Rising salaries whittle away Indian IT’s cost advantage; Companies will have to focus on automation, innovation and productization
Rising margin headwinds in the near term and revenue headwinds in the medium term from a potential macro slowdown will mean that the sector’s earnings upgrade cycle is behind
Earlier in the day, the CBIC had said that a technical glitch has been reported by Infosys in the generation of April GSTR-2B and auto-population of GSTR-3B on the portal.
Before today's meeting, the Labour Ministry had issued another notice to Infosys to hold a joint discussion on April 28, which the IT major did not attend.
The Central Board of Indirect Taxes and Customs (CBIC) said a technical glitch has been reported by Infosys in generation of April 2022 GSTR-2B and auto-population of GSTR-3B on portal.
The market valuation of Reliance Industries tumbled Rs 1,30,627.7 crore to reach Rs 16,42,568.98 crore.
After consolidating for more than four months, Kotak Mahindra Bank has given a breakout of a triangle pattern on the daily chart.
Macroeconomic factors including uncertainty related to the ongoing Russia-Ukraine war are likely to have some impact on IT services companies with considerable presence in Eastern Europe
As per the clause, employees who have quit the firm are banned from working with the clients, with who they were associated for 12 months before they quit.
While these provisions are not new and are common among companies, they have gained prominence against the backdrop of increased attrition. Infosys reported 27.7 percent attrition for the quarter ended March 31, 2022.
This comes in the backdrop of IT major’s Q4 earnings that showed the attrition continues to spike amid a robust demand environment. The company hired 85,000 freshers in the year ended March 31, 2022, while the attrition stood at 27.7 percent.
"Today we have no center in Ukraine but the other areas we have been expanding in and that has developed quite well," he said.
Benchmarks Sensex and Nifty declined for eight out of nine trading sessions, falling over 7% each. Investors lost Rs 10 lakh crore market value in this period
YES Securities is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 2018 in its research report date April 14, 2022.
ICICI Direct recommended hold rating on Infosys with a target price of Rs 2000 in its research report dated April 17, 2022.
Infosys and its disciples are increasingly being battered by forces that refuse to follow the logic of the global market
Earlier, analysts predicted IT firms to report robust revenue growth, with mid-cap companies expected to outperform their larger rivals
In the current geopolitical environment, it becomes critical to keep track of major geographical revenue contributors
The company had a skeletal presence in Russia implying little impact of the exit on performance, but the timing raises questions on why it took that decision
The stock fell as much as 9%, its biggest fall since 23 March 2020 and touched a low of Rs 1592 a share. At 9.30am, the scrip was trading at Rs 1642 on BSE, down 7% from its previous close.
Arihant Capital recommended Neutral rating on Infosys with a target price of Rs 1659 in its research report dated April 16, 2022.
KR Choksey is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 2094 in its research report dated April 16, 2022.
While FY22 was a banner year for the IT services major, the fourth quarter disappointed, as revenues and margins came below expectations.
Prabhudas Lilladher recommended accumulate rating on Infosys with a target price of Rs 1899 in its research report dated April 14, 2022.
With companies fighting for a limited talent pool, attrition has been on the rise for the last three quarters. As a result, supply side crunch has become a huge challenge for the firms.