Page 24 - Infosys

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.

Infosys to receive Rs 6,329 crore tax refund from I-T department

Infosys expects a refund of Rs 6,329 crore from the Income Tax Department, the country's second largest IT services company said. It also informed the stock exchanges about tax demand to the tune of Rs 2,763 crore, citing various assessment orders. Infosys Ltd said it has received orders from the Income Tax Department for assessment years 07-08 to 15-16, 17-18, and 18-19 during the quarter. "As per the orders, the company expects a refund of Rs 6,329 crore (including interest). The company is in the process of evaluating the implications of these orders on the financial statements for the quarter and year ending March 31, 2024," Infosys said in a BSE filing. Infosys, which competes with TCS and Wipro and others in the market for IT services contracts, is scheduled to declare its financial results for the fourth quarter of the current fiscal year as well as the full FY24 on April 18. The Bengaluru-headquartered IT company also said it has received an order for assessment year 22-23

Infosys to provide AI tools to German media firm for storytelling, reports

IT company Infosys will provide artificial intelligence (AI) technology to Germany-based Handelsblatt Media Group for storytelling, compiling reports of global economic and financial topics under a strategic deal signed between the companies, the Bengaluru-based firm said on Wednesday. In the first year of this partnership, Infosys will work with Handelsblatt Research Institute (HRI), an independent economic research institute under the umbrella of the Handelsblatt Media Group, where it will leverage its AI-based platform, Infosys Topaz, to support HRI in making reports on global economic and financial topics more accessible and consumable for the public, Infosys said in a statement. "As an AI and Digital Innovation Partner for the Handelsblatt Media Group, Infosys will bring the best of digital technology to power innovative storytelling to inform and delight Handelsblatt's core audience," the statement said. Founded in 1946, the Handelsblatt Media Group, which is based in ...

Two is company

Chitra Banerjee Divakaruni's book portrays ordinary yet remarkable lives of the Murthys before Infosys, offering a captivating narrative of resilience and sacrifice that went into building the company

Tech Mahindra to merge two US-based subsidiaries to optimise costs

IT services and consultation company Tech Mahindra said it plans to merge its two wholly-owned subsidiaries, Born Group and Tech Mahindra (Americas), to synergise business operations, optimise operational cost, and reduce compliance risks. The merger is subject to regulatory approvals in the country of incorporation. According to a regulatory filing, the appointed date of the plan of merger is April 1, 2024. "A Plan of Merger of Born Group, Inc., a wholly-owned step-down subsidiary of the Company with its parent company viz. Tech Mahindra (Americas) Inc., a wholly-owned material subsidiary of the Company, has been approved by the respective companies on Friday, 22nd March 2024," the company said. While BORN specializes in providing Brand strategy, visual design, brand identity exploration, and more for digital products, mobile apps, and physical products in the US, TMA provides computer consulting, programming support services and IT Management & Consulting Services. Tech Mahindra