Infosys Announces Buyback Programme With Rise In Net Profit To Rs 6,021 Crore
Infosys posted an 11 per cent year-on-year rise in consolidated net profit to Rs 6,021 crore for the September quarter and also announced a share buyback programme worth Rs 9,300 crore. As per PTI, IT company will also pay an interim dividend totalling Rs 6,940 crore to the shareholders. Moreover, net profit of Infosys, India's second largest firm stood at Rs 5,421 crore in the same period a year ago.
Tags: business, Infosys, IT Companies, Shares, Quarter Finance
Courtesy: Press Trust of India
Infosys Employees To Receive Lower Remuneration For June Quarter
India's second biggest information technology services provider Infosys has allegedly reduced the average variable compensation of employees due to the impact on margins and high staff costs. Infosys has reduced around 70% of the variable payment for the June quarter or Q1 FY23. Each employee's real variable payment will be determined by the regulations of their unit or… read-more
Tags: Infosys, employees, salary cut, June quarter, Quarter 1
Courtesy: DNA INDIA
Market Capitalization Increases By Rs 1.81 Lakh Crore
Hindustan Unilever was the largest gainer last week, increasing its market worth by Rs1,81,209.89 crore along with eight of the top ten domestic companies. Reliance Industries and Tata Consultancy Services (TCS) were the two bottom-performing companies in the top-10 group. Reliance Industries continued to be the most valuable company in the top-10 list, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC, and Bharti Airtel.… read-more
Tags: TCS, HDFC BANK, Infosys, Reliance Industries, Market Capitalization
Courtesy: Free Press Journal
Infosys's Non-Compete Clause Unenforceable, Say Lawyers
The newly invoked non-compete clause by Infosys is not enforceable, according to several lawyers and recruiters. The clause prohibits new-comers from working on the same customer's projects across named rival companies for a certain phase of time since leaving the company. This move comes amid sky-high attrition. However, the IT giant has described this as a standard business practice, adding that it won't affect one's career growth.
Tags: business, Infosys, IT, IT sector, IT Company
Courtesy: Live Mint
Infosys To Hire 55,000 Freshers Under Global Graduate Recruitment Drive
Under the "Global Graduate Recruitment Drive," Infosys will hire 55,000 freshers in FY 2022. On January 12, Infosys announced a profit of Rs 5,809 crore for the third quarter of FY 2022, which has been increased by 12% compared to Q2. Nilanjan Roy, the Chief Financial Officer of Infosys said, "We continue to prioritise investment in talent acquisition and development". Notably, Infosys is India's second largest IT company.
Tags: Infosys, Global Recruitment, FY2022, India, Graduate employment
Sensex, Nifty Open In Green; Sensex Above 60,000 & Nifty Above 17,000
The BSE benchmark index, the Sensex and NSE Nifty opened in green on November 12, after a three day red. In the opening deal, Sensex gained 328.35 points at 60,230.45 while Nifty gained 111.85 points at 17,985.45. Furthermore, the "top gainers" were reported to be Tata Steel, Sun Pharma, Tech Mahindra, Bajaj Finance, HDFC, Asian Paints and Infosys, while the "top losers"… read-more
Tags: Sensex, NSE NIFTY, BSE SENSEX, GAIN, Infosys
Courtesy: United News Of India
'3 Crore Taxpayers Successfully Completed Transactions', Says Infosys After Fixing Glitch
After harsh criticism by the government over ongoing errors in the new tax portal, Infosys has highlighted on September 23 that "three crore taxpayers have completed transactions using the site and 1.5 crore tax returns were filed". Based on interaction with over 1200 taxpayers directly, Infosys has fixed the glitches. Reportedly, Infosys is now focusing on steadily increasing the Income Tax E filing.
Tags: Infosys, Tax Portal, Glitches, Government, Income Tax Department
Former RBI Chief Backs Infosys Over RSS's Anti-National Remark
In talks with NDTV, RBI Former Governor Raghuram Rajan takes a dig at RSS on its anti-national remark. He backs Infosys for its uncalled mistake of the government's Income Tax Portal by counter-questioning, "Would you accuse the government of being anti-national for poor performance on Vaccination initially?" He suggested steps to revive the Indian economy from the Covid-19 shock and criticized the rollout of GST.
Tags: Raghuram rajan, Infosys, Former RBI governor, RSS
Infosys To Open New Digital-Development Unit; Aims To Create 500 Jobs In 3 Years
A global leader in digital services and consultancy, Infosys, announced on August 26 that it will open a new digital-development unit in Canada's Mississauga. Over the next three years, their goal is to create 500 excellent employment opportunities in Toronto. Infosys has invested a substantial amount of money to create a digital development centre that would assist Canadian firms to speed their digital transformation by training, upskilling… read-more
Tags: Infosys, Canada, Digital Development, Bangalore
Infosys Gets September 15 Deadline To Fix Glitches Faced By Taxpayers
After users couldn't access the Infosys portal for two consecutive days, Finance Minister Nirmala Sitharaman gave the deadline of September 15 to fix the glitches. Two meetings regarding the issues faced by taxpayers were held with Salil Parekh, Infosys MD and CEO, on August 23. The Income Tax Department released a statement saying that Parekh stated they “are doing everything to ensure the smooth functioning of the portal.”
Tags: Infosys, finance minister nirmala sitharaman, Income Tax Department, Glitches, Taxpayer
Courtesy: The Indian Express