Page 34 - Infosys

Infosys, Aramco ink pact to create digitally connected employee experiences

Infosys plans to embed digital transformation practices and tools into Aramco's HR platform, enhancing the overall digital experience for employees to engage more productively

HCL bucks the trend; says it intends to hire as others continue to fire

The firing spree was not limited to back-office jobs and affected big tech companies, including Amazon, Meta, Microsoft, and Google parent Alphabet, among others

Attrition in IT firms to go back to pre-pandemic levels by October: Experts

In their Q4 results, two of the three IT majors in India, TCS, and Infosys, showed that high attrition was still a problem

8 of top 10 firms lose Rs 1.17 trn in mcap; Infosys biggest laggard

Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent. The market valuation of Infosys plummeted by Rs 66,854.05 crore to Rs 5,09,215 crore. Infosys Ltd on April 13 reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24 amid tightening of IT budgets by clients following turmoil in the US banking sector. HDFC Bank's valuation tumbled Rs 10,880.5 crore to Rs 9,33,937.35 crore. ICICI Bank lost Rs 10,462.77 crore from its valuation which stood at Rs 6,17,477.46 crore and the market capitalisation (mcap) o

IT stocks drag indices to first weekly decline in nearly a month

Disappointed results for Infosys and TCS this week dampened the mood

Tech M sheds 9% in 5 days on JP Morgan, Citi downgrades, target price cuts

Tech Mahindra's stock fell 2.6 per to its day's low of Rs 994.55 on Friday after JP Morgan downgraded the stock to 'underweight' from 'neutral', slashing its target price by 10 per cent to Rs 900

Big 4 push the tech button, look to expand IT service presence in India

The big four are best known for their accounting and audit services globally. However, with time, they have added several more services to their work

Weak guidance, muted sentiment to weigh on near term IT outlook

There could be more downsides if the rest of IT pack disappoints

After a Covid hiatus, West Bengal feels the infotech buzz again

After a Covid hiatus, the state's IT hubs are seeing the big names in the business setting up or expanding operations

Sensex snaps 9-day rally, sinks 520 pts; Infy cracks 9%; banks limit losses

CLOSING BELL: The BSE IT index plunged 4.7 per cent, while the FMCG and Bankex gained 1 per cent and 0.3 per cent, respectively. Midcap and SmaIlcap indices too outperformed in trades on Monday.

TCS may consider giving 12-15% hikes to top employees to curb attrition

TCS is also planning to raise base salaries in its campus recruitment drives. If implemented, this is likely to make Infosys, HCL Technologies, and Wipro follow suit

Infosys can slip below Rs 1,000 levels; TCS can hit Rs 2,900, charts show

Nifty IT index may fall up to 3 per cent post hitting a new 52-week low, trend turns bearish.

Nifty IT index plunges 8% after TCS, Infosys post subdued Q4FY23 results

At 09:47 am; Nifty IT index, the worst performer, down 6 per cent, as compared to 1 per cent decline in the Nifty50 index

Infosys tanks 12%, hits 52-week low on disappointing March quarter results

The company's performance was subdued owing to unplanned project ramp-downs and delays in decision-making by the clients.

Stocks to Watch: Infosys, HDFC Bank, Zee Ent, Tata Motors, VA Tech Wabag

Stocks to Watch: Infosys delivered a weak performance in Q4 as its profit declined 6.9 per cent on a sequential basis, while revenue dropped 2.3 per cent QoQ

TCS, Infosys results signal subdued Q4 for IT pack, say experts

The results of top-tier companies TCS and Infosys have tripped on global uncertainties and missed street estimates, setting a subdued tone for Q4 show by the IT pack, and experts see choppy 1-2 quarters for the industry but are hopeful of subsequent recovery. The earnings' season started on a sombre note with the Q4 scorecards that fell short of expectations, but more importantly the management commentary of India's top two IT services companies was punctuated with words of caution about prevailing customer sentiments across BFSI, technology services and certain other verticals, particularly in the US. While Infosys top brass spoke of "unplanned project ramp downs and decision making delays by some customers", Tata Consultancy Services (TCS) talked of some clients deferring newer, non-critical initiatives. Industry veteran and former Infosys director T V Mohandas Pai says Q4FY23 will be subdued for IT players but that extent and impact will depend on profile and strategy of individu

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