Quarterly earnings from IT majors Tata Consultancy Services (TCS), Infosys, macroeconomic data announcements, global trends and trading activity of foreign investors would guide the movement in the equity market this week, analysts said. Movement of global oil benchmark Brent crude and the rupee will also influence trading in the markets. "All eyes will be on the beginning of corporate performance for the second quarter of the current fiscal year. TCS is slated to unveil its Q2 results on October 11, with HCL Technologies and Infosys following suit on October 12.
India's largest IT firm Tata Consultancy Services (TCS) will not announce a cut in variable pay of its employees this year , despite the company reporting a negative net profit on sequential basis.Last quarter, the company had announced a reduction in its staff variable pay as it did not achieve the internal targets.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
With this, the total strength of TCS's board has increased to 11.
The Dubai Centre, which earlier supported the capital market customers, is now geared to provide on-call services and any emergency support needed in the region to its core banking customers as well, a company statement said.
TCS, which, plans to earn $1 bn in 3-7 years will explore segments such as cyber security, internet of things, analytics of IoT, and cloud application and infrastructure.
Shares of TCS rose by 2.48 per cent to end the day at Rs 3,195.10 on the BSE, while RIL shares fell by 0.08 per cent to Rs 963.80.
Tata Consultancy Services, with exports worth $806.1 million is the largest software exporter during 2001-02, while Celetron India led the race in exports of computer hardware.\n\n\n\n
Given the potential for growth, IT major, Tata Consultancy Services, is looking at hiring 8,300 trainees and around 3,000 laterals or experienced persons in Q4 FY10, a senior company official said.
Signalling a return of good times in the information technology (IT) sector, India's largest IT services provider, Tata Consultancy Services (TCS), plans to hire 30,000 employees in the next financial year.
Tata Consultancy Services, the country's biggest software exporter, on Monday said it is eyeing up to 150 deals ranging from $5 million to $200 million in the financial solutions space over the next 12-18 months.
H-1B visa is a non-immigrant visa, which allows US employers to temporarily employ foreign workers in speciality occupations
The corporate sector should give priority to building toilets in schools as part of their corporate social responsibility initiatives.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
Tata Consultancy Services (TCS) CEO and Managing Director S Ramadorai said that the company would hire computer science PhD students who have graduated from any Indian Institute of Technology (IIT) in the country without any interviews for the next five years.
Tata Consultancy Services, the country's largest software exporter by revenue, is to administer the UK's National Employee Savings Trust scheme's administered services under a 10-year deal, worth around 600 million (approximately Rs 4,150 crore).The contract, awarded by the UK's Personal Accounts Delivery Authority, is divided into two stages, with possible extensions of another five years. The first stage will run up to October 2010.
Leading information technology services company Tata Consultancy Services would add a net of 13,500 people this year, chief executive officer and managing director S Ramadorai said on Saturday.
Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks
Mistry said he hoped the company would soon take a decision on appointing a woman as director on the board.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
Prominent exits by promoters included a Rs 15,300 crore share sale in Indus Tower by Vodafone Plc, a Rs 9,300 crore share sale by the Tata group in Tata Consultancy Services.
TCS moved into new markets like France, Japan thanks to acquisitions.
The company's consolidated revenue was up 34.3 per cent at Rs 15,621 crore (Rs 156.21 billion) for the second quarter.
TCS shares ended 1.14 per cent lower at Rs 1,290.30, even after a bullish opening on the BSE. During the day, the scrip slid nearly 2 per cent.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
India's largest IT company Tata Consultancy Services will consider acquisitions in Europe and plans to increase headcount at its Latin American and Chinese operations to 1,000.
The proposed TCS Learning Campus in Thiruvananthapuram will come up on a 97-acre plot in the Technopark area of the city.
At the end of last quarter, Tata Sons held 144,34,51,698 total shares or 73.75 per cent stake in TCS, out of which 7,95,00,000 shares were pledged.
To add 1,500-2,000 people in the next 12 months.
Tata Consultancy Services, India's largest IT company, sold 50 per cent stake in Intelenet Global Services Ltd to Housing Development Finance Corporation Ltd for Rs 161 crore (Rs 1.61 billion).
Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers. Tata Consultancy Services, Sun Pharma, Infosys and Tata Motors were among the laggards.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Under the eight-year association, TCS will take on the role of Title Sponsor of the New York City Marathon in 2014, the software major said in a statement.
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