India's largest software services company Tata Consultancy Services (TCS) on Wednesday it has seen a surge in demand for its services and expects to recruit 10,000 individuals in the US by 2022. The Mumbai-based company has hired over 21,500 employees in the past five years in the US.
The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
In the domestic m-cap ranking, TCS was at number one position followed by RIL, HDFC Bank (Rs 666,533.49 crore), HUL (Rs 400,325.83 crore) and HDFC (Rs 378,236.52 crore).
Air India's use of artificial intelligence (AI) has had a huge impact on the airline major's call centre volumes and the technology integration has reduced costs by 100 times, a senior company executive said on Wednesday. The airline launched its own chatbot AI.g, earlier known as Maharaja, in May 2023. The chatbot has answered approximately two million queries since its launch, handling 93 per cent of customer inquiries without needing to pass them on to call centre agents, said Sathya Ramaswamy, Chief Digital and Technology Officer, Air India.
Expanding its presence in the US, India's IT major Tata Consultancy Services (TCS) has opened a new facility here which was welcomed by the US lawmakers and the Californian government.
Tata Consultancy Services (TCS) on Thursday said it plans to invest more than $100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state, TCS said in a statement. The new facility will officially open in late December 2020 and have space for 367 employees, it added.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
Fear of a recession in the US due to rising unemployment has added to the concerns of India's IT services sector, which was seeing some growth returning after Q1FY25 results. The Nifty IT closed 3.26 per cent down, as major IT services companies' stock value fell. Tata Consultancy Services (TCS), India's largest IT services firm, saw its stock price fall 4 per cent during intraday trading.
Both firms have broken TCS' streak of industry-leading performance over the past few quarters by posting higher revenue and earnings growth this quarter.
Tata Consultancy Services, Asia's largest IT services company, is expanding its base in Kerala by setting up its operations at Kochi Infopark.
The candidates will be selected through a National Qualifier Test. The top 1,000 will be offered a much higher salary -- almost double of that being offered to peers.
As a part of cost cutting measures to tackle global economic downturn, IT major Tata Consultancy Services (TCS) on Thursday said job cuts are possible and ruled out salary hikes next year.
As the strategic IT services partner for IMSS, TCS will provide IT services including application maintenance and support, custom software development, business analysis services and value-added initiatives for the organisation's affiliates, a release said. TCS won the order following a public bid process and an assessment based on technology and financial parameters, it added.
Hussain shall hold office as the chairman of the company until a new chairman is appointed in his place
The country's largest software vendor Tata Consultancy Services (TCS) on Tuesday said it will review salary increment plans by this month-end as signs of revival of demand in the sector get stronger by the day.
'It is not that employee work is not happening if you don't see it.'
India's largest IT services firm Tata Consultancy Services is eyeing the 'major transformation' in China's banking and financial services sector to tap the market for its services and products.
As part of the commercial deal, the council's IT department will collaborate with TCS to integrate and rationalise its back office IT systems.
Tata Consultancy Services, India's number one information technology services company, could overtake Infosys to become the most profitable one for the first time on a full-year basis in 2012-13.
TCS beat tech giants IBM and Hewlett-Packard to become the fastest growing brand within the IT services sector.
As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
Tata Consultancy Services and State Bank of India on Monday launched a joint venture to provide advanced technology solutions and world-class domain consulting for the banking and financial services sector.
From the 30 Sensex pack, Hindustan Unilever fell by nearly 6 per cent after the FMCG major reported a 2.33 per cent decline in consolidated net profit at Rs 2,595 crore for the second quarter ended in September 2024 impacted by moderation in demand from the urban market.
Tata Consultancy Services would set up a development centre at Gandhinagar, official sources said in Ahmedabad on Friday.
Its revenue grew 3 per cent year-on-year to Rs 40,135 crore for the just-ended quarter from Rs 38,977 crore in the year-ago period.
The figure constitutes less than one per cent of the company's 1,30,000-workforce. According to the report, a TCS spokesperson reasoned that these employees had failed to meet performance standards.
Tata Consultancy Services (TCS) is likely to delay its Rajarhat campus in West Bengal, as part of a string of cost-management initiatives to cope with the pangs of the global meltdown.
The company -- the first major IT services firms to announce such a move -- has asked its workforce to return to offices because of the need to deepen the value systems and a belief in productivity gains coming from co-working, TCS chief human resources officer Milind Lakkad told reporters.
Stock market investors became richer by a whopping Rs 77.66 lakh crore in 2024, helped by an overall optimistic trend in equities, where the BSE Sensex surged over 8 per cent. Analysts said the year witnessed a tug of war between the bulls and bears marked by volatility but, despite the uncertainties around the world, the Indian markets sustained the pressure and delivered impressive returns.
India's Rs 6 lakh crore-plus information technology (IT) industry is back on its high-growth path - led by Tata Consultancy Services (TCS), which is ahead of other large firms in top-line numbers for the second quarter.
Equity benchmark indices Sensex and Nifty settled lower for the sixth straight session on Monday due to heavy selling in bellwether stocks including HDFC Bank and Reliance Industries amid mixed trends in the global markets and outflow of foreign funds. Falling for the sixth consecutive session, the BSE Sensex tumbled 638.45 points or 0.78 per cent to settle at 81,050. During the day, it plummeted 962.39 points or 1.17 per cent to 80,726.06. The NSE Nifty slumped 218.85 points or 0.87 per cent to end at 24,795.75.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Tata Consultancy Services (TCS), the country's largest information technology services company, will hire 50 per cent more students from campuses for 2011-12.
BoA has given formal approval to 15 special economic zones, including those of TCS and Cognizant, and in-principle nod to five, Commerce Secretary and BoA Chairman G K Pillai told reporters after the meeting in New Delhi.
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