There is immense opportunities for e-commerce space to flourish in India, especially companies such as Uber, says Infosys' Vishal Sikka.
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"It was long overdue, I think it was part of a portfolio decision. The vast majority of their holdings are still there, and they are still among the largest shareholders of the company," Sikka said of the founders' stock sale. "They're fully committed to the management, to the company—it's all good."
"It was long overdue, I think it was part of a portfolio decision. The vast majority of their holdings are still there, and they are still among the largest shareholders of the company," Sikka said of the founders' stock sale. "They're fully committed to the management, to the company—it's all good."
Founders and their family members sold roughly 32.6 million shares, worth about USD 1.1 billion, according to Reuters. NYSE-traded Infosys stock opened more than 4 percent lower on Monday when the stock sale occurred.
Speaking of the company's future, Sikka said he sees a positive growth environment in India given the country's increasing adoption of digital technologies.
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"There's a great opportunity in digital to bypass, to sort of leapfrog, some of the advances that India has missed out on," he said. "The e-commerce services like Uber, these have a huge opportunity in India because there is a tremendous embrace of the digital. It's a young country, it's a young work force—huge opportunities there."
And while the mobile economy is flourishing, Infosys will also be focusing on enterprise technologies. Sikka said the company will be building artificial intelligence and automation systems to increases workplace productivity.
Infosys stock price
On December 10, 2014, at 11:10 hrs Infosys was quoting at Rs 1972.00, up Rs 7.20, or 0.37 percent. The 52-week high of the share was Rs 4401.00 and the 52-week low was Rs 1447.00.
The company's trailing 12-month (TTM) EPS was at Rs 101.90 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 19.35. The latest book value of the company is Rs 366.51 per share. At current value, the price-to-book value of the company is 5.38.
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