Infosys incentivises nearly 7,000 mid-level employees with shares

Infosys, country’s second-largest IT company, has decided to incentivise nearly 7,000 mid-level employees in form of restricted stock units (RSU). company, hequartered in Bengaluru, filed a statement to stock exchanges saying  2,298,020 stock incentives were given to 6,949 eligible employees. 

"This is to inform that 2,298,020 stock incentives in form of RSUs were granted to 6,949 mid-level eligible employees of company/subsidiary companies under 2015 Stock Incentive Compensation Plan," statement re.

" date of grant for se stock incentives is vember 1, in line with company's compensation calendar timelines. exercise price will be par value of shares. se RSUs will generally vest in four equal instalments," company ded.

A decline in quarterly revenue

decision of IT services company comes when its profit for second quarter of financial year 2019-2020 has dipped by 2.2 per cent. Infosys registered a net profit of Rs 4,019 crore for July-September 2019 quarter against Rs 4,110 crore in same period last fiscal. 

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Raised revenue growth guidance

Infosys was expecting 7.5-9.5 per cent revenue growth for FY2019-20 and h raised its revenue growth guidance for fiscal to 8.5-10 per cent.

"Our performance was robust on multiple dimensions revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition," Infosys CEO and MD Salil Parekh said.

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Third on Forbes list

Last month, company ranked third on Forbes’ list of ‘World's Best Regarded Companies' for 2019. Infosys co-founder Nandan Nilekani took to Twitter claiming pride in company for third rank.

Forbes’ editor, in a statement, said that company me great strides and surpassed its goal to hire 10,000 American before schedule.

“Forbes’ rankings include companies spanning across geographies. This year’s list has a global scope, reflecting emerging prevalence of Asian companies in United States. Infosys has me great strides in U.S. this year, after surpassing its’ goal of hiring over 10,000 American employees well ahe of schedule,” statement re.

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(With Inputs from ncies)