
Explain ‘non-compete’ clause: Govt to Infosys
The labour ministry invites Infosys to hold a joint discussion on the issue before the chief labour commissioner.
The labour ministry invites Infosys to hold a joint discussion on the issue before the chief labour commissioner.
Pune-based body of IT and BPO employees sends a letter to the Centre; seeks orders to be issued against Infosys to remove this "illegal and arbitrary" clause. Infosys says it's standard practice.
The BSE Sensex declined as much as 1,290 points to hit a low of 57,047 while the NSE Nifty fell as much as 347 points to 17,129.
The Sensex and Nifty are set to start the week on a bearish note, following weak cues from Asian peers and negative trends at SGX Nifty futures.
Digital now contributes nearly 60% to the company's revenues.
Both firms plan to go big on fresher hirings in this year as well. TCS says it has set a target of hiring 40,000 freshers this year, while Infosys CEO says 50,000 freshers will be recruited in FY23.
Jefferies has maintained a buy call on Infosys with a target at ₹2,135 per share, while ICICI Direct has given a buy call with a target price of ₹2,300.
The Sensex and Nifty are set to start the day on a muted note, following mixed cues from Asian peers and a negative finish at Wall Street overnight.
Q4 results: IT giants TCS, Infosys, and Wipro are expected to report moderate growth in revenue during the December quarter due to continued higher employee expenses.
The Sensex and Nifty are set for a cautious start on Monday, tracking mixed cues from Asian markets amid talks of fresh sanctions against Russia.