After Infosys, the country's largest software services firm Tata Consultancy Services has warned of weaker earnings for the January-March quarter.
The data centre would enhance the infrastructure required to consolidated the state level applications and would be interoperable with the existing infrastructure, TCS said in a filing to the Bombay Stock Exchange.
TCS is also seeking more time for setting up a unit in Mihan special economic zone at Nagpur in Maharashtra.
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.
Tata Consultancy Services (TCS) has planned a capital expenditure of Rs 1,300 crore (Rs 13 billion) this financial year, Group chairman Ratan Tata said at the company's annual general meeting in Mumbai.
The Maharashtra government has formed a joint venture with Tata Consultancy Services to step up its efforts to provide online citizen services.
Life Insurance Corporation (LIC) , the country's largest domestic institutional investor (DII), has seen a Rs 46,000 crore erosion in the value of its equity holdings amid market downturns in July. The benchmark indices, Nifty 50 and BSE Sensex, have slipped 2.6 per cent from their June 2025-end level to 24,837 and 81,463.09 respectively.
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.
The estimated value of these two firms is around Rs 200 crore.
The company also plans to recruit over 3,000 people on onsite in countries like Brazil, Uruguay, China and in Latin America, among others.
TCS will provide a mobile application and technology support for the event on December 7.
Shivanand Kanavi remembers his father, the eminent Kannada poet Nadoja Chennaveera Kanavi.
The appreciating rupee has taken its toll on Tata Consultancy Services' June quarter numbers, with the top line growing just 1per cent sequentially in rupee terms to Rs 5202.8 crore (Rs 52.02 billion).
NTPC and NHPC, which together own a third of India's electricity generation, have roped in state-owned power sector financing firm, Power Finance Corporation for the joint venture along with TCS. "We (referring to NTPC and NHPC together) are the largest power generators and we hope to create a market for this," said NTPC Chairman and Managing Director R S Sharma.
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.
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.
TCS, India's largest IT company, has appointed and approved current TCS chief operating officer and executive director N Chandrasekaran as the CEO and Managing Director-designate.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Among the 30-share Sensex blue-chip firms, NTPC, Hindustan Unilever, Tata Motors, Maruti, Larsen & Toubro, Reliance Industries, Asian Paints and State Bank of India were the biggest laggards. Bharti Airtel, IndusInd Bank, Tech Mahindra, Infosys, Adani Ports and Tata Consultancy Services were among the gainers.
Global IT services major Tata Consultancy Services Ltd is planning to tap emerging markets, including the Philippines and Shanghai, with its E-Clear Settle, a financial and settlement suite.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
The country's largest software exporter, Tata Consultancy Service, on Monday said some Satyam Computer clients have turned to the Tata company on their own, adding it would not approach the clients of the scam-tainted firm.
Employees with experience of two years and above across the company who were unable to meet the performance requirements of our company are asked to look for other jobs commensurate with their abilities, a TCS spokesperson said.
In one of the largest outsourcing deals ever, ABN Amro has signed a Euro 1.8 billion ($2.22 billion) contract with five IT-vendors, including Tata Consultancy Services, Infosys and IBM.
From the Sensex firms, Adani Ports, Eternal, Bajaj Finance, Axis Bank, Bajaj Finserv, Reliance Industries, Power Grid and NTPC were the major gainers. Sun Pharma, however, tanked over 5 per cent.
Tata Consultancy Services on Monday entered into a five year research and development collaboration with Stanford University of United States for research in the critical area of data privacy.
For N Chandrasekaran, managing director and chief executive officer of India's largest information technology services provider, Tata Consultancy Services, the fourth quarter and 2010-11 numbers were one of the best since the industry was hit by the recession.
From the 30-share blue-chip pack, Tata Motors, Reliance Industries, ICICI Bank, Asian Paints, Nestle India, UltraTech Cement, Larsen & Toubro and Adani Ports were among the biggest gainers. In contrast, Zomato, HCL Tech, Tata Consultancy Services, Tech Mahindra, Kotak Mahindra Bank and Infosys were among the losers.
Shares of RIL on Monday opened at Rs 1,206.50, then gained further ground and touched its 52-week high level of Rs 1,238.05, up 2.87 per cent over its previous closing price.
The data centre will act as a disaster recovery platform.
India's largest software exporter, Tata Consultancy Services (TCS), says it will see more deals in its infrastructure services (IS) business in the $5-10 million range this year than in the $15-100 million one.
The domestic IT major Tata Consultancy Services said that its major expansion would henceforth take place within the notified Special Economic Zones in the country. TCS is setting up its largest global operating unit to accommodate 20,000 professionals in Rajiv Gandhi Infotech Park at Hinjewadi, Pune, a notified SEZ. Maharashtra Chief Minister Vilasrao Deshmukh on Wednesday laid the foundation-stone for the facility, which will become operational by December 2009.
Pharma major GlaxoSmithKline and software giant Tata Consultancy Services on Tuesday signed a 'multi-year, multi-million dollar' contract to set up a global drug development support centre in Mumbai.
The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore).
