The Tata group has begun its second innings with Air India from a war zone. Being first up in Operation Ganga to evacuate Indian nationals from Ukraine, the salt-to-software conglomerate has faced a real war. But the fire-fighting that the group experienced in appointing a chief executive officer (CEO) for the airline that it acquired from the government in a Rs 18,000-crore deal recently may have felt no less.
Tata Consultancy Services (TCS) on Friday reported a 14.1 per cent rise in consolidated net profit to Rs 9,624 crore in the September 2021 quarter, aided by broad-based growth across geographies and verticals. The Mumbai-based company had logged a net profit of Rs 8,433 crore (excluding adjustment towards a legal claim) in the year-ago period. Its revenue grew 16.7 per cent to Rs 46,867 crore for the September 2021 quarter from Rs 40,135 crore in the year-ago period.
TCS is aiming to add another $10 billion to its turnover in the next five years or so. Which means, the company has to grow at a compounded annual growth rate of 15 per cent. Can TCS pull it off?
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
From small restaurants to mighty software companies, it is businesses, not the government, that create jobs. Yet, in a cruel irony, they have to fight extortive and brutal State power every step of the way, says Debashis Basu.
Shrinivas Chandrasekaran, a Mumbai-based software engineer who works as a video analyst with the Bangladesh cricket team said that initially they didn't even realise that it was a terror attack.
Among the businesses that need consolidation are retail and defence
N Chandrasekaran, managing director & CEO, and S Mahalingam, chief financial officer, spoke to Business Standard on how they intend to sustain this growth in an uncertain environment.
In an interview to Shivani Shinde, Chandrasekaran spoke on the general business environment, European crisis and growing concerns on staff attrition.
The board of directors of Tata Consultancy Services (TCS) has revised the maximum salary limit of chief executive officer (CEO) and managing director N Chandrasekaran to Rs 10,00,000 per month.
In July-Sept 2016-2017, TCS had missed street expectations with 7.8% growth in revenue.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
S Ramadorai has bid farewell to Tata Consultancy Services after being with the organisation for 37 years.
However, any progress on the deal depends upon Goyal giving up control of the company.
Tata Consultancy Services (TCS) on Thursday reported an 8.4 per cent rise in consolidated net profit to Rs 6,586 crore for the second quarter ended September 30 and said uncertainties in environment had resulted in holdbacks in discretionary spend by customers.
The Reserve Bank on Friday approved the transfer of Rs 99,122 crore as surplus to the central government for the accounting period of nine months ended March 31.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC. The parties are awaiting approval from the Competition Commission of India (CCI).
Software firm Cognizant Technology Solutions will be recruiting about 18,000 IT professionals before the year end in addition to the present 38,000 workforce, a top company official said on Saturday.
Tata, who attended the annual gala event at the National Centre of Performing Arts after five years, was alluding to Chandra's presentation on the performance of the Tata group of companies.
The steelmaker's India basket grew after Tata Steel completed its acquisition of Bhushan Steel under the Insolvency and Bankruptcy Code process and its subsidiary, Tata Sponge, acquired Usha Martin.
The competition which BigBasket faces now is with the big three - Amazon, Walmart, and Reliance.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
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.
A chess buff, Neemuchwala enjoys volunteering, travelling, Indian music, reading fiction, and golf.
A team of more than 60 people under Neeraj Mittal, an IAS officer, was instrumental in getting up the New Industrial Policy 2021 targeting investments of around Rs 10 trillion by 2025.
The 14 listed Tata group companies in which Tata Sons holds a stake are paying out a record Rs 35,441 crore to their shareholders by way of dividends and share buyback for FY21.
Captains of the industry, including Adi Godrej and Anil Ambani, were among the early birds from India Inc to cast their votes in the financial capital.
Chennai-based business process outsourcing firm in human resources services, Secova eServices plans to ramp up its operations by hiring 165 people in the next one year, its co-founder V Chandrasekaran said.
Cognizant India Executive Vice-Chairman R Chandrasekaran talks to Business Standard about the experience and the way forward.
TCS, HCL Tech join Infy in reporting improved earnings, are bullish on outlook.
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TCS previously developed mobile apps for the last year's marathon, helping participants to track runners and to receive race results, information on the event, and tips for training.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
TCS employs more than 60,000 across its 13 centres in Chennai.
A division bench of Justices Ranjit More and Bharati Dangre on Monday quashed and set aside the proceedings.
In 2015-16, Sikka as CEO took home Rs 48.73 crore as salary (including, bonus and incentives), which is the highest among peers.
Cognizant jumps 13 ranks to become 4th most valued.
