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Mumbai: Infosys has vested employee stock options (ESOPs) of nearly Rs 40 crore to its top executives, including CEO Salil Parekh and COO Pravin Rao, a filing with US Securities and Exchange Commission (US SEC) showed on Wednesday. Parekh, who completed three years at the helm of Infosys in January and helped it return to growth mode, received shares worth Rs 4.33 crore while Rao got Rs 1.94 crore of stock. More than 30 executives, including CFO Nilanjan Roy, HR head Krishnamurthy Shankar, Presidents S. Ravi Kumar and Mohit Joshi also received shares of the company. In a separate regulatory filing, Janhavi Nilekani, the daughter of Infosys Chairman Nandan Nilekani and part of the promoter group, gifted 777,600 equity shares worth Rs 106 crore to Tanush Nilekani Chandra, her son. ....
A $500 million deal with search-engine giant Google has once again brought the limelight back on Infosys, strengthening the belief that large deal momentum continues to be strong for this Indian IT bellwether, which could translate into a windfall for its shareholders. A report in the Economic Times stated that Infosys has won a $500 million deal from Google to provide customer experience and engineering support for its product. Following the development, the stock was trading up by 0.61 per cent at Rs 1,351.70 on the NSE on Thursday. The stock, however, has lagged benchmark Nifty on a year-to-date basis as it added 7 per cent against a 9 per cent rise in the Nifty50. The underperformance could soon come to an end, believe analysts, who eye an up to 35 per cent upside in the stock from current levels. ....
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Infosys US Subsidiary Buys Underwriting Platform from STEP Solutions; Stock Edges Lower Infosys US Subsidiary Buys Underwriting Platform from STEP Solutions; Stock Edges Lower The powerful rule-driven new business and automated underwriting platform from STEP will help Infosys McCamish in enhancing its industry-leading VPAS policy administration platform, Infosys said Updated: February 17, 2021 10:22 am IST At 10:10 am, the shares of Infosys had edged lower by 0.4 per cent to Rs 1,283.90 Infosys McCamish Systems, a US-based subsidiary of Infosys BPM, has bought the business and underwriting platform from STEP Solutions Group. STEP Solutions Group LLC is an affiliate of the Dillon Kane Group LLC based in Chicago. The financial details of the transaction have not been disclosed. ....