Page 15 - Infosys

Everyone with offer will join: Infosys CEO on 2022-batch onboarding delays

Infosys CEO Salil Parekh has indicated that offers given to freshers will be honoured by the company and followed with joining, although there has been some change in dates. The comments of Infosys top honcho assumes significance amid reports that the company has delayed onboarding of 2,000 fresh engineering graduates from 2022-batch. "Every offer that we have given, that offer will be someone who will join the company. We changed some dates but beyond that everyone will join Infosys and there is no change in that approach," Parekh told PTI in response to a question on reported delays in onboarding of 2,000 fresh engineering graduates for two years. The Bengaluru-headquartered IT company has an overall employee base of 315,332 as on June 2024. Recently, IT and ITES union Nascent Information Technology Employees Senate (NITES) had filed a complaint with the Ministry of Labour and Employment against Infosys for delaying the onboarding of 2,000 engineering graduates selected for syste

Infosys eyes acquisitions, more 'in-tech' buys possible: CEO Salil Parekh

After two acquisitions this year, India's second-largest IT services company Infosys is on the lookout to scoop-up more firms and says the acquisition matching scale of recent in-tech buy is certainly a possibility. In an interview to PTI, Infosys CEO Salil Parekh said the company is keen on acquisitions in areas like data analytics, SAAS, and may look at some geographies within Europe, and the US. Asked if more acquisitions could be of the scale matching in-tech, which came with a price-tag of 450 million euros, Parekh said, "Absolutely, I think those would be the size that we will look at in terms of scale, and given our structure we could do a few of those." Back in January, Infosys announced a definitive agreement to acquire 100 per cent of the equity share capital in InSemi Technology Services, a semiconductor design services company headquartered in India, for a consideration (including earn-outs, and management incentives and retention bonuses) totalling up to Rs 280 crore.

Cognizant files lawsuit against Infosys over trade secrets; Infy denies

IT major Cognizant's subsidiary TriZetto has slapped a lawsuit on Infosys in a US federal court, accusing the Bengaluru-headquartered company of stealing trade secrets and information related to healthcare insurance software. Infosys, in a statement, denied all allegations. The company asserted it is aware of the lawsuit and will defend its position in the court. Cognizant in a lawsuit filed in Texas federal court has accused Infosys of illegally accessing data from TriZetto's software -- Facets and QNXT -- and using the same to develop and market a competing product. Cognizant offerings include TriZetto's Facets and QNXT, which healthcare insurance firms use to automate tasks. Teaneck, New Jersey-based Cognizant has the bulk of its employees in India. Cognizant has reportedly alleged that Infosys misused TriZetto's software to create "Test Cases for Facets," which repackaged its data into an Infosys product. Further, it has reportedly alleged that Infosys created software to extr

Govt likely to withdraw Infosys $4 billion tax demand after backlash

Authorities last month ordered Infosys to pay the additional amount, arguing that its overseas offices should pay GST dating back to 2017

Govt likely to withdraw Infosys $4 billion tax demand after backlash

Authorities last month ordered Infosys to pay the additional amount, arguing that its overseas offices should pay GST dating back to 2017

Govt open to resolve $3.9 billion tax dispute with Infosys, says report

Authorities are exploring options to settle with companies including Infosys, which last month got hit by a demand for Rs 32,403 crore ($3.9 billion) in back taxes dating back to 2017

NITES files complaint against Infosys over delayed joining of 2k freshers

NITES alleged that despite fulfilling all requirements on their part, these professionals have been kept in limbo for more than two years, causing immense frustration, anxiety, and uncertainty

Infosys could earn over $100 mn from Coca-Cola's cloud deal with Microsoft

IT service providers like Infosys can capture around 15% to 20% of cloud migration deals

Mcap of 7 of top 10 valued firms rises to Rs 1.40 trn; TCS, Infosys lead

The combined market valuation of seven of the top 10 valued firms jumped Rs 1,40,863.66 crore in a holiday-shortened last week with the benchmark Sensex gaining nearly 1 per cent. Tata Consultancy Services and Infosys emerged as the biggest gainers in line with an optimistic trend at Dalal Street. Last week, the BSE benchmark rose by 730.93 points or 0.91 per cent following a strong rally on Friday. The market capitalisation (Mcap) of Tata Consultancy Services (TCS) surged by Rs 67,477.33 crore to Rs 15,97,946.44 crore. The valuation of Infosys jumped Rs 36,746.21 crore to Rs 7,72,023.49 crore. The Mcap of Bharti Airtel rallied Rs 11,727.55 crore to Rs 8,45,123.87 crore and that of ICICI Bank by Rs 10,913.96 crore to Rs 8,36,115.19 crore. The valuation of ITC soared Rs 8,569.73 crore to Rs 6,28,399.10 crore and that of Reliance Industries by Rs 5,311.4 crore to Rs 20,00,076.41 crore. Hindustan Unilever added Rs 117.48 crore to take its valuation to Rs 6,45,926.13 crore. However

IIT-Delhi gets notice for Rs 120-cr GST on research funds, given 30 days

The notice demands Rs 120 crore in GST from the premier institute on research funding acquired between 2017 and 2022, as well as interest and penalties

Technology shares in demand; Nifty IT index rises 2%, TCS nears record high

The Nasdaq rose more than 2% on Thursday after July the US retail sales data signalled resilient consumer spending, allaying fears of an imminent recession in the world's largest economy.

Govt to not give any relaxation in its Rs 32,000 cr GST demand on Infosys

Shares of Infosys, which were up 1.6% before the news amid a broader market rebound, briefly trimmed gains to about 0.3%

Infosys coded tax network in India, it got a Rs 32,400 cr GST notice

Infosys said Wednesday it has paid all that it is legally required to - and even investors don't believe that India's second-largest software exporter needs to provide for the alleged liability

Stocks to Watch on August 5: Infosys, SBI, Titan, Britannia, Ambuja Cement

At 6:41 AM, GIFT Nifty futures were down 369 points, trading at 24,342.50, suggesting a gap-down start.

Mcap of 8 of top-10 most valued firms slump Rs 1.28 trn; TCS, Infosys lag

Eight of the top-10 most valued firms together lost Rs 1,28,913.5 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest laggards, amid weak trend in equities. The valuation of TCS tumbled Rs 37,971.83 crore to Rs 15,49,626.88 crore, the most among the top-10 firms. The market capitalisation (mcap) of Infosys tanked Rs 23,811.88 crore to Rs 7,56,250.47 crore. ITC's mcap dropped by Rs 16,619.51 crore to Rs 6,11,423.11 crore and that of State Bank of India slumped by Rs 13,431.54 crore to Rs 7,56,717.85 crore. The valuation of Reliance Industries Limited declined by Rs 13,125.49 crore to Rs 20,28,695.57 crore. Bharti Airtel's market valuation went lower by Rs 11,821.5 crore to Rs 8,50,389.88 crore and that of ICICI Bank diminished by Rs 7,843.75 crore to Rs 8,42,176.78 crore. The valuation of Hindustan Unilever dipped by Rs 4,288 crore to Rs 6,32,862.41 crore. However, the mcap of HDFC Bank jumped Rs 32,759.37 crore

DGGI gives partial relief to Infosys, closes Rs 3,898 cr FY18 GST tax case

Earlier this week, the IT services company received a Rs 32,403 crore GST notice from authorities

Infosys shares fall in trade on Friday amid GST notice row; check details

On the bourses, Infosys's stock witnessed a decline, falling 1.32% to an intraday low of Rs 1,828.10 per share on the NSE. In comparison, the Nifty IT index dropped 1.64% to a low of 40,038.25 levels.

The tax issue: Karnataka withdraws Infosys notice, Centre may go for review

DGGI to examine if June 26 circular can apply in this case

Karnataka authorities have withdrawn GST tax notice, says Infosys

DGGI sent a notice to Infosys for non-payment of Integrated Goods and Services Tax (IGST) on import services as the recipient of services

Nasscom urges govt to have simple and single interpretation on compliance

Nasscom was reacting to the Rs 32,400 crore goods and services tax (GST) demand from India's second-largest IT services firm, Infosys