Shares of Infosys hit a fresh record high of Rs 1,185, up 4 per cent on the BSE in early morning trade on Thursday after the company reported healthy set of July-September quarter (Q2FY21) numbers on revenue and profitability front. The company has revised its FY21E revenues guidance upwards from 0-2 per cent year on year (YoY) to 2-3 per cent YoY in constant currency basis & operating margin guidance to 23-24 per cent from 21- 23 per cent.
Global software major Infosys on Thursday announced it has acquired US-based product design firm Kaleidoscope Innovation for $42 million (Rs 309 crore) to expand its engineering service offerings in medical devices, consumer and industrial markets across America.
Our subsidiary Infosys Nova Holdings has signed an agreement to acquire 100 per cent equity capital of Kaleidoscope for $42 million, said the city-based $13-billion IT major in a statement from Ohio's Cincinnati in the US midwest.
Indian IT giant Infosys on Friday said it has terminated the services of an employee for a social media post where he urged people to go out and sneeze and spread the novel coronavirus which has infected over 800 people in the country so far.
The man, identified as Mujeeb Mohammed, has been arrested by Bengaluru Police for the post.
Shares of Infosys were trading lower for the second straight day, sliding 3 per cent today to hit a 52-week low of Rs 565, on the BSE. The stock of the IT consulting & software firm was trading at its lowest level since April 19, 2018.
In the past two days, the market price of Infosys has slipped 12 per cent, as compared to a 7 per cent decline in the S&P BSE Sensex.
The Infosys in Bengaluru has evacuated one of its satellite office buildings following reports of its employee coming in contact with a suspected coronavirus patient.
The development comes after the Karnataka government advised IT and other professionals working in air-conditioned places to work from home for time being, for about a week, to prevent the spread of the virus.
Infosys is likely to post lower revenue growth of around 7 per cent in organic terms in financial year 2020-21 (FY21), compared to FY20 as the spread of coronavirus (COVID-19) is widely expected to pull down the global economy.
The revenue growth number will be around 200 basis points (bps) lower on constant currency basis than the Bengaluru-headquartered firm is expected to post in FY20, said analysts at ICICI Securities based on their interaction with Infosys Chief Financial Officer Nilanjan Roy.
Former Infosys CEO Vishal Sikka, who recently launched his AI startup Vianai Systems, has been nominated to the board of directors of global technology major Oracle.
Sikka, 52, is among the world's leading experts in Artificial Intelligence (AI), Machine Learning and would be helping Oracle in the business value and adapt to change, the company said in a statement.
Infosys Ltd advanced 3.7 per cent to Rs 721.50 apiece in the intra-day trade on the BSE on Wednesday after the non-executive chairman Nandan Nilekani, during the company's concall, told investors that the company would take action if the allegations against it are substantiated.
"While I will not comment on the merits of the allegation at this time, the company will take action if the allegations are substantiated," Nilekani told investors.
The stock prices of Indian multinational Infosys fell by 16% on Tuesday, following an anonymous letter by whistleblowers accusing Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy of indulging in unethical practices to boost revenue and profits in recent quarters.
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