India's leading IT services provider, Infosys has said that it will soon get listed on NYSE Euronext London and Paris markets on Wednesday.
Infosys will become the first company from India to get listed on the NYSE Euronext. The company said in a statement that its Chief Executive Officer and Managing Director S D Shibulal will be in London to mark listing of the company on the bourse. Infosys will trade under the ticker symbol INFY on NYSE Euronext.
One of India' leading software services provider, Infosys Ltd has recorded a stronger than expected net profits for the third quarter of the current financial year.
The Bangalore-based company said that its profit during the third quarter till December 31 was at 23.69 billion rupees compared to 23.7 billion rupees recorded in the same quarter of the previous year. A Thomson Reuters I/B/E/S survey had predicted a net profit of 21 billion rupees. During the quarter, its revenue rose 12 percent to 104.24 billion rupees from 93 billion a year earlier.
Indian IT services major, Infosys has won a law suit in the US state of Alabama after a federal judge threw away the case against the company fled y former employee Jay Palmer.
Palmer had alleged that the company was illegally using foreign workers on client projects. He also alleged in his lawsuit that he was harassed at work, sidelined and was even threatened because he did not agree to be part of a scheme that involved using people on B-1 visas for tasks that require an H-1B work visa.
RBS Private Banking Chief Investment Officer Rajesh Cheruvu has expressed bullish view about Indian stocks. In an interview, he has given a positive outlook for NSE Nifty to touch 5700 by December this year.
NSE Nifty closed at four month high after gaining further ground in today’s trading session. The markets gained further ground in afternoon session as European markets opened positive.
Stock Market expert Anil Manghnani expressed during an interview with business news channel CNBC-TV18 that technology major Infosys can see a decline to Rs 2300 level.
He further expressed that Infosys might get weak at Rs 2500-2600 level and may witness selling pressure. After results of other technology majors, they are looking better in terms of valuations as compared to Infosys Technologies.
Mr. Anil Manghnani added that at current price of Rs 2437, Infosys is trading with P/E of 16.5.
Most technology counters have seen a decent gain in year 2012. With the recent rise in US dollar compared to Indian currency, the earnings reported by most technology companies will see positive impact.
The outlook for next two quarters is stable and with recent jobless data from US, the economic scenario has seen improvement over the past two weeks.
HCL Infosystems, the largest Indian IT company focused on the domestic market, has emerged as the best employer among IT companies in a survey by leading IT industry journal Dataquest, in association with CyberMedia Research (CMR). Mumbai-based Rolta has taken the second spot followed by iGATE-Patni.
The annual IT Best Employer Survey 2011 conducted among a selected sample of 3,337 professionals across India reveals SAP Labs, a new entrant, has taken the fourth spot while a Bangalore-based niche player Tavant has emerged as the fifth best employer. Mahindra Satyam's sixth position signals it has moved past the crisis. Tulip Telecom, CapgeminiIndia, Virtusa India, and Nagarro Software take up the remaining positions in the Top 10.
Attrition is Back
Mysore (Karnataka), July 12 : Infosys Ltd posted net profit of Rs. 1,722 crore (Rs. 17.22 billion) for the first quarter (April-June) of this fiscal (2011-12), registering 16 percent year-on-year (YoY) growth.
In a regulatory filing Tuesday, the IT bellwether said its income for the quarter under review (Q1) grew 21 percent YoY to Rs. 7,485 crore (Rs. 74.85 billion).
Under the International Regulatory System in dollar terms, net profit, however, grew 18 percent YoY to $384 million and income 23 percent YoY to $1.7 billion.(IANS)
There has been a great tragedy in Japan which is caused by the massive earthquake following tsunami. Number of Indian companies has large businesses all over the Japan. After this havoc, some of the Indian companies have issued statements on the status of their employees and offices in Japan.
It has been stated by the Technology giant Infosys that after the huge earthquake of 8.9 magnitude and resultant Tsunami in Japan they are pleased to inform that all their employees in Japan are safe.
Infosys has a facility in in Tokyo and has several employees in the cities of Fukuoka and Nagoya. Their local teams in these cities are supplying the necessary needs of the employees at this time.
India's second largest IT Company Infosys Technologies is doing good with its back office business also. Company now expects a revenue growth of 18 to 20 percent in this business in financial year beginning from April.
Infosys BPO chief executive and managing director, D Swami Nathan revealed in an interview that he is expecting an operating margins growth of 20 to 22 percent in FY 2011-12. He also shared his plans of increasing employee strength.
He informed about the company's plan of hiring 8000 more employees in coming fiscal year. He also expects attrition in order to stabilize this growth. Swami Nathan was talking in sidelines of a conference.
Infosys, the Indian IT major which faced two major allegations last week, came with good news today. Company said in a release that it will be helping Seattle City Light. Seattle City light is the 10th largest public electric utility in United States of America.
Indian IT giant, Infosys Technologies implemented the "utilities network management system" at Seattle City Light. India's second largest IT Company said in a statement that this "utilities network management system" has been developed by Oracle Corp.
The Income Tax Department has accused India's third largest software giant Infosys of profiting from an unlawful tax exemption. I-T Department now wants Infosys to pay Rs 450 crore for its software development projects. Income Tax Department revealed that Infosys has benefited with a falsified filing of return.
Infosys Technologies, dealing in software services is all set to go up for massive re-organisation after a gap of three years. It will help the company to provide its services faster to the clients. The reconstruction is done to keep the company alive and to deal with the changing market conditions.
Company has decided to declare the reconstruction exercise after announcing its annual results in April. Recently Wipro had broken its joint CEO structure by appointing its new CEO, and Ashok Soota , the founder Chairman of MindTree also make his move from the company.
Near term demand visibility is strong - The budgets are generally expected to be flattish but the outsourcing/offshoring should rise. BFSI and retail are looking strong with the telecom sector still sluggish and expected to remain so in the near term. The emerging geographies of Germany and France are opening to outsourcing and demand is better than ever for these countries.
India shall now have to employ regional people at the front end of its process to alleviate the uneasiness and contracting out jitters, as per the Infosys mentor N R Narayana Murthy.
He further added when inquired regarding a probable resolution over IT outsourcing issues handled by Indian groups that they have to make certain that they are not very noticeable in such markets. He said that they need to employ local genius. Employ Englishmen in England; appoint Americans in US and the Brazilian in Brazil.
Bangalore, Oct 25: Six achievers in the field of mathematical sciences, physical sciences, engineering and computer science, life sciences and social sciences Monday won the Infosys Prize of Rs. 5 million each for their outstanding contribution to the field.
India’s second-biggest software exporter, Infosys Technologies Ltd., expressed that the central bank should interfere to curtail the instability of the rupee, Asia’s finest performing money in the precedent month, to help exporters.
According to the Chief Financial Officer V. Balakrishnan, today in Bangalore, where the company is located that they have viewed the rupee budging up from 52 to 39 and backward and forward. It shall slay the complete export industry.
The RBI has no option however to interfere at certain point in time, like every other nation.
Bangalore, Oct 15 : Infosys Technologies has stepped up hiring on robust growth in the second quarter (July-Sept) of this fiscal (2010-11) to make up for the rising attrition to meet the increasing demand of the resilient industry.
Though the IT bellwether added 14,264 new employees during the quarter under review (Q2), the exit of 6,618 of its techies resulted in net addition of 7,746, taking the total workforce to 122,468 till September 30.
One of India's largest software company, Infosys Technologies has shown its concern over the decision of the US state of Ohio to ban outsourcing.
This, said the company, will have serious impact on the Indian companies.
Talking to media, Infosys CEO & Managing Director Kris Gopalakrishnan said that the company will be negatively impacted because of this.
As the Infosys Technologies chairman and chief mentor N R Narayana Murthy is set to retire from his post in August next year, he is very much confident that the board that is appointed to find a suitable successor for his position will complete its job well in time.
However, the Chairman of the company said that the a nominations committee led by Cornell University professor and Infosys board member Jeffrey Sean Lehman will announce the decision at an appropriate time.
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