Page 23 - Infosys

The future is flexible: IT companies juggle in-person with remote work

Some IT employees Business Standard spoke with said that their companies are offering them certain perks to work in a hybrid environment

M-cap of 7 of top 10 firms swells Rs 1.50 trn; TCS, Infosys biggest gainers

The combined market valuation of seven of the top 10 valued firms climbed Rs 1,50,679.28 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers, amid an overall optimistic trend in equities. Last week, the BSE benchmark jumped 890.05 points or 1.37 per cent. Reliance Industries, TCS, HDFC Bank, Infosys, Hindustan Unilever, ITC and Bharti Airtel were the gainers while ICICI Bank, State Bank of India and Bajaj Finance faced erosion from their market valuation. The valuation of TCS jumped Rs 62,148.99 crore to Rs 12,81,637.63 crore, emerging as the biggest gainer from the top 10 pack. The market capitalisation (mcap) of Infosys rallied Rs 28,616.98 crore to Rs 5,96,681.75 crore. The mcap of Reliance Industries climbed Rs 28,111.41 crore to Rs 15,93,893.03 crore and that of HDFC Bank surged Rs 11,136.61 crore to reach Rs 11,42,215.81 crore. The market valuation of Hindustan Unilever soared Rs 10,032.75 crore to Rs 5,94,317.36 crore

Amid muted earnings, Infosys to hand out 80% variable pay for Q2FY24

The IT sector has faced challenges as the Western markets have struggled with the possibility of a recession. Most clients for Indian IT companies are from the USA and Europe

Invest $1 bn a year for 2 decades to train teachers, says Narayana Murthy

India must aspire to move to stage four in every area that affects the lives of our poorest citizens in the remotest part of the country, says Murthy

Infosys Science Foundation names winners of Infosys Prize 2023: All details

The Infosys Prize focuses on the achievements of the recipients and awards them for their contributions to science and research impacting India

IT companies to diversify, draw 30% revenue from non-western mkt by 2030

Japan, Australia, and countries from West Asia will play a major role in this shift as they expand their share in the Indian IT outsourcing space

M-cap of 4 of top-10 firms decline by Rs 23,417 cr; TCS biggest laggard

The combined market valuation of four of the top-10 most valued firms fell by Rs 23,417.15 crore last week, with IT majors Infosys and Tata Consultancy Services (TCS) taking the biggest hit. Last week, the BSE benchmark advanced 540.9 points or 0.84 per cent. While Reliance Industries Ltd, TCS, Hindustan Unilever Ltd and Infosys faced erosion from their market capitalisation (mcap), HDFC Bank, ICICI Bank, ITC, Bharti Airtel, State Bank of India and Bajaj Finance witnessed a combined addition of Rs 17,386.45 crore. The market valuation of Infosys fell by Rs 8,465.09 crore to Rs 5,68,064.77 crore, the most among the top-10 firms. The mcap of TCS declined by Rs 6,604.59 crore to Rs 12,19,488.64 crore. Hindustan Unilever's mcap diminished by Rs 5,133.85 crore to Rs 5,84,284.61 crore and that of Reliance Industries dipped by Rs 3,213.62 crore to Rs 15,65,781.62 crore. However, the valuation of HDFC Bank jumped Rs 5,236.31 crore to Rs 11,31,079.20 crore. ICICI Bank added Rs 3,520.92 c

Infosys, AWS join hands to help financial clients accelerate cloud adoption

As part of the collaboration, Infosys and AWS aim to support financial organisations, like retail banking at NatWest Group, in accelerating their cloud adoption journeys

70-hr work raises compliance issues, violates labour laws: TeamLease VP

A 70-hour work week could raise compliance issues as it violates labour laws, a senior official of staffing company TeamLease said on Friday. "If somebody is spending 70 hours (in office), they are going beyond 9 hours. There is a fundamental disconnect, when you are an employee labour law allows you to work 9 hours," Vice President and Business Head for TeamLease Degree Apprenticeship Dhriti Prasanna Mahanta said. Former Infosys CEO N R Narayana Murthy had recently advocated for a 70-hour work week, drawing reactions from across the spectrum. The cost of employment, if a 70-hour work week is made possible, will also increase, and in a lot of places you are not allowed to pay overtime, he said. He pointed that this works for entrepreneurs and self-motivated individuals but cannot be accepted due to labour law compliance norms in place. Speaking to PTI on hiring trends, Mahanta said around 65 per cent of the demand is coming from non-tech sectors for job roles in AI, machine learni

Infosys US unit hit by cyber security event; probe on to identify impact

The company said it is working with a cyber security company to resolve the issue

Infosys opens new proximity centre in Bulgaria, to hire 500 in 4 years

Infosys believes Bulgaria's strategic location and reputation as an attractive market for IT development will help the company tap into its local talent pool

Infosys asks some staff back in office 10 days a month, bucks global trend

Since the pandemic, they had been allowed to work remotely full-time, and the company's other employees are still permitted to do so

No corporate has sought furniture to help employees in work: Godrej Interio

Leading office furniture brand Godrej Interio has "never" been approached by any corporate client asking for solutions to help an employee put in elongated work hours, a top official said on Tuesday. Corporate clients are more focused on making employees more productive, ensuring that they work as a team and also aspects like sustainability, its parent firm Godrej & Boyce chief executive Anil Verma said. "The short answer is... I never got a customer saying 'I want my people to work so many hours'," Verma told PTI, replying to a specific question if the company has seen corporates seeking such help. Infosys co-founder N R Narayana Murthy recently triggered a flutter by suggesting a 70-hour work week to help in faster growth of the economy. As companies get employees back to work ending the pandemic period practice of work from home, there is a sharp decline of over 70 per cent in the revenues from individuals, Godrej Interio's business head Swapneel Nagarkar said. However, the ...

BFSI, oil & gas sectors key drivers of India Inc earnings as IT slips

A slowdown in the IT services sector is expected to impact the growth of overall corporate earnings in the coming quarters

Tech talent embracing jobs in non-tech sectors amid IT hiring slowdown

While automobile, banking, and other sectors can absorb IT talent, they are unlikely to generate the same hiring volume as the tech sector

Infosys, Smart Europe ink 5-year pact to redefine e-mobility experience

Infosys said it will leverage its technical expertise and design thinking-led consulting approach to enable Smart Europe GmbH to derive "exceptional value" from software, data, and cloud investments

AI backlash may anger thousands of employees in UK, says Infosys Partner

The remarks ahead of Prime Minister Rishi Sunak's AI Summit next week underscore the stakes for policymakers facing a rapid shift in the nature of work

US businesses plan to invest 67% more in GenAI in 2024: Infosys Research

Companies are speedily ramping up investments in generative AI and realising rapid returns, according to research from Infosys Knowledge Institute (IKI), which forecast that companies will hike GenAI investments by 67 per cent in 2024. This translates to a conservative estimate of USD 6 billion to be invested by the US and Canadian companies in the next year, the findings of the research by IKI said. Infosys Knowledge Institute (IKI) is the research arm of Indian IT services company Infosys. "North American businesses plan to invest 67 per cent more in Generative AI in 2024 to drive efficiency, experience and growth," said the release citing Infosys Research. Enterprise leaders are taking a pragmatic view of GenAI, which may mitigate the reality check the broader GenAI market will likely face in the coming year, it added. The report found that Generative AI (GenAI) is not constrained by traditional innovation barriers, and that companies expect GenAI to deliver operational ...

TCS to revise rates for staffing cos to enhance transparency, better talent

The changes in rate cards are for contract staffing employees and not for permanent employees. TCS is revamping its hiring mechanism

RIL, HUL, ITC: Top 50 APAC firms lose over $185 billion in m-cap in Q3

Reliance Industries (8 per cent), Hindustan Unilever (7.9 per cent) and ITC (1.3 per cent) were the Indian companies that saw a drop in m-cap during the recently concluded quarter