On the back of growing clout of the Indian IT sector, domestic giants Tata Consultancy Services, Infosys and Wipro may soon join the league of top 10 most valued firms globally in terms of market capitalisation in the next 2-3 years.
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
India's largest software exporter Tata Consultancy Services on Wednesday posted a consolidated net profit of Rs 1,290.61 crore (Rs 12.90 billion) for the first quarter ended June 30, 2008, an increase of 7.3 per cent compared to the year-ago period.The group had recorded a consolidated net profit of Rs 1,202.93 crore (Rs 12.02 billion) for the corresponding period a year ago, it said in a filing to the Bombay Stock Exchange.
Equity benchmark indices Sensex and Nifty buckled under selling pressure after a nine-session rally on Monday, as massive sell-off in IT, tech and telecom counters unnerved investors.
India's largest IT company Tata Consultancy Services will consider acquisitions in Europe and plans to increase headcount at its Latin American and Chinese operations to 1,000.
Dividend pay-out by the group companies grew at a compounded annual rate of 15.7% under Cyrus, sharply up from 2.5% in the previous three years
The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.
The Securities and Exchange Board of India has issued "certain observations" and "sought clarifications" on draft prospectus for Tata Consultancy Services Ltd's initial public offering.
The gauge for the performance of informational technology (IT) stocks soared nearly 5 per cent-most in nearly three years-as growth worries eased following a robust order book posted by bellwether Tata Consultancy Services (TCS). The Nifty IT index rose 4.5 per cent to close at 30,945. This was the biggest single-day gain since September 14, 2020. Industry titan TCS' shares rose 5 per cent to Rs 3,509.
The Street shrugged off a muted first quarter of financial year 2023-24 (Q1FY24) and a cautious near-term outlook by India's largest information technology (IT) services company, Tata Consultancy Services (TCS). The stock was the top Nifty50 and Sensex gainer on Thursday, rising 2.5 per cent, as investors took comfort from a robust order book and an encouraging pipeline. Like its larger peer, HCL Technologies' (HCL Tech), too fell short of the Street's expectations on the revenue and margin fronts given cuts in discretionary expenditure.
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.
Gaurav Walia and Shraddha Dali were crowned All India National Ranking Junior Champions
The company believes that the knowledge base of these candidates is as strong as their counterparts belonging to bigger cities. Eligibility criterion for trainees would be a minimum 60 per cent score in all the degrees attained.
'The impact of CEO transition is fairly even for stocks, with about half (53 per cent) of the events not producing any change in the relative performance of the stock.'
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Tata Consultancy Services, with exports worth $806.1 million is the largest software exporter during 2001-02, while Celetron India led the race in exports of computer hardware.\n\n\n\n
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
HCL Technologies Ltd, India's No. 4 IT services exporter, beat expectations with a 41.6 percent rise in quarterly profit, after order wins boosted earnings.
That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, explains T N Ninan.
Tata Consultancy Services' much-awaited initial public offer to mop up an estimated over Rs 5,000 crore is likely to hit the market on July 29 subject to all approvals from the Securities and Exchange Board of India.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on quarter-on-quarter basis.
Nine of the top-10 most valued companies together lost a whopping Rs 309,178.44 crore in market valuation last week as selloffs continued. In a holiday-shortened past week, the 30-share BSE Sensex plummeted 1,836.95 points or 3.11 per cent amid geopolitical tensions, global sell-off triggered by a hawkish US Federal Reserve and unabated foreign fund outflows. From the top-10 list, State Bank of India was the lone gainer as its valuation jumped Rs 18,340.07 crore to reach Rs 467,069.54 crore.
Nine of the top-10 most valued domestic companies together added a whopping Rs 2,22,591.01 crore in market valuation last week, with heavyweights RIL, TCS and HDFC twins gaining the most. During the last week, the BSE benchmark Sensex rallied 1,690.88 points or 3.21 per cent. The index reached its all-time high of 54,717.24 on August 5. Barring Bajaj Finance, rest nine companies -- Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever Ltd (HUL), ICICI Bank, HDFC, State Bank of India and Kotak Mahindra Bank -- logged gains.
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
The offshore development centre of information technology major Cadence Design Systems has dislodged Infosys Technologies from its top position to emerge as the best employer of the Indian IT industry in 2003.
The buyback, at Rs 2,100 per equity share, entails up to 7.61 crore shares or 1.99 per cent of the total paid up equity share capital.
The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore).
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
'A cutback in hiring and compensation growth by IT companies will have a significant impact on consumer demand, especially in the urban sector of the economy.'
Software exports from Bangalore, India's IT hub, has jumped by 35 per cent to Rs 22,000 crore (Rs 220 billion) in 2004-05
Hit by a Supreme Court ruling on sales tax on software, India's largest software exporter Tata Consultancy Services said on Monday that any levy would have a dampening effect on the software product market of the country, which is in its nascent stag
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
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