Page 6 - Infosys
Moonlighting is a conflict of interest, says IBM to its employees
IBM has asked its employees to refrain from engaging in a second job or gig in any capacity and has declared it as against the company contract
UK PM Sunak: Tharoor stirs Twitter storm after 'visible minority' remark
With many in India expressing their happiness, including Sunak's father-in-law and founder of Infosys Narayana Murthy, Congress leader Shashi Tharoor has stirred up a storm on Twitter
Rishi Sunak's wife earned Rs 126.61 cr dividend income from Infosys in 2022
Akshata Murty, Britain's incoming Prime Minister Rishi Sunak's wife whose tax status on income from outside the UK had triggered a controversy, earned Rs 126.61 crore (USD 15.3 million) in dividend income in 2022 from her shareholding in India's second-largest IT firm Infosys. Murthy, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares, or 0.93 per cent, of Infosys at the end of September, according to company filings with the stock exchanges. Her holding is worth Rs 5,956 crore (about USD 721 million) at Tuesday's trading price of Rs 1,527.40 on the BSE. Infosys paid Rs 16 per share final dividend for 2021-22 fiscal on May 31, this year. For the current year, the firm this month announced an interim dividend of Rs 16.5, according to the company's stock exchange filings. The two dividends totalled Rs 32.5 per share or Rs 126.61 crore for Akshata. Infosys is among the best dividend-paying companies in India. In 2021, it paid a total of Rs 30 per share dividend, w
Top headlines: CCI penalty on Google, funding winter for startups, and more
Business Standard brings you the top headlines at this hour
Infosys allows employees to take up gig work with managers' prior consent
Several IT companies including Tata Consultancy Services (TCS), HCLTech, IBM, and Wipro have opposed moonlighting, calling it an ethical issue as well as a breach of employee code
Infosys allows employees to take up gig work with managers' prior consent
Infosys has allowed employees to take up 'gig' jobs on the side with prior consent of managers provided such an engagement does not compete with the company, its clients or pose conflict of interest. The company, in an internal communication to employees, detailed how staff can take up 'gig' work. Analysts say, the move may help the company to address some attrition challenges, since it allows employees to take up additional source of earnings, and chase their tech passion, albeit with firm riders. It, however, did not define 'gig' work nor did it term it as 'moonlighting'. The latest move comes at a time when debate around moonlighting has grabbed headlines. Put simply, moonlighting refers to employees taking up side gigs to work on more than one job at a time. During the company's Q2 earnings, Infosys had made it clear that the company does not support moonlighting and that it has fired employees who were into dual employment over the last 12 months. In an email to employees on
Ex-Infosys president Ravi Kumar to join as president for Cognizant Americas
Kumar will be reporting directly to Brian Humphries, CEO Cognizant.
Indian IT companies cut hiring amid US, Europe recession fears: Report
Several CEOs of IT companies in India have said that companies need to be cautious amid macroeconomic uncertainties
Six of top-10 firms lose Rs 78,163 crore in m-cap; RIL biggest drag
The combined market valuation of six of the 10 most valued domestic firms eroded by Rs 78,163 crore last week, with Reliance Industries taking the biggest hit. Last week, the 30-share BSE Sensex declined 271.32 points or 0.46 per cent. While Reliance Industries, Bharti Airtel, ICICI Bank, HUL, Bajaj Finance and SBI saw a drop in their valuation, TCS, HDFC Bank, Infosys and HDFC emerged as the gainers. However, the combined gain of the four firms at Rs 30,467.03 crore was less than the total loss suffered by the six companies. The market valuation of index heavyweight Reliance Industries tanked Rs 42,113.47 crore to reach Rs 16,04,069.19 crore. Bharti Airtel lost Rs 15,159.81 crore to stand at Rs 4,26,226.99 crore. The market capitalisation (mcap) of ICICI Bank declined by Rs 8,272.37 crore to Rs 6,06,317.50 crore and that of Hindustan Unilever Ltd (HUL) fell by Rs 5,404.06 crore to Rs 6,05,219.47 crore. Bajaj Finance's valuation dipped Rs 4,268.28 crore to Rs 4,40,295.38 crore a
Strong Q2 earnings, Rs 9,300-crore share buyback propel Infosys stock
Market players said buyback will support the stock price in the interim
Infosys shares jump 4% on strong quarterly earnings, net profit up 11%
Shares of Infosys climbed 4 per cent on Friday after the company posted better-than-expected 11 per cent rise in consolidated net profit for the September quarter and announced buyback of shares. Shares of the company went higher by 3.82 per cent to settle at Rs 1,474.05 on the BSE. During the day, it jumped 5.22 per cent to Rs 1,494. On the NSE, it climbed 4.02 per cent to end at Rs 1,477. It was the biggest gainer among the Sensex and Nifty components. The company's market valuation jumped Rs 22,878.82 crore to Rs 6,20,254.82 crore. In traded volume terms, 5.20 lakh shares of the company were traded on the BSE and over 1.49 crore shares on the NSE during the day. Other IT stocks like HCL Technologies and Tech Mahindra also ended higher. The 30-share BSE index jumped 684.64 points or 1.20 per cent to at 57,919.97 points. On Thursday, Infosys reported an 11 per cent rise in consolidated net profit at Rs 6,021 crore for the September quarter and announced buyback of shares worth
Infosys runs 'Accelerate' to avert moonlighting, says it supports learning
Infosys supports 'gig work' for employees but is against dual employment, has fired people who were moonlighting, CEO Salil Parekh said in a media interaction on Thursday
Sensex jumps 685pts, Nifty ends near 17,200; Infosys, HDFC, HDFC Bank shine
CLOSING BELL: A sharp pull-back in the US overnight triggered the relief rally in our markets on Friday. Benchmark indices however pared gains in the latter half of the trading day.
Infosys can hit Rs 1,700, charts hint; how brokerages decode the Q2 nos
The company also announced its fourth share buyback offer worth Rs 9,300 crore, at a price of Rs 1,850 per share.
Infosys surges 5%; Q2 earnings, Rs 9,300 cr share buyback lifts sentiment
The IT major has increased the lower end of the revenue guidance keeping upper end constant i.e. revenue guidance changed from 14-16 per cent to 15-16 per cent in constant currency terms.
Stocks to watch: Infosys, Mindtree, Bajaj Auto, Shree Cement, Power Mech
Stocks to watch today: Bajaj Auto & Shree Cement will post September quarter (Q2FY23) results on Friday, October 14; Infosys posted 11 per cent YoY rise in consolidated net profit to Rs 6,021 cr in Q2
Infosys Q2 net profit rises 11% to Rs 6,021 cr, raises its FY23 guidance
Bloomberg had estimated revenue to be Rs 36,564 crore and net profit at Rs 5,902 crore
Infosys, Kotak Mahindra Bank, Maruti Suzuki among top buys for MFs in Sept
Besides Maruti Suzuki, domestic funds added Hero Motocorp while they trimmed positions in Tata Motors, Ashok Leyland and TVS Motors
Attrition to continue to spike even as IT biggies reduce hiring: Experts
HR experts also point that pre-pandemic industry attrition was in the range of 12-13 per cent, to come back to that level is going to take some time.
Infosys does not support dual employment; have fired violators: Parekh
India's second largest IT services company Infosys on Thursday made it clear that the company does not support moonlighting and said it has fired employees who were into dual employment over the last 12 months. Infosys, however, did not divulge the exact number of people who were "let go" on account of moonlighting. Last month, Wipro Chairman Rishad Premji revealed that some 300 employees were fired as the IT services company had no place for any employee who chose to work directly with rivals while being on Wipro payrolls. Put simply, moonlighting refers to employees taking up side gigs to work on more than one job at a time. On Thursday, during the Q2 earnings' briefing, Infosys CEO Salil Parekh said the company does not support dual employment. "We don't support dual employment... if we found... in the past, employee doing blatant work in two specific companies where there is a confidentiality issue, we have let go of them n the last 12 months," Parekh said. Infosys is among t
