Indian SMBs spent $11.9 billion in 2010 on IT and it is expected to grow to $48.5 billion by 2015.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
Murthy best performer in IT stock returns, TCS' Chandra in pole position among current chief executives.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
S Ramadorai is now the vice-chairman of Tata Consultancy Services (TCS) after being its MD and CEO for a decade. He is also advisor to the Prime Minister on the National Skill Development Council (NSDC).
To me he always symbolised the sincere, confident, face of a Bharat whose rise is unstoppable. Ratan Tata was a Rishi who was unquestioningly trusted by people who never saw him and never met him, asserts Tarun Vijay, the former BJP MP.
Experts pointed out the move will only help taxpayers temporarily, as the tax liability remained the same and the date for advance tax has not been extended.
Who will replace Chandra at TCS if moves to Tata Sons?
TCS' customer focus has been central to its recent success.
Trading sentiment in the equity markets this week will be guided by global cues, Covid-19 trends and quarterly earnings by market heavyweight TCS, analysts said. Investors will also monitor movement of rupee and crude oil as well as progress of monsoon, they added.
Indian IT services company Infosys on Thursday said all its employees in Israel are safe. Amid escalating tensions in the Middle East, Infosys CEO and MD Salil Parekh said its employees in Israel are primarily locals but declined to comment on the exact staff strength there. The company further said it is "saddened" by the situation unfolding in the region.
Among the chief financial officers, TCS' Sethuraman Mahalingam has been named the best in the country and is followed by Infosys' Vibin Balakrishnan.
Move to keep pace with tech landscape; senior employees might be affected
TCS moved into new markets like France, Japan thanks to acquisitions.
Infosys had guided for a revenue growth in the range of 11.5-13.5%, which has now been lowered to 10-12%.
IT services provider Tata Consultancy Services has acquired Phoenix Global Solutions, a Bangalore-based firm that provides technology business solutions to insurance companies, for an undisclosed sum.
In 2019-20, Gopinathan had received a total remuneration of Rs 13.3 crore. According to TCS' annual report for 2020-21, Gopinathan received Rs 1.27 crore in salary, Rs 2.09 crore in benefits, perquisites and allowances, and Rs 17 crore in commission. TCS chief operating officer N Ganapathy Subramaniam drew a pay package of about Rs 16.1 crore in the last financial year. This includes Rs 1.21 crore in salary, Rs 1.88 crore in benefits, perquisites and allowances, and Rs 13 crore in commission.
TCS will manage Diageo's global IT infrastructure, data centres and servers, in addition to providing service desk support to employees, TCS said in a statement.
'We do not see people getting reduced, but because of automation, we will do more work.'
Attractions range from start-up challenges to non-monetary perks; employee stock options also play a role.
The candidates will be selected through a National Qualifier Test. The top 1,000 will be offered a much higher salary -- almost double of that being offered to peers.
Revenue of the Mumbai-based firm grew 18.5 per cent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal.
IT major Wipro on Friday posted a 4.6 per cent year-on-year rise in its consolidated net profit for the June quarter at Rs 3,003.2 crore. The Q1 FY25 revenue of the Bengaluru-headquartered firm, however, fell 3.8 per cent to Rs 21,963.8 crore.
TCS will have to deliver higher revenues in the succeeding quarter of FY15.
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TCS' brand value grew 286 per cent from $2.3 billion in 2010 to $9.04 billion in 2016
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
Rajesh Gopinathan, who took charge as chief executive of TCS on Tuesday, said he and his newly appointed team will ensure sustenance of the company's growth momentum and continuous evolution of its strategy.
TCS is tapping an emerging opportunity called IT modernisation, which potentially could be a growth driver for the entire IT services industry for the next two to three years, says Raghu Krishnan.
'The top five IT giants are not hiring, but most of the freshers want to start their careers with the top five IT firms.' 'In today's scenario this is a challenge.'
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
Tata Consultancy Services (TCS) is likely to delay its Rajarhat campus in West Bengal, as part of a string of cost-management initiatives to cope with the pangs of the global meltdown.
The alliance would be a first for both parties, and comes after the Premier of Australia's New South Wales state, Morris Iemma, visited India recently. Ramadorai said he and other senior executives had fruitful discussions with Iemma, who led a delegation of 70.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
TCS, India's largest IT company, has appointed and approved current TCS chief operating officer and executive director N Chandrasekaran as the CEO and Managing Director-designate.
TCS became a slow-moving giant and lost some of its sheen to competitors -- both big and small. Even as TCS remains the primary cash cow of Tata Group, its revenue and profit growth have slowed considerably.
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With its Mitsubishi JV beginning operations this quarter, analysts expect meaningful revenue addition
With this, the total strength of TCS's board has increased to 11.
TCS is recognised as a Top Employer in Latin America and North America.
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.
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