Among the Sensex firms, Kotak Bank, PowerGrid, ICICI Bank, HDFC Bank, PowerGrid were the major gainers. HUL, TCS, M&M, IndusInd Bank, HCL Tech were among the losers.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
Tata Consultancy Services, the country's largest IT company, has changed its hiring strategy and will focus on just-in-time hiring or real-time talent management."TCS has decided to adopt the policy of real-time management whereby we will hire in the last three months of the final year of graduation rather than a year before," said S Ramadorai, managing director and chief executive officer, TCS.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
Umesh Keelu said he would be motivating other youngsters from Dharavi slums to join the armed forces.
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.
Analyst are cautious about the performance of IT services sector from January to March quarter (Q4) of FY24 and the first half (H1) of FY25. While the Bloomberg consensus on revenue implies the market is expecting 2-3 per cent growth on a quarter-on-quarter (Q-o-Q) basis for the IT majors through FY25, the H1FY25 is likely to see even flatter returns, and Q4FY24 is likely to be poor. There is likely to be some recovery in the second half (H2FY25) but even so, there's a chance that the market will be overall disappointed.
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TCS previously developed mobile apps for the last year's marathon, helping participants to track runners and to receive race results, information on the event, and tips for training.
At 4.16 mn shares, chairman-in-waiting holds 0.21% in group's cash cow
ignio has more than 75 patents filed in the artificial intelligence, machine-learning and intelligent-automation space
The challenge before TCS is to be totally at home with the IPR regime of developed economies.
Among Sensex shares, Bajaj Finserve, ICICI Bank, Bharti Airtel, Bajaj Finance, Sun Pharma, Maruti Suzuki, ITC, and Nestle were the lead gainers. On the other hand, L&T Wipro, IndusInd Bank and TCS and Tata Motors were the lead losers.
W12 Studios will be part of TCS Interactive, further strengthening the already impressive array of creative and experience services it offers
The TCS results are probably a pointer to the subdued outlook.
S Ramadorai is now the vice-chairman of Tata Consultancy Services (TCS) after being its MD and CEO for a decade. He is also advisor to the Prime Minister on the National Skill Development Council (NSDC).
The Times Top 50 Employers for Women recognizes organisations that are spearheading gender equality in the workplace.
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.
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.
Other losers in the Sensex pack included IndusInd Bank, Tata Motors, TCS, Yes Bank and L&T, falling up to 3.26 per cent.
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.
Paid Rs 15,474 cr against CIL's Rs 13,075 cr in FY15
TCS' customer focus has been central to its recent success.
TCS has received permission to invest $1 mn in Thailand.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.
TCS is recognised as a Top Employer in Latin America and North America.
Tata Consultancy Services said on Monday it will consolidate its financial products into a single business unit -- TCS Financial Solutions.
Credit Suisse thinks it possible for the company to narrow its forecast ('guidance') range.
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.
Some analysts believe underperformance of the TCS stock may continue.
ONGC's rein at the top position proved to be short-lived as it had on Thursday last week surpassed TCS to become the most value company.
Tata Consultancy Services and its Chinese partners - Beijing Zhongguancun Software Park Development, Uniware and the Tianjin Huayuan Software Area Construction and Development
Colleges are witnessing more offers, with better salary packages. Median salary packages offered have improved over last year.
At the end of trade, ONGC commanded a market value of Rs 2,89,047 crore (Rs 2,890.47 billion).
The Securities and Exchange Board of India has issued "certain observations" and "sought clarifications" on draft prospectus for Tata Consultancy Services Ltd's initial public offering.
India's largest software services firm Tata Consultancy Services (TCS) said the tenure of its Chief Executive Officer and MD N Chandrasekaran has been extended by five years to October 2019.
Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
Shares of Tata Consultancy Services (TCS) fell by 4 per cent on worries that growth may be muted.
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