IT major Accenture's second straight cut in its revenue growth forecast for FY23 suggests there is more pain ahead for the Indian IT sector, say analysts. Accenture has lowered the top end of its FY23 growth guidance in constant currency (CC) to 9 per cent from 10 per cent earlier. The firm, which follows a September-August fiscal cycle, expects a 2-6 per cent CC growth in Q4 of FY23 (June-August 2023) versus the 6-10 per cent prior guidance.
TCS emerges as a safe haven, as Infosys stumbles for sixth straight quarter.
TCS said trainees joining it this fiscal would not be eligible for variable pay of about Rs 5,000 a month in the first six months.
Some employees are happy with their company.
The TCS board approved a special compensation of Rs 5 crore (Rs 50 million) over and above the Rs 3-crore (Rs 30-million) commission due to him for the last financial year.
The country's largest information technology (IT) service provider, Tata Consultancy Services (TCS) is all set to expand its footprint in West Bengal, according to state IT minister Partha Chatterjee.
In 10 years, the company has created several milestones but, more important, also created multiple-fold wealth for investors.
TCS chief executive officer Natarajan Chandrasekaran gave this assurance to Orissa Chief Minister Naveen Patnaik during a meeting in Bhubaneswar.
N Chandrasekaran, managing director and CEO of Tata Consultancy Services, talks to Business Standard on the growth outlook and why the current slowdown is unlike the one in 2008.
From car electronics to safety, aerodynamics to trouble-shooting, TCS will work with the Ferrari F1 team to provide IT-based solutions before, during and between races.
The company has been able to help clients to transform their business and beat cost during the slowdown.
India's largest IT services firm Tata Consultancy Services on Wednesday said it won a contract from Eli Lilly to provide various drug development services to the US pharma firm.
TCS ruled the domestic market cap chart in ranking, followed by RIL, HDFC Bank, ITC, Infosys, HDFC, CIL, Sun Pharma, HUL and ONGC
While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
The overall market breadth was marginally positive as 1,218 stocks advanced against 1,116 declining ones, on the BSE.
The earnings season this financial year is expected to start on an exciting note, as two information technology (IT) behemoths Infosys and Tata Consultancy Services (TCS) report their first quarter numbers on the same day. By now, TCS is expected to report a better set of numbers than Infosys.
ONGC, RIL, ITC, CIL, HDFC Bank, SBI and ICICI Bank saw erosion in their m-cap
The Microsoft-TCS virtualisation CoE is a joint initiative by the companies to accelerate the adoption of virtualisation technology in India, TCS said in a filing to the Bombay Stock Exchange on Tuesday. Virtualisation is the creation of a virtual (rather than actual) version of something, such as an operating system, a server, a storage device or network resources. This helps companies in cutting costs and optimising resources.
BusinessWeek in its '2007 Information Technology 100 listing' has placed TCS on 23rd position among world's leading IT companies.
Another negative surprise in HCL's numbers was the decline in the margin by 40 basis points to 21.4 per cent.
The total employee strength of the company stood at 2,14,770 at the end of the September quarter.
Country's largest software exporter Tata Consultancy Services on Tuesday said it has set up a software development and delivery center in North America with a capacity of 1,000 seats to cater to the customers there. The center located in Milford, Ohio, a suburb of Cincinnati, can accommodate up to 1,000 associates, TCS said in a statement. Cincinnati and the Ohio region met all TCS' criteria in terms of proximity to customers, strong talent pool and 10 Fortune 500 Companies.
H-1B visa is a non-immigrant visa, which allows US employers to temporarily employ foreign workers in speciality occupations
Industrial production and inflation data, quarterly earnings from IT majors and global trends would drive the equity markets in a holiday-shortened week, analysts said. Moreover, foreign fund trading activity, movement of the rupee and global crude oil prices would also dictate terms in the market, they added. Equity markets would remain closed on Friday for 'Dr Baba Saheb Ambedkar Jayanti'.
Glimpses from the New York and Beijing Marathons.
Indian IT services major TCS will open a global delivery centre in Mexico next year.
Earning woes drag markets lower; TCS, HUL lead fall.
Does India's most valued company give hope to its investors that they, too, might drive a Jaguar some day?
TCS chief executive officer (CEO) N Chandrasekaran earned a total of about Rs 18.68 crore in the 2013-14 fiscal.
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At present, TCS is the only company with a market value of over Rs 4 lakh crore.
TCS is stepping into an unchartered territory by targeting the small and medium enterprises.
He however said, US has been a very welcoming market for TCS and has provided it with a fair, open and competitive environment
TCS reported a 5.8 per cent rise in revenue at Rs 27,165 crore.
Software services provider, Tata Consultancy Services, is aiming to achieve $4 billion in revenue by the end of fiscal 2007, growing at 30 per cent, its CEO and MD S Ramadorai said on Tuesday.
Tata Consultancy Services (TCS), the country's largest information technology (IT) services provider, has planned to launch what it terms 'SME Cloud' in a fortnight. Under which, it would provide hosted services for enterprises having a Rs 50-500 crore turnover.
The complaint was filed by non-US employees Gopi Vedachalam and Kangana Beri, who were sent from India to the US to work on projects.
'We expect realisation will be flattish for the rest of the fiscal (year).'
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The IT bellwether currently has about 28,000 employees in West Bengal in different facilities and it expects to recruit around 4,000 more in the current year.
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