Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
Demand is driven by smaller deals in the US, larger ones in Europe.
'One of the strategies is to pick deals carefully. That means looking at sectors like energy, banking, insurance and also doing outsourcing.'
Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards.
Overlooked yet capable candidates will now have the opportunity to apply for TCS open requirements.
It also gave an upbeat growth outlook, sending its shares up the most in more than eight months.
Infosys Ltd's refocus on big-ticket contracts since the return of its founder has begun to pay off as India's No. 2 software services exporter crossed $2 billion in quarterly sales for the first time and pushed up its revenue outlook.
Sikka will take over from current Chief Executive SD Shibulal, one of the engineers who founded Infosys, on August 1.
In tougher times, there seems to be an overwhelming focus on managing the large or anchor clients.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
The stock market comes full circle; pharma also gains prominence, courtesy rupee depreciation
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
The newest CEO in the Tata group brings an aggressive pace and style to India's largest IT consultancy firm.
Indian information technology software and services industry is truly the lighthouse of modern India.
India's second-largest software services company, Infosys Technologies, for instance, plans to hire close to 30,000 this financial year.
Work should not flow; it should get done, said N Chandrasekaran.
With Tata Consultancy Services (TCS) announcing a wage rise for its employees this year and most other industry peers going ahead with their wage increase plans, pressure is expected to mount on Infosys to reconsider its earlier decision.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Cognizant Technology Solutions has restructured its global growth markets (GGM) by appointing two internal leaders who will now share the responsibility. The move follows the exit of former GGM leader Rob Walker last month and is among the slew of leadership changes the company has seen in the recent past. GGM refers to the company's emerging markets outside of North America.
The country's second largest employer in the corporate sector has over 300,000 men and women on its roles in 50 countries.
There have been numerous instances where employees were asked to leave when the information they have shared with the prospective employer has been found to be fraudulent. Background checks are getting more common as companies look to protect their interests and their clients' interests. So, watch what you claim on your CV.
TCS expects the October-December quarter volumes to be lower due to lesser working days.
The quarterly results of India's big four IT (information technology) players (HCL, TCS, Infosys and Wipro) have left investors confused, with no clarity on the sector's outlook.
India's largest software exporter Tata Consultancy Services has been selected to set up the State Data Centre in Uttar Pradesh for the e-delivery of government services.
Firms to find alternative export routes or face increased trade barriers
The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
Company has agreed to pay Rs 160 cr to settle a lawsuit filed by two former employees over unpaid wages.
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.
Change of guard and strategy has rejigged the financials and order of top IT companies.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
TCS posts one of the highest volume growth and best margin performance.
Shortly after the twin earthquake-tsunami that hit Japan, Indian IT firms had started calling back employees.
While Tata Consultancy Services, HUL, ITC and Infosys saw a rise in their market capitalisation (m-cap) for the week ended Friday, RIL, HDFC Bank, HDFC, Maruti Suzuki India, SBI and Kotak Mahindra Bank suffered losses.
Both groups warn of initiating strict actions, issue public notices.
With prominent Indian IT companies such as Tata Consultancy Services (TCS), Wipro, Infosys Technologies, Zensar Technologies and Satyam Computer Services increasing their presence in Japan, the world's second largest IT services market is becoming a lucrative market for India.
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
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