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<ul><li>Shares of <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> plunged as much as 9% today on lower than expected March quarter earnings.</li><li>Analysts have cut down company estimates as the profit margin of the company remains under pressure due to cost pressures led by higher employee costs and a rise in travel costs.</li><li>As a result, shares of other information technology firms also fell today in an already weak market.</li></ul>IT giant Infosys disappointed investors as the stock of the company plunged nearly 9% on poor Jan-Mar quarter earnings.<br /><br />Stable deal wins and lower than the expected profit margin of the company due to cost pressures led by higher employee costs and rise in travel costs among concerns that impacted Infosys stock. <br /><br />Infosys ADR stock, which trades on the US stock market, slipped 14% in previous 5 sessions because of weak earnings at a time when Indian markets were closed due to holidays. <br /><br />“Infosys' 4Q (March quarter) results missed estimates mainly due to muted growth of 1.2% on quarter constant currency. However, its 13-15% revenue growth guidance for FY23 and all-time high net additions reflect a strong demand outlook,” said analysts at Jefferies. <br /><br />After considering the seasonal weakness in the Jan-Mar quarter, Infosys result was still disappointing. “Infosys' growth in 4Q disappointed even considering the seasonal weakness. Muted growth in its top-2 verticals (BFSI and Retail) and top markets (North America and Europe) and a sharp decline in Life Sciences vertical possibly due to one-off contractual issues resulted in the subdued growth performance,” said a report by Jefferies. <br />                    <div type="image" title="infosys 2" height="900" width="1200" msid="90906620" hostid="261"></div><br />Besides, Infosys’ attrition worsened more in the March quarter reaching at 27.7% from 25.5% in the previous quarter. The IT major’s attrition rate is worse in the industry compared to other Indian peers, even more than <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>’ attrition rate of 17.4% in the same quarter.<br /><br />Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1.<br /><br />The market capitalisation of the top company fell to ₹6.8 lakh crore from ₹7 lakh crore last week. <br />                <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div><br />Moreover, analysts expect the share price of the company to rise more as the demand outlook for the future remains strong. As of 11:27 p.m. shares of the company stand at ₹1,621 per share, down by 7.29%.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage house<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,970 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,040 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,135 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,050 <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/extreme-poverty-in-india-declined-12-in-the-last-decade-says-world-bank/articleshow/90905593.cms">Extreme Poverty in India declined 12% in the last decade, says World Bank</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/exim-bank-recruitment-2022-checkout-vacancies-eligibility-criteria-and-other-details/articleshow/90904895.cms">Exim Bank recruitment 2022: Checkout vacancies, eligibility criteria and other details</a>

Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

<br />
 <br /> In <keyword id="6369763" type="PERSON" weightage="100" keywordseo="Vishal-Sikka">Vishal Sikka</keyword>’s leadership, <a href="http://www.businessinsider.in/articleshow/52202635.cms">Infosys</a> is doing one wonder after another. After it snatched away the bellwether tag from <a href="http://www.businessinsider.in/Indian-IT-firms-huge-bids/articleshow/51995134.cms">TCS</a> after a gap of four years, it is now going to do what nobody in the IT industry would have thought: replacing Cognizant to become number one.<br />
<br />
The 35-year old IT giant came to the number one position in the IT space within just 21 months of <a href="http://www.businessinsider.in/Here-is-how-Vishal-Sikka-has-become-the-man-Infosys-always-wanted/articleshow/51454896.cms">Sikka taking the charge</a>, but looks like the man is on some mission.<br />
Also read: <a href="http://www.businessinsider.in/Infosys-growth-story-is-unstoppable-and-it-may-become-a-20-billion-company-by-2020/articleshow/51252593.cms">Infosys’ growth story is unstoppable and it may become a $20 billion company by 2020</a><br />
<br />
In addition to his achievements, one might also see that Cognizant's first quarter results were <a href="http://www.businessinsider.in/First-time-in-14-yrs-Cognizant-posts-slowest-quarter-due-to-volatile-markets-slow-spending/articleshow/52154916.cms">not that great</a>, with the company reporting its slowest quarterly revenue growth in 14 years at 10%.<br />
<br /> This was the right strike time for <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>, which has pinned a revenue growth of 11.8-13.8% in constant currency terms for FY 2016-17. This way, it aims to beat Cognizant in revenue growth for the first time in 13 years and only the fifth time since 1996.<br />
<br />
If that happens, Infosys will become the fastest growing IT services company in the world, ahead of its bigger rivals like TCS and Cognizant.<br />
<br />
When talking of stock performance, Infosys has left Cognizant far behind, with its American depository receipt (ADR) growing 18% in the past 12 months on the NYSE. On the other hand, Cognizant has seen a mere 2.4% rise on the NASDAQ.<br />
<br />
"Over the years what has happened is that Cognizant growth rate is coming down from what it used to be a couple of years back. Earlier it used to be a good leading indicator. But as we have seen, the industry growth rate has been coming off over the years and the growth differential between Cognizant and performing leading Indian IT companies has reduced," Systematix VP Rahul Jain told ET.<br />
<br />
"To take a clear view of how the growth looks up for other Indian vendors compared with Cognizant, that comparison is becoming less and less relevant," he added.<br />
<br />
<a href="https://qzprod.files.wordpress.com/2015/07/rtr4kqhe.jpg?quality=80&amp;strip=all&amp;w=1600"><em>Image source</em></a><br />

Infosys might soon replace Cognizant to become the industry leader

New Delhi, Feb 27 () IT services major Infosys on Thursday said it has allotted 2.23 lakh equity shares under its 2015 Stock Incentive Compensation Plan to the CEO, COO and other eligible employees.<p> It further said the issued and subscribed share capital of the company has consequently "increased to Rs 21,29,44,27,185, divided into 4,25,88,85,437 equity shares of Rs 5 each".</p><p> In a regulatory filing, Infosys said it "has allotted 2,23,297 equity shares under the 2015 Stock Incentive Compensation Plan to the eligible employees of the company on February 26, 2020, pursuant to the exercise of Restricted Stock Units under ADR Issue."</p><p> Infosys, on Wednesday, had informed the stock exchanges that it has granted stock incentives worth Rs 3.25 crore to CEO Salil Parekh under the 2015 Incentive Compensation Plan.</p><p> The incentive had been offered in the form of Restricted Stock Units (RSUs) and they have a three-year equal vesting schedule, it had said.</p><p> "The date of grant for these stock incentive units is February 27, and the exercise price will be the par value of shares," it had said.</p> Also, COO UB Pravin Rao received 58,650 RSUs and five key managerial personnel (KMPs) will receive stock incentives of 3,53,270. Another 371 eligible employees were granted 14,87,150 RSUs under the same scheme. These shares will have four-year equal vesting period.  SR  ABM

Infosys allots 2.23 lakh equity shares under 2015 Stock Incentive Compensation Plan

<ul><li>Wipro announced seven major deal wins in the past 12 months in the more than $100 million category.</li><li>The IT services major also suggested that it is steady on the path of $10 billion annual revenue run rate.</li><li>Wipro also revealed that it now has the highest number of large clients yet.</li></ul>Wipro’s management guidance for the March quarter is that the revenue from its IT services business to grow 2-4%. That’s better than the 1.9% growth clocked in the December quarter.<br /><br />Since companies like Wipro, TCS, and Infosys export software, and earn in dollars, pounds or euros, they report growth in constant currency terms, which is adjusted for foreign exchange fluctuations.<br /><br />Wipro ADRs (American Depository Receipts) were down by 1.5% as of 5:30 p.m., today (January 12).<br /><br />In its exchange filing, <keyword id="597306" type="General" weightage="20" keywordseo="wipro-ceo" source="Orion">Wipro CEO</keyword> and Managing Director Thierry Delaporte said that the company added seven new customers, each bringing in revenues of over $100 million, in the past 12 months, the highest yet.<br /><br />“We are also excited to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will add to our capabilities significantly,” Delaporte added.<br /><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dec-21<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sept-21<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT services revenue<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.66 billion<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.61 billion<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,972 crore<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,997 crore<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1%<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><em>Source: Company reports, $ in constant currency terms</em><br /><br />The Bengaluru-based IT company reported a 29.6% growth in its revenue, year-on-year, while IT services margin remained strong at 17.6%.<br /><br />    <div type="image" title="Wipro IT services revenue $ CC - Q3 FY22." msid="88856195" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s IT services revenue over the past eight quarters&amp;lt;/p&amp;gt;"></div><br /><cmsannotation type="cmsannotation" annotationid="New large deals in the quarter – from healthcare to waste management and more" comment="subhead" text="New large deals in the quarter – from healthcare to waste management and more"><span data-til="noop">New large deals in the quarter – from healthcare to waste management and more</span></cmsannotation><br /><br />Wipro stated that it has signed new deals across various industries, including healthcare, waste management, manufacturing and more.<br /><br />In its IT services segment, Wipro signed up clients across healthcare, manufacturing, retail brokerage, and hospitality sectors, all of which are US-based.<br /><br />In its Digital services segment, the company signed up a Brazilian water and waste management company, apart from three other US-based clients to enhance their cloud security and digitisation programs.<br /><br />The company’s board has also declared an interim dividend of ₹1 per share.<br /><br /><cmsannotation type="cmsannotation" annotationid="Omicron forces Wipro to close its offices globally for the next four weeks" comment="subhead" text="Omicron forces Wipro to close its offices globally for the next four weeks"><span data-til="noop">Omicron forces Wipro to close its offices globally for the next four weeks</span></cmsannotation><br /><br />The relentless surge of the Omicron variant of Covid-19 has forced Wipro to close its offices globally for the next four weeks.<br /><br />The company CEO Delaporte stated that the return to offices would be re-calibrated based on the evolving situation of the pandemic.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/enterprise/news/infosys-saw-its-revenue-grow-by-7-in-q3-fy22/articleshow/88855661.cms"><strong>Infosys raises full year guidance after the best quarter in at least eight</strong></a><br />

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Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

Bhakti Makwana

Infosys might soon replace Cognizant to become the industry leader

BI India Bureau

Infosys allots 2.23 lakh equity shares under 2015 Stock Incentive Compensation Plan

PTI

Wipro CEO says dollar revenue will grow 2-4% in the next three months

Rounak Jain

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