Infosys to expand its campus in Telangana
Tech giant Infosys is all set to expand its IT campus at Pocharam. The move will lead to the creation of 17,000 new jobs in Telangana.
Tech giant Infosys is all set to expand its IT campus at Pocharam. The move will lead to the creation of 17,000 new jobs in Telangana.
Last week, the combined market valuation of six of the top 10 valued domestic firms eroded by Rs 1.71 lakh crore.
IT major Infosys on Thursday reported 11.5 per cent increase in net profit at Rs 6,806 crore in the third quarter (Q3) this fiscal, from Rs 6,106 crore in the year-ago period.
The combined market valuation of five of the top-10 most-valued firms tumbled Rs 1,85,952.31 crore last week.
IT major Infosys has reportedly deferred the annual salary hike in the fourth quarter of FY 2024-25. The company last implemented a salary hike in November 2023.
In July, the Union Finance Ministry asked the Institute of Chartered Accountants of India (ICAI) to constitute a seven-member task force to look into the technical issues facing the new Income Tax e-filing portal developed by Infosys.
In traded volume terms, 19.07 lakh shares were traded at the BSE and over 92.72 lakh units at the NSE during the day.
"The board will consider a proposal for buyback of fully paid-up equity shares at its meeting on April 14, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018," said the city-based company in a regulatory filing on the BSE.
Infosys will work with the London-based steel and mining firm's European arm and share its best practice to optimise, stabilise and transform its IT landscape.
The transaction is expected to be completed in the fourth quarter of FY21, it added.
