Shares of information technology (IT) companies were under pressure, with the National Stock Exchange (NSE) CNX IT index touching six-month lows ahead of Tata Consultancy Services (TCS)' April-June quarter results today.

TCS and HCL Technologies were down 2% each at Rs 2,537 and Rs 914 respectively, while Infosys (1.6% at Rs 942), MindTree (1% at Rs 1,215) and Oracle Financial Services Software (1% at Rs 3,857) were down between 1% and 2%. However, Tech Mahindra and Wipro were trading in the green, up by less than 1%.

Infosys on Wednesday said it has won a multi-year outsourcing contract from Deutsche Bank.

“Deutsche Bank is committed to applying innovative technology to enhance its efficiency and service to clients. Working with Infosys will help the bank to achieve these goals,” Kim Hammonds, Global Chief Information Officer, Deutsche Bank said in a statement.

The benchmark BSE Sensex remained in the negative terrain and was down over 240 points on Monday morning following selling pressure in metal, banking, IT, auto, teck, power and FMCG sectors triggered by weak Asian stocks amid Grexit fears.

At 11.36 am, Sensex was down 246.81 points at 27,845.98. Similarly, Nifty was down 68.95 points 8,415.95 during the same time.

Infosys today said it will invest $10 million from its $500 million global innovation fund in start-ups in Ireland.

The company has also bagged a outsourcing contract from Allied Irish Banks. It will take over 200 people on its rolls from the Irish financial services group and will set up a unit to house them in Dublin.

Infosys Ltd has allotted over 124,000 shares valued at Rs 5 each at par to its first non-founder chief executive Vishal Sikka, the global software major said on Tuesday.

“The board granted 124,061 restricted stock units (shares) to Vishal Sikka at a price of Rs 5 per share, as per the provisions of the 2011 plan,” the company said in a regulatory filing to the Bombay Stock Exchange (BSE).

Reiterating the goal of $20 billion in revenues by 2020, Infosys CEO Vishal Sikka on Monday unveiled a strategy that includes a visa-independent delivery system, entailing hiring a higher number of local employees in overseas locations.

Addressing shareholders at the Infosys’ 34th Annual General Meeting, Sikka said the company is vigorously renewing its existing “bread and butter” services business through better internal operational efficiencies.

Ever since it started in 1981, Infosys has seen many annual general meetings. But the 34th annual general meeting by the company on Monday is significant on many counts. This is the first AGM of the company where none of its founding members will be present.

K V Kamath, the celebrity banker, who had become the face of the company in the past four years post the retirement of N R Narayana Murthy, will also be absent.

Are MNCs better at generating cash from their companies than their domestic counterparts? Data on dividend seem to suggest so - for FY15, there were four MNCs among the top 10 companies with dividend-earning promoters. While the Tatas topped the list with total promoter dividend earnings of Rs 12,018 crore, American tech giant Oracle was the second (Rs 4,193.4 crore), followed by Unilever (Rs 2,181.8 crore).

By contrast, many of India's prominent business houses earn low amounts as dividend from their companies, with the exception of tech majors. Azim Premji of Wipro was India's fourth-highest dividend earner in FY15, with dividend income of Rs 2,174 crore. He was followed by Mukesh Ambani, who earned Rs 1,464 crore as dividend from Reliance Industries.

India’s oldest and most distinguished IT firms are doing what would have been almost sacrilegious a few years ago – holding coding marathons to develop innovative fixes and deploying “commando” units to resolve clients’ IT woes within hours.

Infosys, Wipro and other Indian IT giants, which rose to prominence during the outsourcing boom in the 1990s and 2000s, have struggled to keep pace with mushrooming start-ups. The rate of revenue growth has more than halved since 2011-12, partly due to the emerging competition.

Shares of Infosys were trading flat at Rs 990 on the Bombay Stock Exchange (BSE), after the stock turned ex-bonus today in the ratio of 1:1.

The stock hit a high of Rs 995 and a low of Rs 969 on the BSE. Till 0935 hours, a combined 497,802 shares changed hands on the counter on the NSE and BSE.

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