The quarterly results of India's big four IT (information technology) players (HCL, TCS, Infosys and Wipro) have left investors confused, with no clarity on the sector's outlook.
The roll-out of the auto enrollment began in October 2012.
IT industry's two giants present a contrast.
In the quarter ended June 30, the company posted 15.7 per cent growth in net profit at Rs 3,831 crore (Rs 38.31 billion) when compared with the corresponding quarter last year. Revenue rose 21 per cent to Rs 17,987 crore (Rs 179.87 billion).
All the top three major Indian IT firms -- Tata Consultancy Services, Infosys Technologies and Wipro -- either met or beat market and analyst expectations in the quarter ended September 30, 2009, registering their best performance in six quarters.
S Ramadorai, vice-chairman of Tata Consultancy Services (TCS), is set to become non-executive chairman of the Bombay Stock Exchange (BSE) following the exit of Jagdish Capoor last week on health grounds.Ramadorai will join BSE board on Monday and assume the role of chairman later.
If the visa issue ultimately requires certain other considerations at govt level, we will consider that, says Ravi Shankar Prasad
India's largest software exporter Tata Consultancy Services has been selected to set up the State Data Centre in Uttar Pradesh for the e-delivery of government services.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Cognizant jumps 13 ranks to become 4th most valued.
A recent report by Morgan Stanley Asia Pacific points that 774 listed companies have pledged shares with banks.
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.
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'.
TCS, HCL Tech join Infy in reporting improved earnings, are bullish on outlook.
Tata Consultancy Services had dethroned RIL from the pole position in market-valuation charts on December 30, the last trading session of 2011, but its leadership position proved to be short-lived and it slipped to the second position in Monday's trading session -- the first of 2012.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
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.
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.
For Kharagpur IITian Amitava Bhattacharya, entrepreneurship was an irresistible dream that he thought of chasing hard.
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
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.
Indian information technology software and services industry is truly the lighthouse of modern India.
Company has agreed to pay Rs 160 cr to settle a lawsuit filed by two former employees over unpaid wages.
It also retained its position among the 'Big 4' most valuable IT services brand worldwide -- in the ranking carried out by Brand Finance, the world leading brand valuation firm.
A 10 per cent-plus movement of currency in a few weeks is definitely concerning for the companies.
Benchmark equity index Sensex and Nifty gave up early gains and ended lower on Monday as investor sentiment was hit due to unabated foreign fund outflows and losses in index heavyweights Reliance Industries and HDFC Bank. The 30-share BSE Sensex declined 168.21 points or 0.28 per cent to settle at 60,092.97 as 15 of its constituents dropped. The barometer opened higher and touched a high of 60,586.77 in morning session. Later in the day, it fell 297.35 points or 0.49 per cent to 59,963.83.
With Tata Consultancy Services (TCS) announcing a wage rise for its employees this year and most other industry peers going ahead with their wage increase plans, pressure is expected to mount on Infosys to reconsider its earlier decision.
India's second-largest software services company, Infosys Technologies, for instance, plans to hire close to 30,000 this financial year.
TCS posts one of the highest volume growth and best margin performance.
Change of guard and strategy has rejigged the financials and order of top IT companies.
India's largest information technology services provider, Tata Consultancy Services (TCS), beat analyst expectations on both net profit and operating margins during the fourth quarter ending March 31.
Indian SMBs spent $11.9 billion in 2010 on IT and it is expected to grow to $48.5 billion by 2015.
Tata Consultancy Services, India's number one information technology services company, could overtake Infosys to become the most profitable one for the first time on a full-year basis in 2012-13.
Tata Consultancy Services (TCS), the country's largest information technology (IT) services provider, has planned to launch what it terms 'SME Cloud' in a fortnight. Under which, it would provide hosted services for enterprises having a Rs 50-500 crore turnover.
As the strategic IT services partner for IMSS, TCS will provide IT services including application maintenance and support, custom software development, business analysis services and value-added initiatives for the organisation's affiliates, a release said. TCS won the order following a public bid process and an assessment based on technology and financial parameters, it added.
Shortly after the twin earthquake-tsunami that hit Japan, Indian IT firms had started calling back employees.
With a market cap of $60 billion, exceeds Accenture and HP but trails IBM
We have to continue to be agile on execution and regulatory fronts: N Chandrasekaran
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