandum of Understanding (MoU) and the parties will not be pursuing the master agreement." Infosys also said the stock market intimation was in continuation to a disclosure made on September 14, 2023, with respect to an MoU with the global company which was subject to parties entering into a master agreement. On the said date, Infosys informed BSE that it entered into an MoU with the global company to provide enhanced digital experiences, along with modernisation and business operations services, leveraging Infosys platfo

IT major Infosys loses $1.5 billion contract from global customer

The company did not give the reason for the cancellation of the deal

Infosys to integrate, standardise LKQ Europe's business processes

LKQ Europe is a leading distributor of automotive aftermarket parts for cars, commercial vans, and industrial vehicles in Europe

For salary hikes, IT firms now considering tenure along with performance

The IT majors are making changes in their pay increment structure to maintain margins at a time when the sector is going through a tough time globally

Top execs exit at Infosys, Wipro underscores importance of talent creation

To mitigate attrition of senior leaders industry experts say companies must prioritise providing challenging projects that align with aspirations, skill sets of these seasoned professionals

TMS Ep587: Infosys exits, IPL auctions, markets, Mahadev betting app

Why is Infosys losing talent at the top? Will IPL auctions see a generational shift? Will the markets rally continue for the 8th week? What is the Mahadev betting app case? All answers here

M-cap of 9 of top-10 firms jumps Rs 2.26 trn; TCS, Infosys biggest gainers

The combined market valuation of nine of the top-10 most valued firms jumped Rs 2.26 lakh crore last week, with Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers amid an overall bullish trend in equities. Last week, the BSE benchmark jumped 1,658.15 points or 2.37 per cent. The 30-share BSE Sensex zoomed 969.55 points or 1.37 per cent to settle at its record closing high of 71,483.75 on Friday. During the day, it surged 1,091.56 points or 1.54 per cent to 71,605.76, its all-time intra-day high level. The combined market valuation of the nine firms, including Reliance Industries, TCS, ICICI Bank and Infosys, jumped Rs 2,26,391.77 crore, while Bharti Airtel emerged as the only laggard from the top-10 pack. The market valuation of TCS jumped Rs 85,493.74 crore to Rs 14,12,412.13 crore, the most among the top-10 firms. Infosys added Rs 36,793.61 crore, taking its valuation to Rs 6,55,457.54 crore. The market valuation of State Bank of India surged Rs 30,700.

Infosys inaugurates Rs 230 cr development centre at Mihan-SEZ in Nagpur

IT services company Infosys on Saturday said it has inaugurated a new development centre at the Mihan-SEZ in Nagpur, Maharashtra. Infosys has invested over Rs 230 crore in the development of this facility, which is spread across 2,65,000 sq ft. The centre will provide greater flexibility for employees to work in a hybrid mode and enable re-skilling and up-skilling of local talent. "Infosys inaugurates a new development centre in Nagpur. With over Rs 230 crore investment, the 2,65,000 sq ft unique state-of-the-art building is an integration of art and science," according to a release. The new centre will also give employees the opportunity to work on next-gen technologies like cloud, AI, and digital across multiple industries, such as telecommunications, banking, retail, aerospace, automobile, logistics, and manufacturing, among others. It will accommodate over 3,000 employees in line with Infosys' future-ready hybrid workplace strategy, the release said. The development centre was

Infy hands out salary revision letters to employees, hikes effective Nov 1

Traditionally, Infosys rolls out its annual salary hikes for employees below the senior management in April, with other people in the organisation receiving their share of hikes in July

The Infosys saga: A leadership factory or a company facing crisis

The company has seen nine senior level exits in 2023 alone