Page 24 - Infosys

Wipro on job cuts: Aligning business, talent to changing market environment

After startups and Big Tech, layoff season may have begun at the $245 billion Indian IT industry

Apac biz to triple spends on GenAI to $3.4 bn in 2024: Infosys Research

Asia Pacific businesses are sprucing up investments in generative AI (GenAI) and projected to nearly triple spends on this technology to USD 3.4 billion in 2024 across Australia, New Zealand, China, Japan, India, and Singapore, according to Infosys Research. While the spending trails North America, APAC's adoption, effectiveness, and growth are among the highest globally, it said. "Companies across Asia-Pacific are quickly ramping up investments in generative AI and entering a higher stage of maturity," the IT major's research arm, Infosys Knowledge Institute (IKI), said in the research. While APAC companies currently lag behind their North American counterparts in GenAI spending, the research forecasts a bigger increase than in any other region, that is 140 per cent. "This translates to an estimated USD 3.4 billion to be invested across Australia, New Zealand, China, Japan, India, and Singapore," it said. Infosys' Generative AI Radar APAC report includes insights from interviews

Bofa Securities offloads shares of 6 cos, including Infosys, for Rs 377 cr

Bofa Securities on Wednesday offloaded shares of six companies, including HDFC Bank and Infosys, for Rs 377 crore through open market transactions. Bofa Securities through its affiliate Bofa Securities Europe SA sold the shares of these companies through six separate block deals on the BSE. As per the block deal data available with the BSE, Bofa Securities Europe SA offloaded 7.21 lakh shares of Jio Financial Services, disposed of 7.22 lakh shares of Infosys and sold 7.72 lakh shares of private sector lender HDFC Bank. Bofa Securities Europe SA also disposed of shares in TVS Motor Company, Dabur India, and Page Industries. The shares were sold in the price range of Rs 36,398-238.75 apiece. The combined deal size stood at Rs 377.29 crore. Meanwhile, Hong Kong-based Kadensa Capital through its affiliate Kadensa Master Fund acquired the shares of these six companies. On Wednesday, shares of HDFC Bank gained 1.98 per cent to settle at Rs 1,455.85 apiece on the BSE. The scrip of Info

Lack of domestic capital a hurdle for startups: Infosys co-founder Murthy

Murthy added that entrepreneurs can garner respect via good corporate governance practices, adhering to fairness, transparency and accountability with every stakeholder

Leopardess with two cubs roaming Indore Infosys campus: Forest officials

Forest department personnel searching for a leopardess around IT giant Infosys' campus in Indore widened their rescue operation after getting information on Wednesday about the presence of two cubs of the wild cat in a nearby agriculture field, an official said. The wild cat was first spotted on Tuesday between 11 am and 12 pm in the Super Corridor area, where the Infosys' campus is located, prompting the forest department to launch a rescue operation. Later, a local farmer told the forest department he had spotted two leopard cubs in an agriculture field located adjacent to the premises. Indore Forest Divisional Officer (DFO) MS Solanki told PTI, "We have been searching for the leopard since Tuesday in and around the Infosys campus. We were told by a farmer on Wednesday morning that he spotted two leopard cubs in a wheat field adjacent to the compound." According to the DFO, this indicates a female leopard is roaming in the Infosys premises and has kept her cubs in a wheat field .

Accenture, TCS, Infosys, HCLTech continue to rule the IT brand list

Accenture has maintained its position as the world's most valuable IT services brand, with a brand value of $40.5 billion

Infy, TCS, Wipro, HCLT: Chart suggests up to 14% upside as stocks breakout

The Nifty IT index is likely to trade with a bullish bias as long as the index sustains above 36,950 levels, suggest the daily chart.

We have not seen any change in the sentiment, says HCLTech's Vijayakumar

We were always confident of our business mix and our incredible leadership and all other elements, said C Vijayakumar, CEO & MD, HCLTech

Infosys, TCS rally up to 7% post Q3 results; brokerages remain optimistic

The silver lining of the performances of these companies during the quarter was the total contract value (TCV) signed, which continued to show a healthy momentum.

IT stocks power tired markets to new highs; Sensex, Nifty gain over 1%

BSE IT index soars over 5%; analysts warn caution ahead

Sensex soars 847 pts, ends above 72,550 for first time; Nifty nears 21,900

Closing Bell on Friday, January 12: Infosys jumped 8 per cent on the benchmark indices as new deal wins accounted for 71 per cent of total deals in Q3FY24. TCS, too, surged 4 per cent

Infosys tightens FY24 guidance to 1.5-2%, Q3 net profit down 7.3%

The Bengaluru-based IT major, however, maintained its operating margin guidance at 20-22 per cent for FY24

Q3 results: TCS, Infosys headcount fall continues; over 11,000 exit

The fall in headcount is a serious issue for the sector as well as for engineering graduates, as both these firms are the largest recruiters from campuses

Infosys Q3FY24 results: Net profit drops 7.3%, revenue rises 1.3%

Infosys Q3 results: The IT major revised the FY24 revenue guidance to 1.5 per cent to 2 per cent in constant currency

Q3 preview: Infosys profit seen falling 7% YoY; wage hikes to erode margins

Infosys is likely to report a 7 per cent YoY fall in its net profit for the reporting quarter to Rs 6,108 crore, show brokerage estimates

US client once made Narayana Murthy sleep on box in storeroom, reveals book

When Narayana Murthy once visited the US for client work during the initial days of Infosys, a temperamental American businessman made him sleep on a large box in a windowless storeroom surrounded by cartons though his own home had four bedrooms. Indian-American author Chitra Banerjee Divakaruni has come out with a biography covering the early years of Sudha Murty's and Narayana Murthy's lives that is replete with many such nuggets about the iconic couple. Published by Juggernaut Books, "An Uncommon Love: The Early Life of Sudha and Narayana Murthy" is the story of the Murthys' early years - from their courtship to Infosys' founding years and from their marriage to parenthood. Donn Liles, who headed the New York-based company Data Basics Corporation, was a temperamental client and was especially unpleasant to Murthy at times. "He would often delay payments when he could, and Murthy would then be the target of his ire because he would hold his ground, refusing to budge on timely ...

It's talent tug of war: Why Cognizant is in the crosshairs of top IT firms

Cognizant pulling top executives from rivals has triggered a legal battle at a time when the pie is shrinking

HCL Technologies to outshine IT peers in Q3 results: Elara Securities

Q3 IT preview: Elara Securities said that added that other large firms may witness a revenue dip of 1-1.3 per cent QoQ CC given weak seasonality

TCS get notice from Maharashtra labour dept for employee transfer practices

Group representing Indian IT workers alleges company harassing employees who oppose 'forced transfers'

Infosys accuses Cognizant of unfair employee poaching, sends letter to firm

Infosys sent a written communication to Cognizant after a number of its senior executives left to join the firm