Infosys CEO Vishal Sikka reportedly said while Infosys does not make such investments with every large deal, some deals might require such payments.
Infosys and Wipro are planning to make large upfront payments while bidding for large deals that offer assured revenues, according to reports.
Report says that this move comes at a time when India's $160-billion IT industry faces its slowest revenue growth.
Report says that this move comes at a time when India's $160-billion IT industry faces its slowest revenue growth.
Infosys CEO Vishal Sikka reportedly said while Infosys does not make such investments with every large deal, some deals might require such payments.
Infosys Ltd ended at Rs. 1217.05, up by Rs. 3.2 or 0.26% from its previous closing of Rs. 1213.85 on the BSE.
The scrip opened at Rs. 1214 and touched a high and low of Rs. 1224.45 and Rs. 1201.05 respectively. A total of 2811300(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 279549.65 crore.
The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 1267.9 on 18-Apr-2016 and a 52 week low of Rs. 932.55 on 10-Jul-2015. Last one week high and low of the scrip stood at Rs. 1250 and Rs. 1201.05 respectively.
The promoters holding in the company stood at 12.75 % while Institutions and Non-Institutions held 57.69 % and 29.07 % respectively.
The stock traded above its 50 DMA.
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