The top four IT firms — TCS, Infosys, HCL Tech, Wipro — plan to hire 91,000 freshers for 2021-22 as the demand has sharply picked up. TCS will hire about 40,000 freshers, Infosys would hire 24,000 college graduates. HCL aims to hire 15,000 freshers in India and 1,500-2,000 people on-site. Infosys, recently, won a $3.2bn deal from German auto major Daimler. TCS locked a deal from Prudential Financial. Wipro signed German retailer Metro.
Infosys’ JV partner in Saudi Arabia has filed a lawsuit in a USA court alleging that it violated US law on corruption. Saudi Prerogative Company said Infosys had violated the Racketeer Influenced and Corrupt Organizations Act and alleged that Infosys falsely claimed that it didn’t make money from certain contracts and requested it to reduce or wave-off its 8% commission. The Saudi firm claimed that Infosys had made substantial money on the same contracts.
TCS became the second Indian firm to hit a market capitalisation of Rs 11 lakh cr on Monday. Its market capitalisation is more than 2X than Infosys as it stock hit an all-time high of Rs 2949.9 on the day. The company was listed on Aug 2004 at a market capitalisation of Rs 47,200 cr took two years to touch the Rs 1 lakh cr mark in Sept 2006, 10 yrs to reach Rs 5 lakh cr market-cap in July 2014 and 16 yrs to reach Rs 10 lakh cr on October 5, 2020.
Infosys, in a landmark deal, has won the largest deal ever from German automotive major Daimler, estimated at around $3.2 bn and spread over eight years. The deal involves transformation of IT infrastructure and moving to a hybrid cloud. It will help Infosys to boost presence in the automotive sector and will let Daimler focus on core capabilities i.e engineering, digital. The deal also involves 600 Daimler people transferring to Infosys.
Infosys has signed a strategic agreement with Rolls-Royce for providing engineering and R&D services for the later’s civil aerospace business. Rolls-Royce, as part of the agreement, will transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to Infosys. Infosys, on its part, will provide a range of high-end engineering and R&D services integrated with advanced digital service to Rolls-Royce.
Infosys is the front-runner for a multi-year $1.3 bn outsourcing deal from German automotive major Daimler. The contract besides being focused on infrastructure management services, networks, data centres also involves over 600 Daimler employees transferring to Infosys. Daimler’s restructuring plan included cutting its workforce by over 10,000 to slash $1.6 bn off spending by 2022. Infosys is already a strategic partner for Daimler’s European data centres.
Infosys and men’s professional tennis governing body ATP has renewed partnership for another three years. As ATPs Global Technology Services Partner and Digital Innovation Partner, Infosys will leverage AI, Data Analytics, and Cloud to develop and innovate a dedicated digital tennis platform to deliver quality experiences for players, media, and fans. Infosys had developed ATP’s critical digital assets and infra — PlayerZone, Stats Leaderboards, Second Screen, the ATP app etc.
Infosys has partnered with the Ellen MacArthur Foundation charity to accelerate the global transition to a circular economy. The Foundation works with its network of Strategic Partners, Partners, and Members. Infosys has joined the Network as a Partner. The Network includes the world’s leading businesses, governments, educators, innovators, and investors, to drive systemic change.