The "Infosys 3.0" strategy that the software company says will help it come out of difficulties and better position it for the future will take longer than expected time to produce results, CEO S. D. Shibulal said.
The Bangalore-based $7 billion software company has missed its own sales targets, which led to decline in market vale of its shares. Tough market conditions even forced it to defer an annual pay increase.
The company adopted a new strategy dubbed the "Infosys 3.0," which will make the company to shift its focus from labour-intensive plain vanilla outsourcing services to higher-value software.
Residents of Bengaluru are facing new health hazards as the Bruhat Bengaluru Mahanagara Palike (BBMP) is burning garbage as a part of its massive clean-up drive.
The BBMP said on Monday that it had collected 10,000 tonnes of garbage from across the city over the past two days. BBMP Commissioner M. K. Shankarlinge Gowda said the garbage piles that were not disposed of since past 5-6 days would be cleared soon and they hoped to make the Garden City a clean haven once again.
Bangalore, July 24 - Wipro Ltd posted a net profit of Rs. 1,580 crore (Rs. 15.80 billion) for the first quarter (April-June) of this fiscal (2012-13), registering 18 percent year-on-year (YoY) growth as per the Indian accounting system.
In a regulatory filing Tuesday, the IT bellwether said its consolidated revenue for the quarter under review (Q1) rose 24 percent YoY to Rs. 10,653 crore (Rs. 106.53 billion), including Rs. 8,314 crore (Rs. 83.14 billion) from its global IT services.
Bangalore, July 12 - Infosys Technologies Ltd Thursday reported a net profit of Rs. 2,289 crore (Rs. 22.89 billion) for first quarter (April-June) of this fiscal (2012-13), registering a 33 percent year-on-year (YoY) growth.
In a regulatory filing, the IT bellwether said its consolidated revenue for the quarter under review (Q1) increased 29 percent YoY to Rs. 9,616 crore (Rs. 96.16 billion).
Bangalore-based Manjushree Technopack Ltd, pioneers in rigid plastic packaging in the nation, declared their yearly results for fiscal year ending March 31, 2012.
The firm attained a striking Rs 300 crore mark in 2012 and has recorded steady growth crosswise all key performance indicators comprising sales income, PBT and PAT.
Key performance indicators for FY 2011-2012 are as follows (Figures in brackets represent the financial performance in the previous year):
IFC is making plans to make an investment of Rs 50 crore in Bangalore-based Ujjivan Financial Services Limited to get hold of minority equity stake.
The proposed project intends to assist Ujjivan fund its growth and accomplish strategic & operational alteration with the aim to tackle the modified regulatory and biz atmosphere, and meet up its authoritarian capital adequacy needs for the next 3-5 years.
Recently, Ujjivan Financial lifted up $25.5 million by diluting a minority equity stake in its latest round of PE funding.
A flight of the Malaysia Airlines, which took off from Bangalore, reportedly landed back in the city after about four hours due to bad visibility and a technical snag.
The passengers of the MH- 193D from Bangalore to Kuala Lumpur were unaware of what was happening as they complained that the announcements were only made in the Malaysian language. The flight took off from the Bangalore International Airport (BIA) at 12.30 am on Saturday landed back in Bangalore at 4.30 am on Sunday.
According to latest reports, a total of 62 persons have been tested positive for H1N1 in the southern city of Bangalore even as the health experts in the city said that they have taken appropriate measures to fight the infection.
The department of Neurovirology, Nimhans said that there were 71 cases in the state and out of this 62 we rein Bangalore. On the other hand, the health and family welfare service data claims that there have been only 48 cases where the patient has tested positive for the infection.
Toyota Kirloskar to start assembling Camry in Bangalore
Glboal auto major Toyota Kirloskar Motor has said that it will start assembling its popular mid-class luxury sedan Camry at its Bangalore factory from July instead of importing the car from international markets.
Bangalore, March 8 - The first movie in the Byaari langauge, titled "Byaari" has been jointly named the best film at the 59th National Award announced on Wednesday. The award has been shared with Marati film "Devulu".
Byaari is a language spoken in the coastal Karnataka and also in northern part of Kerala primarily in Kasargod district, which has an intensive Kannadiga population whose mother tongue is Konkani, Tulu and Kannada.
Bangalore, Jan 20 - Wipro Ltd reported net profit of Rs. 1,456 crore (Rs. 14.56 billion) for the third quarter (October-December) of this fiscal (2011-12), registering 10 percent year-on-year (YoY) growth as per the Indian accounting standard.
In a regulatory filing Friday, the IT bellwether said its consolidated revenue for the quarter (Q3) under review shot up 28 percent YoY to Rs. 9,997 crore (Rs. 99.97 billion).
World's largest professional network, LinkedIn has set up a new technology centre in southern Indian city of Bangalore.
The new centre will be the first outside its headquarters in Mountain View, California in the United States. LinkedIn has 135 million members from across the world and more than 12 million in India, making it the second biggest user base for the company.
The Bangalore Metropolitan Transport Corporation (BMTC) is planning to rearrange the metro feeder bus service that began on various routes to bring commuters to the newly opened Namma Metro in the city.
BMTC was ready with the feeder service even before the launch of the Metro operations. The civic body has deployed 60 buses on 24 feeder routes for the six metro stations at a frequency of 10 minutes. However, the after-launch results have not been attractive for the BMTC.
The residents of the south Indian city of Bangalore have welcomed the opening of the first stretch of the metro line in the city, described as the silicon valley of India.
The Namma (our) metro stations were full of people, who gathered to take their first ride in the city's brand new metro rails. There were long queues at the ticket counters in several stations and especially on the MG Road station, where the inauguration ceremony has taken place.
Bangalore, Oct 12 - Infosys Ltd posted net profit of Rs. 1,906 crore for the second quarter (July-Sep) of this fiscal (2011-12), registering 10 percent year-on-year (YoY) growth and 11 percent sequentially according to the Indian accounting standards.
In a regulatory filing Wednesday, the IT bellwether said its consolidated revenue for the quarter under review (Q2) grew 17 percent YoY to Rs. 8,099 crore and eight percent sequentially.
Earnings per share (EPS) at Rs. 33.36 is 9.7 percent higher YoY and 11 percent sequentially.
Bangalore, Oct 6 - In a nail-biting finish, Royal Challengers Bangalore (RCB) late Wednesday snatched a thrilling victory by two wickets from a defiant South Australian Redbacks (SAR) to qualify for semi-finals of the ICC Champions League Twenty20 (CLT20) at the Chinnaswamy stadium here.
Requiring six runs of the last ball in the 20th over for a sensational win, RCB's wicket-keeper Arun Karthik lofted a massive six of Redback's Daniel Christian to reach the stiff target of 215 for eight wickets.
Bangalore, Sep 20 : Karnataka Governor HR Bhardwaj today accepted Justice Shivaraj V Patil''s resignation from the post of the state''s Lokayukta.
Justice Patil had resigned from the post on Monday following a controversy over allotment of housing sites for his wife and himself.
Bangalore, Sep 20 : Karnataka Governor H. R. Bhardwaj Tuesday accepted the resignation of Shivaraj V. Patil as Lokayukta. He had quit following allegations that he acquired two housing plots in Bangalore in violation of the rules.
The state's first ombudsman to leave office amid a row, Patil tendered his resignation to Bhardwaj Monday evening after explaining to him that no rules had been violated and no impropriety committed in purchasing the second plot in his wife Annapurna's name, Raj Bhavan sources said.
Bangalore, Aug 25 : Fourteen people, including two women, have been on fast here since Aug 16 in support of Anna Hazare, an activist said Thursday.
According to Anand Yadwad of India Against Corruption (IAC), around 40 people started the fast but over the last 10 days 26 were told to give up their hunger strike on medical advice.
Every day since Aug 16, around 30 people here observe a day's fast.
Freedom Park, formerly Bangalore's central prison, is the main centre of protests, with former Lokayukta N. Santosh Hegde joining them every day.
Bangalore, Aug 5: Scientists at the International Centre for Genetic Engineering and Biotechnology (ICGEB) in New Delhi have shown that tuberculosis may be diagnosed in future using a fast, inexpensive urine test.
Their test reported in the American Chemical Society (ACS) journal Analytical Chemistry can also be used to monitor the effectiveness of treatment for tuberculosis which is on a rampage in the developing world, the ACS said in a statement.
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