Bangalore: Software industry leader NR Narayana Murthy on Sunday appeared to have joined the debate on policy paralysis at the Centre when he said the government has not been able to provide clarity on definition of software exports for over a year now causing inconvenience to the industry. "I have tremendous faith in Finance Minister Pranab Mukherjee, who is an excellent minister and an excellent person. But it has been...
04:24 AM, May 21, 2012
New York: IT giant Infosys paid its top management personnel a total remuneration of $ 10.7 million (over Rs 50 crore) during the last fiscal, marking an increase of about 50 per cent from the previous year. The remuneration paid to its key management personnel, which includes directors and executive council members, had remained almost unchanged at about $ 7 million for fiscals, 2009-10 and 2010-11, as per an annual...
04:36 PM, May 13, 2012
Mumbai: The Sensex and the Nifty fell for a third straight session to notch its lowest close since January 16, as central bank measures to bolster the rupee had a muted impact and as fears grow about sustained foreign selling. Blue chips such as State Bank of India and Infosys extended recent declines on Thursday, despite appeasing measures from the government and the Reserve Bank of India. The government on...
06:46 PM, May 10, 2012
Bangalore/Mumbai: The conservatism that served Infosys Ltd so well for three decades is now stunting its growth, prompting calls from investors for new blood at the top of India's showpiece outsourcer. Critics say Infosys also must shed its aversion to acquisitions, change its premium pricing strategy and make better headway in higher-end businesses like consulting to compete with global rivals IBM and Accenture. "It's one thing to get to the...
12:48 PM, May 07, 2012
Mumbai: India's third largest software services provider Wipro's consolidated net profit for the fourth quarter rose 7.7 per cent year-on-year to Rs 1,481 crore, in-line with market expectations. However, shares plunged over 7 per cent on opening on Wednesday after the street was disappointed with its weak volume growth in Jan-March and muted guidance for the first quarter. The Bangalore-based company expects revenue from IT services in April-June will be...
11:25 AM, Apr 25, 2012
New Delhi: Technology major IBM and software exporter Infosys have emerged as the most preferred employers for engineering and non-engineering graduates, respectively, says a survey. "IBM and Infosys have emerged as the most preferred employers by both engineering (BE/BTech) as well as non engineering graduate (BSc/BBA, BA, BCA) students," said the survey conducted by job portal Firstnaukri.com, focused on entry level hiring. According to the portal, both the companies are...
05:15 PM, Apr 24, 2012
Mumbai: Tata Consultancy Services Ltd shares surged on Tuesday as much as 9.6 per cent after posting a 23 per cent rise in its fiscal fourth quarter profit and giving a relatively upbeat outlook. TCS's results, which came after the market closed on Monday, were seen as a sign it may be better positioned than rival Infosys. TCS shares were last up 8.9 per cent, versus a 0.05 per cent...
10:21 AM, Apr 24, 2012
Infosys, India's No 2 software services exporter, is under scrutiny from the US Department of Homeland Security for likely errors in employer eligibility documents of its staff working in the United States, the company said in a statement. The Department of Homeland Security (DHS) is reviewing the employer eligibility verifications on Form I-9, said Nasdaq-listed Infosys in an April 18 filing on the US Securities and Exchange Commission (SEC). "In...
09:36 AM, Apr 23, 2012
Bangalore: India's second largest IT bellwether Infosys Ltd and its subsidiaries would hire 35,000 people (gross addition) in fiscal 2012-13, about 10,000 less than last fiscal (2011-12), a top company official said Friday. "We will hire about 35,000 people during the four quarters of this fiscal (2012-13), including 1,200 for our onsite locations across geographies," Infosys chief executive S.D. Shibulal told reporters here. In line with its lower guidance of...
02:58 PM, Apr 14, 2012
Washington: India's IT giant Infosys brought in Indian workers illegally to US and often abused business visa rules requiring foreign workers to be paid US market rate, a former company insider has alleged. Infosys could just have easily found local IT specialists to do what they were bringing foreigners in to do, at a fraction of the cost, Jay Palmer, a consultant for the firm was quoted as saying by...
12:29 PM, Apr 13, 2012
Infosys, the country's second largest software services exporter has come out with its fourth quarter FY12 numbers on Friday. It has disappointed the street by its revenues and EBIT, though profits came in slightly higher than expectations. Even the company missed its guidance for its earnings per share. The company's net profit was of Rs 2,316 crore for the fourth quarter of FY12, a fall of 2.36 per cent QoQ....
10:24 AM, Apr 13, 2012
New Delhi: Infosys, the country's second largest software services exporter has reported mildly better than expected net profit of Rs 2,316 crore for the fourth quarter of FY12, a fall of 2.36 per cent Quarter-on-Quarter (QoQ). CNBC-TV18 poll of analysts expected it at Rs 2,290 crore. The company has disappointed the street by its revenues and EBIT, though profits came in slightly higher than expectations. Even the company missed its...
09:16 AM, Apr 13, 2012
Mumbai: The BSE Sensex that was already hurt by Infosys got battered further in afternoon trade due to Eurozone worries, taking a knock of 250 points on Friday. Even expectations of rising India's trade deficit in FY12 added fuel to the fire. The market tried to stay moderately higher in the first half of trade on Friday led by support from every sector barring technology, but the news of sharp...
08:59 AM, Apr 13, 2012
New Delhi: The IT giant Infosys is set to declare its fourth Quarter results earnings on Friday. While analysts expect muted growth, the earnings season for Indian IT firms comes amid improving macro-economic stability in the US and European markets. Worldwide IT spending is forecast to increase 2.5 per cent in 2012 from a year ago, research firm Gartner Inc. said on Apr 5, lower than its January forecast of...
06:40 AM, Apr 13, 2012
Bangalore: India's leading software exporters are expected to face a challenging year ahead due to growing competition, an uncertain global economy and rising US rhetoric against shipping of jobs to low-cost locations ahead of the November presidential election. That may well take the shine off strong January-March results for companies such as Infosys and Tata Consultancy Services, which benefited from cost-conscious customers bumping up demand. The results are set to...
01:13 PM, Apr 12, 2012
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