Under the eight-year association, TCS will take on the role of Title Sponsor of the New York City Marathon in 2014, the software major said in a statement.
The IT co has over 2,500 employees catering to a strong client base in the country
Analysts say TCS's total dividend outgo in 2014-15 is likely to cross Rs 11,500 crore (Rs 115 billion), given its policy of paying quarterly dividends.
N Ganapathy Subramaniam further said TCS has signed deals worth over $6 billion in a matter of just 2-3 weeks
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.
Bloomberg estimates revenue at Rs 25,328 crore, up 4.6per cent sequentially and EBITDA margin of 27.2per cent
TCS said employee addition during the quarter stood at 18,362
Reliance Industries on Tuesday became the country's most valued company, pushing IT major TCS to second spot in the domestic market capitalisation chart.
Growth is coming across both government as well as private sector.
IT services major Tata Consultancy Services on Thursday said it has been ranked number one for customer satisfaction in a major survey conducted by Whitelane Research in the United Kingdom.
In 2010, TCS's brand value was $2.3 billion.
Tata Consultancy Services on Wednesday announced a global engineering services partnership with power systems company Rolls-Royce.
India's largest information technology (IT) services provider, TCS, is setting up a greenfield business process outsourcing (BPO) centre in Ahmedabad that can house 2,000 people.
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.
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.
Under its Agile business model, the company has started using its off-shore base up to the extent of 90 per cent which, along with several other measures, will benefit its operating margins, said Chief Operating Officer N Ganapathy Subramaniam.
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.
For the entire 2016-17, TCS saw its net profit growing 8.3 per cent to Rs 26,289 crore while revenue was up 8.6 per cent at Rs 117,966 crore
TCS hopes the Rs 2,628-crore (Rs 26.28 billion) bonus to its employees will help contain the high attrition level.
Ex-employee Steven Heldt had sued the company for favouring South Asians and discriminating against American workforce.
The Ebitda margin, too, was lower than the expected 29.1 per cent.
The roll-out of the auto enrollment began in October 2012.
S&P said Indian technology players will continue to grow at a slightly slower pace over the next two to three years due to technological disruptions.
One of the reasons is the increasing number of upgrades in analysts' recommendations.
The country's largest software vendor Tata Consultancy Services (TCS) on Tuesday said it will review salary increment plans by this month-end as signs of revival of demand in the sector get stronger by the day.
Infosys, Wipro may follow suit as investors eye a piece of the large cash kitty as growth slows.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
Expanding its presence in the US, India's IT major Tata Consultancy Services (TCS) has opened a new facility here which was welcomed by the US lawmakers and the Californian government.
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.
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
As part of the commercial deal, the council's IT department will collaborate with TCS to integrate and rationalise its back office IT systems.
Rating agency Standard & Poor's on Friday revised upwards the long-term corporate credit ratings of software majors TCS, Infosys and Wipro to 'A' from 'BBB+.'
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.
Tata Consultancy Services, India's number one information technology services company, could overtake Infosys to become the most profitable one for the first time on a full-year basis in 2012-13.
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.
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.
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