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Infosys Technologies
Indian Rupee Trades Near 17-Month Low
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Infy_fan_alwaysTracked by: 0 Boarder
Indian Rupee Trades Near 17-Month Low to Dollar on Stock Losses
India's rupee traded near a 17-month low against the dollar on speculation falling stocks and rising oil prices will damp demand for the currency.
Global funds sold a net $7 billion of local stocks this year, after making a record $17.2 billion in net purchases in 2007, according to exchange data. Crude oil has climbed 68 percent from a year ago, boosting import costs for Indian refiners who meet three-quarters of their needs from abroad.
'The underlying sentiment is against the rupee as volatile oil prices are spurring dollar demand,' said V. Rajagopal, chief currency trader at Kotak Mahindra Bank Ltd. in Mumbai. 'Global investors' confidence on the equity markets is dwindling, which may result in more capital outflows.'
The rupee weakened to 43.725 dollar as of 9:25 a.m. in Mumbai, from 43.7075 yesterday, according to data compiled by Bloomberg. It may decline to 44 in a few days, Rajagopal said.
India's benchmark stock index, the Mumbai Stock Exchange Sensitive Index, fell 0.47 percent. The index of 30 companies traded on the Mumbai Stock Exchange fell 69.67 to 14,608.56. Among the stocks included in the index 7 rose and 23 fell.
Crude oil surged for a third day to $116.33 a barrel on the New York Mercantile Exchange. India's average crude oil imports rose to $8 billion a month this year from $5.5 billion in 2007, Bloomberg data show.
Dollar demand from refiners is persistent, which is leaving little room for the rupee to consolidate, Kotak's Rajagopal said.
...
Hunt talent, reverse brain drain: NRN
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
India's tech titans see growth slowing as costs are rising
By NIRAJ SHETH THE WALL STREET JOURNAL
Published: Thursday, August 21, 2008 at 1:00 a.m.
Last Modified: Wednesday, August 20, 2008 at 11:25 p.m.
NEW DELHI -
India's information-technology industry, the engine of the nation's economic resurgence, is losing steam.
A decade ago, a host of Indian companies -- led by Infosys Technologies Ltd., Wipro Ltd. and Tata Consultancy Services Ltd. -- shot to global prominence by helping fix the 'millennium bug' that threatened to crash many of the world's computers at the end of 1999.
Often growing at 40 percent a year or more since, they quickly helped build a global tech-outsourcing industry that has changed how the world does business and how it views India.
Now that growth is slowing sharply.
The credit crunch and spending slowdown in the U.S. are hurting the companies' biggest market, while a cheaper dollar shrinks their profits. Longer-term problems are surfacing. Competition is rising from other low-cost nations, ranging from Eastern Europe to the Philippines and Vietnam. India's own success has raised labor expenses, cutting into the companies' low-cost advantage just as their revenue growth is slowing.
Infosys expanded its corps of software engineers by one-third between 2006 and 2007, adding 15,000 people. Its average salaries are rising 12 percent a year, and increasingly high turnover is forcing the company to spend more on training. Growth in profits fell to 18 percent in the most recent fiscal year, which ended March 31, compared with 56 percent the previous fiscal year.
Tata Consultancy Services posted just a 4.9 percent increase in net profit in its latest quarter, compared with 37 percent in the same period a year earlier. Wipro's earnings growth slowed similarly, to 11.6 percent in the fiscal year ended March 30, down from 42.3 percent in the previous year.
The Indian tech industry's trade group, Nasscom, projects revenue to grow at 20 percent to 25 percent in coming years -- still heady by the standards of most industries, but barely half the recent rate.
'The first round of growth is always easier,' Nasscom President Som Mittal said last month. 'The next 10 years is going to be different.'
To compensate, India's outsourcing giants are trying to pivot into more ambitious -- and in some cases unfamiliar -- enterprises.
In a project called 'ShoppingTrip360,' a team of Infosys engineers is pitching retailers on a wireless-equipped shopping cart that charts the most efficient path through a store based on a consumer's shopping list.
Wipro won a contract to help design a water-flow system for the toilets in Airbus's new A380 superjumbo jet.
Tata Consultancy Services has set up an 'Innovation Lab' in Chennai where, for instance, engineers are trying to develop software that airlines could use to improve their customer service; the idea came from TCS executives' own airline peeves.
The efforts have not yet been much help to the bottom line. Basic outsourcing remains the overwhelming share of their business -- 84 percent in the past fiscal year. But the revenues of Wipro's product-development unit rose by almost 50 percent in the past two years combined, to $686 million last year.
The Indian tech firms are hoping they can leverage their ties to companies around the world to sell them on new ventures.
'We're in a challenging environment for growth,' said S. Ramadorai, chief executive at TCS, India's largest technology company by sales, in an interview in Mumbai. The next opportunities will not be based merely on low-cost labor, he said, but on 'innovation and strategy.'
The change comes as India's broader economy already is slowing.
Economists estimate that growth in gross domestic product will ease to between 7 percent and 7.5 percent this fiscal year, after five years of averaging almost 9 percent annually.
...
In reply to:
Hunt talent, reverse brain drain: NRN
Posted by : Infy_fan_always
Centre plans 'IT regions'
Mysore: The Centre is seeking to uplift secondary cities to keep pace with the IT growth. IT joint secretary N Ravi Shanker said the Centre plans to set up an 'IT investment region' in each state after consulting the state governments. These IT-specific regions will have better infrastructure so that IT firms could open shops without certain bottlenecks. "The IT department has formed a committee to provide 1 GB connectivity to 10,000 institutes in the country. Initially, around 100 institutes will be in the loop. Bangalore-based IISc, IITs and CSIR laboratories are included in the first phase. The ISiM will get the facility too," he said. TNN
Hunt talent, reverse brain drain: NRN
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
India\\`s tech titans see growth slowing as costs are rising
By NIRAJ SHETH THE WALL STREET JOURNAL
Published: Thursday, August 21, 2008 at 1:00 a.m.
Last Modified: Wednesday, August 20, 2008 at 11:25 p.m.
NEW DELHI -
India\\`s information-technology industry, the engine of the nation\\`s economic resurgence, is losing steam.
A decade ago, a host of Indian companies -- led by Infosys Technologies Ltd., Wipro Ltd. and Tata Consultancy Services Ltd. -- shot to global prominence by helping fix the \\\\...
In reply to:
Hunt talent, reverse brain drain: NRN
Posted by : Infy_fan_always
Centre plans 'IT regions'
Mysore: The Centre is seeking to uplift secondary cities to keep pace with the IT growth. IT joint secretary N Ravi Shanker said the Centre plans to set up an 'IT investment region' in each state after consulting the state governments. These IT-specific regions will have better infrastructure so that IT firms could open shops without certain bottlenecks. "The IT department has formed a committee to provide 1 GB connectivity to 10,000 institutes in the country. Initially, around 100 institutes will be in the loop. Bangalore-based IISc, IITs and CSIR laboratories are included in the first phase. The ISiM will get the facility too," he said. TNN
Hunt talent, reverse brain drain: NRN
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
Centre plans 'IT regions'
Mysore: The Centre is seeking to uplift secondary cities to keep pace with the IT growth. IT joint secretary N Ravi Shanker said the Centre plans to set up an 'IT investment region' in each state after consulting the state governments. These IT-specific regions will have better infrastructure so that IT firms could open shops without certain bottlenecks. "The IT department has formed a committee to provide 1 GB connectivity to 10,000 institutes in the country. Initially, around 100 institutes will be in the loop. Bangalore-based IISc, IITs and CSIR laboratories are included in the first phase. The ISiM will get the facility too," he said. TNN
...
In reply to:
Hunt talent, reverse brain drain: NRN
Posted by : Infy_fan_always
Mysore: Hoping to reverse brain drain, Infosys chief mentor N R Narayana Murthy has offered to bring talented professionals from across the world to India.
There is no growth without infrastructure. But what is important is the ability to attract talent, he said, stressing the need to create such an environment. "I will do whatever I can to attract good people ," he said at the inauguration of International School of Information Management (ISiM) on Wednesday. It is perhaps India's first I-school and affiliated to Mysore University (MU).
The ISiM aims to start an I-school movement in Asia under a public-private partnership model. The Ford Foundation and Bangalore-based Informatics (India) funded the institute based at Manasa Gangotri, which has on its governing board reputed names such as IIT-Kanpur chairman M Anandakrishnan , former director general of National Information Centre N Seshagiri, former director of IIM-Bangalore Prakash G Apte and founderdirector of Bangalore-based International Institute of Information Technology S Sadagopan.
"You continue to attract wonderful people from institutes across the world. I'm convinced that more than physical infrastructure projects , it is the ability to attract good people that is crucial. Creation of such an atmosphere is the key to success," he said. He asked professionals to be open-minded and imaginative.
"The only way to take development ahead is through innovation and a powerful tool for innovation is knowledge management. At Infosys , we are constantly doing it. Good knowledge management is crucial, be it for the IT sector , academia or R&D laboratory ," he said. "Proper grooming at the primary level is also important," he added.
He said MU is doing an excellent job in grooming its basics , which will add value to the economy. Ford Foundation representative Ganesan Balachander , MU vice chancellor T C Shivashankarmurthy and ISiM executive director Shalini Urs were also present.
Hunt talent, reverse brain drain: NRN
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
Mysore: Hoping to reverse brain drain, Infosys chief mentor N R Narayana Murthy has offered to bring talented professionals from across the world to India.
There is no growth without infrastructure. But what is important is the ability to attract talent, he said, stressing the need to create such an environment. "I will do whatever I can to attract good people ," he said at the inauguration of International School of Information Management (ISiM) on Wednesday. It is perhaps India's first I-school and affiliated to Mysore University (MU).
The ISiM aims to start an I-school movement in Asia under a public-private partnership model. The Ford Foundation and Bangalore-based Informatics (India) funded the institute based at Manasa Gangotri, which has on its governing board reputed names such as IIT-Kanpur chairman M Anandakrishnan , former director general of National Information Centre N Seshagiri, former director of IIM-Bangalore Prakash G Apte and founderdirector of Bangalore-based International Institute of Information Technology S Sadagopan.
"You continue to attract wonderful people from institutes across the world. I'm convinced that more than physical infrastructure projects , it is the ability to attract good people that is crucial. Creation of such an atmosphere is the key to success," he said. He asked professionals to be open-minded and imaginative.
"The only way to take development ahead is through innovation and a powerful tool for innovation is knowledge management. At Infosys , we are constantly doing it. Good knowledge management is crucial, be it for the IT sector , academia or R&D laboratory ," he said. "Proper grooming at the primary level is also important," he added.
He said MU is doing an excellent job in grooming its basics , which will add value to the economy. Ford Foundation representative Ganesan Balachander , MU vice chancellor T C Shivashankarmurthy and ISiM executive director Shalini Urs were also present.
...
Infosys to touch 1860 by mid next week
Posted by :
gooodyTracked by: 0 Boarder
you phool, kindly stop posting repetitive messages simultaneously.....it is indeed an eyesore......and u are driving away infosys investors away .........
In reply to:
Infosys to touch 1860 by mid next week
Posted by : Infy_fan_always
Local chief executive Gary Ebeyan expects business process outsourcing work to double in the next year, while core banking revenues could grow rapidly if the company succeeds in several bids.
'We have four BPO customers and we are probably in negotiation with another six or seven on top of that, and we expect that to increase,' Mr Ebeyan said.
'The Finacle core banking platform will be explosive.'
The National Australia Bank has shortlisted Infosys along with Oracle for its billion-dollar core systems overhaul, but Mr Ebeyan declined to comment on these discussions.
He also expects growth of between 20 and 30 per cent in its 'bread and butter' enterprise application business, which includes application development and legacy application maintenance.
In the financial year ending March 31, 2008, Infosys recorded revenues of $159 million, up 24 per cent on the previous year.
This figure is only for work performed in Australia, and doesn't include revenue generated by offshore work on local projects.
Infosys's annual profit grew by 41 per cent to $28.9 million.
The company is well positioned to service the growing market for business process outsourcing, having appointed a local practice head last year.
Mr Ebeyan said Infosys started investing heavily in its core banking product two to three years ago.
'We hired a consulting team, which did a gap analysis of the market and where Finacle was, and we now have the roadmap to carry out those changes.'
Infosys employed between 900 and 1200 staff, depending on the workload, and this would probably grow by 20-30 per cent, Mr Ebeyan said.
Rival outsourcer Satyam is building a 2000-seat facility in Geelong and has a goal of hiring 1400 people over the next four years, a large number of whom would be local graduates.
Mr Ebeyan said Infosys's strategy did not include hiring a large number of local graduates.
'We aim to recruit a smaller number of high-calibre graduates who we can fast-track to a higher value role, such as architecture or program management. That's what we focus on, rather than getting 100 graduates and using them as programmers.'
The company sent about 10 students a year to its 1 million square metre training facility in Mysore, India.
'We have the largest training institute in the southern hemisphere in Mysore, where we can house and train 10,000 people at a time,' Mr Ebeyan said.
'They can actually learn our processes and see the organisation at its root level, and it also gives them opportunities to work on global delivery for global clients.'
Will Infosys dole out cash to investors?
Posted by :
GuestTracked by: 0 Boarder
Absolutely wrong ... Don\\`t make investors fool and your self Full....
In reply to:
Will Infosys dole out cash to investors?
Posted by : Infy_fan_always
Infosys expected to touch 1860 by mid next week.
Cheers!
Infosys builds huge Indian campus
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
Indian IT outsourcing giant Infosys is building a massive campus in Hyderabad that will employ 25,000 people.
The campus at Pocharam in the central Indian city will be spread over 447 acres and be developed over 10 years in three phases.
Work is beginning on the first phase to build seating for 10,000 employees and Infosys said the campus would be energy and water efficient to support its bid to be carbon neutral.
Chairman of the board at Infosys, N R Narayana Murthy, said in a statement: "We are delighted to commence work on the new campus. The state government has worked at enhancing infrastructure facilities at Hyderabad to make it a premier IT destination globally."
The expansion follows sluggish growth in the Indian outsourcing market, with Infosys reporting revenue of US$1.16bn in its first quarter — up 24.5 per cent on the same period last year but falling short of the 40.6 per cent growth in the first quarter of 2007.
The new campus will bolster Infosys' existing 10,000-strong campus in Gachibowli, Hyderabad, which was built in 2001 and enjoys a wide range of facilities including a gym, swimming pool, health clinic, grocery store and health clinic.
It comes as analyst Evalueserve predicts that India's revenue from its IT industry is likely to grow sixfold to US$193.1bn over the next seven to eight years, making it the second largest IT services labour pool after the US.
...
Infosys expects explosive banking growth
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
INDIAN outsourcer Infosys is expecting strong revenue growth over the next year, and is geared up for an "explosion" of work in banking and business process outsourcing.
Local chief executive Gary Ebeyan expects business process outsourcing work to double in the next year, while core banking revenues could grow rapidly if the company succeeds in several bids.
"We have four BPO customers and we are probably in negotiation with another six or seven on top of that, and we expect that to increase," Mr Ebeyan said.
"The Finacle core banking platform will be explosive."
The National Australia Bank has shortlisted Infosys along with Oracle for its billion-dollar core systems overhaul, but Mr Ebeyan declined to comment on these discussions.
He also expects growth of between 20 and 30 per cent in its "bread and butter" enterprise application business, which includes application development and legacy application maintenance.
In the financial year ending March 31, 2008, Infosys recorded revenues of $159 million, up 24 per cent on the previous year.
This figure is only for work performed in Australia, and doesn't include revenue generated by offshore work on local projects.
Infosys's annual profit grew by 41 per cent to $28.9 million.
The company is well positioned to service the growing market for business process outsourcing, having appointed a local practice head last year.
Mr Ebeyan said Infosys started investing heavily in its core banking product two to three years ago.
"We hired a consulting team, which did a gap analysis of the market and where Finacle was, and we now have the roadmap to carry out those changes."
Infosys employed between 900 and 1200 staff, depending on the workload, and this would probably grow by 20-30 per cent, Mr Ebeyan said.
Rival outsourcer Satyam is building a 2000-seat facility in Geelong and has a goal of hiring 1400 people over the next four years, a large number of whom would be local graduates.
Mr Ebeyan said Infosys's strategy did not include hiring a large number of local graduates.
"We aim to recruit a smaller number of high-calibre graduates who we can fast-track to a higher value role, such as architecture or program management. That's what we focus on, rather than getting 100 graduates and using them as programmers."
The company sent about 10 students a year to its 1 million square metre training facility in Mysore, India.
"We have the largest training institute in the southern hemisphere in Mysore, where we can house and train 10,000 people at a time," Mr Ebeyan said.
"They can actually learn our processes and see the organisation at its root level, and it also gives them opportunities to work on global delivery for global clients."
...
Infosys expects banking growth
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
INDIAN outsourcer Infosys is expecting strong revenue growth over the next year, and is geared up for an "explosion" of work in banking and business process outsourcing.
Local chief executive Gary Ebeyan expects business process outsourcing work to double in the next year, while core banking revenues could grow rapidly if the company succeeds in several bids.
"We have four BPO customers and we are probably in negotiation with another six or seven on top of that, and we expect that to increase," Mr Ebeyan said.
"The Finacle core banking platform will be explosive."
The National Australia Bank has shortlisted Infosys along with Oracle for its billion-dollar core systems overhaul, but Mr Ebeyan declined to comment on these discussions.
He also expects growth of between 20 and 30 per cent in its "bread and butter" enterprise application business, which includes application development and legacy application maintenance.
In the financial year ending March 31, 2008, Infosys recorded revenues of $159 million, up 24 per cent on the previous year.
This figure is only for work performed in Australia, and doesn't include revenue generated by offshore work on local projects.
Infosys's annual profit grew by 41 per cent to $28.9 million.
The company is well positioned to service the growing market for business process outsourcing, having appointed a local practice head last year.
Mr Ebeyan said Infosys started investing heavily in its core banking product two to three years ago.
"We hired a consulting team, which did a gap analysis of the market and where Finacle was, and we now have the roadmap to carry out those changes."
Infosys employed between 900 and 1200 staff, depending on the workload, and this would probably grow by 20-30 per cent, Mr Ebeyan said.
Rival outsourcer Satyam is building a 2000-seat facility in Geelong and has a goal of hiring 1400 people over the next four years, a large number of whom would be local graduates.
Mr Ebeyan said Infosys's strategy did not include hiring a large number of local graduates.
"We aim to recruit a smaller number of high-calibre graduates who we can fast-track to a higher value role, such as architecture or program management. That's what we focus on, rather than getting 100 graduates and using them as programmers."
The company sent about 10 students a year to its 1 million square metre training facility in Mysore, India.
"We have the largest training institute in the southern hemisphere in Mysore, where we can house and train 10,000 people at a time," Mr Ebeyan said.
"They can actually learn our processes and see the organisation at its root level, and it also gives them opportunities to work on global delivery for global clients."
...
Infosys BPO restructures procurement biz
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
Infosys BPO has also launched a Sourcing and Procurement Academy that would train the employees on the latest global practices and requirements to service clients under the new offerings. It has also launched an ‘on demand’ procure-to-pay business platform which is made available to clients at a variable but predictable price based on their procurement spend. ...
In reply to:
Infosys BPO restructures procurement biz
Posted by : Infy_fan_always
Infosys BPO, the business process outsourcing subsidiary of Infosys Technologies has reorganised its procurement business to provide end-to-end solutions across the entire ‘source-to-pay’ cycle to broaden its service offerings and customer base.
The services under the new practice include e-procurement, supplier management, contract management, strategic sourcing and spend management.
Infosys BPO restructures procurement biz
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
Infosys BPO, the business process outsourcing subsidiary of Infosys Technologies has reorganised its procurement business to provide end-to-end solutions across the entire ‘source-to-pay’ cycle to broaden its service offerings and customer base.
The services under the new practice include e-procurement, supplier management, contract management, strategic sourcing and spend management.
...
iNFOSYS
Posted by : zoombusinessTracked by: 0 Boarder
The chief executive of Infosys Technologies, India\'s second-largest software services exporter, said the business environment remained challenging but there was no move by clients for lower prices.
Nasdaq-listed Infosys is finding new business opportunities despite an uncertain global economic environment, S. Gopalakrishnan said on Wednesday.
\"We see opportunities with existing clients, we see opportunities with new clients,\" he said.
\"We need to accelerate growth with new clients,\" he said.
Last month, Infosys, which develops applications, designs supply chains and offers back-office services, reported a 21 per cent rise in quarterly profit but warned of challenging times ahead as its major Western clients battle weakening economies.
Indian outsourcing firms such as Infosys and its bigger rival Tata Consultancy Services are expanding to Europe, Asia, the Middle East and Latin America to cut their dependence on the United States. -TFE
...
Infosys expected to touch 1860 by mid next week
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
The Dollar is getting very strong and continuing its journey in the northern direction. In today's early trade the greenback was trading at a high of 43.86 INR/USD, and it is expected to be around 44.5-45 INR/ USD for the full year.
This is in reminiscence of the Great days of 'Indian IT'. The game is on the cards now and it is the best time to be in Indian IT considering all aspects, and safer to be in IT bellwether Infosys....
In reply to:
Infosys expected to touch 1860 by mid next week
Posted by : Infy_fan_always
The Dollar is getting very strong and continuing its journey in the northern direction. In today\\`s early trade the greenback was trading at a high of 43.86 INR/USD, and it is expected to be around 44.5-45 INR/ USD for the full year.
This is in reminiscence of the Great days of \\\\
Infosys expected to touch 1860 by mid next week
Posted by : Infy_fan_alwaysTracked by: 0 Boarder
The Dollar is getting very strong and continuing its journey in the northern direction. In today\\`s early trade the greenback was trading at a high of 43.86 INR/USD, and it is expected to be around 44.5-45 INR/ USD for the full year.
This is in reminiscence of the Great days of \\\\...
In reply to:
Infosys expected to touch 1860 by mid next week
Posted by : Infy_fan_always
The Dollar is getting very strong and continuing its journey in the northern direction. In today\\`s early trade the greenback was trading at a high of 43.86 INR/USD, and it is expected to be around 44.5-45 INR/ USD for the full year.
This is in reminiscence of the Great days of \\\\
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