The TCS board approved a special compensation of Rs 5 crore (Rs 50 million) over and above the Rs 3-crore (Rs 30-million) commission due to him for the last financial year.
The country's largest information technology (IT) service provider, Tata Consultancy Services (TCS) is all set to expand its footprint in West Bengal, according to state IT minister Partha Chatterjee.
In 10 years, the company has created several milestones but, more important, also created multiple-fold wealth for investors.
Benchmark equity indices continued their record-shattering spree on Tuesday, with the Sensex and Nifty hitting their fresh all-time high levels in early trade, amid persistent foreign fund inflows. Also, buying in Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and HDFC twins added to the positive market momentum. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 381.55 points to hit its all-time peak of 65,586.60 in early trade.
TCS chief executive officer Natarajan Chandrasekaran gave this assurance to Orissa Chief Minister Naveen Patnaik during a meeting in Bhubaneswar.
IT services major Wipro is reconsidering a proposal of buy back of equity shares, said the company in a regulatory filing. A final decision on this will be taken during the board meeting to be held on April 26-27. The outcome of the board meeting will be communicated to the stock exchanges soon after conclusion on April 27.
N Chandrasekaran, managing director and CEO of Tata Consultancy Services, talks to Business Standard on the growth outlook and why the current slowdown is unlike the one in 2008.
TCS ruled the domestic market cap chart in ranking, followed by RIL, HDFC Bank, ITC, Infosys, HDFC, CIL, Sun Pharma, HUL and ONGC
The company has been able to help clients to transform their business and beat cost during the slowdown.
From car electronics to safety, aerodynamics to trouble-shooting, TCS will work with the Ferrari F1 team to provide IT-based solutions before, during and between races.
Asian Paints dropped the most by 1.33 per cent. IndusInd bank fell 1.2 per cent, Axis Bank by 1.19 per cent, SBI by 1.12 per cent, Bajaj Finance by 1.07 per cent, Nestle by 1.04 per cent, and TCS by 0.97 per cent. Hindustan Unilever, Reliance Industries, Power Grid and Kotak Bank also retreated. Maruti Suzuki was the lead gainer, rising by 2.22 per cent.
The overall market breadth was marginally positive as 1,218 stocks advanced against 1,116 declining ones, on the BSE.
While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
India's largest IT services firm Tata Consultancy Services on Wednesday said it won a contract from Eli Lilly to provide various drug development services to the US pharma firm.
ONGC, RIL, ITC, CIL, HDFC Bank, SBI and ICICI Bank saw erosion in their m-cap
The earnings season this financial year is expected to start on an exciting note, as two information technology (IT) behemoths Infosys and Tata Consultancy Services (TCS) report their first quarter numbers on the same day. By now, TCS is expected to report a better set of numbers than Infosys.
The Microsoft-TCS virtualisation CoE is a joint initiative by the companies to accelerate the adoption of virtualisation technology in India, TCS said in a filing to the Bombay Stock Exchange on Tuesday. Virtualisation is the creation of a virtual (rather than actual) version of something, such as an operating system, a server, a storage device or network resources. This helps companies in cutting costs and optimising resources.
Another negative surprise in HCL's numbers was the decline in the margin by 40 basis points to 21.4 per cent.
BusinessWeek in its '2007 Information Technology 100 listing' has placed TCS on 23rd position among world's leading IT companies.
The total employee strength of the company stood at 2,14,770 at the end of the September quarter.
H-1B visa is a non-immigrant visa, which allows US employers to temporarily employ foreign workers in speciality occupations
Earning woes drag markets lower; TCS, HUL lead fall.
Does India's most valued company give hope to its investors that they, too, might drive a Jaguar some day?
Country's largest software exporter Tata Consultancy Services on Tuesday said it has set up a software development and delivery center in North America with a capacity of 1,000 seats to cater to the customers there. The center located in Milford, Ohio, a suburb of Cincinnati, can accommodate up to 1,000 associates, TCS said in a statement. Cincinnati and the Ohio region met all TCS' criteria in terms of proximity to customers, strong talent pool and 10 Fortune 500 Companies.
He however said, US has been a very welcoming market for TCS and has provided it with a fair, open and competitive environment
TCS chief executive officer (CEO) N Chandrasekaran earned a total of about Rs 18.68 crore in the 2013-14 fiscal.
Indian IT services major TCS will open a global delivery centre in Mexico next year.
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At present, TCS is the only company with a market value of over Rs 4 lakh crore.
TCS reported a 5.8 per cent rise in revenue at Rs 27,165 crore.
TCS is stepping into an unchartered territory by targeting the small and medium enterprises.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
The complaint was filed by non-US employees Gopi Vedachalam and Kangana Beri, who were sent from India to the US to work on projects.
'We expect realisation will be flattish for the rest of the fiscal (year).'
Tata Consultancy Services (TCS), the country's largest information technology (IT) services provider, has planned to launch what it terms 'SME Cloud' in a fortnight. Under which, it would provide hosted services for enterprises having a Rs 50-500 crore turnover.
Nine of the top-10 most-valued firms together added Rs 111,012.63 crore in market valuation last week, with Tata Consultancy Services and HDFC Bank emerging as the biggest gainers. Reliance Industries was the only laggard from the top-10 list. The valuation of Tata Consultancy Services jumped Rs 24,635.68 crore to reach Rs 13,82,280.01 crore.
Software services provider, Tata Consultancy Services, is aiming to achieve $4 billion in revenue by the end of fiscal 2007, growing at 30 per cent, its CEO and MD S Ramadorai said on Tuesday.
N Chandrasekaran saw his annual compensation rise to Rs 25.6 crore.
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The IT bellwether currently has about 28,000 employees in West Bengal in different facilities and it expects to recruit around 4,000 more in the current year.
The number of applications filed for H-1B visa this year was around 40 per cent higher than a year ago.
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