'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.'
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
The Indian companies, however, invested a much lower $1.59 billion in overseas markets in the previous month May 2014.
Strong performance by technology (tech) stocks in the current year has led to superior returns in information technology (IT) sector funds. On average, tech funds have given returns of 63.53 per cent in the past one year, the highest among all categories of funds, reveals the data from Value Research. Market participants say that Covid-19 has accelerated the growth of IT companies with rise in demand for digitisation.
In 2006-07, TCS had employed 7,000 people in the eastern states.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
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.
India's largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its up to Rs 16,000-crore share buyback programme will commence on December 18 and close on January 1, 2021. Last month, TCS shareholders had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at Rs 3,000 per scrip for an aggregate amount not exceeding Rs 16,000 crore.
Together with its share buyback worth Rs 16,000 crore completed in January this year, TCS shareholders will receive a record Rs 30,250 crore from their company in FY21.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
A financial turnaround in Tata Steel and Tata Motors has come as a shot in the arm for Chandra.
The market capitalisation of Reliance Industries plummeted by Rs 43,491.37 crore to reach Rs 17,26,714.05 crore.
According to Randstad Employer Brand Research (REBR) 2020, Microsoft India scored high on financial health, strong reputation and utilisation of the latest technologies. Others in the top 10 list are Samsung, Amazon, Infosys, Mercedes-Benz, Sony, IBM, Dell, ITC and TCS.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
Wipro hires former TCS veteran as Group Prez & COO.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
N Chandrasekaran received Rs 2.62 crore (Rs 26.2 million) as perks.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
JLR is developing its own autonomous car technologies, which could one day trickle into Tata's more affordable people carriers.
For Tata Consultancy Services (TCS) - India's largest and the world's second-largest IT services provider - the attrition rate touched an all-time high of 17.4 per cent in Q4FY22. The management, following the announcement of the Q4 results, has warned that the attrition situation could become even worse before any improvement. According to analysts, the short term, the attrition rate at TCS could even touch 20 per cent.
The candidates will be selected through a National Qualifier Test. The top 1,000 will be offered a much higher salary -- almost double of that being offered to peers.
Google has emerged as top choice in the Top 100 Ideal Employer Rankings in a survey conducted among Indian management and engineering students.
The hiring scenario is for the batch that passes out in 2024. These are graduates who will be impacted, given 2022 graduates are not fully absorbed and 2023 onboarding still incomplete.
'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.'
Equity market capitalisation dropped to a seven-month low in February, with the top 10 companies losing a whopping Rs 3,33,307.62 crore in market valuation last week. The total equity market capitalisation (m-cap) in February 2022 stood at Rs 2,49,97,053.39 crore. The previous low was in July 2021, when the m-cap of BSE-listed companies was at Rs 2,35,49,748.9 crore. In January, the m-cap stood at Rs 2,64,41,207.18 crore.
IT firms are training employees of their clients and even aspiring IT professionals, in order to create fresh revenue streams amid shrinking deal sizes in traditional software maintenance, says Ayan Pramanik.
Growth is coming across both government as well as private sector.
Equity benchmarks continued their winning momentum for the third day on Thursday and jumped over 1.50 per cent, tracking an overall bullish trend in Asian equities. On the political front, the BJP headed for a second straight win in politically crucial Uttar Pradesh and dominated the trends chart in three other states. The 30-share BSE benchmark Sensex opened in the green and further zoomed 1,595.14 points or 2.91 per cent to 56,242.47 during early trade.
Apple's stock rose 5.89 per cent to a record-high close of $201.50 on Wednesday following the company's better-than-expected quarterly results.
From disbursing Rs 25.11 crore to political parties in 2014-2015, the Tata group is learnt to have contributed Rs about Rs 600 crore towards the 2019 Lok Sabha election.
The market capitalisation of Tata Consultancy Services (TCS) on Wednesday breached the Rs 13.5 lakh crore mark -- the second company after Reliance Industries Ltd to achieve the feat. At close of trade, the market valuation of TCS stood at Rs 13,53,667.85 crore on BSE. The company had touched the Rs 13 lakh crore valuation level on August 17, when its market capitalisation (m-cap) stood at Rs 13,14,051.01 crore.
India's largest software services firm Tata Consultancy Services (TCS) said the tenure of its Chief Executive Officer and MD N Chandrasekaran has been extended by five years to October 2019.
Infosys has been making bets on automation and other high-margin services like artificial intelligence to regain some ground
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
The company's IT services segment had a headcount of 158,217.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
After Rs 800 million makeover, Bombay House reopened on July 29, 2018. The earlier dull interior with low technology has given way to a lot more colour and vibrancy.
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.
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