Infosys has finally decided to go ahead with its plan to set up operations in Kolkata without the proposed centre getting the SEZ status, a key demand which has made the IT services major delay the project for quite some time.

The Bengaluru-based IT major on Monday announced the commencement of work for building a software development centre with an initial investment of Rs 1 billion without any kind of tax sops from the state government.

BENGALURU: Infosys is eyeing a slice of $5-billion opportunity in offering cybersecurity solutions to its 2,000-plus enterprise customers, that is expected to grow 10-12% CAGR in the the next five years.

Narsimha Rao Mannepalli, head of cloud, infrastructure and security (CIS) at Infosys, said there is renewed governance focus from the board on cybersecurity, and the company is betting on it in a big way, adding talent and restructuring a lot of their internal talent to this business segment.

The domestic equity markets started Tuesday's trade on a strong note with the BSE Sensex going beyond the 36,800 mark for the first time ever, Nifty50 touched 11, 134.95 mark. In just few minutes, Sensex was at 36,816.53 level, with a gain of 97.93 pointswhile Nifty was at 11,115.50, up 30.75 points.

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.

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.

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, 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.

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 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.

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.

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