Shares of IT major TCS on Friday tumbled over 8 per cent after its September quarter numbers failed to meet market expectations.
However, the cumulative gains of these six companies at Rs 35,716.85 crore was less than the total loss seen by the four firms - TCS, ITC, HDFC and CIL
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
TCS has got a special recognition for its initiative to the lift of one million people in the inner part of India, by reaching out to the educated among the backward community and training them as well as making them economically-active through employment, TCS' Singapore-based President Vish Iyer told PTI on Monday.
The proposed TCS Learning Campus in Thiruvananthapuram will come up on a 97-acre plot in the Technopark area of the city.
On the equity volume front, 7.66 lakh shares of the company were traded on BSE and over 91 lakh shares changed hands at NSE during the day.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
TCS is fastest growing software brand in the world.
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.
The corporate sector should give priority to building toilets in schools as part of their corporate social responsibility initiatives.
Among the Sensex firms, Kotak Bank, PowerGrid, ICICI Bank, HDFC Bank, PowerGrid were the major gainers. HUL, TCS, M&M, IndusInd Bank, HCL Tech were among the losers.
Tata Consultancy Services has acquired the remaining 49 per cent stake in its Brazilian joint venture for $33.4 million, giving the company 100 per cent ownership.
Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
CMC has strong presence in the domestic market. It certainly compliments TCS.
The Madras High Court on Tuesday dismissed a petition filed by an employee of TCS who was served with a termination order after counsel for the software major said the firm has revoked it.
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
S Ramadorai has bid farewell to Tata Consultancy Services after being with the organisation for 37 years.
IT major TCS surpassed Reliance Industries to become the country's most valued company as its market capitalisation soared to over Rs 2.61 lakh crore on Friday because of spurt in the share price.
India's top software exporter Tata Consultancy Services on Wednesday said it is looking at setting up more delivery centres in Eastern Europe.
IT major Tata Consultancy Services has bagged the contract to implement end-to-end solutions for national flag carrier Shipping Corporation of India.
The 21st AGM of the company is scheduled to be held in Mumbai on Friday.
Tata group firm TCS on Wednesday replaced Mukesh Ambani-led Reliance Industries as the country's most valued company in terms of market capitalisation, as investors rallied behind the shares of the IT giant.
The country's largest software exporter Tata Consultancy Services on Monday reported a stellar 72.7 per cent growth in net profit at Rs 6,413 crore for the fourth quarter of last fiscal ended March 31.
The facility will cater to govt services that require Inpact Level 3 security.
The revenue also rose 14.2 per cent to Rs 29,305 crore (Rs 293.05 billion).
The finance ministry on Friday amended the foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme (LRS). The amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, will be effective retrospectively from May 16, the ministry said in a notification. "...the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India" will not be covered under LRS, the notification said while inserting Rule 7 in the FEM (CAT) Rules.
As part of its Latin American expansion plans, IT major Tata Consultancy Services has set up another global delivery centre in Uruguay and will will house over 250 personnel.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
The market capitalisation of a listed company corresponds to the cumulative market price of all its shares.
The company's revenue rose by 11.7 per cent to Rs 27,364 crore.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
Market experts believe TCS to post better quarterly earnings vis-a-vis Infosys.
Information technology giant Tata Consultancy Services on Tuesday said it plans to develop a new facility in three phases at Gandhinagar, Gujarat.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
The Madras High Court has restrained software major TCS from retrenching its analyst who has been issued termination order by the company.
