Monday, 18 May 2015

Infosys committed to 100% renewable power

Climate Group today announced that one of India’s largest Information Technology corporations has become the first Indian company to join RE100, a global platform for major companies committed to 100% renewable power. Infosys, a leader in consulting, technology, outsourcing and next-generation services, with clients across 50 countries, has taken great strides during the past seven years to become sustainable in its operations. As part of its commitment to RE100, Infosys aims to become carbon neutral by 2018. The company is already working to reduce its per capita electricity consumption by 50 per cent from its 2007-2008 levels and source all its electricity from renewable resources by 2018. 

During fiscal year 2015, Infosys met 29 percent of its electricity needs - about 72.08 million units - for its locations across India through green power. During the same period, Infosys generated over 2911 MWh of electricity through its onsite solar PV installations across India. 

Infosys joins some of the world’s most influential companies such as IKEA, Swiss Re, BT, Formula E, H&M, KPN, Mars, NestlĂ©, Philips, among others, which are taking bold steps to create transformative change needed to drive a clean energy revolution. RE100 was launched at Climate Week NYC on September 22, 2014. Seventeen companies have now joined the campaign and made a public commitment to become 100% renewable, including founding members IKEA and Swiss Re. As the campaign spreads in India, it is expected that more Indian companies will switch to renewable power and demonstrate the huge opportunity that exists in India’s growing clean economy.

Will Infosys appoint R Seshasayee as interim Chairman?

A report said that the company is evaluating external and internal candidates to replace KV Kamath. His successor is expected to be finalised in 2-3 weeks, says report.

R. Seshasayee started his career with HLL (now Hindustan Unilever Ltd) in 1971. He joined Ashok Leyland Ltd. in 1976 and was appointed as Executive Director in 1983, Deputy Managing Director in 1993 and elevated as Managing Director in April 1998. He is presently the Executive Vice Chairman. He was the Chairman of the Board of Governors of National Institute of Technology Tiruchirapalli (NITT) and is presently Chairman of Indian Institute of Information Technology Design and Manufacturing (IIITD&M), Kancheepuram. Seshasayee has been a part of several professional committees such as the Accounting Standards Board and the Research Committees of the Institute of Chartered Accountants of India.

Seshasayee was also a director on the Boards of various companies, including ICICI Bank, E.I.D Parry (India) Ltd., etc. He is also associated with several charitable, educational, cultural and social welfare organizations, including the Cancer Institute, Chennai.

Saturday, 16 May 2015

Infosys to set up campus In Shanghai

Infosys is planning to invest $120 million dollars to set up a campus In Shanghai, as per reports.
A Memorandum of Understanding was signed between Infosys and the Chinese provincial government at the India-China Business Forum.
Its development centre, with a staff capacity of about 4,500 will help to focus on Chinese and global markets, Rangarajan Vellamore, CEO, Infosys China reported

Friday, 15 May 2015

Infosys gains after joining IIC

Infosys has joined the Industrial Internet Consortium (IIC), an open membership group established to improve the integration between the physical and the digital worlds and accelerate the adoption of Internet of Things. The goal of the consortium is to amplify the development and availability of connected, intelligent industrial automation. This announcement was made after market hours yesterday, 14 May 2015.

Infosys hit a high of Rs 1,959.50 and a low of Rs 1,935 so far during the day. The stock hit a record high of Rs 2,335.20 on 20 February 2015. The stock hit a 52-week low of Rs 1,447 on 30 May 2014.

As per International Financial Reporting Standards (IFRS), Infosys' consolidated net profit dropped 4.7% to Rs 3097 crore on 2.8% fall in revenues to Rs 13411 crore in Q4 March 2015 over Q3 December 2014. The consolidated net profit fell 4.6% to $498 million on 2.6% decline in revenues to $2159 million in Q4 March 2015 over Q3 December 2014.
Infosys is a global leader in consulting, technology and outsourcing solutions and has a equity capital of Rs 574.24 crore. Face value per share is Rs 5.

Thursday, 14 May 2015

Infosys joins the Industrial Internet Consortium

Infosys announced that it has joined the Industrial Internet Consortium (IIC), an open membership group established to improve the integration between the physical and the digital worlds and accelerate the adoption of Internet of Things. The goal of the Consortium is to amplify the development and availability of connected, intelligent industrial automation and make it a way of life.

Wednesday, 13 May 2015

Infosys stock flat on heavy volume

Shares of Infosys were trading flat at Rs. 1,957 today. Around 13.4 lakh shares were traded in a multiple block at Rs. 1,956.50. The stock opened at Rs. 1,954 as against the previous close of Rs. 1,950 with a high of Rs. 1,965 and a low of Rs. 1,940 today.

Tuesday, 12 May 2015

Infosys' US based subsidiary helps modernise L.A. Care's financial management

Infosys announced that its U.S. based subsidiary, Infosys Public Services has successfully implemented a premium billing and payments solution, Benaissance's Exchange Point financial management platform, for L.A. Care Health Plan, the largest publicly operated health plan in the U.S. serving more than than 1.6 million members. This solution will help improve access to health benefits for 24,000 members on its L.A. Care Covered plan offered through the Covered California health insurance marketplace.