The company plans to invest $110 million in Flock, Zeta, Radix and Ringo in the current financial year and the next.
Tata Consultancy Services (TCS) sparked a rout in information technology stocks after saying growth was slowing and clients, especially those in banking and financial services, were becoming cautious about spending.
Indian IT companies have been sounding the alarm bells on growth since the United Kingdom voted to leave the European Union.
The investment in the JV will be a little over $300,000 in the equity share capital of the proposed joint venture company, Infosys said in a filing.
The court says that DGCEI had acted with 'undue haste and in a reckless manner'.
Infosys said it was hoping to become the go-to IT provider for its customers and reducing the amount of work that comes from requests-for-proposals (RFP).
The site, started by Devangi Nishar Parekh, got Rs. 10 cr from Hexaware founder Atul Nishar.
The group has set aside $25 million over a five-year period to fund the research and will even send the group's employees to the universities to work on the research.
The group has set aside $25 million over a five year period to fund the research and will even send the group's employees to the universities to work on the research.
“Infosys has just three members of its management team responsible for all the verticals among themselves vs eight vertical heads at TCS,” Viju George said.
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