Bodhtree Consulting sees a smart move in trade today, up almost 10 percent. The company has tied up with IT major Infosys to provide GST solutions to clients.
NR Narayana Murthy, the father of Indian IT industry and founder of Infosys, has a prescription for the industry in these tough times.
The Chairman will continue to lead and I will accompany him, said the new co-chairman of Infosys, Ravi Venkatesan.
Biocon Chief Kiran Mazumdar Shaw says India is not an outsourced services country anymore, it is an innovation and knowledge partner.
Speaking to CNBC-TV18, TV Mohandas Pai, the former Chief Financial Officer of Infosys, said new-age startups have no clear strategy and very poor execution.
Speaking to CNBC-TV18, UB Pravin Rao, Chief Operating Officer at Infosys, said all options were being explored and that the company's board would decide on the timeline of the buyback and the cap allocation policy.
India's largest software company confirmed this morning that it would consider doing a buyback on February 20.
Speaking to CNBC-TV18, Girish Pai, Head of Research at Nirmal Bang Institutional Equities, said it was clear that there is still friction between the Infosys board and the company's founders.
Corporate governance is an issue of trust and that has to be solved â€“ trust has been broken, which needs to be bridged, said Mohandas Pai, Former HR Head at Infosys told CNBC-TV18.
Infosys CEO Vishal Sikka said the developments over the past week didn‘t weigh him down. Meanwhile, Infosys Chairman R Seshasayee ruled out the need to revisit the disclosures made when CFO Rajiv Bansal left the company.
The founders of the company can give their valid advise to the board. The board too has to be open about founders' opinion. But in the end, it is up to the board to decide what is reasonable, and what isn't.
Trip Chowdhry, Managing Director - Equity Research at Global Equities Research, said that rather than wasting time and money on issues like CEO Vishal Sikka's package Infosys should focus on its long term targets.
Rajiv Bansal, who left the company in 2015, was given 24 months‘ salary as severance pay, a fact that has provided fodder to detractors of the management. Roopa Kudva told Moneycontrol in an exclusive interview that due process had been followed in Bansal‘s exit, but added that the company had since reworked contracts of employees.
The faceoff between the Infosys board and founders is more on governance than any strategic matters says, former CFO V Balakrishnan. "The board is a big let-down in engaging with shareholders," he says in an interview to CNBC-TV18. He also clarifies it is not an issue between (Vishal) Sikka and the founders.
Former chief financial officer T V Mohandas Pai blasted the board and sought detailed answers from the board regarding concerns over corporate governance and â€˜excessive pay packages.
In a sign of the troubled times that the Indian IT sector has been going through, the management of Infosys may consider the option of a share buyback, according to people close to the IT major. The size of the share buyback could be a mammoth Rs 12,000 crore.
Nasscom chairman R Chandrashekhar said positive signs of an upturn were already visible in the Q3 earnings of Infosys and TCS, with significant growth in revenues from the digital space.
Speaking to CNBC-TV18, Sanjay Dutt of Quantum Securities said that while foreign institutional advisors will give him the benefit of doubt, he is skeptical about picking someone from within the organization who follows same ideology as Tatas‘.
The challenge for Indian companies with respect to the US is to try to become more valuable to the customers. IT companies can increase value, by mainly delivering on the innovation front and improving productivity and quality of output, says Murthy.
Ramesh Damani‘s popular Wizards of Dalal Street is back, and this time Damani interviewed Rahul Rathi, MD & Chairman of Purnartha Investment Advisors. Rathi spoke about his two styles of investing: Invest in a business, and the other strategy is to invest in the businessman.
In an interview to CNBC-TV18, R Chandrashekhar, President of NASSCOM said a lot of short-term cues are negatively impacting IT industry.
But along with that the employment growth rates have started to dip, NV 'Tiger' Tyagarajan says. The percentage addition of employees in India will not be same as past. And due to advancements, a workforce with higher skill sets is required for the IT industry, he says.
Macroeconomic conditions across countries are not great and nations need real reforms to spur investor confidence, BCG Chief Executive Richard Lesser told CNBC-TV18. He, however, added that investors across the globe have a lot of confidence that such crucial reforms have started in India.
The exodus at Infosys continues with its Executive Vice-president and Global Head of Consulting Sanjay Purohit being the latest to quit the company.