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Jun 12, 2014

Infosys names first external CEO in turnaround bid

MUMBAI (Reuters) – Infosys Ltd, India’s second-largest IT services exporter, has for the first time picked an outsider as chief executive officer, as it seeks to boost sales of high-margin services like cloud computing and stem a staff exodus.

Vishal Sikka, a former member of executive board at German software company SAP AG, has the technical savvy to herald what analysts expect will be a strategy overhaul at Infosys, which, like its competitors Tata Consultancy Services Ltd and Wipro Ltd, has relied on labour-intensive, low-margin contracts from Western clients.

Jun 12, 2014

Infosys names first external CEO; chairman Murthy to step down

MUMBAI, June 12 (Reuters) – India’s Infosys Ltd
named former SAP AG top executive Vishal Sikka as
Chief Executive Officer, the first time it has not chosen one of
its founders for the role, as it looks to regain market share
and stem a staff exodus.

India’s second-largest IT services exporter said Executive
Chairman N.R. Narayana Murthy would step down on Saturday,
nearly a year after he was brought in from retirement to help
the company better compete with rivals including Tata
Consultancy Services and Wipro.

Jun 11, 2014

New tech, venture capital feed “gold-rush” among India’s IT start-ups

MUMBAI, June 12 (Reuters) – In India’s IT services
outsourcing sector, local start-ups, often backed by U.S.
venture capital funds, are nipping at the heels of industry
heavyweights such as Tata Consultancy Services Ltd and
Infosys Ltd.

These nimble start-ups, most of them based in Bangalore,
offer niche cutting-edge technology products, solutions and
services that traditional outsourcing companies don’t offer, or
can’t offer at competitive rates.

May 29, 2014

Infosys running out of time to name new CEO as president quits

MUMBAI (Reuters) – India’s second largest IT services exporter Infosys Ltd is under pressure to bring in a new chief executive soon to check an exodus of junior staff and reassure investors after a slew of departures at the top.

Shares in Infosys, the most widely held Indian stock, fell to their lowest level in nine months on Thursday, the day after it announced president and board member B.G. Srinivas had resigned.

May 29, 2014

Infosys running out of time to name new CEO

MUMBAI (Reuters) – India’s second largest IT services exporter Infosys Ltd (INFY.NS: Quote, Profile, Research) is under pressure to bring in a new chief executive soon to check an exodus of junior staff and reassure investors after a slew of departures at the top.

Shares in Infosys, the most widely held Indian stock, fell to their lowest level in nine months on Thursday, the day after it announced president and board member B.G. Srinivas had resigned.

May 11, 2014

Leaving the dream: Infosys battles worker exodus

MUMBAI (Reuters) – Infosys Ltd, once a bellwether for India’s $100 billion-plus IT outsourcing industry, is losing its cachet as the employer of choice for a generation of young IT workers, with staff leaving at an unprecedented pace as the Bangalore-based company struggles to regain ground lost to rivals.

Current and former Infosys staff interviewed by Reuters say morale has been dented by a series of senior management exits and worries about career prospects as the company’s revenue and pay increases grow at a slower rate than at competitors such as Tata Consultancy Services Ltd (TCS).

May 10, 2014

Reliance Industries, partners take government to arbitration over gas pricing

MUMBAI (Reuters) – Reliance Industries Ltd (RELI.NS: Quote, Profile, Research) and its partners in a gas block, BP Plc (BP.L: Quote, Profile, Research) and Niko Resources (NKO.TO: Quote, Profile, Research), said on Saturday they were taking the government to arbitration seeking implementation of higher gas prices.

The government in June last year approved a formula, linking prices of locally produced gas with global benchmarks, that could have nearly doubled gas prices from the current $4.20 per mmBtu from April 1.

May 10, 2014

Reliance, partners take Indian govt to arbitration over gas pricing

MUMBAI, May 10 (Reuters) – India’s Reliance Industries Ltd
and its partners in a gas block, BP Plc and
Niko Resources, said on Saturday they were taking the
Indian government to arbitration seeking implementation of
higher gas prices.

The government in June last year approved a formula, linking
prices of locally produced gas with global benchmarks, that
could have nearly doubled gas prices from the current $4.20 per
mmBtu from April 1.

Apr 17, 2014

Wipro upbeat on growth prospects; profit beats f’cast

BANGALORE/MUMBAI (Reuters) – Wipro (WIPR.NS: Quote, Profile, Research), India’s third-biggest IT services exporter, posted forecast-beating quarterly profit on Thursday and said it expects a stronger year ahead on increased spending by overseas clients.

The company is part of a $100 billion-plus Indian outsourcing sector that generates about 90 percent of its sales from providing services such as IT network installation and the development of software applications for overseas clients that are finally beginning to loosen their purse strings.

Apr 17, 2014

Indian IT outsourcing firm Wipro upbeat on growth prospects

BANGALORE/MUMBAI, April 17 (Reuters) – Wipro,
India’s third-biggest IT services exporter, posted
forecast-beating quarterly profit on Thursday and said it
expects a stronger year ahead on increased spending by overseas
clients.

The company is part of a $100 billion-plus Indian
outsourcing sector that generates about 90 percent of its sales
from providing services such as IT network installation and the
development of software applications for overseas clients that
are finally beginning to loosen their purse strings.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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