TCS, India's largest IT company, has appointed and approved current TCS chief operating officer and executive director N Chandrasekaran as the CEO and Managing Director-designate.
Compared to the last 40 years (of TCS' existence), this is by far the most challenging time. The last nine months, in particular, were quite challenging. Some of our top financial services customers were in a difficult situation.
In an earlier interview, chief operating officer N Chandrasekaran had voiced this concern and said TCS was taking some measures. The impact was also evident on the overall revenue contribution, which fell to 4.7 per cent in FY09 from 5.2 per cent in FY08. TCS' head for Apac, Girija Pandey, feels the region will continue to be volatile till they reach a certain level.
'With a strong customer base, we will continue to focus on customer-centric services, offer integrated full services, a global delivery model, tap emerging markets and increase our non-linear capabilities.'
The auto major said profit was impacted by an exceptional item of asset impairment in its British arm Jaguar Land Rover.
To add 1,500-2,000 people in the next 12 months.
Tata Sons chairman N Chandrasekaran on Thursday said even though a "hybrid" model will be the new normal in future, India's largest software exporter TCS will ask employees to come to work once the pandemic is over as social interactions are a social necessity. "I do want to make the point that people need to meet people. It is a social necessity. "So, there will be a shift towards moving people to work when the pandemic gets over," Chandrasekaran, who also chairs TCS, said at the company's annual general meeting. At present, 97 per cent of the company's staff have been working from their homes because of the pandemic, he said, admitting that a "hybrid" model where people work from homes and also from offices will be the new normal.
Tata Consultancy Services (TCS) on Thursday reported an 8.4 per cent rise in consolidated net profit to Rs 6,586 crore for the second quarter ended September 30 and said uncertainties in environment had resulted in holdbacks in discretionary spend by customers.
US President Donald Trump on Tuesday wooed Indian industry leaders to invest more in America, promising to reduce more regulations in his country as he looked for overseas investment to boost the economy there. Speaking at a high-profile CEO round-table which included captains of the Indian industry such as Reliance Industries chairman Mukesh Ambani, Mahindra group chairman Anand Mahindra, Tata Sons chairman N Chandrasekaran and Aditya Birla group chairman Kumar Mangalam Birla, Trump reassured that regulations "will only get better" for investment in the US.
A team of more than 60 people under Neeraj Mittal, an IAS officer, was instrumental in getting up the New Industrial Policy 2021 targeting investments of around Rs 10 trillion by 2025.
Tata Consultancy Services plans to open its third IT centre in China in the current fiscal and increase its headcount five-fold to 5,000 by 2010, a senior official said on Friday.
With all of the heavy lifting we have done over the past few years, I am confident that we are now well positioned to build on the Tata Group's unique legacy to steer the 21st century towards a more sustainable, connected, inclusive and efficient future: Chandra in email to staff.
We are adapting to the situation by innovating new delivery modelss, launching brand campaigns that are impactful in the current context and closely monitoring changes in consumer buying behaviour, he said.
The Rajabai Clock Tower and Library have received a magnificent makeover.
He rued that people who work hard and honestly are put through enormous difficulties and Indians excel in making an ordinary task into an extraordinary one.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
He said COVID-19 can be a catalyst towards the adoption of digital technologies in health and education and drive change in a way that even venture capital funds have not achieved despite pouring billions in investments.
IT major TCS said 2014-15 will be better than the ongoing fiscal on account of uptick in client spending in the US and Europe and growth in demand for technologies like cloud, mobility and Big Data.
West Bengal Chief Minister Mamata Banerjee's maiden visit to the financial capital Mumbai drew an enthusiastic response from India Inc with industry captains queuing up to attend the meeting called by her.
In July-Sept 2016-2017, TCS had missed street expectations with 7.8% growth in revenue.
Chandrasekaran, who is the co-recipient of this year's USIBC Global Corporate Leadership Award, also said it is possible to have a limited deal between India and the US before the elections there in November if both sides work together to get something done and not try to solve all issues at once.
It is a reinforcement of the principles and forthrightness that prevails in our judicial system, which should make all of us proud of our country and its democracy.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Nearly 490 million people of working age are outside the bounds of India's unemployment assessments. A decrease in the unemployment rate could signal economic growth, but could just as well mean that people have given up looking for work. A revealing excerpt from Tata Sons Chairman N Chandrasekaran and Tata Chief Economist Roopa Purushothaman's Bridgital Nation: Solving Technology's People Problem.
The corporate sector should give priority to building toilets in schools as part of their corporate social responsibility initiatives.
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
The company's revenue rose 16.08 per cent to Rs 25,668 crore.
Chandrasekaran served TCS for three decades as it rose to become the largest IT company in the country and also the crown jewel for Tata Sons
TCS will manage Diageo's global IT infrastructure, data centres and servers, in addition to providing service desk support to employees, TCS said in a statement.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
TCS' customer focus has been central to its recent success.
JLR, the maker of Jaguar F-Type and Range Rover Evoque, was a jewel in the crown of Tata Motors till two years back. But, it has been struggling because of the pending Brexit, a sharp contraction in sales in China, a shift in consumer preference from diesel to gasoline in Europe, higher taxes on diesel vehicles, and tightening regulations.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
The deal between Bharti group and Tata Teleservices is yet another example of how swiftly things can change in business.
Tata Consultancy Services on Thursday said it will give out one-time bonus to employees that will be cost it Rs 2,628 crore.
The proposed TCS Learning Campus in Thiruvananthapuram will come up on a 97-acre plot in the Technopark area of the city.
With this, the total strength of TCS's board has increased to 11.
However, any progress on the deal depends upon Goyal giving up control of the company.
In October, the company had announced that it will hire 35,000 freshers.
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