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After explaining the changes made to the Board, Rao said: "This is a major milestone in ensuring a smooth transition of our organisation."
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IT stocks fell further on Thursday, as investors continued to believe that pricing pressures for the sector are far from over.
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Indian IT industry is in the midst of a slowdown, which may lead to slower job creation but the situation isn’t dire yet, says Pravin Rao, COO of Infosys.
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The slowdown in tech spending is expected to continue for the next 12-18 months as clients are not reinvesting in new tech at a rapid pace, says Infosys' COO
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Corporate governance and proxy advisory firms Stakeholders Empowerment Services (SES) and Institutional Investor Advisory Services (IIAS) do not resonate with Narayana Murthy's views.
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Infosys has written to its institutional shareholders for a reply on what role should promoters play in the day-to-day working of the company.
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Alleging that Infosys' board was "misguided", Pai said the ""fundamental problem" was the pay hike given earlier to CEO Vishal Sikka "without any justification", because of which other executives were also expecting higher pay.
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"Nasscom had given guidance in November last and between November and now things have not changed. There was a feeling that let us wait till April when most of the major companies start giving their annual results, that would be the right time," the software exporter's Chief Operating Officer, Pravin Rao, told reporters here.
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Though the H1-B visa policy is still unclear, expect US President-elect Donald Trump to be business friendly in the long term, says Vishal Sikka, MD and CEO of Infosys.
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Credit Suisse says in an investor conference, Rao indicated some volatility in the demand environment, some vertical specific challenges and 'quarterly bumps' in the short-term.
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UB Pravin Rao, COO, Infosys is confident on achieving FY17 revenue growth guidance of 11.5-13.5 percent for next few years.
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The company's employee strength has increased 10 percent in the year ended March 31,2016. Total number of employees at Infosys was 194044 in FY16. Number of trainees in Q4 was 6098.
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"Any individual can present the idea, there will be a jury judging those ideas. If the ideas are interesting and relevant to current problems, then we'll give the award just to recognise and encourage," the company's Chief Operating Officer Pravin Rao told reporters here.
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R Chandrashekhar, President, Nasscom, sees IT sector growth at 12.3 percent in constant currency terms.
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On government‘s initiatives, Pravin Rao, COO, Infosys says it is a tremendous opportunity to share, exchange information and improve collaboration.
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In an analyst concall, Pravin Rao, COO, Infosys said the company is making corrections to its pricing strategy to win more deals.
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IT companies are now facing the fact that tradition core IT services that contributes to majority of revenues are actually seeing a decline by 70-80 percent and the digital spending uptick of 25-30 percent cannot make up for the loss in traditional services.
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On the first quarter results of Infosys Technologies, the CEO of Infosys BPO,
Swaminathan D, tells CNBC-TV18 that the company has grown by 16% and that eight new clients have been added.
