Tata Consultancy Services, a Tata group company, has announced a 300 per cent interim dividend, the first dividend announcement after its initial public offering, for the current fiscal.
Volume growth and performance of the banking, financial services and insurance (BFSI) division will be a key aspect as the Indian information technology services sector draws closer to announce its first quarter results for 2012-13.
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.
Besides having Indians in top management, the IT major is working to make the country an innovation hub to drive business in Europe.
Relative to its competitors such as Infosys, Wipro and TCS, Cognizant's spending on sales and marketing is 50% higher, says an expert.
Both groups warn of initiating strict actions, issue public notices.
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.
Interview with CFO & vice-president, Tata Consultancy Services
When big companies such as Infosys and Wipro are forecasting minor growth this financial year, TCS is all set to break the trend.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
Seasonal weakness may result in modest sequential revenue growth for large Indian IT firms in the January-March 2016 quarter, analysts said.
Demand is driven by smaller deals in the US, larger ones in Europe.
Tata Consultancy Services (TCS) has emerged as the biggest wealth creator over the past five years.
Sikka will take over from current Chief Executive SD Shibulal, one of the engineers who founded Infosys, on August 1.
'One of the strategies is to pick deals carefully. That means looking at sectors like energy, banking, insurance and also doing outsourcing.'
Infosys Ltd's refocus on big-ticket contracts since the return of its founder has begun to pay off as India's No. 2 software services exporter crossed $2 billion in quarterly sales for the first time and pushed up its revenue outlook.
It also gave an upbeat growth outlook, sending its shares up the most in more than eight months.
In June alone, Rs 13,000 crore (Rs 130 billion) worth shares were released.
In tougher times, there seems to be an overwhelming focus on managing the large or anchor clients.
The stock market comes full circle; pharma also gains prominence, courtesy rupee depreciation
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).
Firms are increasingly launching health initiatives for their employees to reduce stress, revitalise body -- it also helps keep people occupied.
Tata Consultancy Services said quarterly consolidated net profit surged 49.6 percent, its fastest pace of increase in at least two-and-half years, helped by increasing demand for outsourcing services in the United States and Europe.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
India must diversify its services trade away from low-cost programming if it is to remain an IT-enabled hub.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
The newest CEO in the Tata group brings an aggressive pace and style to India's largest IT consultancy firm.
TCS saw its headcount reduced by 6,333. Infosys' headcount decreased by almost 7,500, and HCLTech saw its employee numbers shrink by 2,299.
Besides Florida and Louisiana, the Houston Consulate provides service to Indian community and businesses in Alabama, Arkansas, Georgia, Kansas, Mississippi, Oklahoma and Texas states.
Investors' wealth fell by Rs 2.39 lakh crore on Monday in line with a weak trend in the global equity markets. The BSE Sensex tanked 861.25 points or 1.46 per cent to settle at 57,972.62. During the day, it tumbled 1,466.4 points or 2.49 per cent to 57,367.47.
Post Q1 results, the stock rallied 8% compared to 2% rise in S&P BSE Sensex and 4% gain in S&P BSE IT index.
The facility will cater to govt services that require Inpact Level 3 security.
Work should not flow; it should get done, said N Chandrasekaran.
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.
The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
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