Tata Consultancy Services posted 29.93 per cent jump in consolidated net profit at Rs 2,369.83 crore (Rs 23.69 billion) for the third quarter ended December 31, 2010. The company has announced 200 per cent dividend. It has declared the third interim dividend of Rs 2 per equity share of Re 1 each.
The quantum of hiring is likely to remain the same as that of the past financial year.
US President Barack Obama has already backed the Bill that seeks to put curbs on the use of H-1B visa for those companies which have a higher ratio of work force under this category.
Indian companies must avoid the 'classic trap' of market expectations and the consequences of earnings guidance are often 'not very healthy,' S Ramadorai, TCS boss said.
India's second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
The US district court of Northern California on Monday allowed two former employees of I-T giant Tata Consultancy Services Ltd to proceed with a class action lawsuit against their former company over wage dispute and breach of contract.
TCS South Africa would have an equity participation from Black Economic Empowerment groups to ensure localisation of services and skills, it said.The company has a centre in Johannesburg from where it provides support services for financial services products implemented in South Africa.
In a bid to reduce costs and increased offshoring focus, Tata Consultancy Services, India's largest information technology company, has recalled close to 1,200 employees from the US and has decided not to hand out any salary increment this year.
A high-level three-member committee is formed to grow awareness about fraudulent job offers.
The days of heady annual increments and bonuses are over - at least for now - for IT employees.
TCS is also seeking more time for setting up a unit in Mihan special economic zone at Nagpur in Maharashtra.
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.
With top Indian software giants like Tata Consultancy Services, Infosys and Wipro setting up and expanding operations in China, the domestic players have started feeling the heat.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
Faced with budget constraints and margin pressures, Indian IT services providers such as Tata Consultancy Services, Infosys, Wipro and HCL are moving more work offshore (to India) rather than onsite (at the client's site) in a bid to contain costs.
Tata Consultancy Services plans to recruit around 4,000 software professionals in the next one year, notwithstanding global slowdown, a top company executive said.
The TCS CEO spoke about the IT major's operations in Canada.
The company said these numbers represented the offers made to only engineering students at Indian campuses and the final hiring target for 2012-13 would be announced by the end of March.
TCS Q1 FY'13 consolidated revenue up 37.71 per cent at Rs 14,868.71 crore.
On the other hand, the group's two traditional cash cows, TCS and Tata Motors' subsidiary Jaguar Land Rover, are slowing as other businesses pick up pace
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.
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines. According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure among the favourite picks by the equity funds in the month of May.
Infosys, TCS, Wipro, Cognizant and Satyam and Bharti Tele-Ventures figure in the elite list.
IT services major Wipro on Tuesday said its up to Rs 9,500-crore share buyback programme will commence on December 29 and close on January 11, 2021. Last month, shareholders had approved Wipro's buyback plan for purchase of up to 23.75 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore. "...the company received final comments from the Securities and Exchange Board of India on December 21, 2020, with respect to the Draft Letter of Offer filed by the company for the captioned buyback...the company will dispatch the Letter of Offer to eligible shareholders," Wipro said in a regulatory filing.
Tata Consultancy Services, the country's largest IT company, has changed its hiring strategy and will focus on just-in-time hiring or real-time talent management."TCS has decided to adopt the policy of real-time management whereby we will hire in the last three months of the final year of graduation rather than a year before," said S Ramadorai, managing director and chief executive officer, TCS.
Tata group company and IT major Tata Consultancy Services (TCS), on Friday said that it has clocked a net profit of Rs 1,534 crore (Rs 15.34 billion) in Q1 FY 10, up 19 per cent as compared to the year-ago period of Rs 1,290.61 crore (Rs 12.90 billion).
A strident bill concerning US work visas for non-US citizens has been re-introduced before the US Senate. A look at the bill.
Tata Consultancy Services has acquired the remaining 49 per cent stake in its Brazilian joint venture for $33.4 million, giving the company 100 per cent ownership.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
Wipro is close to setting up an IT park in Nagpur and is believed to have acquired 117 acres of land at the new special economic zone in the city.
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.
Scouting for talent in metros and larger towns is expensive. The cost of acquiring candidates at the entry level jobs for most IT, ITeS companies is estimated to be 15-17 per cent less than those in the metros and tier 1 cities.
Over 6,500 would be recruited through campus recruitment.
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