The 21st AGM of the company is scheduled to be held in Mumbai on Friday.
Will Infosys, which will announce its Q2 results on Tuesday, be able to break away from the single-digit growth rates the IT services sector has been seeing?
HDFC Bank, Reliance Industries and Housing Development Finance Corporation (HDFC) -- with free-float market cap of over Rs 3 trillion -- have the highest weight in the Sensex and the Nifty.
Top Indian IT firms, such as TCS, Infosys, and Wipro, have signalled taking aggressive cost take-out measures, including reduction in sub-contracting costs, travel expenses, freeze in salary hikes, and holding back variable payments, among others.
It said the decision was a result of the United States government's 'pro-growth economic agenda'.
Evaluation gets tougher as companies battle uncertain macro conditions and automation.
Quarterly revenue from Europe rose 35 per cent, the strongest growth since the company started breaking out revenue by region two years ago.
Morgan Stanley's Asia and Global Emerging Markets Strategy Report downgraded software firms on valuation and earnings concerns.
Stronger rupee likely to take a toll; Infosys results on April 13 to be keenly watched
IT stocks have dropped about 3 per cent in the days since the Donald Trump administration took first steps toward visa reform and all of India's highest-profile technology tycoons have seen their net worth eroded. Saritha Rai reports.
'His working style differs from his father as he is a quick decision-maker.'
TCS said FY15 will be a better year in terms of top line growth and the deal pipeline remains strong
India's roughly $150 billion outsourcing sector generates about three quarters of its revenue from the United States.
W12 Studios will be part of TCS Interactive, further strengthening the already impressive array of creative and experience services it offers
India's top IT companies have shown a hiatus between their performance on the bourses in the pandemic period and earnings growth. The combined market cap of the top five IT companies - Tata Consultancy Services, Infosys, Wipro, HCL Technologies, and Tech Mahindra - is up 87 per cent since the end of March 2020. In comparison, the benchmark BSE Sensex is up 68 per cent during the period. So the industry beat the broader market by a big margin in the last one year.
While Wipro leads the pack on absolute numbers, analysts for Infosys for reporting consistent growth, revising FY22 guidance and beating TCS on revenue growth.
AI, cloud computing, data analytics are a few areas companies are looking for proficiency in
Revenues, profit margins will be hit in the next one year, but more demand in the longer run.
Ex-employee Steven Heldt had sued the company for favouring South Asians and discriminating against American workforce.
The appraisals being done by most companies this year are harsher than past ones with higher threshold in many metrics. Reduction in headcount has been done across most tier-I and tier-II IT firms along with global technology firms in the country.
The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike, severance package to former employees and corporate governance standards.
In dollar terms, TCS' market valuation rose to $84 billion.
Sikka ranks 35th in the list.
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
The funds raised by employees were matched by an equal contribution from Wipro.
There was an uptick in clients' spends in the digital segment.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
The improving outlook for the power sector has caught the interest of dividend yield funds. In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector. Some have even introduced new stocks to their portfolios.
The US is the biggest market for the outsourcing industry.
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
This challenge has been made a little more daunting with the addition of two new uncertainties.
While TCS will see demand in the US and Europe, its local business is likely to be hit on poor IT spending.
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
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.
TCS has done better than Infosys in sequential and yearly revenue growth so far this financial year.
Total of 11 private Indian firms have made it to the list of 500 most valuable companies across the world, and the country is ranked 10th on the chart, as per a report. The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP. All these companies in the list of non-state enterprises have gained in value during 2020, which was hit by the pandemic, barring tobacco major ITC and second largest private sector lender ICICI Bank, as per the 'Hurun Global 500' report.
The early bird results for the January-March 2022 quarter (Q4FY22) hint at a slowdown in corporate sector growth in the upcoming quarters. The combined net sales of the 81 early bird companies in the Business Standard sample were up 15.1 per cent year-on-year in Q4FY22; this was less than the 15.9 per cent YoY jump reported in Q3FY22. The slowdown could be much stronger for the domestic market-focused companies, including those in the banking, finance, and insurance (BFSI) space.
'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.'
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
On the BSE, 1,493 shares declined and 1,236 shares rose. A total of 177 shares were unchanged
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