Indian SMBs spent $11.9 billion in 2010 on IT and it is expected to grow to $48.5 billion by 2015.
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).
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.
Infosys had guided for a revenue growth in the range of 11.5-13.5%, which has now been lowered to 10-12%.
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.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
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.
'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.
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.
rediffGURU Archana Deshpande, founder, of TransformMe Life Skills Coaching, offers advice on how to improve your soft skills, build confidence and enhance self-esteem.
Industry sources said the lay-off may be part of the deal that Nokia has signed with TCS and HCL Technologies earlier this year.
TCS is looking for Team Members in International Banking (Voice Support).
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.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
TCS will provide a mobile application and technology support for the event on December 7.
IT giant TCS is believed to be undertaking a significant performance-related restructuring of its workforce, which may also lead to some employees being asked to leave the company.
The merger, in which TCS will hold 51 per cent stake and Mitsubishi 49 per cent, will create a new IT services company of significant scale in the Japanese market with annual turnover of over $600 million.
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.
'We do not see people getting reduced, but because of automation, we will do more work.'
Revenue of the Mumbai-based firm grew 11.4 per cent to Rs 38,172 crore in the June 2019 quarter, compared to Rs 34,261 crore in the same quarter of 2018-19.
Other prominent gainers included Tata Steel, Sun Pharma, Infosys, Tech Mahindra, IndusInd Bank, HCL Tech, ICICI Bank, HUL and HDFC Bank. NSE Nifty rose 86.40 points or 0.76 per cent to close at 11,503.35.
There has been a distinct trend change in the micro-indicators like rising auto sales and consumer confidence index in the last 20 quarters, Chandrasekaran stated.
Strong deal wins and a good pipeline positions TCS very well in the new fiscal, TCS chief operating officer and executive director N Ganapathy Subramaniam said.
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With its Mitsubishi JV beginning operations this quarter, analysts expect meaningful revenue addition
The court has also questioned Epic's assumption that Tata Consultacy Services used the information for the creation of a competitive product
'At any given point in time, we expect only 25 per cent of our workforce will need to be in office.' 'And any given person will only be required to spend only 25 per cent of their time in office.'
Largest industry gift to CMU and largest gift from outside US will support new facility and student scholarships
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.
HDFC Bank, Reliance Industries and Housing Development Finance Corporation (HDFC) -- with free-float market cap of over Rs 3 trillion -- have the highest weight in the Sensex and the Nifty.
Cognizant jumps 13 ranks to become 4th most valued.
TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in the recent past has helped the company close the gap.
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.
In dollar terms, its m-cap rose to $76 billion
The company has declared a dividend of Rs 7 per share.
Tata group's IT firm TCS on Monday attained a market valuation of Rs 4 lakh crore - becoming the second company in Indian markets after Reliance Industries to cross this milestone.
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.
Most positives seem to be factored into current valuations.
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.
TCS chief operating officer N Ganapathy Subramaniam earned over Rs 11.61 crore in FY19 as compared to Rs 9.29 crore last fiscal.
