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