Infosys had been the subject of two anonymous complaints relating to acquisitions, CEO compensation and expenditures.
The numbers put out by the industry body are very realistic because the global IT spending is not going up this year and there are political uncertainties in the US and parts of Europe, two key markets of Indian firms, said T V Mohandas Pai, the former Chief Financial Officer (CFO) of Infosys.
The Bengaluru-based firm has also been working on reducing its per capita electricity consumption. It said the per capita electricity consumption has been reduced by 2.88 per cent in 2016-17.
Sudarshan Sukhani of s2analytics.com is of the view that one may buy Voltas, Ceat and Adani Ports and can hold Maruti Suzuki while one may avoid Infosys.
Sikka also believes that the Indian IT companies need to grab the opportunities provided by new technologies like artificial intelligence in a big way to retain its global leadership edge in this fast changing infotech environment.
Several long time Infosys employees, or 'Infoscions', as the company refers to them, have quit in the past two years. Notable among these were Sanjay Purohit, the former head of consulting at Infosys, who quit last year
Most experts have a target of 32,000 – 33,000 on the S&P BSE Sensex which translates into an upside of about 5 percent. Investors will be better off staying with stocks which can outperform markets by a wide margin.
According to Ashwani Gujral of ashwanigujral.com, one can buy Balrampur Chini, Kaveri Seed Company and Canara Bank and can sell M&M.
Leading the poaching war is the Bengaluru-based Infosys which has hired more than half of its 150 top-paid executives from rival companies’ camps.
DLF,Avenue Supermarts,State Bank of India, and Infosys are on the radar of Kotak Securities
Latest to join the band of GST software enablers is GST Star, a Bangalore-based firm started by Infosys veterans. Other IT firms who have joined the GST bandwagon include SAP, Microsoft, Zoho, Tally, Deskera and ClearTax.
While India’s large pre-internet era companies are grappling to transform their revenue models, which are stuck on effort-based billing Anand Deshpande, founder and chairman of Persistent Systems, believes the game is over for that kind of model.
Dadlani, who quit Infosys as the head of Americas and global head of retail, CPG, logistics and manufacturing, will be responsible for working with Mars’ global business segments.
Edelweiss is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1173 in its research report dated June 16, 2017.
Says the exit of Sandeep Dadlani is worrying sign; suggests against centralizing all responsibilities at the top level.
The leadership programme was first introduced in 2001, but was put on back burner after Matt Barney – who lead the team – quit in 2013.
Old promoters of the company are at loggerheads with the management on the issue of compensation, among other things. Though the attrition in the lower and middle level software engineers has, to a large extent, been managed, senior management continues to leave the company.
Some quality names in IT and pharma are available at appealing valuations which are attracting smart money into these stocks.
There have been reports of layoffs across companies like Wipro, Infosys, Cognizant and Tech Mahindra that have initiated annual performance reviews, a process that weeds out bottom performers or non-performers.
Ashwani Gujral of ashwanigujral.com is of the view that Aditya Birla Money hit Rs 80 and advises not to go after pharma stocks.
The appointment is effective July 3, 2017, Infosys said in a statement. Prior to Wipro, she has served as managing partner of a mid-sized law firm in Silicon Valley and has also worked with ITC Ltd as the in-house counsel.
The total category wise asset under management (AUM) of the mutual fund (MF) industry slipped by 1.2 percent or Rs 22,327 crore to Rs 19.03 lakh crore for the month of May 2017, but equity funds saw an increase of 2.7 percent in the same period.
Infosys plans to pay over Rs 1 crore to more than 1,800 employees in developed countries.
Balakrishnan said digitisation of government services would bring revenues. This in the short-term would give a momentum to the IT services industry, which was presently seeing single digit growth rates compared to the 15-20 per cent rise a few years ago.
In the Infosys annual report filed with the US Securities and Commissions, the IT major implicitly highlights the ongoing tension between the founders and the company management.