Key Developments: Infosys Ltd (INFY.NS)
2,398.00INR
3:09pm IST
Rs0.40 (+0.02%)
Rs2,351.75
Rs2,400.00
Rs2,433.00
Rs2,390.25
606,945
1,372,842
Rs3,009.80
Rs2,060.55
Latest Key Developments (Source: Significant Developments)
Infosys Ltd To Appeal Against Tax Demand-Business Standard
Business Standard reported that Infosys Ltd would appeal against the notice of the income tax department demanding INR5.77 billion as outstanding dues for fiscal 2008-09. Admitting that it had also received an assessment order for fiscal 2009-10, demanding a net tax of INR5.77 billion, the Company said the assessment followed similar orders for fiscal 2007-08 and 2008-09 when tax benefits on income from onsite software development and revenue from SEZ (special economic zone) were not allowed. Full Article
Robinsons Bank of Philippines Selects Infosys Ltd's Finacle To Accelerate Their Technology Transformation
Infosys Ltd announced that Robinsons Bank, a growing commercial bank in the Philippines, has selected Infosys Finacle as its transformation partner to support its branch network expansion and business growth. With the new technology transformation program, Robinsons Bank will consolidate and connect the multiple existing systems in use at the bank, and aim to reduce cost of operations across all its branches. Full Article
Turkland Bank Deploys Infosys Ltd's Finacle
Turkland Bank and Infosys Ltd announced implementation of the Infosys Ltd's Finacle core banking, CRM and treasury solutions. Full Article
Infosys Ltd Announces Collaboration With SAP On Mobile Applications
Infosys Limited announced that it is collaborating with SAP on development of mobile applications for the retail industry. Specifically, Infosys has cooperated with SAP on development of the SAP Retail Execution mobile application version 3.0. The application powers work Infosys does for CPG companies, along with their merchandisers and promotions planners. Full Article
Golomt, Mongolia Selects Infosys Ltd's Finacle To Accelerate Growth
Golomt Bank announced that it has selected Infosys Ltd's Finacle to power its technology transformation. The bank is looking to adapt to a rapidly changing business environment in Central Asia and manage their expanding customer base. Finacle will modernize retail and commercial banking services across the bank’s 85 branches. The implementation will include Finacle core banking solution along with CRM, treasury, e-banking and mobile banking solutions. Full Article
Infosys Ltd Issues FY 2014 Revenue Guidance Below Analysts' Estimates; Recommends Final Dividend
Infosys Ltd announced that for fiscal 2014, it expects revenue to grow 6% to 10%. The Company reported revenue of $7.398 billion in fiscal 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues of $8.256 billion for fiscal 2014. The Company also announced that its Board of Directors recommended a final dividend of INR27 per share for fiscal 2013. The Register and Share Transfer Books of the Company will be closed from June 1, 2013 to June 15 2013 (both days inclusive). Full Article
RWE Supply & Trading Selects Infosys Ltd as its Transformation Partner
Infosys Ltd announced that it has signed an agreement with RWE Supply & Trading (RWEST), a European energy trading house, to provide technology services to transform its trading operations to create business efficiencies and drive growth from new markets and commodities. Central to the agreement is an Innovation and Gain-Share' model supported by a joint investment framework to identify and implement business and technology projects that will deliver measurable benefits to RWEST. Full Article
India Post Partners With Infosys Ltd For Rural Systems Integration
Infosys Ltd announced that the Company has been selected by India Post to implement and manage a platform that will transform its rural operations. With this new agreement, Infosys will facilitate India Post's Rural Systems Integration (RSI) program. As part of an earlier agreement, Infosys is also partnering with India Post to transform its financial services operations and experience under the Financial Services System Integration program. Infosys will develop a Service Delivery Platform (SDP) that will leverage Infosys solutions such as mConnect, TruSync and Finacle Inclusion. Full Article
Dentsu's Global Project Selects Infosys Ltd's Edge Platform
Infosys Ltd announced that Dentsu's Global Project team has selected Infosys Edge to deliver a single, unified platform for driving projects and campaigns spanning multiple countries and regions. Full Article
Infosys Ltd Wins Five-Year Contract from BMW Group-Indian Company News Bites
Indian Company News Bites reported that Infosys Ltd announced that it has been selected by BMW Group as its worldwide partner for application basis infrastructure management services. The five year engagement with Infosys will cover services such as maintenance and operations of the web infrastructure, content management, SAP Basis operations, IT for IT and the business intelligence systems of BMW Group. Financial terms were not disclosed. Full Article
MARKET EYE-Indian IT stocks gain; rupee falls seen helping sector
* Shares of Indian technology companies such as Infosys Ltd gain as recent falls in the rupee are making the sector more attractive and offsetting some of the worries over a pending U.S. immigration bill that sparked a selloff in the sector last month. * The rupee has fallen around 2.4 percent against the dollar so far this month. * Infosys is up 1.1 percent, while Tata Consultancy Services Ltd is 1.6 percent higher and HCL Technologies Ltd has gained 1.6 percent. * IT shares have rebounded
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