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Infosys shareholders approve appointment of Salil Parekh as CEO, MD
Posted on 23rd February 2018
Infosys shareholders have approved the appointment of Salil S Parekh as chief executive officer and managing director of the company, the company has said in a regulatory filing.

As per results of postal ballot and e-voting filed by the IT major, 97.96 per cent shareholders through the physical ballot and electronic mode voted in favour of the appointment of Parekh on February 20, 2018.

Infosys, TCS join global tech-reskilling drive for 1 million workers
Posted on 25th January 2018
Indian information technology giants TCS and Infosys have joined a global drive for tech reskilling of one million workers in the first such IT industry initiative. The exercise, whose founding partners also include Accenture, CA Technologies, Cisco, Cognizant, Hewlett Packard Enterprise (HPE), Pegasystems, PwC, Salesforce, and SAP, aims to bring competitive training content on one platform to serve the greater good.

The initiative will be targeting one million people for training and resource opportunities on the World Economic Forum (WEF) SkillSET portal by January 2021.

Infosys,TCS join global tech-reskilling drive for 1 mn workers
Posted on 24th January 2018
DAVOS: Indian IT giants TCSBSE 2.83 % and InfosysBSE 2.33 % have joined a global drive for tech reskilling of one million workers in the first ever such IT industry initiative.

The initiative, whose founding partners also include Accenture, CA Technologies, Cisco, Cognizant, Hewlett Packard Enterprise (HPE), Pegasystems, PwC, Salesforce and SAP, aims to bring competitive training content together on one platform to serve the greater good.

Infosys’s struggles with M&A deals a test for new CEO Salil Parekh
Posted on 18th January 2018
Bengaluru: Infosys Ltd continues to struggle to realize the promised benefits from its three acquisitions.

The firm has shut down Noah Consulting, the company it bought for $70 million in 2015, and transferred all the business to the parent company, valuing the firm at 40% lower than the original purchase price.

Infosys expects IT budgets in BFSI vertical to improve
Posted on 17th January 2018
Infosys has delivered a subdued performance with its revenue growing by 1% q-o-q (0.8% q-o-q in CC terms) to $2,755 million in 3QFY18, which is a seasonally weak quarter. Its EBIT margin expanded by 10 bps q-o-q, owing to improved operational efficiency and higher utilisation. While volume grew by a decent 1.6% q-o-q, blended billing rate declined by 0.7% q-o-q. From vertical perspective, BFSI continued to remain under stress with revenue growing by a meagre 0.1% q-o-q.

Revealed! Why Infosys has doled out highest variable pay in 9 quarters
Posted on 18th January 2018
Infosys has doled out 95% of variable pay to its employees for the third quarter of the current fiscal, which is its highest in the last nine quarters. In the current scenario when salary hikes for IT professionals have come down to single digits, this is good news for employees of Infosys. Infosys chief operating officer UB Pravin Rao said, “Our decent performance in quarter three has enabled us to pay the highest level of variable payout for the last nine quarters to our employees.

IRS boost! Infosys net meets estimates as tax gain props growth
Posted on 13th January 2018
The country’s second largest IT services exporter, Infosys registered a 37.6% sequential rise in net profit for the third quarter of FY18 boosted by a tax reversal of $225 million following a recent agreement with the US Internal Revenue Service (IRS); sans this, the company’s bottom line would have actually dipped. Infosys reported a net profit of $796 million for the third quarter compared with $578 million in the second quarter of the fiscal, even as it recorded a sequential dollar revenue growth of 1% (0.8% in constant currency) to $2.75 billion.

Infosys Q3 results today: Earnings may be tepid but guidance to be in focus
Posted on 12th December 2017
Infosys Technologies, the country’s second-largest software services firm, is scheduled to report its earnings for the September-December quarter on Friday. This quarterly earnings report of the company will be keenly watched for the guidance it gives under its new chief executive officer (CEO) Salil Parekh.

If terms of earnings, if analyst estimates are anything to go by, Infosys’ third-quarter show could be rather tepid.

Infosys rated buy by Motilal Oswal
Posted on 11th January 2018
Infosys has announced an Advanced Pricing Agreement (APA) with the US Internal Revenue Service (IRS), under which both companies have agreed on a methodology to allocate revenues and compute taxable income of the company’s US operations. The agreement covers a 10-year period from FY11-21. Infosys will reverse tax provisions of $225 million that were made in the previous period and are no longer required.

TCS, Infosys, Wipro, Tech Mahindra among 13 IT stocks that hit 52-week high
Posted on 10th January 2018
Tata Consultancy Services (TCS), Infosys, Wipro and Tech Mahindra were among 13 stocks from the information technology (IT) sector that hit their respective 52-week highs on Wednesday in an otherwise subdued market on expectation of improvement in outlook.

KPIT Technologies, NIIT Technologies, Persistent Systems, Tata Elxsi, Vakrangee, Mastek, Infinite Computer Solutions (India), Hinduja Global Solutions and BLS International were other IT stocks from the S&P BSE500 and S&P BSE Smallcap index that touched their respective 52-week highs in intra-day trade today.

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