Tata Consultancy Services (TCS) on Wednesday announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share. In 2017 and 2018 too, TCS had undertaken buyback offers of similar sizes.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
The buyback offer saw subscription of approximately 1.47 times the maximum number of equity shares proposed to be bought back
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Thierry Delaporte's pay package would be around 34 per cent higher than the total compensation that Wipro CEO Abidali Neemuchwala received in financial year 2019-20 (FY20). It also brings the Wipro CEO's salary on par with other top IT firms such as Infosys and Cognizant.
At TCS, Chandrasekaran would be succeeded by Rajesh Gopinathan, currently the company's chief financial officer.
While industry leaders Tata Consultancy Services and Wipro have announced deferring wage-hike plans, other players such as Infosys and HCL Technologies are expected to follow suit, according to industry insiders.
The number of applications filed for H-1B visa this year was around 40 per cent higher than a year ago.
Revenue up 15.8% at Rs 34,261 crore over year-ago period.
TCS moved into new markets like France, Japan thanks to acquisitions.
In a setback to efforts by Italy to secure release of its two marines charged with murder of two Indian fishermen, the Kerala high court on Tuesday turned down its plea for quashing an FIR against them, holding that they were liable to penal jurisdiction of Indian courts.
In an online chat with readers on January 9, 2012, Vimal Gopinathan and Naveenan Ramachandran, experts from 4GMAT addressed reader queries related to the GMAT examination.
The Kerala high court on Thursday ordered release of Italian ship Enrica Lexie, detained off Kochi port for over a month in connection with the gunning down of two Indian fishermen allegedly by marines aboard the vessel.
Currency volatility to have negative impact of 275 bps
In two online chats with readers on December 26, 2011 and January 2, 2012, experts Naveenan Ramachandran and Vimal Gopinathan from 4GMAT addressed reader queries related to cracking the GMAT exam and offered advise on how to prepare and score better.
Strong deal wins and a good pipeline positions TCS very well in the new fiscal, TCS chief operating officer and executive director N Ganapathy Subramaniam said.
In a significant victory, India has been elected to a prestigious United Nations body, defeating China in a direct fight for the lone seat from the Asia-Pacific region, to return to the powerful external oversight body after a gap of 35 years.
The Kerala high court on Thursday came down on the state government for failing to foresee the Pulmedu stampede in which 102 pilgrims were killed."If you provide unrestricted flow of pilgrims, necessary safeguards need to be issued or completely prevent the pilgrims from taking the Pullmedu route," a division bench comprising Justice Thothathil B Radhakrishnan and Justice P S Gopinathan said.The bench has been monitoring the Sabarimala pilgrim season since January 5.
Division bench comprising Justice Thottathil Radhakrishnan and P S Gopinathan directed the Police, Forest and Travancore Devaswom board to file reports regarding the reasons for the accident.
In a setback to the relatives of the 158 people killed in last year's Mangalore air crash, the Kerala high court on Thursday set aside a single judge order directing Air India to pay a minimum compensation of Rs 75 lakh each to them.
The company has declared a dividend of Rs 7 per share.
According to the police, Ramkumar allegedly killed Swathi after he reportedly told Swathi that he was in love with her, which she rejected.
Revenue rises 20.7% to Rs 36,854 crore.
The Kerala High Court on Wednesday dismissed a PIL seeking a direction not to prohibit singer K J Yesudas from entering the famous Guruvayur Sri Krishna temple to worship.
The year is coming to an end and overall, it's been one hell of a year! We have had our share of ups and downs and we look forward to a better 2020. While we count down the days to the new year, let's also reflect on those who gave us strength to stand up in what we believe, the courageous who didn't bow down and the ones with gumption who inspired us to be better. We, Rediff.com, have selected 26 personalities, who we think are worthy of the title -- HERO OF THE YEAR -- and we want you, dear readers, to choose your hero!
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
The campus placements process usually starts in July-August, but is likely to start earlier this year.
Jammu and Kashmir's mainstream political parties, including the National Conference and the PDP, formed the Gupkar alliance on October 15 for restoration of special status of the erstwhile state and also to initiate a dialogue between all the stakeholders on the issue.
HDFC Bank, Reliance Industries and Housing Development Finance Corporation (HDFC) -- with free-float market cap of over Rs 3 trillion -- have the highest weight in the Sensex and the Nifty.
Walmart CEO Douglas McMillon came first in the CEOWORLD magazine's global ranking of the best chief executives across all industries for 2019.
TCS registered revenues at Rs 30,541 crore in the second quarter of 2017-18, up 4.3 per cent from Rs 29,284 crore in the year-ago period.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
President A P J Abdul Kalam administered the oath of office and secrecy to Justice Balakrishnan, 61, at a ceremony in Ashoka Hall at Rashtrapati Bhavan.
Balakrishnan will be the 37th Chief Justice of India and the first Dalit to reach the pinnacle of judiciary.
N Chandrasekaran received Rs 2.62 crore (Rs 26.2 million) as perks.
The CEO's compensation included a fixed salary component of Rs 6.07 crore, variable pay of Rs 10.96 crore and perquisites worth Rs 7.64 crore.
For the entire 2016-17, TCS saw its net profit growing 8.3 per cent to Rs 26,289 crore while revenue was up 8.6 per cent at Rs 117,966 crore
"Protectionism is not new. The attention that is given is because there is a political and emotional element to it." TCS COO N G Subramaniam on why his company is optimistic despite global headwinds.
Though global IT services spending is likely to cross the $1-trillion mark to reach $1.031 trillion, growth rate will slow to 3.8% in 2019, compared to 6.7% last year according to reports
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