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.
Industrial production and inflation data, quarterly earnings from IT majors and global trends would drive the equity markets in a holiday-shortened week, analysts said. Moreover, foreign fund trading activity, movement of the rupee and global crude oil prices would also dictate terms in the market, they added. Equity markets would remain closed on Friday for 'Dr Baba Saheb Ambedkar Jayanti'.
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).'
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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.
Tata Consultancy Services (TCS), India's largest information technology services firm, has decided to revise the monthly salary of Chief Executive Officer (CEO) and Managing Director N Chandrasekaran by half to Rs 15 lakh.
India's largest software exporter Tata Consultancy Services has been selected to set up the State Data Centre in Uttar Pradesh for the e-delivery of government services.
N Chandrasekaran saw his annual compensation rise to Rs 25.6 crore.
Tata Consultancy Services Ltd and Microsoft were selected as strategic partners by Sino-India Cooperative Office of China to set up a software joint venture company for IT outsourcing services and solutions to both global and domestic market.
Tata Consultancy Services scrip ended the day 4.27 per cent higher at Rs 2,214.65 apiece on the BSE.
The scope of the project covers end-to-end IT infrastructure services, which will be provided from TCS' global delivery centres in the Netherlands, Hungary and India, TCS said in a statement.
Layoffs are just an event in life, not life itself. Life's canvas is very large; fill it with wonderful new colours; colours of your choice.
IT company Tata Consultancy Services and aircraft design company Hindustan Aeronautics Ltd have entered into a strategic partnership to provide engineering solutions for the global aerospace industry.
Companies which have been dropped from the list include Tata Motors, Hindustan Unilever, MRF, Glaxo SmithKline Consumer Healthcare, Pfizer, Dr Reddy's Labs, Glenmark Pharmaceuticals, HDFC and Kotak Mahindra Bank
IT majors TCS, Wipro and Satyam have evinced interest to set up software development units in Punjab.
TCS expects the October-December quarter volumes to be lower due to lesser working days.
After announcing a cut in the employees' salaries, IT major TCS has asked 500 employees to quit their jobs after a performance appraisal.
In an internal note sent to employees, TCS said the company had not met its the third quarter internal economic value-added (EVA) target. The company plans to make up for the losses with a cut the variable pay.
TCS Vice-President (Business Development) Mario Tucci has been appointed as the country manager of the new unit which comprises a global delivery centre and regional training centre in Montevideo and an extension unit in Buenos Aires.
TCS is also seeking more time for setting up a unit in Mihan special economic zone at Nagpur in Maharashtra.
Tata Consultancy Services on Monday said China's Hua Xia Bank has selected its core banking solution of Financial Network Services to facilitate the bank's technology-powered business transformation.
The second-quarter results of the major Indian software companies threw up few surprises.
Any changes in the visa regime may result in higher operational costs and shortage of skilled workers for the $110 billion Indian outsourcing industry.
The announcement comes in the wake of outsourcing and the ensuing flight of jobs to cheap labour countries like India becoming a contentious issue in the developed world.
Tata Consultancy Services TCS) said it has bagged a Rs 85-crore three-year deal for implementing smart card-based Financial Inclusion Solution (FIS) for Indian Bank.
Plans over $1 bn equity sale to fund group buyouts.
The appreciating rupee has taken its toll on Tata Consultancy Services' June quarter numbers, with the top line growing just 1per cent sequentially in rupee terms to Rs 5202.8 crore (Rs 52.02 billion).
The company also does not have a target on the number or percentage of the working staff when it comes to women, it said.
The Nifty IT Index, the gauge for the performance of information technology (IT) stocks, was the worst performer on the stock exchanges on July 29, a day after Infosys posted lower-than-expected earnings growth for the June quarter and sharply cut its revenue growth guidance for 2023-24 (FY24). The IT index was down 4.1 per cent, its biggest one-day fall in three months. The decline was led by Infosys, with its shares plunging nearly 8 per cent, followed by HCLTech (-3.2 per cent), Wipro (-3.0 per cent), and TCS (-2.7 per cent).
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
State-owned Life Insurance Corporation of India (LIC), which completes one year of its listing on Tuesday, presents a sorry scorecard as far as its stock market performance goes. Shares of the insurance behemoth are down 40 per cent over their issue price of Rs 949 to Rs 567 apiece. The Sensex, on the other hand, has risen 14 per cent in the past one year.
India's largest information technology services provider, Tata Consultancy Services (TCS), beat analyst expectations on both net profit and operating margins during the fourth quarter ending March 31.
The firm now has employee strength of 344,691.
Infosys, however, remains the 'dream company' in the IT arena, while MNCs occupy the maximum mindshare of professionals.
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