Tata Consultancy Services on Thursday said it will give out one-time bonus to employees that will be cost it Rs 2,628 crore.
Everyone (with some exceptions) whose estimated tax liability is Rs 10,000 or more in a financial year must pay advance tax.
Who will replace Chandra at TCS if moves to Tata Sons?
Tech major's shareholders will receive total dividend of Rs 15,474 crore in FY15
IT services provider Tata Consultancy Services Ltd and Microsoft Corporation on Wednesday entered into a global services partnership, under which the two would jointly help in enhancing value of their IT investments.
Hospitality and travel sector players on Tuesday demanded infrastructure status for the hotel industry besides measures such as tax exemption on LTA annually to boost domestic tourism ahead of the Union Budget. They also recommended removal of the current TDS levied on automated bookings for internal or closed user groups such as business travel platforms and reducing the total number of licenses required to establish a hotel. "A full-blown infrastructure status for the hotel sector and further rationalisation of the Goods and Services Tax (GST) and a Central single window clearance for hotel projects are some of the major expectations from the Budget 2024," Roseate Hotels & Resorts CEO Kush Kapoor said in a statement.
The country's second largest employer in the corporate sector has over 300,000 men and women on its roles in 50 countries.
The finance ministry on Friday amended the foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme (LRS). The amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, will be effective retrospectively from May 16, the ministry said in a notification. "...the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India" will not be covered under LRS, the notification said while inserting Rule 7 in the FEM (CAT) Rules.
In dollar terms, TCS' market valuation rose to $84 billion.
Shares of TCS rose by 2.48 per cent to end the day at Rs 3,195.10 on the BSE, while RIL shares fell by 0.08 per cent to Rs 963.80.
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
TCS registered revenues at Rs 30,541 crore in the second quarter of 2017-18, up 4.3 per cent from Rs 29,284 crore in the year-ago period.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
IT services provider Tata Consultancy Services has acquired Phoenix Global Solutions, a Bangalore-based firm that provides technology business solutions to insurance companies, for an undisclosed sum.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
The company is accused of making a series of false promises and intentional misrepresentations.
TCS posts one of the highest volume growth and best margin performance.
The report said the gap in revenue growth between Cognizant and TCS had reached to its lowest of four percentage points in the four-quarter period ended September, 'despite TCS's larger revenue base'.
TCS said FY15 will be a better year in terms of top line growth and the deal pipeline remains strong
N Ganapathy Subramaniam, chief operating officer (COO), discusses the strategy to concert digital opportunities to larger deals, focus on reskilling own people instead of acquiring a company to get access to skillsets and demand from newer verticals in an interview with Romita Majumdar
With this, the total strength of TCS's board has increased to 11.
Mistry said he hoped the company would soon take a decision on appointing a woman as director on the board.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
Says more than 120 who lost jobs have approached it; TCS says workforce optimisation leads to some involuntary attrition, nothing out of ordinary
TCS will deliver application maintenance and support services to Chrysler. The IT services initiative will encompass a portion of the functional areas within Chrysler such as sales and marketing and shared services.
Tata Group was the only private enterprise on the itinerary of Li Keqiang during his visit to the country.
Of the top 10 valued firms, eight including Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Ltd, HDFC and ITC witnessed gains in their market valuation. From the top-10 pack, the valuation of HDFC Bank jumped Rs 31,553.45 crore to Rs 929,752.54 crore.
TCS is planning to reorganise its global operations to spur customer satisfaction and revenue growth.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
Indian software firms have been retraining their workforce in emerging technology areas, also helping them get certified
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.
These graduates will have the opportunity to spend a year training and working for TCS at its Innovation Labs and software development centres across India between 2016 and 2020.
It also gave an upbeat growth outlook, sending its shares up the most in more than eight months.
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
TCS South Africa would have an equity participation from Black Economic Empowerment groups to ensure localisation of services and skills, it said.The company has a centre in Johannesburg from where it provides support services for financial services products implemented in South Africa.
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