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KARTHIKA 3 - Coggle Diagram
KARTHIKA 3
uncertainty,risk of second wave are challenges for IT sector: infy CEO parekh
- Infosys chief executive Salil Parekh the biggest challenge for the IT industry faces right now is the uncertainty around duration of the covid-19 pandemic and risk of second wave of infection and lockdown.
- Infosys chairman nandan nilekani said the it services company has pivoted its services to the needs of the new clients and strengthened its expertise in cloud
- it was not easy time for any company because of the pandemic chairman nandan nilekani said
- during the fiscal year 2020,revenue at the benguluru based company grew 9.8% in constant currency terms to $12.8 billion.
- during lockdown infosys enables over 93% that is 2,50,000 employees,across 46 countries,to work from home.
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- A decade after the Piramal group sold its domestic formulations business to US-based Abbott for $3.72 billion, it has again signed a large deal to unlock value in its existing business.
- . On Saturday, Piramal Enterprises (PEL) said USbased private equity player Carlyle was taking a 20 per cent stake in its pharma business at an enterprise value of $2.78 billion.
The group also plans to list its business arm, which has been spun off into a separate subsidiary, soon. Through this, Piramal is readying a ‘war chest’ for future strategic investments —both organic and inorganic.
- There is also an upside component built into the deal, which will depend on the profitability of the current year’s performance
- “We have an enterprise valuation $2.78 billion and there is an upside component (up to $360 million) built into it that will depend on the profitability of the current year's performance. The deal value could go up to $3.1 billion," chairman said
. 5. the funds could be used to lower debt from 4,200 crore (FY20) to 2,500 crore in FY21.We will list the pharma business in the near future.
Visa, WFH(work from home) dominate Infosys’ virtual AGM(annual general meeting)
- The annual meet saw some shareholders of the country’s second largest IT services company raising concerns over falling operating margins.
- But many congratulated the management for delivering good FY20 performance despite the tough economic conditions
- Shareholders wanted to know Whether WFH would be a permanent operating model.For this management said "Future of work will be a hybrid model with staffers working from both home and office".
- “We have more than 60 per cent of workers who are not dependent on visas in the US." said the management has the investors questioned about suspension of non-immigrant visas. infosys was not affected due to this suspension.
- Infosys’ chairman and cofounder Nandan Nilekani said the robust balance sheet, steady growth momentum and strong executive team put the company in good stead to overcome the crisis.
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- Indian stocks have an opportunity to outperform emerging markets as ample liquidity and strong sentiment favour more gains, according to Morgan Stanley India Co
- Given the sharp rally over the past few weeks, volatility will likely increase with the probability of a tradeable correction in stocks analysts said.
- We are a buyer of any such correction -- there is likely more upside on stocks in the coming months.
4.Gauges of mid- and small-cap stocks have climbed 36 per cent and 42 per cent from their March lows.
- The broker favours a barbell portfolio with a mix of quality companies at reasonable prices and stocks that are linked to macroeconomic changes. It is overweight consumer discretionary, health care and energy while underweight technology and staples