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Infosys employee terminated for 'spread the virus' post on Facebook, arrested by Bengaluru Police
Posted on 28th March 2020
Indian IT giant Infosys on Friday said it has terminated the services of an employee for a social media post where he urged people to go out and sneeze and spread the novel coronavirus which has infected over 800 people in the country so far.

The man, identified as Mujeeb Mohammed, has been arrested by Bengaluru Police for the post.

Infosys plunges 12% in two days amid Covid-19 woes, stock hits 52-week low
Posted on 17th March 2020
Shares of Infosys were trading lower for the second straight day, sliding 3 per cent today to hit a 52-week low of Rs 565, on the BSE. The stock of the IT consulting & software firm was trading at its lowest level since April 19, 2018.

In the past two days, the market price of Infosys has slipped 12 per cent, as compared to a 7 per cent decline in the S&P BSE Sensex.

Infosys evacuates Bengaluru building amid COVID-19 scare among employees
Posted on 14th March 2020
The Infosys in Bengaluru has evacuated one of its satellite office buildings following reports of its employee coming in contact with a suspected coronavirus patient.

The development comes after the Karnataka government advised IT and other professionals working in air-conditioned places to work from home for time being, for about a week, to prevent the spread of the virus.

Coronavirus impact: Infosys revenue growth likely to decline in FY21
Posted on 14th March 2020

Infosys is likely to post lower revenue growth of around 7 per cent in organic terms in financial year 2020-21 (FY21), compared to FY20 as the spread of coronavirus (COVID-19) is widely expected to pull down the global economy.

The revenue growth number will be around 200 basis points (bps) lower on constant currency basis than the Bengaluru-headquartered firm is expected to post in FY20, said analysts at ICICI Securities based on their interaction with Infosys Chief Financial Officer Nilanjan Roy.


Make GSTN portal efficient for tax payers: Finance ministry to Infosys
Posted on 7th March 2020

The finance ministry has asked Infosys to deliver on making the goods and services tax network (GSTN) portal efficient for tax payers, sources said.

The ministry told Infosys it was the company’s responsibility to deliver satisfactory performance of the portal and it should meet expectations of the tax payers, the sources said.


Infosys ex-CEO Vishal Sikka gets nominated to Oracle's board of directors
Posted on 10th December 2019

Former Infosys CEO Vishal Sikka, who recently launched his AI startup Vianai Systems, has been nominated to the board of directors of global technology major Oracle.

Sikka, 52, is among the world's leading experts in Artificial Intelligence (AI), Machine Learning and would be helping Oracle in the business value and adapt to change, the company said in a statement.


Nilekani assures action if whistleblower allegations proved; Infosys up 4%
Posted on 6th November 2019
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.


Infosys shares dip 16% amid allegations of 'unethical practices', worst fall in six years
Posted on 31st October 2019
The stock prices of Indian multinational Infosys fell by 16% on Tuesday, following an anonymous letter by whistleblowers accusing Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy of indulging in unethical practices to boost revenue and profits in recent quarters.

Infosys shares dip 16% amid allegations of 'unethical practices', worst fall in six years
Posted on 24th October 2019
The stock prices of Indian multinational Infosys fell by 16% on Tuesday, following an anonymous letter by whistleblowers accusing Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy of indulging in unethical practices to boost revenue and profits in recent quarters.

American firm readies class action suit against Infosys on whistleblower allegations
Posted on 23rd October 2019
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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