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.
In tougher times, there seems to be an overwhelming focus on managing the large or anchor clients.
Sikka will take over from current Chief Executive SD Shibulal, one of the engineers who founded Infosys, on August 1.
The stock market comes full circle; pharma also gains prominence, courtesy rupee depreciation
From the Sensex pack, HDFC, HDFC Bank, Mahindra & Mahindra, UltraTech Cement, Tata Steel, Bajaj Finance, State Bank of India, Reliance Industries, Bajaj Finserv and ICICI Bank were the major gainers. Power Grid, Maruti, Tech Mahindra, IndusInd Bank, HCL Technologies and Axis Bank were among the laggards.
The newest CEO in the Tata group brings an aggressive pace and style to India's largest IT consultancy firm.
India's largest IT services firm Tata Consultancy Services (TCS) on Friday reported a 5.2 per cent year-on-year rise in consolidated net profit to Rs 9,478 crore for the first quarter ended June 30. The consolidated revenue from operations increased 16.2 per cent year-on-year to Rs 52,758 crore in the first quarter of FY23. TCS has declared an interim dividend of Rs 8 per equity share of Re 1 each.
Indian information technology software and services industry is truly the lighthouse of modern India.
With the rush of growth after the pandemic slowing down, many leaders are moving to firms that may be smaller but are growing much faster and have the headroom to grow.
If the index is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels.
India's second-largest software services company, Infosys Technologies, for instance, plans to hire close to 30,000 this financial year.
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.
Work should not flow; it should get done, said N Chandrasekaran.
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.
Firms to find alternative export routes or face increased trade barriers
The country's second largest employer in the corporate sector has over 300,000 men and women on its roles in 50 countries.
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.
From the Sensex firms, Bajaj Finance, HDFC, HDFC Bank, Bajaj Finserv, Asian Paint, State Bank of India, Tata Consultancy Services, Bharti Airtel, Reliance Industries and Tata Steel were the biggest gainers. HDFC climbed 2.59 per cent after the housing finance major on Thursday reported a 20 per cent growth in standalone net profit to Rs 4,425 crore for the quarter ending March 2023 on the back of higher interest income. IndusInd Bank, Nestle, Power Grid, ITC, Tata Motors and Mahindra & Mahindra were the major laggards.
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.
Wipro was the biggest loser in the Sensex pack, slipping nearly 2 per cent, followed by IndusInd Bank, State Bank of India, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Tata Consultancy Services, HDFC and Bajaj Finserv. On the other hand, Nestle, Mahindra & Mahindra, ITC, HCL Technologies, Asian Paints and Maruti were among the gainers.
The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
Benchmark indices finished on a weak note on Thursday, extending their previous day's decline amid a negative trend in global equity markets after the US Fed hiked interest rates by 75 basis points. The 30-share BSE Sensex declined 69.68 points or 0.11 per cent to settle at 60,836.41. During the day, it tanked 420.95 points or 0.69 per cent to 60,485.14.
In about a fortnight, Vistara - known for its premium service - will take off on its final flight before merging into the legacy of Air India. Set for November 12, the merger has sparked discussions on how these two distinct brands will blend.
Both groups warn of initiating strict actions, issue public notices.
Overlooked yet capable candidates will now have the opportunity to apply for TCS open requirements.
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.
Company has agreed to pay Rs 160 cr to settle a lawsuit filed by two former employees over unpaid wages.
Change of guard and strategy has rejigged the financials and order of top IT companies.
Shortly after the twin earthquake-tsunami that hit Japan, Indian IT firms had started calling back employees.
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.
Abid Ali Neemuchwala, its vice-president and global head of BPO Services, said these deals, along with its end-to-end BPO services offering, will help it attain a compounded annual growth rate of 45-50 per cent, to touch its target of $3 billion in the next five years. The BPO unit had a revenue of $415 million (around Rs 2,033 crore) last year.
TCS posts one of the highest volume growth and best margin performance.
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.
There are some companies that provide just about everything.
The branding exercise is estimated cost Rs 100-200 crore to the Tata Group.
Fresher hiring, which has been subdued as Indian information technology (IT) services firms scaled back their recruitment, is set for a turnaround. The IT sector's fresher hiring is expected to rise by 20-25 per cent for 2024-25 (FY25). Additionally, the global capability centres are projected to boost their fresher hiring by 40 per cent compared to last year, according to a TeamLease Digital analysis.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
