Technology Sector

Two smartphones named after Narendra Modi

Two smartphones named after Narendra Modi

A Gujarat-based group has launched two mobile phones named after BJP prime minister candidate and Gujarat CM Narendra Modi, dubbed SmartNamo Saffron One and SmartNamo Saffron Two. Namo is the short form for Narendra Modi.

Available at e-commerce portal Snapdeal, SmartNamo Saffron One comes in 16GB and 32GB versions with a price tag of Rs 18,000 and Rs 23,000, respectively.

Twitter IPO will help investors get back money they invested so far

Twitter IPO will help investors get back money they invested so far

Twitter's planned IPO (initial public offering) will allow the folks behind the micro-blogging site to get back some of the money they have so far invested in the company and also provide them with extra funds to invest in new projects, a social media expert said.

The micro-blogging site on Thursday announced that it had confidentially submitted an S-1 document to the SEC for a planned IPO of its stock.

Ex-Infosys executive Ashok Vemuri joins iGate Corp

Ex-Infosys executive Ashok Vemuri joins iGate Corp

Ashok Vemuri, who recently resigned as the Americas head & global manufacturing chief at Indian software firm Infosys Ltd, has joined rival IT outsourcing firm iGate Corp as CEO.

Confirming Vemuri's appointment as CEO, NASDAQ-listed iGate Corp. also announced that the ex-Infosys executive would also join iGate's board.

Sunil Wadhwani, co-founder of iGate, said, "He is a talented and established leader, and the board has great confidence in his ability to drive iGate to continued growth into the future."

Infosys top management exodus continues

Infosys top management exodus continues

Indian software services provider Infosys' Americas head and global manufacturing chief Askok Vemuri's resignation has provided a strong indication that the sequence of high-profile exits at the company is still going on.

Vemuri's sudden exit surprised industry watchers as he was widely considered a contender to succeed the company's chief executive officer S. D. Shibulal, whose term is scheduled to end in mid-2015.

RIL’s data-focused network will face many challenges

RIL’s data-focused network will face many challenges

Reliance Industries Ltd (RIL) Chairman Mukesh Ambani is betting big on 4G broadband with a hope that his huge investments in the field would transform the way people use mobile devices for activities ranging from watching a video to do online banking. But, many analysts are of the view that the company would have to face several serious technology challenges on the path.

Infosys shares jump on pay hike announcement

Infosys shares jump on pay hike announcement

Infosys shares jumped in early trade on Friday, a day after the Indian software firm announced pay hikes for its all eligible domestic as well as overseas employees.

On Thursday, the country’s second-largest software services provider announced that it would hike salaries by an average of 8 per cent for Indian staff and by 3 per cent for overseas staff.

In response, Infosys stock jumped 0.35 per cent to Rs 2,387.60 a share as of 09.20 am on the Bombay Stock Exchange (BSE), while the broader BSE information technology benchmark slipped into the red.

TCS CEO Chandrasekaran gets 50% pay hike

TCS CEO Chandrasekaran gets 50% pay hike

Tata Consultancy Services (TCS) CEO and managing director N Chandrasekaran has been given a 50 per cent increase in salary, subject to shareholders’ approval.

TCS, India’s biggest software firm, on Wednesday announced that Mr. Chandrasekaran’s salary had been increased by 50 per cent to Rs 15 lakh a month, effective from April 2014.

Announcing the decision, the company said in a statement, "The Board has revised the maximum limit of salary of N Chandrasekaran from Rs. 10 lakh per month to Rs. 15 lakh per month, with effect from April 1, 2014.”

Cognizant scores highest revenue growth rate among top five Indian IT firms

Cognizant scores highest revenue growth rate among top five Indian IT firms

NASDAQ-listed Indian information technology (IT) services provider Cognizant scored the highest growth rate of 20.1 per cent in revenues among the top five Indian IT firms during the last fiscal, as per global research firm Gartner.

Gartner said that Cognizant grew the most and displaced Infosys to become the second-biggest Indian IT firm in the United States last year.

iGate CEO Phaneesh Murthy sacked following sexual harassment probe

iGate CEO Phaneesh Murthy sacked following sexual harassment probe

NASDAQ-listed software services firm iGate has sacked its president & CEO Phaneesh Murthy following a probe into a claim of sexual harassment.

Announcing Murthy’s dismissal, the company said, “The investigation, which is ongoing, has reached the finding that Mr. Murthy's failure to report this relationship violated iGate's policy, as well as Mr. Murthy's employment contract.”

Security breaches at Indian IT companies are rare: NASSC

Security breaches at Indian IT companies are rare: NASSC

The National Association of Software & Services Companies (NASSC), the IT industry lobby group, has argued that security breaches at Indian payment card processing companies are rare.

Many foreign companies as well as security analysts retriggered concerns over the risks of outsourcing financial services to Indian companies after the recent breach of security at two payment card processing firms in India.

A few days back, U. S. prosecutors said a gang of cyber criminals stole nearly $45 million from two Middle Eastern banks by breaking into India-based two card processing companies.