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.
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.
'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.'
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.
Profit taking in Bajaj Finance, Nestle, Kotak Bank, SBI, Bharti Airtel L&T and Asian Paints also weighed on the benchmark index. Maruti bucked the trend by gaining 1.73 per cent after strong retails sales in September. Power Grid, M&M. JSW Steel and Tata Steel also advanced.
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.
The 21st AGM of the company is scheduled to be held in Mumbai on Friday.
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 facility will cater to govt services that require Inpact Level 3 security.
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.
India's information technology (IT) sector will witness subdued hiring in 2023-24 as macro uncertainties impact demand environment, with clients either taking a pause on spend or stopping discretionary spend, say human resource experts. To begin with, unlike earlier years, the three large IT players TCS, HCLTech, and Wipro have not provided any new hiring targets for the financial year. And Wipro has said that its hiring target will depend on the demand environment.
'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.'
The market capitalisation of a listed company corresponds to the cumulative market price of all its shares.
The revenue also rose 14.2 per cent to Rs 29,305 crore (Rs 293.05 billion).
Information technology giant Tata Consultancy Services on Tuesday said it plans to develop a new facility in three phases at Gandhinagar, Gujarat.
The company's revenue rose by 11.7 per cent to Rs 27,364 crore.
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.
Market experts believe TCS to post better quarterly earnings vis-a-vis Infosys.
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.
Tata Consultancy Services and Oracle have begun a pilot project involving international carrier Virgin Atlantic to manage critical parts used in aircraft maintenance and repairs by tagging them with a radio frequency identification device.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
TCS beat tech giants IBM and Hewlett-Packard to become the fastest growing brand within the IT services sector.
The Madras High Court has restrained software major TCS from retrenching its analyst who has been issued termination order by the company.
According to NASSCOM and McKenzie, it is projected that Indian IT sector will need around nine million employees and currently it has only 3.2 million, he informed.
Indian IT major Tata Consultancy Services will open a branch in Israel within six months and has already chosen a local manager.
Post Q1 results, the stock rallied 8% compared to 2% rise in S&P BSE Sensex and 4% gain in S&P BSE IT index.
Close to 1,500 trainees who will join India's largest information technology services provider, Tata Consultancy Services (TCS), by the end of September, will not be eligible for variable pay till they complete their six-month training period.
Tata Consultancy Services, the $2 billion listed IT company from the Tata group is looking at expanding its global base by exploring untapped markets in Eastern Europe, Russia and China.\n\n
Leading software company Tata Consultancy Services has announced an alliance with the MIT Sloan Centre for Information Systems Research, strengthening ties with the world's leading academic institutions.
The settlement is subject to fairness review and approval by the court.
India's largest information technology firm Tata Consultancy Services on Wednesday said it would increase headcount in the next financial year and explore both the organic and inorganic routes for growth.
To increase focus on hiring people from diverse skillset
According to bulk deal data available on the National Stock Exchange, TCS promoter group firm Tata Industries has sold 1.03 crore shares of TCS at Rs 615.04 a piece, aggregating to over Rs 634.80 crore. As of March quarter, Tata Industries held 5,14,850 shares representing 0.05 per cent stake in TCS.
The firm-level optimism derives partly from the state of the global economy.
Betting big on the inorganic growth strategy, Tata Consultancy Services on Thursday said its initial public offer would help bolster resources for 'significant' acquisitions for future growth.
Infy's cash utilisation may play role in whether valuation gap too narrows
'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.'
