'As Tata Steel we will obviously use group-level leverage to make progress where we want.'
IT major Tata Consultancy Services said that it made job offers to 1,006 students of Anna University this year.
JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight (neutral earlier post Q4-FY23 numbers), as it believes the overall demand environment for the sector still remains weak. The research firm expects most companies in the sector to disappoint while announcing their first quarter numbers for the current fiscal (Q1-FY24). Among stocks, it has placed Infosys, TCS, MphasiS in its 'negative catalyst watch'.
TCS is undertaking a significant performance-related restructuring of its workforce
TCS hopes to create a positive image for outsourcing by sponsoring a famous marathon
TCS is aiming to add another $10 billion to its turnover in the next five years or so. Which means, the company has to grow at a compounded annual growth rate of 15 per cent. Can TCS pull it off?
During the afternoon trade, TCS commanded a market value of over Rs 2,38,223 crore (Rs 2,382.23 billion), the highest for any listed company in India.
The centre will be focusing on emerging communication technologies
The market cap of TCS soared the most at Rs 17,129 cr to Rs 5,01,307 cr
India's largest information technology (IT) services company, Tata Consultancy Services (TCS), may hire close to 11,000 employees in the January-March 2010 quarter. Close to 8,300 staffers are expected to be recruited from campuses, while 3,000 would be laterals or experienced hands.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
TCS on Thursday said the digital segment is the fastest-growing revenue stream, accounting for 12.5 per cent of the overall sales of the IT giant which sounded confident of surpassing the $5-billion target in the segment over the next five years.
A quick look at the Q1FY23 performance of top-tier IT services players shows that they are still far away from getting a grip on managing attrition. Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation. Despite robust growth numbers and strong deal pipelines, margins for all the players -- TCS, Infosys, HCL Technologies and Wipro -- have continued to shrink at a pace that has had the street surprised.
The US district court of Northern California on Monday allowed two former employees of I-T giant Tata Consultancy Services Ltd to proceed with a class action lawsuit against their former company over wage dispute and breach of contract.
Tata Consultancy Services (TCS), India's largest information technology (IT) services provider, said it had so far made campus offers to 43,600 engineering freshers for 2012-13, higher than the 37,800 offers made this year.
Tata Consultancy Services CEO and Managing Director S Ramadorai on Thursday felt merit alone should be the criteria for admitting candidates into institutes of higher education
India's top software firm Tata Consultancy Services on Monday signed a shareholders' agreement with three Chinese firms and Microsoft, to invest $15 million (nearly Rs 70 crore) for floating a software joint venture in China.
Europe may continue to reel from the shock of the global financial crisis, but even in these depressed circumstances Information Technology-related outsourcing remains surprisingly buoyant to the benefit of Indian firms like Tata Consultancy Services.
Buoyed by the presence of a number of reputed engineering and technical educational institutions in and around the city and the availability of a vast talent pool, Tata Consultancy Services, is targeting Coimbatore.
SBI was the biggest loser in the Sensex pack, tumbling 2.83 per cent, followed by Infosys, TCS, Bajaj Finance, Tech Mahindra, Wipro and Axis Bank. In contrast, Titan, L&T, NTPC, Power Grid, Sun Pharma, ITC and HDFC twins were among the prominent winners, rising as much as 1.97 per cent.
The company made a net addition of 12,580 employees.
IT major Tata Consultancy Services Ltd has acquired 100 per cent stake in Chilean software firm Comicrom for $ 23 million.
Posts a fall in net profit sequentially despite clocking higher volume growth.
A 24-year old IT woman employee, who went missing last week, was on Saturday found dead near her office premises on the outskirts of Chennai.
Tata Consultancy Services, India's largest software exporter, will embark on a massive brand building exercise, starting early next fiscal and said it expects its joint venture subsidiary with Microsoft in China to be operational by June this year.
Dip in attrition rates and higher bench strength seem to be signalling a normal year for hiring in FY24.
TCS would hire 25,000 more people this year to support its ongoing and upcoming projects.
Tata Consultancy Services on Tuesday said the company's chief operating officer N Chandrasekaran will succeed S Ramadorai as the CEO and managing director on October 6.
In an earlier interview, chief operating officer N Chandrasekaran had voiced this concern and said TCS was taking some measures. The impact was also evident on the overall revenue contribution, which fell to 4.7 per cent in FY09 from 5.2 per cent in FY08. TCS' head for Apac, Girija Pandey, feels the region will continue to be volatile till they reach a certain level.
Seven of the top-10 valued firms suffered a combined erosion of Rs 1,54,477.38 crore in market valuation last week, with IT majors Tata Consultancy Services and Infosys emerging as the biggest laggards. Last week, the BSE benchmark index tanked 812.28 points or 1.36 per cent. Reliance Industries Limited, ICICI Bank and State Bank of India were the only gainers in the top-10 pack.
In a bid to reduce costs and increased offshoring focus, Tata Consultancy Services, India's largest information technology company, has recalled close to 1,200 employees from the US and has decided not to hand out any salary increment this year.
Among the Sensex stocks, Larsen & Toubro rose the most by 3.96 per cent after the company announced a major project win in the Middle East. HDFC, HDFC Bank, Sun Pharma, ITC, HUL, Titan, TCS, HCL Tech, Asian Paints, Bajaj Finance, Infosys and Tata Steel were among the major gainers.
TCS posted 20 per cent growth in revenues at Rs 5,012 crore (Rs 50.12 billion or $1.075 billion) for the year ending March 31, 2003 compared to Rs 4,187 crore (Rs 41.87 billion) in the previous fiscal.\n\n
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