Infosys Technologies has fired 2,100 employees across the country, after an annual performance appraisal exercise concluded mid-March.
Mohandas Pai, head of the company's HR, told that based on the performance, 2,100 employees had left Infosys. "The tolerance for non-performance has come down to zero," said Pai.
"The appraisal was conducted for 60,000 of our employees. At the bottom, some 3.5% of the people were either outplaced or left the company. It's an annual scenario after every performance assessment. In fact, normally the bottom size is 5%,'' he said. Trainees were not part of this exercise.
Infosys currently has an employee base of 1,05,000 which includes 45,000 trainees who were not part of this ...
Indian Stock Market would be closed today on Friday, April 10, 2009 to celebrate Good Friday. Market would now directly open on Monday, April 13, 2009. So enjoy three consecutive holidays with you family and friends.
The List of Holidays for Indian Stock Market for the month of April is as follows:
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FII and DII activity that was seen on Thursday, April 09, 2009 is shown below. The report shows that FII were net buyer of Rs. 170.92 crore where as DII saw buying of 308.39 crore.
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Inflation for the week-ended March 28 has come in at 0.26% as against 0.31% a week earlier. The FY09 provisional average inflation is seen at 8.37% versus 4.67% year-on-year.
Meanwhile, inflation for week-ended January 31 has been revised to 3.98% versus the provisional figure of 4.39%.
Inflation number suggest that negative inflation may be seen in a weeks to come....
India's industrial output fell 1.2 per cent in February vs a growth of 9.5 per cent in the like month provisional drop reported for January has been revised now to a marginal growth of 0.39 per cent.
IIP released on Thursday, manufacturing output, which accounts for the main of the weight in the overall index, declined 1.4 per cent in February, against 9.6 per cent growth in the like month of last year.
While mining output also fell 1.6 per cent, against 8 per cent growth in February 2008, that for electricity increased marginally by 0.7 per cent compared with a 9.8-per cent growth during the period under review, the official statistics showed.
The general index expanded 2.8 per ...
Bookings for Tata Motors (TATA MOTORS: 226.1 +16.95 ) cheapest car 'Nano' started across the country by today(Thursday, April 09, 2009) and will continue till April 25, 2009.
The sale of application forms for the Nano started on April 1, 2009 and the response has been "very encouraging", the company said in a statement.
The application forms were sold through over 30,000 locations in about 1,000 cities pan-India through Tata Motors' passenger-car dealerships, State Bank of India branches as also through those of its subsidiaries and associates and other preferred financiers.
The forms are ...
Yesterday: In the morning as we expected Indian Stock Market went down by 365 points but thanks to excellent guidance provided by BHEL & NTPC, the entire capital goods share went up and so the Sensex went up nearly 550 points from its low and ended with sensex 207 points up and nifty with 86 points up.
Today: Now market looks solid and may reach 11000 in a short time. Lots of opportunities for ...
FII and DII activity that was seen on Wednesday, April 08, 2009 is shown below. The report shows that FII were net buyer of Rs. 573.33 crore where as DII saw selling of 378.22 crore.
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Last trading session: Well Indian Stock Market went up in the early trade, in noon went down and again came up sharply.
Today: Still bull hold the grip in the market but we believe that market will see profit booking as earning season is about to start & Earnings may not be as good as everyone expected so it is better to book the profit, wait ...
Motorola CEO, Dr. Sanjay Jha, an Indian is the highest paid CEO in U.S. Mr. Jha is been paid a whooping salary of $104.033 million (Rs 500 crore) per year.
Mr. Vikram Pandit, CEO of the mammoth banking group, CitiGroup, is at 4th rank and is been paid an annual total direct compensation of $38.221 million (Rs 190 crore).
Pepsi CEO Indra Nooyi is ...
Bad Market condition forced investors to move away from equity-based mutual funds. There has been a significant drop in the renewal of existing Systematic Investment Plans (SIP).
“SIP volume is down between 20 and 30 per cent of the outstanding systematic investment plans,” said Rajiv Deep Bajaj, managing director, Bajaj Capital. “Investors are breaking their SIPs in between.”...
Indian Stock Market would be closed today on Tuesday, April 07, 2009 to celebrate Mahavir Jayanti.
The List of Holidays for Indian Stock Market for the month of April is as follows:
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FII and DII activity that was seen on Monday, April 06, 2009 is shown below. The report shows that FII were net buyer of Rs. 196.74 crore where as DII saw selling of 81.76 crore.
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The CBI, investigating the Satyam financial fraud case, arrested three employees including a top executive of the IT firm on Sunday, said CBI DIG V V Lakshmi Narayana.
"We arrested three employees last night who designed the mechanism for the fraud and they were involved in preparing fake monthly bank statements and other documents," the CBI DIG said on Monday.
During the questioning by a two-member high-powered team of the ICAI, Satyam's former CFO Vadlamani Srinivas on Sunday mentioned the name of G Ramakrishna (Vice President, Finance).
The following Satyam employees were arrested: Vice-President (Finance) G Ramakrishna, ...
Government-owned lender State Bank of India (SBI) has given a return of 9.7 per cent on provident fund deposits, which is over half a percentage more than the best among the private sector asset managers during the quarter ended December 2008.
The other three private fund mangers, including HSBC AMC, ICICI Pru AMC and Reliance AMC, gave a yield of 8.5, nine and 9.1 per cent, respectively, during September 17 to December 31 in 2008, an Employees' Provident Fund Organization (EPFO) source said.
The EPFO, managing about 4.4 crore provident fund depositors, allowed the ...
