Tata Consultancy Services on Thursday said it will give out one-time bonus to employees that will be cost it Rs 2,628 crore.
Who will replace Chandra at TCS if moves to Tata Sons?
Shares of TCS rose by 2.48 per cent to end the day at Rs 3,195.10 on the BSE, while RIL shares fell by 0.08 per cent to Rs 963.80.
Tech major's shareholders will receive total dividend of Rs 15,474 crore in FY15
TCS registered revenues at Rs 30,541 crore in the second quarter of 2017-18, up 4.3 per cent from Rs 29,284 crore in the year-ago period.
The country's second largest employer in the corporate sector has over 300,000 men and women on its roles in 50 countries.
IT services provider Tata Consultancy Services Ltd and Microsoft Corporation on Wednesday entered into a global services partnership, under which the two would jointly help in enhancing value of their IT investments.
In dollar terms, TCS' market valuation rose to $84 billion.
Even as the slowdown in the information technology (IT) services sector deepens, banking, financial services and insurance (BFSI), as well as oil and gas companies, emerge as the primary drivers of corporate earnings in the country. The IT services sector's share in corporate earnings declined to a five-year low of 17.4 per cent in the second quarter (Q2) of 2023-24 (FY24), whereas banks and finance companies accounted for 46.5 per cent, and oil and gas firms contributed 16.8 per cent. At their peak, IT services firms like Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro represented just over a third of the combined net profit of all listed companies in the Business Standard sample.
With revenue growth impacted and uncertainty deepening in major markets, India's second largest IT services firm, Infosys, saw a net reduction in its headcount in the fourth quarter of financial year 2022-23 (Q4FY23). Infosys' workforce saw a net reduction of 3,611 employees, bringing its total headcount to 343,234. This was also the first time in many years that the company did not provide a hiring target for the next fiscal.
The company is accused of making a series of false promises and intentional misrepresentations.
TCS posts one of the highest volume growth and best margin performance.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
The report said the gap in revenue growth between Cognizant and TCS had reached to its lowest of four percentage points in the four-quarter period ended September, 'despite TCS's larger revenue base'.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
IT services provider Tata Consultancy Services has acquired Phoenix Global Solutions, a Bangalore-based firm that provides technology business solutions to insurance companies, for an undisclosed sum.
N Ganapathy Subramaniam, chief operating officer (COO), discusses the strategy to concert digital opportunities to larger deals, focus on reskilling own people instead of acquiring a company to get access to skillsets and demand from newer verticals in an interview with Romita Majumdar
Led by Tata Motors and Tata Consultancy Services (TCS), the combined revenue of the Tata group's listed firms crossed the Rs 10-trillion mark for the first time, in 2022-23. The group's 14 key listed companies in which Tata Sons holds a direct equity stake reported a combined revenue of Rs 10.07 trillion in FY23, up 15.3 per cent from Rs 8.73 trillion in FY22. The combined net profit of these companies was, however, down 10.6 per cent year-on-year (YoY) at Rs 66,670 crore in FY23, from a record high of Rs 74,540 crore in the previous financial year, when the profit had jumped 156 per cent YoY, aided by Tata Steel's strong showing.
TCS said FY15 will be a better year in terms of top line growth and the deal pipeline remains strong
With this, the total strength of TCS's board has increased to 11.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
Morgan Stanley has increased the target prices of certain information technology (IT) stocks by as much as 29 per cent, anticipating an improvement in earnings in the near future. Within the IT and engineering research and development (ER&D) services sector, it is now more optimistic about growth and margin estimates for 2024-25 (FY25).
The recent sell-off in IT stocks such as Infosys and Tata Consultancy Services (TCS) has resulted in a sharp decline in the IT sector weighting in the Nifty50 index. The sector's weighting in the index has slipped to a five-year low of 12.2 per cent, down from the 17.7 per cent at the end of March 2022. The top IT companies - TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra - accounted for 13.6 per cent of the index at the end of March this year.
Mistry said he hoped the company would soon take a decision on appointing a woman as director on the board.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
rediffGURU Geeta Ratra offers expert advice on international courses, student visas and immigration processes.
Says more than 120 who lost jobs have approached it; TCS says workforce optimisation leads to some involuntary attrition, nothing out of ordinary
Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards.
Tata Group was the only private enterprise on the itinerary of Li Keqiang during his visit to the country.
Among Sensex stocks, Wipro gained the most by 3.29 per cent. Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M&M, HDFC Bank, ITC, Kotak Bank and Axis Bank were among the winners. On the other hand, HCL Tech fell the most by 1.24 per cent. SBI, TCS, Infosys, IndusInd Bank and Tata Steel also dropped.
Indian software firms have been retraining their workforce in emerging technology areas, also helping them get certified
TCS will deliver application maintenance and support services to Chrysler. The IT services initiative will encompass a portion of the functional areas within Chrysler such as sales and marketing and shared services.
ICICI Bank, Axis Bank, Infosys, M&M, Tech Mahindra, Tata Steel, SBI and Maruti were also among the gainers. On the other hand, IndusInd, TCS, Titan and Asian Paints declined.
Re-rating of Bharat Petroleum Corporation, Container Corporation, Shipping Corporation, SAIL, and Hindustan Copper, for which the government has already shown intent to divest its stake, possible now, say analysts.
These graduates will have the opportunity to spend a year training and working for TCS at its Innovation Labs and software development centres across India between 2016 and 2020.
TCS is planning to reorganise its global operations to spur customer satisfaction and revenue growth.
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
TCS will manage Diageo's global IT infrastructure, data centres and servers, in addition to providing service desk support to employees, TCS said in a statement.
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