Friday, 9 January 2015

Infosys to give 100% bonus to employees

Infosys said that it would pay out 100% variable bonus to employees for the quarter ended December. As part of it's strategy to boost employee morale, the company is also gifting Apple's latest iPhone 6 to 3,000 top performers across geographies and job roles.

IT stocks lead after Infosys announces results

Infosys rose 3.77% to Rs 2,049.36 after the company retained its revenue guidance for the fiscal year ending March 2015. In a press release, Infosys said that the company has maintained its guidance of 7%-9% growth in revenue in dollar terms for the year ending March 2015 (FY 2015) based on exchange rates as on 30 September 2014. Due to cross currency headwinds, analysts were expecting Infosys' management to prune the company's revenue growth guidance in dollar terms for FY 2015 at the time of announcement of Q3 results today, 9 January 2015.
At the time of announcement of Q2 September 2014 results, Infosys had on 10 October 2014 retained its earlier guidance of 7% to 9% growth in revenue in dollar terms for FY 2015. At that time, the company had raised its revenue growth guidance in rupee terms due to rupee depreciation. The company had raised the revenue growth guidance for FY 2015 in rupee terms to 6.7%-8.7% from earlier 5.6%-7.6% at that time. The revised guidance was based on rupee dollar conversion rate of 61.
On a consolidated basis, Infosys' net profit as per International Financial Reporting Standards (IFRS) rose 5% to Rs 3250 crore on 3.4% rise in revenue to Rs 13796 crore in Q3 December 2014 over Q2 September 2014.
Infosys and its subsidiaries added 59 clients (gross) in Q3 December 2014. It made a gross addition of 13,154 employees during the quarter. Infosys and its subsidiaries reported 1.69 lakh employees as on 31 December 2014.
Liquid assets including cash and cash equivalents, available-for-sale financial assets, certificates of deposits and government bonds were Rs 34873 crore as on 31 December 2014 as compared to Rs 33616 crore as on 30 September 2014.
Shares of other IT stocks also gained after Infosys announced its Q3 results. TCS (up 2.6%), HCL Technologies (up 0.98%) and Wipro (up 1.48%) gained.
Tech Mahindra jumped 5.85%. Tech Mahindra said during market hours that it has signed a definitive agreement to acquire SOFGEN Holdings (SOFGEN), a niche consulting and services with worldwide presence specialising in private/wealth, commercial and retail banking solutions. The transaction is expected to close by March 2015, subject to regulatory approvals. SOFGEN has 450+ employees with 20+ tier 1 client relationships.

Infosys jumps after retaining revenue guidance for FY 2015

Trading in the stock was volatile. The stock rose 6.76% at the day's high of Rs 2,108 so far during the day. The stock fell 3.06% at the day's low of Rs 1,914.10 so far during the day. The stock hit a 52-week high of Rs 2,200.50 on 1 December 2014. The stock hit a 52-week low of Rs 1,447 on 30 May 2014.

The stock had outperformed the market over the past one month rising 0.30% and also  in the past one quarter, rising 8.19%. On a consolidated basis, Infosys' net profit as per International Financial Reporting Standards (IFRS) rose 4.97% to Rs 3250 crore on 3.40% rise in revenue to Rs 13,796 crore in Q3 December 2014 over Q2 September 2014. The result was announced during trading hours today, 9 January 2015. Liquid assets including cash and cash equivalents, available-for-sale financial assets, certificates of deposits and government bonds were Rs 34873 crore as on 31 December 2014 as compared to Rs 33616 crore as on 30 September 2014.

Infosys and its subsidiaries added 59 clients (gross) in Q3 December 2014. It made a gross addition of 13,154 employees during the quarter. Infosys and its subsidiaries reported 1.69 lakh employees as on 31 December 2014.
Infosys said that the company has maintained its guidance of 7%-9% growth in revenue in dollar terms for the year ending March 2015 (FY 2015) based on exchange rates as on 30 September 2014. Due to cross currency headwinds, the markets were expecting Infosys' management to prune the company's revenue growth guidance in dollar terms for FY 2015 at the time of announcement of Q3 results today, 9 January 2015.

Dr. Vishal Sikka, CEO and Managing Director, said that the company was excited by its several breakthrough results in Q3 and the 'renew and new' strategy, was being received well by clients and the ecosystem and the company was already seeing its early adoption. Based on strong performance, the company is intensifying its efforts to deepen and strengthen employee engagement, client ecosystem and the educational foundation of education to build a next generation services company that innovates for consistent profitable growth, he said.

During the quarter, the company saw broad-based volume growth, increased utilization and strong client additions, said U. B. Pravin Rao, Chief Operating Officer. Infosys has made 100% variable payout for Q3 and have seen a further decline in attrition as a result of multiple initiatives taken over the last few quarters, he said

Sequential revenue growth in Q3 was adversely impacted to the extent of 1.8% due to USD appreciation against other major currencies, said Rajiv Bansal, Chief Financial Officer. Infosys made required investments keeping in mind short-term priorities and long-term aspirations, he said.

Infosys is a global leader in consulting, technology and outsourcing solutions having an equity capital of Rs 574.24 crore with a Face value of Rs 5 per share.

Infosys rises after good Q3 results

IT major and index heavyweight Infosys led a rebound in key benchmark indices in afternoon trade. Shares of Infosys surged after the company reported stronger-than-expected Q3 December 2014 results. The market breadth indicating the overall health of the market was negative. The CNX Nifty was up 26.55 points or 0.32% at 8,261.15. The index hit a low of 8,190.80 in intraday trade. The index hit a high of 8,303.30 in intraday trade, its highest level since 6 January 2015. Asian stocks were mixed.

Infosys jumps after Q3 results

The result was announced during trading hours today, 9 January 2015. Trading in the stock was volatile. The stock rose 5.67% at the day's high of Rs 2,086.50 so far during the day. The stock fell 3.06% at the day's low of Rs 1914.10 so far during the day.
The stock hit a 52-week high of Rs 2,200.50 on 1 December 2014. The stock hit a 52-week low of Rs 1,447 on 30 May 2014.
The stock had outperformed the market over the past one month till 8 January 2015, rising 0.30% and in the past one quarter, rising 8.19%.
The large-cap company has an equity capital of Rs 574.24 crore. Face value per share is Rs 5.
Infosys retained its earlier guidance of 7% to 9% growth in revenue in dollar terms for the financial year ending March 2015 (FY 2015) at 30 September 2014 exchange rates.
Liquid assets including cash and cash equivalents, available-for-sale financial assets, certificates of deposits and government bonds were Rs 34873 crore as on 31 December 2014 as compared to Rs 33616 crore as on 30 September 2014.
Infosys is a global leader in consulting, technology and outsourcing solutions.

Infosys maintains guidance, a BIG positive

Infosys Ltd maintained dollar revenue guidance of 7 to 9%. Infosys volume growth stood at 4.2%.

The company has posted a net profit of Rs. 32500 million for the quarter ended December 31, 2014 as compared to Rs. 28750 million for the quarter ended December 31, 2013. 
Total Income has increased from Rs. 137570 million for the quarter ended December 31, 2013 to Rs. 146360 million for the quarter ended December 31, 2014.

Infosys stock up 5% post Q3 Reults

Infosys Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 09, 2015, inter alia, has transacted the following business:

Approved the Notice of Postal Ballot for seeking shareholders’ approval pertaining to appointment of Prof. Jeffrey Lehman and Prof. John Etchemendy as independent Directors.

The Company had on August 21, 2014 made a grant of 22,794 restricted stock units to Dr. Vishal Sikka, Chief Executive Officer and Managing Director. However, Dr. Sikka, as of that date, was eligible to receive 27,067 RSUs. The Company has on January 09, 2015 corrected the error by granting the differential RSUs. 

The stock after a positive start had tumbled over 4 per cent from the morning highs of Rs. 1,997 to a low of Rs. 1,914 on anxiousness ahead of the earnings announcement. However, the stock soon recouped losses and soared to a high of Rs. 2,040 - up 8.2 per cent from the day's low after the company announced its Q3 numbers. The stock is now trading at the day's high, up nearly 5 per cent at RS. 2,070.