BENGALURU: Vishal Sikka did away with Monday's mandatory tie soon after he became Infosys CEO in August last year. Now, all Infoscions have been told that they are free to get rid of their formals and dress more comfortably to work through the week. Turtlenecks and denims, and anything that does not look too shabby or too casual, are officially in.

This marks a big change for a company that for years mandated that all employees should come in formals from Monday to Thursday. For a company whose vast majority of employees is in their twenties, formals was a source of much irritation.

Infosys, India’s second-largest information technology services company, on Thursday said it was comfortably placed to achieve revenue growth guidance for 2015-16 on a better deal pipeline and increasing interest in its offerings.

Speaking at a conference organised by investment advisory firm Cowen & Company, Vishal Sikka, chief executive officer and managing director of Infosys, said recent initiatives had started yielding dividends.

India’s second largest information technology (IT) services provider, Infosys, has abandoned plans to develop its second centre in Thiruvanthapuram’s Technocity. Senior executives said lack of infrastructure at the project site was why.

Ramadas Kamath, executive vice-president at Infosys, who heads infrastructure, facilities and administration, confirmed a letter from Infosys had been sent to the Technopark authorities conveying the decision.

A district court in the US has rejected a plea by Infosys, India's second-largest information technology (IT) services company, to dismiss a discrimination lawsuit filed by a few IT workers there.

In their lawsuit filed in 2013, four IT workers, who claimed themselves as 'Caucasians of American national origin', had alleged they were discriminated against because they were not South Asian, Indian, Bangladeshi or Nepalese.

The software product revenues of India’s second biggest IT firm Infosys declined by close to 10% in FY15 largely due to certain challenges associated with Finacle, its core banking software. The software product revenues of Infosys stood at Rs 1,653 crore last fiscal as against R1,828 crore in FY14, revealing a decline of 9.5%, according to the company’s latest annual report.

Software products contributed about 3.2% to Infosys’ overall revenue in FY15 as against 3.6% in FY14.

Capital markets regulator Securities and Exchange Board of India (Sebi) named Infosys founder N R Narayana Murthy to head a panel to devise rules on a new funding platform for homegrown start-ups, it said on its website.

In March, Sebi had announced an alternative investment platform targeted at the country's start-ups, relaxing requirements to encourage them to list at home.

Top executives at Infosys, such as its chief operating officer and chief financial officer, have witnessed their annual compensation rise 170-210% in FY15 against the previous fiscal, according to latest filings with the US SEC.

Infosys COO UB Pravin Rao, who took over in June, 2014, received a total compensation of $9,70,646 for FY15 including salary, bonus and incentives and commission, compared to the $3,18,954 he got in FY14. This transalates into a 204% rise in total compensation over the last year.

Calling for support to Prime Minister Narendra Modi, Infosys co-founder N. R. Narayana Murthy on Wednesday said a lot of good things have happened in the past year and all political parties and citizens should “rally behind the PM.”

“We have a PM who is enthusiastic and is working hard... People, all parties and opposition should rally behind him,” he said.

Bengaluru: Less than a year after taking the helm of India’s second-largest software services exporter, Infosys Ltd’s chief executive officer (CEO) Vishal Sikka is a lot surer about which way the company is headed.

“I’m vastly more confident and comfortable about the future,” Sikka, 47, said in an interview. “Most people do not really understand what it was like when I started. We needed to stabilize then. And now, we all are excited. People are excited because they know they are involved in something great.”

BENGALURU: Infosys will spend about Rs 400 crore over the next four years to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepen its commitment to sustainability, a senior executive at India's second-largest software services company said.

The Bengaluru-based company will have to offset 3.74 lakh tonne of carbon dioxide attributed to employees' travel, and it will spend Rs 70 crore this year on initiatives such as installing solar projects for rural electrification, biogas plants and distribution of smokeless cook-stoves in villages, besides afforestation.

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