Tag: infosys

India's second top IT company Infosys Ltd announced its earnings for the third quarter ended December 2022 for the current fiscal or Q3 FY23 on Thursday, after market hours. It reported a 13.4 percent rise in its consolidated net profit for the quarter that ended December 2022 at Rs 6,586 crore. The Company reported a net profit of Rs 5,809 crore in the same quarter last year. Its consolidated revenue from operations increased 20.2 percent to Rs 38,318 crore against Rs 31,867 crore in the corresponding quarter last year, Infosys said in an exchange filing. The reported numbers beat estimates. According to a poll of brokerages, consolidated revenue was expected to come in at Rs 37,613 crore, up 18 percent year-on-year (YoY) growth. In comparison, consolidated profit after tax (PAT) was estimated to increase 10.5 percent YoY to Rs 6,418 crore. Read more

IT major Infosys on Monday said it would consider a proposal for share buyback on Thursday when it is scheduled to report its quarterly earnings results. The Board of the Company will consider a proposal for buyback of fully paid-up equity shares of the Company at its meeting to be held on October 13, 2022,” Infosys said. The company is scheduled to announce its results for the second quarter of FY23 on the same day. If Infosys announces a share buyback program, this would be the fourth such corporate action in the history of the company. The first share buyback program of Rs 13,000 crore was announced by the Bengaluru headquartered company in 2017 through the tender offer route. It was followed by an Rs 8,260 crore issue in 2019 and Rs 9200 crore in 2021. The last two were executed through the open market route. The firm expects that the buyback will be valued between Rs 8,700 crore and Rs 9,500 crore. Read more

Shares of Infosys hit a 52-week low at Rs 1,360.15, down 1 % on the NSE in Thursday’s intra-day trade. The stock has dropped 14 percent so far in the last month and tanked almost 27% so far in 2022. amid growing concerns. Analysts peg more pain ahead for the Indian IT companies amid a likely slowdown in revenue growth of the US dollar. All eyes are on Accenture's FY23 growth outlook which will set the tone for growth expectations for the overall IT services industry. The US Fed hiked its benchmark interest rate by 75 basis points for the third consecutive time on Sept 21 and gave a hawkish outlook for future monetary tightening to curb the soaring inflation. The IT index hit an intra-day low of 26,552 and traded close to its 52-week low of 26,189 on the NSE. Global brokerage Goldman Sach downgraded its rating on Infosys from ‘Buy’ to ‘Sell’ last week, stating that it remained more optimistic on the EBIT margin estimations of Indian IT companies than their revenue prospects. Read more

The Indian key benchmark indices started today's(18 April 2022) session with deep cuts as large-caps Infosys and HDFC twins opened sharply lower. The BSE Sensex fell 980 points to 57,358, and the NSE Nifty50 slipped 280 points to 17,195 Infosys and HDFC Bank tanked 6 percent and 2.4 percent, respectively, on disappointing Q4 earnings. Tech M, HDFC, Wipro, HCL Tech, TCS, Axis Bank, Bajaj finserv, Kotak Bank and Axis Bank were the other top laggards on the Sensex. On the flip side, Tata Steel, NTPC, ITC, PowerGrid, Nestle, ONGC, Cipla, M&M, and Bajaj Auto were the gainers on the Sensex and Nifty. Read more

The Indian benchmark indices extended their winning run into the fourth straight trading session backed by solid gains in index heavyweights - Reliance Industries, Infosys, ICICI Bank, and Bharti Airtel. Reliance and Airtel were in the limelight, on reports that the three telecom majors (Jio, Airtel, Voda Idea) have sought 90-95 percent reduction in 5G spectrum auction prices. The IT shares were expected to be in focus owing to results announcements from Infosys, TCS, and Wipro. While IT major Infosys ended with a gain of 1.1 percent, TCS and Wipro, however, were down 1.5 percent and 0.3 percent, respectively, in trades awaiting the Q3 result announcements. Read more

The country's second-largest IT services company Infosys reported consolidated profit at Rs 5,421crore in the quarter ended September 2021 quarter, up 12 percent year on year. It was ₹4,845 crores in the year-ago period and sequentially grew by 4.3 percent from ₹5,195 crores in the June quarter. Revenue for the quarter was up 20 percent at Rs 29,602 crore, from Rs 24,570 crore in the year-ago period. The company has revised the revenue guidance for FY22 to 16.5%-17.5% but retained the margin guidance at 22%-24%. The Board has also approved an interim dividend of ₹15 per equity share.“Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings,” said Salil Parekh, CEO at Infosys in a press statement. Parekh said that the continued momentum in the business has given Infosys the confidence to raise its guidance for growth in revenues in 2021-22 to 16.5-17.5 percent from 14-16 percent earlier Read more

On the BSE in the intra-day trade today(15th July 2021) Shares of Infosys hit a fresh record high of Rs 1,597.25, up 1.3 percent. The country’s second-largest IT services player yesterday raised its revenue growth guidance for the financial year 2021-22 (FY22) buoyed by a robust deal pipeline. The stock surpassed its previous high of Rs 1,590.85 touched on June 30, 2021. In the past year, Infosys has outperformed the market by zooming 103 percent, as compared to a 47 percent rally in the S&P BSE Sensex. Infosys now expects its revenue to grow by 14-16 percent in FY22, up from the earlier estimate of 12-14 percent. This guidance is ahead of the one-percentage-point increase analysts were estimating. The company, however, maintained margin guidance at 22-24 percent in FY22. Analysts expect Infosys to deliver another year of an ongoing guidance raise as the current one does not fully factor in strong technology demand and execution of its record high deal wins. Read more

Shares of Infosys were down 6 per cent at Rs 1,320 on the BSE in intra-day trade on Thursday a day after the IT giant posted a 17 per cent year-on-year growth in net profit at Rs 5,076 crore for the March quarter of the financial year 2020-21 (Q4FY21) as against Rs 4,321 crore posted in the same period last fiscal. Also on account of profit booking and in the overnight trade, Infosys ADR plunged 6 per cent to $1731 per share. Consolidated revenue from operations grew by 1.5 per cent sequentially to Rs 26,311 crore, while consolidated revenue in constant currency grew by 2 per cent and the topline growth in dollar terms was at 2.8 per cent quarter-on-quarters. Infosys’ board has also approved a Rs 9,200 crore buyback of equity shares from the open market. The company will buy back shares at a maximum of Rs 1,750 apiece, a premium of 25% on the current market price of Rs 1,398 apiece and also recommended a final dividend of Rs 15 per equity share.

Buoyed by an overnight rally in tech stocks in the US, Indian IT stocks caught investor fancy today(10th March 2021). Tech-heavy Nasdaq gained about 4 percent on Wall Street on 9th March with Tesla Inc jumping 20 percent, the most in almost a year, while Amazon.com Inc and Microsoft Corp posted the biggest single-day gains in five weeks. Consequently, the Nifty IT index back home was outperforming the benchmark Nifty50 index. At 11:26 am, the Nifty IT index was ruling 1.4 percent higher at 25,936.5 levels, having touched a high of 25,984 levels in the intra-day deals. Among individual stocks, shares of KPIT Technologies, L&T Technology Services (LTTS), and Mindtree hit their respective record highs on the BSE in intra-day trade. Read more

Infosys shares hit a fresh record high of Rs 1,164.70, up 3 percent on the BSE today(13th October 2020), on the expectation that the company may raise its FY21 revenue growth guidance while announcing its July-September quarter (Q2FY21) results in tomorrow. The information technology (IT) bellwether is set to become the fifth company to touch market capitalisation of Rs 5-trillion. At 02:46 pm, the market capitalisation (market-cap) of Infosys stood at Rs 4.95 trillion, 1 percent away from the Rs 5-trillion mark. Currently, Reliance Industries leads the pack with Rs 15.4 trillion market cap, followed by Tata Consultancy Services (Rs 10.61 trillion), HDFC Bank (Rs 6.6 trillion), and Hindustan Unilever (Rs 5.02 trillion), BSE data shows. Read more

IT major Infosys said on Thursday that it will acquire US-based analytics company Blue Acorn iCi for up to $125 million. In a regulatory filing, Infosys said that the move further strengthens its end-to-end customer experience offerings and demonstrates its continued commitment to helping clients navigate their digital transformation journey. Blue Acorn iCi brings to Infosys significant cross-technology capabilities through the convergence of customer experience, digital commerce, analytics, and experience-driven commerce services, it said. It also said that the cost of acquisition would be up to $125 million including management incentives and bonuses. The acquisition is expected to close during the third quarter of FY 2021, subject to customary closing conditions."The Blue Acorn iCi acquisition is another important turning point in Infosys' journey to build capabilities relevant to the digital importance of our clients and assert our commitment to the Adobe ecosystem. Read more

Infosys won a multi-year deal from US investment firm Vanguard worth $1.5 billion, say sources. This will perhaps make it the biggest deal Infosys has ever signed. The sources also say the scope of the work could be extended to 10 years, with the contract value rising to over $2 billion. The mammoth deal explains a good part of the surge in the company’s share price on Wednesday and Thursday last week, and the confidence the company had in reinstating its revenue guidance for the year. Infosys won the deal in a hotly contested battle with Wipro in the final lap. Other serious contenders in the race included TCS and Accenture. It combines BPM services and digital transformation work to take Vanguard’s record-keeping services onto a cloud-based platform. The company will initially have 300-400 people working out of the facility and it will ramp up gradually, based on the release timeline, sources said.

As per reports Bengaluru- headquartered IT major Infosys signs multi-year multi-million contract with ABN AMRO to accelerate its cloud and DevOps (development and operations) transformation journey. This renewed contract will help ABN AMRO Bank to achieve its business and operational goals by aligning its IT transformation with its cloud platform strategy.