Infosys gains on collaboration with Stanford Graduate School of Business

Infosys rose 0.65% to Rs 4,207.10 at 09:49 IST on BSE after the company announced collaboration with Stanford Graduate School of Business to create a comprehensive executive education program.

The announcement was made after market hours on Wednesday, 19 November 2014.

Meanwhile, the BSE Sensex was down 24.31 points, or 0.09%, to 28,008.54

On BSE, so far 6,197 shares were traded in the counter, compared with an average volume of 72,222 shares in the past one quarter.

The stock saw initial volatility. The stock hit a high of Rs 4,215 and a low of Rs 4,182 so far during the day. The stock hit a record high of Rs 4,225 on Tuesday, 18 November 2014. The stock hit a 52-week low of Rs 2,894 on 30 May 2014.

The large-cap company has an equity capital of Rs 287.12 crore. Face value per share is Rs 5.

Infosys announced after market hours on Wednesday, 19 November 2014, that it will collaborate with Stanford Graduate School of Business (GSB) to create a comprehensive executive education program. As part of this agreement, Stanford GSB will team with senior Infosys executives to design and deliver a customized strategic leadership development program for the company's executives, clients and partners. The executive education program will include a suite of business management skills, as well as courses in corporate innovation processes to help Infosys balance business discipline and entrepreneurial spirit. The office of Executive Education at Stanford GSB and Infosys will deliver the leadership program through in-person and online instruction, as well as live sessions enabled by distance-learning technology. The initiative will include 200 executives who will each participate in a part-time, year-long program in groups of 40 over three years. Executives will be able to test and apply their learning to real business challenges in parallel, the company said in a statement.

Infosys' outsourcing unit Infosys BPO had on 18 November 2014, announced the separation of Abraham Mathews, its Chief Financial Officer from the services of the company for not complying with its code of conduct. This departure was in keeping with the company's goal of setting the highest standards of corporate governance and adhering to the letter and spirit of the company's code of conduct. Gautam Thakkar, the current Chief Executive Officer has submitted his resignation to the company effective 30 November 2014, taking responsibility on moral grounds and will be assisting Uppadhayay in this transition. Meanwhile, the company appointed Anup Uppadhayay as Chief Executive Officer and Managing Director of the company. The board of Infosys BPO also appointed Deepak Bhalla as Chief Financial Officer of the company.

Infosys' consolidated net profit as per International Financial Reporting Standards (IFRS) rose 7.28% to Rs 3096 crore on 4.48% rise in revenue to Rs 13342 crore in Q2 September 2014 over Q1 June 2014.

Infosys is a global leader in consulting, technology and outsourcing solutions.

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