Tata Electronics on Saturday began the construction of its Rs 27,000-crore chip assembly plant in Assam, which is expected to become operational next year and create 27,000 jobs initially. The plant will produce 4.83 crore chips per day using indigenously-developed technologies. The plant's Bhumi Pujan (foundation stone laying) ceremony was held at the project site at Jagiroad in Morigaon district in the presence of Assam Chief Minister Himanta Biswa Sarma and Tata Sons Chairman N Chandrasekaran.
The country's largest software services exporter TCS on Monday reported an annualised 8.4 per cent growth in net income at Rs 10,431 crore for the September quarter. The Tata Group company said its total revenue from services grew at a much faster pace of 18 per cent to touch Rs 54,309 crore in the period under review. The city-headquartered IT major had reported consolidated revenue of Rs 46,867 crore in the year-ago quarter from which it had earned Rs 9,624 crore net income.
IT major TCS CEO Rajesh Gopinathan has reigned, and the company nominated its global head of the BFSI division K Krithivasan as the CEO Designate with immediate effect, the firm said on Thursday. Gopinathan will continue with the company till September 15, 2023, to provide transition and support to his successor.
Work should not flow; it should get done, said N Chandrasekaran.
IT major TCS is planning to revamp the organisation structure to align with customers more closely, as it aims to achieve $50 billion (about Rs 3.89 lakh crore) revenue by 2030, a source aware of the development said on Tuesday. The company had garnered $25 billion in revenue in 2021. "TCS has now charted its roadmap and long-term strategy to reach the next $25 billion revenue. "It aims to get to $50 billion by the close of the decade," the source told PTI.
Tata Consultancy Services (TCS) on Wednesday reported a 12.2 per cent rise in its consolidated net profit to Rs 9,769 crore for the December 2021 quarter, and announced Rs 18,000-crore buyback offer for its shareholders at Rs 4,500 per scrip. The country's largest software services firm had logged a net profit of Rs 8,701 crore in the year-ago period. Revenue of the Mumbai-based firm grew 16.3 per cent in the quarter under review to Rs 48,885 crore from Rs 42,015 crore in the corresponding period last fiscal, TCS said in a regulatory filing.
The newest CEO in the Tata group brings an aggressive pace and style to India's largest IT consultancy firm.
N Chandrasekaran received Rs 2.62 crore (Rs 26.2 million) as perks.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
The company is also looking at creating an algorithm-based talent marketplace and an internal gig workers' community. Talent Cloud will be powered by Algo Talent Development, enabling associates to move across different technologies and industry domains.
In March this year, when Tata Consultancy Services (TCS) unveiled a new brand statement of "Building on Belief", many wondered if it was the right strategy. When things are uncertain, wouldn't a brand statement such as "Experience Certainty" have been better? But for Rajesh Gopinathan, CEO & MD, TCS, it was all about the way the company was looking at business. As Gopinathan explained over a video call, "Today, we have over 1,000 customers and 98 per cent of our business is repeat business; our relevance to customers should continue, and to increase.
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.
Tata, who attended the annual gala event at the National Centre of Performing Arts after five years, was alluding to Chandra's presentation on the performance of the Tata group of companies.
At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer.
Who will replace Chandra at TCS if moves to Tata Sons?
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Though the party's pre-poll promises include increasing the focus on technology, this isn't a new idea.
It is expected growth will primarily be driven by continued demand from the US, a revival in the European market, especially continental Europe, and increased momentum in the adoption of new technologies.
Prime Minister Narendra Modi is likely to urge Tim Cook to begin manufacturing its prized iPhones in India.
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