Tata Consultancy Services topped the list of top 10 best performing IT service providers worldwide rated by Global Services, a specialised publication for IT businesses.
The stock market's momentum will be guided by the ongoing quarterly earnings season, with Reliance Industries, HUL and Bajaj Finance among those scheduled to announce their results this week, analysts said. Focus would also remain on the COVID situation, global stock markets, investment pattern of foreign institutional investors (FIIs), rupee-dollar trend and Brent crude, they added. "The earnings season would gain pace this week and participants will be closely eyeing the results of some of the top names like Reliance, Ultratech Cement, Bajaj Auto, JSW Steel, Bajaj Finance, Asian Paints, Hindustan Unilever among others. "Before that, markets will first react to the earnings of two heavyweights -- HCL Technologies and HDFC Bank in early trade on Monday," said Ajit Mishra, VP Research, Religare Broking.
Best performers get gifts such as foreign holidays, high-end cars and mobile devices
That the flow of deals has resumed is evident from the third quarter Global TPI Index that tracks commercial contracts valued at $25 million or more.
Benchmark indices started the trade on a weak note on Wednesday with the Sensex falling 564.77 points, following feeble global market trends and persistent foreign capital outflows. The 30-share BSE Sensex was trading 564.77 points lower at 52,612.68. The NSE Nifty dipped 162.4 points to 15,687.80. Among the Sensex pack, IndusInd Bank, Hindustan Unilever, Bajaj Finserv, Titan, Kotak Mahindra Bank and Bajaj Finance were the major laggards in early trade.
Equity investors became richer by over Rs 5.77 lakh crore on Tuesday, helped by a rally in the broader market where the BSE benchmark jumped nearly 2 per cent. The BSE Sensex zoomed 934.23 points or 1.81 per cent to settle at 52,532.07. Driven by the rally in equities, the market capitalisation of BSE-listed firms jumped by Rs 5,77,006.83 crore to stand at Rs 2,40,63,930.50 crore. "Absence of fresh selling triggers in the domestic and global economy along with falling commodity prices relieved the heavily discounted equity market to showcase recovery.
Fewer working days and a stronger rupee may impact December quarter performance; rise in overall demand a positive factor.
Tata Consultancy Services (TCS), Infosys Technologies and Wipro were eliminated from the selection process for the project on technical grounds. Another IT major, HCL Technologies, was also rejected. The size of the project is not yet known.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
To get the best talent, they put stiff riders for recruitment.
Reliance Industries Ltd, the country's largest company by revenues, profits and market value, has topped Indian corporate in the World's Best Employers rankings 2021 published by Forbes. Reliance was placed at 52 in the overall ranking of 750 global corporates likes Phillips, Sanofi, Pfizer and Intel. Other Indian names in the top 100 rankings were ICICI Bank at 65, HDFC Bank at 77 and HCL Technologies at 90, according to the Forbes ranking.
Benchmark stock indices Sensex and Nifty closed with losses in highly volatile trade on Thursday as banking and financial stocks retreated amid a weak trend in global equity markets. The 30-share BSE Sensex declined 89.14 points or 0.15 per cent to settle at 57,595.68. During the day, it touched a low of 57,138.51 and a high of 57,827.99. The broader NSE Nifty dipped 22.90 points or 0.13 per cent to settle at 17,222.75.
Talent squeeze has been eroding some benefits of Indian vendors.
Technology has touched everyone's life, crossing even age barriers. HCL ME Champ tablet attempts to reach out to the tiny tots with a singular purpose - education combined with entertainment.
From the Sensex pack, NTPC, Tata Motors, Titan, Larsen & Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank and Power Grid were among the major gainers. Wipro and Tech Mahindra were the laggards.
Indian IT majors may have tightened their belts in various areas to contain costs as a fallout of the global economic slowdown. But most of them see continuing value when it comes to employee training, even though it skims crores (tens of millions) of rupees off their top-lines.
Indian IT firms have started mining smaller clients with more fervour given that the revenue accruring from their top clients has been declining due to the US slowdown and the sub-prime crisis. Consider this. Revenue accruing from the top clients of the five leading IT firms by revenue - Tata Consultancy Services, Infosys Technologies, Wipro Technologies, Satyam Computer Services and HCL Technologies - dropped by anywhere between 0.2 per cent and 4 per cent
Tata Consultancy Services (TCS) has become the first Indian company to exceed Rs 5 lakh crore in market capitalisation.
Forbes Asia on Thursday announced its 'Heroes of Philanthropy' list for the fourth year running, with four Indians among the top 48 philanthropists.
HCL Technologies empowers its staff to curb attrition increase operating efficiency.
20 Indian companies, including Infosys, Wipro, TCS, made it to the top 100 global outsourcing companies.
India is all set to make its presence felt in the $47 billion global outsourced semiconductor testing and packaging market, an arena where Malaysia and Vietnam have been way ahead so far. The Cabinet last Thursday cleared two projects, the Tata's assembly testing and packaging plant (ATMP) and the Murugappa-owned CG Power with Renesas from Japan as its tech partner. These, together with Micron's assembly and testing plant which is already being constructed in Sanad in Gujarat, will collectively invest Rs 47,300 crore to set up the factories.
The recent sell-off in IT stocks such as Infosys and Tata Consultancy Services (TCS) has resulted in a sharp decline in the IT sector weighting in the Nifty50 index. The sector's weighting in the index has slipped to a five-year low of 12.2 per cent, down from the 17.7 per cent at the end of March 2022. The top IT companies - TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra - accounted for 13.6 per cent of the index at the end of March this year.
Despite wage hikes, an appreciating rupee, and fewer working days nibbling at their profit margins during the quarter ended December 31, 2007, the five IT majors Tata Consultancy Services (TCS), Infosys Technologies, Wipro, Satyam Computer Services and HCL Technologies posted revenue and net profit figures that were in line with market expectations.
The Indian Institute of Management, Kozhikode, invites industry delegates and management students to attend its annual IT Management seminar, AIMS 2006.
Their fears were not unfounded, since the average salary increases of information technology professionals was down to 1.4 per cent for 2009.
Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
D K Shrivastava, Head of Corporate HR, HCL Technologies, shares with Get Ahead readers the details of the company's recruitment plans.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
Indian companies, led by the Tata group, Essar and HCL Technologies, among others, have created more than 30,000 jobs and made large investments in the United States, a joint report of the Federation of Indian Chambers of Commerce and Industry and the US India Business Council said.
Tata Consultancy Services (TCS), the group's biggest cash generator, overtook Vedanta to become the highest dividend payer in India in FY23. The IT services major paid Rs 42,090 crore for FY23, up 167.4 per cent from Rs 15,738 crore for FY22. The 10 biggest payers together shelled out Rs 2.06 trillion for FY23, more than double the Rs 98,371 crore for FY22.
The increases are expected to be in the 8 to 12 per cent range, which do not compare too badly with the 13 to 15 per cent increments of pre-slowdown years such as 2007-08.
Both companies, along with three others, were suspended in 2010 on grounds of irregularities.
Despite the wobble in the markets over the past few weeks, Indian equities remain expensive as measured by several yardsticks. India's market capitalisation-to-GDP ratio, for instance, has touched a multi-year high. The ratio is currently at 116 per cent, based on the FY22E gross domestic product (GDP) number, above its long-term average of 79 per cent.
Indian telecom czar Sunil Mittal and NRI businessman Anil Agarwal are among the four Indians featuring in the list of '48 Heroes of Philanthropy' compiled by business publication Forbes.
The Bangalore-headquartered company is believed to be evaluating two-three companies, which are in the revenue bracket of $100-200 million to eliminate some gaps that exist in its services offerings and increase focus on certain verticals, which have been least affected in the midst of the economic slowdown. It's reliably learnt that the company is looking at healthcare and energy and utilities as the two major areas for possible acquisitions.
The development has elicited huge response from the country's top information technology companies. At least seven players, including Infosys, HCL, Tata Consultancy Services and its subsidiary CMC, are in the fray to develop a biometric card and the infrastructure that can handle 12 million new users annually.
Equity benchmarks shrugged off lacklustre global cues to clock smart gains on Tuesday, buoyed by strong buying interest in index heavyweights Reliance Industries and HDFC twins. However, a depreciating rupee and unabated foreign fund outflows capped the gains, traders said. The 30-share BSE Sensex rallied 562.75 points or 0.94 per cent to settle at 60,655.72.
Indian IT firms have piled up net cash in excess of Rs 20,000 crore
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