Narayana Murthy commits to 20-year funding of scholarship at IIM Ahmedabad

Infosys co-founder N.R. Narayana Murthy has entered into a memorandum of understanding (MoU) with the Indian Institute of Management Ahmedabad (IIMA) to establish an inflation-adjusted, full-fee scholarship, which will cover the recipient's annual tuition fee, hostel expenses, course material, and mess charges for the two-year postgraduate programme (PGP) at the institute.
The scholarship, named 'Professor Jaswant G. Krishnayya Merit Scholarship' will be awarded annually to an eligible student who achieves the highest CGPA in the first year of the PGP. Mr. Murthy has committed to funding the scholarship for a period of 20 years. The aggregate payout for the scholarship over 20 years is estimated at ₹12 crore.
'This scholarship also serves as a testament to professor Krishnayya's pivotal role in shaping my early life and career. It is my hope that this scholarship will inspire students to strive for excellence and make a positive impact on the world,' Mr. Murthy said.
Long-standing bond
IIMA Board of Governors chairperson and Zydus Lifesciences chairman Pankaj Patel noted that Mr. Murthy's bond with IIMA began in 1969 as chief systems programmer, which deepened further when he served as chairman of the institute from 2002 to 2007.
Bharat Bhasker, director, IIMA, remarked that the scholarship was a celebration of excellence, mentorship, and impact, and reflected the institute's vision of enabling merit-based access to management education, while paying tribute to those who helped build it to what it is today.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Hindu

20 minutes ago

• The Hindu

Stock markets tumble in early trade amid worsening tensions in Middle East

Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday (June 23, 2025) amid heightened tensions in the Middle East after the US bombed three major nuclear sites in Iran. The 30-share BSE Sensex tumbled 705.65 points to 81,702.52 in early trade. The 50-share NSE Nifty dropped 182.85 points to 24,929.55. The U.S. bombed three major nuclear sites — Fordow, Natanz and Isfahan — in Iran, bringing itself into the Israel-Iran conflict. Israel-Iran conflict LIVE updates "Even though the U.S. bombing of Iran's three nuclear facilities has worsened the crisis in the West Asia, the impact on the market is likely to be limited. Even though the possibility of the closure of Hormuz Strait is a threat, it is important to understand that this has always been only a threat and the Strait had never been closed," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. From the 30-Sensex firms, Infosys, HCL Tech, Hindustan Unilever, Bajaj Finance, Power Grid and Eternal were the biggest laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, and Hong Kong's Hang Seng were trading lower while Shanghai's SSE Composite index quoted marginally higher. US markets ended mostly lower on Friday. Global oil benchmark Brent crude jumped 1.69 per cent to USD 78.31 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 7,940.70 crore on Friday, according to exchange data. On Friday, the 30-share BSE Sensex surged 1,046.30 points or 1.29 per cent to settle at 82,408.17. The Nifty climbed 319.15 points or 1.29 per cent to 25,112.40.

Economic Times

44 minutes ago

• Economic Times

Infosys Share Price Live Updates: Infosys Volume Performance

23 Jun 2025 | 09:21:56 AM IST Welcome to the Infosys Stock Liveblog, your ultimate source for real-time updates and analysis of one of the most prominent stocks in the market. Stay on top of the game with our comprehensive coverage, featuring the latest details on Infosys stock, including: Last traded price 1589.4, Market capitalization: 674033.13, Volume: 1066749, Price-to-earnings ratio 25.23, Earnings per share 64.32. Get a holistic view of Infosys with our expert insights into both fundamental and technical indicators. Stay ahead of the curve as we bring you breaking news that can impact the stock's performance. Whether you're a seasoned investor or a curious market enthusiast, rely on us to provide you with valuable information and informed recommendations. Join us on this journey as Infosys thrives in the ever-changing market landscape. The data points are updated as on 09:21:56 AM IST, 23 Jun 2025 Show more

News18

an hour ago

• News18

TCS, Infosys, Wipro: IT Stocks In Focus After Accenture Beats Q3 Revenue Estimates

Last Updated: TCS, Infosys, and Wipro shares are in focus after Accenture's revenue beat for Q3, driven by AI services demand. IT Stocks In Focus: Shares of TCS, Infosys and Wipro will be in focus after Accenture's revenue beat for third-quarter driven by growing demand for the consulting giant's AI-driven services from enterprise customers. Accenture shares dropped 11% on Friday, reaching a low of $273.19. As a result, the American Depository Receipts (ADRs) of India's leading IT companies, Infosys and Wipro, also declined. Infosys ADRs fell 3% to $17.89, while Wipro ADRs were slightly down by 0.33%. Accenture reported third-quarter revenue of $17.7 billion, surpassing analysts' average estimate of $17.30 billion, according to LSEG data. This growth was driven by increased spending by clients in the financial services sector. The profit per share of $3.49 also exceeded estimates of $3.32. Accenture now anticipates annual revenue growth of 6% to 7%, compared to its previous forecast of 5% to 7%. To manage the uncertainty, Accenture plans to focus on AI consulting through the establishment of a new business unit called reinvention services. This unit will consolidate its AI offerings and be led by Manish Sharma, the head of its Americas business.