The board of directors of Tata Consultancy Services (TCS) has revised the maximum salary limit of chief executive officer (CEO) and managing director N Chandrasekaran to Rs 10,00,000 per month.
Indian IT services companies are set to significantly increase their acquisition spending to $6.5-7 billion this year, up from $5 billion last year, as they seek to boost revenue and capabilities in areas like Cloud, data, enterprise platforms, and AI amidst a challenging economic environment.
While FY25 attrition rates remained below pre-Covid levels, most companies experienced a 1 to 3 percentage point increase compared to FY24.
The TCS CEO spoke about the IT major's operations in Canada.
While TCS cited evolving business needs and future readiness as reasons, industry experts say the action is a cost-cutting measure aimed at improving operating margins that have remained below the firm's aspirational range despite multiple efforts.
TCS chief executive officer (CEO) N Chandrasekaran earned a total of about Rs 18.68 crore in the 2013-14 fiscal.
Krithi Krithivasan is the kind of person one might look to when the need is to calm things down and put things back on track.
K Krithivasan, chief executive officer (CEO) and managing director (MD) of TCS, took home a salary of Rs 25.4 crore in 2023-24 (FY24), less than chief operating officer and executive director N Ganapathy Subramaniam. Krithivasan took charge as CEO on June 1, 2023.
TCS chief operating officer N Ganapathy Subramaniam earned over Rs 11.61 crore in FY19 as compared to Rs 9.29 crore last fiscal.
TCS CEO S Ramadorai discusses issues like increasing salaries, price pressures and how the industry needs to tackle the future.
While Infosys never had a presence, Wipro's Venezuelan unit was liquidated many years ago.
IT services major Wipro on Friday reported a 7 per cent decline in consolidated net profit to Rs 3,119 crore in the third quarter of FY26, weighed by a one-time provisional impact of Rs 302.8 crore due to the implementation of new Labour Codes.
N Chandrasekaran received Rs 2.62 crore (Rs 26.2 million) as perks.
'4 lakh to 5 lakh people graduating in computer science getting jobs in software companies will not happen.'
Tata Sons chairman N Chandrasekaran on Thursday skipped the Annual General Meeting of Tata Consultancy Services (TCS), marking his absence from the group's shareholder gathering for the second consecutive day. This is the first time in over 17 years that Chandrasekaran, who was elevated as the chairman of the diversified conglomerate after working as TCS's chief executive, has missed the AGM of the largest IT services company.
In an event-heavy week ahead, stock markets are expected to track Q3 corporate earnings from several blue-chip firms, including TCS and Infosys, while inflation data and global trends would also dictate investors' sentiment, analysts said.
The US has replaced random H-1B selection with a wage-weighted lottery and a new $100,000 fee for applications, raising uncertainty for students and junior hires.
The executive remuneration for FY2020 is lower than FY2019 in view of the economic conditions impacted by the COVID-19 pandemic. The directors have decided to moderate the executive remuneration for this year to express solidarity and conserve resources.
Benchmark indices Sensex and Nifty ended marginally higher on Wednesday as a sharp decline in IT blue-chip stocks restricted the rally in the markets.
Infosys on Wednesday reported a one-time exceptional hit of Rs 1,289 crore on account of the impact of the implementation of new labour codes, as India's second-largest IT services firm announced its December quarter earnings.
AI is changing how IT companies hire, with skills like learning fast and solving problems now more important than degrees.
From the 30-Sensex firms, Trent, Larsen & Toubro, Reliance Industries, InterGlobe Aviation, Maruti, ITC, Adani Ports and Bharat Electronics were among the biggest laggards. In contrast, Eternal, ICICI Bank, Tech Mahindra, State Bank of India and Tata Consultancy Services were among the gainers.
IT major TCS CEO Rajesh Gopinathan has reigned, and the company nominated its global head of the BFSI division K Krithivasan as the CEO Designate with immediate effect, the firm said on Thursday. Gopinathan will continue with the company till September 15, 2023, to provide transition and support to his successor.
Benchmark stock indices Sensex and Nifty dived sharply by nearly 2 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed a hike in the Securities Transaction Tax (STT) on derivatives. Reversing the early gains, the 30-share BSE Sensex plunged sharply by 2,370.36 points or 2.88 per cent to slide below the 80,000-mark at 79,899.42 in afternoon trade as the finance minister announced a hike in STT on futures contracts to 0.05 per cent from the current 0.02 per cent.
With discretionary spending still under pressure, the information technology (IT) services industry continued to face an uncertain demand environment in the third quarter of 2025-26 (Q3FY26).
Macroeconomic data announcements, global trends and trading activity of foreign investors would be major driving factors for market movement this week, analysts said. Unabated capital infusion by domestic institutional investors have supported the positive trend in the stock market last week, traders said.
TCS's mcap crossed $100 billion in 2018, 13.5 years after the IPO. It took only four more years to double its mcap to $200 billion.
Most global as well as domestic brokerages are upbeat on India's largest IT services provider, Tata Consultancy Services (TCS), despite its performance during the December quarter of FY25, when it missed Street estimates. On the bourses, the TCS share price rallied as much as 6.44 per cent to hit an intraday high of Rs 4,296.80 apiece, before settling 5.67 per cent higher at Rs 4,265.55.
'Government officials use Gmail and ordinary phones without basic security consciousness.' 'Interoperability, especially in joint exercises with countries like the US, worries me.' 'It often means we open our systems to them, but they don't reciprocate.' 'They could have kill switches in their systems and might even be able to affect ours.'
The buyback, at Rs 2,100 per equity share, entails up to 7.61 crore shares or 1.99 per cent of the total paid up equity share capital.
TCS CEO and MD Rajesh Gopinathan said the company believes the coronavirus impact has "bottomed out" and that TCS should now start tracing its path to growth.
Trading sentiment in the equity market will be guided by macroeconomic data announcements, global trends and quarterly earnings from IT major TCS this week, analysts said. Stock markets would also be tracking trading activity of foreign investors who remained net sellers of Indian equities in September.
India's largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its up to Rs 16,000-crore share buyback programme will commence on December 18 and close on January 1, 2021. Last month, TCS shareholders had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at Rs 3,000 per scrip for an aggregate amount not exceeding Rs 16,000 crore.
'Perhaps unlike any previous era of software, this one requires a rethink in even the lifecycle of how we build.'
'Earlier there was no provision for considering TCS collected from the taxpayer for overall tax computation.' 'Now, credit will be given by the employer for TCS already collected to consider net tax to be deductible.'
'Companies will need to revisit compensation structures, contracts, staffing models, and human resources system.'
Indian information technology (IT) services companies reported lacklustre growth in the second quarter, at a time when the macroeconomic environment did not deteriorate further. HCLTech emerged the best performer among India's top six IT services firms with a constant-currency growth rate of 4.6 per cent, even though uncertainties continued to persist.
The 15-year agreement will see Infosys develop a next-generation, data-driven workforce management platform to replace the existing electronic staff record (ESR) system, which annually manages a 55 billion payroll for 1.9 million NHS employees.
Its revenue grew 3 per cent year-on-year to Rs 40,135 crore for the just-ended quarter from Rs 38,977 crore in the year-ago period.
Revenue of the Mumbai-based firm grew 6.7 per cent in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal.
