In an earlier interview, chief operating officer N Chandrasekaran had voiced this concern and said TCS was taking some measures. The impact was also evident on the overall revenue contribution, which fell to 4.7 per cent in FY09 from 5.2 per cent in FY08. TCS' head for Apac, Girija Pandey, feels the region will continue to be volatile till they reach a certain level.
The US district court of Northern California on Monday allowed two former employees of I-T giant Tata Consultancy Services Ltd to proceed with a class action lawsuit against their former company over wage dispute and breach of contract.
The third-quarter results of information technology (IT) software leaders indicate that the turnaround in the world's developed economies is a rising tide that is lifting virtually all boats.
Europe may continue to reel from the shock of the global financial crisis, but even in these depressed circumstances Information Technology-related outsourcing remains surprisingly buoyant to the benefit of Indian firms like Tata Consultancy Services.
Tata Consultancy Services has adopted several measures like avoiding travel and moving people from onsite to offshore to cut down costs, a senior official of the company said in Hyderabad on Wednesday.
In a suit filed against Tata America International Corporation (TAIC) and its parent corporations -- TCS and Tata Sons Ltd -- on Tuesday, Gopi Vedachalam, contends he was instructed to sign over his federal and state tax refund checks to TCS.
During the afternoon trade, TCS commanded a market value of over Rs 2,38,223 crore (Rs 2,382.23 billion), the highest for any listed company in India.
.jpg)
At present, TCS is the only company with a market value of over Rs 4 lakh crore.
The campus placements process usually starts in July-August, but is likely to start earlier this year.
TCS would hire 25,000 more people this year to support its ongoing and upcoming projects.
In a bid to reduce costs and increased offshoring focus, Tata Consultancy Services, India's largest information technology company, has recalled close to 1,200 employees from the US and has decided not to hand out any salary increment this year.
The corporate credit rating with a positive outlook, BBB, is higher than India's rating and "highlights the financial robustness of our business model and operating strengths of the company," TCS informed the Bombay Stock Exchange. According to S&P, the company has strong liquidity, with cash and bank deposits of Rs 1,230 crore (Rs 12.3 billion), about 9.4 per cent of total assets as on March 31, 2007.
"We are seeing an uptick. There is a lot more clarity and certainty about projects and decision cycles. I'm quite positive and companies are wanting to adopt technologies and are making decisions," TCS chief executive officer and managing director N Chandrasekaran said on the sidelines of World Economic Forum on India in Gurgaon.
The expenditure on human resources works out to 50 to 55 per cent of the reveneus of the company and it expects to optimise its cost through a proper mix of hiring trainees and profesionals. Ajoyendra Mukherjee, Vice-President and Head, Global HR of TCS told reporters in Mumbai on Thursday in the first quarter last year, the company had a hiring mix of 62 per cent professionals and 38 per cent trainees.
'Both campuses and talent should brace for a low-velocity campus hiring season that might extend into the off-campus period.'
Microsoft Corp and Tata Consultancy Services Ltd on Tuesday announced plans to advance their strategic alliance to deliver IT solutions to global companies more effectively, said a joint media release.
From the 30 Sensex pack, Hindustan Unilever fell by nearly 6 per cent after the FMCG major reported a 2.33 per cent decline in consolidated net profit at Rs 2,595 crore for the second quarter ended in September 2024 impacted by moderation in demand from the urban market.
TCS is said to have bagged a multi-million pound contract to support the disclosure and barring services for the Criminal Records Bureau of the UK.
While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
The country's largest software firm Tata Consultancy Services and the Netherlands-based Nielsen Company on Thursday entered into an agreement for outsourcing a portion of Nielsen's IT and operations functions. It is a 10-year agreement valued at US$1.2 billion, TCS said.
Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
The company has declared a dividend of Rs 7 per share.
For TCS, the retail business has been growing at 10-12 per cent over the last three quarters. On a year-on-year basis, the growth rate of the retail business has been impacted due to currency fluctuation and the general slowdown. In dollar terms, the retail business grew 51.6 per cent for the company last financial year.
Demand is driven by smaller deals in the US, larger ones in Europe.
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
TCS posted 20 per cent growth in revenues at Rs 5,012 crore (Rs 50.12 billion or $1.075 billion) for the year ending March 31, 2003 compared to Rs 4,187 crore (Rs 41.87 billion) in the previous fiscal.\n\n
While TCS will see demand in the US and Europe, its local business is likely to be hit on poor IT spending.
In dollar terms, its m-cap rose to $76 billion
Equity benchmark indices Sensex and Nifty settled lower for the sixth straight session on Monday due to heavy selling in bellwether stocks including HDFC Bank and Reliance Industries amid mixed trends in the global markets and outflow of foreign funds. Falling for the sixth consecutive session, the BSE Sensex tumbled 638.45 points or 0.78 per cent to settle at 81,050. During the day, it plummeted 962.39 points or 1.17 per cent to 80,726.06. The NSE Nifty slumped 218.85 points or 0.87 per cent to end at 24,795.75.
Tata Consultancy Services has become the second-largest insurance business process outsourcing provider in the UK, after winning two deals worth 250 million pound (around Rs1,800 crore).
The good news is that salary hikes are expected, though it is uncertain when they will be implemented.
From the Sensex stocks, Maruti Suzuki India, Tata Motors, JSW Steel, Larsen & Toubro, Tata Steel, Mahindra and Mahindra, Tata Consultancy Services, Tech Mahindra, HCL Technologies and Infosys were the laggards. HDFC Bank, Sun Pharmaceuticals, Kotak Mahindra Bank, Nestle India and Asian Paints were among the gainers.
The TCS CEO spoke about the IT major's operations in Canada.
Tata Consultancy Services posted 29.93 per cent jump in consolidated net profit at Rs 2,369.83 crore (Rs 23.69 billion) for the third quarter ended December 31, 2010. The company has announced 200 per cent dividend. It has declared the third interim dividend of Rs 2 per equity share of Re 1 each.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances