'No one manufactures intelligence at the moment.' 'This is a concept that your IT industry understands.' 'What you need is infrastructure. Everything else can then be taken care of.'
Cognizant jumps 13 ranks to become 4th most valued.
S&P said Indian technology players will continue to grow at a slightly slower pace over the next two to three years due to technological disruptions.
In 10 years, the company has created several milestones but, more important, also created multiple-fold wealth for investors.
TCS became a slow-moving giant and lost some of its sheen to competitors -- both big and small. Even as TCS remains the primary cash cow of Tata Group, its revenue and profit growth have slowed considerably.
A 150 basis points fall in realisations too weighed on the top-line.
Technology, not just cost, is key to IT's future.
Tata Consultancy Services said it has clocked a revenue of Rs 7,435 crore
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
Revenue grew by 31.4 per cent to Rs. 10,797 crore.
Street may be ignoring TCS headwinds as the stock's peak valuation doesn't seem justified by BFSI weakness, likely higher US tax rates and stronger rupee, reports Ram Prasad Sahu.
TCS Q1 FY'13 consolidated revenue up 37.71 per cent at Rs 14,868.71 crore.
Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards.
Tata Consultancy Services Ltd will offer 5.54 crore (55.4 million) equity shares of Re 1 each, including a fresh issue of 2.27 crore (22.7 million) shares, in its initial public offering through a book-building route.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
The centre will be focusing on emerging communication technologies
The Madras High Court has restrained software major TCS from retrenching its analyst who has been issued termination order by the company.
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
On the back of growing clout of the Indian IT sector, domestic giants Tata Consultancy Services, Infosys and Wipro may soon join the league of top 10 most valued firms globally in terms of market capitalisation in the next 2-3 years.
Shareholders want to know what plans does company have to address the issue
TCS said FY15 will be a better year in terms of top line growth and the deal pipeline remains strong
On the equity volume front, 7.66 lakh shares of the company were traded on BSE and over 91 lakh shares changed hands at NSE during the day.
Gopinathan is aware of the challenges and opportunities that lie ahead.
Infosys had guided for a revenue growth in the range of 11.5-13.5%, which has now been lowered to 10-12%.
The IT major's revenues during the reporting fiscal increased to Rs 3,302 crore.
The Reserve Bank of India's (RBI's) interest rate decision, West Asia conflict and trading activity of foreign investors are the key factors that will dictate investors' sentiment in the market this week, analysts said. Moreover, quarterly earnings from IT bellwether TCS, domestic macroeconomic data and movement in global oil benchmark Brent crude would also guide trends in the market. Worsening tensions in the Middle East and foreign fund outflows were the major culprits behind the equity markets sharp fall last week.
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
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TCS previously developed mobile apps for the last year's marathon, helping participants to track runners and to receive race results, information on the event, and tips for training.
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
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With its Mitsubishi JV beginning operations this quarter, analysts expect meaningful revenue addition
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
Some analysts believe underperformance of the TCS stock may continue.
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.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
The performance of banking and information technology (IT) stocks has had a significant impact on the composition of diversified mutual fund (MF) portfolios. Over the past two months, these sectors have become increasingly dominant, now constituting nearly 30 per cent of the total allocation in many diversified MF portfolios.
Employees face a bleak future, CPI (M) said.
The 21st AGM of the company is scheduled to be held in Mumbai on Friday.
From the Sensex basket, Infosys, IndusInd Bank, Bajaj Finserv, Wipro, HCL Technologies, Bajaj Finance, Tech Mahindra, Tata Consultancy Services, and Larsen & Toubro were the major laggards. Titan Company, Hindustan Unilever, HDFC Bank, Maruti, ITC, Power Grid and Reliance Industries were the gainers.
The country's largest software exporter, Tata Consultancy Services, on Thursday reported a 2.67 per cent growth in its net profit at Rs 1,362.06 crore (Rs 13.62 billion) for the third quarter ended December 31, 2008.
Ex-employee Steven Heldt had sued the company for favouring South Asians and discriminating against American workforce.
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