Together with its share buyback worth Rs 16,000 crore completed in January this year, TCS shareholders will receive a record Rs 30,250 crore from their company in FY21.
Amid the controversy over the introduction of a bill proposing to ban L1 visas under which intra-company transfers take place to the US, Tata Consultancy Services said on Wednesday that though the company is concerned about the situation.
"Though some of our clients are affected, they have not reduced their work (IT outsourcing) with us. We just have to watch the situation," company's chief executive officer and managing director S Ramadorai said.
Tata Consultancy Services, India's largest software exporter, will embark on a massive brand building exercise, starting early next fiscal and said it expects its joint venture subsidiary with Microsoft in China to be operational by June this year.
"India is one of our focus markets, where we have crossed $500 million in (annual) revenue. Our India business has been growing in double digits for the last few years and we expect to continue this, as IT spending in the country is expected to rise further," said N Chandrasekaran, executive director and chief operating officer of the company. India contributed close to 8 per cent to the company's Rs 278.13 billion turnover in fiscal 2008-09.
Tata Consultancy Services plans to open its third IT centre in China in the current fiscal and increase its headcount five-fold to 5,000 by 2010, a senior official said on Friday.
Leading information technology services company Tata Consultancy Services would add a net of 13,500 people this year, chief executive officer and managing director S Ramadorai said on Saturday.
Tata Consultancy Services on Thursday posted a net profit of Rs 643.81 crore (Rs 6.44 billion) for the third quarter ended December 2004.
ICICI Bank joined the likes of Reliance Communications, Infosys and Tata Consultancy Services on Monday in the Rs 1-trillion market valuation club.
Global banking major ABN Amro has signed a Euro 1.8 billion ($2.22 billion) contract with five IT vendors: Tata Consultancy Services, Infosys, Patni Computers, IBM, and Accenture.
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At present, TCS is the only company with a market value of over Rs 4 lakh crore.
While Mcleod Russel, ADF Foods, Indiabulls Real Estate, DCM Shriram and BSE have announced buyback through open market route, the remaining 23 companies plan to buy back their shares via tender offers
Tata Consultancy Services (TCS) announced on Tuesday that it will become the title partner of the London Marathon from 2022, following this year's race on October 3. TCS said it has signed a six--year partnership with the mass sporting event.
'The impact of CEO transition is fairly even for stocks, with about half (53 per cent) of the events not producing any change in the relative performance of the stock.'
The Tatas on Saturday fixed the price of Rs 850 a share for the Tata Consultancy Services initial public offer for selling 5.54 crore (55.4 million) shares to mop up about Rs 4,700 crore (Rs 47 billion).
India's largest software exporter Tata Consultancy Services on Wednesday posted a consolidated net profit of Rs 1,290.61 crore (Rs 12.90 billion) for the first quarter ended June 30, 2008, an increase of 7.3 per cent compared to the year-ago period.The group had recorded a consolidated net profit of Rs 1,202.93 crore (Rs 12.02 billion) for the corresponding period a year ago, it said in a filing to the Bombay Stock Exchange.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Tata Consultancy Services has acquired 75 per cent equity stake in its Switzerland-based partner, TKS-Teknosoft, from the promoter for Swiss francs 100.5 million (about $80.3 million).
The Q2 revenues of the company stood at Rs 6,953 crore (Rs 69.53 billion), up 8.5% over the previous quarter.
The TCS total income for the quarter stood at Rs 5,203 crore, up 25.2 per cent as against Rs 4,225.62 crore (Rs 42.246 billion) in Q1 FY07.
'A cutback in hiring and compensation growth by IT companies will have a significant impact on consumer demand, especially in the urban sector of the economy.'
High interest costs and a weak rupee may raise overall debt, even as refinancing may not be an issue.
Top Indian IT services companies - TCS, Infosys, Wipro and HCL Tech - have said that they would continue to hire freshers through campus interviews, though lateral hiring will be mostly on exception basis.
The company believes that the knowledge base of these candidates is as strong as their counterparts belonging to bigger cities. Eligibility criterion for trainees would be a minimum 60 per cent score in all the degrees attained.
The appreciating rupee has taken its toll on Tata Consultancy Services' June quarter numbers, with the top line growing just 1per cent sequentially in rupee terms to Rs 5202.8 crore (Rs 52.02 billion).
On Friday, the stock was the worst hit among the 30 blue-chips on the Sensex
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Tata Consultancy Services is to expand its existing training college located at Technopark, Thiruvananthapuram, in Kerala, and make it the company's global hub for training.\n\n\n\n
Given the potential for growth, IT major, Tata Consultancy Services, is looking at hiring 8,300 trainees and around 3,000 laterals or experienced persons in Q4 FY10, a senior company official said.
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