Infosys fell short of a revenue target it lowered twice during the financial year and forecast that growth would be anaemic, causing investors to dump a stock once regarded as the bellwether for the Indian software industry. With its forecast of 8-10% revenue growth during the year to March 2013, Infosys’ guidance trails the growth [...]

The famous promoters of Infosys have steadily been reducing their stake. The combined promoters holding at the end of March 2012 in the index heavyweight stands at 16.04 per cent. They held 28.72 per cent stake in March 2002. During the period, the Rs 5-paid Infosys jumped from Rs 256 (after adjusting for bonus and [...]

Facebook’s defensive purchase of Instagram raises a red flag. Online photos are supposed to be a core Facebook competence. Paying $1 billion for the popular picture-sharing app may boost the social network in mobile. But paying over the odds for revenue-free rivals is usually the hallmark of anxious, mature firms – not a growth company [...]

General Motors earned its largest profit ever in 2011, two years after it nearly collapsed into financial ruin. Strong sales in the US and China helped the 103-year-old carmaker turn a profit of $7.6 billion, beating its old record of $6.7 billion in 1997 during the pickup truck and SUV boom. GM is a vastly different company than it [...]

A day after Apple posted historic quarterly profits, the technology giant surpassed oil major ExxonMobil to briefly become the most valuable company in the world when its market value touched USD 419 billion. During trading yesterday, the California company’s shares were up by as much as 8 per cent, pushing its market value to USD [...]

Apple blew past forecasts and reported record quarterly net profit and revenue on Tuesday in the first quarter since the death of founder Steve Jobs, driven by strong sales of the new iPhone. Apple said its net profit more than doubled in the first quarter of fiscal 2012 to a record $13.06 billion while revenue [...]