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.
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.
'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.'
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 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.
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).
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.
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.
Gaurav Walia and Shraddha Dali were crowned All India National Ranking Junior Champions
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.
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.
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.
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.
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
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.
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.
'There will be 200 ITIs developed as hubs, while 800 will be developed as spoke, connected with five National Skill Training Institutes.'
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.
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).
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.
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
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
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
With clients increasingly looking at cost optimisation by passing on the risks to the IT vendors and IT services players demanding longer tenure deals to hedge their risks, a mix of these two factors are giving rise to large deals coming up in the market with a lot of strings attached.
The corporate sector should give priority to building toilets in schools as part of their corporate social responsibility initiatives.
Insurer likely to support Ratan Tata; reduction in stake might have been profit booking.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Wipro, which employs 22,000 people across Chennai, is the latest IT service provider to warn of the impact of the floods in a city
American tech billionaire Elon Musk on Saturday said his proposed visit to India has been postponed due to "very heavy Tesla obligations". The electric carmaker Tesla CEO -- who was expected to be in India on April 21 and 22 and scheduled to meet Prime Minister Narendra Modi -- wrote on X that he is looking forward to coming to India later this year.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
India's largest software exporter Tata Consultancy Services will expand its one-year old China software development centre in a big way over the next couple of years.
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