All’s well at Infy... let’s all keep quiet, says Murthy

The Times of India (Mumbai edition) - - TIMES BUSINESS -

Ben­galuru: In­fosys founder N R Narayana Murthy on Wed­nes­day said all is well in the com­pany and its chair­man Nandan Nilekani has the skills of sim­pli­fy­ing “lots” of com­plex­i­ties in the soft­ware ma­jor. “Ab­so­lutely, all is well. Re­mem­ber, in my speech with the in­vestors, I said now that we have Nandan as the chair­man, we can all sleep well,” he told re­porters after the an­nounce­ment of win­ners of In­fosys Prize for 2017-18 here.

Murthy also said, “Let’s leave it to him and let’s all keep quiet, so that he can do his job well.” His re­marks come days after he had ex­pressed dis­ap­point­ment over In­fosys, un­der Nilekani, giv­ing a clean chit to the com­pany’s $200 mil­lion ac­qui­si­tion of Is­raeli tech­nol­ogy firm Panaya.

Murthy, had on Oc­to­ber 24, ex­pressed dis­ap­point­ment that none of the ques­tions rai- sed by him on “poor gov­er­nance” had been an­swered by the com­pany’s board with trans­parency. On scout­ing new CEO for In­fosys, Murthy said there is no need to give ad­vice to Nilekani be­cause he had been a good CEO him­self.

“Hav­ing been a good CEO him­self he knows what is re­quired. So, there is no need for ad­vice,” he said. Some names in­clud­ing for­mer Infy ex­ec­u­tive Ashok Ve­muri’s had cropped up in the me­dia but he has re­port­edly ex­pressed his un­will­ing­ness to ac­cept the job. Ve­muri had quit Infy in 2014 after Vishal Sikka was brought in as the com­pany’s CEO and MD. Sikka had quit amid tur­moil in the com­pany.

Risk-tak­ing took a hit as the coun­try’s ex­ports en­tered neg­a­tive ter­ri­tory after over an year, con­tract­ing 1.12% in Oc­to­ber and im­ports surged. This showed up in trade deficit, which swelled to al­most a 3-year high of $14 bil­lion last month. A sub­dued trend in Asia and a lower open­ing in Europe, track­ing a fall in oil prices and doubts over US tax re­forms, kept spir­its low.

Wed­nes­day’s de­cline in the bench­marks left in­vestors poorer by Rs 1.55 lakh crore at Rs 141.7 lakh crore. For­eign port­fo­lio in­vestors (FPIs) picked up shares worth a net Rs 2,577 crore on Tues­day, pro­vi­sional data showed. Do­mes­tic in­sti­tu­tional in­vestors (DIIs) net sold shares worth Rs 1.30 crore.

From the sen­sex lot, Sun Pharma turned red the most — sink­ing 4%, after the pharma ma­jor re­ported a big drop in con­sol­i­dated net profit.

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