Infosys Ltd, India's second-largest IT services exporter, has for the first time picked an outsider as chief executive officer, as it seeks to boost sales of high-margin services like cloud computing and stem a staff exodus.Vishal Sikka, a former member of executive board at German software company SAP AG, has the technical savvy to herald what analysts expect will be a strategy overhaul at Infosys, which, like its competitors Tata Consultancy Services Ltd and Wipro Ltd, has relied on labour-intensive, low-margin contracts from Western clients.But it could be at least a year before Sikka is able to turn around a company that was once a posterchild of India's $100-plus billion IT services industry. Some investors say Infosys failed to move up the value-chain because of its risk-averse management culture."Infosys needs some change and with his track-record in emerging technology areas, high value services, Sikka will be able to bring that change," said Juergen Maiar, a Vienna-based fund manager for Raiffeisen Euroasien Aktien, which owns $300 million worth of Indian shares including Infosys.
Infosys Limited (Infosys) provides business consulting, technology, engineering and outsourcing services. Shares of INFY traded higher by 4.7% or $2.46/share to $54.76. In the past year, the shares have traded as low as $38.91 and as high as $63.20. On average, 1630320 shares of INFY exchange hands on a given day and today's volume is recorded at 3216456.
Sap AG is engaged in enterprise applications in terms of software and software-related service revenue. Shares of SAP fell by 0.13% or $-0.1/share to $74.93. In the past year, the shares have traded as low as $69.71 and as high as $87.42. On average, 958892 shares of SAP exchange hands on a given day and today's volume is recorded at 299144.
Wipro Limited (Wipro) is a global information technology (IT), services company. Shares of WIT traded higher by 1.41% or $0.16/share to $11.54. In the past year, the shares have traded as low as $6.91 and as high as $14.26. On average, 617789 shares of WIT exchange hands on a given day and today's volume is recorded at 682609.
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