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.
TCS has got a special recognition for its initiative to the lift of one million people in the inner part of India, by reaching out to the educated among the backward community and training them as well as making them economically-active through employment, TCS' Singapore-based President Vish Iyer told PTI on Monday.
Software major Tata Consultancy Services on Wednesday reported a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter of last fiscal against Rs 9,959 crore in the year-ago period. The country's largest technology services company by market value said its revenue rose 16.9 per cent to Rs 59,162 crore during the reporting season from Rs 50,591 crore a year ago.
IT major Tata Consultancy Services has bagged the contract to implement end-to-end solutions for national flag carrier Shipping Corporation of India.
India's largest software services company Tata Consultancy Services (TCS) on Wednesday it has seen a surge in demand for its services and expects to recruit 10,000 individuals in the US by 2022. The Mumbai-based company has hired over 21,500 employees in the past five years in the US.
IT services major Tata Consultancy Services on Thursday said it has been ranked number one for customer satisfaction in a major survey conducted by Whitelane Research in the United Kingdom.
Mutual funds (MFs) - flush with cash amid record inflows in July - invested heavily in the Rs 25,000-crore qualified institutional placement (QIP) of India's largest lender State Bank of India (SBI). Fund managers acquired SBI shares worth Rs 10,200 crore last month, making the lender their biggest buy in July.
Leading software company Tata Consultancy Services has announced an alliance with the MIT Sloan Centre for Information Systems Research, strengthening ties with the world's leading academic institutions.
The 15-year agreement will see Infosys develop a next-generation, data-driven workforce management platform to replace the existing electronic staff record (ESR) system, which annually manages a 55 billion payroll for 1.9 million NHS employees.
Tata Consultancy Services (TCS), India's largest information technology services firm, has decided to revise the monthly salary of Chief Executive Officer (CEO) and Managing Director N Chandrasekaran by half to Rs 15 lakh.
India's top software exporter Tata Consultancy Services on Wednesday said it is looking at setting up more delivery centres in Eastern Europe.
TCS is recognised as a Top Employer in Latin America and North America.
Tata Consultancy Services and Oracle have begun a pilot project involving international carrier Virgin Atlantic to manage critical parts used in aircraft maintenance and repairs by tagging them with a radio frequency identification device.
Tata Consultancy Services has acquired the remaining 49 per cent stake in its Brazilian joint venture for $33.4 million, giving the company 100 per cent ownership.
As part of its Latin American expansion plans, IT major Tata Consultancy Services has set up another global delivery centre in Uruguay and will will house over 250 personnel.
Post Q1 results, the stock rallied 8% compared to 2% rise in S&P BSE Sensex and 4% gain in S&P BSE IT index.
India's largest information technology firm Tata Consultancy Services on Wednesday said it would increase headcount in the next financial year and explore both the organic and inorganic routes for growth.
Information technology giant Tata Consultancy Services on Tuesday said it plans to develop a new facility in three phases at Gandhinagar, Gujarat.
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.
ONGC had dethroned Tata Consultancy Services from the pole position in market-valuation charts on Wednesday, but its leadership position proved to be short-lived and it slipped to the second position in today's trading session.
Tata Consultancy Services (TCS) on Thursday said it plans to invest more than $100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state, TCS said in a statement. The new facility will officially open in late December 2020 and have space for 367 employees, it added.
As the new Tax Collection at Source (TCS) on foreign remittances is set to become applicable from October 1, travel agents' body TAAI has made a last-minute plea to the government, urging them to abolish the decision or defer its implementation until the next fiscal year to allow discussions on overseas tour packages. The government has raised the TCS on foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 per cent to 20 per cent. This will be applicable to international travel, sending money abroad and other remittances.
Initially, the lure of a big paycheck may feel rewarding. But, over time, professionals find themselves drifting away from family, friends and personal joys, observes Pradeep Pramanik.
The Top Employers certification is awarded to a select group of employers.
The IT giant has reported a decline in headcount for six consecutive quarters.
As the Ratan Tata Endowment Foundation and Trust are new entities, the continuous CSR fund flows from Tata Sons will help it undertake new projects.
Indian IT major Tata Consultancy Services will open a branch in Israel within six months and has already chosen a local manager.
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.
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
The facility will cater to govt services that require Inpact Level 3 security.
The roll-out of the auto enrollment began in October 2012.
Infy's cash utilisation may play role in whether valuation gap too narrows
The nine-member jury found in an Oakland, California court on Wednesday that the TCS did not have a "pattern or practice" of intentionally discriminating against non-South Asian workers due to their race or national origin.
Tata Motors reported a consolidated net profit of Rs 17,483 crore (adjusted for exceptional gains and losses) for Q4FY24, surpassing TCS' consolidated net earnings of Rs 12,434 crore. For the automotive major, this marked a 213.7 per cent year-on-year increase in the bottom line, from Rs 5,573.8 crore a year ago. In contrast, India's biggest IT firm saw a more modest Y-o-Y growth of 9.1 per cent in net profit, from Rs 11,392 crore.
The firm-level optimism derives partly from the state of the global economy.
Nine of the top-10 most-valued firms together added Rs 111,012.63 crore in market valuation last week, with Tata Consultancy Services and HDFC Bank emerging as the biggest gainers. Reliance Industries was the only laggard from the top-10 list. The valuation of Tata Consultancy Services jumped Rs 24,635.68 crore to reach Rs 13,82,280.01 crore.
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.
