Infosys today offered to buyback equity shares not exceeding Rs 13,000 crore at a price of Rs 1,150 per share.
CNBC-TV18 is the only TV channel to get access to the newly set-up centre of Wipro in Silicon Valley and Shereen Bhan caught up with CEO Abidali Neemuchwala at this new facility and asked him about the company's plans for alliances and investment strategies in the Silicon Valley.
In an interview to CNBC-TV18, S Ramadorai, Former Chairman of Tata Consultancy Services (TCS) shared his readings and outlook on global cyber attack.
One positive part is that the USD 100 million clients and USD 50 million clients have continued to see an addition, said Urmil Shah IDBI Capital Markets & Securities.
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.
Tata Sons Chairman Designate Natarajan Chandrasekaran, under whom IT major Tata Consultancy Services grew from strength to strength, has quashed concerns over US visa troubles the industry is anticipating. â€œI am not in the gloom and doom club,â€ he said asserting that demand for the IT sector will be robust.
Patrick Vallance, President - R&D, GlaxoSmithKline said the company is looking forward to more collaborations and is looking at a number of options to move ahead with its expansion plans.
The discussion about about Gopinath becoming the CEO started a week before the announcement was made, he says.
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.
Newly appointed Rajesh Gopinathan as CEO and MD of TCS, who replaces N Chandrasekaran has big shoes to fill in. Gopinathan hopes to continue with what the company has been doing in the past and also come up with new ideas.
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‘.
peaking to CNBC-Tv18 Amit Tandon of IIAS said that the voting pattern at TCS which removed Cyrus Mistry reflects the conversation on the Street.
The regulators must step in to verify the allegations that have been levelled by the ousted chairman of Tata Group on the company, says JN Gupta, Former ED, Sebi. TCS shareholders are voting after the Tata Group called an EGM today seeking the ouster of Cyrus Mistry from the board of directors.
Mistry‘s office has hit back on a Tata Sons‘ November 10 note, which according to Mistry, creates an illusion that he was a 'hands off' Chairman and TCS and JLR were on auto-pilot during his leadership.
The board of Tata Consultancy Services (TCS) had an unscheduled meeting early today to discuss the plan for an extraordinary general meeting to seek removal of Cyrus Mistry, reports CNBC-TV18. Mistry is believed to have stayed absent.
Speaking to CNBC-TV18 Arun Giri, Senior Journalist, said Tata Sons will be calling a TCS EGM to take up removal of Cyrus Mistry. TCS parent company Tata Sons and its directors have lost confidence in Mistry, says the statement.
Tata Sons has appointed Ishaat Hussain as Chairman of Board Of Directors. Cyrus Mistry who was ousted as the holding company's Chairman has ceased to hold that host on the board.
Speaking to CNBC-TV18 Nasscom President R Chandrashekhar spoke about TCS Chief and MD Natarajan Chandrasekaran‘s elevation to the Tata Sons Board. He said that the move signifies the rising importance of IT in a large multi-sector conglomerate‘s business portfolio.
Some knee-jerk reaction to the new is expected, but no damage over long-term is expected, said Ramesh Damani, member of BSE & NSE adding that â€œthough it will expose dirty linen of Tata Group to public eye.â€
In an interview to CNBC-TV18, R Chandrashekhar, President of NASSCOM said a lot of short-term cues are negatively impacting IT industry.
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.
Indian IT companies need to pivot to the cloud technology to stay ahead of the curve -- that's the advice to the likes of Wipro and Infosys from Adobe's Shantanu Narayen.
The analysts are bearish on the entire IT pack and believe that the sector will underperform in coming quarters. However, industry body Nasscom says that various factors are the reason behind volatility in the sector.