Rao to continue Sikka's strategy

The interim CEO and MD of Infosys U B Pravin Rao on Tuesday hinted towards continuation of the strategy of expanding into new services and automation drive started by Vishal Sikka.

“We will continue to execute on the strategy that we have laid out for ourselves. We have already seen how our new services are gaining traction. And how our embrace of automation is helping us become more productive in the work that we do, and how it is creating more and more opportunity for us to focus our energies towards innovation - both for ourselves and our clients,” Rao said in his first letter to employees.

Rao, who took over the reigns from Sikka on August 18, also urged employees to keep up their “incredible work” in helping company perform better financially. “We must all continue the work we do to create the value our clients are counting on us to deliver,” Rao said in the letter.

Continuing the emphasis laid by company’s co-chairman on the culture of the company, Rao said in the letter, “As has always been, the foundation for this will continue to be our culture, our values – especially our ability to learn, and do more — much more to create real value — than simply execute the jobs we are handed.”

He also stated that Sikka, as Executive Vice Chairman will continue to support him till March 2018 and help in the transition.

Sebi Radar

Meanwhile, markets regulator Sebi on Tuesday said that it is keeping a close watch on the share price movement of Infosys.

“We are keeping a watch on Infosys share prices,” Sebi Chairman Ajay Tyagi said. Shares of Infosys plunged by nearly 10% on Friday wiping out Rs 22,519 crore from its market valuation, after Sikka's resignation.