Information Tech (IT)
Wipro merges two North American subsidiaries, liquidates Australian unit
Wipro merged its subsidiaries Designit North America and Wipro Designit Services, effective July 1st. In a separate move, they deregistered another step-down subsidiary Attune Australia Pty Ltd on June 26.
Infosys hunts for talent among women professionals out on a career break
The women should meet two criteria, they should have work experience of at least two years before taking the break and should have had a break of six months. Shaji Mathew, group head of HR at Infosys, said the company has crafted a strategic approach to support women in managing the diverse personal and professional challenges they encounter throughout their careers.
Infosys settles insider trading charges with Sebi, agrees to pay Rs 25 lakh fine
Parekh agreed to pay Rs 25 lakh (around $30,000) for failing to have adequate controls to prevent insider trading, the Securities and Exchange Board of India said. The regulator did not provide details on this information but held Parekh responsible for what it saw as a failure in internal controls to prevent insider trading in that transaction.
IT firms chasing acquisitions to enhance their topline and skills
Indian information technology (IT) services are banking on acquisitions to fuel growth amid a dire need for investments in new capabilities, especially GenAI, as a slowdown in global demand keeps away opportunities for organic expansion.
Infosys working on 225 GenAI programs for clients; enterprise AI will take years to unfold: Nilekani
At Infosys' 43rd annual general meeting, cofounder and chairman Nandan Nilekani talked of the nascent stage of the Generative AI revolution. He also said consumer AI will see rapid adoption but enterprise AI will take several years to mature and have a widespread impact.
LTIMindtree chairman A M Naik steps down; S N Subrahmanyan appointed as chairman
Stepping down as LTIMindtree chairman, I pass the baton to S N Subrahmanyan at the 28th AGM. The Board appointed Subrahmanyan, noting my privilege in leading this great organisation and laying the foundation for its future growth.
Infosys unit faces another suit in US over 2023 cyberattack
Infosys faces multiple lawsuits over a cyberattack on its US subsidiary, leading to data breaches and legal actions from various parties, including eDiscovery vendors and financial information exposure.
Crorepati club at Infosys, Wipro shrinks post Covid-19
Infosys and Wipro, major players in the IT industry, have witnessed a significant decrease in the number of employees with annual compensation exceeding Rs 1 crore over the past two fiscal years. India’s IT company exporter TCS and third-largest HCLTech do not disclose the number of employees who are paid upwards of a crore.
CCI approves IT services firm Coforge’s stake purchase in Cigniti
The Competition Commission of India (CCI) gave its stamp of approval on Tuesday for IT services firm Coforge to acquire a controlling stake in Cigniti Technologies.
Under Pallia’s leadership, we are in for a bright future together: Wipro chairman
Wipro chairman Rishad Premji expresses confidence in new CEO Srini Pallia's leadership, foreseeing a bright future for the IT services company under Pallia's guidance.
