'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.'
ignio has more than 75 patents filed in the artificial intelligence, machine-learning and intelligent-automation space
The finance ministry on Friday amended the foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme (LRS). The amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, will be effective retrospectively from May 16, the ministry said in a notification. "...the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India" will not be covered under LRS, the notification said while inserting Rule 7 in the FEM (CAT) Rules.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
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.
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TCS previously developed mobile apps for the last year's marathon, helping participants to track runners and to receive race results, information on the event, and tips for training.
W12 Studios will be part of TCS Interactive, further strengthening the already impressive array of creative and experience services it offers
At 4.16 mn shares, chairman-in-waiting holds 0.21% in group's cash cow
The challenge before TCS is to be totally at home with the IPR regime of developed economies.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
Other losers in the Sensex pack included IndusInd Bank, Tata Motors, TCS, Yes Bank and L&T, falling up to 3.26 per cent.
The Times Top 50 Employers for Women recognizes organisations that are spearheading gender equality in the workplace.
The TCS results are probably a pointer to the subdued outlook.
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).
TCS' customer focus has been central to its recent success.
Paid Rs 15,474 cr against CIL's Rs 13,075 cr in FY15
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
Gains in IndusInd Bank, HCL Tech, TCS, Tech Mahindra, NTPC, ITC, JSW Steel and Tata Steel helped the barometer scale a fresh high. Axis Bank fell the most by 1.26 per cent, M&M by 0.99 per cent and Hindustan Unilever by 0.67 per cent. Maruti, Bajaj Finserv, Bharti Airtel and HDFC Bank and Infosys also declined.
The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.
TCS has received permission to invest $1 mn in Thailand.
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
TCS is recognised as a Top Employer in Latin America and North America.
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
Colleges are witnessing more offers, with better salary packages. Median salary packages offered have improved over last year.
Credit Suisse thinks it possible for the company to narrow its forecast ('guidance') range.
Some analysts believe underperformance of the TCS stock may continue.
Tata Consultancy Services said on Monday it will consolidate its financial products into a single business unit -- TCS Financial Solutions.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
ONGC's rein at the top position proved to be short-lived as it had on Thursday last week surpassed TCS to become the most value company.
Of the top 10 valued firms, eight including Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Ltd, HDFC and ITC witnessed gains in their market valuation. From the top-10 pack, the valuation of HDFC Bank jumped Rs 31,553.45 crore to Rs 929,752.54 crore.
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
Tata Consultancy Services and its Chinese partners - Beijing Zhongguancun Software Park Development, Uniware and the Tianjin Huayuan Software Area Construction and Development
At the end of trade, ONGC commanded a market value of Rs 2,89,047 crore (Rs 2,890.47 billion).
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
India's largest software services firm Tata Consultancy Services (TCS) said the tenure of its Chief Executive Officer and MD N Chandrasekaran has been extended by five years to October 2019.
The Securities and Exchange Board of India has issued "certain observations" and "sought clarifications" on draft prospectus for Tata Consultancy Services Ltd's initial public offering.
Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan. However, IT majors HCL Technologies and TCS defied the trend and gained 1.02 per cent and 0.47 per cent, respectively. FMCG firm Hindustan Unilever rose 0.32 per cent.
Shares of Tata Consultancy Services (TCS) fell by 4 per cent on worries that growth may be muted.
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