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.
Infosys, however, remains the 'dream company' in the IT arena, while MNCs occupy the maximum mindshare of professionals.
Companies which have been dropped from the list include Tata Motors, Hindustan Unilever, MRF, Glaxo SmithKline Consumer Healthcare, Pfizer, Dr Reddy's Labs, Glenmark Pharmaceuticals, HDFC and Kotak Mahindra Bank
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.
'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.'
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.
The company also does not have a target on the number or percentage of the working staff when it comes to women, it said.
The project will be commissioned in phases, official sources said on Thursday.
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.
The company also plans to recruit over 3,000 people on onsite in countries like Brazil, Uruguay, China and in Latin America, among others.
'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 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.
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.
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.
Any changes in the visa regime may result in higher operational costs and shortage of skilled workers for the $110 billion Indian outsourcing industry.
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.
Among the Sensex firms, Wipro jumped over 6 per cent after the IT company's December quarter earnings beat estimates. The other prominent gainers were HCL Technologies, HDFC Bank, Infosys, Tech Mahindra, Bharti Airtel and Reliance Industries.
However, the company has not revealed the financial details of the deal.
The Maharashtra government has formed a joint venture with Tata Consultancy Services to step up its efforts to provide online citizen services.
The estimated value of these two firms is around Rs 200 crore.
In October, the company had announced that it will hire 35,000 freshers.
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.
Of the top 10 valued firms, eight including Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Ltd, HDFC and ITC witnessed gains in their market valuation. From the top-10 pack, the valuation of HDFC Bank jumped Rs 31,553.45 crore to Rs 929,752.54 crore.
The firm now has employee strength of 344,691.
The centre in Riyadh will be staffed by Saudi females and will start by catering to Saudi Aramco and GE as anchor clients.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
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.
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.
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.
A new survey of school children by IT major TCS has found that the next generation is embracing digital world as true digital natives and shifting their academic and social life online.
