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.
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on quarter-on-quarter basis.
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.
rediffGURU Archana Deshpande, founder, of TransformMe Life Skills Coaching, offers advice on how to improve your soft skills, build confidence and enhance self-esteem.
From the Sensex basket, Tata Consultancy Services, Nestle, Bajaj Finserv, Wipro, Maruti Suzuki India, Reliance Industries, Larsen & Toubro and NTPC were the major laggards. Tata Steel, Bajaj Finance, JSW Steel and Bharti Airtel were among the gainers.
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.
TCS, which, plans to earn $1 bn in 3-7 years will explore segments such as cyber security, internet of things, analytics of IoT, and cloud application and infrastructure.
The buyback offer saw subscription of approximately 1.47 times the maximum number of equity shares proposed to be bought back
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.
Shares of RIL on Monday opened at Rs 1,206.50, then gained further ground and touched its 52-week high level of Rs 1,238.05, up 2.87 per cent over its previous closing price.
Largest software exporter TCS will be hiring more than 40,000 freshers from campuses in the country in the financial year 2021-22 , a top executive said on Friday. The company, the largest employer in the private sector with a base of over 5 lakh employees, had hired 40,000 graduates from campuses last year and will do better on that number, its chief of global human resources Milind Lakkad told reporters in Mumbai. He said the COVID pandemic-related restrictions do not pose any difficulties in hiring and added that last year, a total of 3.60 lakh freshers had appeared for an entrance test virtually.
Stock crashes 6.5%; top 5 firms lose Rs 33,883 crore in market cap
While TCS will see demand in the US and Europe, its local business is likely to be hit on poor IT spending.
Move to keep pace with tech landscape; senior employees might be affected
Sectorally, metal, auto and IT stocks were leading gainers amid sustained foreign fund inflow.
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.
'We do not see people getting reduced, but because of automation, we will do more work.'
From the Sensex basket, Sun Pharma, Maruti, Power Grid, Titan, JSW Steel, Tech Mahindra, Larsen & Toubro and State Bank of India were the major laggards. Tata Motors, Tata Consultancy Services and Nestle were the gainers.
Despite lower growth scenario; companies say reworking strategy
TCS was recognised as a leader in all the categories, namely overall, efficiency, consulting, transformation and digital focus
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Customers embarking on multi-year technology refresh cycle and their increased focus on growth and transformation (G&T) initiatives are expected to provide strong growth levers for Tata Consultancy Services (TCS) in the medium and long term, its CEO Rajesh Gopinathan said.
The gauge for the performance of informational technology (IT) stocks soared nearly 5 per cent-most in nearly three years-as growth worries eased following a robust order book posted by bellwether Tata Consultancy Services (TCS). The Nifty IT index rose 4.5 per cent to close at 30,945. This was the biggest single-day gain since September 14, 2020. Industry titan TCS' shares rose 5 per cent to Rs 3,509.
Even after the recent developments at Infosys, both companies are expected to deliver similar revenue growth in FY17
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.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Partnership will ensure that Intel's chips sell better in systems that are used by large enterprises
Gopinathan is aware of the challenges and opportunities that lie ahead.
The company hires postgraduate and PhD students from A+ grade institutes to be part of its research team.
Shares of RIL rose by over 1 per cent to a multi-year high of Rs 1,410 on BSE
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks
A 150 basis points fall in realisations too weighed on the top-line.
96 per cent is being collected through TDS, advance tax, self-assessment tax, and other receipts.
Among the Sensex constituents, as many as 16 stocks closed with losses with Nestle India, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finserve, Titan and JSW Steel being the major laggards. Index major Reliance, Hindustan Unilever, Maruti and Tata Steel also declined due to selling pressure. In contrast, NTPC, TCS, Tech Mahindra, Bajaj Finance bucked the trend and ended the day in green. Axis Bank, Bharti Airtel, Mahindra & Mahindra and Tata Motors also defied the trend.
TCS' brand value grew 286 per cent from $2.3 billion in 2010 to $9.04 billion in 2016
Street may be ignoring TCS headwinds as the stock's peak valuation doesn't seem justified by BFSI weakness, likely higher US tax rates and stronger rupee, reports Ram Prasad Sahu.
Anand Rayate, senior IAS officer and state coordinator for the Talathi Recruitment Exam-2023, said the statewide test conducted with the help of IT major TCS started at 11 am, instead of 9 am scheduled originally, after the fault was rectified.
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