Betting big on the inorganic growth strategy, Tata Consultancy Services on Thursday said its initial public offer would help bolster resources for 'significant' acquisitions for future growth.
Tata group firm TCS on Wednesday replaced Mukesh Ambani-led Reliance Industries as the country's most valued company in terms of market capitalisation, as investors rallied behind the shares of the IT giant.
The roll-out of the auto enrollment began in October 2012.
The facility will cater to govt services that require Inpact Level 3 security.
The firm-level optimism derives partly from the state of the global economy.
Indian IT major Tata Consultancy Services will open a branch in Israel within six months and has already chosen a local manager.
Infy's cash utilisation may play role in whether valuation gap too narrows
Tata Consultancy Services, the $2 billion listed IT company from the Tata group is looking at expanding its global base by exploring untapped markets in Eastern Europe, Russia and China.\n\n
Tata Consultancy Services (TCS) on Wednesday announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share. In 2017 and 2018 too, TCS had undertaken buyback offers of similar sizes.
The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
TCS has been Three UK's partner for 15 years, working with a variety of business units and has been instrumental in supporting the company's ambition of becoming the world's first telco to host all its applications entirely on the public cloud.
The settlement is subject to fairness review and approval by the court.
According to NASSCOM and McKenzie, it is projected that Indian IT sector will need around nine million employees and currently it has only 3.2 million, he informed.
The market capitalisation of a listed company corresponds to the cumulative market price of all its shares.
Revenue of the Mumbai-based firm grew 6.7 per cent in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal.
From the 30-share Sensex pack, Adani Ports surged 6 per cent. NTPC, HDFC Bank, Bajaj Finance, Maruti and Axis Bank were among the other gainers. In contrast, Titan, State Bank of India, Asian Paints, Tata Consultancy Services, HCL Tech, Sun Pharma, IndusInd Bank and ICICI Bank were among the laggards.
M&B is partnering with TCS to streamline the management of its HR and Payroll operations.
Market experts believe TCS to post better quarterly earnings vis-a-vis Infosys.
The overall momentum is very strong, said the company CEO.
State-owned Life Insurance Corporation (LIC) announced on Monday that it had signed up tech giant Infosys to develop a next-generation digital platform that will act as the foundation for new high-value business applications, such as customer and sales super apps, portals, and digital branches. The financial terms of the deal remain undisclosed. The tie-up with Infosys is part of LIC's "long-drawn" strategy, said a senior executive of India's biggest insurer, who noted that the IT giant "won the bid to develop the next-generation platform through a request for proposal (RFP) process".
Trump's tariff threats spooks markets; Sensex down 106 points
Investors' wealth tumbled by Rs 9 lakh crore on Friday, in tandem with a sharp decline in the domestic equity market, where the benchmark Sensex plunged 1,414 points following a bearish trend in global equities. Fresh tariff threats that ignited global trade war fears and relentless foreign fund outflows dented investor sentiment, analysts said.
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.
The pilot project would begin from South 24 Parganas district and be gradually extended to all other 18 districts of the state, Panchayat and Rural development minister Subrata Mukherjee said.
Close to 1,500 trainees who will join India's largest information technology services provider, Tata Consultancy Services (TCS), by the end of September, will not be eligible for variable pay till they complete their six-month training period.
In 2010, TCS's brand value was $2.3 billion.
The country's largest information technology (IT) service provider, Tata Consultancy Services (TCS) is all set to expand its footprint in West Bengal, according to state IT minister Partha Chatterjee.
According to bulk deal data available on the National Stock Exchange, TCS promoter group firm Tata Industries has sold 1.03 crore shares of TCS at Rs 615.04 a piece, aggregating to over Rs 634.80 crore. As of March quarter, Tata Industries held 5,14,850 shares representing 0.05 per cent stake in TCS.
India's largest software services exporter Tata Consultancy Services on Friday said it will expand its strategic business alliance with US-based Dow Chemicals that will create new jobs in Midland-Michigan.
TCS chief executive officer Natarajan Chandrasekaran gave this assurance to Orissa Chief Minister Naveen Patnaik during a meeting in Bhubaneswar.
India's largest IT services firm Tata Consultancy Services on Wednesday said it won a contract from Eli Lilly to provide various drug development services to the US pharma firm.
Tata Consultancy Services on Monday said China's Hua Xia Bank has selected its core banking solution of Financial Network Services to facilitate the bank's technology-powered business transformation.
While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
This could fundamentally transform the industry that had been a major source of employment in countries like India and the Philippines.
The Microsoft-TCS virtualisation CoE is a joint initiative by the companies to accelerate the adoption of virtualisation technology in India, TCS said in a filing to the Bombay Stock Exchange on Tuesday. Virtualisation is the creation of a virtual (rather than actual) version of something, such as an operating system, a server, a storage device or network resources. This helps companies in cutting costs and optimising resources.
First, TCS is on track to grow faster than the industry's estimated 11-14 per cent growth (in constant currency). The second quarter has seen no major shift in demand or project cancellations, which were big concerns.
Tata Consultancy Services Ltd and Microsoft were selected as strategic partners by Sino-India Cooperative Office of China to set up a software joint venture company for IT outsourcing services and solutions to both global and domestic market.
IT company Tata Consultancy Services and aircraft design company Hindustan Aeronautics Ltd have entered into a strategic partnership to provide engineering solutions for the global aerospace industry.
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