According to NASSCOM and McKenzie, it is projected that Indian IT sector will need around nine million employees and currently it has only 3.2 million, he informed.
To increase focus on hiring people from diverse skillset
The firm-level optimism derives partly from the state of the global economy.
The settlement is subject to fairness review and approval by the court.
Indian IT major Tata Consultancy Services will open a branch in Israel within six months and has already chosen a local manager.
Close to 1,500 trainees who will join India's largest information technology services provider, Tata Consultancy Services (TCS), by the end of September, will not be eligible for variable pay till they complete their six-month training period.
Infy's cash utilisation may play role in whether valuation gap too narrows
Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards.
Gains in IndusInd Bank, HCL Tech, TCS, Tech Mahindra, NTPC, ITC, JSW Steel and Tata Steel helped the barometer scale a fresh high. Axis Bank fell the most by 1.26 per cent, M&M by 0.99 per cent and Hindustan Unilever by 0.67 per cent. Maruti, Bajaj Finserv, Bharti Airtel and HDFC Bank and Infosys also declined.
Tata Consultancy Services, the $2 billion listed IT company from the Tata group is looking at expanding its global base by exploring untapped markets in Eastern Europe, Russia and China.\n\n
The overall momentum is very strong, said the company CEO.
Leading software company Tata Consultancy Services has announced an alliance with the MIT Sloan Centre for Information Systems Research, strengthening ties with the world's leading academic institutions.
According to bulk deal data available on the National Stock Exchange, TCS promoter group firm Tata Industries has sold 1.03 crore shares of TCS at Rs 615.04 a piece, aggregating to over Rs 634.80 crore. As of March quarter, Tata Industries held 5,14,850 shares representing 0.05 per cent stake in TCS.
India's largest information technology firm Tata Consultancy Services on Wednesday said it would increase headcount in the next financial year and explore both the organic and inorganic routes for growth.
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
The recent sell-off in IT stocks such as Infosys and Tata Consultancy Services (TCS) has resulted in a sharp decline in the IT sector weighting in the Nifty50 index. The sector's weighting in the index has slipped to a five-year low of 12.2 per cent, down from the 17.7 per cent at the end of March 2022. The top IT companies - TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra - accounted for 13.6 per cent of the index at the end of March this year.
Led by Tata Motors and Tata Consultancy Services (TCS), the combined revenue of the Tata group's listed firms crossed the Rs 10-trillion mark for the first time, in 2022-23. The group's 14 key listed companies in which Tata Sons holds a direct equity stake reported a combined revenue of Rs 10.07 trillion in FY23, up 15.3 per cent from Rs 8.73 trillion in FY22. The combined net profit of these companies was, however, down 10.6 per cent year-on-year (YoY) at Rs 66,670 crore in FY23, from a record high of Rs 74,540 crore in the previous financial year, when the profit had jumped 156 per cent YoY, aided by Tata Steel's strong showing.
Betting big on the inorganic growth strategy, Tata Consultancy Services on Thursday said its initial public offer would help bolster resources for 'significant' acquisitions for future growth.
Historically, Infosys has kickstarted the earnings season for the entire listed space for many years, thus earning the bellwether tag in the market, while TCS has generally followed with its quarterly numbers a few days later.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan. However, IT majors HCL Technologies and TCS defied the trend and gained 1.02 per cent and 0.47 per cent, respectively. FMCG firm Hindustan Unilever rose 0.32 per cent.
M&B is partnering with TCS to streamline the management of its HR and Payroll operations.
TCS was in charge of development and management of the portal for seven years, until MCA decided to hand the work of its IT vendor to Infosys.
On Friday, the stock was the worst hit among the 30 blue-chips on the Sensex
TCS is likely to hire hire 55,000 employees in FY15 .
50 years ago, on April 1, 1968, Tata Consultancy Services -- now India's leading IT company -- was born. The foundation for TCS was laid by Faqir Chand Kohli whose life touched directly or indirectly many, many, Indians, says Shivanand Kanavi.
Software giant TCS has replaced its group firm Tata Steel as the country's most admired company.
Indian IT companies TCS, Infosys, Wipro and HCL Technologies have issued advisories to their employees working in US, whose East Coast is battered by a superstorm.
The pilot project would begin from South 24 Parganas district and be gradually extended to all other 18 districts of the state, Panchayat and Rural development minister Subrata Mukherjee said.
On key parameters, TCS appears to be on a better wicket.
First, TCS is on track to grow faster than the industry's estimated 11-14 per cent growth (in constant currency). The second quarter has seen no major shift in demand or project cancellations, which were big concerns.
Take the Rediff Business Quiz and find what you know about TCS, India's largest IT company.
Tata Consultancy Services (TCS) said it will hire 55,000 employees this fiscal, including 25,000 freshers.
India's largest software services exporter Tata Consultancy Services on Friday said it will expand its strategic business alliance with US-based Dow Chemicals that will create new jobs in Midland-Michigan.
With revenues of $13.4 billion for FY14, Tata Consultancy Services (TCS) has managed to deliver consistent growth for both the fourth quarter and the full year.
Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
TCS has bagged a Rs 784 crore outsourcing order from Sun Life Financial of Canada.
Employees face a bleak future, CPI (M) said.
