"Our nation would probably be the first country in the world to have data empowerment infrastructure for its people," he said in his keynote address at the 'Future Global Digital Summit' organised by the Kerala government.
The software services company had made an initial investment of USD 4 million in the company in January 2016
Infosys had made an initial investment of USD 4 million in the company in January 2016.
Analysts believe some companies are merely rebadging or reclassifying existing work as digital business, as despite claims of increase in profitability, most companies have seen a decline in revenue per employee over the last three years
The former Infosys director said India has about 30,000 startups employing about 3.5-4 lakh people and every year about 5,000-6,000 such ventures are sprouting. “Last year, we got about USD 13.65 billion funding (in startups). Today they have created about USD 95 billion of value,” Pai told PTI in an interview.
Nilekani, who contested the last Lok Sabha polls on a Congress ticket, said banks were nationalised over five decades ago because they were focusing only on big industries and ignoring smaller ones. The 21 state-run banks had suffered reverses because of lending to large companies.
"The financial results would be finally approved by the board of directors on April 13," Infosys said in a filing to exchanges.
In May 2017, Infosys had announced that it planned to establish multiple technology and innovation hubs across the US with a focus on artificial intelligence, machine learning, user experience, emerging digital technologies, cloud, and big data.
Infosys has already inaugurated its first technology and innovation hub in Indianapolis, Indiana.
The Nifty PSU banking index jumped 3.66 percent led by Bank of India which zoomed over 9 percent intraday on the back of recovery of Rs 7,000 crore from other banks. Punjab National Bank was up 4.3 percent while Andhra Bank zoomed over 5 percent.
"Sustained closing may take the Benchmark index towards 10,440 and 10,470. Further, stock specific recovery in the oversold ones might be the key feature," says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management Ltd.
Ashwani Gujral of ashwanigujral.com recommends buying United Spirits, Jubilant Foodworks and NIIT Technologies.
"The association of Indian IT companies are expecting a strong growth in the fiscal year 2019 as most of the companies are able to adapt to the new age digital technologies and are also strengthening in the automation segments which could make the space as one of the strong sectors for the year 2018," JK Jain, Head of Equity Research at Karvy Stock Broking told Moneycontrol.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Infosys and can short BPCL and M&M Financial Services.
Rajat Bose of rajatkbose.com recommends buying Ashok Leyland and Infosys.
The market breadth was in favour of the declines with 677 stocks advancing while 1039 declined and 302 remained unchanged. On the other hand, in the BSE, 989 stocks advanced and 1634 declined and 149 remained unchanged.
One should focus on fundamentals from earnings point of view as well as from a macro point of view, Gautam Duggad, Head of Research, Institutional Equities at Motilal Oswal Securities.
Other members of the leadership team including CFO, MD Ranganath, Presidents Ravi Kumar S and Mohit Joshi have also been given stock units of the Benagluru-based firm.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Tata Motors around Rs 330 and HDFC Bank at Rs 1740 while one may book profits in Infosys around Rs 1250.
Taking global cues, Nifty is expected to open flat to negative around 10,460 and likely to remain stuck in the price band 10410 to 10540, says a report by Stewart & Mackertich.
The Moneythor platform, integrated with Finacle, will enable financial institutions to deliver personalised recommendations and insights to customers on numerous digital channels and devices.
Each of the chief executives of India's top four IT companies has the same challenge- how to beat the other three.
Even as Infosys’ Former CFO Rajiv Bansal continues the fight for his severance package of close to Rs 12 crore in arbitration. Sources tell CNBC-TV18 that Infosys has in fact sought a large sum in counter claims from Bansal.
Infosys, India's second largest software services firm, today said it has divested its investment in OnMobile Systems Inc for USD 2.49 million.
Chandan Taparia of Motilal Oswal Securities is of the view that one can buy Infosys and Hindalco Industries and can sell BHEL.