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Infosys CEO Salil Parekh handed strict job contract
Posted on 20th July 2018
BENGALURU: Infosys chief executive Salil Parekh cannot join a rival company for six months if he decides to leave the IT services firm.

Infosys has handed him an employment contract with strict and detailed terms, after facing flak over what critics called an overly generous agreement with his predecessor, Vishal Sikka, who had left the company after an ugly public spat with its founders.

Analyst corner: Maintain ‘add’ on Infosys with target price of Rs 1,405
Posted on 17th July 2018
Infosys reported a broadly in-line Q1FY19 on both revenues and margins. Revenue decline in the financial services vertical of 0.2% QoQ in CC terms and high attrition of 23% on a Quarterly Annualized (QA) basis were the key negatives. However, 8% QoQ growth in CC terms in digital revenues, $1.12bn of deal TCV (vs $905mn in Q4FY18) and addition of 4 clients in the >$100 mn revenue bucket were the key positive highlights.

It’s a steep climb for Infosys to keep in step with TCS
Posted on 16th July 2018
BENGALURU | MUMBAI: Tata Consultancy Services’ (TCS) has set an uphill task for its smaller rival Infosys to play catch up in an environment where there is a revival of large outsourcing deals from the banking and financial services industry, the biggest contributor to Indian companies and the US, its main market.

Infosys Q1 net profit rises 3.7% to Rs 36.12 bn, delivers in-line numbers
Posted on 14th July 2018
Infosys, India’s second-largest IT services company, failed to enthuse the street with its numbers, strengthening the belief that the company is yet to return to a stable phase.

The Bengaluru-headquartered company, which a new chief executive officer (CEO) is leading since January this year, mostly delivered an in-line financial performance though it missed the estimates on a couple of parameters.

Infosys Q1 net profit up 3.7% to Rs 36.12 bn; announces 1:1 bonus issue
Posted on 13th July 2018
The country's second-largest software services major Infosys today reported 3.7 per cent growth in consolidated net profit at Rs 36.12 billion for the quarter ended on June 30, 2018, compared to a net profit of Rs 34.83 billion in the year-ago period.

Revenues from operations of the Bengaluru-based firm grew 12 per cent to Rs 191.28 billion in the April-June quarter compared to Rs 170.78 billion in the year-ago period, Infosys said in a BSE filing.

Infosys stock slumps 5% most since August 21, 2017; NSE IT index falls 1%
Posted on 6th July 2018
Infosys shares fell 4.55 per cent on Thursday, the most since August 21, 2017. The stock ended at Rs 1,284 after climbing to a lifetime high of Rs 1,354 on Tuesday.

The stock is still up 24 per cent this year. In comparison, the benchmark Nifty has gained two per cent and the Nifty IT index, a gauge for the performance of technology stocks, has gained 20 per cent in 2018.

Infosys hits new high; stock surges 25% so far in 2018
Posted on 28th June 2018
Shares of Infosys hit a new high of Rs 1,298 per share, up 2% on the BSE in early morning trade in an otherwise flat market. With Rs 2.83-trillion market capitalisation, Infosys is 6% or Rs 164 billion away to touch Rs 3-trillion mark.

Thus far in the calendar year 2018 (CY18), Infosys has outperformed the market by gaining 25% as compared to 3.3% rise in the S&P BSE Sensex.

TCS, Infosys shares hit record high as rupee falls to 19-month low
Posted on 27th June 2018
Mumbai: Shares of information technology companies, including Tata Consultancy Services Ltd and Infosys Ltd, gained on Wednesday as the Indian rupee weakened to a 19-month low against the US dollar. NSE’s Nifty IT Index gained 1.11% at 10.57 am. The Nifty 50Index was down 0.20%.

Whistleblower’s letter highlights Infosys delay in filing Form 20F
Posted on 26th June 2018
An anonymous whistleblower has raised concerns against Infosys for the delay in filing of Form 20F with the US Securities and Exchanges Commission. Form 20F contains the detailed financials statements and other key risks to the company.

The whistleblower has addressed his concerns to both Indian and US regulators. His letter, reviewed by FE, said, “Infosys has not yet filed its Form 20F, which is the annual filing as required under the SEC rules.

Infosys at exciting juncture, bets big on digital: Nilekani at 37th AGM
Posted on 23rd June 2018
Riding on strong financial performance and disruptive technologies, global software major Infosys is betting on digital strategy to spur growth in the exciting times, said its co-founder and Chairman Nandan M Nilekani on Saturday.

"We are at an exciting juncture in the journey of our industry. I have never seen as many possibilities to partner with and grow along with our clients as I see today.

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