Page 8 - Infosys

TCS looking to increase prices to boost operating margins: CFO Seksaria

The company said it is expecting a "better" fiscal 2025 on a robust deal pipeline including a record $13.2 billion worth of orders in the reporting quarter

Troubles for Indian IT firms linger as clients tighten their budgets

Accenture Plc lowered its revenue outlook last month, citing a pullback in software spending by Wall Street firms, which are among the Indian companies' biggest clients

Infosys, Intel join hands to accelerate enterprise growth with Gen AI

Indian IT services company Infosys and chip giant Intel on Wednesday announced expansion of their strategic collaboration to assist global enterprises in accelerating their AI journeys. The advanced artificial intelligence (AI) solutions offered as a part of this partnership will aim to help businesses become cost-effective and performance-driven while being responsible by design, according to a joint release. Announcing Infosys Topaz and Intel collaboration to accelerate enterprise growth and efficiency with Generative AI, the release said the expanded partnership will help "democratise" AI by bringing open standards in AI hardware and software stack across edge, core, and cloud computing. Infosys Topaz an AI-first set of services, solutions and platforms that helps enterprises accelerate business value using generative AI technologies - will adopt Intel-based solutions, including Intel Xeon processors, Intel Gaudi accelerators, Intel Core Ultra Processors, software, and other ...

Indian talent in IT sector crucial to bringing jobs to India: Anurag Thakur

Hailing the Narendra Modi-led government, Thakur said MODI stands for "Master of Digital Information" and also maker of developed India - Viksit Bharat

Infosys receives Rs 341 crore tax demand for assessment year 2020-21

Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order. The Bengaluru-headquartered company said it is in the process of evaluating the impact of the order on its financial statements for the quarter and year ending March 31, 2024. Infosys also said it is evaluating filing an appeal against this order. "Infosys Ltd on March 31, 2024, received order...from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of Rs 341 crore (including interest). The company is in the process of evaluating the implications of this order on the financial statements for the quarter and year ending March 31, 2024, and also evaluating filing an appeal against this order," Infosys said in a BSE filing. Further, a subsidiary of the company has received refund order from the Income Tax Department for assessment year

Infosys jumps 2% on hopes of Rs 6,329 cr tax refund

Over the weekend, Infosys received multiple orders from IT department with regards to tax demands and potential refund.

Infosys to receive Rs 6,329 crore tax refund from I-T department

Infosys expects a refund of Rs 6,329 crore from the Income Tax Department, the country's second largest IT services company said. It also informed the stock exchanges about tax demand to the tune of Rs 2,763 crore, citing various assessment orders. Infosys Ltd said it has received orders from the Income Tax Department for assessment years 07-08 to 15-16, 17-18, and 18-19 during the quarter. "As per the orders, the company expects a refund of Rs 6,329 crore (including interest). The company is in the process of evaluating the implications of these orders on the financial statements for the quarter and year ending March 31, 2024," Infosys said in a BSE filing. Infosys, which competes with TCS and Wipro and others in the market for IT services contracts, is scheduled to declare its financial results for the fourth quarter of the current fiscal year as well as the full FY24 on April 18. The Bengaluru-headquartered IT company also said it has received an order for assessment year 22-23

Infosys to provide AI tools to German media firm for storytelling, reports

IT company Infosys will provide artificial intelligence (AI) technology to Germany-based Handelsblatt Media Group for storytelling, compiling reports of global economic and financial topics under a strategic deal signed between the companies, the Bengaluru-based firm said on Wednesday. In the first year of this partnership, Infosys will work with Handelsblatt Research Institute (HRI), an independent economic research institute under the umbrella of the Handelsblatt Media Group, where it will leverage its AI-based platform, Infosys Topaz, to support HRI in making reports on global economic and financial topics more accessible and consumable for the public, Infosys said in a statement. "As an AI and Digital Innovation Partner for the Handelsblatt Media Group, Infosys will bring the best of digital technology to power innovative storytelling to inform and delight Handelsblatt's core audience," the statement said. Founded in 1946, the Handelsblatt Media Group, which is based in ...

Two is company

Chitra Banerjee Divakaruni's book portrays ordinary yet remarkable lives of the Murthys before Infosys, offering a captivating narrative of resilience and sacrifice that went into building the company

Tech Mahindra to merge two US-based subsidiaries to optimise costs

IT services and consultation company Tech Mahindra said it plans to merge its two wholly-owned subsidiaries, Born Group and Tech Mahindra (Americas), to synergise business operations, optimise operational cost, and reduce compliance risks. The merger is subject to regulatory approvals in the country of incorporation. According to a regulatory filing, the appointed date of the plan of merger is April 1, 2024. "A Plan of Merger of Born Group, Inc., a wholly-owned step-down subsidiary of the Company with its parent company viz. Tech Mahindra (Americas) Inc., a wholly-owned material subsidiary of the Company, has been approved by the respective companies on Friday, 22nd March 2024," the company said. While BORN specializes in providing Brand strategy, visual design, brand identity exploration, and more for digital products, mobile apps, and physical products in the US, TMA provides computer consulting, programming support services and IT Management & Consulting Services. Tech Mahindra

Mcap of 5 of top-10 firms hit Rs 1.97 trn; TCS, Infosys biggest losers

The combined market valuation of five of the 10 most valued firms eroded by Rs 1,97,958.56 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit amid volatile trends in equities. Last week, the BSE benchmark climbed 188.51 points or 0.25 per cent. The market valuation of TCS tanked Rs 1,10,134.58 crore to Rs 14,15,793.83 crore, the most among the top 10 firms. The valuation of Infosys tumbled Rs 52,291.05 crore to Rs 6,26,280.51 crore. IT stocks fell on Friday after tech giant Accenture lowered its revenue forecast for the sector for the 2023-24 fiscal. Hindustan Unilever's market valuation fell by Rs 16,834.82 crore to Rs 5,30,126.53 crore and that of Life Insurance Corporation of India (LIC) declined by Rs 11,701.24 crore to Rs 5,73,266.17 crore. The market capitalisation (mcap) of HDFC Bank dipped Rs 6,996.87 crore to Rs 10,96,154.91 crore. However, the valuation of Reliance Industries Limited jumped Rs 49,152.89 crore to reach Rs

IT shares sink as Accenture cuts guidance; TCS, Infosys and HCLTech fall

FY25 outlook muted for the sector, say analysts

Gifting Infosys shares: Tax implications for Narayana Murthy and his grandson

Infosys co-founder Narayana Murthy's recent gift of shares worth Rs 240 crore to his four-month-old grandson, Ekagrah Rohan Murty, has sparked curiosity about the tax implication

Infosys founder Narayana Murthy gifts shares worth Rs 240 cr to grandson

4-month-old Ekagrah Rohan Murty, born to Rohan Murty and Aparna Krishnan, may be India's youngest millionaire

Took risk when I gave Narayana Rs 10,000 to start Infosys: Sudha Murty

Recently sworn-in Rajya Sabha MP Sudha Murty on Friday recalled how she gave her husband NR Narayana Murthy Rs 10,000 as seed capital to start IT company Infosys but chose to keep Rs 250 from her savings kitty as she thought she was taking a "risk" because of his previously failed venture. The 73-year old engineer-turned-philanthropist recounted that in 1981 when her husband told her that he wanted to start a software company, she had argued that both already had well-paying jobs. Murthy had assured her that he would not proceed without her approval, she said speaking at India Today conclave. I had Rs 10,250 in my savings. I saved Rs 250 for myself and gave him the rest because he failed in his earlier venture Softronics, so I took a risk, she said. Murthy told her to brace for a bumpy ride for the next three years, she said recounting the early days of the Indian IT services giant. My life drastically changed when he started Infosys, it was a responsibility, a commitment, she sai

RS nomination coming on Women's Day was a double surprise: Sudha Murty

The announcement of her nomination to the Rajya Sabha was a double surprise as it came on Women's Day, philanthropist and author Sudha Murty said on Friday. The former Chairperson of Infosys Foundation, the philanthropy and Corporate Social Responsibility (CSR) arm of Infosys, said that she has never sought the position and had "absolutely no idea" why the government chose to nominate her. "It came on Women's Day and that's a double surprise. I am very happy. I am grateful to our Prime Minister," Murty, who is currently on a visit to Thailand, told PTI over phone. On her role as a member of the Upper House, the wife of Infosys co-founder N R Narayana Murthy said, "I have to see what are the things...what I can do. This is a new area to me. So, I have to first sit and study and then I will be able to do it." She said she was pleasantly surprised by the announcement.

Sudha Murty holds about Rs 5,600 crore worth of stocks in Infosys

Sudha Murty, who was on Friday nominated to the Rajya Sabha by the President, holds a 0.83 per cent stake in IT bellwether Infosys which at current prices is worth close to Rs 5,600 crore. The 73-year-old philanthropist is the wife of Infosys co-founder Narayana Murthy. She is the chairperson of the Murty Trust and has authored several books. According to the latest shareholding filed by Infosys with the BSE, she holds 3.45 crore shares of the company. At the last closing price of Rs 1,616.95 on the BSE, Murty's holding in Infosys is currently worth Rs 5,586.66 crore. Her husband Narayana Murthy owns 1.66 crore equity shares that are worth Rs 2,691 crore. Sudha Murty, who was awarded the Padma Shri in 2006 and Padma Bhushan in January this year, is also the mother-in-law of UK Prime Minister Rishi Sunak. While Padma Shri is the country's fourth-highest civilian award, Padma Bhushan is the second-highest civilian honour. Prime Minister Narendra Modi on Friday morning took to the

Sudha Murty nominated to Rajya Sabha, PM says 'testament to Nari Shakti'

Rajya Sabha updates: Sudha Murty is an Indian educator, author, philanthropist, and former chairperson of the Infosys Foundation

Stocks to watch: Infosys, LIC, NLC India, Mukka Proteins, Zomato

Stocks to track on March 07, 2024: Mukka Proteins is set to make its stock market debut on Thursday at an issue price of Rs 28 per share

GenAI will impact headcount growth in next 3-5 years: Infosys executive

Infosys, which has stated it will be an AI-first company, is bracing itself for this disruption