MUMBAI: In addition to asking industry unit heads to run their business with separate profit and loss statements, Infosys is working on making its horizontal delivery heads operate under a P&L structure as well, as it looks to boost growth.

In the next two quarters, the company is putting in place the strategy so the new P&L structure can begin to operate from the next financial year.

Bengaluru: Don Callahan may be an unfamiliar name to many in India, but for companies in the country’s $150 billion outsourcing business, the head of operations and technology at Citigroup Inc. could be quite the game-changer.

Callahan will decide the winner of the largest outsourcing contract up for grabs in close to a decade. The last time the contract was awarded, in 2008, it was worth $2.5 billion for a 10-year period.

This investment from its innovation fund, will help Stellaris back entrepreneurs building applications for global businesses, SMBs and consumers in verticals such as financial services, retail, healthcare and education.

Stellaris had earlier invested in Taxisforsure, Bigbasket, Simplilearn etc.

MUMBAI/NEW DELHI: From currency note conversion desks to mobile ATMs and temporary cash withdrawal counters, India Inc. is going all out to help its employees tide over the cash crunch after the government made high-denomination notes illegal two weeks ago.

The sudden invalidation of 86% of India’s currency by value, along with curbs on withdrawals from bank accounts and ATMs and on exchange of old notes, made cash scarce and resulted in long queues outside banks every day.

Infosys founder N R Narayana Murthy, in an interview with CNN News18, on Tuesday said that demonetisation was a good step would help boost India’s digital economy. Murthy was of the opinion that this was the best time for all the political parties to come together and ensure a clean economy. He said that all the political parties could join shoulders to ensure a clean electoral funding.

Bengaluru: Infosys Ltd has invested 14.92 millon Danish krone (Rs14.5 crore) from its “innovation fund” in UNSILO, a Danish artificial intelligence start-up focused on advanced text analysis.

The deal comes at a time when companies around the globe, including Infosys clients, are trying to find better ways to make sense of a large amount of unstructured text.

Berlin: Indian software service group Infosys is bracing for pressure on its US business from anti-immigrant policies by US president-elect Donald Trump, who has identified clamping down on immigration as one of his three top priorities.

“Margins might be impacted in the near-term,” chief executive Vishal Sikka said, adding the company had not yet done any simulations on how large the impact may turn out to be.

MUMBAI: Infosys CEO Vishal Sikka said that the company was seeing increasing pricing pressure as its traditional clients are threatened by new digital players.

"The expectation from the customer is that prices have to drop and this gets more severe by the day. We have clients where all our competitors are bidding for the deals and they are saying they need lower prices," Sikka said at a Wells Fargo analyst conference in New York. He added that the reason for the particular pressure was that customers were facing digital challengers who operated at lower cost levels.

Shares of two information technology (IT) majors Infosys (Rs 994) and Wipro (Rs 454) hit their respective 52-week lows on BSE in intra-day trade on Friday.

At 11:22 am, Wipro was down 0.59% at Rs 460 and Infosys down 0.57% at Rs 1,000, as compared to 0.01% fall in the S&P BSE Sensex. Both these stocks have underperform the market post July-September (Q2FY17) results.

MUMBAI: Infosys said it conducted two investigations after the resignation of its chief financial officer Rajiv Bansal that did not reveal any wrong-doing and clarified why some payments of his pay had been suspended, as the IT company tried to put an end to the speculation surrounding the exit.

Infosys has been the subject of many stories following Bansal’s resignation last October, not the least of which said that Infosys’ founders had interfered to stop what they considered his out-size severance payments.

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