At the recently held Global Leadership Summit, business magnate N. R. Narayana Murthy surprised attendees with a special performance. The founder of Infosys took to the stage to belt out an Elvis Presley classic, which he dedicated to his wife Sudha Murty. The heartwarming moment was captured on video and has since gone viral on social media, with many praising Murthy for his sweet gesture.
The second season of the popular comedy show, The Great Indian Kapil Show on Netflix, recently began with renowned guests like Alia Bhatt and Karan Johar. In the latest episode, renowned businessmen and philanthropists Narayana Murthy and Sudha Murthy, along with Zomato CEO Deepinder Goyal and his wife Grecia Munoz, shared their entertaining stories and advice on relationships. Sudha Murthy revealed that on their first meeting, Narayan Murthy was two hours late to impress her father.
The latest second-quarter financial report from Infosys has not met investor expectations, with its shares falling by 4.50% and causing a market value loss of Rs 31,327.94 crore. Despite the decline, the company posted a 4.7% year-on-year growth in its consolidated net profit and has now raised its revenue growth forecast for the full financial year. CEO Salil Parekh credits the rise in mega deals for the increase in revenue and this marks the third consecutive year of guidance increase for Infosys.
Indian tech giant Infosys Ltd announced a 4.7% increase in net profit for the quarter ended September 2024, along with a revised revenue guidance for FY25 on the back of successful mega deals. The company also declared an interim dividend and saw a rise in stock prices following the results announcement. CEO Salil Parekh credited their growth to industry expertise and market-leading capabilities, while CFO Jayesh Sanghrajka highlighted their focus on accelerating revenue growth and margin performance.
Bengaluru-based IT services giant Infosys released its Q2 results on Thursday, reporting a steady sequential margin and a modest revenue growth in constant currency terms. However, the company's shares fell by over 4% in Friday's trade. Morgan Stanley maintains an overweight rating on the stock, with a target of Rs 2,150, while Citi maintains a neutral position with a target of Rs 1,965. Citi highlights important forward-looking indicators for Infosys, including a decline in large deal total contract value, a decrease in headcount, and no projected growth in the upcoming quarters.
Infosys, one of India's largest IT companies, reported a 4.7 per cent rise in net profit in the September quarter. Despite a tough global economic environment, the company added about 2,500 employees in the quarter, reversing a six-quarter hiring downturn. This is an important development for Infosys, which has been struggling to retain employees in recent years. The company's strong financial performance and increase in employee strength signals growth and stability for the IT giant, making it a market leader in the tech industry.
Recent quarter earnings reports are causing major fluctuations in the stock market, with some companies experiencing sharp increases and others facing significant drops. TCS, the IT giant, saw its shares plummet by 2% after a disappointing Q2 earnings announcement, while Bajaj Auto announced a hike in deferred tax provision leading to their stock taking a hit. In contrast, HCL Tech and Infosys, leading IT companies, saw their stocks soar after strong earnings. Other companies, such as Bajaj Finserv, Asian Paints, and Bajaj Housing Finance, also experienced dips after reporting their earnings. Even the auto sector was not immune, with Maruti and Bandhan Bank experiencing both surges and drops respectively in their stock prices following their earnings announcements.
Ratan Tata, a man known for his integrity and philanthropy, passed away in Mumbai at the age of 86. Sudha Murty, Rajya Sabha MP and founder of Infosys Foundation, remembers him as a man of simplicity and compassion. With his passing, India has lost a true icon in the world of business and philanthropy.
Indian stock market shows strong performance as benchmark indices BSE Sensex and NSE Nifty gain over 0.75% on Thursday. Private lender HDFC Bank sells off housing loan portfolio worth $717 million while RITES consortium emerges as lowest bidder for $11.9 million project. Piramal Capital & Housing Finance, subsidiary of Piramal Enterprises, sells immovable property worth Rs 187 crore in Mumbai. Other major corporate actions such as ex-bonus and ex-dividend trading for Pulsar International and Sanghvi Movers, respectively, and strategic collaboration between Infosys and Sally Beauty Holdings Inc. to provide IT efficiencies through hyper-automation also to be watched out for on Friday.
The Indian stock market indexes, Sensex and Nifty, remained steady on Wednesday amidst a mixed response from global markets. Stocks such as Tata Steel and ICICI Bank faced losses while companies like IndusInd Bank and Infosys showed growth. Meanwhile, the state-owned construction company, NBCC India, saw a surge of over 6% in its shares. Midcap and smallcap indices reached new highs, but sectors like banks and metals faced losses while media and IT companies saw buying trends. Market experts predict a consolidation phase with low volatility and a slight upward bias in the near future.