Infosys stock slumps 5% most since August 21, 2017; NSE IT index falls 1%

Wipro, TCS and HCL Technologies ended with gains of more than half a per cent

 

 

Share Market News » Infosys shares fell 4.55 per cent on Thursday, the most since August 21, 2017. The stock ended at Rs 1,284 after climbing to a lifetime high of Rs 1,354 on Tuesday.
 
The stock is still up 24 per cent this year. In comparison, the benchmark Nifty has gained two per cent and the Nifty IT index, a gauge for the performance of technology stocks, has gained 20 per cent in 2018.

The NSE IT index on Thursday fell just 1.1 per cent as other heavyweights Wipro, TCS and HCL Technologies ended with gains of more than half a per cent amid the rupee closing at a new low of 68.94 against the dollar.

The exact reason for the sell-off in the stock, which caused a market cap erosion of Rs 131 billion, was not evident.

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About Infosys Limited - Company History

Infosys Ltd is a global technology services firm that defines designs and delivers information technology (IT)-enabled business solutions to their clients. The company provides end-to-end business solutions that leverage technology for their clients including technical consulting design development product engineering maintenance systems integration package-enabled consulting and implementation and infrastructure management services. The company also provides software products to the banking industry.

They have developed Finacle a universal banking solution to large and medium size banks across India and overseas. Infosys BPO is a majority owned subsidiary. Through Infosys BPO the company provides business process management services such as offsite customer relationship management finance and accounting and administration and sales order processing. The company is having marketing and technical alliance with FileNet IBM Intel Microsoft Oracle and System Application Products. Infosys Ltd is a public limited and India's second largest software exporter company was incorporated in the year 1981 as Infosys Consultants Pvt Ltd by Mr.N.R.Narayana Murthy at Karnataka.

The company was started by seven people with the investment of USD 250. The company became a public limited company in the year 1992. The company was the first Indian company to be listed on the NASDAQ in the year 1999. Infosys also forms a part of the NASDAQ-100 index. Continuously in the year 2001 2002 and 2003 the company wins the National award for excellence in corporate governance conferred by the Government of India. 

News Source : BS

GPS chips and radioactive ink in new notes: Top 10 fake news in 2016

Along with India's national anthem being declared the 'Best National Anthem In The World'

Breaking News - From currency to salt–very little escaped the reach of fake news in 2016. Rumours spread from WhatsApp and other social media into the mainstream media. Institutions such as the United Nations Educational, Scientific and Cultural Organization (UNESCO), and the Reserve Bank of India (RBI) had to step in and tell us what was true. Even Facebook and Google, two of the world’s biggest Internet companies, sat up and took notice.

Such news can have widespread reach: India is one of the biggest markets for several social media and communication companies–it has 160 million of WhatsApp’s one billion-plus monthly active users, 148 million Facebook users, and over 22 million Twitter accounts.

Here are some of the most popular Indian fake news stories of 2016:

1. UNESCO declares PM Modi best Prime Minister

2. UNESCO declares Jana Gana Mana best national anthem

3. UNESCO declares new Rs 2,000 note best currency in the world

4. New notes have a GPS chip to detect black money

5. New notes have radioactive ink

6. WhatsApp profile pictures can be used by ISIS for terror activities

7. RBI declares the Rs 10 coin invalid

8. Jayalalithaa’s ‘secret daughter’ and heir lives in the US

9. Salt shortage in India

10. “Nehru Govt has stood like a Banyan Tree”: Mark Tully

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