India’s top two software services companies each added more employees on a net basis in the January to March quarter than they often have in past full years. Ironically, the employee churn numbers are also at their highest ever.
Tech Mahindra, Infosys, Wipro, Bajaj Finance, HCL Tech, Housing Development Finance Corporation (HDFC), Titan Company, Dr Reddy’s. Reliance Industries Ltd, Bharti Airtel were all top Sensex draggers.
Wipro Ltd. shares rose as much as 7.6% to Rs 723.9 in early trade, before paring gains, as brokerages raised their target prices after the company’s September quarter earnings beat estimates.
Infosys: The Schall Law Firm, a shareholder rights litigation firm based in Los Angeles has announced the filing of a class action lawsuit against Infosys Limited. It alleged that Infosys made false and misleading statements to the market and used improper recognition of revenue to boost short-term profits.
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Infosys Q2 Earnings Today : Five Things to Watch out For — The second largest IT player by revenue, will report its second quarter results on Tuesday. All eyes will be on any revision in revenue growth guidance for FY19, outlook on BFSI space, performance of digital vertical and upward estimate in margins, if any, in the wake of rupee depreciation.