With revenues of $13.4 billion for FY14, Tata Consultancy Services (TCS) has managed to deliver consistent growth for both the fourth quarter and the full year.
Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
Software major TCS will sign an MoU with Kerala government on Saturday for setting up of a Rs 1,000 crore Global Training Academy in Thiruvananthapuram.
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.
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.
50 years ago, on April 1, 1968, Tata Consultancy Services -- now India's leading IT company -- was born. The foundation for TCS was laid by Faqir Chand Kohli whose life touched directly or indirectly many, many, Indians, says Shivanand Kanavi.
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.
During the first three quarters of 2014-15 alone, TCS has made a lateral hiring of over 1,500 experienced professionals with core digital skills.
Employees face a bleak future, CPI (M) said.
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.
TCS emerges as a safe haven, as Infosys stumbles for sixth straight quarter.
Some employees are happy with their company.
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.
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.
BusinessWeek in its '2007 Information Technology 100 listing' has placed TCS on 23rd position among world's leading IT companies.
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.
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.
While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
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.
In 10 years, the company has created several milestones but, more important, also created multiple-fold wealth for investors.
TCS completed its highest ever hiring of over 90,000 new employees globally during the year.
From the Sensex basket, Tech Mahindra, Tata Steel, JSW Steel, HCL Technologies, Tata Consultancy Services, Larsen & Toubro and Kotak Mahindra Bank were the biggest laggards. Mahindra & Mahindra, Power Grid, Bajaj Finance, IndusInd Bank and Maruti were the major gainers.
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.
The overall market breadth was marginally positive as 1,218 stocks advanced against 1,116 declining ones, on the BSE.
TCS chief executive officer Natarajan Chandrasekaran gave this assurance to Orissa Chief Minister Naveen Patnaik during a meeting in Bhubaneswar.
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.
Indian IT services major TCS will open a global delivery centre in Mexico next year.
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.
The company has been able to help clients to transform their business and beat cost during the slowdown.
The total employee strength of the company stood at 2,14,770 at the end of the September quarter.
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.
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.
ONGC, RIL, ITC, CIL, HDFC Bank, SBI and ICICI Bank saw erosion in their m-cap
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.
Another negative surprise in HCL's numbers was the decline in the margin by 40 basis points to 21.4 per cent.
TCS is stepping into an unchartered territory by targeting the small and medium enterprises.
'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.'
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.
