Nilekani assures action if whistleblower allegations proved; Infosys up 4%
Posted on 6th November 2019 |
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Infosys Ltd advanced 3.7 per cent to Rs 721.50 apiece in the intra-day trade on the BSE on Wednesday after the non-executive chairman Nandan Nilekani, during the company's concall, told investors that the company would take action if the allegations against it are substantiated. "While I will not comment on the merits of the allegation at this time, the company will take action if the allegations are substantiated," Nilekani told investors. |
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American firm readies class action suit against Infosys on whistleblower allegations
Posted on 23rd October 2019 |
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Even as Infosys battles whistleblower allegations of using aggressive accounting methods to boost its revenues and margin, a US-based law firm, Rosen Law Firm, which specialises in securities class actions, said it was preparing such a suit to recover losses suffered by the investors. “Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Infosys investors,” it said in a statement. |
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Infosys tumbles 16% as whistleblowers accuse of unethical practices
Posted on 22nd October 2019 |
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Shares of Infosys tanked as much as 16 per cent to Rs 645 apiece on the BSE on Tuesday after the revelation that a group describing itself as ‘whistle-blower staffers’ had accused the management of hiding the true financial picture. The latest charge is from an anonymous group, calling itself ‘Ethical Employees’. Their letter, dated September 20, was addressed to the board of directors and to the US markets regulator, the Securities and Exchange Commission (SEC). |
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Infosys techies accuse CEO, CFO of unethical practices
Posted on 21st October 2019 |
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Bengaluru: A few anonymous employees of global software vendor Infosys have accused its Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy of unethical practices for many quarters. "Parekh and Roy have been resorting to unethical practices for many quarters, as evident from their e-mails and voice recordings of their conversations," said the complainants, |
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Infosys shares slide despite in-line Q2 earnings
Posted on 14th October 2019 |
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The second quarter performance of Infosys were in line with estimates but shares declined 2.4% in early trade. Infosys, which reported Q2 earnings after market hours on Friday, also raised the low end of its revenue forecast for the year on upbeat demand for its digital services. |
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Infosys meets Street expectations; raises revenue guidance
Posted on 12th October 2019 |
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Infosys, the country’s second largest software services exporter, reported double-digit revenue growth for the fourth consecutive quarter on Friday, with revenues growing by 9.9% year-on-year in dollar terms and 11.4% in constant currency in the September quarter. Infy’s performance is in stark contrast to its larger peer Tata Consultancy Services (TCS), which reported weak numbers for the second consecutive quarter. |
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Infosys Q2 preview: IT major may further increase FY20 revenue guidance
Posted on 11th October 2019 |
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Infosys may further upgrade its revenue guidance for the financial year 2019-20 (FY20) when it releases its September quarter (July-September) results on Friday. The Bengaluru-headquartered IT company, as per analysts, remains on a firm footing given the recent deal momentum, strong positioning in clients and favourable arithmetic (revised guidance implies a 1-2 per cent compounded quarterly growth rate through Q2-Q4FY20) – hence creating the room for more upgrades. |
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