Infosys ADR issue only in 2005-06

The proposed sponsored secondary American depositary receipts issue of Infosys Technologies Ltd is likely only in the next financial year after the company details its guidance for 2005-06.

The company has not decided on the date for the offering yet. Also, Infosys has not yet decided on the timing of the road shows for the issue.

FMR increases stake in Infosys

Fidelity Management and Research Corporation (FMR) increased its stake in Infosys Technologies to over five per cent recently.

Fidelity Investments, a subsidiary of FMR Corp, is one of the key clients of Infosys.

FMR, which held 27,26,725 shares amounting to 1.01 per cent of Infosys' total equity at the end of December 31, 2004, has acquired an additional 1.24 crore shares from the open market recently.

This increases FMR's holdings in Infosys to 5.65 per cent of the company's equity.

ECGC to provide cover for Infosys’ China centre

Export Credit Guarantee Corporation of India (ECGC) will cover the software development center in China set up by Infosys Technologies Ltd under its overseas investment cover. This would protect losses to the tune of 90% due to expropriation, war damage or restrictions on remittances.

GAIL-Infosys to develop IT solutions

GAIL (India) Limited and Infosys Technologies Limited today announced that they have entered into a Memorandum of Understanding (MoU) to jointly develop IT solutions in the retail gas business.

The MoU was aimed at developing and commercialising software to manage retail natural gas business across all categories of customers worldwide.

Prime Minister Dr. Manmohan Singh Inaugurates Infosys' Global Education Centre in Mysore

Infosys today announced that Prime Minister of India, Dr. Manmohan Singh inaugurated its Global Education Centre in Mysore. The Education Centre, one of the largest of its kind in the world, will train technology professionals. Located in the 270-acre Infosys Mysore campus, the center can accommodate 4,500 trainees at any given time. Infosys' total investment commitment in the Mysore Centre is Rs. 520 crore (USD 119.3 million), of which Rs. 285 crore (USD 65.4 million) pertains to the Global Education Centre complex.

PM to inaugurate Infosys Centre on Feb12

Prime Minister Manmohan Singh will inaugurate the corporate training centre of software major Infosys Technologies in Mysore on February 12, the company said today.

Singh will also visit the Infosys Leadership Institute, which is located in the same campus in Mysore, it said in a statement here.

With the centre, Infosys will centralise its training faciity in Mysore and train over 12,000 fresh engineering graduates annually.

Infosys gears up for recruitment

Blueshift has implemented its recruitment product at Infosys to browse through an expected 2 million applications a year.

Receiving one million applications a year and recruiting 45 people a day can put the HR department of India's second largest employers of software professionals working over night. With the number of applications to the company expected to double up to two million, Infosys has selected Blueshift's Recruitment Management System (RMS).

Infosys to recruit 10,000 engineers

Software major Infosys will recruit 10,000 software engineers across the country this year, V Thothathri, associate vice-president, Infosys Technologies Limited, Chennai, has said.