Page 43 - Infosys

Sensex gyrates 1,027 pts, ends 257 pts up; Nifty holds 17,550; M&M gains 4%

CLOSING BELL: RIL, ICICI Bank, M&M, SBI, Bajaj twins, and Titan were the stocks that supported the indices

Stocks to watch: Infosys, RBL Bank, HDFC Bank, Zomato, Sobha, L&T

Stocks to watch today: RBL Bank approved fund raise of up to Rs 3,000 crore to fund the lender's business growth; HDFC Bank plans to raise funds worth Rs 2,500 crore through issuance of Tier-1 bonds.

Top Headlines: IT's ability to fund trade deficit dips, Infy cuts variables

Infosys has decided to reduce the average variable payout of employees to 70 per cent due to falling operating margins in the first quarter (Q1) of 2022-23

Infosys cuts average variable payout to 70% for Q1 on margin pressure

Infosys reported its operating margin in Q1FY23 at 20.1% down from 21-23%. The overall expenses had surged more than 29 per cent due to higher retention costs and cross-currency headwinds.

Infosys reduces avg variable pay to 70% for Q1 amid margin squeeze: Report

India's second largest IT services company Infosys has scaled back the average variable payout of employees to about 70 per cent for the June quarter amid margin squeeze and high employee costs, according to sources. Recently, Wipro held back the variable pay of employees mainly due to pressure on margins, inefficiency in its talent supply chain and investment in technology. Larger rival Tata Consultancy Sevices has reportedly delayed quarterly variable compensation payout for some employees by a month. According to the sources, Infosys has reduced variable payout for the June quarter or Q1 FY23 to about 70 per cent and the employees have been informed about the same. An e-mail sent to Infosys on the issue did not elicit a response. Last month, Infosys reported a lower-than-estimated 3.2 per cent rise in June quarter net profit amid escalating costs. However, the company raised its full-year revenue growth outlook to 14-16 per cent citing strong demand and robust deal pipeline. Th

Nandan Nilekani and Sanjeev Aggarwal's VC firm Fundamentum raises $227 mn

Post the fund's initial investment, Fundamentum's portfolio companies have collectively raised over $1 billion in follow-on rounds

Income tax e-filing, GSTN portals working 'pretty well': Infosys CEO

The income tax e-filing and GST Network portals are working "pretty well" and the systems are running effectively, Infosys CEO Salil Parekh said

Founders built incredible organisation; Infosys in stable position: Parekh

Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability.

Infosys CEO Salil Parekh sees moderation in attrition over coming quarters

Infosys expects moderation in attrition levels over the coming quarters, as its efforts around employee engagement, training and salary hikes are starting to yield results, said CEO Salil Parekh.

IT spends in good shape; see continued strength in US, EU markets: Infy CEO

Infosys CEO Salil Parekh says he's comfortable with recently-raised full-year revenue growth outlook of 14%-16%

Eight of top-10 firms add Rs 98,235 cr in m-cap; Infosys, TCS lead gainers

Eight of the 10 most valued firms together added Rs 98,234.82 crore in market valuation last week, with IT majors Infosys and TCS emerging as the biggest gainers amid a positive momentum in equities

Charts show Nifty IT index has bottomed out: 4 stocks can rally up to 24%

MindTree, Mphasis and Larsen & Toubro Infotech may rally up to 24 per cent, while Infosys needs to overcome its near-term hurdle for fresh gains.

Cognizant Q2 profit up 12.7% at $577 mn, lowers revenue guidance

Revenue was at $4.9 billion, up 9.5 per cent in constant currency on a year-on-year (YoY) basis

Infosys Q1FY23 results: Here's how brokerages have interpreted the numbers

Going ahead, brokerages believe that the margin headwinds like travel costs, wage inflation will continue to persist in Q2FY23 as well.

Attrition continues to hit margins at top-tier IT companies in Q1FY23

Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation

Sensex falls 306 pts; Nifty holds 16,600; Zomato cracks 11%, RIL 3%

CLOSING BELL: Among sectors, the Nifty Auto fell 1.7 per cent, while the Nifty Metal added 1.5 per cent

Sooner or later, US recession will come knocking at India's tech-hub door

India's tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.'s cheery forecast of 14 per cent to 16 per cent annual revenue growth

How to trade RIL, ICICI Bank, Infosys, UltraTech Cement post Q1 results?

ICICI Bank can rally to a new high if the stock manages to sustain above its 200-DMA; Infosys and UltraTech Cement too look promising, while Rs 2,350-level remains the key for Reliance Industries.

Stocks to watch: Infosys, RIL, ICICI Bank, YES Bank, Glenmark, Tata Motors

Stocks to watch today: Axis Bank, Tata Steel will report their June quarter 2022 results (Q1FY23) on Monday, July 25; Infosys delivered net profit for Q1 below street expectations at Rs 5,360 crore.

Infosys disappoints on profit, ups FY23 revenue growth guidance to 14-16%

Its net profit for Q1FY23 was below expectations at Rs 5,360 crore, up 3.2 per cent year-on-year (YoY) but was down 5.7 per cent sequentially