Tag: infosys
Infosys share price plunges 10%, Nifty IT index cracks over 4%;...
Infosys Share Price Dives 10%, Nifty IT Index Crumbles Over 4%: What Steps Should Investors Take with IT Stocks?
IT stocks, including Infosys, experienced a...
Infosys fires 600 freshers after they fail internal test
Infosys (an Indian IT giant), According to the latest news, has let go of hundreds of new hires who failed the internal fresher assessment...
Market benchmark Sensex rises over 250 pts; L&T, Axis Bank rally...
Market benchmark Sensex rose over 250 points on Thursday tracking gains in L&T, Axis Bank and Infosys, despite massive selloff in global equities.
PSU’s not complying with minimum public shareholding norms of 25% says...
In a recent Capital Market seminar organised by if Confederation of India Industry, SEBI chairman Ajay Tyagi said that of the total 91 listed government companies 45 of them do not comply with the minimum public shareholding norms, which is 25%.
He added that such public companies are required to come forward and comply with the norms, thereby increasing their public shareholding norms to at least 25%. Companies need to increase their liquidity and public listing to avoid any disputes in future.
He added, “This is something which can be done, and I think should be done. We have conveyed to the government also,”
Infosys hired PwC to investigate Whistle-blower Complaints
Bengaluru-based IT company, Infosys has hired PricewaterhouseCoopers (PwC) which is one of the most prominent auditing firm and part of Big 4 to look after the alleged financial discrepancies and malpractices allegations made by the Whistleblowers.
The company has already hired Shardul Amarchand Mangaldas (SAM), Tier-1 law firm to look after the legal side of the complaint of the Whistleblowers. Additionally, companies’ internal auditor Ernest & Young (Big 4) will also review its revenue recognition practices.
The decision to take PwC on board was to have an investigation which will be independent of SAM and E&Y so that the companies has a fresh set of people who can look into the matter.
Infosys: For the first time in 6.5 years, 16 per cent...
The company's stock fell nearly six-and-a-half years low due to allegations of exaggerating revenue and profits on the CEO and CFO of Infosys, the country's second largest information technology company. Infosys shares weakened by about 16.21 per cent to Rs 643.30. This is the biggest drop in the stock since April 2013. This led to a loss of about 55 thousand crores in the market capital of the company.
