Infosys expands global footprint, opens delivery center in Croatia

Infosys expands global footprint, opens delivery center in Croatia

New Delhi [India], Apr 25 : Aiming to strengthen its engineering footprint in Eastern Europe, IT major Infosys Ltd. on Monday announced the opening of its first office and delivery center (DC) in Karlovac, Croatia.

In line with the company's strategy to establish global competency centers, offer the best talent in the market and make it available to customers globally, this DC also marks its expansion into Eastern Europe's heavy engineering sector. The new facility will meet near-shoring requirements, support engineering clients worldwide as well as offer R&D services.

Infosys denies allegations made by whistleblower's letter

Infosys denies allegations made by whistleblower's letter

New Delhi [India], Feb. 21 : IT solutions provider Infosys retaliated against allegations made in the anonymous whistleblower's letter that was published in newspapers on Monday, stating that the assertions made are libellous and are aimed at tarnishing the image of Infosys and its management.

"We categorically state that no member of the Infosys management team was involved in any prior investments in Panaya, and insinuations that anyone from the management team at Infosys benefitted from this acquisition are misleading and slanderous", the statement read.

Infosys to buy automation tech firm Panaya for $200 mn

Infosys to buy automation tech firm Panaya for $200 mn

New Delhi: Betting big on new technologies to boost growth, country's second-largest software services firm Infosys will acquire US-based automation technology company Panaya for USD 200 million (over Rs 1,200 crore).

The all-cash deal is the second-largest acquisition for the Bangalore-based firm, after Swiss consulting company Lodestone, which it bought for about USD 350 million (Rs 1,932 crore) in 2012.

The move comes as part of Infosys' 'Renew and New' strategy to enhance competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence, Infosys said in a statement.

Narayana Murthy donates 200,000 pounds for UK Gandhi statue

Narayana MurthyLondon: Infosys co-founder Narayana Murthy and his family have donated 200,000 pounds towards the statue of Mahatma Gandhi planned for Parliament Square here, helping in meeting the budget target of 750,000 pounds for the project.

"Mahatma Gandhi was someone who demonstrated the tremendous power of leadership by example. His courage and commitment are an inspiration and I am delighted that his statue will stand in such a respected setting," said Murthy.

The donation by Murthy along with wife Sudha and children Akshata and Rohan Murthy has helped the Gandhi Statue Memorial Trust meet its 750,000 pounds budget target for the project.

Top 8 Sensex companies add Rs 62,074.5 cr in m-cap; Infosys, CIL shine

New Delhi - The combined market valuation of top eight Sensex companies surged by Rs 62,074.5 crore in the week gone by, with Infosys, Coal India and HDFC Bank emerging as the star performers.

Except TCS and ITC, rest of the eight companies, including ONGC, RIL, SBI, ICICI Bank and HUL saw a rise in their market capitalisation (m-cap).

The market valuation of Infosys zoomed by Rs 11,473.24 crore to Rs 2,54,277.52 crore.

CIL's value soared by Rs 10,106.18 crore to Rs 2,48,801.59 crore and HDFC Bank added Rs 10,008.07 crore to Rs 2,52,111.44 crore.

Automation to cause temporary replacement of jobs: Sikka

infosysDavos : As companies are moving towards automation, Infosys CEO Vishal Sikka Wednesday said there would be temporary replacement of jobs and lower IT costs.

Sikka, who was speaking as a panelist in a session on 'Inclusive Growth in the Digital Age' at the World Economic Forum here, said that the companies should move towards automation as it would be better in terms of cost.

The session focussed on issues related to automation leading to job cuts, inequality in incomes and role of education in the digital age.

"Technology makes people more productive...Their abilities are amplified with technology," Sikka, the first non-founder CEO of the over USD 8 billion IT services exporter, said.

Infosys CEO Sikka meets PM, to spend USD 250m on software innovations in India

Vishal SikkaNew Delhi, Jan.15 - Infosys CEO Vishal Sikka met Prime Minister Narendra Modi on Wednesday and reportedly informed him that his company is ready to offer and spend 250 million dollars (over Rs 1,500 crore) on funding software and services innovations in India.

He also reportedly said that Infosys is keen to participate in the creation of a smart and digitally empowered India.

He was quoted by media, as saying that his discussions with the Prime Minister focused on smart cities and infrastructure.

Sikka further said Infosys would be involved in delivering a software solution for next year's Kumbh Mela.

Infosys to develop Mysore campus as 'Smart City'

Infosys Mysore CampusNew Delhi, Jan 14 : Indian multinational corporation Infosys on Wednesday announced that it would invest and develop its Mysore campus as a Smart City, adding that it would also provide its expertise in smart infrastructure planning and sustainable building technology to the Ministry of Urban Development.

"Our model ecosystem at Mysore will serve as a live, replicable example of smart city innovations that will harness all the advantages of digitization. These technologies promise to revolutionize the physical spaces we inhabit," Infosys CEO Dr Vishal Sikka said, after meeting with Prime Minister Narendra Modi.

Infosys Q2 net up 28.6% to Rs 3,096 crore; revenues up 2.9%

InfosysBangalore: Beating market expectations, IT major Infosys on Friday posted 28.6 percent jump in consolidated net profit to Rs 3,096 crore for the quarter ended September 30.

The Bangalore-based firm had reported a net profit of Rs 2,407 crore in the year-ago period, it said in a BSE filing.

Consolidated revenue was up 2.9 percent to Rs 13,342 crore in the said quarter from Rs 12,965 crore in the year-ago period.

In the April-June quarter this fiscal, Infosys reported a net profit of Rs 2,886 crore and a revenue of Rs 12,770 crore.

Narayana Murthy, Gopalakrishnan bid farewell to Infosys

Narayana Murthy, GopalakrishnanBangalore: Thirty-three years after starting Infosys, its founders NR Narayana Murthy and S Gopalakrishnan Wednesday bade farewell to the over USD 8 billion IT firm with the former saying he has no regrets and the latter emphasising that politics is not his cup of tea.

Seven co-founders, led by Murthy, set up the Bangalore- based firm in 1981. Murthy had the longest run of about 21 years as CEO before passing the baton to Nandan Nilekani and then Gopalakrishnan and S D Shibulal.

Infosys shares fall 5% on downgrade reports

Mumbai - Shares of IT services major Infosys fell five percent in early trade Wednesday amid reports of stock downgrade.

The company's stock plunged 4.88 percent to Rs 3,643.25 on the BSE.

At the NSE, it was down 4.96 percent to Rs 3,641.

The stock was the biggest loser among the 30-bluechips on the Sensex.

As per media reports, global financial services major Citigroup has downgraded Infosys to 'neutral' from 'buy'.

Infosys will declare its July-September quarter earnings on Friday.

Meanwhile, in the broader market, the benchmark BSE Sensex was trading lower by 31.66 points at 26,240.31 during afternoon trade. (PTI)

Three of top 10 firms add Rs 38,768 cr to m-cap

SensexNew Delhi : Three of the top-10 Sensex firms added Rs 38,768.45 crore to market capitalisation last week, with IT major TCS emerging as the biggest gainer.

While TCS, Infosys and Sun Pharma saw gains in their market valuation, ONGC, RIL, ITC, CIL, HDFC Bank, SBI and ICICI Bank saw erosion in their m-cap. The cumulative loss of these seven firms stood at Rs
26,925.45 crore.

The m-cap of TCS surged Rs 18,186.79 crore to reach Rs 5,43,684.13 crore, while that of Sun Pharma zoomed Rs 11,049.34 crore to touch Rs 1,78,208.15 crore.

The valuation of Infosys climbed Rs 9,532.32 crore, to Rs 2,20,920.14 crore.

Top 5 Sensex firms lose Rs 36,971.61 cr from market cap

Top 5 Sensex firms lose Rs 36,971.61 cr from market capNew Delhi - The market valuation of top five Sensex companies fell by Rs 36,971.61 crore last week, with ONGC and Sun Pharma being the worst hit.

While ONGC, RIL, CIL, Infosys and Sun Pharma saw losses in their market capitalisation (m-cap), TCS, ITC, HDFC Bank, SBI and ICICI Bank witnessed gains.

The m-cap of ONGC plunged Rs 11,421.58 crore to Rs 3,67,158.86 crore, while Sun Pharma lost Rs 10,749.03 crore to Rs 1,66,910.28 crore from its valuation.

Infosys to focus on start ups, IP, Products & Platforms: Sikka

Vishal-SikkaBangalore: Vishal Sikka, the first non- founder and outsider to lead Infosys, on Friday said the country's second largest software services firm will focus on intellectual property, products and platforms in an effort to revive the lost glory of the once IT bellwether.

The former Board member of German software giant SAP, who took over as Infosys CEO today from S D Shibulal, will also work with start ups to drive scale and business for the Bangalore-headquartered firm.

In a letter to Infosys employees, Sikka said the task before the company now was to lay out the way forward.

Infosys gets first non-founder CEO; Sikka era begins today

Vishal SikkaNew Delhi: More than three decades since its inception, India's second largest software firm Infosys will on Friday get its first non-founder chief executive officer in Vishal Sikka.

He replaces S D Shibulal, last among the co-founders to hold the CEO post. Shibulal served his last day in office yesterday.

An outsider, Sikka will be the first non-founder to take over as CEO since 1981, when the company was founded by seven friends.

Over the last 33 years, Infosys co-founders N R Narayana Murthy, Nandan Nilekani, S Gopalakrishnan and S D Shibulal have steered the company's operations.

Infosys shares up over 4% post earnings

Infosys shares up over 4% post earningsMumbai - Shares of IT major Infosys on Friday gained over 4 percent in morning trade after the company reported a healthy 21.6 percent increase in consolidated net profit for the quarter ended June 30.

After a positive opening, shares of the company further surged 4.14 percent to Rs 3,429.35 on the BSE.

At the NSE, the stock climbed 4.23 percent to Rs 3,432.

However, profit-booking pulled down the stock, but Infosys was still trading in green, up 0.96 percent at Rs 3327 at 1200 hrs.

New Infosys CEO to get annual salary of $5.08 million

Infosys-CEO-Vishal-SikkaNew Delhi: Infosys Ltd will pay its new chief executive officer Vishal Sikka up to USD 5.08 million in annual salary besides a stock option of USD 2 million, a package considered lower than global peers. Sikka, 47, will replace SD Shibulal and take charge on August 1.

India's second-largest software services exporter sent out a circular calling for an extraordinary general meeting (EGM) of company shareholders on July 30 at Bangalore to approve appointment of Sikka as the new Chief Executive Officer (CEO).

Market value of top seven Sensex firms decline by Rs 67,233 cr

Market value of top seven Sensex firms decline by Rs 67,233 crNew Delhi: Dragged down by state-run ONGC, seven of the top 10 most valued Indian companies together lost Rs 67,233 crore in terms of market capitalisation last week.

Barring TCS, HDFC Bank and Infosys in the top 10 club, the rest seven, including the likes of RIL, ITC and Coal India, witnessed declines in their market valuation for the week ended Friday (June 13).

Energy major ONGC's M-cap plunged Rs 35,548.06 crore to Rs 3,61,426.68 crore, taking the steepest hit in the domestic market capitalisation (m-cap) chart.

Infosys diluted focus on meritocracy, accountability: Narayana Murthy

N-R-Narayana-MurthyBangalore: As he signed off his second innings at Infosys, industry icon N R Narayana Murthy on Saturday said the nation's second largest IT services firm Infosys had "diluted focus on meritocracy and accountability" in the past decade, forcing him to take "hard and tough decisions."

I have fulfilled mandates given by Infosys Board: Murthy

N R Narayana MurthyBangalore: Set to wrap up his second innings, Infosys co-founder N R Narayana Murthy on Thursday said he has fulfilled mandates given to him by the company's board and now plans to spend time with his grandchildren and read books.

"When the Board of Directors at Infosys requested me to come back last year they gave me two mandates, one - to assist them in finding an excellent successor to (CEO S D) Shibulal. The second mandate they gave me was to create a strong foundation for future growth of the company. I believe by and large I have fulfilled both of these obligations," he said.

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