IT major Tata Consultancy Services (TCS), in its Q4FY22 results, said the company's banking, finance services and insurance (BFSI) crossed the $10 billion milestone. This includes revenue from financial products, services and platforms. For Suresh Muthuswami, who recently took over as Chairman of North America, one of the focus will be to grow this percentage going ahead. The first step to grow the US market is hiring. Muthuswami said that the company will be hiring more in the US, especially from the campuses. In FY22 TCS hired over 7,000 people in the US and going ahead too the numbers will be similar.
Stock investors have become richer by Rs 10.47 lakh crore in two straight days of gains in markets as benchmark Sensex jumped 2 per cent. At close on Wednesday, the market capitalisation of BSE-listed companies surged by Rs 10,47,565.48 crore to Rs 4,52,58,633.53 crore ($5.37 trillion) in two days of gains. "The feel good factor of Trump's win in the US election had a rub-off effect on world equity markets, including local indices as domestic investors resorted to value buying, especially in IT stocks, which pushed the benchmark Sensex above the 80k mark.
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.
While TCS and HCL Tech remain the favourites of most analysts, the latter believe there could be more pain left for Infosys' stock.
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.
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.
TCS was in charge of development and management of the portal for seven years, until MCA decided to hand the work of its IT vendor to Infosys.
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.
TCS has bagged a Rs 784 crore outsourcing order from Sun Life Financial of Canada.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
Tata Consultancy Services (TCS) has weathered the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm's standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday. He said TCS shareholders received over 3,000 per cent return on their investments since the company was listed in 2004.
The earnings season this financial year is expected to start on an exciting note, as two information technology (IT) behemoths Infosys and Tata Consultancy Services (TCS) report their first quarter numbers on the same day. By now, TCS is expected to report a better set of numbers than Infosys.
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
India's largest software exporter Tata Consultancy Services has been selected to set up the State Data Centre in Uttar Pradesh for the e-delivery of government services.
The scope of the project covers end-to-end IT infrastructure services, which will be provided from TCS' global delivery centres in the Netherlands, Hungary and India, TCS said in a statement.
With revenues of $13.4 billion for FY14, Tata Consultancy Services (TCS) has managed to deliver consistent growth for both the fourth quarter and the full year.
Country's largest software exporter Tata Consultancy Services on Tuesday said it has set up a software development and delivery center in North America with a capacity of 1,000 seats to cater to the customers there. The center located in Milford, Ohio, a suburb of Cincinnati, can accommodate up to 1,000 associates, TCS said in a statement. Cincinnati and the Ohio region met all TCS' criteria in terms of proximity to customers, strong talent pool and 10 Fortune 500 Companies.
TCS CEO and MD Rajesh Gopinathan said the company believes the coronavirus impact has "bottomed out" and that TCS should now start tracing its path to growth.
From car electronics to safety, aerodynamics to trouble-shooting, TCS will work with the Ferrari F1 team to provide IT-based solutions before, during and between races.
The buyback offer saw subscription of approximately 1.47 times the maximum number of equity shares proposed to be bought back
The company has been able to help clients to transform their business and beat cost during the slowdown.
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.
India's largest information technology services provider, Tata Consultancy Services (TCS), beat analyst expectations on both net profit and operating margins during the fourth quarter ending March 31.
Tata Consultancy Services (TCS), the country's largest information technology (IT) services provider, has planned to launch what it terms 'SME Cloud' in a fortnight. Under which, it would provide hosted services for enterprises having a Rs 50-500 crore turnover.
While the software industry continues to reel under a recession, Tata Consultancy Services, has seen the exit of 5,000 employees.
The IT sector's fresher hiring is expected to rise by 20% to 25% for 2024-2025. The increase in hiring is driven by a focus on specialised skills catering to segments like AI, machine learning and data analytics.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
The TCS board approved a special compensation of Rs 5 crore (Rs 50 million) over and above the Rs 3-crore (Rs 30-million) commission due to him for the last financial year.
IT giant Tata Consultancy Services (TCS) on Tuesday slipped to fourth position in the list of the country's most valued companies, below Reliance Industries, ONGC and Coal India Ltd.
From the 30-share Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards. Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Nestle and State Bank of India were among the gainers.
N Chandrasekaran, managing director and CEO of Tata Consultancy Services, talks to Business Standard on the growth outlook and why the current slowdown is unlike the one in 2008.
TCS expects the October-December quarter volumes to be lower due to lesser working days.
BusinessWeek in its '2007 Information Technology 100 listing' has placed TCS on 23rd position among world's leading IT companies.
The complaint was filed by non-US employees Gopi Vedachalam and Kangana Beri, who were sent from India to the US to work on projects.
Partnership will ensure that Intel's chips sell better in systems that are used by large enterprises
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
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.
Tata Consultancy Services TCS) said it has bagged a Rs 85-crore three-year deal for implementing smart card-based Financial Inclusion Solution (FIS) for Indian Bank.
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