Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
Plans over $1 bn equity sale to fund group buyouts.
The second-quarter results of the major Indian software companies threw up few surprises.
The announcement comes in the wake of outsourcing and the ensuing flight of jobs to cheap labour countries like India becoming a contentious issue in the developed world.
Tata Consultancy Services TCS) said it has bagged a Rs 85-crore three-year deal for implementing smart card-based Financial Inclusion Solution (FIS) for Indian Bank.
The appreciating rupee has taken its toll on Tata Consultancy Services' June quarter numbers, with the top line growing just 1per cent sequentially in rupee terms to Rs 5202.8 crore (Rs 52.02 billion).
Gains in IndusInd Bank, HCL Tech, TCS, Tech Mahindra, NTPC, ITC, JSW Steel and Tata Steel helped the barometer scale a fresh high. Axis Bank fell the most by 1.26 per cent, M&M by 0.99 per cent and Hindustan Unilever by 0.67 per cent. Maruti, Bajaj Finserv, Bharti Airtel and HDFC Bank and Infosys also declined.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan. However, IT majors HCL Technologies and TCS defied the trend and gained 1.02 per cent and 0.47 per cent, respectively. FMCG firm Hindustan Unilever rose 0.32 per cent.
The company also does not have a target on the number or percentage of the working staff when it comes to women, it said.
Infosys, however, remains the 'dream company' in the IT arena, while MNCs occupy the maximum mindshare of professionals.
India's largest information technology services provider, Tata Consultancy Services (TCS), beat analyst expectations on both net profit and operating margins during the fourth quarter ending March 31.
India's top IT company Tata Consultancy Services Ltd plans to make Chennai its biggest centre over a period of time, replacing Mumbai where it is headquartered now, a top company official said.
Any changes in the visa regime may result in higher operational costs and shortage of skilled workers for the $110 billion Indian outsourcing industry.
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
The project will be commissioned in phases, official sources said on Thursday.
The company also plans to recruit over 3,000 people on onsite in countries like Brazil, Uruguay, China and in Latin America, among others.
TCS will acquire 20.67 per cent in WTI Advanced Technology for which it has reached an agreement with the International Finance Corporation, the private lending arm of the World Bank.
In October, the company had announced that it will hire 35,000 freshers.
The firm now has employee strength of 344,691.
The much-awaited TCS IPO opened on Thursday, to a lukewarm response. The offer has been subscribed 91.08 per cent on the first day, and most bids are at Rs 775.
With the addition of these two directors, the total Board strength of the company increases to 14 which include seven independent directors, including O P Bhatt, Tata Consultancy Services said.
The Maharashtra government has formed a joint venture with Tata Consultancy Services to step up its efforts to provide online citizen services.
The centre in Riyadh will be staffed by Saudi females and will start by catering to Saudi Aramco and GE as anchor clients.
However, the company has not revealed the financial details of the deal.
The estimated value of these two firms is around Rs 200 crore.
India's largest IT services firm Tata Consultancy Services has bagged a $100 million (nearly Rs 450 crore) deal from US healthcare company Kimberly-Clark.
In an interesting move, S Ramadori, chief executive officer and managing director of information technology major Tata Consultancy Services, recently said that TCS may provide IT services to casinos in Macau.
Billionaire Mukesh Ambani's Reliance Industries Ltd is the most valuable private company in the country, as per Hurun India's 2022 Burgundy Private Hurun India 500 list. The list, which was released on Tuesday, stated that with a value of Rs 16.4 lakh crore, Reliance is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore. Reliance is also the highest taxpayer with a payout of Rs 16,297 crore and the most profitable company with a bottomline of Rs 67,845 crore in 2022-23.
TCS employs more than 60,000 across its 13 centres in Chennai.
TCS, India's largest IT company, has appointed and approved current TCS chief operating officer and executive director N Chandrasekaran as the CEO and Managing Director-designate.
