Page 22 - Infosys

What makes engineering R&D space a target for mergers and acquisitions?

Infosys' acquisition of Germany-based in-tech is the 15th top deal so far

IT sector to see second consecutive year of muted revenue growth: CRISIL

The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at USD 250 billion and it creates over 50 lakh direct jobs. "The slowdown in technology spend will continue this fiscal, weighing on the revenue growth of IT service providers," said Aditya Jhaver, director at Crisil. The industry is, however, expected to sustain in the key metric of profitability, as the operating profit margins will be stable at 22-23 per cent, the agency said, attributing it to prudent management of employee costs. Crisil said the sectoral revenues achieved a compounded annual growth rate of 12 per cent for the decade through FY24. High interest rates and economic slowdown in client mark

TCS, Infosys, Wipro see salary bills surge even as revenue growth slows

Lateral hiring in high-demand sectors like artificial intelligence (AI), machine learning (ML), cloud, and engineering services are the reason behind the surge

Mcap of 6 of top 10 valued firms at Rs 1.40 trillion; TCS, Infosys lag

The combined market valuation of six of the top 10 valued firms eroded by Rs 1,40,478.38 crore in a holiday-shortened week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the maximum hit. Last week, the BSE benchmark declined 1,156.57 points or 1.55 per cent. Stock markets were closed on Wednesday on account of Ram Navami. While Reliance Industries, HDFC Bank, Bharti Airtel and Life Insurance Corporation of India (LIC) were the gainers from the top-10 pack, TCS, ICICI Bank, State Bank of India, Infosys, ITC and Hindustan Unilever suffered erosion in their valuation. The market valuation of TCS tanked by Rs 62,538.64 crore to Rs 13,84,804.91 crore, the most among the top 10 firms. Infosys faced an erosion of Rs 30,488.12 crore from its valuation which stood at Rs 5,85,936.45 crore. Shares of Infosys on Friday ended nearly 1 per cent lower after the company's revenue growth guidance for FY25 failed to meet market expectations. The market capitalisation (mcap) of

Expat impact: The story of India Inc's brushes with expat CEOs a mixed bag

Will it help to simply focus on the best person for the job?

Infosys dips 3%, hits over four-month low on modest FY25 guidance

The IT services firm expects BFSI to recover, which could be a key catalyst for revenue growth and margin surprise

5-month-old Ekagrah Murty to earn Rs 4.2 cr with Infosys' bumper dividend

Ekagrah Rohan Murty, NR Narayana Murthy's five-month-old grandson who was gifted a whopping 15 lakh shares by the Infosys founder recently, is set to earn Rs 4.20 crore, thanks to the Bengaluru-IT company declaring a bumper final and special dividend totalling Rs 28 per share. Murthy had gifted 15 lakh shares to Ekagrah valued at a staggering Rs 240 crore at that time, making the five-month-old the youngest millionaire shareholder of India's second-largest IT company. On Thursday, the Infosys board recommended a final dividend of Rs 20 per share and additionally a special dividend of Rs 8 per share for the financial year 2024. "With this, the total payout over FY20-FY24 will be 85 per cent of free cash flow, in line with our capital allocation policy announced earlier," Infosys said in its Q4 earnings release. The record date for the purpose of the annual general meeting and payment of final dividend and special dividend is May 31, 2024. The dividend will be paid on July 1, 2024, .

Infosys to acquire German firm in-tech in 450 mn euro all-cash deal

Infosys will acquire a 100% stake in the German engineering R&D services provider, expanding its footprint in Europe

Infosys Q4 results: Net profit jumps 30% to Rs 7,969 cr, revenue up 1.3%

Firm expects revenue growth of 1-3% in FY25

In a first, IT services major Infosys sees a drop in net headcount

Total for FY24 stood at 317,240, down 7.6% from 343,234 in FY23

Infosys Q4 results: Net profit jumps 30% to Rs 7,969 crore, revenue up 1.3%

Shares of Infosys on Thursday closed at Rs 1,420.55 apiece on BSE ahead of its Q4FY24 results

Stock Market Highlights, April 18: Sensex declines for 4th day, drops 455 pts; Nifty below 22k

Stock market highlights on on Thursday, April 18, 2024: In the broader markets, Nifty Midcap ended 0.49 per cent lower at 38,995.70 while Smallcap lost 0.28 per cent, to settle at 16,286.35

Stocks to Watch: Infy, Bajaj Auto, Voda Idea, ICICI Lombard, Tata Comm, Zee

Stocks to watch on Thursday, April 18, 2024: Vi FPO opens today. Bajaj Auto and Infosys scheduled to report Q4 results; analysts expect single-digit growth in revenues from the latter.

Infosys Q4FY24 result preview: Low single-digit topline growth expected

According to brokerages, Infosys is likely to report a revenue increase of 2-4 per cent year-on-year between Rs 38,945 crore to Rs 38,432 crore

TCS looking to increase prices to boost operating margins: CFO Seksaria

The company said it is expecting a "better" fiscal 2025 on a robust deal pipeline including a record $13.2 billion worth of orders in the reporting quarter

Troubles for Indian IT firms linger as clients tighten their budgets

Accenture Plc lowered its revenue outlook last month, citing a pullback in software spending by Wall Street firms, which are among the Indian companies' biggest clients

Infosys, Intel join hands to accelerate enterprise growth with Gen AI

Indian IT services company Infosys and chip giant Intel on Wednesday announced expansion of their strategic collaboration to assist global enterprises in accelerating their AI journeys. The advanced artificial intelligence (AI) solutions offered as a part of this partnership will aim to help businesses become cost-effective and performance-driven while being responsible by design, according to a joint release. Announcing Infosys Topaz and Intel collaboration to accelerate enterprise growth and efficiency with Generative AI, the release said the expanded partnership will help "democratise" AI by bringing open standards in AI hardware and software stack across edge, core, and cloud computing. Infosys Topaz an AI-first set of services, solutions and platforms that helps enterprises accelerate business value using generative AI technologies - will adopt Intel-based solutions, including Intel Xeon processors, Intel Gaudi accelerators, Intel Core Ultra Processors, software, and other ...

Indian talent in IT sector crucial to bringing jobs to India: Anurag Thakur

Hailing the Narendra Modi-led government, Thakur said MODI stands for "Master of Digital Information" and also maker of developed India - Viksit Bharat

Infosys receives Rs 341 crore tax demand for assessment year 2020-21

Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order. The Bengaluru-headquartered company said it is in the process of evaluating the impact of the order on its financial statements for the quarter and year ending March 31, 2024. Infosys also said it is evaluating filing an appeal against this order. "Infosys Ltd on March 31, 2024, received order...from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of Rs 341 crore (including interest). The company is in the process of evaluating the implications of this order on the financial statements for the quarter and year ending March 31, 2024, and also evaluating filing an appeal against this order," Infosys said in a BSE filing. Further, a subsidiary of the company has received refund order from the Income Tax Department for assessment year

Infosys jumps 2% on hopes of Rs 6,329 cr tax refund

Over the weekend, Infosys received multiple orders from IT department with regards to tax demands and potential refund.