Top information technology companies such as TCS, Wipro, Infosys, Tech Mahindra and HCL have told the government that China remains a difficult market to do business in, despite the fact that they have been present in the world’s third-largest IT services market for over a decade now.
In a meeting with commerce and industry minister Piyush Goyal late on Wednesday, the top executives of these companies said market access in China is a nagging issue, thanks to various non-tariff barriers employed by Beijing.
Shares of Infosys rose 7.2 per cent to end at Rs 780, an all-time high, after the firm raised revenue growth forecast for FY20.
Most analysts have raised their 12-month price target for the stock, hoping for increased payouts to shareholders. Analysts, however, say rising employee attrition remains a key risks, given the strong demand. Citibank said the valuation gap between Infosys and TCS would narrow further.
Shares of IT bellwether Infosys rallied as much as 5.48 per cent in the opening deals on Monday after it reported healthy set of numbers for the March quarter (April-June) of the financial year 2019-20 (FY20).
At 09:37 am, the stock was trading 4.29 per cent higher at Rs 758 apiece on the BSE. Other IT stocks, too, gained in the trade lifting the Nifty IT index 1.52 per cent higher at 15,459 levels.
Infosys on Friday altered its capital allocation policy to give back 85 per cent of its free cash flow to shareholders effective from FY20. Earlier, the company was distributing up to 70 per cent of its free cash flow to the shareholders.
“Effective from FY20, the company expects to return around 85 per cent of the free cash flow cumulatively over a period of five years through a combination of semi-annual dividends or buybacks," the firm said in a statement.
India’s second largest information technology services firm Infosys spends about Rs 14 lakh on the training of each student, after which it takes them 12 weeks to become productive, Ravi Kumar, President and Deputy COO, told CNBC TV18. Infosys, which hires students from schools and colleges, has picked some 3,000 students and is focussing on training, skilling and building talent locally, Ravi Kumar added.
India's second largest IT services firm Infosys on Monday said it has set up an experience design and innovation studio in Shoreditch, London.
The facility will provide space for Infosys and its clients to ideate, collaborate and innovate together by combining design and the latest technology offerings, including artificial intelligence, augmented reality/virtual reality, Internet of Things and 5G, Infosys said in a statement.
New Delhi: IT services major Infosys on Friday said it has completed the acquisition of 75 per cent shareholding in ABN AMRO Bank's wholly-owned Stater NV.
In March, the country's second largest IT services firm had said it will acquire 75 per cent stake in Stater for 127.5 million euros (about Rs 989 crore). ABN AMRO continues to hold the remaining 25 per cent.
Infosys’ board on Thursday proposed granting equity shares worth Rs 10 crore to Chief Executive Officer Salil Parekh as part of a new stock incentive plan aimed at retaining talent.
Chief Operating Officer and Whole-time Director UB Pravin Rao will get shares worth Rs 4 crore. In all, 50 million shares will be allocated to employees, subject to shareholders’ approval, under the initiative called ‘Infosys Expanded Stock Ownership Program 2019’.
Infosys Technologies co-founder and chairman Nandan Nilekani on Monday said India’s digital infrastructure will play a major role in reviving its economy.
Nilekani was addressing members of the Federation of Indian Chambers of Commerce and Industry (Ficci) at the national executive committee meeting on ‘Digital India and its Impact on Economy and Industry’ held in Bengaluru.
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