'We have not seen too many large deals compared to last quarter.'
In July-Sept 2016-2017, TCS had missed street expectations with 7.8% growth in revenue.
Other prominent gainers included Tata Steel, Sun Pharma, Infosys, Tech Mahindra, IndusInd Bank, HCL Tech, ICICI Bank, HUL and HDFC Bank. NSE Nifty rose 86.40 points or 0.76 per cent to close at 11,503.35.
'Young people are digital natives.' 'Hence, their ability to learn coding and to become a full stack engineer is far more.' 'The demand for such people is more as we feel that if we hire people from campuses, we can train them to become what we want.'
Technology, not just cost, is key to IT's future.
The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, chief executive officer and managing director Rajesh Gopinathan said.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
Infosys had guided for a revenue growth in the range of 11.5-13.5%, which has now been lowered to 10-12%.
'At any given point in time, we expect only 25 per cent of our workforce will need to be in office.' 'And any given person will only be required to spend only 25 per cent of their time in office.'
Incumbent DMK MP T Sumathy alias Tamizhachi Thangapandian will face-off former Telangana Governor and BJP leader Tamilisai Soundararajan, while the the AIADMK has fielded ex-MP Dr J Jayavardhan, who won from here in 2014.
Revenue of the Mumbai-based firm grew 18.5 per cent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal.
However, the second quarter of FY24 is expected to be muted, and, with that, the hope of double-digit growth is now being pushed to FY25. However, analysts are expecting the momentum in the closure of record total contract values (TCVs) will continue, as has been the case over the last two quarters.
Revenue of the Mumbai-based firm grew 11.4 per cent to Rs 38,172 crore in the June 2019 quarter, compared to Rs 34,261 crore in the same quarter of 2018-19.
Indian SMBs spent $11.9 billion in 2010 on IT and it is expected to grow to $48.5 billion by 2015.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
India's information technology (IT) sector will witness subdued hiring in 2023-24 as macro uncertainties impact demand environment, with clients either taking a pause on spend or stopping discretionary spend, say human resource experts. To begin with, unlike earlier years, the three large IT players TCS, HCLTech, and Wipro have not provided any new hiring targets for the financial year. And Wipro has said that its hiring target will depend on the demand environment.
Strong deal wins and a good pipeline positions TCS very well in the new fiscal, TCS chief operating officer and executive director N Ganapathy Subramaniam said.
Industry sources said the lay-off may be part of the deal that Nokia has signed with TCS and HCL Technologies earlier this year.
TCS will provide a mobile application and technology support for the event on December 7.
Everyone (with some exceptions) whose estimated tax liability is Rs 10,000 or more in a financial year must pay advance tax.
IT giant TCS is believed to be undertaking a significant performance-related restructuring of its workforce, which may also lead to some employees being asked to leave the company.
The merger, in which TCS will hold 51 per cent stake and Mitsubishi 49 per cent, will create a new IT services company of significant scale in the Japanese market with annual turnover of over $600 million.
HDFC Bank, Reliance Industries and Housing Development Finance Corporation (HDFC) -- with free-float market cap of over Rs 3 trillion -- have the highest weight in the Sensex and the Nifty.
TCS is looking for Team Members in International Banking (Voice Support).
The court has also questioned Epic's assumption that Tata Consultacy Services used the information for the creation of a competitive product
TCS chief operating officer N Ganapathy Subramaniam earned over Rs 11.61 crore in FY19 as compared to Rs 9.29 crore last fiscal.
The company has declared a dividend of Rs 7 per share.
TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in the recent past has helped the company close the gap.
Cognizant jumps 13 ranks to become 4th most valued.
There has been a distinct trend change in the micro-indicators like rising auto sales and consumer confidence index in the last 20 quarters, Chandrasekaran stated.
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With its Mitsubishi JV beginning operations this quarter, analysts expect meaningful revenue addition
Largest industry gift to CMU and largest gift from outside US will support new facility and student scholarships
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Hospitality and travel sector players on Tuesday demanded infrastructure status for the hotel industry besides measures such as tax exemption on LTA annually to boost domestic tourism ahead of the Union Budget. They also recommended removal of the current TDS levied on automated bookings for internal or closed user groups such as business travel platforms and reducing the total number of licenses required to establish a hotel. "A full-blown infrastructure status for the hotel sector and further rationalisation of the Goods and Services Tax (GST) and a Central single window clearance for hotel projects are some of the major expectations from the Budget 2024," Roseate Hotels & Resorts CEO Kush Kapoor said in a statement.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
In dollar terms, its m-cap rose to $76 billion
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
The executive remuneration for FY2020 is lower than FY2019 in view of the economic conditions impacted by the COVID-19 pandemic. The directors have decided to moderate the executive remuneration for this year to express solidarity and conserve resources.
Most positives seem to be factored into current valuations.
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