Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
Employees face a bleak future, CPI (M) said.
During the first three quarters of 2014-15 alone, TCS has made a lateral hiring of over 1,500 experienced professionals with core digital skills.
Software major TCS will sign an MoU with Kerala government on Saturday for setting up of a Rs 1,000 crore Global Training Academy in Thiruvananthapuram.
While the software industry continues to reel under a recession, Tata Consultancy Services, has seen the exit of 5,000 employees.
TCS said trainees joining it this fiscal would not be eligible for variable pay of about Rs 5,000 a month in the first six months.
TCS completed its highest ever hiring of over 90,000 new employees globally during the year.
TCS emerges as a safe haven, as Infosys stumbles for sixth straight quarter.
Some employees are happy with their company.
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.
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.
In 10 years, the company has created several milestones but, more important, also created multiple-fold wealth for investors.
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.
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 chief executive officer Natarajan Chandrasekaran gave this assurance to Orissa Chief Minister Naveen Patnaik during a meeting in Bhubaneswar.
The company has been able to help clients to transform their business and beat cost during the slowdown.
While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
BusinessWeek in its '2007 Information Technology 100 listing' has placed TCS on 23rd position among world's leading IT companies.
The overall market breadth was marginally positive as 1,218 stocks advanced against 1,116 declining ones, on the BSE.
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.
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.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
ONGC, RIL, ITC, CIL, HDFC Bank, SBI and ICICI Bank saw erosion in their m-cap
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.
TCS ruled the domestic market cap chart in ranking, followed by RIL, HDFC Bank, ITC, Infosys, HDFC, CIL, Sun Pharma, HUL and ONGC
The total employee strength of the company stood at 2,14,770 at the end of the September quarter.
Another negative surprise in HCL's numbers was the decline in the margin by 40 basis points to 21.4 per cent.
Indian IT services major TCS will open a global delivery centre in Mexico next year.
Even as the slowdown in the information technology (IT) services sector deepens, banking, financial services and insurance (BFSI), as well as oil and gas companies, emerge as the primary drivers of corporate earnings in the country. The IT services sector's share in corporate earnings declined to a five-year low of 17.4 per cent in the second quarter (Q2) of 2023-24 (FY24), whereas banks and finance companies accounted for 46.5 per cent, and oil and gas firms contributed 16.8 per cent. At their peak, IT services firms like Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro represented just over a third of the combined net profit of all listed companies in the Business Standard sample.
Billionaire Mukesh Ambani's Reliance Industries Ltd is the most valuable private company in the country, as per Hurun India's 2022 Burgundy Private Hurun India 500 list. The list, which was released on Tuesday, stated that with a value of Rs 16.4 lakh crore, Reliance is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore. Reliance is also the highest taxpayer with a payout of Rs 16,297 crore and the most profitable company with a bottomline of Rs 67,845 crore in 2022-23.
H-1B visa is a non-immigrant visa, which allows US employers to temporarily employ foreign workers in speciality occupations
TCS is stepping into an unchartered territory by targeting the small and medium enterprises.
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.
.jpg)
At present, TCS is the only company with a market value of over Rs 4 lakh crore.
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?
TCS chief executive officer (CEO) N Chandrasekaran earned a total of about Rs 18.68 crore in the 2013-14 fiscal.
