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.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The final rites of renowned industrialist and philanthropist Ratan Tata were performed with full state honours at a central Mumbai crematorium on Thursday evening. The Mumbai police paid tribute to Tata with a gun salute.
A 150 basis points fall in realisations too weighed on the top-line.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
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.
Shares of RIL rose by over 1 per cent to a multi-year high of Rs 1,410 on BSE
Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks
The company hires postgraduate and PhD students from A+ grade institutes to be part of its research team.
Among Sensex firms, HDFC Bank climbed more than 2 per cent. TCS, Maruti, Infosys, Reliance Industries and Bharti Airtel were among the major gainers. State Bank of India, JSW Steel, ITC, Tata Motors, UltraTech Cement and Nestle were among the laggards.
Global trends, macroeconomic data announcements and the start of the earnings season would be the major drivers for the equity markets in a holiday-shortened week, analysts said. Equity markets will remain closed on Thursday for Eid-Ul-Fitr. Trading activity of foreign investors, rupee-dollar trends and crude oil prices would also guide trends in markets.
Late Ratan Tata always ensured employees are taken care of along with the well-being of their families across the Tata Group companies, which shaped a number of leaders across the conglomerate, and there really was no one like him, Tata Sons chairman N Chandrasekaran said on Monday. Recollecting his association with Tata (86) who passed away last week, in a post on networking platform LinkedIn, he wrote, "Anybody who met Mr Tata came away with a story about his humanity, warmth, and dreams for India. "There really was no one like him."
TCS' brand value grew 286 per cent from $2.3 billion in 2010 to $9.04 billion in 2016
New Delhi, Jun 4 (PTI) Tata Consultancy Services, the country's largest software company, may sack as many as 290 employees at its Finland office, a move that the workers say is an attempt to shift jobs to India. TCS, which has a registered office in Helsinki and has an employee strength of about 80 ...
American chip behemoth Nvidia Corp and India's retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on "manufacturing" AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance's one-gigawatt data center in Jamnagar, Gujarat.
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.
Possibility of higher growth and relatively cheaper valuations makes Street more positive on Infosys, says Sheetal Agarwal.
The June quarter is usually considered as a seasonally strong period for the IT sector.
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.
Keep track of your foreign remittances to avoid giving incorrect declarations as these could be held against you.
Technology, not just cost, is key to IT's future.
The good news is that salary hikes are expected, though it is uncertain when they will be implemented.
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.
Hussain shall hold office as the chairman of the company until a new chairman is appointed in his place
This was a man who like Buddha transformed himself into achieving the impossible and being an inspiration for many generations to come, says business thinker Mudit Jain.
In July-Sept 2016-2017, TCS had missed street expectations with 7.8% growth in revenue.
Indian SMBs spent $11.9 billion in 2010 on IT and it is expected to grow to $48.5 billion by 2015.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore).
Its Board has declared a second interim dividend of Rs 5 and a special dividend of Rs 40 per equity share of Re 1 each of the company.
Infosys had guided for a revenue growth in the range of 11.5-13.5%, which has now been lowered to 10-12%.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
At the end of trade on the BSE, RIL's market capitalisation was Rs 7,14,668.54 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,06,292.61 crore.
In the list of top-five domestic firms, RIL was placed at the top of the pack followed by TCS, HDFC Bank (Rs 6,50,136.04 crore), HDFC (Rs 3,85,207.96 crore) and HUL (Rs 3,76,545.49 crore).
TCS is looking for Team Members in International Banking (Voice Support).
Industry sources said the lay-off may be part of the deal that Nokia has signed with TCS and HCL Technologies earlier this year.
'Young people are digital natives.' 'Hence, their ability to learn coding and to become a full stack engineer is far more.' 'The demand for such people is more as we feel that if we hire people from campuses, we can train them to become what we want.'
The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, chief executive officer and managing director Rajesh Gopinathan said.
TCS will provide a mobile application and technology support for the event on December 7.
