Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
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
Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced the acquisition of SBI CAPS subsidiary for Rs 708.07 crore. Nestle India gained 1.68 per cent after it reported around 9 per cent growth in sales. JSW Steel, Bajaj Finance, Axis Bank and Asian Paints were among the gainers.
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.
Indian software firms have been retraining their workforce in emerging technology areas, also helping them get certified
Reliance Industries on Tuesday became the country's most valued company, pushing IT major TCS to second spot in the domestic market capitalisation chart.
Bloomberg estimates revenue at Rs 25,328 crore, up 4.6per cent sequentially and EBITDA margin of 27.2per cent
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.
Tata Consultancy Services on Wednesday announced a global engineering services partnership with power systems company Rolls-Royce.
'To those who have just finished engineering or MCA or BSc, BBA, I will say they should take up whatever internship opportunities they are getting.' 'They should look for opportunities to learn the latest tools.' 'They should think innovative and try to solve problems. Only when you sharpen your skills, you will remain relevant.'
Growth is coming across both government as well as private sector.
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.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
In 2010, TCS's brand value was $2.3 billion.
TCS said employee addition during the quarter stood at 18,362
N Ganapathy Subramaniam further said TCS has signed deals worth over $6 billion in a matter of just 2-3 weeks
'The top five IT giants are not hiring, but most of the freshers want to start their careers with the top five IT firms.' 'In today's scenario this is a challenge.'
Benchmark equity indices ended marginally higher on Thursday, trimming most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day. Announcement of the US inflation data and domestic macroeconomic numbers also forced investors to remain on the sidelines. The 30-share BSE Sensex climbed 63.47 points or 0.09 per cent to settle at 71,721.18.
TCS hopes the Rs 2,628-crore (Rs 26.28 billion) bonus to its employees will help contain the high attrition level.
The Ebitda margin, too, was lower than the expected 29.1 per cent.
'We have not seen too many large deals compared to last quarter.'
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
Ex-employee Steven Heldt had sued the company for favouring South Asians and discriminating against American workforce.
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.
Quarterly earnings from IT majors Tata Consultancy Services (TCS), Infosys, macroeconomic data announcements, global trends and trading activity of foreign investors would guide the movement in the equity market this week, analysts said. Movement of global oil benchmark Brent crude and the rupee will also influence trading in the markets. "All eyes will be on the beginning of corporate performance for the second quarter of the current fiscal year. TCS is slated to unveil its Q2 results on October 11, with HCL Technologies and Infosys following suit on October 12.
Among the Sensex firms, major winners included Tata Steel, rising 3.77 per cent, followed by HCL Tech, which gained 3.62 per cent. IndusInd Bank and PowerGrid closed with a gain of 3,60 and 3.34 per cent, respectively. Other gainers were Tech Mahindra, Hindustan Unilever, Bajaj Finserve and Bharti Airtel, among others. On the other hand, ICICI Bank, Axis Bank, Asian Paints, Bajaj Finance and TCS were the only laggards, sliding up to 2.94 per cent.
The roll-out of the auto enrollment began in October 2012.
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.
As part of the commercial deal, the council's IT department will collaborate with TCS to integrate and rationalise its back office IT systems.
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
Among the Sensex firms, IndusInd Bank was the biggest loser and fell 6.13 per cent, followed by SBI (3.99 pc), Hindustan Unilever (3.82 pc), Axis Bank (3.41 pc) and HDFC Bank (3.23 pc). In contrast, Sun Pharma, Bharti Airtel, ICICI Bank and PowerGrid defied the trend and closed with gains of up to 3.67 per cent. TCS and Bajaj Finserve were the other gainers.
One of the reasons is the increasing number of upgrades in analysts' recommendations.
Among Sensex gainers, Power Grid jumped the most by 4.16 per cent after its board approved an investment of Rs 656 crore in transmission projects. Private lenders HDFC Bank, Axis Bank, Kotak Bank, IndusInd Bank and ICICI Bank were also among lead gainers. NTPC, Nestle and Hindustan Unilever also ended the session with gains.
Tata Consultancy Services and State Bank of India on Monday launched a joint venture to provide advanced technology solutions and world-class domain consulting for the banking and financial services sector.
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.
