Infosys has appointed Krishnamurthy Shankar as the new HR head. Shankar, who has over 30 years of experience, currenty heads the HRD role for Philips (south Asia). He has also worked with Bharti Airtel and Unilever.

In an internal mail to the employees, Infosys COO Pravin Rao said, “Krishnamurthy Shankar (Krish, as he is called) is a passionate leader who has headed the human resources function at some of the most distinguished organisations we know today.”

Infosys chief executive Vishal Sikka bought 10 per cent of the blue chip shares granted to him as restricted stock option units, the global software major said on Wednesday.

In a regulatory filing to the Bombay Stock Exchange (BSE), the company said the 10 per cent or 2,279 shares Sikka bought were equivalent to 9,116 shares post-two bonus issues, granted to all investors last fiscal (2014-15).

Bengaluru: Infosys Ltd will appoint Krish Shankar, head of human resources at Philips India Ltd, as its global human resource (HR) head, a post lying vacant since April this year.

Shankar’s appointment reflects chief executive officer (CEO) Vishal Sikka’s desire to help transform the workforce at the country’s second largest software exporter, especially since Shankar has not worked in an information technology (IT) firm in his three-decade career.

Infosys, India’s second largest information technology (IT) services company, on Thursday launched three new services which, it said, would work as a catalyst in positioning it as a next-generation services company. The three initiatives together would be known as ‘Aikido’, name of a popular Japanese martial art.

‘Ki’, the first of the three services, stands for knowledge-based IT, which captures the knowledge within an organisation, its people, structure and systems over a long period of time.

Shares of IT major Infosys were up nearly 1% after the company announced that it has received an order from Fidelity Bank Plc., Nigeria.

Infosys Finacle, part of the EdgeVerve Systems, a product subsidiary of Infosys announced that Fidelity Bank Plc., Nigeria will migrare its core banking platform from Finacle version 7 to version 10, the company said in a release.

Shares of information technology (IT) companies were trading higher following gains in U.S. equities as strong homebuilder data added to signs of an improvement in the world’s biggest economy.

Infosys, Tata Consultancy Services (TCS), Mindtree, Wipro, Tech Mahindra and HCL Technologies were up 1%-3% each on the National Stock Exchange (NSE).

Bengaluru: Infosys Ltd is looking at reducing the number of engineers deployed by its subcontractors on overseas projects to meet its profitability target as hiring these temporary workers is at least one-and-a-half times more expensive than using its own employees in a similar project.

Infosys plans to deploy its own employees on new projects after imparting them with skills that they earlier lacked, a reason India’s second largest software exporter was forced to rely on outside resources.

Infosys, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Adani Ports and Special Economic Zone, Abbott India and Torrent Pharmaceuticals are among 22 stocks that have hit their lifetime highs in intra-day trades today.

Positive corporate announcements and better-than–expected net profit growth for the quarter ended June 2015 (Q1FY16) have fuelled the rally in these stocks.

Shares of Infosys were trading higher by nearly 1% at Rs 1,153, extending its 5.3% rally in past two sessions on the National Stock Exchange (NSE).

The stock hit an intra-day high of Rs 1,160, a less than 1% away from its record high of Rs 1,168 touched in February this year on the NSE.

Infosys co-founder NR Narayana Murthy today said coaching classes are hurting the prestige of the brand IIT as these flourishing money-spinners are helping students only crack the entrance tests and rued that genuine freethinkers are being left out.

“Why the IITs have become less exciting for our young today and in some cases even outside, is because of the coaching classes…it is the coaching classes, which in my opinion, have brought down the prestige of IITs in some way,” Narayana Murthy said while addressing the St Xavier’s College students here this evening.

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