Mumbai: The 30-share bellwether BSE Sensex on Thursday was trading 35 points higher, led by shares of consumer durables and technology companies.

At 9.41am, Sensex was trading higher by 0.15%, or 38.53 points, at 25,588.25 points, while the National Stock Exchange’s broader barometer 50-share Nifty was trading up 0.19%, or 14.40 points, at 7,638.80 points.

In yet another instance of a former American employee alleging harassment at Infosys Technologies, one Layla Bolten has sued the Bangalore-headquartered information technology firm in that country. She has claimed she was discriminated against by colleagues, mostly Indians, as she could not speak in Hindi.

We reiterate our ‘buy’ rating on Infosys and remain constructive on the stock given reasonable valuations of ~14x FY16f and a gradually improving revenue growth trajectory. We raise our target price to R3,790 (earlier R3,770) on roll-forward and it is based on 16x 1 year forward EPS (up to June-16) of R236.6. The 16x multiple (unchanged) is a 10% discount to its historical average valuations and 20% discount to our target multiple for TCS.

Infosys has dipped over 4% to Rs 3,185 in early morning deals, erasing its entire gain recorded in last week, on the National Stock Exchange (NSE).

The stock had outperformed the market by gaining 2.4% in last week compared to 3.7% decline in benchmark CNX Nifty.

V Ganapathy Subramanian, who till very recently was formulating and implementing planning and strategy at information technology major Infosys, will now help the Bangalore-based company's chief executive manage his family office.

According to multiple sources, Subramanian, earlier the head of planning and strategy at Infosys, is soon going to join Chief Executive Officer S D Shibulal's family office, Innovations Investment Management India.

Infosys is facing a challenge of double-digit attrition, which many believe could rise further in the next quarter (July-September) before peaking out.

According to experts, the high attrition is a reflection of business-related challenges at the company, and the senior exits over the last one year.

Infosys, India’s second largest information technology (IT) services company, ended the first quarter of financial year 2014-15 with better-than-expected earnings and the management indicating that most of the company-specific issues may now be a thing of the past.

Shares of information technology (IT) companies are trading higher in the range of 1-4% on the National Stock Exchange (NSE) after Infosys reported a better-than-expected consolidated net profit for the first quarter ended June 30, 2014 (Q1).

All four large-cap IT stocks - Infosys, Tata Consultancy Services (TCS), HCL Technologies and Wipro are up in the range of 1-2%. Rolta, Tech Mahindra, KPIT Cummins, NIIT Technologies and Hexaware Technologies are up 2-4% on NSE.

India’s second largest information technology (IT) services company Infosys today cheered investors by posting earnings for April-June 2014 (Q1FY2015) on expected lines, and throwing up a positive surprise on the margins and volumes growth front.

The Bangalore-based company, which has missed Street estimates for several quarters in past, today posted a 21.6% year-on-year growth in net profit at Rs 2,886 crore, and a 13.3% year-on-year growth in revenues at Rs 12,770 crore.

BANGALORE: The hunt is on at two of India's biggest software companies — Infosys2.28 % and Wipro 0.89 % — for tech visionaries and corporate leaders who can join their boards and reinvigorate them after the exit of several old-timers and co-founders later this year.

While the board of Bangalore-based Infosys will be made up of non-founders for the first time in history, cross-town rival Wipro too is looking to replace at least three of its directors who are set to retire in a few months.

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