Page 33 - Infosys

See very good opportunities in merger and acquisitions: Infosys CEO

The current environment is throwing up "good opportunities in the merger and acquisition space", Infosys CEO Salil Parekh has said, adding the Bengaluru-headquartered IT firm will look at companies that offer strong strategic and cultural fit. While Infosys is on "look out at all times" for good acquisitions, "this is a good environment for finding it", Parekh said. Infosys is seeing "very good opportunities" in the M&A environment, he observed. "...and this is a good environment. We have a very strong balance sheet, a very good way to deploy it. If we find a company or an entity which fits in strategically but also culturally, and we have a way of integrating it, we will look at that," Infosys top honcho said during the Q4 earnings conference recently. He was responding to a question on whether the weak US macro environment and the global uncertainities are offering lucrative opportunities in the merger and acquisition space. Infosys this week reported lower-than-expected growth

RBI's norms on outsourcing IT services will improve corporate governance

Reserve Bank's regulation on outsourcing of IT services by banking sector entities is aimed at improving corporate governance and will protect the interest of consumers, say industry experts. The Reserve Bank of India (RBI) has recently come out with detailed norms for the outsourcing of IT services by banks, NBFCs and other regulated financial sector entities to ensure that such arrangements do not undermine their responsibilities and obligations to customers. These norms came in the backdrop of the current practice of regulated entities (REs) of extensively leveraging IT and IT-enabled services (ITeS) to support their business models and also the products and services being offered to customers. Commenting on the Master Direction issued by the RBI on 'Outsourcing of Information Technology Services', Monish G Chatrath, Managing Partner, MGC Global Risk Advisory LLP, said, "Strong corporate governance practices and comprehensive risk management frameworks are aspects that are ...

Q4 results: Infosys slashes FY24 revenue growth guidance to 4-7%

India's second-largest IT services company misses estimates on revenue growth and net profit

Despite slower attrition rate, headcount down for Infosys in Q4

Infosys reported a net reduction even as rival TCS added 821 employees in Q4

UK PM Rishi Sunak's wife earned Rs 68 cr in dividend income from Infosys

Akshata Murty, the wife of Britain's Prime Minister Rishi Sunak, stands to earn Rs 68.17 crore in dividend income from her shareholding in India's second-largest IT firm Infosys. Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares of Infosys at the end of December, according to company filings with the stock exchanges. Infosys declared a final dividend of Rs 17.50 per share for FY23 (April 2022 to March 2023). If she retains her shareholding till the record date, June 2, she would get Rs 68.17 crore. Together with an interim dividend of Rs 16.50 a share declared in October last year, she would get Rs 132.4 crore. For the previous fiscal, Infosys paid a total of Rs 31 per share dividend, giving her a total of Rs 120.76 crore. Her holding is worth just over Rs 5,400 crore at Thursday's closing price of Rs 1,388.60 per share on the BSE. Infosys is among the best dividend-paying companies in India. Sunak, 42, in October last year became Britain's first prime

Infosys Q4 results: Net profit rises 7.8% to Rs 6,128 cr; revenue up 16%

The company recommended a final dividend of Rs 17.50 per equity share for the financial year ended March 31, 2023

Bull run enters 9th day for benchmarks; IT shares crack; AU SFB soars 17%

CLOSING BELL: IDBI Bank shares, too, surged 10 per cent after a Reuters report said the RBI has begun evaluating at least five potential bidders interested in picking up a majority stake in the lender

Top Headlines: India's smartphone exports, soaring milk prices and more

Business Standard brings you the top headlines at this hour

Stocks to Watch: TCS, Infosys, Karnataka Bank, FRL, Jindal Stainless

Stocks to Watch today: Analysts expect Infosys to report muted quarter-on-quarter (QoQ) revenue growth between 0.1-0.7 per cent in constant currency (cc).

Infosys Q4 Preview: Profit may weaken sequentially; FY24 guidance eyed

The quantum of deal pipeline, nature of large deals, pace of decision-making and drivers of consolidation trend will also be closely tracked

TCS, Reliance, Adani eye Bengal 'Silicon Valley,' state govt moving swiftly

The government hopes that the 250-acre tech hub, located in New Town, Kolkata, will attract an investment of Rs 1 trillion and create 50,000 direct jobs

Stocks to Watch: Dmart, Tata Steel, HeroMoto, Nykaa, Equitas SFB, Godrej CP

Stocks to Watch: Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme for its staff to make the organisation agile

Infosys collaborates with LexisNexis to provide end-to-end IT services

Infosys on Wednesday said it has extended collaboration with data and analytics company LexisNexis to provide information services across their range of content, enterprise and product applications. Infosys will provide LexisNexis end-to-end strategic IT services across multiple business domains that include their global content systems, global business systems and product development, according to a statement. These services will provide application maintenance and support, application development and validation, life cycle upgrades, application modernisation, and content modernisation. As part of the collaboration, Infosys will also offer strategic consultancy for LexisNexis' downstream, discretionary and strategic spending. "Building further on its 15-year-long relationship, Infosys will help ensure continued delivery excellence while enabling LexisNexis to seamlessly meet expected cost optimisation goals and business outcomes," the statement said.

Infosys to open campus in Kolkata to bring office closer to talent pool

Infosys is taking these steps to minimise inter-city travel for its employees and provide them with greater flexibility

Amid constant fear of layoffs, employees at startups looking for a way out

People working at these firms have witnessed their colleagues being shown the door. Many have left on their own or are looking for options

Five of top 10-firms lose Rs 86,447 cr in m-cap; Infosys, TCS, SBI hit hard

Five of the top 10 most valued firms together lost Rs 86,447.12 crore in market valuation last week, with Infosys, Tata Consultancy Services and State Bank of India taking the biggest hit. Last week, the BSE benchmark fell 462.8 points or 0.79 per cent. While Reliance Industries Limited, Tata Consultancy Services (TCS), HDFC Bank, Infosys and State Bank of India suffered erosion from their valuation, ICICI Bank, Hindustan Unilever Limited, ITC, HDFC and Bharti Airtel posted gains. The market capitalisation (mcap) of Infosys tumbled by Rs 25,217.2 crore to Rs 5,72,687.97 crore. The valuation of State Bank of India fell Rs 21,062.08 crore to Rs 4,51,228.38 crore, and that of TCS tanked Rs 21,039.55 crore to Rs 11,42,154.59 crore. The mcap of Reliance Industries declined by Rs 13,226.53 crore to Rs 14,90,775.40 crore, and HDFC Bank dipped Rs 5,901.76 crore to Rs 8,71,416.33 crore. However, ICICI Bank added Rs 10,905.18 crore, taking its valuation to Rs 5,94,888.25 crore. The valuat

Infosys announces Kiran Mazumdar-Shaw's retirement from company's board

D Sundaram appointed lead independent director of IT services company

Infosys nears 52-week low; stock slips 12% in one month on growth concerns

Following recent developments around bankruptcy of Silvergate, SVB and Signature Bank in the US and UBS-CS merger will likely lead to further curtailing of discretionary tech spends in the near term.

US, Europe banking woes likely to hit Indian IT companies' growth

Indian IT players like TCS, Infosys, Wipro, HCL Technologies, Mphasis, and LTIMindtree have exposure to some of the troubled banks

Future Protected: HDFC Bank, RIL, Infosys top holdings of private insurers

Top insurers have parked nearly a fourth of their AUM in the top 10 stocks, reveals an analysis by Nuvama Institutional Equities