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%.
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.
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.
As IT major Infosys completed 25 years of its listing on the stock exchange, a former senior official of the firm paid rich tributes to the co-founder N R Narayana Murthy for creating the “dream” company.
“I don’t think the country is going to see one more Infosys again because Infosys has been a dream company for many generations,” says ex-Chief Financial Officer V Balakrishnan.
Shares of information technology (IT) companies were in focus on Monday with the S&P BSE IT index hitting record high. The raly comes on the back of a surge in prices of sector majors - Tata Consultancy Services (TCS) and Infosys - that hit a new high on the BSE in intra-day trade.
BENGALURU: Early-stage VC financier Axilor Ventures has launched a Rs 200-crore seed fund. Called Axilor Technology Fund, it will invest in fledgling startups looking for pre-seed or seed money in areas that include enterprise, deep tech, artificial intelligence (AI), consumer, fintech and healthcare.
IT major Infosys on Monday said its proposal for voluntary delisting of its American Depositary Shares (ADSs) from Euronext's Paris and London exchanges has been approved by the Board of Directors of the two bourses.
In March this year, Infosys had announced its intention to delist the ADSs on account of the "low average daily trading volume of Infosys ADS on these exchanges, which is not commensurate with the related administrative requirements".
India’s second-largest IT company Infosys on Monday announced the voluntary delisting of Infosys ADSs (American Depository Shares) from Euronext Paris and Euronext London following the lower average trading volume on the respective stock exchanges. “Infosys Ltd (“Infosys”) (NYSE: INFY) (Euronext Paris and Euronext London: INFY)
At a time when most analysts see margin pressure on domestic IT firms due to increased onshore hiring, Infosys on Wednesday said that the company expects hiring of fresh graduates in the US to its workforce to aid its profit margins, at least in the short-term.
As a part of its localization drive, the Bengaluru-based company, during the past 12 months, have added 4,000 engineers in the US, and is looking at hiring 6,000 more by 2021.
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