But MNCs like IBM, Accenture, CSC and HP likely to get affected more.
Kotak Mahindra Bank was the biggest loser in the Sensex pack, sliding 2.68 per cent, followed by Tech Mahindra, Mahindra & Mahindra, Axis Bank, Hindustan Unilever, Tata Motors, Tata Consultancy Services, Bajaj Finserv, Bajaj Finance, Nestle and Titan. In contrast, NTPC, Power Grid, Larsen & Toubro, HDFC, Reliance and HDFC Bank were the gainers.
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.
Tata Sons has started the process of due diligence of state-owned Air India and its subsidiary Air India Express. Sources said the group has appointed Bain and Company and Seabury Group for this purpose. Once complete, a financial bid will be submitted and a deal to take over the airline is likely to fructify by end of this year or even earlier, people involved in the process said. Simultaneously, the group has brought in veterans in the aviation business from Delta and United Airlines to prepare a plan for post-merger integration of Air India with its existing airline ventures. Tata Sons operates Vistara - a 51:49 percent joint venture with Singapore Airlines and Air Asia India, in which Tatas hold 83.67 per cent stakes.
Tata Consultancy Services' CEO and managing director, S Ramadorai, was awarded with the Commander of the Order of the British Empire.
The corporate credit rating with a positive outlook, BBB, is higher than India's rating and "highlights the financial robustness of our business model and operating strengths of the company," TCS informed the Bombay Stock Exchange. According to S&P, the company has strong liquidity, with cash and bank deposits of Rs 1,230 crore (Rs 12.3 billion), about 9.4 per cent of total assets as on March 31, 2007.
Tata Consultancy Services has adopted several measures like avoiding travel and moving people from onsite to offshore to cut down costs, a senior official of the company said in Hyderabad on Wednesday.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
The Andhra Pradesh government on Wednesday ratified the allotment of 40 acres of land to Cognizant Technology Solutions India Pvt Ltd and 75 acres to Tata Consultancy Services at Adibatla on the outskirts of Hyderabad
Excellent execution and a constant focus on the customer has helped TCS.
Acknowledging Indian entrepreneurs' contribution to the UK's economy, British Prime Minister Tony Blair on Thursday said bilateral ties "were never more exciting" for further strengthening trade and political relations.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. The combined net profit of the Nifty50 companies (excluding Adani Enterprises) is expected to have grown 15.6 per cent to Rs 1.77 trillion in Q4FY23, from Rs 1.53 trillion a year ago.
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.
Infosys aims to achieve an aspirational goal of $20 billion in topline by 2020.
IT major Tata Consultancy Services has bagged the contract to implement end-to-end solutions for national flag carrier Shipping Corporation of India.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
Is Bangalore, India's Silicon Valley and home for some of the biggest information technology firms in the country, slowly losing out to Chennai? It seems so, considering the investment plans of leading IT companies.
Tata Consultancy Services would this year recruit over 30,000 engineering graduates worldwide, a senior company official has said.
Wen Jiabao will hold wide-ranging discussions with Prime Minister Manmohan Singh on Monday, apart from calling on President A P J Abdul Kalam and Vice-President Bhairon Singh Shekhawat.
The TCS CEO spoke about the IT major's operations in Canada.
Telecom operator Bharti Airtel and IT major Tata Consultancy Services (TCS) have joined hands to build a 5G-based remote working technology using robotics, according to a joint statement. TCS during the trials has successfully tested two use cases of its Neural Manufacturing solutions on Airtel's 5G testbed in Manesar - remote robotics operations, and vision-based quality inspection, the statement claimed. "The 5G ecosystem will open limitless possibilities for enterprises to enhance productivity and serve their customers even better with digitally enabled applications.
On Aug 28-31, an average of 1.5 mn e-filed tax returns a day, against IRCTC's daily average bookings of 600,000 & Flipkart's 100,000.
A total of 12 Indian companies made it to the third annual Forbes Asia Fabulous 50 List, followed by Taiwan with 10 and China with seven, Forbes Asia said in a press release.
India's largest software exporter Tata Consultancy Services has set up its fourth research lab in New Delhi.
For instance, India's largest IT firm Tata Consultancy Services -- which is headquartered in south Mumbai where terror struck -- asked its employees to operate out of any of the offices in north Mumbai until further advice. Similarly, Aegis BPO that has a corporate office in Mumbai has asked its employees in Mumbai to operate from home as they all have broadband connections and BlackBerry(s), said Aparup Sengupta, CEO, Aegis BPO.
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
In one of the largest outsourcing deals ever, ABN Amro has signed a Euro 1.8 billion ($2.22 billion) contract with five IT-vendors, including Tata Consultancy Services, Infosys and IBM.
The 36 India probables were imparted 'Bono' therapy in a bid to enhance creativity and thinking as the skills specific camp began.
Symbolism was evident at the Aero India 2007 air show that concluded in Bangalore on Sunday.
India's largest information technology firm Tata Consultancy Services on Wednesday said it would increase headcount in the next financial year and explore both the organic and inorganic routes for growth.
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