Kamath will succeed NR Narayana Murthy, who would becomeChairman Emeritus. Infosys also named SD Shibulal, the current COO, as CEO andMD.

Current CEO S Gopalakrishnan is tipped to take over as chairman when Murthy retires, while present COO S D Shibulal is expected to be promoted to the post of chief executive officer.

IT services, which contributed 76 per cent to the company's revenues in 2010-11, stood at $1,400 million, a sequential increase of 4.2 per cent and 20 per cent year-on-year.

The scrip of the IT major climbed 2.22 per cent in value at Rs 1,245.90 a piece on BSE on expectations of robust fourth quarter earnings.

BPO service provider WNS Holdings on Tuesday reported a jump of five-folds in its net income to $5.2 million (about Rs 23 crore) for the fourth quarter ended March 31, 2011, buoyed by new client additions and a stronger British pound.

IBM Corp. on Tuesday reported stronger-than-expected net income and revenue for the first quarter, helped by the weak dollar and strong performance from its hardware division.

The scrip that opened on a weaker note, declined 3.24 per cent to a month's low of Rs 2,891.80 a share on Bombay Stock Exchange. It had tumbled 9.59 per cent on Friday.

Sensex slipped by 65 points on profit-booking over concerns about corporate earnings growth in view of high oil prices and inflation, along with disappointing Q4 results of Infosys.

Infosys Technologies, the country's second largest IT major, plunged on Friday, closing the session 9.6 lower at Rs 2,988, as its quarterly earnings missed estimates.

The IT bellwether slumped 7.26 per cent on BSE, followed by Wipro (4.34 per cent) and India's largest IT major Tata Concultancy Services, which declined 1.90 per cent.

Pai's resignation as HR-director will come into effect from June 11. The board of directors will meet on April 30, to finalise the company's leadership succession plans.

The IT bellwether posts a consolidated profit of Rs 1,818 crore for the fourth quarter ended March 31, below market expectations. Reacting to the news, its shares were trading 7% lower on BSE.

The BSE Sensex fell 310 points to 19,386.82 as higher inflation numbers triggered fears of interest rate hikes and Infosys reported lower-than-expected fourth quarter results, amid a weak global trend.

The third quarter of 2008-09 has been one of the weakest in recent times, but profits could decline further.

In the past 15 days, Indian mutual funds have become a lot more bullish, taking heart from good full-year results. Large caps remained in favour.

While India Inc. had managed to avert a sharp deceleration in its topline and bottomline growth in the first three quarters of fiscal 2008, it’s the last quarter that perhaps gives a clear picture of where they are headed. Hit by higher input prices and interest rates, corporate earnings growth was down sharply in the last quarter of 2007-08. Now with derivatives losses growing, India Inc. faces anxious times ahead.

India Inc.’s Q4 profits are down, and are unlikely to recover anytime soon.