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 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.
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.
Billionaire Mukesh Ambani's Reliance Industries Ltd is the most valuable private company in the country, as per Hurun India's 2022 Burgundy Private Hurun India 500 list. The list, which was released on Tuesday, stated that with a value of Rs 16.4 lakh crore, Reliance is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore. Reliance is also the highest taxpayer with a payout of Rs 16,297 crore and the most profitable company with a bottomline of Rs 67,845 crore in 2022-23.
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
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.
Excellent execution and a constant focus on the customer has helped TCS.
Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on Thursday, tracking a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment. Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33.he broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
Benchmark BSE Sensex rose by over 379 points on Tuesday as gains in oil & gas, banking and auto shares helped the barometer continue winning run for the third straight session. The 30-share BSE benchmark index advanced 379.43 points or 0.64 per cent to settle at 59,842.21. During the day, it jumped 460.25 points or 0.77 per cent to 59,923.03. The broader NSE Nifty climbed 127.10 points or 0.72 per cent to 17,825.25 as 42 of its constituents advanced.
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.
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.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
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.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
India's largest software exporter Tata Consultancy Services has set up its fourth research lab in New Delhi.
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.
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.
The 36 India probables were imparted 'Bono' therapy in a bid to enhance creativity and thinking as the skills specific camp began.
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.
Even as the slowdown in the information technology (IT) services sector deepens, banking, financial services and insurance (BFSI), as well as oil and gas companies, emerge as the primary drivers of corporate earnings in the country. The IT services sector's share in corporate earnings declined to a five-year low of 17.4 per cent in the second quarter (Q2) of 2023-24 (FY24), whereas banks and finance companies accounted for 46.5 per cent, and oil and gas firms contributed 16.8 per cent. At their peak, IT services firms like Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro represented just over a third of the combined net profit of all listed companies in the Business Standard sample.
Symbolism was evident at the Aero India 2007 air show that concluded in Bangalore on Sunday.
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.
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.
Tata Consultancy Services (TCS) is set to secure a $2 billion deal from Bharat Sanchar Nigam (BSNL) to roll out its 4G and 5G services across the country. However, the final approvals from the publicly-owned telco may take a couple of months, sources in the know said. As part of the deal, TCS will develop 4G core and Radio Access Network (RAN) technology for BSNL's telecom services.
Consultancy Services CEO S Ramadorai was named Manager Entrepreneur of the Year.
