Tata Consultancy Services, India's largest software exporter, will embark on a massive brand building exercise, starting early next fiscal and said it expects its joint venture subsidiary with Microsoft in China to be operational by June this year.
Compared to the last 40 years (of TCS' existence), this is by far the most challenging time. The last nine months, in particular, were quite challenging. Some of our top financial services customers were in a difficult situation.
The country's largest software exporter Tata Consultancy Services Ltd will not merge its subsidiary CMC Ltd. with itself, chief executive officer and managing director S. Ramadorai said Wednesday.\n\n\n\n
The decision was in contravention of the provisions of the master services agreement signed between the company and the Ministry of External Affairs (MEA) on October 13, 2008, says TCS
Apart from his vision, what helped Ratan Tata pursue his global dreams was the phenomenal success of Tata Consultancy Services, which is 74 per cent owned by Tata Sons.
TCS is aiming to add another $10 billion to its turnover in the next five years or so. Which means, the company has to grow at a compounded annual growth rate of 15 per cent. Can TCS pull it off?
Tata Consultancy Services on Tuesday said the company's chief operating officer N Chandrasekaran will succeed S Ramadorai as the CEO and managing director on October 6.
India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers.
Posts a fall in net profit sequentially despite clocking higher volume growth.
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.
At the end of trade on the BSE, RIL's market capitalisation was Rs 7,14,668.54 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,06,292.61 crore.
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.
The firm now has employee strength of 344,691.
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.
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.
The country's largest software services firm, Tata Consultancy Services (TCS) on Monday reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter.
TCS chief operating officer N Ganapathy Subramaniam earned over Rs 11.61 crore in FY19 as compared to Rs 9.29 crore last fiscal.
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.
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At present, TCS is the only company with a market value of over Rs 4 lakh crore.
TCS would hire 25,000 more people this year to support its ongoing and upcoming projects.
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.
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.
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.
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.
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.
The magnitude of the new H-1B visa application fee for fresh petitions - math of which works out to USD 500 million in case of 5,000 filings - may nudge IT companies to expand offshore delivery or increase local hiring, according to Motilal Oswal Financial Services.
Revenue grew 5.1 per cent in the quarter under review to Rs 39,946 crore from Rs 38,010 crore in the corresponding period last fiscal.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
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
"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.
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 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.
