Tata Teleservices on Wednesday announced outsourcing of its entire IT infrastructure management to group company Tata Consultancy Services, a deal estimated at over Rs 1,000 crore (Rs10 billion) over five years.
Benchmark equity indices Sensex and Nifty ended lower on Monday after hitting their all-time high levels in early trade amid selling in blue-chip IT stocks and HDFC Bank. After breaching the 77,000-mark during the early trade, the 30-share BSE Sensex came under selling pressure at the fag-end of the session and ended 203.28 points or 0.27 per cent lower at 76,490.08. During the day, the benchmark jumped 385.68 points or 0.50 per cent to hit a new record of 77,079.04.
Among the Sensex firms, Axis Bank fell over 4 per cent, emerging as the biggest laggard. State Bank of India, IndusInd Bank, NTPC, UltraTech Cement, Bajaj Finserv, Tata Steel, JSW Steel, Maruti and Larsen & Toubro were the other major laggards. Nestle, Hindustan Unilever, HDFC Bank, Tata Consultancy Services, Infosys, HCL Technologies, and Asian Paints were among the gainers.
In an interesting move, S Ramadori, chief executive officer and managing director of information technology major Tata Consultancy Services, recently said that TCS may provide IT services to casinos in Macau.
TCS's mcap crossed $100 billion in 2018, 13.5 years after the IPO. It took only four more years to double its mcap to $200 billion.
Among the Sensex firms, HCL Technologies, Tata Consultancy Services, Maruti, Wipro, Larsen & Toubro, Infosys, Tata Steel, Bharti Airtel, State Bank of India, Tech Mahindra, UltraTech Cement and Mahindra & Mahindra were the major gainers.
The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services. However, concern about the macro-environment continues to be a challenge. Among the top four - Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro - it is Bengaluru-based Infosys that has performed the best and that was evident in its full-year revenue guidance.
Tata Consultancy Services (TCS) on Tuesday ruled out cutting down on hiring, saying it has no plans of doing so but it may have to pace hiring according to the evolving demand scenario. TCS is the largest Indian software exporter in terms of headcount, revenue and profit. The statement comes amidst a report that the software industry is going soft on hiring as demand falters from their key markets and some of them are even going back on their campus offers.
A family priest performed the prayers as per Parsi tradition before the last rites.
From the Sensex basket, Sun Pharma, Maruti, Power Grid, Titan, JSW Steel, Tech Mahindra, Larsen & Toubro and State Bank of India were the major laggards. Tata Motors, Tata Consultancy Services and Nestle were the gainers.
Shares of Tata Consultancy Services (TCS), the country's largest IT services provider, continue to remain under pressure, hitting a new eight-month low of Rs 3,624.90 intraday on Tuesday before closing at Rs 3,631, down 1.19 per cent. In the past two trading sessions, the stock price has declined 4 per cent on fears of a slowing US economy.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Among the Sensex firms, Tata Consultancy Services, Larsen & Toubro, Infosys, UltraTech Cement, ICICI Bank, Nestle, ITC and Sun Pharma were the major gainers. Power Grid, NTPC, Tata Motors, Tata Steel, Mahindra & Mahindra and Reliance Industries were among the laggards.
Benchmark BSE Sensex rebounded sharply by 941 points while NSE Nifty closed above the 22,600 level on Monday on the back of buying in banking and infra shares and a global stocks rally. The 30-share BSE Sensex jumped 941.12 points or 1.28 per cent to settle at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
Among the Sensex firms, NTPC, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, Bajaj Finserv, UltraTech Cement and Bajaj Finance were the major laggards.
Tata Consultancy Services has taken action against six employees after finding them guilty of accepting favours from certain staffing firms in the appointment of contractual workers, Tata Sons chairman N Chandrasekaran said on Thursday. The largest IT services exporter is investigating the role of three more of its employees, Chandrasekaran said while speaking at the TCS annual general meeting in Mumbai. "We have banned six employees and also six companies," he said in response to questions from shareholders.
India now has three companies in the global top 100 list in terms of market value: Reliance Industries (RIL) ranks 72, Tata Consultancy Services (TCS) is at 86 and HDFC Bank at 99.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a "discrepancy," and the tax department will be reprocessing the returns. "We understand that the tax authorities will be reprocessing the returns, post which TDS shall be in sync with Form 26AS issued by the Income Tax Department, and Form 16 Part A issued by TCS. Associates that received the notice will receive a rectification intimation in due course and are not required to pay any demand amount.
Among the Sensex firms, Larsen & Toubro, Tata Consultancy Services, Infosys, HCL Technologies, Hindustan Unilever, Axis Bank, ICICI Bank and Wipro were the major gainers. Nestle India, Asian Paints, JSW Steel, Kotak Mahindra Bank and HDFC Bank were among the losers.
Tata Consultancy Services has surpassed Infosys to become India's most respected company.
Larsen & Toubro was the biggest gainer in the Sensex pack, rising 2.35 per cent, followed by Titan, Tata Consultancy Services, Maruti, Mahindra & Mahindra, Infosys, ICICI Bank and Asian Paints. In contrast, Power Grid, Nestle, NTPC, HCL Technologies and Bajaj Finance were among the laggards.
Reliance Industries was the biggest gainer in the Sensex pack, rising 2.69 per cent, followed by HCL Tech, ICICI Bank, Tata Motors, Wipro, IndusInd Bank, JSW Steel, Wipro, Tata Consultancy Services and Titan. In contrast, NTPC, Power Grid, UltraTech Cement, Axis Bank, Infosys and Nestle were the major laggards.
Equity benchmark indices Sensex and Nifty closed marginally lower on Friday as investors booked profit in FMCG, IT and healthcare stocks after the BSE Sensex and Nifty hit fresh lifetime highs in intra-day deals. The 30-share BSE Sensex dipped 7.65 points or 0.01 per cent to settle at 75,410.39. During the day, it rallied 218.46 points or 0.28 per cent to hit its all-time intra-day high of 75,636.50.
'We consider everyone who lost someone in this tragedy as part of our family -- now and forever.'
From the 30-share Sensex blue-chip pack, Titan, Adani Ports, UltraTech Cement, Tata Consultancy Services, NTPC, Bharti Airtel, Tech Mahindra, Infosys, Hindustan Unilever and JSW Steel were the biggest laggards.
From the Sensex pack, Nestle, Tata Consultancy Services, IndusInd Bank, Asian Paints, Bharti Airtel, Tech Mahindra, UltraTech Cement, Kotak Mahindra Bank and Hindustan Unilever were among the major laggards. Tata Steel, JSW Steel, HCL Technologies, Axis Bank, Power Grid and Mahindra & Mahindra were among the gainers.
From the Sensex pack, Bajaj Finserv, HDFC Bank, Tata Motors, HCL Technologies, Tata Consultancy Services, Axis Bank, Infosys, IndusInd Bank, Tech Mahindra and Maruti were the major laggards. NTPC, Power Grid, Mahindra & Mahindra, JSW Steel, Bajaj Finance, ITC and Reliance Industries were among the gainers.
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".
Shares of Tata Consultancy Services (TCS) jumped 4 per cent on Tuesday, taking its market valuation to above Rs 15 lakh crore mark. The stock of the country's second most valued firm by market valuation jumped 4.05 per cent to settle at Rs 4,133.45 apiece on the BSE. During the day, shares of the company climbed 4.45 per cent to Rs 4,149.75 -- its all-time high.
The deal is expected to close in the January-March quarter.
Russian and Indian companies including TCS and JSC Helicopters signed 3 different agreements to set up JV and strengthen technology partnerships.
From the Sensex pack, Jio Financial Services fell the most by 4.99 per cent. Reliance Industries, Power Grid, Larsen & Toubro, JSW Steel, HCL Technologies, NTPC, Tata Steel, Wipro, Tata Consultancy Services and HDFC Bank also declined. IndusInd Bank, Infosys, UltraTech Cement, ICICI Bank, Nestle and Axis Bank were among the gainers.
