Karnataka expects IT exports from the state to touch Rs 1 lakh crore in the current financial year, a key official of the state government said today (Dec 12).

Karnataka recorded IT exports of about Rs 85,000 crore during the 2010-11 financial year.

There is scope for the company to improve its results. With the change in management the company has not deviated from expectations which gives hope that going forward over the next 2-3 quarters investors should keep track of the company and make informed decision rather than swaying with the volatile mood swings of the market

Information technology (IT) stocks had joined the recent rally with gusto, rising by up to 9% in the three weeks until last Friday, compared with a 7.7% rise in the broader markets. In the process, valuations of top-tier firms had risen to 21-23 times estimated March 2011 earnings, leaving little room for disappointment when they reported earnings for the June quarter.

Police arrested four people in connection with a job racket within the IT company - Wipro's campus in the silicon city - Bangalore.

The four accused - Rajiv Ranjan, Mohammed Azar, Sathya Priya and M N Naryanana, who all are reportedly pursuing their management courses and well-educated, hail from Bihar, Andhra Pradesh, Tamil Nadu and Kerala respectively.

In all the excitement about who will succeed NR Narayana Murthy as Chairman of Infosys, many of us forgot the bigger question – Who will succeed D Shibulal as the COO?

Whoever that person is – he will surely get to run Infosys as CEO and Managing Director when Shibulal retires from that post. In doing so, he or she (although the chances of it being a woman are next to impossible) will be the first non-founder to run Infosys.

Germany-based Semiconductor leader Infineon, is harnessing the talent in its Bangalore R&R centre to drive innovation in the areas of power infrastructure, transportation and card security. The Centre focuses mainly on automotive solutions and chip card methodology.

Andrew Chong, Regional President and Managing Director Infineon Technologies Asia Pacific, in India on a visit, told local media: "Our engineers in Bangalore perform application engineering mainly.for our transportation business – high and mid-range cars, especially inside the engine, with the exception of car entertainment devices, and even in bullet and metro trains. Additionally, the centre also provides valuable insights for our digital card security operations worldwide.”

Infosys Technologies Ltd , India's No. 2 software services exporter, is on the hunt for acquisitions in Europe and Japan and in industries including healthcare and public services, its chief executive said on Sunday.

Speaking to Reuters a day after the company announced changes in its top-level management, S Gopalakrishnan said Infosys was also seeking acquisitions in new areas like cloud computing.

In tandem with leadership succession plan and move to transform the company into a next- generation global player in IT arena, Infosys Technologies on Saturday, Apr 30 said it will be renamed as Infosys Ltd.

Co-Chairman-designate S Gopalakrishnan said that Infosys has a broad range of services all the way from consulting to business process outsourcing and the company's focus is to help clients achieve business results.

It is the end of an era, in India’s 30 year–old Infotech saga, as her most iconic company, Infosys, announces the retirement, come August 20, of charismatic co-founder-Chairman N.R. Narayana Murthy.

Another co-founder, S.D. Shibulal moves from COO to CEO and Managing Director; a third co-founder and current CEO-MD, S.“Kris” Gopalakrishnan becomes Co-Chairman of the Board and banking maestro, K.V. Kamath, the man credited with the phenomenal growth of ICICI Bank ( and the bank’s current non-Executive Chairman as well as a member of the Infosys Board) is brought in as the new Chairman. The new leadership will take over on August 21, a day after Murthy celebrates his 65th birthday and moves from active leadership to the honorific of Emeritus Chairman for life.

Tulip Telecom on Friday announced that it has chosen IT major IBM and data centre consultant Schnabel to establish a data centre in Bengaluru, which the company said will be India's [ Images ] largest and the world's third-largest data centre.

"We are extremely happy about our association with IBM and Schnabel for our fifth and the country's largest data centre set up," said Tulip Telecom CEO Sanjay Jain in a statement.

As Infosys, the Indian IT giant that has sort of pioneered the new face of Indian economy, braces up for a change of guard in the top brass of its administration, the company's board has passed on the baton from the legendary Narayan Murthy to K V Kamath, the former chief of ICICI bank.

On Saturday, Apr 30 the board directors of the IT giant met to decide and eventually declare the name of Kamath as its chairman.

India’s third largest information technology (IT) services company Wipro Ltd posted a 4.3% increase in profit for the March quarter from the preceding one, but muted guidance for the three-month period ending June (Q1) disappointed investors. The stock fell 2.86% to Rs450.75 on a day when the benchmark Sensex ended 0.49% down at 19,448.69 points.

Profit was Rs1,375 crore in the March quarter, while revenue rose 6% sequentially to Rs8,302 crore, chairman Azim Premji said in Bangalore on Wednesday.

IT czar Azim Premji today (April 27) declined to offer comments on Infosys Technologies Ltd, post retirement of its Chairman N R Narayana Murthy, saying he has no "privileged knowledge".

"Really, I cannot comment on.What I know of what is going on is what is available with the media. That's an honest truth. I have no privileged knowledge on it", the Wipro Chairman told reporters when asked if Infosys is going to be the same post Murthy's retirement and his view in this regard.

MindTree on Friday announced that it earned revenues amounting to $330.9 million in 2010-11, 21.5 per cent higher than in the previous year.

However, the company's post-tax profit declined by 50.6 per cent during this period — amounting to $22.30 million.

In its quarterly results, Accenture reported a high growth in its consulting business. It was beyond the analysts' expectation. So when other global companies like Oracle and SAP indicated a higher licence sale, this led the analysts raise expectation for Indian IT companies.

Infosys Techonologies, the IT giant based in Bangalore announced its Q4 and its year-end (FY11) results together. The company reported revenue growth of 2% in Q4 when compared over the Q3 results. Where as for financial year 2011, the company reported growth in revenues by 20.

IT bellwether Infosys today (April 15) reported nearly 14 per cent jump in consolidated net profit at Rs 1,818 crore for the fourth quarter ended March 31, 2011, which is less than the market expectations.

Also, the board has declared a final dividend of Rs 20 per share for the fiscal on every share of Rs 5 held.

The country's second largest software major had a net profit of Rs 1,600 crore in the March quarter of the previous fiscal (2009-10), Infosys Technologies said in a filing to the Bombay Stock Exchange.

The global IT business of Azim Premji owned Wipro, Wipro Technologies, announced today that it will be acquiring a unit of Science Applications International Corporation (SAIC) for cash. The deal is valued at approximately US $150 million.

SAIC owns the Global Oil and Gas Information Technology practice which provides consulting, system integration and outsourcing services to some of the major global oil companies.

IT major Wipro is all set to pay its new Chief Executive Officer (IT Business) and Executive Director, Mr T.K. Kurien, between Rs 3 crore and Rs 10 crore based on his performance.

According to a filing made by Wipro with the BSE on March 21, 2011, the company will pay Mr Kurien a salary in the said range as annual compensation, including variable pay, LTA, HRA, PF, and other frills. Interestingly, his immediate predecessors, the joint chief executive officers, Mr Girish Paranjpe and Mr Suresh Vaswani who put in their papers recently and whose resignations will come into effect from April 1, drew an annual salary of Rs 2.1 crore including allowances, deferred benefits, and incentives and about Rs 3 crore respectively, as per the 2009-10 Wipro annual report.

Infosys Technologies is entering into its next growth phase that will see the IT bellwether actively seek acquisitions for owning IPs/ platforms to remain relevant to its customers.

For this to happen, it plans to change the workforce-mix laying more emphasis on those who can adapt to the creation of IPs (intellectual property) while at the same time enable it to reduce reliance on adding headcount. Infosys has already about 2,500 people across various verticals working on creating IPs and solutions.

Software major Infosys on Thursday said it has not shut down its office in Japan and assured clients there that it would continue to support them.

"Business will continue. The servicing given to clients will continue because they are very very important," Infosys COO Shibulal told reporters on the sidelines of a function here.

The Vishwa Kannada Sammelana (World Kannada Summit) was recently held at Belgaum. It had its share of controversies starting from the inauguration ceremony. Infosys co-founder, Chief Mentor NR Narayana Murthy (NRN) is very dear to Kannadigas.

He and other companies like Wipro brought India on the world's software map. NRN has always been known for his simplicity and transparency. He brought a new standard in the corporate governance.

When Preethi Mohan Rao quit her job following the birth of her first child in 2006, the 28-year-old tax professional was prepared to put her career on hold indefinitely.

Her bosses at Ernst & Young's Global Shared Services in India would have none of it. As E&Y's Indian operations grew to almost 4,000 employees by 2010 from about 200 in 2002, the company accomplished something rare in India: having an equal number of male and female workers, Bloomberg Businessweek reports in its March 7 issue.

Information technology giant Infosys is likely to set up its first software development centre in Bihar and the state government is planning to provide it with land, an official said Sunday.

"Infosys officials approached the state government for land to set up its centre. The government is considering to provide land at Bihta near Patna," an official in the chief minister's office told.

India’s third-biggest software services exporter Wipro Ltd is restructuring business units aimed at simplifying decision-making to better compete with rivals.

It has redefined three of its strategic business units (SBUs) as healthcare, pharma and life sciences; manufacturing and hi-tech; and energy and utilities. Three of its other units —technology, media and telecom; financial services; and retail and transportation have been left unchanged.

Ashok Soota , who announced his decision to move out of MindTree and resign from his role as executive chairman, is bound by a non-compete agreement that prevents him from taking any MindTree client and employee with him, said a person with knowledge of the matter. Soota is starting a new venture and has asked the board to release him by March 31.

The veteran IT leader is held in high esteem and there were fears that after his departure, many employees and clients would also move out of MindTree to join him. Soota, who co-founded MindTree with nine others, is the single largest shareholder in the company with over 11% stake.