BOM:500209

Infosys Enters ERP Transformation Partnership With IHH Healthcare

Infosys (NSE:INFY, BOM:500209) has entered into a multi-year partnership with dual-listed IHH Healthcare (KLSE:IHH, SGX:Q0F) to implement an enterprise-wide ERP transformation program, according to a Thursday filing.The collaboration will focus on standardizing and streamlining business processes across markets, including Hong Kong, Malaysia and Singapore, the company said in the filing.Infosys will consolidate IHH Healthcare's existing ERP systems across functions including finance, procurement, supply chain, and human capital management, and enable real-time data visibility and reporting.The company said the program will use its AI platform Infosys Topaz.Infosys shares fell over 2% in recent trade.

Indian Equities Rise Tuesday Backed by IT Surge, Trade Talk Optimism

Indian equities rose on Tuesday, turning from four days of losses, supported by a robust end-of-day surge in major IT stocks and high hopes of successful U.S.-India trade negotiations.The BSE Sensex jumped 0.5%, or 382.5 points, to finish Tuesday's session at 74,649.84. Likewise, the NSE Nifty 50 climbed 0.4%, or 100.95 points, to 23,483.55.Investor sentiment improved on hopes of relief from US tariffs following talks between the two nations scheduled for June 2, 3, and 4, according to Business Standard.Additionally, IT heavy-weights led the day's gainers. Tata Consultancy Services (NSE:TCS, BOM:532540), Infosys (NSE:INFY, BOM:500209), and HCL Technologies (NSE:HCLTECH, BOM:532281) closed around 7%, 6%, and 4% higher on Tuesday.The top losers were NTPC (NSE:NTPC, BOM:532555), Axis Bank (NSE:AXISBANK, BOM:532215), and Power Grid Corporation of India (NSE:POWERGRID, BOM:532898), falling about 3%, 2%, and 1% at they day's close.In corporate news, Vedanta's (NSE:VEDL, BOM:500295) shares closed over 1% lower after India's financial investigation agency raided the mining company's premises over alleged foreign exchange violations.The searches were conducted to facilitate an investigation under the Foreign Exchange Management Act, First Post reported.

Moody's Upgrades Ratings of Four Major Indian Companies After Change in Rating Methodology

Moody's has upgraded the ratings of four major corporates in India as part of the revision of its sovereign-linked ratings methodology, which replaces its earlier framework, according to a Friday statement issued by the ratings agency.In this process, Tata Consultancy Services' (NSE:TCS, BOM:532540) long-term local currency issuer rating was upgraded to A2 from Baa1. The long-term local currency issuer rating of another technology giant, Infosys (NSE:INFY, BOM:500209), was upgraded to A2 from Baa1.Both companies are the only ones to be rated at four notches above the Indian sovereign.Moody's said both technology giants benefit from a highly diversified revenue base across geographies and sectors, strong and consistent profitability, excellent liquidity, a debt-free balance sheet, and sustained robust free cash flow generation.The ratings agency also upgraded Reliance Industries' (NSE:RELIANCE, BOM:500325) long-term local currency issuer rating and its foreign currency senior unsecured ratings to Baa1 from Baa2, while Tata Steel's (NSE:TATASTEEL, BOM:500470) long-term foreign currency issuer rating has moved up to Baa2 from Baa3.Moody's said Reliance gains from its leading positions across oil-to-chemicals, digital services, and retail, as well as counter-cyclical business segments and significant international exposure, with more than one-third of revenue coming from exports.For Tata Steel, Moody's said that the company continues to benefit from its close association with the parent Tata Sons and the broader Tata Group, including the strength of the Tata brand, which supports its access to funding and relationships with lenders and investors.The outlook for all four Indian companies remains stable, the statement said.

Infosys Completes Acquisition of US-Based Optimum Healthcare IT

Infosys (NSE:INFY, BOM:500209) has completed the acquisition of US-based healthcare technology company Optimum Healthcare IT, according to a Tuesday filing to the Indian stock exchanges.In late March, the Indian technology services provider had agreed to acquire Optimum Healthcare for up to $465 million, including upfront payments and earnouts.The acquisition will help is expected to boost the company's presence in the provider segment by adding new clients and relationships, expanding technology capabilities, and creating synergies across new buying centers.

Jefferies Adjusts Infosys' Price Target to INR1,235 from INR1,290, Keeps at Hold

Nomura Adjusts Infosys' Price Target to INR1,640 from INR1,630, Keeps at Buy

Infosys' Consolidated Profit Rises in Fiscal Q4

Infosys' (NSE:INFY, BOM:500209) consolidated attributable profit rose to 85.0 billion Indian rupees in the fiscal fourth quarter ended March 31, from 70.3 billion rupees a year ago.The technology company's earnings per share grew to 20.98 rupees from 16.94 rupees a year ago, according to a Thursday filing to the Indian stock exchanges. The EPS was higher than the 18.36 rupees estimated by the analysts polled by Visible Alpha.Revenue from operations in fiscal Q4 increased to 464.0 billion rupees from 409.3 billion rupees a year ago. This was also higher than Visible Alpha's estimate of 459.2 billion rupees.The company's board recommended a final dividend of 25 rupees per equity share for the financial year ended March 31. The record date to decide on the eligible shareholders of the final dividend is June 10, and the dividend will be paid on June 25.