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.
The project will be commissioned in phases, official sources said on Thursday.
While Tata Consultancy Services, HUL, ITC and Infosys saw a rise in their market capitalisation (m-cap) for the week ended Friday, RIL, HDFC Bank, HDFC, Maruti Suzuki India, SBI and Kotak Mahindra Bank suffered losses.
The company also plans to recruit over 3,000 people on onsite in countries like Brazil, Uruguay, China and in Latin America, among others.
India's top IT company Tata Consultancy Services Ltd plans to make Chennai its biggest centre over a period of time, replacing Mumbai where it is headquartered now, a top company official said.
In October, the company had announced that it will hire 35,000 freshers.
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.
TCS will acquire 20.67 per cent in WTI Advanced Technology for which it has reached an agreement with the International Finance Corporation, the private lending arm of the World Bank.
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.
With the addition of these two directors, the total Board strength of the company increases to 14 which include seven independent directors, including O P Bhatt, Tata Consultancy Services said.
The centre in Riyadh will be staffed by Saudi females and will start by catering to Saudi Aramco and GE as anchor clients.
TCS employs more than 60,000 across its 13 centres in Chennai.
The Maharashtra government has formed a joint venture with Tata Consultancy Services to step up its efforts to provide online citizen services.
The much-awaited TCS IPO opened on Thursday, to a lukewarm response. The offer has been subscribed 91.08 per cent on the first day, and most bids are at Rs 775.
However, the company has not revealed the financial details of the deal.
The estimated value of these two firms is around Rs 200 crore.
India's largest IT services firm Tata Consultancy Services has bagged a $100 million (nearly Rs 450 crore) deal from US healthcare company Kimberly-Clark.
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.
In an interesting move, S Ramadori, chief executive officer and managing director of information technology major Tata Consultancy Services, recently said that TCS may provide IT services to casinos in Macau.
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.
A new survey of school children by IT major TCS has found that the next generation is embracing digital world as true digital natives and shifting their academic and social life online.
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.
Global IT services major Tata Consultancy Services Ltd is planning to tap emerging markets, including the Philippines and Shanghai, with its E-Clear Settle, a financial and settlement suite.
The country's largest software exporter, Tata Consultancy Service, on Monday said some Satyam Computer clients have turned to the Tata company on their own, adding it would not approach the clients of the scam-tainted firm.
The data centre will act as a disaster recovery platform.
NTPC and NHPC, which together own a third of India's electricity generation, have roped in state-owned power sector financing firm, Power Finance Corporation for the joint venture along with TCS. "We (referring to NTPC and NHPC together) are the largest power generators and we hope to create a market for this," said NTPC Chairman and Managing Director R S Sharma.
India's largest software exporter, Tata Consultancy Services (TCS), says it will see more deals in its infrastructure services (IS) business in the $5-10 million range this year than in the $15-100 million one.
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