Shares of information technology (IT) companies are under pressure and trading lower by up to 6% in otherwise firm market after the Indian rupee soared to the highest level in almost three months against dollar.
Infosys plans to increase its dependence on offshore locations for IT services delivery as a part of a cost cutting drive, sources said. The Bangalore-based company has been grappling with increasing onsite wage costs in the past few quarters.
For Bangalore-based information technology major Infosys, 2015 will be an action-packed year. The company will not only get a new chief executive officer (CEO) but also have a revamped board of directors.
Infosys, the global leader in consulting, technology and outsourcing solutions set its foot at Mohali in Punjab with the ground breaking ceremony of the campus at Mohali in the presence of Sukhbir Singh Badal, the Deputy Chief Minister of Punjab and N R
United Bank of India (UBI), which markets itself as 'the bank that begins with U', has taken a U-turn a day after it blamed deficiencies in Infosys' Finacle software for failing to identify non-performing assets (NPAs) in its small loan accounts.
Software giant-Infosys would lay the foundation stone of its campus in India on February 22, having employment potential of 15,000 youth at Mohali in Punjab. Initially, the company is likely to invest around Rs. 527 crore in the campus.
Infosys BPO, the business process outsourcing subsidiary of Infosys, today announced that Royal Philips of the Netherlands has extended its existing seven-year outsourcing agreement with Infosys for an additional five years.
The decision was taken at a company board meeting on January 10, 2014, based on the recommendations of the nominations and governance committee, and management development and compensation committee, Infosys said in a notice to BSE today.
As Indian firms turn towards disruptive technologies to optimise operations, banks too are joining the social media and mobility bandwagon to offer personalised services to customers this year, IT services major Infosys said.
Top-level exits at Bangalore-based Infosys may have led to concern about the company’s medium-term growth, but these have contributed to Executive Chairman N R Narayana Murthy’s strategy of cost optimisation.
The first flush of results for the quarter ended December 2013 suggests a revival in India Inc’s profitability, led by software services companies like Tata Consultancy Services, Infosys, Wipro and HCL Technologies.